MIRA
INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ITALMATIC -
SOCIETA' A RESPONSABILITA' L IMITATA |
|
|
|
|
Registered Office : |
Via Gaetano Donizetti, 0003, 20122 – Milano (MI) |
|
|
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Country : |
|
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|
|
|
Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
18.02.1966 |
|
|
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|
Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
· Manufacturer of metal forming machinery and tool machines Manufacturer
of other special-purpose machinery (including spare parts and accessories) |
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|
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No of Employees : |
48 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 higher. 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 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
|
Source : CIA |
Company name & address
Italmatic - Societa' A Responsabilita' L Imitata
Via Gaetano Donizetti, 0003
20122 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
00737540153 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
18/02/1966 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
|
48 |
Activity
· Manufacturer of metal forming machinery and tool machines
Manufacturer
of other special-purpose machinery n.e.c. (including spare parts and
accessories)
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 00737540153 |
|
Foreign Trade Reg. no. : MI102661 since
16/01/1992 |
|
Chamber of Commerce no. : 92161 of Lucca |
|
Chamber of Commerce no. : 707527 of Milano
since 01/03/1966 |
|
Firms' Register : MI146-12980 of Milano
since 19/02/1996 |
|
V.A.T. Code : 00737540153 |
|
Foundation date |
: 18/02/1966 |
|
|
Establishment date |
: 18/02/1966 |
|
|
Start of Activities |
: 18/02/1966 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 46.480 |
|
|
Subscribed Capital |
: 46.480 |
|
|
Paid up Capital |
: 46.480 |
|
Members
|
|
Ghitturi |
Aldo |
|
|
|
Born in Milano |
(MI) |
on 25/01/1938 |
- Fiscal Code : GHTLDA38A25F205E |
|
|
|
Residence: |
|
Felice Casati |
, 44 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
11/01/1991 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Ghitturi |
Massimo |
|
|
|
Born in Milano |
(MI) |
on 18/11/1967 |
- Fiscal Code : GHTMSM67S18F205T |
|
|
|
Residence: |
|
Vittor Pisani |
, 13 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
11/01/1991 |
|
|
|
Managing Director |
15/12/2003 |
|
|
|
|
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.
|
|
Ghitturi |
Aldo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Italmatic Presse E Stampi Srl |
Milano (MI) - IT - |
09309270156 |
Managing
Director |
Active |
Registered |
|
Italmatic Presse E Stampi Srl |
Milano (MI) - IT - |
09309270156 |
Director |
Active |
Registered |
|
Immobiliare La Gregoria - Societa' A Responsabilita'
Limitata |
Milano (MI) - IT - |
03163940152 |
Sole Director |
Active |
Registered |
|
Mamo S.r.l. |
Milano (MI) - IT - |
05857340151 |
Sole Director |
Active |
Registered |
|
Marpital Sas Di Ugo Palmeri E C. |
Peschiera Borromeo (MI) - IT - |
09402770151 |
Limited Partner |
Active |
Registered |
|
|
Ghitturi |
Massimo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Italmatic Presse E Stampi Srl |
Milano (MI) - IT - |
09309270156 |
Managing
Director |
Active |
Registered |
|
Italmatic Presse E Stampi Srl |
Milano (MI) - IT - |
09309270156 |
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.
Capital Shareholders
Shareholders' list
as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Ghitturi Aldo |
Milano - IT - |
GHTLDA38A25F205E |
4.648 .Eur |
10,00 |
|
Ghitturi Massimo |
Milano - IT - |
GHTMSM67S18F205T |
41.832 .Eur |
90,00 |
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 |
|
Soc.Italiana Contrappesi per Equilibratu
re Ruote S.r.l. |
Montecorvino Rovella - IT - |
01838510657 |
11.100 .Eur |
9,99 |
|
|
Active |
|
Italimpex S.R.L. |
Gorizia - IT - |
00501710313 |
5.100 .Eur |
50,00 |
|
|
Active |
|
Italmatic Presse E Stampi Srl |
Milano - IT - |
09309270156 |
37.184 .Eur |
80,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Gaetano Donizetti |
, 0003 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
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|
Total Surface: 40 Sq.mt. |
|
|
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|
PHONE |
: 0295300545 |
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|
|
|
FAX |
: 0295300199 |
|
- |
Branch |
(Factory) |
since 01/04/1966 |
|
|
|
|
|
|
Villa Pompea |
, 0031 |
- 20060 |
- Cassina De' Pecchi |
(MI) |
- IT - |
|
|
|
|
Total Surface: 40 Sq.mt. |
|
|
|
|
PHONE |
: 0295300545 |
|
- |
Branch |
|
since 12/05/2010 |
|
|
|
|
|
|
Dell'artigianato |
, 8/A |
- 20060 |
- Cassina De' Pecchi |
(MI) |
- IT - |
|
|
|
|
Employees |
: 48 |
|
Fittings and Equipment for a value of
650.000 |
Eur |
|
Stocks for a value of 1.550.000 |
Eur |
|
|
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- its own agents |
Export represents more than 50% of the
global turnover.
