|
Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
GRAMELLINI F.LLI - S.P.A. |
|
|
|
|
Registered Office : |
Via Ravegnana, 397/C 47122 - Forli' (FO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.01.1981 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
· Wholesale of food, beverages and tobacco · Wholesale of meat and meat products · Wholesale of cold cuts of pork · Wholesale of frozen, deep-frozen, conserved o dried fished products |
|
|
|
|
No. of Employees : |
From 51 To 70 |
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 |
|
-- |
NB |
New Business |
-- |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
GRAMELLINI F.LLI - S.P.A.
Via Ravegnana, 397/C 47122 - Forli' (FO)
Italy
|
Fiscal Code |
: |
00124640400 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
06/01/1981 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
From 51 To 70 |
Wholesale of food, beverages and tobacco
Wholesale of meat and meat products
Wholesale of cold cuts of pork
Wholesale of frozen, deep-frozen, conserved o dried fished products
Non-specialised wholesale of deep-frozen products
Legal Form : Joint stock company
|
Fiscal Code : 00124640400 |
|
Foreign Trade Reg. no. : FO007093 since 11/02/1992 |
|
Chamber of Commerce no. : 206438 of Caserta |
|
Chamber of Commerce no. : 183999 of Forli' since 31/12/1980 |
|
Firms' Register : FO012-9174 of Forli' since 19/02/1996 |
|
V.A.T. Code : 00124640400 |
|
R. E. C. no. : 31225 of Forli' since 12/05/1981 |
|
Foundation date |
: 03/12/1980 |
|
|
Establishment date |
: 03/12/1980 |
|
|
Start of Activities |
: 06/01/1981 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 5.160.000 |
|
|
Subscribed Capital |
: 5.160.000 |
|
|
Paid up Capital |
: 5.160.000 |
|
Gramellini |
Tiziano |
|
Born in Forli' |
(FO) |
on 23/08/1937 |
- Fiscal Code : GRMTZN37M23D704T |
|
Residence: |
Ravegnana |
, 383 |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
02/03/1993 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Gramellini |
Pietro |
|
Born in Forli' |
(FO) |
on 18/04/1941 |
- Fiscal Code : GRMPTR41D18D704G |
|
Residence: |
Ravegnana |
, 397/B |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/04/2013 |
|
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.
|
Gramellini |
Pietro |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
"FORNITALIA SRL" |
Cesena (RE) - IT - |
01717020356 |
Director |
Withdrawn |
Registered |
|
La Cucina Di Bologna S.r.l. |
San Giovanni in Persiceto (BO) - IT - |
01969201209 |
Director |
Active |
Registered |
|
La Cucina Di Bologna S.r.l. |
San Giovanni in Persiceto (BO) - IT - |
01969201209 |
Assistant board Chairman |
Withdrawn |
Registered |
|
La Cucina Di Bologna S.r.l. |
San Giovanni in Persiceto (BO) - IT - |
01969201209 |
Managing 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 |
|
Gramellini Tiziano |
Forli' - IT - |
GRMTZN37M23D704T |
2.580.000 .Eur |
50,00 |
|
Gramellini Pietro |
Forli' - IT - |
GRMPTR41D18D704G |
2.580.000 .Eur |
50,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Leoni S.p.a. |
Forli' - IT - |
00723950408 |
158.412 .Eur |
31,48 |
Active |
||
|
Novellino Societa' A Responsabilita' Lim itata In Forma Abbreviata Novellino S |
03105870616 |
9.500 .Eur |
95,00 |
Active |
|||
|
Consenergy 2000 |
Ravenna - IT - |
02031120393 |
Active |
In order to carry out its activities the firm uses the following locations:
|
- |
Legal and operative seat |
|
Ravegnana |
, 397/C |
- 47100 |
- Forli' |
(FO) |
- IT - |
|
PHONE |
: 0543720028 |
|
FAX |
: 0543720080 |
|
Legal mail |
: GRAMELLINIFRATELLISPA@PEC.IT |
|
- |
Branch |
(Warehouse) |
since 02/11/1993 |
|
Appia Antica |
- 81020 |
- San Nicola la Strada |
(CE) |
- IT - |
|
PHONE |
: 0823468523 |
|
FAX |
: 0823468519 |
|
Employees |
: 53 |
|
Fittings and Equipment for a value of 1.550.000 |
Eur |
|
Stocks for a value of 11.350.000 |
Eur |
The company sells in Italy and abroad.
The firm operates abroad as importer..
To purchase foreign products the firm uses the following channels :
|
- its own sales net-work |
Products abroad are placed by :
|
- direct orders from foreign companies |
Financial means used for sale: bank transfers and bank orders.
Main used payment modalities are by cash orders and bank transfers.
Import comes generally from the following nations:
|
- TUTTO IL CONTINENTE |
|
- Orogel Spa |
|
- Cesare Fiorucci Spa |
|
- GRAMMARE |
|
- GRAMELLINI |
|
- LA FATTORIA DELLE BONTA' |
EX-MEMBERS / EX-POSITIONS:
|
Gramellini |
Tiziano |
|
Born in Forli' |
(FO) |
on 23/08/1937 |
- Fiscal Code : GRMTZN37M23D704T |
|
Residence: |
Ravegnana |
, 383 |
- 47100 |
Forli' |
(FO) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Grillanda Carla |
|
Born in Forli' |
(FO) |
on 16/02/1942 |
- Fiscal Code : GRLCRL42B56D704N |
|
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.
