MIRA
INFORM REPORT
|
Report Date : |
29.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
EURE INOX S.R.L.
|
|
|
|
|
Registered Office : |
Via Leonardo Da Vinci, 2/4 20068 - Peschiera Borromeo (MI) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.07.1997 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
·
Iron metallurgy ·
Manufacture of other metal objects and trinkets |
|
|
|
|
No. of Employees |
from 36 to 50 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial economy, which is divided
into a developed industrial north, dominated by private companies, and a
less-developed, highly subsidized, agricultural south, where unemployment is
higher. The Italian economy is driven in large part by the manufacture of
high-quality consumer goods produced by small and medium-sized enterprises,
many of them family-owned. Italy also has a sizable underground economy, which
by some estimates accounts for as much as 17% of GDP. These activities are most
common within the agriculture, construction, and service sectors. Italy is the
third-largest economy in the euro-zone, but its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 133% of
GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis
eased in 2013, bringing down Italy's borrowing costs on sovereign government
debt from euro-era. The government still faces pressure from investors and
European partners to sustain its efforts to address Italy's long-standing
structural impediments to growth, such as labor market inefficiencies and
widespread tax evasion. In 2013 economic growth and labor market conditions
deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth
unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
|
Source
: CIA |
Company name anddress
EURE INOX S.R.L.
Via Leonardo Da Vinci, 2/4
20068 - Peschiera
Borromeo (MI) -IT-
Summary
|
Fiscal Code |
: |
12193360158 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
02/07/1997 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
|
|
|
n.b.: The Creditworthness Rate shows, in
percentage, the ratio between the suggested credit opinion and the credit
amount that the firm could get if the financial situation would be completely
positive. |
Activity
Iron metallurgy
Manufacture of other metal objects and
trinkets
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 12193360158 |
|
Foreign Trade Reg. no. : MI271276 since
15/10/1997 |
|
Chamber of Commerce no. : 1539337 of
Milano since 06/10/1997 |
|
Firms' Register : MI-1997-268339 of Milano
since 06/10/1997 |
|
V.A.T. Code : 12193360158 |
|
Establishment date |
: 02/07/1997 |
|
|
Start of Activities |
: 02/07/1997 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.000.000 |
|
|
Subscribed Capital |
: 1.000.000 |
|
|
Paid up Capital |
: 1.000.000 |
|
Members
|
|
Nemfardi |
Renato |
|
|
|
Born in Salsomaggiore Terme |
(PR) |
on 29/05/1947 |
- Fiscal Code : NMFRNT47E29H720U |
|
|
|
Residence: |
|
Aldo Moro |
, 16 |
- 20068 |
Peschiera Borromeo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
02/07/1997 |
|
|
|
|
No Prejudicial events
are reported |
|
|
No Protests
registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in which
members hold or have holded positions.
|
|
Nemfardi |
Renato |
|
Firm's
Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
INOX SERVICE SRL |
NOCERA INFERIORE (SA) - IT - |
03813250655 |
Director |
Withdrawn |
Registered |
The indication "REGISTERED" as
Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we
advise to request further investigations.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's
Style / Name |
Seat
/ Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bedini Roberto |
Milano - IT - |
BDNRRT73T04F205D |
150.000 .Eur |
15,00 |
|
Bedini Fabio Angelo |
Peschiera Borromeo - IT - |
BDNFNG70L31F205X |
150.000 .Eur |
15,00 |
|
Nemfardi Renato |
Peschiera Borromeo - IT - |
NMFRNT47E29H720U |
200.000 .Eur |
20,00 |
|
MOLARI MARIA EUGENIA |
Reggio Calabria - IT - |
MLRMGN48D54A794U |
200.000 .Eur |
20,00 |
|
NEMFARDI GRAZIA |
Milano - IT - |
