MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERFIL S.P.A. |
|
|
|
|
Registered Office : |
Via Di'vittorio G., 0010, 20094 – Corsico (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
18.04.1985 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
· Engaged in Preparation and spinning of textile fibres · Wholesaler of raw and semi-finished textile fibres |
|
|
|
|
No of Employees : |
From 6 To 10 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
Interfil S.p.a.
Via Di'vittorio G., 0010
20094 - Corsico (MI) -IT-
Summary
|
Fiscal Code |
: |
07837790158 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
20/06/1985 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
20.000.000/25.000.000 |
|
Number of Employees |
: |
from 6 to 10 |
Activity
· Engaged in Preparation and spinning of textile fibres
· Wholesaler of raw and semi-finished textile fibres
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 07837790158 |
|
Foreign Trade Reg. no. : MI069456 since
23/12/1991 |
|
Foreign Trade Reg. no. : 069456 of Milano
since 23/12/1991 |
|
Chamber of Commerce no. : 1186151 of
Milano since 12/06/1985 |
|
V.A.T. Code : 07837790158 |
|
Tribunal Co. Register : 246724 of since
12/06/1985 |
|
Foundation date |
: 18/04/1985 |
|
|
Establishment date |
: 18/04/1985 |
|
|
Start of Activities |
: 20/06/1985 |
|
|
Legal duration |
: 31/12/2035 |
|
|
Nominal Capital |
: 520.000 |
|
|
Subscribed Capital |
: 520.000 |
|
|
Paid up Capital |
: 520.000 |
Members
|
|
Modiano |
Guido |
|
|
Born in Istanbul |
( ) |
on 05/04/1936 |
- Fiscal Code : MDNGDU36D05Z243S |
|
|
Residence: |
Alberto Da Giussano |
, 26 |
- 20145 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/04/2012 |
||
|
Board Chairman |
06/04/2012 |
||
|
Managing Director |
06/04/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Modiano |
Alfredo |
|
|
Born in Milano |
(MI) |
on 05/09/1964 |
- Fiscal Code : MDNLRD64P05F205R |
|
|
Residence: |
Santa Maria Alla Porta |
, N. 5 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/04/2012 |
||
|
Managing Director |
06/04/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Moranelli |
Stefania |
|
|
Born in Milano |
(MI) |
on 03/08/1969 |
- Fiscal Code : MRNSFN69M43F205T |
|
|
Residence: |
Spadolini Giovanni |
, 10/A |
- 20141 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
20/09/2011 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Angelucci |
Matilde |
|
|
Born in Paderno Dugnano |
(MI) |
on 27/06/1963 |
- Fiscal Code : NGLMLD63H67G220R |
|
|
Residence: |
Brodolini |
, 3 |
- 20054 |
Nova Milanese |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
22/05/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
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.
|
|
Modiano |
Guido |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Motex Di Modiano Guido |
Milano (MI) - IT - |
MDNGDU36D05Z243S |
Proprietor |
Active |
Registered |
|
Ennetielle Srl |
Milano (MI) - IT - |
10131110156 |
Director |
Active |
Registered |
|
Modal S.r.l. |
Gallarate (VA) - IT - |
02646460127 |
Sole Director |
Withdrawn |
Registered |
|
Appello Ebraico Per La Solidarieta' -
Organizzazione Non Lucrativa Di Utilita' S |
Milano (MI) - IT - |
97252730151 |
Director |
Withdrawn |
Registered |
|
Fricky S.r.l. |
Milano (MI) - IT - |
07645390969 |
Sole 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.
