MIRA INFORM REPORT
|
Report Date : |
21.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROVAGNATI VINCENZO S.P.A. |
|
|
|
|
Registered Office : |
Via San Francesco, 19, 22066 - Mariano
Comense (CO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.11.1986 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Weaving of Textiles |
|
|
|
|
No. of Employees : |
From 71 to 90 |
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 and address
ROVAGNATI VINCENZO S.P.A.
Via San
Francesco, 19
22066 - Mariano
Comense (CO) -IT-
Summary
|
Fiscal Code |
: |
01649150131 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
26/11/1986 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 71 to 90 |
Activity
Weaving of textiles
Legal
Data
Legal Form : Joint stock company
Fiscal Code : 01649150131
Foreign Trade Reg. no. : CO017368 since
30/12/1991
Foreign Trade Reg. no. : 17368 of Como since
30/12/1991
Chamber of Commerce no. : 118379 of Ancona
Chamber of Commerce no. : 205650 of Como since
02/01/1987
Chamber of Commerce no. : 96436 of Taranto
Chamber of Commerce no. : 136379 of Taranto
Firms' Register : CO075-20684 of Como since
19/02/1996
V.A.T. Code : 01649150131
|
Foundation date |
: 26/11/1986 |
|
Establishment date |
: 26/11/1986 |
|
Start of Activities |
: 26/11/1986 |
|
Legal duration |
: 31/12/2100 |
|
Nominal Capital |
: 2.000.000 |
|
Subscribed Capital |
: 2.000.000 |
|
Paid up Capital |
: 2.000.000 |
Members
|
|
Rovagnati |
Giulio |
|
|
Born in Mariano Comense |
(CO) |
on 08/02/1961 |
- Fiscal Code : RVGGLI61B08E951X |
|
|
Residence: |
Carlo Mauri |
, 15 |
- 22066 |
Mariano Comense |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
27/06/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Rovagnati |
Emilio |
|
|
Born in Mariano Comense |
(CO) |
on 14/08/1958 |
- Fiscal Code : RVGMLE58M14E951N |
|
|
Residence: |
Santo Stefano |
, 58/A |
- 22066 |
Mariano Comense |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
27/06/2012 |
|
|
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.
|
|
Rovagnati |
Giulio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Rova Couture S.n.c. Di Emilio E Giulio
Rovagnati |
Mariano Comense (CO) - IT - |
02272740131 |
Partner |
Active |
Registered |
|
Azienda Agricola Del Dosso Di Colombo E.E
C. Societa' In Accoman Dita Semplice |
Orsenigo (CO) - IT - |
82004320139 |
Limited Partner |
Active |
Registered |
|
Ariantex S.r.l. |
Arosio (CO) - IT - |
02852580139 |
Director |
Active |
Registered |
|
|
Rovagnati |
Emilio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Rova Couture S.n.c. Di Emilio E Giulio
Rovagnati |
Mariano Comense (CO) - IT - |
02272740131 |
Partner |
Active |
Registered |
|
Azienda Agricola Del Dosso Di Colombo E.E
C. Societa' In Accoman Dita Semplice |
Orsenigo (CO) - IT - |
82004320139 |
Limited Partner |
Active |
Registered |
|
Ariantex S.r.l. |
Arosio (CO) - IT - |
02852580139 |
Board Chairman |
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 |
|
Rovagnati Giulio |
Mariano Comense - IT - |
RVGGLI61B08E951X |
1.223.500 .Eur |
61,17 |
|
Rovagnati Emilio |
Mariano Comense - IT - |
RVGMLE58M14E951N |
1.223.500 .Eur |
61,17 |
|
Colombo Erminia |
CLMRMN29A41B851W |
52.500 .Eur |
2,62 |
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 |
|
Ariantex S.r.l. |
Arosio - IT - |
02852580139 |
24.000 .Eur |
80,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and
operative seat |
since 26/11/1986 |
|
San Francesco |
, 19 |
- 22066 |
- Mariano Comense |
(CO) |
- IT - |
|
PHONE |
: 031746012 |
|
- |
Branch |
(Warehouse) |
