MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
GIMO'S ITALIANA S.P.A. |
|
|
|
|
Registered Office : |
Via Monte Bianco,,1, 35018 - San
Martino di Lupari (PD) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.03.1975 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of leather clothes |
|
|
|
|
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 |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
COMPANY
NAME & ADDRESS
GIMO'S ITALIANA
S.P.A.
Via Monte Bianco,, 1
35018 - San Martino di Lupari (PD) -IT-
Summary
|
Fiscal Code |
: |
00403830284 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
12/03/1975 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
From 51 to 70 |
Activity
Manufacture of leather clothes
Legal
Data
Legal Form : Joint stock company
|
Register of Handcraft firms : 44151 |
|
Register of Handcraft firms : 44151 of
Padova |
|
Fiscal Code : 00403830284 |
|
Foreign Trade Reg. no. : PD023497 since
01/04/1992 |
|
Foreign Trade Reg. no. : 23497 of Padova |
|
Chamber of Commerce no. : 1559954 of
Milano |
|
Chamber of Commerce no. : 124168 of Padova
since 14/04/1975 |
|
Firms' Register : PD060-9439 of Padova
since 19/02/1996 |
|
V.A.T. Code : 00403830284 |
|
Tribunal Co. Register : 9439 of |
|
Foundation date |
: 12/03/1975 |
|
|
Establishment date |
: 12/03/1975 |
|
|
Start of Activities |
: 12/03/1975 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.500.000 |
|
|
Subscribed Capital |
: 1.500.000 |
|
|
Paid up Capital |
: 1.500.000 |
Members
|
|
Girardin |
Renzo |
|
|
Born in San Martino di Lupari |
(PD) |
on 03/10/1942 |
- Fiscal Code : GRRRNZ42R03I008A |
|
|
Residence: |
Toscanelli |
, 3 |
- 31033 |
Castelfranco Veneto |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2014 |
||
|
Board Chairman |
16/05/2014 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Girardin |
Massimo |
|
|
Born in Cittadella |
(PD) |
on 18/09/1969 |
- Fiscal Code : GRRMSM69P18C743X |
|
|
Residence: |
Brigata C. Battisti |
, 10 |
- 31033 |
Castelfranco Veneto |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2014 |
|
|
Girardin |
Sabrina |
|
|
Born in Castelfranco Veneto |
(TV) |
on 04/12/1967 |
- Fiscal Code : GRRSRN67T44C111B |
|
|
Residence: |
Puglia |
, 9 |
- 31033 |
Castelfranco Veneto |
(TV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2014 |
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.
|
|
Girardin |
Renzo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Padova Moda |
Padova (PD) - IT - |
00059930289 |
Director |
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 |
|
Girardin Renzo |
Castelfranco Veneto - IT - |
GRRRNZ42R03I008A |
825.000 .Eur |
55,00 |
|
Girardin Massimo |
Castelfranco Veneto - IT - |
GRRMSM69P18C743X |
225.000 .Eur |
15,00 |
|
Girardin Sabrina |
Castelfranco Veneto - IT - |
GRRSRN67T44C111B |
150.000 .Eur |
10,00 |
|
Bobbato Silva |
BBBSLV44C45C111E |
300.000 .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 |
|
Monte Bianco, |
, 1 |
- 35018 |
- San Martino di Lupari |
(PD) |
- IT - |
|
PHONE |
: 0499461444 |
|
PHONE |
: 0499462032 |
|
PHONE |
: 0499467000 |
|
FAX |
: 0499467080 |
|
Employees |
: 60 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
380.000 |
Eur |
|
Stocks for a value of 1.410.000 |
Eur |
|
Furniture and fittings for a value of
36.000 |
