MIRA INFORM REPORT
|
Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
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Name : |
CRESO S.R.L.
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Registered Office : |
Via Valsugana, 54, 35010 –
Curtarolo (PD) |
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Country : |
Italy |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.06.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in Retail [We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
21 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Italy |
a2 |
a2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 & address
Creso S.r.l.
Via Valsugana, 54
35010 - Curtarolo (PD) -IT-
Summary
|
Fiscal Code |
: |
03645650288 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
25/06/2001 |
|
Equity |
: |
250.000 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
21 |
Activity
Engaged in Retail sale of ladies and menswear
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 03645650288 |
|
Chamber of Commerce no. : 325674 of Padova since 18/06/2001 |
|
Chamber of Commerce no. : 371460 of Venezia |
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Firms' Register : PD-2001-42888 of Padova since 18/06/2001 |
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V.A.T. Code : 03645650288 |
|
Establishment date |
: 01/06/2001 |
|
|
Start of Activities |
: 25/06/2001 |
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Legal duration |
: 31/12/2050 |
|
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Nominal Capital |
: 10.000 |
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Subscribed Capital |
: 10.000 |
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Paid up Capital |
: 10.000 |
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Members
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Gottardello |
Enrico Giuseppe |
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Born in Campo San Martino |
(PD) |
on 29/02/1960 |
- Fiscal Code : GTTNCG60B29B564J |
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Residence: |
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Valsugana |
, 266 |
- 35010 |
San Giorgio in Bosco |
(PD) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
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|
|
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Prejudicial Events found with cancellations* |
Legal Mortgage - 20/03/2007. -
2.322 Euro. Event writing-off
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EQUITALIA POLIS S. P. A. |
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No Protests registered |
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NOVENTA |
MARCO |
|
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Born in PADOVA |
(PD) |
on 30/05/1965 |
- Fiscal Code : NVNMRC65E30G224I |
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Residence: |
STRADELLA DELLA FABBRICA |
, 27/3 |
- 35013 |
Cittadella |
(PD) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
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No Prejudicial events are reported |
|
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No Protests registered |
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Pedron |
Luca |
|
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Born in Camposampiero |
(PD) |
on 17/09/1968 |
- Fiscal Code : PDRLCU68P17B563R |
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Residence: |
|
Finco |
, 28/A |
- 35010 |
Campo San Martino |
(PD) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
01/07/2011 |
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No Prejudicial events are reported |
|
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No Protests registered |
*Concerns also partially erased events.
Companies connected to members *
*checkings have been performed on a national scale.
In this module the companies in which members hold/held positions are
listed.
The Members of the subject firm are not reported to be Members in other
companies.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Gottardello Enrico Giuseppe |
San Giorgio in Bosco - IT - |
GTTNCG60B29B564J |
5.000 .Eur |
50,00 |
|
NOVENTA MARCO |
Cittadella - IT - |
NVNMRC65E30G224I |
5.000 .Eur |
50,00 |
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 |
|
Chic E Cheap S.r.l. |
|
04372660284 |
34.000 .Eur |
68,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
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Valsugana |
, 54 |
- 35010 |
- Curtarolo |
(PD) |
- IT - |
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Trading Style: Creso |
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Total Surface: 362 Sq.mt. |
|
- |
Branch |
(Branch) |
since 01/01/2011 |
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Valsugana |
, 370/A |
- 35010 |
- San Giorgio in Bosco |
(PD) |
- IT - |
|
- |
Branch |
(Store) |
since 01/01/2011 |
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Valsugana |
, 370/C |
- 35010 |
- San Giorgio in Bosco |
(PD) |
- IT - |
|
- |
Branch |
(Store) |
since 01/01/2011 |
|
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|
|
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Valsugana |
, SNC |
- 35010 |
- San Giorgio in Bosco |
(PD) |
- IT - |
|
- |
Branch |
(Administrative office) |
since 27/01/2012 |
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Valsugana |
, 366/B |
- 35010 |
- San Giorgio in Bosco |
(PD) |
- IT - |
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Employees |
: 21 |
|
Fittings and Equipment for a value of 100.000 |
Eur |
|
Stocks for a value of 3.560.000 |
Eur |
|
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Historical Information and/or
Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
NOVENTA |
MARCO |
|
|
|
Born in PADOVA |
(PD) |
on 30/05/1965 |
- Fiscal Code : NVNMRC65E30G224I |
|
|
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Residence: |
STRADELLA DELLA FABBRICA |
, 27/3 |
- 35013 |
Cittadella |
(PD) |
- IT - |
|
Ex-Postions |
|
Sole Director |
Protests
Protests checking on the subject firm has given a negative result.
Data Base Prejudicial Events Search
Search performed on a National Scale
|
|
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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 2001
An eco-fin analysis has been made on the base od the b/s fo the years
2011, 2012 and 2013.
During the last years, it achieved profits (r.o.e. 15,54% on 2013)
keeping the turnover steady during the last two years.
The operating result in 2013 was positive (3,06%) falling within the
field's average.
The amount of the operating result is equal to Eur. 285.469 ,showing
stability in respect to the value of 2012.
