MIRA
INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMMEGI ITALIA
S.R.L. |
|
|
|
|
Registered Office : |
Via Archimede, 10 Limidi, 41019 - Soliera (MO) -IT- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.10.1999 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of machine tools |
|
|
|
|
No of Employees : |
From 6 to 10 |
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 : |
Slow but correct |
|
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
EMMEGI ITALIA S.R.L.
Via Archimede, 10 LIMIDI
41019 - Soliera (MO) -IT-
Summary
|
Fiscal Code |
: |
04433091008 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
16/10/1999 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
15.500.000/18.000.000 |
|
Number of Employees |
: |
From 6 to 10 |
Activity
Wholesale of machine tools
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 04433091008 |
|
Chamber of Commerce no. : 315780 of Modena since 16/11/1999 |
|
Chamber of Commerce no. : 767307 of Roma |
|
Firms' Register : 1764/93 of Roma |
|
V.A.T. Code : 02608110363 |
|
Establishment date |
: 08/01/1993 |
|
|
Start of Activities |
: 16/10/1999 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 93.600 |
|
|
Subscribed Capital |
: 93.600 |
|
|
Paid up Capital |
: 93.600 |
|
Members
|
|
Caiumi |
Valter |
|
|
|
Born in Carpi |
(MO) |
on 20/01/1963 |
- Fiscal Code : CMAVTR63A20B819E |
|
|
|
Residence: |
|
Focherini |
, 10 |
- 41012 |
Carpi |
(MO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
14/07/1995 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Cifin Srl |
|
|
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Emmegi S.p.a. |
|
|
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
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.
|
|
Caiumi |
Valter |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
C.m.s. S.r.l. |
Soliera (MO) - IT - |
01902500360 |
Sole Director |
Withdrawn |
Registered |
|
Emmegi S.p.a. |
Soliera (MO) - IT - |
01978870366 |
Director |
Active |
Registered |
|
Emmegi S.p.a. |
Soliera (MO) - IT - |
01978870366 |
Board Chairman |
Active |
Registered |
|
Cifin Srl |
Soliera (MO) - IT - |
02057270361 |
Director |
Active |
Registered |
|
Cifin Srl |
Soliera (MO) - IT - |
02057270361 |
Board Chairman |
Active |
Registered |
|
R. E S. Engineering - Societa' ConsortilE
A Responsabilita' Limitata Abbreviabil |
Carpi (MO) - IT - |
02253290361 |
Director |
Withdrawn |
Registered |
|
Azienda Agricola Paola |
Soliera (MO) - IT - |
01514960366 |
Partner |
Active |
Registered |
|
"GREEN S.R.L." |
- - |
01646420354 |
Managing
Director |
Active |
Registered |
|
Immobiliare Soft S.r.l. |
Soliera (MO) - IT - |
02415270368 |
Managing
Director |
Active |
Registered |
|
Immobiliare Soft S.r.l. |
Soliera (MO) - IT - |
02415270368 |
Director |
Active |
Registered |
|
Uimservizi - Societa' A
Responsabilita'Limitata |
Modena (MO) - IT - |
03003560368 |
Director |
Active |
Registered |
|
Uimservizi - Societa' A
Responsabilita'Limitata |
Modena (MO) - IT - |
03003560368 |
Board Chairman |
Active |
Registered |
|
Emmegisoft Srl |
Soliera (MO) - IT - |
03236850362 |
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 |
|
Cifin Srl |
|
02057270361 |
52.416 .Eur |
56,00 |
|
Emmegi S.p.a. |
|
01978870366 |
41.184 .Eur |
44,00 |
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 |
|
|
|
|
|
|
|
Archimede |
, 10 |
- 41019 |
- Soliera |
(MO) |
- IT - |
|
|
|
|
PHONE |
: 059561788 |
|
- |
Branch |
(Warehouse) |
since 01/10/2005 |
|
|
|
|
|
|
Torricelli |
, 20 |
- 41019 |
- Soliera |
(MO) |
- IT - |
|
- |
Branch |
(Store) |
since 01/02/2012 |
|
|
|
|
|
Carpi Ravarino |
, 238 |
- 41019 |
- Soliera |
(MO) |
- IT - |
|
|
|
|
Employees |
: 7 |
|
Fittings and Equipment for a value of 150.000 |
Eur |
|
Stocks for a value of 1.900.000 |
Eur |
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: |
|
|
|
Prejudicial
Events found with cancellations* |
Legal Mortgage on 29/04/2011.
for an amount of 142.308 Euro. Event writing-off
|
RISCOSSIONE UNO SPA ( ORA EQUITALIA SPA)
|
Search performed on a specialized data base.
*Concerns also partially erased events.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
The company is active since 1999
The eonomic-financial analysis is based on the latest 3 b/s.
Under the financial profile unstable results are noted. yet with a
positive result in the 2013 (r.o.e. 3,81%). The turnover is growing in the last
financial year (+25,45%).
The return on Investment in the last financial year was positive (1,31%)
falling within the field's average.
An operating result of Eur. 205.205 has been registered. with no
increase in relation to the financial year 2012.