Eur |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
24/03/1990 |
COMPANY STYLE
MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Gimo's Italiana S.n.c. di Girardin Renzoe
C. |
24/03/1990 |
EX-MEMBERS /
EX-POSITIONS:
|
|
Antonello |
Lucio |
|
|
Born in San Martino di Lupari |
(PD) |
on 24/02/1952 |
- Fiscal Code : NTNLCU52B24I008T |
|
|
Residence: |
Michele Sanmicheli |
, 40 |
- 35123 |
Padova |
(PD) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Beghetto |
Luigi |
|
|
Born in Villafranca Padovana |
(PD) |
on 25/01/1947 |
- Fiscal Code : BGHLGU47A25L947Y |
|
|
Residence: |
Santissima Trinita' |
, 9 |
- 35100 |
Padova |
(PD) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Grigolon |
Armando |
|
|
Born in Campo San Martino |
(PD) |
on 28/12/1957 |
- Fiscal Code : GRGRND57T28B564P |
|
|
Residence: |
Borgo Treviso |
, 65 |
- 35013 |
Cittadella |
(PD) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Girardin |
Renzo |
|
|
Born in San Martino di Lupari |
(PD) |
on 03/10/1942 |
- Fiscal Code : GRRRNZ42R03I008A |
|
|
Residence: |
Toscanelli |
, 3 |
- 31033 |
Castelfranco Veneto |
(TV) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Andreatta |
Carlo |
|
|
Born in Tombolo |
(PD) |
on 25/01/1922 |
- Fiscal Code : NDRCRL22A25L199M |
|
|
Residence: |
Roma |
, 70 |
- 35019 |
Tombolo |
(PD) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Andretta |
Giancarlo |
|
|
Born in Bassano del Grappa |
(VI) |
on 23/06/1954 |
- Fiscal Code : NDRGCR54H23A703W |
|
|
Residence: |
Europa |
, 92/A |
- 35013 |
Cittadella |
(PD) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Di Ciaula |
Franco |
|
|
Born in Padova |
(PD) |
on 15/05/1969 |
- Fiscal Code : DCLFNC69E15G224F |
|
|
Residence: |
Monte Grappa |
, 7/A |
- 35142 |
Padova |
(PD) |
- IT - |
||
|
Ex-Postions |
|||||||||
|
Temporary Auditor |
|||||||||
|
|
Domenighini |
Anna |
|
|
Born in Padova |
(PD) |
on 28/08/1961 |
- Fiscal Code : DMNNNA61M68G224X |
|
|
Residence: |
Palese |
, 18 |
- 35100 |
Padova |
(PD) |
- 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
The company is active since 1975
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it recorded positive net results (r.o.e. 3,61% in
2013) keeping the turnover steady during the last two years.
The return on Investment in the last financial year was positive (7,13%)
and in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur.
1.000.676 with no increase in relation to the financial year 2012.
The gross operating margin of the latest financial year is of Eur.
1.254.030 , stable if compared to the year before.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,13) and with an upward trend compared to the previous year.
Subject can manage an equity capital funds for an amount of Eur.
8.999.173 on the same levels as the year before.
Total debts (both short and M/L term) equals Eur. 4.148.327, , with no
sensible variation.
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited below the sector's average.
The management determines a good range of liquidity.
Due from customers average term is high and equal to 103,63 days. within
the average values of the sector.
During financial year 2013 the cash flow amounted to Eur. 578.324
Labour cost amounts to Eur. 2.345.194, with a 17,28% incidence on
production costs. , with a 16,1% incidence on turnover.