The G.O.M. amounted to Eur. 354.593 ,with no change if compared to the
year before.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (27,45) which is anyway decreasing.
With regard to equity capital, an amount of Eur. 248.426 is registered.
, unchanged if compared to 2012.
In the year 2013 total debts amounted to Eur. 8.985.828 showing a stable
trend as opposed to 2012 (Eur. 10.125.637).
Considerable bank indebtedness; on the other hand the recourse to
suppliers' credit is slightly high but lower than the field average.
Liquidity is good (1,33)
Accounts receivable average term is high (141,2 days). besides being
higher than the sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 107.717
Labour cost amounts to Eur. 692.449, with a 5,53% incidence on
production costs. , whereas the incidence of such costs on sales revenues is
equal to 5,41%.
Limited financial charges in relation to sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.796.473 |
|
Profit (Loss) for the period |
38.593 |
|
|
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Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.986.572 |
|
Profit (Loss) for the period |
48.217 |
|
|
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Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.510.663 |
|
Profit (Loss) for the period |
58.907 |
|
|
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Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.184.703 |
|
Profit (Loss) for the period |
32.741 |
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 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,03 |
0,03 |
0,01 |
0,13 |
|
Elasticity Ratio |
Units |
0,97 |
0,97 |
0,99 |
0,85 |
|
Availability of stock |
Units |
0,38 |
0,40 |
0,51 |
0,54 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,57 |
0,48 |
0,22 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,05 |
0,04 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
27,45 |
37,76 |
53,62 |
4,36 |
|
Self Financing Ratio |
Units |
0,03 |
0,02 |
0,02 |
0,14 |
|
Capital protection Ratio |
Units |
0,80 |
0,72 |
0,62 |
0,56 |
|
Liabilities consolidation quotient |
Units |
0,33 |
0,28 |
0,01 |
0,15 |
|
Financing |
Units |
36,17 |
48,26 |
56,74 |
5,86 |
|
Permanent Indebtedness Ratio |
Units |
0,27 |
0,24 |
0,02 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,24 |
0,21 |
0,01 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
12,98 |
15,68 |
n.c. |
0,98 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
9,78 |
7,87 |
2,17 |
2,02 |
|
Current ratio |
Units |
1,33 |
1,27 |
1,01 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,80 |
0,75 |
0,49 |
0,36 |
|
Structure's primary quotient |
Units |
0,97 |
0,67 |
1,68 |
1,06 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,06 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
3749,40 |
4959,55 |
5803,68 |
707,22 |
|
Current Capital ( net ) |
Value |
2.225.166 |
2.114.760 |
117.678 |
61.776 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
0,84 |
0,89 |
0,80 |
2,62 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,54 |
22,98 |
32,44 |
6,19 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
50,25 |
59,03 |
64,52 |
15,72 |
|
Return on Investment ( R.O.I. ) |
% |
3,06 |
3,24 |
0,85 |
3,25 |
|
Return/ Sales |
% |
2,23 |
2,59 |
0,78 |
2,94 |
|
Extra Management revenues/charges incid. |
% |
13,52 |
14,32 |
65,45 |
31,16 |
|
Cash Flow |
Value |
107.717 |
116.067 |
91.623 |
20.178 |
|
Operating Profit |
Value |
285.469 |
336.823 |
90.008 |
23.558 |
|
Gross Operating Margin |
Value |
354.593 |
404.673 |
122.724 |
40.605 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
141,20 |
163,28 |
n.c. |
26,46 |
|
Debts to suppliers average term |
Days |
103,18 |
140,96 |
n.c. |
152,76 |
|
Average stock waiting period |
Days |
100,25 |
114,12 |
168,63 |
158,60 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,37 |
1,25 |
1,09 |
1,10 |
|
Rate of stock return |
Units |
3,59 |
3,15 |
2,13 |
2,21 |
|
Labour cost incidence |
% |
5,41 |
4,11 |
3,58 |
10,29 |
|
Net financial revenues/ charges incidence |
% |
-1,09 |
-1,51 |
0,23 |
-1,31 |
|
Labour cost on purchasing expenses |
% |
5,53 |
4,13 |
3,59 |
10,25 |
|
Short-term financing charges |
% |
1,56 |
1,97 |
n.c. |
2,10 |
|
Capital on hand |
% |
72,79 |
80,13 |
91,57 |
90,76 |
|
Sales pro employee |
Value |
609.355 |
811.660 |
959.221 |
267.102 |
|
Labour cost pro employee |
Value |
32.973 |
33.356 |
34.332 |
30.754 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expenses 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 2.211 significant companies.
The companies cash their credits on an average of 26 dd.
The average duration of suppliers debts is about 153 dd.
The sector's profitability is on an average of 2,62%.
The labour cost affects the turnover in the measure of 10,29%.
Goods are held in stock in a range of 159 dd.
The difference between the sales volume and the resources used to
realize it is about 1,10.
The employees costs represent the 10,25% of the production costs.
Statistical Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.646.
The insolvency index for the region is 0,30, , while for the province it
is 0,30.
Total Bankrupt companies in the province : 3.821.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.41 |
|
UK Pound |
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.79.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.