MIRA
INFORM REPORT
|
Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECNOMEC3 S.R.L. |
|
|
|
|
Registered Office : |
Via Manzoni, 6/E, 21029 – Vergiate (VA) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.06.1992 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of machinery and equipment n.e.c. |
|
|
|
|
No. of Employees : |
from 11 to 15 |
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 |
Company name & address
TECNOMEC3 S.R.L.
Via Manzoni, 6/E
21029 – Vergiate (VA) -IT-
Summary
|
Fiscal Code |
: |
02060040124 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
05/10/1992 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
Activity
General mechanics
MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C.
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 02060040124 |
|
Foreign Trade Reg. no. : VA048267 since 18/06/1999 |
|
Chamber of Commerce no. : 1525464 of Milano |
|
Chamber of Commerce no. : 227337 of Varese since 27/07/1992 |
|
Firms' Register : 26106 of Varese |
|
V.A.T. Code : 02060040124 |
|
Establishment date |
: 30/06/1992 |
|
|
Start of Activities |
: 05/10/1992 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 10.400 |
|
|
Subscribed Capital |
: 10.400 |
|
|
Paid up Capital |
: 10.400 |
|
Members
|
|
Porta Maffe' |
Franco Remo |
|
|
|
Born in Somma Lombardo |
(VA) |
on 25/05/1947 |
- Fiscal Code : PRTFNC47E25I819U |
|
|
|
Residence: |
|
Prada |
, 17 |
- 21029 |
Vergiate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/06/1992 |
|
|
|
|
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 |
|
Porta Maffe' Franco Remo |
Vergiate - IT - |
PRTFNC47E25I819U |
3.467 .Eur |
33,34 |
|
Carelli Valter |
|
CRLVTR55P22E801Z |
3.466 .Eur |
33,33 |
|
Carelli Christian |
|
CRLCRS74C25E801O |
3.466 .Eur |
33,33 |
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 |
|
Mecma Srl, In Liquidazione |
|
03275820128 |
5.100 .Eur |
51,00 |
|
|
Active |
|
Tecma S.r.l. |
|
03291240129 |
10.200 .Eur |
51,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Manzoni |
, 6/E |
- 21029 |
- Vergiate |
(VA) |
- IT - |
|
|
|
|
PHONE |
: 0331891065 |
|
- |
Branch |
(Factory) |
since 29/12/1996 |
|
|
|
|
|
|
Cascinaccia Bassa |
, 1 |
- 20029 |
- Turbigo |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 0331891065 |
|
|
|
|
Employees |
: 15 |
|
Fittings and Equipment for a value of 130.000 |
Eur |
|
Stocks for a value of 300.000 |
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 is active since 1992
An eco-fin analysis has been made on the base od the b/s fo the years
2010, 2011 and 2012.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 17,48% in 2012
The operating result was positive in the last financial year (19,8%) and
is higher than the sector's average.
The amount of the operating result for the year 2012 is of Eur.
1.328.572 , with no sizeable change as opposed to the year before.
The economic management produced a gross operating margin of Eur.
1.392.862 with no sensible increase as against 2011.
Indebtedness is scanty since debts are lower than liquidity.
Subject can manage an equity capital funds for an amount of Eur.
5.310.749 on stable levels.
In the year 2012 total debts amounted to Eur. 1.160.756 showing a stable
trend as opposed to 2011 (Eur. 1.306.467).
Available funds are good.
The financial management generated a cash flow of Eur. 992.576.
Labour cost expenses amount to Eur. 606.033 , representing 17,23% on the
total of production costs. , whereas the incidence of such costs on sales
revenues is equal to 12,59%.
