MIRA
INFORM REPORT
|
Report Date : |
08.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CGM S.R.L. |
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Registered Office : |
Via Dell'industria, 19, 28924 – Verbania
(VB) |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.12.2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in production of machines for the processing of
pre-insulated panel |
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No of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
|
Source : CIA |
Company name & address
|
Cgm S.r.l. |
|
Via |
Dell'industria, |
19 |
|
28924 |
- Verbania |
(VB) |
-IT- |
Summary
|
Fiscal Code |
: |
01793780030 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
02/01/2001 |
|
Equity |
: |
100.000 |
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Turnover Range |
: |
1.000.000/1.250.000 |
|
Number of Employees |
: |
05 |
Highlights
|
Subject's products are exported throughout
the world : European countries |
|
Middle East, USA |
|
Among subject's distributors we mention
LBS Trading located in DUBAI (UAE). |
Activity
Engaged in production of machines for the processing of pre-insulated panel
Legal Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 63641 |
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Fiscal Code : 01793780030 |
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Chamber of Commerce no. : 188197 of
Verbania since 04/01/2001 |
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V.A.T. Code : 01793780030 |
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Establishment date |
: 14/12/2000 |
|
|
Start of Activities |
: 02/01/2001 |
|
|
Legal duration |
: 31/12/2050 |
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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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Members
|
|
Cristuib Grizzi |
Marco |
%2008-Jul-2014_files/image001.gif){kind=small}
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Born in Premosello-Chiovenda |
(NO) |
on 29/06/1958 |
- Fiscal Code : CRSMRC58H29H037P |
%2008-Jul-2014_files/image002.gif){kind=small}
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Residence: |
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Francesco Gatti |
, 1 |
- 28877 |
Ornavasso |
(VB) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Board Chairman |
14/12/2000 |
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Managing Director |
14/12/2000 |
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No Prejudicial
events are reported |
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No Protests
registered |
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Cecchetto |
Emanuela |
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|
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Born in Verbania |
(NO) |
on 24/08/1964 |
- Fiscal Code : CCCMNL64M64L746Y |
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|
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Residence: |
|
Francesco Gatti |
, 1 |
- 28877 |
Ornavasso |
(VB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/12/2000 |
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Partner |
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No Prejudicial
events are reported |
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No Protests
registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which members
hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Cristuib Grizzi Marco |
Ornavasso - IT - |
CRSMRC58H29H037P |
7.000 .Eur |
70,00 |
|
Cecchetto Emanuela |
Ornavasso - IT - |
CCCMNL64M64L746Y |
3.000 .Eur |
30,00 |
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 |
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Dell'industria |
, 19 |
- 28050 |
- Verbania |
(VB) |
- IT - |
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PHONE |
: 0323586778 |
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FAX |
: 0323586778 |
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Employees |
: 5 |
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Assistants |
: 2 |
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Stocks for a value of 69.000 |
Eur |
Sales are on international scale
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The firm operates abroad as importer / exporter..
Export trade is the 30 % of the global
turnover.
Import comes generally from the following
nations:
|
- Germany |
Export is mainly towards:
|
- Emirati Arabi |
|
- Europa |
|
- Stati Uniti |
The subject firm uses the following own selling
brands:
|
- ECO Silent |
|
- Bend 12 |
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- Bend 20 |
|
- TD4 |
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 |
|
VENETO BANCA HOLDING S.C.P.A. |
|
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|
5035 |
0 |
Financial and Economical Analysis
Subject is active since 2001
The economic-financial analysis has been
made on the base of the b/s of the latest three years.
During the last years, it achieved profits
(r.o.e. 86,88% on 2013)
The return on Investment in the last
financial year was positive (21,82%) and is higher than the sector's average.
The operating result is positive and amounts
to Eur. 89.300 , on more or less the same values as in the year before.
The G.O.M. amounted to Eur. 100.757 stable
if compared to the financial year 2012.
The financial status of the company is
fairly balanced with an indebtedness level of 2,09 with an improving trend as
on the decrease.
The management generated equity capital for
an amount of Eur. 94.045 , unchanged if compared to 2012.
Total debts (both short and M/L term) equals
Eur. 257.837, whereas in the year before they amounted to Eur. 458.672, with a
-43,78% drop.
The company does not exceed in bank
borrowings; the recourse to suppliers' credit is also limited which is also
lower than the sector average.
The management determines a good range of
liquidity.
Credits are collected in 58,83 days on the
average. , a value lower than the sector's average.
During financial year 2013 the cash flow
amounted to Eur. 93.166
During 2013 financial year labour costs amounted
to Eur. 163.720, with a 18,21% incidence on production costs. and a 15,68%
incidence on sales volumes.
