MIRA INFORM REPORT
|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
CIMBRIA S.R.L. |
|
|
|
|
Registered Office : |
Via Colombarotto, 2, 40026 – Imola
(BO) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
30.09.2013 |
|
|
|
|
Date of Incorporation : |
15.07.2008 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of automatic machines for dosing, wrapping and packaging (including seperate parts and accessories) |
|
|
|
|
No of Employees : |
From 36 to 50 |
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
CIMBRIA S.R.L.
Via Colombarotto, 2
40026 - Imola (BO) -IT-
Summary
|
Fiscal Code |
: |
02864551201 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
Start of Activities |
: |
15/07/2008 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
From 36 to 50 |
Activity
Manufacture of automatic machines for
dosing, wrapping and packaging
(including seperate parts and accessories)
Legal
Data
Legal Form : Sole-Member Limited Liability
Company
|
Fiscal Code : 02864551201 |
|
Chamber of Commerce no. : 473368 of
Bologna since 22/07/2008 |
|
V.A.T. Code : 02864551201 |
|
Establishment date |
: 15/07/2008 |
|
|
Start of Activities |
: 15/07/2008 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 85.150 |
|
|
Subscribed Capital |
: 85.150 |
|
|
Paid up Capital |
: 85.150 |
Members
|
|
Uzzo |
Antonio |
|
|
Born in Lioni |
(AV) |
on 29/03/1949 |
- Fiscal Code : ZZUNTN49C29E605A |
|
|
Residence: |
Ercolani |
, 30 |
- 40026 |
Imola |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/05/2012 |
||
|
Managing Director |
02/05/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Larsen |
Karsten |
|
|
Born in Thisted |
( ) |
on 18/02/1957 |
|
|
Residence: |
Jyllands Alle' |
, 23 |
Thisted |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
02/05/2012 |
||
|
Director |
02/05/2012 |
|
|
No Protests
registered |
|
|
Andersen |
Christian |
|
|
Born in Thisted |
( ) |
on 29/06/1978 |
|
|
Residence: |
Idasminde Mark |
, 4 |
Thisted |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/05/2012 |
|
|
A/s Cimbria |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
03/05/2012 |
|
|
No Protests
registered |
|
|
A/s Cimbria |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
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.
|
|
Uzzo |
Antonio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Sea*societa' Per L'*elettronica*applicatA
S.r.l. |
Castenaso (BO) - IT - |
03476430370 |
Sole Director |
Withdrawn |
Merged |
|
Sea International S.r.l. |
Castenaso (BO) - IT - |
01690761208 |
Chairman |
Withdrawn |
Registered |
|
Sea International S.r.l. |
Castenaso (BO) - IT - |
01690761208 |
Director |
Withdrawn |
Registered |
|
Sea Societa' Per L'elettronica
ApplicataS.r.l. |
Imola (BO) - IT - |
01539171205 |
Sole Director |
Withdrawn |
Registered |
|
Peluzzo S.a.s. Di Antonio Uzzo E C. |
Imola (BO) - IT - |
03124121207 |
General Partner |
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 |
|
A/s Cimbria |
100,00 |
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 |
|
Colombarotto |
, 2 |
- 40026 |
- Imola |
(BO) |
- IT - |
|
Employees |
: 40 |
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of
40.000 |
Eur |
|
Stocks for a value of 2.850.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Uzzo |
Antonio |
|
|
Born in Lioni |
(AV) |
on 29/03/1949 |
- Fiscal Code : ZZUNTN49C29E605A |
|
|
Residence: |
Ercolani |
, 30 |
- 40026 |
Imola |
(BO) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
|
|
Uzzo |
Stefano |
|
|
Born in Aosta |
(AO) |
on 11/11/1971 |
- Fiscal Code : ZZUSFN71S11A326H |
|
|
Residence: |
Lanzoni |
, 28 |
- 40026 |
Imola |
(BO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Pelliconi |
Michela |
|
|
Born in Imola |
(BO) |
on 14/04/1965 |
- Fiscal Code : PLLMHL65D54E289H |
|
|
Residence: |
Bassi G.b. |
, 58 |
- 48024 |
Massa Lombarda |
(RA) |
- IT - |
|
Ex-Postions |
|
Director |
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
Subject is active since 2008
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
During the last years, it achieved profits (r.o.e. 85,86% on 2013) and
during the last financial year an increase in sales volume was registered
(+65,6% in 2013).
The operating result in 2013 was positive (22,23%) and is higher than
the sector's average.
The operating result is positive and amounts to Eur. 1.750.537 with an
increase of more then 100% if the compared to the previous financial year.
The G.O.M. amounted to Eur. 1.925.449 with a more then 100% increase as
opposed to the preceding year.
The ratio between debts and total assets is fairly high, as it comes out
from the indebtedness (4,07) but on the decrease if compared to the year
before.
Subject can manage an equity capital funds for an amount of Eur.