Products abroad are placed by :
|
- its own agents |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Ghitturi |
Aldo |
|
|
|
Born in Milano |
(MI) |
on 25/01/1938 |
- Fiscal Code : GHTLDA38A25F205E |
|
|
|
Residence: |
|
Felice Casati |
, 44 |
- 20124 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Napolitano |
Vincenzo |
|
|
|
Born in San Severo |
(FG) |
on 09/11/1924 |
- Fiscal Code : NPLVCN24S09I158W |
|
|
|
Residence: |
|
Dei Gigli |
, 1 |
- 20065 |
Inzago |
(MI) |
- 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
Company's starting of activities dates back
to 1966.
The analysis is based on the latest 3
balance sheets.
Under an economic point of view, profits
were registered during the last years with a r.o.e. of 14,04% in 2012 with a
stable trend in the turnover.
The return on Investment in the last
financial year was positive (7,25%) and reflects the field's average.
An operating result of Eur. 472.604 has been
registered. with a -31,18% drop.
The G.O.M. amounted to Eur. 789.164 stable
if compared to the financial year 2011.
Company's financial status is balanced since
indebtedness is not high (1,28) and decreasing as against 2011.
Subject can manage an equity capital funds
for an amount of Eur. 2.501.763 , unchanged if compared to 2011.
Total indebtedness totalled Eur. 3.384.418,
, with no sensible variation.
Moderate recourse to bank credit while the
exposure towards suppliers is rather high anyway better than the field's
average.
Liquidity is good (1,53)
As far as the collection of credit goes, the
average is high (97,49 days). within the average values of the sector.
Eur. 667.920 is the value of cash flow
during the year 2012
Labour cost amounts to Eur. 2.356.914, with
a 19,08% incidence on production costs. , whereas the incidence on sales
revenues is of 19,77%.
Limited financial charges in relation to
sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.924.441 |
|
Profit (Loss) for the period |
351.360 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.002.591 |
|
Profit (Loss) for the period |
407.048 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.621.683 |
|
Profit (Loss) for the period |
537.210 |
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 |
0,19 |
0,20 |
0,19 |
0,18 |
|
Elasticity Ratio |
Units |
0,79 |
0,77 |
0,77 |
0,80 |
|
Availability of stock |
Units |
0,24 |
0,18 |
0,17 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,56 |
0,58 |
0,61 |
0,48 |
|
Quick Ratio |
Units |
0,03 |
0,09 |
0,14 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,28 |
1,33 |
1,22 |
3,25 |
|
Self Financing Ratio |
Units |
0,38 |
0,35 |
0,35 |
0,19 |
|
Capital protection Ratio |
Units |
0,84 |
0,81 |
0,73 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,18 |
0,15 |
0,14 |
0,19 |
|
Financing |
Units |
1,35 |
1,57 |
1,64 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,48 |
0,44 |
0,43 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,09 |
0,08 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,06 |
0,00 |
0,63 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,46 |
2,21 |
2,23 |
1,75 |
|
Current ratio |
Units |
1,53 |
1,37 |
1,36 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,07 |
1,05 |
1,07 |
0,81 |
|
Structure's primary quotient |
Units |
1,97 |
1,78 |
1,80 |
1,03 |
|
Treasury's primary quotient |
Units |
0,05 |
0,16 |
0,25 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
260,51 |
282,36 |
288,56 |
516,42 |
|
Current Capital ( net ) |
Value |
1.787.718 |
1.383.756 |
1.274.836 |
422.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
5,60 |
5,67 |
6,55 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
14,04 |
17,32 |
25,06 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
21,90 |
30,47 |
37,74 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
7,25 |
10,35 |
12,90 |
4,16 |
|
Return/ Sales |
% |
3,96 |
5,72 |
6,86 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
74,35 |
59,27 |
67,34 |
28,57 |
|
Cash Flow |
Value |
667.920 |
680.812 |
761.800 |
122.482 |
|
Operating Profit |
Value |
472.604 |
686.761 |
797.732 |
144.752 |
|
Gross Operating Margin |
Value |
789.164 |
960.525 |
1.022.322 |
241.990 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
97,49 |
97,87 |
87,64 |
111,85 |
|
Debts to suppliers average term |
Days |
101,26 |
94,32 |
84,29 |
128,30 |
|
Average stock waiting period |
Days |
46,74 |
36,27 |
31,92 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,83 |
1,81 |
1,88 |
1,08 |
|
Rate of stock return |
Units |
7,70 |
9,93 |
11,28 |
4,45 |
|
Labour cost incidence |
% |
19,77 |
18,01 |
16,78 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-0,03 |
-0,06 |
-0,32 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
19,08 |
18,03 |
17,14 |
19,02 |
|
Short-term financing charges |
% |
0,17 |
0,35 |
1,12 |
2,68 |
|
Capital on hand |
% |
54,66 |
55,29 |
53,22 |
91,91 |
|
Sales pro employee |
Value |
163.348 |
179.143 |
193.694 |
198.432 |
|
Labour cost pro employee |
Value |
32.286 |
32.255 |
32.504 |
35.779 |
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
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 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.
Statistical Detrimental Data
Statistically 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 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
UK Pound |
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.