The financial charges are lower than the financial incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.813.548 |
|
Profit (Loss) for the period |
928.286 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.463.741 |
|
Profit (Loss) for the period |
1.122.023 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.319.437 |
|
Profit (Loss) for the period |
532.675 |
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 |
|
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|
|
|
PROFIT AND LOSS
ACCOUNTS |
|
VALUE OF PRODUCTION |
|
|
|
|
. Revenues from sales and services |
4.813.548 |
5.463.741 |
4.319.437 |
|
. Changes in work in progress |
|
|
|
|
. Changes in semi-manufact. products |
|
|
|
|
. Capitalization of internal work |
|
|
|
|
. Other income and revenues |
31.994 |
22.058 |
16.218 |
|
. . Contributions for operating expenses |
|
|
|
|
. . Different income and revenues |
31.994 |
22.058 |
16.218 |
|
Total value of production |
4.845.542 |
5.485.799 |
4.335.655 |
|
PRODUCTION COSTS |
|
|
|
|
. Raw material,other materials and consum. |
1.842.873 |
2.315.115 |
1.923.577 |
|
. Services received |
934.371 |
912.139 |
925.777 |
|
. Leases and rentals |
|
|
|
|
. Payroll and related costs |
606.033 |
609.218 |
549.151 |
|
. . Wages and salaries |
421.792 |
432.237 |
387.597 |
|
. . Social security contributions |
148.028 |
146.770 |
136.478 |
|
. . Employee termination indemnities |
30.245 |
30.211 |
25.076 |
|
. . Pension and similar |
|
|
|
|
. . Other costs |
5.968 |
|
|
|
. Amortization and depreciation |
64.290 |
47.049 |
48.498 |
|
. . Amortization of intangible fixed assets |
|
|
693 |
|
. . Amortization of tangible fixed assets |
40.710 |
47.049 |
47.805 |
|
. . Depreciation of tangible fixed assets |
|
|
|
|
. . Writedown of current receiv.and of liquid |
23.580 |
|
|
|
. Changes in raw materials |
57.423 |
-51.951 |
-14.700 |
|
. Provisions to risk reserves |
|
9.250 |
6.200 |
|
. Other provisions |
|
|
|
|
. Other operating costs |
11.980 |
33.216 |
80.611 |
|
Total production costs |
3.516.970 |
3.874.036 |
3.519.114 |
|
Diff. between value and cost of product. |
1.328.572 |
1.611.763 |
816.541 |
|
FINANCIAL INCOME AND EXPENSE |
|
|
|
|
. Income from equity investments |
|
|
|
|
. . In subsidiary companies |
|
|
|
|
. . In associated companies |
|
|
|
|
. . In other companies |
|
|
|
|
. Other financial income |
39.734 |
24.472 |
8.640 |
|
. . Financ.income from receivables |
|
|
|
|
. . . Towards subsidiary companies |
|
|
|
|
. . . Towards associated companies |
|
|
|
|
. . . Towards holding companies |
|
|
|
|
. . . Towards other companies |
|
|
|
|
. . Financ.income from secur. t.f.assets |
|
|
|
|
. . Financ.income from secur. cur.assets |
|
|
|
|
. . Financ.income other than the above |
39.734 |
24.472 |
8.640 |
|
. . . - Subsidiary companies |
|
|
|
|
. . . - Associated companies |
|
|
|
|
. . . - Holding companies |
|
|
|
|
. . . - Other companies |
39.734 |
24.472 |
|
|
. Interest and other financial expense |
-15.096 |
-3.771 |
-15.236 |
|
. . Towards subsidiary companies |
|
|
|
|
. . Towards associated companies |
|
|
|
|
. . Towards holding companies |
|
|
|
|
. . Towards other companies |
15.096 |
3.771 |
|
|
Total financial income and expense |
24.638 |
20.701 |
-6.596 |
|
ADJUSTMENTS TO FINANCIAL ASSETS |
|
|
|
|
. Revaluations |
|
|
|
|
. . Of equity investments |
|
|
|
|
. . Of financ.fixed assets not repres.E.I. |
|
|
|
|
. . Of securities incl.among current assets |
|
|
|
|
. Devaluation |
|
|
|
|
. . Of equity investments |
|
|
|
|
. . Of financial fixed assets (no equity inv) |
|
|
|
|
. . Of securities included among current ass |
|
|
|
|
Total adjustments to financial assets |
|
|
|
|
EXTRAORDINARY INCOME AND EXPENSE |
|
|
|
|
. Extraordinary income |
31.298 |
58.084 |
13.732 |
|
. . Gains on disposals |
3.000 |
11 |
|
|
. . Other extraordinary income |
28.298 |
58.073 |
13.732 |
|
. Extraordinary expense |
-14.596 |
-14.521 |
-5.394 |
|
. . Losses on disposals |
|
|
|
|
