MIRA INFORM REPORT
|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIMACO ELETTROMECCANICA SRL |
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|
|
|
Registered Office : |
Presso Strada Statale
235,N.16, Cadilana, 26834-Corte Palasio (Lo) |
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Country : |
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|
Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
24.06.1969 |
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Com. Reg. No.: |
LO031-1577 of |
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|
|
Legal Form : |
Limited Liability Company |
|
|
|
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Line of Business : |
Subject operates in the
Fluid moving technology industry. |
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|
|
No. of Employees : |
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 |
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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, 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 |
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High |
B2 |
|
Very High |
C1 |
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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
Simaco Elettromeccanica Srl
PRESSO Strada Statale 235,n.16, CADILANA
26834 - Corte Palasio (LO) -IT-
Summary
|
Fiscal Code |
: |
00897170155 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
24/06/1969 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
15 |
Activity
The company operates in the Fluid moving technology industry.
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 00897170155 |
|
Foreign Trade Reg. no. : LO000561 since
11/12/1991 |
|
Foreign Trade Reg. no. : 561 of Lodi since
11/12/1991 |
|
Foreign Trade Reg. no. : 000561 of Lodi
since 11/12/1991 |
|
Chamber of Commerce no. : 784553 of Lodi
since 27/06/1969 |
|
Firms' Register : LO031-1577 of Lodi since
19/02/1996 |
|
V.A.T. Code : 00897170155 |
|
Foundation date |
: 24/06/1969 |
|
|
Establishment date |
: 24/06/1969 |
|
|
Start of Activities |
: 24/06/1969 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Members
|
|
Guercilena |
Laura |
|
|
|
Born in Milano |
(MI) |
on 01/03/1972 |
- Fiscal Code : GRCLRA72C41F205D |
|
|
|
Residence: |
|
Xxv Aprile |
, 11 |
- 26834 |
Corte Palasio |
(LO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
07/01/2007 |
|
|
|
|
Guercilena |
Andrea |
|
|
|
Born in Milano |
(MI) |
on 20/10/1969 |
- Fiscal Code : GRCNDR69R20F205C |
|
|
|
Residence: |
|
Della Gera D'adda |
, 12 |
- 26900 |
Lodi |
(LO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
28/05/2012 |
|
|
|
Director |
07/01/2007 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Guercilena |
Maria Emanuela |
|
|
|
Born in Milano |
(MI) |
on 02/09/1964 |
- Fiscal Code : GRCMMN64P42F205E |
|
|
|
Residence: |
|
Erbagno |
, 43 |
- 26900 |
Lodi |
(LO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
07/01/2007 |
|
|
|
|
Guercilena |
Luca |
|
|
|
Born in Milano |
(MI) |
on 21/04/1967 |
- Fiscal Code : GRCLCU67D21F205X |
|
|
|
Residence: |
|
Della Gera D'adda |
, 12 |
- 26900 |
Lodi |
(LO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
07/01/2007 |
|
|
|
|
Guercilena |
Giuseppe |
|
|
|
Born in Lodi |
(MI) |
on 29/03/1929 |
- Fiscal Code : GRCGPP29C29E648P |
|
|
|
Residence: |
|
Spolverera |
, 73 |
- 26900 |
Lodi |
(LO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
07/01/2007 |
|
|
|
Board Chairman |
07/01/2007 |
|
|
|
|
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.