since 18/03/1991 |
|
Dell'industria, 107 |
- 60024 |
- Filottrano |
(AN) |
- IT - |
|
PHONE |
: 031746012 |
|
FAX |
: 0717220097 |
|
- |
Branch |
(Warehouse) |
since 06/11/1996 |
|
F.lli Rosselli |
, 20 |
- 22060 |
- Arosio |
(CO) |
- IT - |
|
PHONE |
: 031746012 |
|
Employees |
: 68 |
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of
640.000 |
Eur |
|
Stocks for a value of 4.010.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- national or foreign important buyers |
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following
nations:
|
- Austria |
|
- Italy |
|
- Belgium |
|
- Great Britain |
Historical Information and/or Firm's Status
COMPANY STYLE
MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Rovignati Finanziaria S.p.A. |
EX-MEMBERS /
EX-POSITIONS:
|
|
Rovagnati |
Emilio |
|
|
Born in Mariano Comense |
(CO) |
on 14/08/1958 |
|
|
Residence: |
C. Mauri |
- 22066 |
Mariano Comense |
(CO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Rovagnati |
Vincenzo |
|
|
Born in Mariano Comense |
(CO) |
on 23/10/1910 |
- Fiscal Code : RVGVCN10R23E951A |
|
|
Residence: |
Carlo Mauri |
, 15 |
- 22066 |
Mariano Comense |
(CO) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
Board Chairman |
|
|
Ghezzi |
Emiliana |
|
|
Born in Lanzo d'Intelvi |
(CO) |
on 07/04/1947 |
- Fiscal Code : GHZMLN47D47E444O |
|
|
Residence: |
Rosales |
, 2 |
- 22070 |
Casnate Con Bernate |
(CO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Ballabio |
Giovanna |
|
|
Born in Albavilla |
(CO) |
on 29/01/1951 |
- Fiscal Code : BLLGNN51A69A143D |
|
|
Residence: |
Cavour |
, 3 |
- 22031 |
Albavilla |
(CO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Rovagnati |
Giulio |
|
|
Born in Mariano Comense |
(CO) |
on 08/02/1961 |
- Fiscal Code : RVGGLI61B08E951X |
|
|
Residence: |
Carlo Mauri |
, 15 |
- 22066 |
Mariano Comense |
(CO) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Botta |
Alberto |
|
|
Born in Como |
(CO) |
on 06/01/1946 |
- Fiscal Code : BTTLRT46A06C933F |
|
|
Residence: |
Lazzago |
, 1 |
- 22100 |
Como |
(CO) |
- IT - |
|
Ex-Postions |
|
Permanent 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
Subject is active since 1986
An eco-fin analysis has been made on the
base od the b/s fo the years 2011, 2012 and 2013.
During the last years, it recorded positive
net results (r.o.e. 5,09% in 2013) with a stable trend in the turnover.
The operating result in 2013 was positive
(5,08%) and in line with the sector's average.
An operating result of Eur. 1.041.854 has
been registered. rising (+37,45%) in relation to the previous year.
A gross operating margine for a value of
Eur. 1.428.044 was reached. stable if compared to the financial year 2012.
Very good financial situation: shareholder's
equity covers short-terms debts with an indebtedness level equal to 0,06 but
slighlty increasing.
The management generated equity capital for
an amount of Eur. 15.699.084 on stable levels.
Total indebtedness was equal to Eur.
3.185.307 (Eur. 700.000 was the value of m/l term debts) , with no sensible
variation.
Moderate recourse to bank credit while the
exposure towards suppliers is rather high but lined up with the field's
average.
Liquidity is good (5,37)
As far as the collection of credit goes, the
average is high (143,02 days). besides being higher than the sector's average.
During financial year 2013 the cash flow
amounted to Eur. 1.184.973
During 2013 financial year labour costs
amounted to Eur. 1.905.716, with a 18,92% incidence on production costs. and a
17,67% incidence on sales volumes.