High incidence of financial charges on turnover.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.563.277 |
|
Profit (Loss) for the period |
324.970 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.344.823 |
|
Profit (Loss) for the period |
438.618 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.049.728 |
|
Profit (Loss) for the period |
1.001.147 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.369.153 |
|
Profit (Loss) for the period |
704.034 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.385.603 |
|
Profit (Loss) for the period |
-59.408 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,34 |
0,34 |
0,14 |
|
Elasticity Ratio |
Units |
0,67 |
0,64 |
0,64 |
0,84 |
|
Availability of stock |
Units |
0,10 |
0,12 |
0,08 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,57 |
0,52 |
0,55 |
0,53 |
|
Quick Ratio |
Units |
0,21 |
0,12 |
0,14 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,13 |
0,27 |
0,37 |
3,78 |
|
Self Financing Ratio |
Units |
0,64 |
0,65 |
0,59 |
0,17 |
|
Capital protection Ratio |
Units |
0,80 |
0,78 |
0,70 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,00 |
0,00 |
0,00 |
0,14 |
|
Financing |
Units |
0,46 |
0,45 |
0,60 |
4,55 |
|
Permanent Indebtedness Ratio |
Units |
0,64 |
0,65 |
0,59 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,07 |
1,26 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,10 |
1,93 |
1,76 |
1,87 |
|
Current ratio |
Units |
2,26 |
2,20 |
1,79 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,92 |
1,80 |
1,55 |
0,79 |
|
Structure's primary quotient |
Units |
2,10 |
1,93 |
1,76 |
1,13 |
|
Treasury's primary quotient |
Units |
0,72 |
0,41 |
0,38 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
155,85 |
154,94 |
168,79 |
587,75 |
|
Current Capital ( net ) |
Value |
5.239.549 |
4.694.993 |
3.952.927 |
209.248 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,97 |
4,87 |
8,37 |
2,26 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
3,61 |
5,06 |
12,00 |
3,48 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
5,95 |
7,46 |
18,98 |
12,19 |
|
Return on Investment ( R.O.I. ) |
% |
7,13 |
7,02 |
13,30 |
3,83 |
|
Return/ Sales |
% |
6,87 |
6,58 |
12,44 |
3,45 |
|
Extra Management revenues/charges incid. |
% |
32,48 |
46,48 |
53,46 |
20,46 |
|
Cash Flow |
Value |
578.324 |
698.065 |
1.260.336 |
50.400 |
|
Operating Profit |
Value |
1.000.676 |
943.664 |
1.872.603 |
68.610 |
|
Gross Operating Margin |
Value |
1.254.030 |
1.203.111 |
2.131.792 |
124.742 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
103,63 |
118,91 |
126,71 |
120,68 |
|
Debts to suppliers average term |
Days |
56,93 |
66,81 |
52,99 |
115,81 |
|
Average stock waiting period |
Days |
34,95 |
39,11 |
28,04 |
78,40 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,04 |
1,07 |
1,07 |
1,14 |
|
Rate of stock return |
Units |
10,30 |
9,21 |
12,84 |
4,57 |
|
Labour cost incidence |
% |
16,10 |
15,70 |
14,80 |
12,27 |
|
Net financial revenues/ charges incidence |
% |
-2,18 |
-1,92 |
-1,05 |
-1,84 |
|
Labour cost on purchasing expenses |
% |
17,28 |
16,48 |
16,63 |
12,16 |
|
Short-term financing charges |
% |
8,01 |
7,71 |
3,55 |
3,35 |
|
Capital on hand |
% |
96,30 |
93,69 |
93,55 |
87,41 |
|
Sales pro employee |
Value |
199.496 |
247.324 |
218.112 |
245.343 |
|
Labour cost pro employee |
Value |
32.125 |
38.841 |
32.279 |
32.046 |
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 |
: |
|
Monthly family expences 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 864
significant companies.
The companies cash their credits on an
average of 121 dd.
The average duration of suppliers debts is
about 116 dd.
The sector's profitability is on an average
of 2,26%.
The labour cost affects the turnover in the
measure of 12,27%.
Goods are held in stock in a range of 78 dd.
The difference between the sales volume and
the resources used to realize it is about 1,14.
The employees costs represent the 12,16% of
the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes
through serious crises.
The area is statistically considered
moderately risky.
In the region 13.782 protested subjects are
found; in the province they count to 2.646.
The insolvency index for the region is 0,30,
, while for the province it is 0,30.
Total Bankrupt companies in the province :
3.821.
Total Bankrupt companies in the region :
16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.