|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAVELPESCA DEI F.LLI GIOIOSO S.R.L. |
|
|
|
|
Registered Office : |
Contrada S.angelo, SN Savelletri 72015 - Fasano (BR) |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.07.1995 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale of food, including fish, crustaceans and molluscs |
|
|
|
|
No. of Employees |
From 36 to 50 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
SAVELPESCA DEI F.LLI GIOIOSO S.R.L.
Contrada S.angelo, SN SAVELLETRI
72015 - Fasano (BR) -IT-
|
Fiscal Code |
: |
01662880747 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
14/07/1995 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
18.000.000/20.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
Wholesale of other food, including fish, crustaceans and molluscs
Legal Form : Limited liability company
|
Fiscal Code : 01662880747 |
|
Foreign Trade Reg. no. : 003473 of Brindisi since 07/05/1996 |
|
Chamber of Commerce no. : 73243 of Brindisi since 19/04/1995 |
|
Firms' Register : BR001-8020 of Brindisi since 19/02/1996 |
|
V.A.T. Code : 01662880747 |
|
Establishment date |
: 11/02/1995 |
|
|
Start of Activities |
: 14/07/1995 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 450.000 |
|
|
Subscribed Capital |
: 450.000 |
|
|
Paid up Capital |
: 450.000 |
|
OFFICE ADDRESS
Piazza Costantinopoli C N, Italy
|
Gioioso |
Giammichele |
|
|
Born in Fasano |
(BR) |
on 18/11/1955 |
- Fiscal Code : GSIGMC55S18D508H |
|
|
Residence: |
|
Orazio Flacco |
, N.C. |
- 72015 |
Fasano |
(BR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
Prejudicial events registered |
- 16/01/2013.
|
AMMINISTRAZIONE FINANZE DELLO STATO |
- 29/03/2011.
|
AMMINISTRAZIONE FINANZE DELLO STATO |
|
No Protests registered |
|
Gioioso |
Sebastiano |
|
|
Born in Fasano |
(BR) |
on 21/11/1971 |
- Fiscal Code : GSISST71S21D508M |
|
|
Residence: |
|
Spalato |
, 15 |
- 72015 |
Fasano |
(BR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
18/11/2013 |
|
|
|
No Prejudicial events are reported |
|
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.
|
Gioioso |
Sebastiano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
La Casa Del Pesce Dei F.lli Gioioso Giammichele, Sebastiano E C. S.n.c. |
Fasano (BR) - IT - |
01976320745 |
Partner |
Active |
Registered |
|
La Nuova Savelpesca S.r.l. |
Fasano (BR) - IT - |
02167140744 |
Sole 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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Gioioso Giammichele |
Fasano - IT - |
GSIGMC55S18D508H |
225.000 .Eur |
50,00 |
|
Gioioso Sebastiano |
Fasano - IT - |
GSISST71S21D508M |
225.000 .Eur |
50,00 |
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 |
|
|
|
|
|
|
|
S.angelo |
, SN |
- 72015 |
- Fasano |
(BR) |
- IT - |
|
|
|
|
Employees |
: 45 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of 720.000 |
Eur |
|
Stocks for a value of 520.000 |
Eur |
The firm has a direct commercial organization
Sales are on local and provincial scale
Transports are mainly done using own vehicles and third parties ones
The company sells mainly to wholesalers.
|
|
Most accepted terms of sale are within 30 days.
The financial means mainly used for sales are drafts and bank
transfers.
Mainly quoted purcahse terms: 30/60 days.
Subject mostly pays its suppliers by issueing of drafts and/or by
by bank transfers.
|
- Barufet di Barcellona |
|
- Luis Molina di Madrid |
|
- Gio' Mare di Rimini |
EX-MEMBERS / EX-POSITIONS:
|
Gioioso |
Giammichele |
|
|
Born in Fasano |
(BR) |
on 18/11/1955 |
- Fiscal Code : GSIGMC55S18D508H |
|
|
Residence: |
|
Orazio Flacco |
, N.C. |
- 72015 |
Fasano |
(BR) |
- IT - |
|
Ex-Postions |
|
Sole Director |
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.
Company's starting of activities dates back to 1995.
The economic-financial analysis has been made on the base of the b/s of the latests three years.
During the last years, it achieved profits (r.o.e. 15,8% on 2012) with a good increase in turnover (+22,25% in 2012 compared to 2011 and +57,06% in 2011 compared to 2010).
The operating result in 2012 was positive (10,63%) and in line with the sector's average.
The operating result is positive and amounts to Eur. 997.996 with an increase of more then 100% if the compared to the previous financial year.
During the latest financial year the gross operating margin amounted to Eur. 1.218.724 with a more then 100% growth.
Company's financial status is balanced since indebtedness is not high (2,08) yet on the increase as against the previous accounting period.
With regard to equity capital, an amount of Eur. 1.624.135 is registered. , unchanged as opposed to the preceding year.
During the last financial year debts totalled Eur. 6.822.835 (Eur. 3.048.406 of which were m/l term debts) , with no sensible variation.
Bank borrowings' volume is slightly high but it modestly dips into suppliers credit, 59,22 gg. is the payments' average time below field's average.