Capital Shareholders
Shareholders'
list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Modiano Guido |
Milano - IT - |
MDNGDU36D05Z243S |
416.000 .Eur |
80,00 |
|
Modiano Alfredo |
Milano - IT - |
MDNLRD64P05F205R |
104.000 .Eur |
20,00 |
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 |
|
Di'vittorio G. |
, 0010 |
- 20094 |
- Corsico |
(MI) |
- IT - |
|
PHONE |
: 024404941 |
|
FAX |
: 024401414 |
|
Employees |
: 8 |
|
Fittings and Equipment for a value of
2.000 |
Eur |
|
Stocks for a value of 4.490.000 |
Eur |
|
Furniture and fittings for a value of
8.000 |
Eur |
|
Vans for a value of 13.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- its own sales net-work |
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- its own sales net-work |
Import comes generally from the following
nations:
|
- Italy |
Export is mainly towards:
|
- Italy |
Historical Information and/or Firm's Status
COMPANY'S CAPITAL
CHANGES:
|
Former Type |
Former Amount |
New Type |
New Amount |
Changement Date |
|
387.343 |
516.457 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Modiano Guido |
|
|
Born in Istambul |
( ) |
on 05/04/1936 |
|
|
Fiscal residence: |
Caprilli |
, 31 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
|
Kohen Cuhacioglu
Leon |
|
|
Born in Istambul |
( ) |
on 30/10/1949 |
|
|
Fiscal residence: |
Zamagna |
, 19 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Vice-Chairman |
|
|
Barissever |
Yosef Bali |
|
|
Born in Instanbul |
( ) |
on 12/05/1949 |
- Fiscal Code : BRSYFB49E12Z243L |
|
|
Residence: |
San Gimignano |
, N. 2/1 |
- 20146 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
|
Director |
|
|
De Simoni |
Gloria |
|
|
Born in Alessandria |
(AL) |
on 17/06/1956 |
- Fiscal Code : DSMGLR56H57A182L |
|
|
Residence: |
Fabio Filzi |
, 3 |
- 20094 |
Corsico |
(MI) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
|
|
Zenobi |
Elsabetta |
|
|
Born in Jesi |
(AN) |
on 22/04/1957 |
- Fiscal Code : ZNBLBT57D62E388M |
|
|
Residence: |
Giorgio Merula |
, 2 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Attorney with special power |
|
|
Gattulli |
Davide |
|
|
Born in Castellanza |
(VA) |
on 01/04/1976 |
- Fiscal Code : GTTDVD76D01C139Q |
|
|
Residence: |
Anna Frank |
, 23 |
- 21100 |
Varese |
(VA) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Barzaghini |
Cesare Augusto |
|
|
Born in Gallarate |
(VA) |
on 28/06/1973 |
- Fiscal Code : BRZCRG73H28D869H |
|
|
Residence: |
Cesare Correnti |
, 27/B |
- 21013 |
Gallarate |
(VA) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Battista |
Celestino |
|
|
Born in Legnano |
(MI) |
on 01/10/1968 |
- Fiscal Code : BTTCST68R01E514U |
|
|
Residence: |
A. Agosti |
, N. 18 |
- 20025 |
Legnano |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Palazzo |
Selene |
|
|
Born in Milano |
(MI) |
on 10/07/1967 |
- Fiscal Code : PLZSLN67L50F205X |
|
|
Residence: |
Castelmorrone |
, 3 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
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.
Financial and Economical Analysis
Company's starting of activities dates back
to 1985.
The economic-financial analysis is based on
the latest 3 b/s.
During the last years, it recorded positive
net results (r.o.e. 8,52% in 2013) with an increase in 2013 (+20,93%).
The operating result was positive in the
last financial year (4,35%) falling within the field's average.
An operating result of Eur. 568.257 has been
registered. rising (+66,74%) in relation to the previous year.
The gross operating margin of the latest
financial year is of Eur. 603.460 showing an upward trend if compared to 2012.
The financial status of the company is fairly
balanced with an indebtedness level of 3,1 and decreasing as against 2012.
It's shareholders funds amount to Eur.
2.982.436 , unchanged if compared to 2012.
The financial management has recorded total
debts amounting to Eur. 9.792.098, , a more or less stable value.
Bank borrowings' volume is slightly high but
the recourse to suppliers' credit is modest which is also lower than the sector
average.
Payments are supported by good current
assets.
Accounts receivable average term is high
(123,47 days). but on the same levels as the average of the sector.
During financial year 2013 the cash flow
amounted to Eur. 289.195
Labour cost amounts to Eur. 497.249, with a
2,31% incidence on production costs. , whereas the incidence of such costs on
sales revenues is equal to 2,25%.