. . Taxes relating to prior years |
|
|
|
|
. . Other extraordinary expense |
-14.596 |
-14.521 |
-5.394 |
|
Total extraordinary income and expense |
16.702 |
43.563 |
8.338 |
|
Results before income taxes |
1.369.912 |
1.676.027 |
818.283 |
|
. Taxes on current income |
441.626 |
554.004 |
285.608 |
|
. . current taxes |
441.626 |
554.004 |
285.608 |
|
. . differed taxes(anticip.) |
|
|
|
|
. Net income for the period |
928.286 |
1.122.023 |
532.675 |
|
. Adjustments in tax regulations pursuance |
|
|
|
|
. Provisions in tax regulations pursuance |
|
|
|
|
. Profit (loss) of the year |
928.286 |
1.122.023 |
532.675 |
|
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 |
0,13 |
0,10 |
0,12 |
0,16 |
|
Elasticity Ratio |
Units |
0,87 |
0,90 |
0,88 |
0,82 |
|
Availability of stock |
Units |
0,04 |
0,06 |
0,06 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,82 |
0,84 |
0,82 |
0,56 |
|
Quick Ratio |
Units |
0,57 |
0,49 |
0,45 |
0,04 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
n.c. |
3,10 |
|
Self Financing Ratio |
Units |
0,79 |
0,75 |
0,71 |
0,19 |
|
Capital protection Ratio |
Units |
0,82 |
0,75 |
0,85 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,38 |
0,14 |
0,12 |
0,16 |
|
Financing |
Units |
0,22 |
0,29 |
0,36 |
4,16 |
|
Permanent Indebtedness Ratio |
Units |
0,85 |
0,78 |
0,74 |
0,38 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,03 |
0,03 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
0,00 |
0,02 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
6,49 |
8,03 |
6,26 |
1,80 |
|
Current ratio |
Units |
5,87 |
4,17 |
3,50 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
5,57 |
3,89 |
3,27 |
0,96 |
|
Structure's primary quotient |
Units |
6,06 |
7,71 |
6,00 |
1,18 |
|
Treasury's primary quotient |
Units |
3,87 |
2,28 |
1,79 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
126,35 |
133,53 |
141,48 |
534,62 |
|
Current Capital ( net ) |
Value |
4.836.074 |
4.137.234 |
3.167.555 |
881.162 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
20,62 |
21,40 |
13,45 |
3,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
17,48 |
24,76 |
14,96 |
8,90 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
25,80 |
36,98 |
22,98 |
19,94 |
|
Return on Investment ( R.O.I. ) |
% |
19,80 |
26,63 |
16,21 |
5,24 |
|
Return/ Sales |
% |
27,60 |
29,50 |
18,90 |
4,57 |
|
Extra Management revenues/charges incid. |
% |
69,87 |
69,61 |
65,24 |
35,24 |
|
Cash Flow |
Value |
992.576 |
1.169.072 |
581.173 |
214.985 |
|
Operating Profit |
Value |
1.328.572 |
1.611.763 |
816.541 |
310.321 |
|
Gross Operating Margin |
Value |
1.392.862 |
1.668.062 |
865.101 |
419.513 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
129,26 |
117,11 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
125,54 |
124,74 |
|
Average stock waiting period |
Days |
22,45 |
23,50 |
24,87 |
56,77 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,72 |
0,90 |
0,86 |
1,11 |
|
Rate of stock return |
Units |
16,04 |
15,32 |
14,48 |
6,23 |
|
Labour cost incidence |
% |
12,59 |
11,15 |
12,71 |
17,11 |
|
Net financial revenues/ charges incidence |
% |
0,51 |
0,38 |
-0,15 |
-0,80 |
|
Labour cost on purchasing expenses |
% |
17,23 |
15,73 |
15,60 |
17,78 |
|
Short-term financing charges |
% |
1,30 |
0,29 |
1,20 |
2,20 |
|
Capital on hand |
% |
139,40 |
110,77 |
116,62 |
89,56 |
|
Sales pro employee |
Value |
267.419 |
287.565 |
254.084 |
208.953 |
|
Labour cost pro employee |
Value |
33.668 |
32.064 |
32.303 |
36.854 |
Remarks
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.
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
843.250Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Statistical Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they count
to 4.597.
The insolvency index for the region is 0,55, , while for the province it
is 0,55.
Total Bankrupt companies in the province : 3.052.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
|
1 |
Rs.102.39 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.