|
Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
LORIS BELLINI
S.R.L. |
|
|
|
|
Registered Office : |
Via De Gasperi, 29/31 46040 – Casalromano (MN) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1971 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of textile machinery, machinery and systems for auxiliary y treatment of textiles, sewing and weaving machines (including spare parts and accessories) |
|
|
|
|
No. of Employees : |
From 51 To 70 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 high. 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 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level
|
Source
: CIA |
LORIS BELLINI S.R.L.
Via De Gasperi, 29/31
46040 - Casalromano (MN) -IT-
|
Fiscal Code |
: |
00208060202 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/01/1971 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
From 51 To 70 |
Manufacture of textile machinery, machinery and systems for auxiliary y treatment of textiles, sewing and weaving machines (including spar e parts and accessories)
Legal Form : Limited liability company
|
Fiscal Code : 00208060202 |
|
Chamber of Commerce no. : 1970321 of Milano |
|
Chamber of Commerce no. : 122955 of Mantova since 30/05/1972 |
|
V.A.T. Code : 00208060202 |
|
Tribunal Co. Register : 4723 of |
|
Foundation date |
: 02/07/1970 |
|
|
Establishment date |
: 29/07/1970 |
|
|
Start of Activities |
: 01/01/1971 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 103.896 |
|
|
Subscribed Capital |
: 103.896 |
|
|
Paid up Capital |
: 103.896 |
|
|
Bellini |
Roberto |
|
|
Born in Bollate |
(MI) |
on 19/10/1952 |
- Fiscal Code : BLLRRT52R19A940A |
|
|
Residence: |
|
Leopardi |
, 30 |
- 20021 |
Bollate |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/06/2012 |
|
|
|
No Prejudicial events are reported |
|
Vecchia |
Gianmarco |
|
|
Born in Asola |
(MN) |
on 20/01/1968 |
- Fiscal Code : VCCGMR68A20A470Y |
|
|
Residence: |
|
Pasubio |
, 14 |
- 46041 |
Asola |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
10/12/2004 |
|
|
|
No Prejudicial events are reported |
|
No Protests registered |
|
Bellini |
Davide Maria |
|
|
Born in Milano |
(MI) |
on 12/11/1972 |
- Fiscal Code : BLLDDM72S12F205T |
|
|
Residence: |
|
Prealpi |
, 44 |
- 21047 |
Saronno |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
26/06/2012 |
|
|
|
Director |
26/06/2012 |
|
|
|
Managing Director |
26/06/2012 |
|
|
|
No Prejudicial events are reported |
|
No Protests registered |
|
Vitale |
Lorenzo Benedetto |
|
|
Born in Genova |
(GE) |
on 20/04/1939 |
- Fiscal Code : VTLLNZ39D20D969K |
|
|
Residence: |
|
Mario Pagano |
, 51 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
15/11/2011 |
|
|
|
No Prejudicial events are reported |
|
No Protests registered |
|
Minoglia |
Angelo Giuseppe |
|
|
Born in Volta Mantovana |
(MN) |
on 30/11/1953 |
- Fiscal Code : MNGNLG53S30M125Y |
|
|
Residence: |
|
Furga |
, 33 |
- 46013 |
Canneto sull'Oglio |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
08/07/2003 |
|
|
|
Director |
26/06/2012 |
|
|
|
Managing Director |
26/06/2012 |
|
|
|
No Prejudicial events are reported |
|
No Protests registered |
|
Formentini |
Luca |
|
|
Born in Bollate |
(MI) |
on 30/07/1979 |
- Fiscal Code : FRMLCU79L30A940O |
|
|
Residence: |
|
Leopardi |
, 18 |
- 20021 |
Bollate |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/06/2012 |
|
|
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have holded positions.
|
Bellini |
Davide Maria |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Loris Bellini S.p.A. |
Bollate (MI) - IT - |
00695610154 |
Director |
Withdrawn |
Merged |
|
Innovation E Research Srl |
Milano (MI) - IT - |
07834020963 |
Director |
Active |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bellini Roberto |
Bollate - IT - |
BLLRRT52R19A940A |
34.632 .Eur |
33,33 |
|
DE CESARE SILVANA |
Bollate - IT - |
DCSSVN51A42A794R |
11.544 .Eur |
11,11 |
|
Formentini Luca |
Bollate - IT - |
FRMLCU79L30A940O |
23.088 .Eur |
22,22 |
|
Bellini Davide Maria |
|
BLLDDM72S12F205T |
12.987 .Eur |
12,50 |
|
Bellini Alberto |
|
BLLLRT80E31A940G |
12.987 .Eur |
12,50 |
|
Bellini Giovanni |
|
BLLGNN43S23A940J |
8.658 .Eur |
8,33 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Loris Bellini S.p.A. |
Bollate - IT - |
00695610154 |
1.868.400 .Eur |
100,00 |
|
|
Active |
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
since 29/07/1970 |
|
|
|
|
|
|
De Gasperi |
, 29/31 |
- 46040 |
- Casalromano |
(MN) |
- IT - |
|
|
|
|
PHONE |
: 037626019 |
|
|
|
|
PHONE |
: 037676444 |
|
|
|
|
FAX |
: 037676019 |
|
- |
Branch |
(Administrative office) |
since 01/11/2011 |
|
|
|
|
|
|
Xi Febbraio |
, 26 |
- 20021 |
- Bollate |
(MI) |
- IT - |
|
|
|
|
Employees |
: 56 |
|
Fittings and Equipment for a value of 820.000 |
Eur |
|
Stocks for a value of 4.490.000 |
Eur |
|
Furniture and fittings for a value of 34.000 |
Eur |
|
Vehicles for a value of 72.000 |
Eur |
|
|
EX-MEMBERS / EX-POSITIONS:
|
Formentini Orazio |
|
|
|
Born in Bollate |
(MI) |
on 25/01/1950 |
- Fiscal Code : FRMRZO50A25A940B |
|
|
Fiscal residence: |
|
Laopardi |
, 18 |
- 20021 |
Bollate |
(MI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official Publications.
