MIRA INFORM REPORT
|
Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPS SRL |
|
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Registered Office : |
Via Castagne, 4, 37060 – Sona |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
11.04.2012 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Fashion design and industrial design activities |
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No of Employees : |
from 1 to 5 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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
|
Sps Srl |
|
Via |
Castagne, |
4 |
|
37060 |
- Sona |
(VR) |
-IT- |
Summary
|
Fiscal Code |
: |
04104140233 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
11/04/2012 |
|
Equity |
: |
80.000 |
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Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Fashion design and industrial design
activities
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 04104140233 |
|
Chamber of Commerce no. : 392380 of Verona since 19/04/2012 |
|
V.A.T. Code : 04104140233 |
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Establishment date |
: 11/04/2012 |
|
|
Start of Activities |
: 11/04/2012 |
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Legal duration |
: 31/12/2032 |
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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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Manzati |
Giuseppe |
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|
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Born in Sona |
(VR) |
on 07/05/1931 |
- Fiscal Code : MNZGPP31E07I826A |
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Residence: |
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Castello |
, 12 |
- 37060 |
Sona |
(VR) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Partner |
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No Prejudicial
events are reported |
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No Protests
registered |
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Forte |
Valeria |
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Born in Verona |
(VR) |
on 20/12/1964 |
- Fiscal Code : FRTVLR64T60L781G |
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|
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Residence: |
|
Carlo Cattaneo |
, 4 |
- 37100 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
11/04/2012 |
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|
|
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No Prejudicial
events are reported |
|
|
No Protests
registered |
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 |
|
Manzati Giuseppe |
Sona - IT - |
MNZGPP31E07I826A |
6.500 .Eur |
65,00 |
|
Forte Valeria |
Verona - IT - |
FRTVLR64T60L781G |
3.500 .Eur |
35,00 |
Direct Participations
The Company under review has no
participations in other Companies.
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
(Workshop) |
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|
|
|
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Castagne |
, 4 |
- 37060 |
- Sona |
(VR) |
- IT - |
|
|
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Employees |
: 5 |
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Stocks for a value of 85.000 |
Eur |
|
|
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
Subject under review started the activities
in 2012.
The balance-sheet analysis has been made on
the base of the latest 2 financial years.
Unstable economic results mark the company's
financial state of affairs. with a loss in the last financial year. In the last
financial year an increase in the turnover has been registered (more then
100%).
The operating result was positive in the
last financial year (0,93%) falling within the field's average.
The amount of the operating result for the
year 2013 is of Eur. 16.628 with a -86,39% fall as against the year 2012.
The economic management produced a gross
operating margin of Eur. 20.002 showing a downward trend as opposed to the
previous year.
Financial condition is not balanced as own
capitals do not cover debts, indebtedness level is in fact high (16,87) which
is rising compared to 2012.
With regard to equity capital, an amount of
Eur. 66.457 is registered. , unchanged if compared to 2012.
The financial management has recorded total
debts amounting to Eur. 1.677.885, , showing an upward trend if compared to
2012.
Current liquid assets is positive.
(Eur. -11.302) is the negative value of the
cash flow.
Labour cost amounts to Eur. 687.781, with a
25,54% incidence on production costs. , whereas the incidence on sales revenues
is of 25,71%.
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 |
2.674.722 |
|
Profit (Loss) for the period |
-14.676 |
|
|
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Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
842.012 |
|
Profit (Loss) for the period |
71.102 |
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 |
|
- Balance Sheet
as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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Ratios
|
RATIOS |
Value Type |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,01 |
0,02 |
0,15 |
|
Elasticity Ratio |
Units |
0,99 |
0,97 |
0,82 |
|
Availability of stock |
Units |
0,05 |
n.c. |
0,12 |
|
Total Liquidity Ratio |
Units |
0,94 |
0,97 |
0,66 |
|
Quick Ratio |
Units |
0,31 |
0,24 |
0,04 |
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COMPOSITION ON
SOURCE |
|
|
|
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Net Short-term indebtedness |
Units |
16,87 |
2,73 |
2,83 |
|
Self Financing Ratio |
Units |
0,04 |
0,16 |
0,19 |
|
Capital protection Ratio |
Units |
1,07 |
0,00 |
0,34 |
|
Liabilities consolidation quotient |
Units |
0,00 |
0,01 |
0,13 |
|
Financing |
Units |
25,25 |
4,27 |
4,07 |
|
Permanent Indebtedness Ratio |
Units |
0,04 |
0,16 |
0,27 |
|
M/L term Debts Ratio |
Units |
0,00 |
0,00 |
0,10 |
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Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
0,33 |
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CORRELATION |
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|
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Fixed assets ratio |
Units |
4,29 |
9,62 |
1,52 |
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Current ratio |
Units |
1,05 |
1,44 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,00 |
1,44 |
1,13 |
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Structure's primary quotient |
Units |
3,95 |
9,36 |
1,04 |
|
Treasury's primary quotient |
Units |
0,33 |
0,36 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
2683,54 |
632,82 |
522,60 |
|
Current Capital ( net ) |
Value |
80.212 |
151.393 |
27.689 |
|
RETURN |
|
|
|
|
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Return on Sales |
% |
-0,42 |
8,63 |
2,86 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-22,08 |
87,67 |
9,73 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
19,03 |
150,57 |
29,91 |
|
Return on Investment ( R.O.I. ) |
% |
0,93 |
23,81 |
5,46 |
|
Return/ Sales |
% |
0,62 |
14,51 |
4,87 |
|
Extra Management revenues/charges incid. |
% |
-88,26 |
58,18 |
30,41 |
|
Cash Flow |
Value |
-11.302 |
72.701 |
28.458 |
|
Operating Profit |
Value |
16.628 |
122.214 |
41.782 |
|
Gross Operating Margin |
Value |
20.002 |
123.813 |
77.363 |
|
MANAGEMENT |
|
|
|
|
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Credits to clients average term |
Days |
n.c. |
n.c. |
115,64 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
123,39 |
|
Average stock waiting period |
Days |
11,44 |
n.c. |
44,66 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,50 |
1,64 |
1,33 |
|
Rate of stock return |
Units |
31,46 |
n.c. |
7,47 |
|
Labour cost incidence |
% |
25,71 |
35,51 |
17,21 |
|
Net financial revenues/ charges incidence |
% |
-0,15 |
-0,01 |
-0,98 |
|
Labour cost on purchasing expenses |
% |
25,54 |
41,54 |
18,79 |
|
Short-term financing charges |
% |
0,26 |
0,07 |
1,91 |
|
Capital on hand |
% |
66,68 |
60,95 |
74,95 |
|
Sales pro employee |
Value |
127.367 |
93.556 |
155.922 |
|
Labour cost pro employee |
Value |
32.751 |
33.220 |
33.452 |
Market / Territory Data
|
Population living in the province |
: |
|
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Population living in the region |
: |
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Number of families in the region |
: |
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Monthly family expenses average in the
region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
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Sector Data
The values are calculated on a base of 190
significant companies.
The companies cash their credits on an
average of 116 dd.
The average duration of suppliers debts is
about 123 dd.
The sector's profitability is on an average
of 2,86%.
The labour cost affects the turnover in the
measure of 17,21%.
Goods are held in stock in a range of 45 dd.
The difference between the sales volume and
the resources used to realize it is about 1,33.
The employees costs represent the 18,79% 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 13.782 protested subjects are found; in the province they count to 2.673.
The insolvency index for the region is 0,30, , while for the province it is 0,31.
Total Bankrupt companies in the province : 2.982.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.31 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 78.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
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.