|
|
Guercilena |
Giuseppe |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Consorzio Per L'internazionalizzazione ELa
Promozione All'esportazione Lodi Exp |
Lodi (LO) - IT - |
03935220156 |
Director |
Withdrawn |
Registered |
|
Consorzio Per L'internazionalizzazione ELa
Promozione All'esportazione Lodi Exp |
Lodi (LO) - IT - |
03935220156 |
Memb. of the
Steering Committee |
Withdrawn |
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 |
|
Guercilena Luca |
Lodi - IT - |
GRCLCU67D21F205X |
26.624 .Eur |
26,62 |
|
Guercilena Maria Emanuela |
Lodi - IT - |
GRCMMN64P42F205E |
26.624 .Eur |
26,62 |
|
Guercilena Andrea |
Lodi - IT - |
GRCNDR69R20F205C |
26.624 .Eur |
26,62 |
|
Guercilena Laura |
Corte Palasio - IT - |
GRCLRA72C41F205D |
20.124 .Eur |
20,12 |
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 |
|
Consorzio Ecor'it - Sistema Collettivo P
er La Gestione Dei Raee D I Nuclei Domes |
Milano - IT - |
05083280965 |
|
|
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
since 24/06/1969 |
|
|
|
|
|
|
Strada Statale 235,n.16 |
, Loc: CADILANA |
- 20070 |
- Corte Palasio |
(LO) |
- IT - |
|
|
|
|
PHONE |
: 037159181 |
|
|
|
|
Employees |
: 15 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
380.000 |
Eur |
|
Stocks for a value of 1.360.000 |
Eur |
|
Furniture and fittings for a value of
5.000 |
Eur |
|
Vehicles for a value of 5.000 |
Eur |
Trade organization: direct or by agents.
The company sells in Italy and abroad.
The company 's mainly customers are
companies.
|
|
The firm operates abroad as exporter..
Export represents more than 50% of the global
turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- direct orders from foreign companies |
Subject generally proposes terms of sale
between 30 and 60 days.
Financial means used for sale: bank
transfers and bank orders.
Purchases are mainly paid with terms of
30/90 days.
Main used payment modalities are by cash
orders and bank transfers.
Export is mainly towards:
|
- Italy |
|
- Bulgaria |
|
- Hungary |
|
- France |
|
- Poland |
|
- Great Britain |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Other forms |
Limited liability company |
25/11/1986 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Guercilena |
Giuseppe |
|
|
|
Born in Lodi |
(MI) |
on 29/03/1929 |
- Fiscal Code : GRCGPP29C29E648P |
|
|
|
Residence: |
|
Spolverera |
, 73 |
- 26900 |
Lodi |
(LO) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Managing Director |
|
|
COMBI LILIANA |
|
|
|
|
Born in COMO |
(CO) |
on 17/07/1940 |
- Fiscal Code : CMBLLN40L57C933J |
|
|
|
Residence: |
|
SPOLVERERA |
, 73 |
- 26900 |
Lodi |
(LO) |
- IT - |
|
Ex-Postions |
|
Director |
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 1969
The analysis is based on the latest 3
balance sheets.
During the last years, it achieved profits (r.o.e.
5,61% on 2012)
The operating result was positive in the
last financial year (5,58%) falling within the field's average.
An operating result of Eur. 397.257 has been
registered. with a -36,45% drop.
During the latest financial year the gross
operating margin amounted to Eur. 797.491 recording a -22,74% decrease.
From a financial aspect the company's status
covers total short-term debts; the indebtedness volume in 2012 is in fact 0,03
which is yet rising if compared to 2011.
It's shareholders funds amount to Eur.
6.288.181 , unchanged if compared to 2011.
Eur. 435.811 is the amount of total debts,
both commercial and of different nature, as opposed to Eur. 772.631 in 2011,
with a decrease equal to -43,59%.
Liquidity is good.
2012 financial year closed with a cash flow
of Eur. 753.147
Subordinate employment cost is of Eur.
629.821, i.e. 17,51% on total production costs. , whereas 16% is the incidence
on sales revenues.