Company's starting of activities dates back to 1971.
Balance sheets for the years 2010, 2011 and 2012 were analyzed.
Under the financial profile unstable results are noted. with a loss in the last financial year. In the last financial year a drop in sales has been registered (-23,16%).
A loss is registered as to the operating result (-9,66%).
The operating loss is equal to Eur. -1.142.307.
It has been registered a negative gross operating margin value of (Eur. -957.252).
Very good financial situation: shareholder's equity covers short-terms debts with an indebtedness level equal to 0,61 increasing compared to last year (0,11)
Subject can manage an equity capital funds for an amount of Eur. 5.460.874 , falling in comparison with the year before.
Total indebtedness was equal to Eur. 5.221.370 (Eur. 73.601 was the value of m/l term debts) showing a stable trend as opposed to 2011 (Eur. 4.567.307).
Bank and suppliers credit recourse is limited, 63,44 gg. is payment average period which is also lower than the sector average.
Payments are supported by good current assets.
Accounts receivable average term is 86,15 days. , that compared to the sector's average is shorter.
Cash flow is negative at the end of financial year 2012.
In the last financial year labour cost was of Eur. 2.744.995, with a 24,69% incidence on total costs of production. , with a 26,4% incidence on turnover.
Financial charges have a limited incidence (-0,05%) on sales volume.
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.399.592 |
|
Profit (Loss) for the period |
-841.834 |
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.535.571 |
|
Profit (Loss) for the period |
28.214 |
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.084.185 |
|
Profit (Loss) for the period |
-101.370 |
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 |
0,08 |
0,07 |
0,55 |
0,18 |
|
Elasticity Ratio |
Units |
0,91 |
0,93 |
0,45 |
0,80 |
|
Availability of stock |
Units |
0,38 |
0,31 |
0,09 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,53 |
0,61 |
0,36 |
0,48 |
|
Quick Ratio |
Units |
0,16 |
0,30 |
0,12 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,61 |
0,11 |
0,06 |
3,25 |
|
Self Financing Ratio |
Units |
0,46 |
0,62 |
0,77 |
0,19 |
|
Capital protection Ratio |
Units |
1,14 |
0,99 |
1,00 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,19 |
0,28 |
0,36 |
0,19 |
|
Financing |
Units |
0,96 |
0,48 |
0,22 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,54 |
0,70 |
0,83 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,08 |
0,06 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,21 |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
6,46 |
10,60 |
1,51 |
1,75 |
|
Current ratio |
Units |
2,09 |
3,27 |
2,71 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,22 |
2,16 |
2,16 |
0,81 |
|
Structure's primary quotient |
Units |
5,48 |
9,39 |
1,40 |
1,03 |
|
Treasury's primary quotient |
Units |
0,37 |
1,05 |
0,70 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
216,47 |
161,06 |
129,63 |
516,42 |
|
Current Capital ( net ) |
Value |
5.610.052 |
9.858.422 |
3.304.723 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
-6,32 |
1,48 |
-1,58 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-15,42 |
0,30 |
-1,13 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-20,41 |
1,39 |
-0,64 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
-9,66 |
-0,88 |
-0,64 |
4,16 |
|
Return/ Sales |
% |
-10,98 |
-1,00 |
-2,40 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
28,57 |
|
Cash Flow |
Value |
-656.779 |
200.279 |
-48.810 |
122.482 |
|
Operating Profit |
Value |
-1.142.307 |
-134.803 |
-74.086 |
144.752 |
|
Gross Operating Margin |
Value |
-957.252 |
37.262 |
-21.526 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
86,15 |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
63,44 |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
155,27 |
128,16 |
122,73 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,88 |
0,88 |
0,26 |
1,08 |
|
Rate of stock return |
Units |
2,32 |
2,81 |
2,93 |
4,45 |
|
Labour cost incidence |
% |
26,40 |
23,66 |
52,10 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-0,05 |
1,01 |
0,06 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
24,69 |
22,42 |
50,87 |
19,02 |
|
Short-term financing charges |
% |
0,79 |
n.c. |
0,00 |
2,68 |
|
Capital on hand |
% |
113,67 |
113,30 |
377,37 |
91,91 |
|
Sales pro employee |
Value |
181.114 |
135.355 |
61.683 |
198.432 |
|
Labour cost pro employee |
Value |
47.805 |
32.026 |
32.139 |
35.779 |
1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.
2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.
3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.
|
Population living in the province |
: |
390.957 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
The values are calculated on a base of 1.206 significant companies.
The companies cash their credits on an average of 112 dd.
The average duration of suppliers debts is about 128 dd.
The sector's profitability is on an average of 3,35%.
The labour cost affects the turnover in the measure of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and the resources used to realize it is about 1,08.
The employees costs represent the 19,02% of the production costs.
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 1.630.
The insolvency index for the region is 0,55, , while for the province it is 0,42.
Total Bankrupt companies in the province : 954.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.27 |
|
|
1 |
Rs.103.47 |
|
Euro |
1 |
Rs.84.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.