During the latest financial year the gross operating margin amounted to
Eur. 446.372 stable if compared to the financial year 2012.
Company's financial status is balanced since indebtedness is not high
(1,22) yet on the increase as against the previous accounting period.
The management generated equity capital for an amount of Eur. 6.508.678
, unchanged if compared to 2012.
Total indebtedness was equal to Eur. 8.848.280 (Eur. 328 was the value
of m/l term debts) , rising as opposed to the previous year (+20,96%).
The recourse to financial credit is within the limits; on the other hand
the recourse to suppliers' credit is rated as fairly high besides being higher
than sector's average.
Liquid assets are good.
Trade credits average terms are slow, on average 115,63 days. within the
average values of the sector.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 369.253
Subordinate employment cost is of Eur. 493.637, i.e. 2,86% on total
production costs. , whereas the incidence on sales revenues is of 2,89%.
Financial charges have a limited incidence (-0,06%) on sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.090.099 |
|
Profit (Loss) for the period |
248.086 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.622.283 |
|
Profit (Loss) for the period |
92.572 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.012.542 |
|
Profit (Loss) for the period |
-1.159.179 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.678.131 |
|
Profit (Loss) for the period |
-8.716 |
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 |
0,06 |
0,09 |
0,07 |
0,10 |
|
Elasticity Ratio |
Units |
0,93 |
0,91 |
0,93 |
0,87 |
|
Availability of stock |
Units |
0,12 |
0,15 |
0,10 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,81 |
0,76 |
0,83 |
0,61 |
|
Quick Ratio |
Units |
0,06 |
0,06 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,22 |
1,04 |
1,86 |
4,04 |
|
Self Financing Ratio |
Units |
0,42 |
0,45 |
0,34 |
0,16 |
|
Capital protection Ratio |
Units |
0,95 |
0,97 |
1,17 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,02 |
0,02 |
0,02 |
0,11 |
|
Financing |
Units |
1,36 |
1,17 |
1,90 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,43 |
0,46 |
0,35 |
0,26 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,01 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
6,62 |
5,10 |
5,23 |
2,12 |
|
Current ratio |
Units |
1,66 |
1,72 |
1,45 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,44 |
1,43 |
1,28 |
0,88 |
|
Structure's primary quotient |
Units |
6,46 |
4,99 |
5,08 |
1,40 |
|
Treasury's primary quotient |
Units |
0,10 |
0,11 |
0,02 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
240,78 |
221,08 |
294,47 |
620,22 |
|
Current Capital ( net ) |
Value |
5.799.101 |
5.239.292 |
5.217.713 |
131.414 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
2,16 |
2,24 |
-4,01 |
2,27 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
3,81 |
1,48 |
-18,79 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
6,98 |
3,72 |
-18,75 |
18,85 |
|
Return on Investment ( R.O.I. ) |
% |
1,31 |
1,45 |
-6,57 |
4,76 |
|
Return/ Sales |
% |
1,20 |
1,47 |
-5,42 |
3,70 |
|
Extra Management revenues/charges incid. |
% |
120,90 |
46,19 |
n.c. |
28,15 |
|
Cash Flow |
Value |
369.253 |
304.714 |
-881.690 |
39.655 |
|
Operating Profit |
Value |
205.205 |
200.415 |
-1.193.486 |
63.123 |
|
Gross Operating Margin |
Value |
446.372 |
412.557 |
-915.997 |
99.042 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
115,63 |
103,78 |
134,83 |
119,16 |
|
Debts to suppliers average term |
Days |
179,18 |
175,59 |
171,28 |
116,83 |
|
Average stock waiting period |
Days |
39,95 |
54,87 |
30,88 |
58,39 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,09 |
0,98 |
1,21 |
1,36 |
|
Rate of stock return |
Units |
9,01 |
6,56 |
11,66 |
6,14 |
|
Labour cost incidence |
% |
2,89 |
4,95 |
4,06 |
8,98 |
|
Net financial revenues/ charges incidence |
% |
-0,06 |
-0,14 |
0,06 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
2,86 |
4,75 |
3,73 |
8,98 |
|
Short-term financing charges |
% |
0,26 |
0,65 |
0,61 |
2,60 |
|
Capital on hand |
% |
91,70 |
101,60 |
82,51 |
73,17 |
|
Sales pro employee |
Value |
1.139.339 |
648.680 |
815.279 |
394.001 |
|
Labour cost pro employee |
Value |
32.909 |
32.134 |
33.118 |
34.340 |
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 |
: |
|
659.925Monthly 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 2.551
significant companies.
The companies cash their credits on an
average of 119 dd.
The average duration of suppliers debts is
about 117 dd.
The sector's profitability is on an average
of 2,27%.
The labour cost affects the turnover in the
measure of 8,98%.
Goods are held in stock in a range of 58 dd.
The difference between the sales volume and
the resources used to realize it is about 1,36.
The employees costs represent the 8,98% 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 3.557.
The insolvency index for the region is 0,46,
, while for the province it is 0,55.
Total Bankrupt companies in the province :
2.526.
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
: |
DIV |
|
|
|
|
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.