MIRA
INFORM REPORT
|
Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ING. BONFIGLIOLI S.P.A. |
|
|
|
|
Registered Office : |
Via S. Andrea, 11 40050 - Castello d'Argile (BO) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
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Date of Incorporation : |
29.11.1988 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
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Line of Business : |
· Manufacture of lifting and handling equipment · Manufacture of cranes, capstans, manual and motor monkey winches, transporter trollies, lifting trucks and revolving platforms |
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|
|
|
No. of Employees : |
From 51 to 70 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
ING. BONFIGLIOLI
S.P.A.
Via S. Andrea, 11
40050 - Castello d'Argile (BO) -IT-
Summary
|
Fiscal Code |
: |
03693640371 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
29/11/1988 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Manufacture of lifting and handling equipment
Manufacture of cranes, capstans, manual and motor monkey winches, tr
ansporter trollies, lifting trucks and revolving platforms
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 03693640371 |
|
Foreign Trade Reg. no. : BO001710 since 05/12/1991 |
|
Foreign Trade Reg. no. : 1710 of Bologna since 05/12/1991 |
|
Chamber of Commerce no. : 309745 of Bologna since 03/08/1987 |
|
Chamber of Commerce no. : 246456 of Perugia |
|
Firms' Register : BO006-47200 of Bologna since 19/02/1996 |
|
V.A.T. Code : 00651101206 |
|
Tribunal Co. Register : 47200 of since 13/07/1987 |
|
Foundation date |
: 01/01/1987 |
|
|
Establishment date |
: 15/05/1987 |
|
|
Start of Activities |
: 29/11/1988 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 516.000 |
|
|
Subscribed Capital |
: 516.000 |
|
|
Paid up Capital |
: 516.000 |
|
Members
|
|
Bonfiglioli |
Giancarlo |
|
|
|
Born in Cento |
(FE) |
on 18/08/1939 |
- Fiscal Code : BNFGCR39M18C469Q |
|
|
|
Residence: |
|
Sant'andrea |
, 11/2 |
- 40050 |
Castello d'Argile |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
|
|
|
Board Chairman |
30/04/2013 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bonfiglioli |
Cesare |
|
|
|
Born in Modena |
(MO) |
on 20/10/1967 |
- Fiscal Code : BNFCSR67R20F257S |
|
|
|
Residence: |
|
S.andrea |
, 11 |
- 40050 |
Castello d'Argile |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2013 |
|
|
|
Assistant board Chairman |
30/04/2013 |
|
|
|
|
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.
|
|
Bonfiglioli |
Giancarlo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
S.andrea S.r.l. |
Bologna (BO) - IT - |
02084270376 |
Sole Director |
Active |
Registered |
|
KING S.R.L. |
Bologna (BO) - IT - |
03470920376 |
Sole Director |
Withdrawn |
Registered |
|
KING S.R.L. |
Bologna (BO) - IT - |
03470920376 |
Liquidator |
Withdrawn |
Registered |
|
Esperia S.a.s. Dell'ing. Giancarlo Bonfiglioli E C. |
Bologna (BO) - IT - |
03995630377 |
General Partner |
Active |
Registered |
|
Domus S.a.s. Di Gianluca Arena E C. |
Bologna (BO) - IT - |
03534520378 |
General Partner |
Withdrawn |
Registered |
|
San Benedetto S.p.a. |
Bologna (BO) - IT - |
03865820371 |
Sole Director |
Active |
Registered |
|
San Benedetto S.p.a. |
Bologna (BO) - IT - |
03865820371 |
General Partner |
Withdrawn |
Registered |
|
Tre Erre S.a.s. Dell'ing. Giancarlo Bonfiglioli E C. |
Bologna (BO) - IT - |
03940630373 |
General Partner |
Active |
Registered |
|
WASP S.R.L. |
Bologna (BO) - IT - |
04086760370 |
Sole Director |
Withdrawn |
Registered |
|
ACHA S.R.L. |
- - |
04136310374 |
Director |
Active |
Registered |
|
OLEODINAMICA BONFIGLIOLI DI G. BONFIGLIOLI |
Castello d'Argile (BO) - IT - |
BNFGCR39M18C469Q |
Proprietor |
Withdrawn |
Registered |
|
