MIRA
INFORM REPORT
|
Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SABO S.P.A. |
|
|
|
|
Registered Office : |
Via Caravaggi, 24040 – Levate
(BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
24.02.2003 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of various chemical products for industrial usage (including antidetonating and anti-freeze preparations) |
|
|
|
|
No of Employees : |
From 131 To 150 Employees |
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 |
Company name & address
Sabo S.p.a.
Via Caravaggi,
24040 - Levate (BG) -IT-
Summary
|
Fiscal Code |
: |
02097420026 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
10/05/2006 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
100.000.000/150.000.000 |
|
Number of Employees |
: |
from 131 to 150 |
Activity
Manufacturer of various chemical products for industrial usage
(including antidetonating and anti-freeze preparations)
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 02097420026 |
|
Chamber of Commerce no. : 366990 of Bergamo
since 05/05/2006 |
|
Chamber of Commerce no. : 1872037 of
Milano |
|
V.A.T. Code : 02097420026 |
|
Establishment date |
: 24/02/2003 |
|
|
Start of Activities |
: 10/05/2006 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000.000 |
|
|
Subscribed Capital |
: 10.000.000 |
|
|
Paid up Capital |
: 10.000.000 |
|
Members
|
|
Bottazzi |
Paolo |
|
|
|
Born in Bergamo |
(BG) |
on 19/03/1956 |
- Fiscal Code : BTTPLA56C19A794D |
|
|
|
Residence: |
|
San Lorenzino |
, 13 |
- 24129 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/03/2013 |
|
|
|
Board Chairman |
26/03/2013 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Gatti |
Sonia |
|
|
|
Born in Bergamo |
(BG) |
on 11/07/1969 |
- Fiscal Code : GTTSNO69L51A794M |
|
|
|
Residence: |
|
Sant'alessandro |
, 108 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
13/05/2009 |
|
|
|
Director |
26/03/2013 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Peverelli |
Germano |
|
|
|
Born in Milano |
(MI) |
on 22/06/1963 |
- Fiscal Code : PVRGMN63H22F205E |
|
|
|
Residence: |
Via Allschwilerweg |
, 6 |
Binningen |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/03/2013 |
|
|
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Bottazzi |
Paolo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Sabo S.p.a. |
Levate (BG) - IT - |
00918210162 |
Managing
Director |
Withdrawn |
Ceased |
|
Sabo S.p.a. |
Levate (BG) - IT - |
00918210162 |
Sole Director |
Withdrawn |
Ceased |
|
Sabo S.p.a. |
Levate (BG) - IT - |
00918210162 |
Procurator |
Withdrawn |
Ceased |
|
C.s.a. - Central Sistemi Antincendio - S.r.l. |
Ciserano (BG) - IT - |
01226330163 |
Sole Director |
Withdrawn |
Ceased |
|
Vitale Srl (in liquidazione) |
- - |
|
Liquidator |
Withdrawn |
Registered |
|
Sabo Foam S.r.l. |
Levate (BG) - IT - |
12955330159 |
Attorney with
special power |
Withdrawn |
Merged |
|
Sabo Foam S.r.l. |
Levate (BG) - IT - |
12955330159 |
Procurator |
Withdrawn |
Merged |
|
Pais - S.r.l. |
Bergamo (BG) - IT - |
00368680161 |
Sole Director |
Active |
Registered |
|
Pais - S.r.l. |
Bergamo (BG) - IT - |
00368680161 |
General Partner |
Withdrawn |
Registered |
|
Pais - S.r.l. |
Bergamo (BG) - IT - |
00368680161 |
Legal Owners'
representative |
Withdrawn |
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.
Capital Shareholders
Shareholders' list
as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bottazzi Paolo |
Bergamo - IT - |
BTTPLA56C19A794D |
9.500.000 .Eur |
95,00 |
|
Vischetti Alberto |
Stezzano - IT - |
VSCLRT73D11A794E |
100.000 .Eur |
1,00 |
|
Gatti Sonia |
Bergamo - IT - |
GTTSNO69L51A794M |
100.000 .Eur |
1,00 |
|
Peverelli Germano |
Binningen - IT - |
PVRGMN63H22F205E |
300.000 .Eur |
3,00 |
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 |
|
Sabo International SA |
Lugano (CH) - PT - |
|
|
98,00 |
|
|
Active |
|
Finsabo S.p.a. |
Levate - IT - |
00217050160 |
600.000 .Eur |
100,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Caravaggi |
- 24040 |
- Levate |
(BG) |
- IT - |
|
|
|
|
PHONE |
: 035596000 |
|
|
|
|
FAX |
: 035594400 |
|
|
|
|
Email |
|
- |
Branch |
(Warehouse) |
since 15/03/2008 |
|
|
|
|
|
|
Lainate |
, 26 |
- 20010 |
- Pogliano Milanese |
(MI) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/04/2012 |
|
|
|
|
|
|
Provinciale |
, 31 |
- 24040 |
- Lallio |
(BG) |
- IT - |
|
|
|
|
Legal mail |
|
|
|
|
Employees |
: 147 |
|
Fittings and Equipment for a value of
7.330.000 |
Eur |
|
Stocks for a value of 18.290.000 |
Eur |
Trade organization: direct or by agents.