NMFGRZ74P65L400S |
150.000 .Eur |
15,00 |
|
NEMFARDI SARA |
Milano - IT - |
NMFSRA71L57L400G |
150.000 .Eur |
15,00 |
Direct Participations
The Company under review has participations
in the following Companies:
|
Firm's
Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
INOX SERVICE SRL |
NOCERA INFERIORE - IT - |
03813250655 |
87.132.150 .Eur |
45,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Leonardo Da Vinci |
, 2/4 |
- 20068 |
- Peschiera Borromeo |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 0255305806 |
|
|
|
|
FAX |
: 0255305240 |
|
|
|
|
Email |
: PEC@PEC.EUREINOX.IT |
|
|
|
|
Employees |
: 49 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
2.330.000 |
Eur |
|
Stocks for a value of 21.020.000 |
Eur |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Cazzaniga |
Carlantonio |
|
|
|
Born in Milano |
(MI) |
on 19/12/1947 |
- Fiscal Code : CZZCLN47T19F205R |
|
|
|
Residence: |
|
Regina Giovanna |
, 42 |
- 20129 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Saltini |
Giovanni |
|
|
|
Born in Lonato Del Garda |
( ) |
on 07/01/1935 |
- Fiscal Code : SLTGNN35A07E667S |
|
|
|
Residence: |
|
Kennedy |
, 21 |
- 20097 |
San Donato Milanese |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Genova |
Gaetano |
|
|
|
Born in Caltanissetta |
(CL) |
on 29/05/1932 |
- Fiscal Code : GNVGTN32E29B429P |
|
|
|
Residence: |
|
Serbelloni |
, 7/9 |
- 20121 |
Gorgonzola |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Aldrighetti |
Alberto |
|
|
|
Born in Milano |
(MI) |
on 23/03/1967 |
- Fiscal Code : LDRLRT67C23F205I |
|
|
|
Residence: |
|
J.f.kennedy |
, 25 |
- 20097 |
San Donato Milanese |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Cazzaniga |
Elena |
|
|
|
Born in Busto Arsizio |
(VA) |
on 27/10/1972 |
- Fiscal Code : CZZLNE72R67B300R |
|
|
|
Residence: |
|
Regina Giovanna |
, 42 |
- 20129 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Saltini |
Tommaso |
|
|
|
Born in Parma |
(PR) |
on 29/07/1972 |
- Fiscal Code : SLTTMS72L29G337P |
|
|
|
Residence: |
|
LODI |
, 65 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Grasso |
Stefano |
|
|
|
Born in Riposto |
(CT) |
on 20/11/1933 |
- Fiscal Code : GRSSFN33S20H325M |
|
|
|
Residence: |
|
ALDINI ANTONIO |
, 1 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Cazzaniga |
Anna |
|
|
|
Born in Busto Arsizio |
(VA) |
on 10/11/1974 |
- Fiscal Code : CZZNNA74S50B300E |
|
|
|
Residence: |
|
Regina Giovanna |
, 42 |
- 20129 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
Protests
Protests checking on the subject firm has
given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
The company is active since 1997
An eco-fin analysis has been made on the
base od the b/s fo the years 2010, 2011 and 2012.
During the last years, it achieved profits
(r.o.e. 18,27% on 2012)
The operating result in 2012 was positive
(7,54%) falling within the field's average.
An operating result of Eur. 3.720.131 has
been registered. with a -31,32% fall as against the year 2011.
The economic management produced a gross
operating margin of Eur. 5.809.690 showing a downward trend as opposed to the
previous year.
The financial status of the company is
fairly balanced with an indebtedness level of 2,17 and decreasing as against
2011.
Subject can manage an equity capital funds
for an amount of Eur. 13.101.936 , increasing by 22,35% if compared to the
financial year 2011.
In the year 2012 total debts amounted to
Eur. 35.749.551 with no important change.
The recourse to bank credit is slightly high
and also borrowings from suppliers appear to be high, with an average payment
period equal to 96,66 gg. but lined up with the field's average.
Liquidity is good (1,27)
Trade credits are collected slowly, average
term is 125,3 days. and higher than the average of the sector.
The financial management generated a cash
flow of Eur. 4.483.402.
In the last financial year labour cost was
of Eur. 2.214.166, with a 6,38% incidence on total costs of production. , with
a 5,77% incidence on turnover.