IMMOBILIARE CINQUERRE SOCIETA PER AZIONI |
Bologna (BO) - IT - |
01095130371 |
Sole Director |
Withdrawn |
Registered |
|
La Torre S.r.l. |
Bologna (BO) - IT - |
02401411208 |
Sole Director |
Active |
Registered |
|
Castello Pepoli S.p.a. |
Bologna (BO) - IT - |
02417061203 |
Sole Director |
Active |
Registered |
|
|
Bonfiglioli |
Cesare |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Societa' Agricola Corte De' Gozzadini S.r.l. |
Bologna (BO) - IT - |
03982360376 |
Sole Director |
Active |
Registered |
|
Esperia S.a.s. Dell'ing. Giancarlo Bonfiglioli E C. |
Bologna (BO) - IT - |
03995630377 |
Limited Partner |
Active |
Registered |
|
Tre Erre S.a.s. Dell'ing. Giancarlo Bonfiglioli E C. |
Bologna (BO) - IT - |
03940630373 |
Limited Partner |
Active |
Registered |
|
Azienda Agricola Cesare Bonfiglioli |
Castello d'Argile (BO) - IT - |
BNFCSR67R20F257S |
Proprietor |
Active |
Registered |
|
AURORA S.A.S. DI ROSANNA GUALANDI E C. |
Bologna (BO) - IT - |
04015400379 |
Limited Partner |
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 |
|
Bonfiglioli Giancarlo |
Castello d'Argile - IT - |
BNFGCR39M18C469Q |
258.000 .Eur |
50,00 |
|
Bonfiglioli Cesare |
Castello d'Argile - IT - |
BNFCSR67R20F257S |
258.000 .Eur |
50,00 |
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 |
|
since 15/05/1987 |
|
|
|
|
|
|
S. Andrea |
, 11 |
- 40050 |
- Castello d'Argile |
(BO) |
- IT - |
|
|
|
|
PHONE |
: 0516867214 |
|
|
|
|
PHONE |
: 0516867097 |
|
|
|
|
PHONE |
: 051686724 |
|
|
|
|
FAX |
: 0516867222 |
|
- |
Branch |
(Warehouse) |
since 01/04/1992 |
|
|
|
|
|
|
Suore |
- 40050 |
- Castello d'Argile |
(BO) |
- IT - |
|
|
|
|
PHONE |
: 0516867214 |
|
- |
Branch |
(Warehouse) |
since 01/04/2000 |
|
|
|
|
|
|
Muzza Nord |
, SNC |
- 40014 |
- Crevalcore |
(BO) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/02/2006 |
|
|
|
|
|
|
La Torre |
- 06059 |
- Todi |
(PG) |
- IT - |
|
|
|
|
Employees |
: 56 |
|
Fittings and Equipment for a value of 230.000 |
Eur |
|
Stocks for a value of 15.890.000 |
Eur |
|
|
The firm operates abroad as exporter..
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Italy |
|
- France |
|
- Austria |
|
- Belgium |
|
- Great Britain |
|
- Greece |
Historical Information and/or
Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
20/10/1989 |
EX-MEMBERS / EX-POSITIONS:
|
|
Bonfiglioli |
Giancarlo |
|
|
|
Born in Cento |
(FE) |
on 18/08/1939 |
- Fiscal Code : BNFGCR39M18C469Q |
|
|
|
Residence: |
|
Sant'andrea |
, 11/2 |
- 40050 |
Castello d'Argile |
(BO) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Petrolati |
Alberto |
|
|
|
Born in Rocca di Papa |
(RM) |
on 01/09/1940 |
- Fiscal Code : PTRLRT40P01H404B |
|
|
|
Residence: |
|
Mazzini |
, 7 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Righetti |
Andrea |
|
|
|
Born in Bologna |
(BO) |
on 02/05/1955 |
- Fiscal Code : RGHNDR55E02A944E |
|
|
|
Residence: |
|
Minghetti |
, 1 |
- 40100 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Gottardi |
Massimiliano |
|
|
|
Born in Bologna |
(BO) |
on 03/06/1966 |
- Fiscal Code : GTTMSM66H03A944H |
|
|
|
Residence: |
|
Cesare Battisti |
, 3 |
- 40123 |
Bologna |
(BO) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Casanova |
Antonio |
|
|
|
Born in Cento |
(FE) |
on 13/06/1927 |
- Fiscal Code : CSNNTN27H13C469C |
|
|
|
Residence: |
|
Donati |
, 3 |
- 44042 |
Cento |
(FE) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
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 1988
The economic-financial analysis has been made on the base of the b/s of the latests three years.
Under an economic point of view, profits were registered during the last years with a r.o.e. of 1,93% in 2012 but without a significant increase in the turnover.
The operating result in 2012 was positive (2,89%) and in line with the sector's average.