The company sells in Italy and abroad.
The company 's mainly customers are
companies.
|
|
The firm operates abroad as importer /
exporter..
Export trade is the 30 % of the global
turnover.
Import comes generally from the following
nations:
|
- Germany |
|
- |
|
- Great Britain |
Export is mainly towards:
|
- Europa |
Traded Brands / Suppliers
|
- BASF SE |
|
- CIBA SC |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Bottazzi |
Paolo |
|
|
|
Born in Bergamo |
(BG) |
on 19/03/1956 |
- Fiscal Code : BTTPLA56C19A794D |
|
|
|
Residence: |
|
San Lorenzino |
, 13 |
- 24129 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Sole partner |
|
|
Zanetti |
Anna Maria |
|
|
|
Born in Bergamo |
(BG) |
on 22/12/1928 |
- Fiscal Code : ZNTNMR28T62A794P |
|
|
|
Residence: |
|
Xx Settembre |
, 58 |
- 24122 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Demicheli |
Pierantonio |
|
|
|
Born in Bergamo |
(BG) |
on 24/08/1937 |
- Fiscal Code : DMCPNT37M24A794A |
|
|
|
Residence: |
|
Caravaggi |
, 9 |
- 24040 |
Levate |
(BG) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Scarpenti |
Paolo |
|
|
|
Born in Borgo Val di Taro |
(PR) |
on 28/03/1960 |
- Fiscal Code : SCRPLA60C28B042P |
|
|
|
Residence: |
|
Caravaggi |
- 24040 |
Levate |
(BG) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
|
|
Doneda |
Aldo |
|
|
|
Born in Bergamo |
(BG) |
on 10/09/1936 |
- Fiscal Code : DNDLDA36P10A794U |
|
|
|
Residence: |
|
Xxv Aprile |
, 6 |
- 24020 |
Villa di Serio |
(BG) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Zanetti |
Stefano |
|
|
|
Born in Bergamo |
(BG) |
on 31/05/1966 |
- Fiscal Code : ZNTSFN66E31A794G |
|
|
|
Residence: |
|
Caravaggi |
, 9 |
- 24040 |
Levate |
(BG) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Masera |
Alessandro |
|
|
|
Born in Sondrio |
(SO) |
on 10/02/1958 |
- Fiscal Code : MSRLSN58B10I829X |
|
|
|
Residence: |
|
Nullo |
, 29 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm
absorbed by merging of |
|
|
|
|
|
|
|
|
Caravaggi |
, 24040 |
, Levate |
(BG) |
- IT - |
|
|
|
Fiscal Code: 00217050160 |
|
|
|
Date |
: |
11/09/2006 |
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 |
|
UNICREDIT BANCA D IMPRESA S.P.A. |
BERGAMO |
VIA ADAMELLO 4 |
24100 |
Bergamo |
3226 |
11100 |
|
INTESA SANPAOLO SPA |
|
|
|
|
3069 |
0 |
|
MONTE DEI PASCHI DI SIENA SPA |
|
|
|
|
1030 |
0 |
Financial and Economical Analysis
Company's starting of activities dates back
to 2006.
An eco-fin analysis has been made on the
base od the b/s fo the years 2010, 2011 and 2012.
Under an economic point of view, profits
were registered during the last years with a r.o.e. of 23,78% in 2012 with a
good increase in turnover (+8,32% in 2012 compared to 2011 and +12,81% in 2011
compared to 2010).
The operating result in 2012 was positive
(10,78%) falling within the field's average.
The operating result is positive and amounts
to Eur. 7.816.826 increasing if compared to the yeart 2011.
The gross operating margin of the latest
financial year is of Eur. 12.333.149 ,with no change if compared to the year
before.
The financial status of the company is
fairly balanced with an indebtedness level of 2,19 and decreasing as against
2011.
The management generated equity capital for
an amount of Eur. 19.672.903 on stable levels.
During the last financial year total debts
volume reached Eur. 50.875.489 (Eur. 7.777.778 were m/l term ones) showing a
stable trend as opposed to 2011 (Eur. 50.312.036).
Bank borrowings' volume is slightly high but
it modestly dips into suppliers credit, 76,85 gg. is the payments' average time
which is within the sector's average.
The management determines a good range of
liquidity.
On average trade credits are collected in
76,29 days. , a better value than the sector's average.