The financial charges do not negatively
affect the management, as they are covered by the incomes.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.787.865 |
|
Profit (Loss) for the period |
798.783 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.952.823 |
|
Profit (Loss) for the period |
671.459 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.636.626 |
|
Profit (Loss) for the period |
394.199 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.702.236 |
|
Profit (Loss) for the period |
571.606 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.856.645 |
|
Profit (Loss) for the period |
202.774 |
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 |
0,35 |
0,35 |
0,35 |
0,22 |
|
Elasticity Ratio |
Units |
0,65 |
0,65 |
0,65 |
0,75 |
|
Availability of stock |
Units |
0,20 |
0,20 |
0,20 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,46 |
0,46 |
0,44 |
0,45 |
|
Quick Ratio |
Units |
0,23 |
0,23 |
0,17 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,06 |
0,04 |
0,15 |
1,65 |
|
Self Financing Ratio |
Units |
0,77 |
0,74 |
0,72 |
0,30 |
|
Capital protection Ratio |
Units |
0,82 |
0,82 |
0,83 |
0,79 |
|
Liabilities consolidation quotient |
Units |
0,49 |
0,43 |
0,42 |
0,20 |
|
Financing |
Units |
0,20 |
0,24 |
0,28 |
2,05 |
|
Permanent Indebtedness Ratio |
Units |
0,83 |
0,80 |
0,79 |
0,45 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,06 |
0,07 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,57 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,38 |
2,32 |
2,25 |
1,60 |
|
Current ratio |
Units |
5,37 |
4,56 |
4,03 |
1,27 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
3,76 |
3,19 |
2,76 |
0,84 |
|
Structure's primary quotient |
Units |
2,21 |
2,14 |
2,05 |
1,11 |
|
Treasury's primary quotient |
Units |
1,88 |
1,58 |
1,05 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
130,57 |
134,63 |
138,83 |
327,18 |
|
Current Capital ( net ) |
Value |
10.861.264 |
10.213.460 |
9.599.487 |
870.113 |
|
RETURN |
|||||
|
Return on Sales |
% |
10,98 |
10,15 |
6,44 |
1,60 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
5,09 |
4,51 |
2,77 |
0,47 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
7,70 |
6,90 |
4,58 |
2,85 |
|
Return on Investment ( R.O.I. ) |
% |
5,08 |
3,78 |
3,64 |
2,55 |
|
Return/ Sales |
% |
9,66 |
6,92 |
5,69 |
2,66 |
|
Extra Management revenues/charges incid. |
% |
76,67 |
88,59 |
54,86 |
14,76 |
|
Cash Flow |
Value |
1.184.973 |
1.111.838 |
813.748 |
47.325 |
|
Operating Profit |
Value |
1.041.854 |
757.961 |
718.583 |
69.715 |
|
Gross Operating Margin |
Value |
1.428.044 |
1.198.340 |
1.138.132 |
147.816 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
143,02 |
136,36 |
142,03 |
114,56 |
|
Debts to suppliers average term |
Days |
96,57 |
110,54 |
87,00 |
113,59 |
|
Average stock waiting period |
Days |
133,90 |
129,59 |
114,48 |
93,83 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,53 |
0,55 |
0,64 |
0,96 |
|
Rate of stock return |
Units |
2,69 |
2,78 |
3,14 |
3,84 |
|
Labour cost incidence |
% |
17,67 |
17,14 |
15,61 |
15,62 |
|
Net financial revenues/ charges incidence |
% |
1,45 |
0,23 |
-0,28 |
-1,87 |
|
Labour cost on purchasing expenses |
% |
18,92 |
18,45 |
15,57 |
14,72 |
|
Short-term financing charges |
% |
3,36 |
2,32 |
2,85 |
3,34 |
|
Capital on hand |
% |
190,01 |
183,16 |
156,32 |
104,51 |
|
Sales pro employee |
Value |
182.845 |
188.841 |
207.157 |
218.478 |
|
Labour cost pro employee |
Value |
32.300 |
32.361 |
32.343 |
32.758 |
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 634
significant companies.
The companies cash their credits on an
average of 115 dd.
The average duration of suppliers debts is about
114 dd.
The sector's profitability is on an average
of 1,60%.
The labour cost affects the turnover in the
measure of 15,62%.
Goods are held in stock in a range of 94 dd.
The difference between the sales volume and
the resources used to realize it is about 0,96.
The employees costs represent the 14,72% 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 50.886 protested subjects are
found; in the province they count to 3.842.
The insolvency index for the region is 0,55,
, while for the province it is 0,70.
Total Bankrupt companies in the province :
2.010.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.97.32 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.