|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAZZOLENI PRODOTTI ZOOTECNICI S.P.A. |
|
|
|
|
Registered Office : |
Via Dell'artigianato, 77/81 24055 - Cologno Al Serio (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Date of Incorporation : |
15.06.2002 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Wholesale of seeds and animal feeds, officinal herbs, oil seeds, seed potatoes |
|
|
|
|
No. of Employees |
From 26 to 35 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 |
MAZZOLENI PRODOTTI ZOOTECNICI S.P.A.
Via Dell'artigianato, 77/81 24055 - Cologno Al Serio (BG)
|
Fiscal Code |
: |
02918700168 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
15/06/2002 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
Wholesale of seeds and animal feeds, officinal herbs, oil seeds, see d potatoes
Legal Form : Joint stock company
|
Fiscal Code : 02918700168 |
|
Foreign Trade Reg. no. : BG059494 since 21/03/2003 |
|
Chamber of Commerce no. : 333778 of Bergamo since 28/12/2001 |
|
Chamber of Commerce no. : 181799 of Cremona |
|
Firms' Register : BG-2001-67288 of Bergamo since 28/12/2001 |
|
V.A.T. Code : 02918700168 |
|
Establishment date |
: 05/12/2001 |
|
|
Start of Activities |
: 15/06/2002 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 500.000 |
|
|
Subscribed Capital |
: 500.000 |
|
|
Paid up Capital |
: 500.000 |
|
Mazzoleni |
Efrem |
|
Born in Zogno |
(BG) |
on 16/04/1960 |
- Fiscal Code : MZZFRM60D16M184C |
|
Residence: |
Papa Giovanni Xxiii |
, 34 |
- 24052 |
Azzano San Paolo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
23/04/2013 |
|
Mazzoleni |
Efrem |
|
Born in Zogno |
(BG) |
on 16/04/1960 |
- Fiscal Code : MZZFRM60D16M184C |
|
Residence: |
Papa Giovanni Xxiii |
, 34 |
- 24052 |
Azzano San Paolo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
23/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
MAZZOLENI EFREM |
|
Born |
on 16/04/1960 |
- Fiscal Code : MZZFRM60D16M184C |
|
: |
Giovanni XXIII |
, 34 |
- 24052 |
Azzano San Paolo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Vezzoli |
Gianstefano |
|
Born in Bergamo |
(BG) |
on 18/02/1959 |
- Fiscal Code : VZZGST59B18A794Q |
|
Residence: |
Molino Del Bosco |
, 17 |
- 24050 |
Zanica |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
18/06/2013 |
|
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.
|
Mazzoleni |
Efrem |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Mazzoleni Efrem |
Zanica (BG) - IT - |
MZZFRM60D16M184C |
Proprietor |
Withdrawn |
Ceased |
|
Mazzoleni |
Efrem |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Mazzoleni Efrem |
Zanica (BG) - IT - |
MZZFRM60D16M184C |
Proprietor |
- |
Ceased |
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 |
|
MAZZOLENI EFREM |
Azzano San Paolo - IT - |
MZZFRM60D16M184C |
475.000 .Eur |
95,00 |
|
MAFFEIS INES |
Azzano San Paolo - IT - |
MFFNSI54E50D606E |
25.000 .Eur |
5,00 |
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 |
|
Dell'artigianato |
, 77/81 |
- 24055 |
- Cologno Al Serio |
(BG) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 15/07/2008 |
|
Crema |
, SNC |
- 24050 |
- Zanica |
(BG) |
- IT - |
|
- |
Branch |
since 12/06/2012 |
|
Delle Industrie |
, 37/39 |
- 26020 |
- Cappella Cantone |
(CR) |
- IT - |
|
Employees |
: 35 |
|
Fittings and Equipment for a value of 3.200.000 |
Eur |
|
Stocks for a value of 3.180.000 |
Eur |
The firm has a direct commercial organization
Sales area on a regional scale.
Transports are mainly done using own vehicles and third parties ones
The company sales mainly to retailers.
Purchase terms: 60-90-120 days.
Subject company generally settles its engagements by issueing of
cheques and cash orders.
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.
None reported, standing to the latest received edition of the Official Publications.
Company's starting of activities dates back to 2002.
The analysis is based on the latest 3 balance sheets.
During the last years, it achieved profits (r.o.e. 12,15% on 2013) with a stable trend in the turnover.
The return on Investment in the last financial year was positive (5,85%) and reflects the field's average.
The amount of the operating result is equal to Eur. 1.172.097 , on more or less the same values as in the year before.
The gross operating margin of the latest financial year is of Eur. 1.723.400 showing an upward trend if compared to 2012.
The analysis shows a fair financial position as the indebtedness volume is acceptable (2,87) with an improving trend as on the decrease.
It's shareholders funds amount to Eur. 3.920.119 , unchanged if compared to 2012.