Limited financial charges in relation to
sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
38.391.815 |
|
Profit (Loss) for the period |
2.393.843 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
46.224.520 |
|
Profit (Loss) for the period |
3.347.478 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
47.806.783 |
|
Profit (Loss) for the period |
3.545.482 |
Balance Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet
as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value
Type |
as at 31/12/2012 |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,27 |
0,31 |
0,33 |
0,30 |
|
Elasticity Ratio |
Units |
0,73 |
0,69 |
0,67 |
0,68 |
|
Availability of stock |
Units |
0,43 |
0,34 |
0,32 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,31 |
0,34 |
0,35 |
0,42 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,17 |
2,34 |
1,62 |
2,31 |
|
Self Financing Ratio |
Units |
0,27 |
0,24 |
0,38 |
0,21 |
|
Capital protection Ratio |
Units |
0,74 |
0,59 |
0,76 |
0,61 |
|
Liabilities consolidation quotient |
Units |
0,27 |
0,36 |
0,01 |
0,17 |
|
Financing |
Units |
2,73 |
3,15 |
1,62 |
3,62 |
|
Permanent Indebtedness Ratio |
Units |
0,42 |
0,44 |
0,39 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,20 |
0,01 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,97 |
2,51 |
1,08 |
1,42 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,57 |
1,41 |
1,16 |
1,11 |
|
Current ratio |
Units |
1,27 |
1,23 |
1,09 |
1,10 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,53 |
0,62 |
0,57 |
0,72 |
|
Structure's primary quotient |
Units |
0,99 |
0,76 |
1,14 |
0,81 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
376,52 |
418,60 |
263,31 |
468,75 |
|
Current Capital ( net ) |
Value |
7.617.427 |
5.691.287 |
2.654.852 |
525.922 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
11,68 |
11,76 |
11,24 |
2,32 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
18,27 |
31,26 |
18,58 |
3,79 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
28,10 |
47,80 |
27,79 |
10,56 |
|
Return on Investment ( R.O.I. ) |
% |
7,54 |
12,09 |
10,92 |
3,84 |
|
Return/ Sales |
% |
9,69 |
11,72 |
11,47 |
3,06 |
|
Extra Management revenues/charges incid. |
% |
64,35 |
61,79 |
64,64 |
32,18 |
|
Cash Flow |
Value |
4.483.402 |
5.436.455 |
5.375.253 |
1.200.022 |
|
Operating Profit |
Value |
3.720.131 |
5.417.139 |
5.485.050 |
1.374.962 |
|
Gross Operating Margin |
Value |
5.809.690 |
7.506.116 |
7.314.821 |
2.131.798 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
125,30 |
112,28 |
121,36 |
85,05 |
|
Debts to suppliers average term |
Days |
96,66 |
52,43 |
81,09 |
89,46 |
|
Average stock waiting period |
Days |
197,14 |
118,98 |
119,25 |
47,61 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,78 |
1,03 |
0,95 |
1,45 |
|
Rate of stock return |
Units |
1,83 |
3,03 |
3,02 |
7,34 |
|
Labour cost incidence |
% |
5,77 |
5,05 |
4,35 |
5,48 |
|
Net financial revenues/ charges incidence |
% |
-0,51 |
-0,74 |
-0,37 |
-1,06 |
|
Labour cost on purchasing expenses |
% |
6,38 |
5,72 |
4,91 |
5,52 |
|
Short-term financing charges |
% |
0,99 |
1,08 |
0,69 |
2,49 |
|
Capital on hand |
% |
128,50 |
96,97 |
105,11 |
68,88 |
|
Sales pro employee |
Value |
853.151 |
1.155.613 |
1.195.169 |
796.124 |
|
Labour cost pro employee |
Value |
49.203 |
58.406 |
51.990 |
44.281 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
3.839.216Monthly family expences average in the
region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector Data
The values are calculated on a base of 377
significant companies.
The companies cash their credits on an
average of 85 dd.
The average duration of suppliers debts is
about 89 dd.
The sector's profitability is on an average
of 2,32%.
The labour cost affects the turnover in the
measure of 5,48%.
Goods are held in stock in a range of 48 dd.
The difference between the sales volume and
the resources used to realize it is about 1,45.
The employees costs represent the 5,52% of
the production costs.
Statistical Detrimental Data
Statistcally the trade activity shows
periods of crisis.
The area is statistically considered lowly
risky.
In the region 50.886 protested subjects are
found; in the province they count to 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.