1.261.190 , rising by 607,41%.
Total debts (both short and M/L term) equals Eur. 5.656.104, , a more or
less stable value.
Bank borrowings' volume is slightly high but the recourse to suppliers'
credit is modest below the sector's average.
Payments are supported by good current assets.
Credits are collected in 79,62 days on the average. , a value lower than
the sector's average.
The financial management generated a cash flow of Eur. 1.257.823.
Subordinate employment cost is of Eur. 2.389.832, i.e. 24,75% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 21,38%.
Limited financial charges in relation to sales volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 30/09/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.177.934 |
|
Profit (Loss) for the period |
1.082.911 |
|
|
Complete balance-sheet for the year |
al 30/09/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.749.573 |
|
Profit (Loss) for the period |
217.157 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.225.450 |
|
Profit (Loss) for the period |
-3.064.066 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.516.211 |
|
Profit (Loss) for the period |
767.173 |
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 30/09/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as
at 30/09/2012 - 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 30/09/2013 |
as at 30/09/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,24 |
0,23 |
0,09 |
0,18 |
|
Elasticity Ratio |
Units |
0,75 |
0,76 |
0,91 |
0,79 |
|
Availability of stock |
Units |
0,36 |
0,31 |
0,26 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,39 |
0,45 |
0,65 |
0,52 |
|
Quick Ratio |
Units |
0,07 |
0,10 |
0,16 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
4,07 |
34,30 |
n.c. |
3,01 |
|
Self Financing Ratio |
Units |
0,16 |
0,02 |
n.c. |
0,19 |
|
Capital protection Ratio |
Units |
0,07 |
-0,70 |
n.c. |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,09 |
0,06 |
0,05 |
0,16 |
|
Financing |
Units |
4,48 |
38,74 |
n.c. |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,23 |
0,08 |
n.c. |
0,34 |
|
M/L term Debts Ratio |
Units |
0,07 |
0,05 |
0,05 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
2,22 |
0,00 |
n.c. |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,94 |
0,33 |
n.c. |
1,65 |
|
Current ratio |
Units |
1,05 |
0,88 |
0,84 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,54 |
0,52 |
0,60 |
0,86 |
|
Structure's primary quotient |
Units |
0,67 |
0,10 |
n.c. |
1,02 |
|
Treasury's primary quotient |
Units |
0,09 |
0,11 |
0,14 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
624,31 |
4487,45 |
n.c. |
509,92 |
|
Current Capital ( net ) |
Value |
264.624 |
-800.719 |
-1.215.011 |
330.495 |
|
RETURN |
|||||
|
Return on Sales |
% |
11,25 |
5,26 |
-32,53 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
85,86 |
121,81 |
n.c. |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
134,64 |
231,72 |
n.c. |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
22,23 |
6,13 |
28,60 |
4,89 |
|
Return/ Sales |
% |
15,66 |
7,26 |
21,51 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
61,86 |
44,29 |
-154,41 |
29,96 |
|
Cash Flow |
Value |
1.257.823 |
355.316 |
-3.001.456 |
165.166 |
|
Operating Profit |
Value |
1.750.537 |
490.339 |
1.984.412 |
225.594 |
|
Gross Operating Margin |
Value |
1.925.449 |
628.498 |
2.047.022 |
376.080 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
79,62 |
137,07 |
124,70 |
111,07 |
|
Debts to suppliers average term |
Days |
54,67 |
384,09 |
115,34 |
127,44 |
|
Average stock waiting period |
Days |
91,64 |
133,62 |
69,39 |
62,88 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,42 |
0,84 |
1,33 |
1,10 |
|
Rate of stock return |
Units |
3,93 |
2,69 |
5,19 |
5,58 |
|
Labour cost incidence |
% |
21,38 |
23,58 |
22,61 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
-1,32 |
-1,34 |
0,11 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
24,75 |
25,91 |
26,28 |
18,99 |
|
Short-term financing charges |
% |
2,70 |
1,38 |
0,06 |
2,55 |
|
Capital on hand |
% |
70,44 |
118,53 |
75,20 |
90,89 |
|
Sales pro employee |
Value |
151.053 |
137.746 |
141.930 |
199.007 |
|
Labour cost pro employee |
Value |
32.295 |
32.476 |
32.096 |
34.820 |
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 1.964
significant companies.
The companies cash their credits on an
average of 111 dd.
The average duration of suppliers debts is
about 127 dd.
The sector's profitability is on an average
of 3,79%.
The labour cost affects the turnover in the
measure of 18,94%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and
the resources used to realize it is about 1,10.
The employees costs represent the 18,99% of
the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows
periods of crisis.
The area is statistically considered lowly
risky.
In the region 18.860 protested subjects are
found; in the province they count to 3.720.
The insolvency index for the region is 0,46,
, while for the province it is 0,40.
Total Bankrupt companies in the province :
4.335.
Total Bankrupt companies in the region :
14.698.
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.