During the last financial year total debts volume reached Eur. 15.485.743 (Eur. 4.194.615 were m/l term ones) on the same levels as the year before.
Bank borrowings' volume is slightly high but it modestly dips into suppliers credit, 58,01 gg. is the payments' average time below field's average.
The management determines a good range of liquidity.
Credits are collected in 89,8 days on the average. , on the same levels as the sector's average.
The financial management generated a cash flow of Eur. 1.027.626.
In the last financial year labour cost was of Eur. 1.792.930, with a 5,25% incidence on total costs of production. and a 5,12% incidence on sales volumes.
If compared to the sales volume (-0,99%), the impact of the financial charges is limited.
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
35.046.436 |
|
Profit (Loss) for the period |
476.323 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
33.317.622 |
|
Profit (Loss) for the period |
451.802 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
31.615.153 |
|
Profit (Loss) for the period |
604.426 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.586.880 |
|
Profit (Loss) for the period |
538.881 |
From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,31 |
0,31 |
0,20 |
0,11 |
|
Elasticity Ratio |
Units |
0,68 |
0,68 |
0,79 |
0,87 |
|
Availability of stock |
Units |
0,16 |
0,16 |
0,15 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,53 |
0,52 |
0,64 |
0,61 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,01 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,87 |
3,57 |
3,89 |
3,90 |
|
Self Financing Ratio |
Units |
0,20 |
0,16 |
0,18 |
0,17 |
|
Capital protection Ratio |
Units |
0,75 |
0,72 |
0,63 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,40 |
0,42 |
0,17 |
0,09 |
|
Financing |
Units |
3,95 |
5,02 |
4,52 |
4,57 |
|
Permanent Indebtedness Ratio |
Units |
0,42 |
0,41 |
0,29 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,23 |
0,25 |
0,11 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
2,51 |
3,01 |
1,93 |
0,96 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,37 |
1,31 |
1,45 |
2,10 |
|
Current ratio |
Units |
1,21 |
1,17 |
1,14 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
0,89 |
0,93 |
0,86 |
|
Structure's primary quotient |
Units |
0,64 |
0,52 |
0,87 |
1,34 |
|
Treasury's primary quotient |
Units |
0,00 |
0,01 |
0,02 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
511,41 |
617,71 |
569,83 |
587,66 |
|
Current Capital ( net ) |
Value |
2.421.939 |
2.054.375 |
1.620.858 |
135.886 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,93 |
2,35 |
2,25 |
1,61 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
12,15 |
13,12 |
20,20 |
5,01 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
20,83 |
21,57 |
33,28 |
13,67 |
|
Return on Investment ( R.O.I. ) |
% |
5,85 |
4,75 |
7,05 |
4,30 |
|
Return/ Sales |
% |
3,34 |
3,03 |
3,80 |
2,39 |
|
Extra Management revenues/charges incid. |
% |
40,64 |
44,69 |
50,31 |
27,17 |
|
Cash Flow |
Value |
1.027.626 |
782.888 |
712.606 |
47.597 |
|
Operating Profit |
Value |
1.172.097 |
1.011.051 |
1.201.445 |
71.380 |
|
Gross Operating Margin |
Value |
1.723.400 |
1.342.137 |
1.309.625 |
124.518 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
89,80 |
111,94 |
115,67 |
90,43 |
|
Debts to suppliers average term |
Days |
58,01 |
72,46 |
88,01 |
76,51 |
|
Average stock waiting period |
Days |
32,62 |
36,25 |
28,36 |
37,27 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,75 |
1,57 |
1,85 |
1,64 |
|
Rate of stock return |
Units |
11,04 |
9,93 |
12,69 |
9,56 |
|
Labour cost incidence |
% |
5,12 |
4,63 |
4,24 |
4,81 |
|
Net financial revenues/ charges incidence |
% |
-0,99 |
-0,99 |
-0,63 |
-0,99 |
|
Labour cost on purchasing expenses |
% |
5,25 |
4,76 |
4,40 |
4,83 |
|
Short-term financing charges |
% |
2,34 |
1,96 |
1,51 |
2,90 |
|
Capital on hand |
% |
57,20 |
63,85 |
53,93 |
60,86 |
|
Sales pro employee |
Value |
973.512 |
694.117 |
771.101 |
686.413 |
|
Labour cost pro employee |
Value |
49.803 |
32.168 |
32.708 |
33.271 |
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 |
: |
1.022.428 |
|
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 941 significant companies.
The companies cash their credits on an average of 90 dd.
The average duration of suppliers debts is about 77 dd.
The sector's profitability is on an average of 1,61%.
The labour cost affects the turnover in the measure of 4,81%.
Goods are held in stock in a range of 37 dd.
The difference between the sales volume and the resources used to realize it is about 1,64.
The employees costs represent the 4,83% of the production costs.
Statistcally 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 4.150.
The insolvency index for the region is 0,55, , while for the province it is 0,41.
Total Bankrupt companies in the province : 4.376.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.