|
Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BICISUPPORT S.R.L. |
|
|
|
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Registered Office : |
Via Degli Artigiani, 31/A ROGOREDO 23880 - Casatenovo |
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Country : |
Italy |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
02.11.2005 |
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Legal Form : |
Sole-Member Limited Liability Company |
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Line of Business : |
Manufacture of spare parts and accessories for bicycles |
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No. of Employees : |
From 6 to 10 |
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 : |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
BICISUPPORT S.R.L.
Via Degli Artigiani, 31/A ROGOREDO
23880 - Casatenovo (LC) -IT-
|
Fiscal Code |
: |
02920000136 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
02/11/2005 |
|
Equity |
: |
100.000 |
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Turnover Range |
: |
1.000.000/1.250.000 |
|
Number of Employees |
: |
from 6 to 10 |
Manufacture of spare parts and accessories for bicycles
Legal Form : Sole-Member Limited Liability Company
|
Register of Handcraft firms : 119881 of Lecco |
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Fiscal Code : 02920000136 |
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Chamber of Commerce no. : 301977 of Lecco since 11/10/2005 |
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V.A.T. Code : 02920000136 |
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Establishment date |
: 03/10/2005 |
|
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Start of Activities |
: 02/11/2005 |
|
|
Legal duration |
: 31/12/2040 |
|
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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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Vergani |
Massimo |
|
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Born in Carate Brianza |
(MB) |
on 10/11/1967 |
- Fiscal Code : VRGMSM67S10B729Z |
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Residence: |
|
Ludovico Lazzaro Zamenhof |
, 1 |
- 22100 |
Como |
(CO) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Sole Director |
30/04/2012 |
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|
|
Sole partner |
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No Prejudicial events are reported |
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No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have holded positions.
|
Vergani |
Massimo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
3 V S.r.l. |
Besana in Brianza (MB) - IT - |
03222310967 |
Sole Director |
Active |
Registered |
|
3 V S.r.l. |
Besana in Brianza (MB) - IT - |
03222310967 |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Vergani Massimo |
Como - IT - |
VRGMSM67S10B729Z |
|
100,00 |
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
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|
|
|
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Degli Artigiani |
, 31/A |
- 22064 |
- Casatenovo |
(LC) |
- IT - |
|
|
|
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Employees |
: 5 |
|
|
|
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Assistants |
: 1 |
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Fittings and Equipment for a value of 52.000 |
Eur |
|
Stocks for a value of 220.000 |
Eur |
|
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CEASINGS/INCORPORATIONS/MERGES:
|
The firm took over the activity of |
|
|
|
Buzzi Carlo |
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Date |
: |
02/02/2006 |
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.
The company is active since 2005
The economic-financial analysis has been made on the base of the b/s of the latests three years.
Under an economic point of view, profits were registered during the last years with a r.o.e. of 30,58% in 2012 with a stable trend in the turnover.
The operating result in 2012 was positive (12,6%) and reflects the field's average.
The amount of the operating result is equal to Eur. 56.548 ,showing stability in respect to the value of 2011.
The G.O.M. amounted to Eur. 79.575 on the same levels as the previous financial year.
The financial status of the company is fairly balanced with an indebtedness level of 3,28 with an improving trend as on the decrease.
It's shareholders funds amount to Eur. 81.046 , with an upward trend.
In the year 2012 total debts amounted to Eur. 332.973 on the same levels as the year before.
The company does not exceed in bank credits; payments average period is instead slightly high (108,11 gg.) but lined up with the field's average.
It shows a good range of liquidity.
Trade credits average terms are 18,03 days. , shorter than the sector's average.
As far as the cash flow is concerned during the latest financial year it amounted to Eur. 47.810
Labour cost amounts to Eur. 179.768, with a 17,33% incidence on production costs. , with a 16,67% incidence on turnover.
If compared to the sales volume (-1,12%), the impact of the financial charges is limited.
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Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.078.419 |
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Profit (Loss) for the period |
24.783 |
From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.
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- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value Type |
as at 31/12/2012 |
Sector Average |
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COMPOSITION ON INVESTMENT |
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Rigidity Ratio |
Units |
0,26 |
0,23 |
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Elasticity Ratio |
Units |
0,73 |
0,74 |
|
Availability of stock |
Units |
0,49 |
0,28 |
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Total Liquidity Ratio |
Units |
0,23 |
0,39 |
|
Quick Ratio |
Units |
0,08 |
0,01 |
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COMPOSITION ON SOURCE |
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Net Short-term indebtedness |
Units |
3,28 |
2,39 |
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Self Financing Ratio |
Units |
0,18 |
0,23 |
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Capital protection Ratio |
Units |
0,57 |
0,75 |
|
Liabilities consolidation quotient |
Units |
0,20 |
0,17 |
|
Financing |
Units |
4,11 |
3,06 |
|
Permanent Indebtedness Ratio |
Units |
0,31 |
0,39 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,99 |
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CORRELATION |
|
|
|
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Fixed assets ratio |
Units |
1,23 |
1,54 |
|
Current ratio |
Units |
1,08 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,35 |
0,65 |
|
Structure's primary quotient |
Units |
0,71 |
0,84 |
|
Treasury's primary quotient |
Units |
0,12 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
553,82 |
424,11 |
|
Current Capital ( net ) |
Value |
24.289 |
344.742 |
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RETURN |
|
|
|
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Return on Sales (R.O.S.) |
% |
4,43 |
5,02 |
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Return on Equity - Net- ( R.O.E. ) |
% |
30,58 |
2,92 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
54,82 |
9,84 |
|
Return on Investment ( R.O.I. ) |
% |
12,60 |
4,38 |
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Return/ Sales |
% |
5,24 |
4,75 |
|
Extra Management revenues/charges incid. |
% |
43,83 |
30,16 |
|
Cash Flow |
Value |
47.810 |
210.492 |
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Operating Profit |
Value |
56.548 |
203.076 |
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Gross Operating Margin |
Value |
79.575 |
374.222 |
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MANAGEMENT |
|
|
|
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Credits to clients average term |
Days |
18,03 |
91,34 |
|
Debts to suppliers average term |
Days |
108,11 |
105,44 |
|
Average stock waiting period |
Days |
74,09 |
104,97 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,40 |
1,06 |
|
Rate of stock return |
Units |
4,86 |
3,34 |
|
Labour cost incidence |
% |
16,67 |
17,18 |
|
Net financial revenues/charges incidence |
% |
-1,12 |
-1,41 |
|
Labour cost on purchasing expenses |
% |
17,33 |
15,65 |
|
Short-term financing charges |
% |
3,64 |
3,27 |
|
Capital on hand |
% |
41,62 |
94,39 |
|
Sales pro employee |
Value |
269.604 |
210.204 |
|
Labour cost pro employee |
Value |
44.942 |
35.370 |
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 |
: |
322.150 |
|
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 157 significant companies.
The companies cash their credits on an average of 91 dd.
The average duration of suppliers debts is about 105 dd.
The sector's profitability is on an average of 5,02%.
The labour cost affects the turnover in the measure of 17,18%.
Goods are held in stock in a range of 105 dd.
The difference between the sales volume and the resources used to realize it is about 1,06.
The employees costs represent the 15,65% of the production costs.
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 1.666.
The insolvency index for the region is 0,55, , while for the province it is 0,52.
Total Bankrupt companies in the province : 940.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.53 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.83.84 |
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.