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
CASSA DEI RISPARMI DI FORLI E DELLA R |
6010 |
0 |
||||
|
INTESA SANPAOLO SPA |
3069 |
0 |
||||
|
UNICREDIT BANCA SPA |
2008 |
0 |
||||
|
B.CA NAZIONALE DEL LAVORO SPA |
1005 |
0 |
Company's starting of activities dates back to 1981.
An eco-fin analysis has been made on the base od the b/s fo the years 2010, 2011 and 2012.
Under the financial profile unstable results are noted. ; in the last financial year a loss was registered (r.o.e. -2,3%) In the last financial year a drop in sales has been registered (-9,66%).
The operating result in 2012 was positive (2,55%) falling within the field's average.
The amount of the operating result is equal to Eur. 836.030 showing a fall as opposed to the previous year (-22,32%).
The economic management produced a gross operating margin of Eur. 1.384.728 with no sensible increase as against 2011.
The analysis shows a fair financial position as the indebtedness volume is acceptable (2,29) and falling as against the previous year (3,44).
The equity capital is equal to Eur. 8.527.166 , rising by 20,55%.
Total indebtedness was equal to Eur. 23.214.540 (Eur. 3.641.325 was the value of m/l term debts) , with no sensible variation.
Bank borrowings' volume is slightly high but it modestly dips into suppliers credit, 41,47 gg. is the payments' average time below the sector's average.
The management determines a good range of liquidity.
Trade credits average terms are slow, on average 119,95 days. and higher than the average of the sector.
Eur. 352.749 is the value of cash flow during the year 2012
During 2012 financial year labour costs amounted to Eur. 2.340.915, with a 6,33% incidence on production costs. , whereas the incidence of such costs on sales revenues is equal to 6,23%.
Finacial chareges are high: the incidence on sales volume amounts to -2,69%
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.575.381 |
|
Profit (Loss) for the period |
-195.949 |
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
41.594.295 |
|
Profit (Loss) for the period |
202.088 |
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
40.037.518 |
|
Profit (Loss) for the period |
108.678 |
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.640.592 |
|
Profit (Loss) for the period |
-243.377 |
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
41.930.659 |
|
Profit (Loss) for the period |
-191.496 |
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 |
0,26 |
0,23 |
0,22 |
0,13 |
|
Elasticity Ratio |
Units |
0,74 |
0,77 |
0,78 |
0,85 |
|
Availability of stock |
Units |
0,35 |
0,32 |
0,33 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,40 |
0,45 |
0,45 |
0,62 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,29 |
3,44 |
3,30 |
5,02 |
|
Self Financing Ratio |
Units |
0,26 |
0,20 |
0,20 |
0,13 |
|
Capital protection Ratio |
Units |
0,42 |
0,24 |
0,23 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,22 |
0,11 |
0,19 |
0,10 |
|
Financing |
Units |
2,72 |
3,69 |
3,83 |
6,17 |
|
Permanent Indebtedness Ratio |
Units |
0,39 |
0,28 |
0,33 |
0,25 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,07 |
0,13 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,29 |
2,92 |
3,11 |
1,16 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,52 |
1,24 |
1,49 |
1,57 |
|
Current ratio |
Units |
1,24 |
1,10 |
1,18 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,66 |
0,64 |
0,68 |
0,85 |
|
Structure's primary quotient |
Units |
1,01 |
0,91 |
0,91 |
0,96 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
385,05 |
488,51 |
501,98 |
743,68 |
|
Current Capital ( net ) |
Value |
4.767.351 |
2.393.733 |
4.190.065 |
70.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
0,94 |
1,68 |
1,05 |
1,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-2,30 |
2,86 |
1,58 |
6,68 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1,02 |
8,49 |
6,33 |
19,39 |
|
Return on Investment ( R.O.I. ) |
% |
2,55 |
3,12 |
2,43 |
3,84 |
|
Return/ Sales |
% |
2,22 |
2,59 |
2,09 |
2,16 |
|
Extra Management revenues/charges incid. |
% |
-23,44 |
18,78 |
12,96 |
28,56 |
|
Cash Flow |
Value |
352.749 |
697.443 |
420.719 |
48.046 |
|
Operating Profit |
Value |
836.030 |
1.076.344 |
838.544 |
59.910 |
|
Gross Operating Margin |
Value |
1.384.728 |
1.571.699 |
1.150.585 |
99.701 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
119,95 |
127,59 |
131,06 |
86,56 |
|
Debts to suppliers average term |
Days |
41,47 |
48,88 |
42,80 |
100,32 |
|
Average stock waiting period |
Days |
108,76 |
97,03 |
102,70 |
31,97 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,14 |
1,20 |
1,16 |
1,82 |
|
Rate of stock return |
Units |
3,31 |
3,71 |
3,51 |
11,18 |
|
Labour cost incidence |
% |
6,23 |
6,19 |
6,53 |
5,95 |
|
Net financial revenues/ charges incidence |
% |
-2,69 |
-1,65 |
-1,28 |
-0,81 |
|
Labour cost on purchasing expenses |
% |
6,33 |
6,33 |
6,64 |
5,95 |
|
Short-term financing charges |
% |
5,89 |
3,20 |
3,28 |
2,18 |
|
Capital on hand |
% |
87,38 |
83,07 |
86,15 |
54,67 |
|
Sales pro employee |
Value |
736.772 |
763.198 |
727.954 |
507.074 |
|
Labour cost pro employee |
Value |
45.900 |
47.247 |
47.553 |
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 |
: |
371.318 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
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 lowly risky.
In the region 18.860 protested subjects are found; in the province they count to 1.674.
The insolvency index for the region is 0,46, , while for the province it is 0,46.
Total Bankrupt companies in the province : 607.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
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.