MIRA
INFORM REPORT
|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
A.S. PELL. S.R.L. |
|
|
|
|
Registered Office : |
Piazza Garibaldi, 80 80100 - Napoli (NA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
20.01.2003 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale of skins and untreated and treated leather (except skins for
furs) |
|
|
|
|
No. of Employees : |
from 1 to 5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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, 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 and address
A.S. PELL. S.R.L.
Piazza Garibaldi, 80
80100 - Napoli (NA) Italy
Summary
|
Fiscal Code |
: |
04346841218 |
|
Legal Form |
: |
Limited liability company |
|
Establishment Date |
: |
20/01/2003 |
|
Equity |
: |
300.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Wholesale of skins and untreated and treated leather (except skins for
furs)
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 04346841218 |
|
Foreign Trade Reg. no. : NA043995 since 20/07/2011 |
|
Chamber of Commerce no. : 209665 of Caserta |
|
Chamber of Commerce no. : 689756 of Napoli since 06/02/2003 |
|
V.A.T. Code : 04346841218 |
|
Establishment date |
: 20/01/2003 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
|
Members
|
|
Festa |
Simona |
|
|
|
Born in Napoli |
(NA) |
on 28/04/1972 |
- Fiscal Code : FSTSMN72D68F839L |
|
|
|
Residence: |
|
Degli Aranci |
, 2 |
- 80100 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/11/2007 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Santoro |
Antonio |
|
|
|
Born in Napoli |
(NA) |
on 27/09/1968 |
- Fiscal Code : SNTNTN68P27F839Q |
|
|
|
Residence: |
|
Letizia |
, 9 |
- 80131 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/11/2007 |
|
|
|
|
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.
|
|
Santoro |
Antonio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Palmieri Pellami S.r.l. |
Napoli (NA) - IT - |
06561180636 |
Sole Director |
Withdrawn |
Registered |
|
F.t.s. Leather S.r.l. |
Napoli (NA) - IT - |
06266931218 |
Sole Director |
Withdrawn |
Registered |
|
Alessia Leathers S.r.l. |
Montoro Inferiore (AV) - IT - |
02674830647 |
Sole Director |
Active |
Registered |
|
Alessia Leathers S.r.l. |
Montoro Inferiore (AV) - IT - |
02674830647 |
Sole partner |
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.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style /
Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Santoro Antonio |
Napoli - IT - |
SNTNTN68P27F839Q |
5.000 .Eur |
50,00 |
|
Festa Simona |
Napoli - IT - |
FSTSMN72D68F839L |
5.000 .Eur |
50,00 |
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 |
|
|
|
|
|
|
|
Garibaldi |
, 80 |
- 80100 |
- Napoli |
(NA) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/07/2003 |
|
|
|
|
|
|
Consortile Sona Asi |
- 81032 |
- Carinaro |
(CE) |
- IT - |
|
|
|
|
PHONE |
: 0815029759 |
|
|
|
|
Employees |
: 3 |
|
Fittings and Equipment for a value of 6.000 |
Eur |
|
Stocks for a value of 1.660.000 |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA DI ROMA SPA |
NAPOLI 27 |
VIA EDUARDO NICOLARDI, 38 |
80100 |
Napoli (NA) |
3002 |
3412 |
Financial and Economical Analysis
The company is active since 2003
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 recorded positive net results (r.o.e. 20,15%
in 2012)
The operating result in 2012 was positive (5,94%) and in line with the
sector's average.
The operating result is positive and amounts to Eur. 240.512 increasing
if compared to the yeart 2011.
During the latest financial year the gross operating margin amounted to
Eur. 243.710 growing by 33,7% if compared to the year before.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (14,95) which is rising compared to 2011.
It's shareholders funds amount to Eur. 252.065 on stable levels.
Total indebtedness totalled Eur. 3.780.062, increasing if compared to
the previous year, during which they were equal to Eur. 2.732.618 (38,33%).
Both financial indebtedness as well as exsposure to suplliers are rated
as fairly high besides being higher than sector's average.
Neverthless available funds are good.
As far as the collection of credit goes, the average is high (190,72
days). and higher than the average of the sector.
2012 financial year closed with a cash flow of Eur. 53.995
Labour cost amounts to Eur. 72.061, with a 1,82% incidence on production
costs. , whereas the incidence of such costs on sales revenues is equal to
1,73%.