As far as the cash flow is concerned during
the latest financial year it amounted to Eur. 9.193.656
Subordinate employment cost is of Eur.
8.176.007, i.e. 6,78% on total production costs. , with a 6,51% incidence on
turnover.
The financial management has a limited
economic impact, equal to -0,68% on the sales.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
125.552.958 |
|
Profit (Loss) for the period |
4.677.333 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
115.900.110 |
|
Profit (Loss) for the period |
2.337.153 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
102.735.991 |
|
Profit (Loss) for the period |
2.617.591 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
76.561.719 |
|
Profit (Loss) for the period |
1.457.498 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
85.942.334 |
|
Profit (Loss) for the period |
473.715 |
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 |
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 |
0,32 |
0,37 |
0,40 |
0,33 |
|
Elasticity Ratio |
Units |
0,67 |
0,63 |
0,60 |
0,65 |
|
Availability of stock |
Units |
0,25 |
0,22 |
0,18 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,42 |
0,41 |
0,42 |
0,47 |
|
Quick Ratio |
Units |
0,00 |
0,02 |
0,01 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,19 |
2,38 |
2,51 |
1,60 |
|
Self Financing Ratio |
Units |
0,27 |
0,24 |
0,23 |
0,28 |
|
Capital protection Ratio |
Units |
0,25 |
0,25 |
0,18 |
0,69 |
|
Liabilities consolidation quotient |
Units |
0,22 |
0,26 |
0,32 |
0,21 |
|
Financing |
Units |
2,59 |
3,05 |
3,27 |
2,10 |
|
Permanent Indebtedness Ratio |
Units |
0,40 |
0,40 |
0,41 |
0,47 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,16 |
0,18 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,29 |
1,71 |
1,99 |
0,66 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,23 |
1,08 |
1,03 |
1,28 |
|
Current ratio |
Units |
1,13 |
1,05 |
1,03 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,71 |
0,69 |
0,71 |
0,90 |
|
Structure's primary quotient |
Units |
0,84 |
0,65 |
0,57 |
0,90 |
|
Treasury's primary quotient |
Units |
0,00 |
0,04 |
0,02 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
368,43 |
416,07 |
439,49 |
353,06 |
|
Current Capital ( net ) |
Value |
5.782.303 |
2.203.738 |
1.141.960 |
592.597 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
7,32 |
7,09 |
7,99 |
3,97 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
23,78 |
14,17 |
17,04 |
2,57 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
36,55 |
23,74 |
26,87 |
9,20 |
|
Return on Investment ( R.O.I. ) |
% |
10,78 |
6,73 |
7,08 |
3,84 |
|
Return/ Sales |
% |
6,23 |
3,98 |
4,65 |
4,05 |
|
Extra Management revenues/charges incid. |
% |
59,84 |
50,62 |
54,81 |
25,15 |
|
Cash Flow |
Value |
9.193.656 |
8.221.955 |
8.209.049 |
316.000 |
|
Operating Profit |
Value |
7.816.826 |
4.617.127 |
4.776.075 |
279.308 |
|
Gross Operating Margin |
Value |
12.333.149 |
10.501.929 |
10.397.533 |
532.534 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
76,29 |
79,44 |
87,75 |
104,54 |
|
Debts to suppliers average term |
Days |
76,85 |
68,83 |
70,27 |
96,16 |
|
Average stock waiting period |
Days |
52,45 |
46,08 |
43,65 |
50,38 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,73 |
1,69 |
1,52 |
1,16 |
|
Rate of stock return |
Units |
6,86 |
7,81 |
8,25 |
7,14 |
|
Labour cost incidence |
% |
6,51 |
6,79 |
7,18 |
13,54 |
|
Net financial revenues/ charges incidence |
% |
-0,68 |
-0,66 |
-0,63 |
-1,46 |
|
Labour cost on purchasing expenses |
% |
6,78 |
6,95 |
7,43 |
13,80 |
|
Short-term financing charges |
% |
1,67 |
1,58 |
1,29 |
3,24 |
|
Capital on hand |
% |
57,73 |
59,22 |
65,70 |
86,41 |
|
Sales pro employee |
Value |
492.364 |
813.334 |
733.828 |
352.121 |
|
Labour cost pro employee |
Value |
32.062 |
55.198 |
52.698 |
44.319 |
Market / Territory Data
|
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 expenses average in the
region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 435
significant companies.
The companies cash their credits on an
average of 105 dd.
The average duration of suppliers debts is
about 96 dd.
The sector's profitability is on an average
of 3,97%.
The labour cost affects the turnover in the
measure of 13,54%.
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 1,16.
The employees costs represent the 13,80% of
the production costs.
Statistical Detrimental Data
Statistically 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.59.47 |
|
UK Pound |
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
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.