Financial Data
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Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
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Sales |
1.044.113 |
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Profit (Loss) for the period |
81.709 |
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Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
1.270.430 |
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Profit (Loss) for the period |
70.715 |
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Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
772.406 |
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Profit (Loss) for the period |
54.527 |
|
|
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Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
944.506 |
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Profit (Loss) for the period |
97.518 |
Balance Sheets
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 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet
as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet
as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value
Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
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COMPOSITION ON
INVESTMENT |
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|
|
|
|
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Rigidity Ratio |
Units |
0,10 |
0,07 |
0,03 |
0,17 |
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Elasticity Ratio |
Units |
0,78 |
0,83 |
0,83 |
0,80 |
|
Availability of stock |
Units |
0,17 |
0,25 |
0,50 |
0,27 |
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Total Liquidity Ratio |
Units |
0,61 |
0,58 |
0,34 |
0,50 |
|
Quick Ratio |
Units |
0,15 |
0,34 |
0,00 |
0,03 |
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COMPOSITION ON
SOURCE |
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|
|
|
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Net Short-term indebtedness |
Units |
2,09 |
3,08 |
5,24 |
3,14 |
|
Self Financing Ratio |
Units |
0,23 |
0,14 |
0,15 |
0,19 |
|
Capital protection Ratio |
Units |
0,02 |
0,03 |
0,03 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,07 |
0,08 |
0,18 |
|
Financing |
Units |
2,74 |
5,52 |
5,24 |
3,79 |
|
Permanent Indebtedness Ratio |
Units |
0,32 |
0,19 |
0,21 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,09 |
0,06 |
0,06 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
n.c. |
0,77 |
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CORRELATION |
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|
|
|
|
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Fixed assets ratio |
Units |
3,36 |
2,68 |
6,10 |
1,75 |
|
Current ratio |
Units |
1,24 |
1,08 |
1,06 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,97 |
0,76 |
0,43 |
0,78 |
|
Structure's primary quotient |
Units |
2,40 |
1,92 |
4,32 |
1,04 |
|
Treasury's primary quotient |
Units |
0,24 |
0,44 |
0,00 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
435,17 |
716,85 |
665,97 |
518,96 |
|
Current Capital ( net ) |
Value |
60.807 |
37.828 |
20.960 |
406.983 |
|
RETURN |
|
|
|
|
|
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Return on Sales |
% |
8,92 |
6,53 |
8,86 |
3,69 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
86,88 |
85,15 |
81,55 |
5,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
94,95 |
95,16 |
91,51 |
17,72 |
|
Return on Investment ( R.O.I. ) |
% |
21,82 |
13,40 |
14,21 |
3,94 |
|
Return/ Sales |
% |
8,55 |
6,28 |
8,19 |
4,48 |
|
Extra Management revenues/charges incid. |
% |
91,50 |
88,67 |
86,20 |
26,52 |
|
Cash Flow |
Value |
93.166 |
82.998 |
68.437 |
142.024 |
|
Operating Profit |
Value |
89.300 |
79.750 |
63.257 |
126.602 |
|
Gross Operating Margin |
Value |
100.757 |
92.033 |
77.167 |
241.461 |
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MANAGEMENT |
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|
|
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Credits to clients average term |
Days |
58,83 |
n.c. |
n.c. |
116,01 |
|
Debts to suppliers average term |
Days |
78,49 |
n.c. |
n.c. |
127,79 |
|
Average stock waiting period |
Days |
23,92 |
42,26 |
103,27 |
96,89 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,55 |
2,13 |
1,73 |
1,03 |
|
Rate of stock return |
Units |
15,05 |
8,52 |
3,49 |
3,58 |
|
Labour cost incidence |
% |
15,68 |
12,95 |
15,83 |
21,20 |
|
Net financial revenues/ charges incidence |
% |
0,00 |
-0,05 |
-0,27 |
-1,00 |
|
Labour cost on purchasing expenses |
% |
18,21 |
14,28 |
14,97 |
20,95 |
|
Short-term financing charges |
% |
0,04 |
0,18 |
0,83 |
2,70 |
|
Capital on hand |
% |
39,20 |
46,86 |
57,65 |
96,90 |
|
Sales pro employee |
Value |
208.822 |
254.086 |
257.468 |
191.520 |
|
Labour cost pro employee |
Value |
32.744 |
32.913 |
40.764 |
39.641 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
%2008-Jul-2014_files/image003.gif){kind=small}
161.575Monthly family expenses 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 45
significant companies.
The companies cash their credits on an
average of 116 dd.
The average duration of suppliers debts is
about 128 dd.
The sector's profitability is on an average
of 3,69%.
The labour cost affects the turnover in the
measure of 21,20%.
Goods are held in stock in a range of 97 dd.
The difference between the sales volume and
the resources used to realize it is about 1,03.
The employees costs represent the 20,95% 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 27.019 protested subjects are
found; in the province they count to 1.296.
The insolvency index for the region is 0,63,
, while for the province it is 0,81.
Total Bankrupt companies in the province :
428.
Total Bankrupt companies in the region :
14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
UK Pound |
1 |
Rs.102.78 |
|
Euro |
1 |
Rs.81.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.