MIRA INFORM REPORT
|
Report Date : |
06.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SELEA I.R. S.R.L. |
|
|
|
|
Registered Office : |
Viale Industria, 29, 27025 - Gambolo' (PV) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
10.03.1975 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacturer of rubber products |
|
|
|
|
No of Employees : |
from 1 to 5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
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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.
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
|
Selea I.r.
S.r.l. |
|
Viale |
Industria, |
29 |
|
27025 |
- Gambolo' |
(PV) |
-IT- |
Summary
|
Fiscal Code |
: |
00287870182 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
10/03/1975 |
|
Equity |
: |
125.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Manufacture of rubber products
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 00287870182 |
|
Foreign Trade Reg. no. : PV003604 since 09/12/1991 |
|
Foreign Trade Reg. no. : 3604 of Pavia since 09/12/1991 |
|
Chamber of Commerce no. : 107986 of Ascoli Piceno |
|
Chamber of Commerce no. : 107986 of Fermo |
|
Chamber of Commerce no. : 134600 of Pavia since 16/04/1974 |
|
Firms' Register : PV177-2494 of Pavia since 19/02/1996 |
|
V.A.T. Code : 00287870182 |
|
Foundation date |
: 05/03/1974 |
|
|
Establishment date |
: 05/03/1974 |
|
|
Start of Activities |
: 10/03/1975 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 98.800 |
|
|
Subscribed Capital |
: 98.800 |
|
|
Paid up Capital |
: 98.800 |
Members
|
Guallini |
Luisella |
|
Born in Vigevano |
(PV) |
on 18/11/1973 |
- Fiscal Code : GLLLLL73S58L872Y |
|
Residence: |
Bramante |
, 8 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
14/02/2013 |
|
No Prejudicial
events are reported |
|
No Protests
registered |
|
Ranzini |
Silvana |
|
Born in Vigevano |
(PV) |
on 16/05/1942 |
- Fiscal Code : RNZSVN42E56L872L |
|
Residence: |
Bramante |
, 8 |
- 27029 |
Vigevano |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
08/11/2005 |
|
No Prejudicial
events are reported |
|
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 |
|
Guallini Luisella |
Vigevano - IT - |
GLLLLL73S58L872Y |
79.040 .Eur |
80,00 |
|
Ranzini Silvana |
Vigevano - IT - |
RNZSVN42E56L872L |
19.760 .Eur |
20,00 |
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 |
|
PEUGE INDUSTRIA GOMMA S.R.L. |
Vigevano (PV) - IT - |
00447450180 |
32.915 .Eur |
74,98 |
Active |
||
|
Confidi-pavia |
Pavia - IT - |
80015880182 |
250 .Eur |
0,48 |
Ceased |
Firm's
location and structure
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and
operative seat |
since 05/03/1974 |
|
Industria |
, 29 |
- 27025 |
- Gambolo' |
(PV) |
- IT - |
|
Trading Style: SELEA - RUBBER |
|
PHONE |
: 0381938521 |
|
FAX |
: 0381939454 |
|
- |
Branch |
(Warehouse) |
since 12/04/1988 |
|
Campiglione |
, 20 |
- 63023 |
- Fermo |
(FM) |
- IT - |
|
Employees |
: 5 |
|
Fittings and Equipment for a value of
480.000 |
Eur |
|
Stocks for a value of 500.000 |
Eur |
|
Furniture and fittings for a value of
62.000 |
Eur |
|
Vehicles for a value of 130.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- distributors |
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following
nations:
|
- Guatemala GCA |
Export is mainly towards:
|
- Great Britain |
|
- Italy |
|
- Ireland |
|
- Somalia |
|
- Gabon |
Historical
Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Joint stock company |
Limited liability company |
23/12/1988 |
EX-MEMBERS /
EX-POSITIONS:
|
Guallini |
Pier Luigi |
|
Born in Gambolo' |
(PV) |
on 25/12/1932 |
- Fiscal Code : GLLPLG32T25D901N |
|
Fiscal residence: |
Industria |
, 29 |
- 27025 |
Gambolo' |
(PV) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Gaulio |
Valentino |
|
Born in PAVIA |
(PV) |
on 25/01/1961 |
- Fiscal Code : GLAVNT61A25G388D |
|
Residence: |
PIAVE |
, 54 |
- 27020 |
Scaldasole |
(PV) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
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 |
|
INTESA SANPAOLO SPA |
3069 |
0 |
Financial
and Economical Analysis
Company's starting of activities dates back to 1975.
Balance sheets for the years 2010, 2011 and 2012 were analyzed.
Under the financial profile unstable results are noted. with a loss in the last financial year. Business volume is falling in the last financial year.
The operating result is negative.
The amount of the operating loss for 2012 is equal to Eur. -35.420.
The G.O.M. amounted to Eur. 4.560 showing a downward trend as opposed to the previous year.
Financial condition is not balanced as own capitals do not cover debts, indebtedness level is in fact high (17,46) which is rising compared to 2011.
Subject can manage an equity capital funds for an amount of Eur. 118.616 decreasing if compared to the previous financial year.