The amount of the operating result for the year 2012 is of Eur. 945.422 recording a drop as opposed to the year before (-22,87%).
During the latest financial year the gross operating margin amounted to Eur. 1.244.666 , stable if compared to the year before.
The financial position is not well balanced as the volume of debts is fairly remarkable if compared to shareholder's equity, in fact total debts are 5,11 falling if compared to 2011.
The management generated equity capital for an amount of Eur. 4.411.716 on stable levels.
Total debts recorded amounted to Eur. 27.074.122 (Eur. 4.402.031 of which were m/l term debts) with no important change.
Financial debts as well as debts to suppliers are rather high however still within the sector's average.
It shows a good range of liquidity.
Due from customers average term is high and equal to 110,34 days. within the average values of the sector.
During financial year 2012 the cash flow amounted to Eur. 384.398
During 2012 financial year labour costs amounted to Eur. 4.225.436, with a 10,56% incidence on production costs. and a 11,17% incidence on sales volumes.
Financial charges have a limited incidence (-1,4%) on sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.835.720 |
|
Profit (Loss) for the period |
85.154 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
40.125.753 |
|
Profit (Loss) for the period |
246.234 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.529.234 |
|
Profit (Loss) for the period |
257.638 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.746.639 |
|
Profit (Loss) for the period |
25.974 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
45.395.130 |
|
Profit (Loss) for the period |
300.158 |
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 |
0,04 |
0,05 |
0,05 |
0,18 |
|
Elasticity Ratio |
Units |
0,93 |
0,93 |
0,92 |
0,79 |
|
Availability of stock |
Units |
0,49 |
0,42 |
0,33 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,45 |
0,50 |
0,59 |
0,52 |
|
Quick Ratio |
Units |
0,00 |
0,03 |
0,02 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
5,11 |
5,34 |
5,25 |
3,01 |
|
Self Financing Ratio |
Units |
0,13 |
0,13 |
0,13 |
0,19 |
|
Capital protection Ratio |
Units |
0,86 |
0,82 |
0,81 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,21 |
0,14 |
0,16 |
0,16 |
|
Financing |
Units |
6,14 |
6,19 |
6,16 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,23 |
0,25 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,10 |
0,12 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
3,27 |
2,40 |
2,07 |
0,69 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
6,67 |
4,98 |
4,94 |
1,65 |
|
Current ratio |
Units |
1,35 |
1,26 |
1,27 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,65 |
0,69 |
0,82 |
0,86 |
|
Structure's primary quotient |
Units |
3,18 |
2,83 |
2,64 |
1,02 |
|
Treasury's primary quotient |
Units |
0,00 |
0,04 |
0,03 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
741,90 |
754,07 |
748,37 |
509,92 |
|
Current Capital ( net ) |
Value |
7.891.082 |
6.324.372 |
6.033.203 |
330.495 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,02 |
1,18 |
1,72 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,93 |
5,69 |
6,31 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
9,41 |
16,41 |
15,76 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
2,89 |
3,76 |
3,58 |
4,89 |
|
Return/ Sales |
% |
2,50 |
3,05 |
2,99 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
9,01 |
20,09 |
23,56 |
29,96 |
|
Cash Flow |
Value |
384.398 |
475.165 |
629.385 |
165.166 |
|
Operating Profit |
Value |
945.422 |
1.225.761 |
1.093.423 |
225.594 |
|
Gross Operating Margin |
Value |
1.244.666 |
1.454.692 |
1.465.170 |
376.080 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
110,34 |
114,30 |
148,91 |
111,07 |
|
Debts to suppliers average term |
Days |
117,39 |
127,16 |
147,64 |
127,44 |
|
Average stock waiting period |
Days |
151,19 |
124,40 |
98,82 |
62,88 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,16 |
1,23 |
1,20 |
1,10 |
|
Rate of stock return |
Units |
2,38 |
2,89 |
3,64 |
5,58 |
|
Labour cost incidence |
% |
11,17 |
9,84 |
9,48 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
-1,40 |
-1,29 |
-1,23 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
10,56 |
9,29 |
9,88 |
18,99 |
|
Short-term financing charges |
% |
3,71 |
3,46 |
3,41 |
2,55 |
|
Capital on hand |
% |
86,51 |
81,31 |
83,59 |
90,89 |
|
Sales pro employee |
Value |
286.634 |
668.762 |
579.829 |
199.007 |
|
Labour cost pro employee |
Value |
32.010 |
65.816 |
54.966 |
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 |
: |
|
944.297Monthly 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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.