The incidence percentage of financial charges on sales volume is equal
to -2,94%.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.175.340 |
|
Profit (Loss) for the period |
50.797 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.773.937 |
|
Profit (Loss) for the period |
38.011 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.278.815 |
|
Profit (Loss) for the period |
47.967 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.633.539 |
|
Profit (Loss) for the period |
62.953 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.326.966 |
|
Profit (Loss) for the period |
58.784 |
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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|
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 |
0,01 |
0,02 |
0,02 |
0,11 |
|
Elasticity Ratio |
Units |
0,99 |
0,98 |
0,98 |
0,87 |
|
Availability of stock |
Units |
0,41 |
0,21 |
0,05 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,58 |
0,78 |
0,93 |
0,61 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,04 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
14,95 |
11,49 |
10,29 |
3,90 |
|
Self Financing Ratio |
Units |
0,06 |
0,08 |
0,08 |
0,17 |
|
Capital protection Ratio |
Units |
0,76 |
0,80 |
0,73 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,00 |
0,00 |
0,00 |
0,09 |
|
Financing |
Units |
15,00 |
11,57 |
10,75 |
4,57 |
|
Permanent Indebtedness Ratio |
Units |
0,07 |
0,08 |
0,09 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
3,50 |
3,21 |
2,38 |
0,96 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
6,26 |
5,42 |
4,69 |
2,10 |
|
Current ratio |
Units |
1,06 |
1,07 |
1,07 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,62 |
0,85 |
1,02 |
0,86 |
|
Structure's primary quotient |
Units |
5,84 |
5,18 |
4,47 |
1,34 |
|
Treasury's primary quotient |
Units |
0,00 |
0,01 |
0,04 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1606,82 |
1261,12 |
1180,20 |
587,66 |
|
Current Capital ( net ) |
Value |
225.796 |
198.628 |
171.045 |
135.886 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,29 |
0,85 |
1,23 |
1,61 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
20,15 |
16,09 |
22,49 |
5,01 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
46,61 |
42,12 |
51,62 |
13,67 |
|
Return on Investment ( R.O.I. ) |
% |
5,94 |
6,03 |
6,28 |
4,30 |
|
Return/ Sales |
% |
5,76 |
3,76 |
3,70 |
2,39 |
|
Extra Management revenues/charges incid. |
% |
21,12 |
21,17 |
30,34 |
27,17 |
|
Cash Flow |
Value |
53.995 |
40.748 |
52.687 |
47.597 |
|
Operating Profit |
Value |
240.512 |
179.541 |
158.107 |
71.380 |
|
Gross Operating Margin |
Value |
243.710 |
182.278 |
162.827 |
124.518 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
190,72 |
166,93 |
185,94 |
90,43 |
|
Debts to suppliers average term |
Days |
207,97 |
139,30 |
169,81 |
76,51 |
|
Average stock waiting period |
Days |
143,27 |
46,30 |
10,59 |
37,27 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,03 |
1,60 |
1,70 |
1,64 |
|
Rate of stock return |
Units |
2,51 |
7,78 |
34,00 |
9,56 |
|
Labour cost incidence |
% |
1,73 |
1,56 |
1,02 |
4,81 |
|
Net financial revenues/ charges incidence |
% |
-2,94 |
-1,83 |
-1,13 |
-0,99 |
|
Labour cost on purchasing expenses |
% |
1,82 |
1,62 |
1,06 |
4,83 |
|
Short-term financing charges |
% |
3,30 |
3,26 |
2,16 |
2,90 |
|
Capital on hand |
% |
97,00 |
62,41 |
58,82 |
60,86 |
|
Sales pro employee |
Value |
2.087.670 |
2.386.968 |
4.278.815 |
686.413 |
|
Labour cost pro employee |
Value |
36.030 |
37.240 |
43.639 |
33.271 |
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 |
: |
|
Monthly 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 941 significant companies.
The companies cash their credits on an average of 90 dd.
The average duration of suppliers debts is about 77 dd.
The sector's profitability is on an average of 1,61%.
The labour cost affects the turnover in the measure of 4,81%.
Goods are held in stock in a range of 37 dd.
The difference between the sales volume and the resources used to
realize it is about 1,64.
The employees costs represent the 4,83% of the production costs.
Statistical Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered remarkably risky.
In the region 80.616 protested subjects are found; in the province they
count to 41.815.
The insolvency index for the region is 1,40, , while for the province it
is 1,36.
Total Bankrupt companies in the province : 18.217.
Total Bankrupt companies in the region : 28.514.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
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.