The management determines a good range of liquidity.
Due from customers average term is high and equal to 97,52 days. within the standard level of the average of the sector.
During financial year 2012 the cash flow amounted to Eur. 477.380
During 2012 financial year labour costs amounted to Eur. 797.470, with a 4,47% incidence on production costs. , whereas the incidence on sales revenues is of 4,26%.
The incidence of the financial charges is of -0,87% on the sales amount.
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.712.772 |
|
Profit (Loss) for the period |
256.652 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.306.279 |
|
Profit (Loss) for the period |
54.288 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.745.143 |
|
Profit (Loss) for the period |
150.980 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,31 |
0,30 |
0,32 |
0,13 |
|
Elasticity Ratio |
Units |
0,64 |
0,70 |
0,68 |
0,85 |
|
Availability of stock |
Units |
0,06 |
0,08 |
0,06 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,63 |
0,63 |
0,62 |
|
Quick Ratio |
Units |
0,04 |
0,11 |
0,06 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,08 |
1,74 |
1,24 |
5,02 |
|
Self Financing Ratio |
Units |
0,17 |
0,17 |
0,26 |
0,13 |
|
Capital protection Ratio |
Units |
0,56 |
0,95 |
0,89 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,85 |
0,90 |
0,95 |
0,10 |
|
Financing |
Units |
4,20 |
4,45 |
2,82 |
6,17 |
|
Permanent Indebtedness Ratio |
Units |
0,51 |
0,52 |
0,62 |
0,25 |
|
M/L term Debts Ratio |
Units |
0,34 |
0,36 |
0,36 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
1,94 |
1,77 |
1,28 |
1,16 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,67 |
1,77 |
1,95 |
1,57 |
|
Current ratio |
Units |
1,60 |
1,79 |
1,78 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,46 |
1,59 |
1,64 |
0,85 |
|
Structure's primary quotient |
Units |
0,56 |
0,56 |
0,81 |
0,96 |
|
Treasury's primary quotient |
Units |
0,10 |
0,27 |
0,16 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
577,92 |
603,22 |
389,39 |
743,68 |
|
Current Capital ( net ) |
Value |
2.255.645 |
3.067.609 |
1.852.446 |
70.465 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
2,55 |
1,13 |
2,43 |
1,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,80 |
3,31 |
9,51 |
6,68 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
33,79 |
7,17 |
13,71 |
19,39 |
|
Return on Investment ( R.O.I. ) |
% |
10,63 |
4,29 |
5,23 |
3,84 |
|
Return/ Sales |
% |
5,33 |
2,78 |
3,32 |
2,16 |
|
Extra Management revenues/charges incid. |
% |
25,72 |
12,77 |
46,69 |
28,56 |
|
Cash Flow |
Value |
477.380 |
172.864 |
236.331 |
48.046 |
|
Operating Profit |
Value |
997.996 |
425.024 |
323.400 |
59.910 |
|
Gross Operating Margin |
Value |
1.218.724 |
543.600 |
408.751 |
99.701 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
97,52 |
112,15 |
116,40 |
86,56 |
|
Debts to suppliers average term |
Days |
59,22 |
80,08 |
79,05 |
100,32 |
|
Average stock waiting period |
Days |
10,07 |
18,14 |
12,57 |
31,97 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,99 |
1,55 |
1,58 |
1,82 |
|
Rate of stock return |
Units |
35,75 |
19,85 |
28,64 |
11,18 |
|
Labour cost incidence |
% |
4,26 |
5,43 |
6,22 |
5,95 |
|
Net financial revenues/ charges incidence |
% |
-0,87 |
-0,85 |
-0,58 |
-0,81 |
|
Labour cost on purchasing expenses |
% |
4,47 |
5,55 |
6,35 |
5,95 |
|
Short-term financing charges |
% |
2,49 |
1,86 |
1,35 |
2,18 |
|
Capital on hand |
% |
50,16 |
64,68 |
63,41 |
54,67 |
|
Sales pro employee |
Value |
779.698 |
612.251 |
541.396 |
507.074 |
|
Labour cost pro employee |
Value |
33.227 |
33.267 |
33.674 |
32.650 |
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 |
: |
401.217 |
|
Population living in the region |
: |
4.068.167 |
|
Number of families in the region |
: |
1.407.246 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
476 |
|
- per non food products |
: |
1.433 |
|
- per energy consume |
: |
85 |
The values are calculated on a base of 5.101 significant companies.
The companies cash their credits on an average of 87 dd.
The average duration of suppliers debts is about 100 dd.
The sector's profitability is on an average of 1,66%.
The labour cost affects the turnover in the measure of 5,95%.
Goods are held in stock in a range of 32 dd.
The difference between the sales volume and the resources used to realize it is about 1,82.
The employees costs represent the 5,95% of the production costs.
Statistically the trade activity passes through serious crises.
The area is statistically considered remarkably risky.
In the region 41.341 protested subjects are found; in the province they count to 3.959.
The insolvency index for the region is 1,02, , while for the province it is 0,99.
Total Bankrupt companies in the province : 1.005.
Total Bankrupt companies in the region : 15.496.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.