Financial incomes cover financial charges.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.935.751 |
|
Profit (Loss) for the period |
352.913 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.437.017 |
|
Profit (Loss) for the period |
455.463 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.060.209 |
|
Profit (Loss) for the period |
369.849 |
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 |
0,59 |
0,53 |
0,42 |
0,26 |
|
Elasticity Ratio |
Units |
0,40 |
0,47 |
0,58 |
0,73 |
|
Availability of stock |
Units |
0,19 |
0,19 |
0,15 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,21 |
0,27 |
0,42 |
0,44 |
|
Quick Ratio |
Units |
0,04 |
0,09 |
0,27 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,03 |
0,02 |
n.c. |
1,74 |
|
Self Financing Ratio |
Units |
0,88 |
0,84 |
0,86 |
0,29 |
|
Capital protection Ratio |
Units |
0,93 |
0,91 |
0,93 |
0,64 |
|
Liabilities consolidation quotient |
Units |
0,59 |
0,30 |
0,30 |
0,22 |
|
Financing |
Units |
0,07 |
0,13 |
0,11 |
2,30 |
|
Permanent Indebtedness Ratio |
Units |
0,92 |
0,87 |
0,88 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,03 |
0,03 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,49 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,56 |
1,64 |
2,11 |
1,63 |
|
Current ratio |
Units |
6,60 |
4,28 |
5,99 |
1,32 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
3,47 |
2,52 |
4,42 |
0,86 |
|
Structure's primary quotient |
Units |
1,50 |
1,58 |
2,04 |
1,05 |
|
Treasury's primary quotient |
Units |
0,64 |
0,82 |
2,79 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
113,17 |
119,21 |
116,91 |
349,01 |
|
Current Capital ( net ) |
Value |
2.441.821 |
2.535.090 |
3.524.889 |
753.266 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
19,14 |
19,44 |
19,41 |
5,13 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
5,61 |
7,67 |
5,89 |
7,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
8,43 |
11,81 |
9,18 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
5,58 |
8,84 |
7,22 |
5,36 |
|
Return/ Sales |
% |
10,09 |
14,09 |
13,05 |
5,57 |
|
Extra Management revenues/charges incid. |
% |
88,84 |
72,86 |
69,78 |
42,11 |
|
Cash Flow |
Value |
753.147 |
862.586 |
788.245 |
344.143 |
|
Operating Profit |
Value |
397.257 |
625.156 |
530.022 |
359.008 |
|
Gross Operating Margin |
Value |
797.491 |
1.032.279 |
948.418 |
705.726 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
101,37 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
115,52 |
|
Average stock waiting period |
Days |
124,84 |
110,65 |
98,62 |
80,62 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,55 |
0,63 |
0,55 |
1,07 |
|
Rate of stock return |
Units |
2,88 |
3,25 |
3,65 |
4,40 |
|
Labour cost incidence |
% |
16,00 |
13,25 |
12,37 |
16,91 |
|
Net financial revenues/ charges incidence |
% |
2,47 |
1,37 |
0,85 |
-1,19 |
|
Labour cost on purchasing expenses |
% |
17,51 |
15,19 |
13,85 |
17,25 |
|
Short-term financing charges |
% |
0,05 |
0,29 |
0,20 |
2,71 |
|
Capital on hand |
% |
180,81 |
159,47 |
180,82 |
93,00 |
|
Sales pro employee |
Value |
207.144 |
246.500 |
270.680 |
223.920 |
|
Labour cost pro employee |
Value |
33.148 |
32.657 |
33.487 |
35.625 |
Market / Territory Data
|
Population living in the province |
: |
209.129 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expenses average in the
region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 918
significant companies.
The companies cash their credits on an
average of 101 dd.
The average duration of suppliers debts is about
116 dd.
The sector's profitability is on an average
of 5,13%.
The labour cost affects the turnover in the
measure of 16,91%.
Goods are held in stock in a range of 81 dd.
The difference between the sales volume and
the resources used to realize it is about 1,07.
The employees costs represent the 17,25% of
the production costs.
Statistical Detrimental Data
Statistically 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 788.
The insolvency index for the region is 0,55,
, while for the province it is 0,38.
Total Bankrupt companies in the province :
515.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
UK Pound |
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
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.