Eur. 2.148.110 is the amount of total debts, both commercial and of different nature, with a growth equal to 20,4%.
Liquidity range isn't very considerable.
(Eur. -41.623) is the negative value of the cash flow.
During 2012 financial year labour costs amounted to Eur. 332.355, with a 8,89% incidence on production costs. , whereas the incidence of such costs on sales revenues is equal to 8,47%.
The financial management has a limited economic impact, equal to -1,18% on the sales.
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.923.131 |
|
Profit (Loss) for the period |
-81.603 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.745.031 |
|
Profit (Loss) for the period |
14.596 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.439.185 |
|
Profit (Loss) for the period |
20.471 |
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.142.813 |
|
Profit (Loss) for the period |
4.136 |
|
Complete balance-sheet for the year |
al 31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.194.880 |
|
Profit (Loss) for the period |
-34.279 |
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
|
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 |
0,11 |
0,12 |
0,13 |
0,37 |
|
Elasticity Ratio |
Units |
0,89 |
0,88 |
0,87 |
0,61 |
|
Availability of stock |
Units |
0,21 |
0,39 |
0,28 |
0,14 |
|
Total Liquidity Ratio |
Units |
0,67 |
0,49 |
0,59 |
0,40 |
|
Quick Ratio |
Units |
0,03 |
0,02 |
0,03 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
17,46 |
8,64 |
9,36 |
2,25 |
|
Self Financing Ratio |
Units |
0,05 |
0,10 |
0,09 |
0,25 |
|
Capital protection Ratio |
Units |
0,86 |
0,43 |
0,36 |
0,77 |
|
Liabilities consolidation quotient |
Units |
0,03 |
0,03 |
0,04 |
0,25 |
|
Financing |
Units |
18,11 |
8,91 |
9,82 |
2,89 |
|
Permanent Indebtedness Ratio |
Units |
0,08 |
0,12 |
0,12 |
0,49 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,03 |
0,03 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,13 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,66 |
1,01 |
0,95 |
1,12 |
|
Current ratio |
Units |
0,96 |
1,00 |
1,00 |
1,10 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,73 |
0,56 |
0,68 |
0,78 |
|
Structure's primary quotient |
Units |
0,44 |
0,80 |
0,71 |
0,64 |
|
Treasury's primary quotient |
Units |
0,04 |
0,03 |
0,04 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
1973,29 |
1015,74 |
1109,93 |
400,87 |
|
Current Capital ( net ) |
Value |
-75.896 |
6.350 |
-4.999 |
122.005 |
|
RETURN |
|||||
|
Return on Sales |
% |
-1,06 |
1,17 |
1,29 |
3,12 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-68,80 |
7,29 |
11,03 |
1,12 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-60,46 |
20,28 |
22,03 |
7,08 |
|
Return on Investment ( R.O.I. ) |
% |
-1,51 |
4,47 |
3,24 |
3,17 |
|
Return/ Sales |
% |
-0,90 |
1,92 |
1,50 |
3,04 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
16,06 |
30,71 |
18,11 |
|
Cash Flow |
Value |
-41.623 |
55.589 |
57.078 |
177.056 |
|
Operating Profit |
Value |
-35.420 |
90.902 |
66.655 |
81.874 |
|
Gross Operating Margin |
Value |
4.560 |
131.895 |
103.262 |
249.142 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
109,51 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
100,86 |
|
Average stock waiting period |
Days |
46,02 |
59,58 |
46,84 |
49,84 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,68 |
2,33 |
2,15 |
1,05 |
|
Rate of stock return |
Units |
7,82 |
6,04 |
7,69 |
7,21 |
|
Labour cost incidence |
% |
8,47 |
5,38 |
6,30 |
18,93 |
|
Net financial revenues/ charges incidence |
% |
-1,18 |
-1,06 |
-0,58 |
-1,59 |
|
Labour cost on purchasing expenses |
% |
8,89 |
5,27 |
6,44 |
19,09 |
|
Short-term financing charges |
% |
2,16 |
2,82 |
1,42 |
2,93 |
|
Capital on hand |
% |
59,66 |
42,86 |
46,41 |
95,40 |
|
Sales pro employee |
Value |
392.313 |
677.861 |
554.898 |
159.094 |
|
Labour cost pro employee |
Value |
33.235 |
36.483 |
34.936 |
32.607 |
Remarks
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.
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
510.505Monthly 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 99 significant companies.
The companies cash their credits on an average of 110 dd.
The average duration of suppliers debts is about 101 dd.
The sector's profitability is on an average of 3,12%.
The labour cost affects the turnover in the measure of 18,93%.
Goods are held in stock in a range of 50 dd.
The difference between the sales volume and the resources used to realize it is about 1,05.
The employees costs represent the 19,09% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity shows periods of crisis.
The area is statistically considered remarkably risky.
In the region 41.341 protested subjects are found; in the province they count to 9.216.
The insolvency index for the region is 1,02, , while for the province it is 1,15.
Total Bankrupt companies in the province : 2.339.
Total Bankrupt companies in the region : 15.496.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.19 |
|
|
1 |
Rs. 99.51 |
|
Euro |
1 |
Rs. 80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.