Limited financial charges in relation to
sales volume.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.094.096 |
|
Profit (Loss) for the period |
253.992 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.270.124 |
|
Profit (Loss) for the period |
168.274 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.654.624 |
|
Profit (Loss) for the period |
516.277 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
20.511.002 |
|
Profit (Loss) for the period |
602.071 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.258.229 |
|
Profit (Loss) for the period |
131.341 |
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 31/12/2013 - 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 |
|
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|
|
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 |
0,00 |
0,00 |
0,00 |
0,11 |
|
Elasticity Ratio |
Units |
1,00 |
0,99 |
0,99 |
0,87 |
|
Availability of stock |
Units |
0,34 |
0,38 |
0,31 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,65 |
0,62 |
0,68 |
0,56 |
|
Quick Ratio |
Units |
0,04 |
0,03 |
0,02 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
3,10 |
3,20 |
3,07 |
3,81 |
|
Self Financing Ratio |
Units |
0,23 |
0,23 |
0,24 |
0,17 |
|
Capital protection Ratio |
Units |
0,74 |
0,75 |
0,62 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,02 |
0,02 |
0,02 |
0,12 |
|
Financing |
Units |
3,28 |
3,32 |
3,14 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,24 |
0,24 |
0,25 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,02 |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,49 |
2,46 |
2,36 |
1,28 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
86,69 |
65,98 |
67,16 |
2,06 |
|
Current ratio |
Units |
1,33 |
1,32 |
1,34 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,87 |
0,82 |
0,92 |
0,84 |
|
Structure's primary quotient |
Units |
80,96 |
61,81 |
63,33 |
1,28 |
|
Treasury's primary quotient |
Units |
0,06 |
0,04 |
0,02 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
438,39 |
441,29 |
422,08 |
591,61 |
|
Current Capital ( net ) |
Value |
3.238.165 |
2.899.758 |
2.916.404 |
219.071 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,31 |
1,35 |
2,73 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
8,52 |
6,17 |
18,70 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
13,36 |
9,94 |
28,82 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
4,35 |
2,83 |
8,25 |
4,19 |
|
Return/ Sales |
% |
2,57 |
1,87 |
4,24 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
44,70 |
49,38 |
53,70 |
29,26 |
|
Cash Flow |
Value |
289.195 |
245.964 |
619.203 |
61.669 |
|
Operating Profit |
Value |
568.257 |
340.801 |
961.401 |
95.558 |
|
Gross Operating Margin |
Value |
603.460 |
418.491 |
1.064.327 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
123,47 |
121,15 |
117,47 |
120,94 |
|
Debts to suppliers average term |
Days |
28,68 |
38,12 |
32,58 |
120,04 |
|
Average stock waiting period |
Days |
73,13 |
89,82 |
57,67 |
61,92 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,69 |
1,52 |
1,94 |
1,27 |
|
Rate of stock return |
Units |
4,92 |
4,01 |
6,24 |
5,74 |
|
Labour cost incidence |
% |
2,25 |
2,52 |
2,01 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-0,77 |
-0,50 |
-0,73 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
2,31 |
2,56 |
2,10 |
7,90 |
|
Short-term financing charges |
% |
1,74 |
1,01 |
1,92 |
2,67 |
|
Capital on hand |
% |
59,18 |
65,90 |
51,43 |
78,39 |
|
Sales pro employee |
Value |
2.761.762 |
2.283.765 |
1.618.187 |
437.713 |
|
Labour cost pro employee |
Value |
62.156 |
57.542 |
32.554 |
33.928 |
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
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 6.137
significant companies.
The companies cash their credits on an
average of 121 dd.
The average duration of suppliers debts is
about 120 dd.
The sector's profitability is on an average
of 2,22%.
The labour cost affects the turnover in the
measure of 7,77%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and
the resources used to realize it is about 1,27.
The employees costs represent the 7,90% of
the production costs.
Statistical Detrimental Data
Statistically the trade activity passes
through serious crises.
The area is statistically considered lowly
risky.
In the region 50.886 protested subjects are
found; in the province they count to 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.