MIRA
INFORM REPORT
|
Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
A.D. TUBI INOSSIDABILI S.P.A. |
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Registered Office : |
Via Marradi Giovanni, 1, 20123 - Milano (MI)-IT- |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
30.07.1997 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of tubes, pipes, hollow profiles and related fittings in
steel (except those in refined steel) Electrical power generation,
transmission and distribution |
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No of Employees : |
From 71 to 90 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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|
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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Source
: CIA |
Company name & address
A.D. TUBI
INOSSIDABILI S.P.A.
Via Marradi Giovanni, 1
20123 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
12147570159 |
|
Legal Form |
: |
Joint stock company |
|
Start of Activities |
: |
30/07/1997 |
|
Equity |
: |
Over 2.582.254 |
|
|
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
From 71 to 90 |
Activity
Manufacture of tubes, pipes, hollow profiles
and related fittings in
steel (except those in refined steel)
Electrical power generation, transmission
and distribution
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 12147570159 |
|
Foreign Trade Reg. no. : MI329231 since
06/12/2002 |
|
Chamber of Commerce no. : 255792 of |
|
Chamber of Commerce no. : 1534001 of
Milano since 04/07/1997 |
|
Firms' Register : MI-1997-191220 of Milano
since 02/07/1997 |
|
V.A.T. Code : 12147570159 |
|
Establishment date |
: 07/05/1997 |
|
|
Start of Activities |
: 30/07/1997 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.248.000 |
|
|
Subscribed Capital |
: 1.248.000 |
|
|
Paid up Capital |
: 1.248.000 |
|
Members
|
|
Santarella |
Enzo |
|
|
|
Born in |
(VA) |
on 28/01/1963 |
- Fiscal Code : SNTNZE63A28B300Y |
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|
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Residence: |
|
|
, 14 |
- 21052 |
|
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
31/05/2012 |
|
|
|
|
Degano |
Andrea |
|
|
|
Born in Fasano |
(BR) |
on 11/04/1954 |
- Fiscal Code : DGNNDR54D11D508A |
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|
|
Residence: |
|
Piave N. |
, 1 |
- 22060 |
Figino Serenza |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
31/05/2012 |
|
|
|
Board Chairman |
31/05/2012 |
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No Prejudicial
events are reported |
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No Protests
registered |
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Simplinox S.r.l. |
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|
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|
|
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: |
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|
, 5 |
- 20135 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Degano |
Roberto |
|
|
|
Born in Cantu' |
(CO) |
on 18/06/1965 |
- Fiscal Code : DGNRRT65H18B639S |
|
|
|
Residence: |
|
Umberto Da Canturio |
, 10 |
- 22063 |
Cantu' |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
31/05/2012 |
|
|
Companies connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which
members hold/held positions are listed.
The Members of the subject firm are not reported
to be Members in other companies.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Santarella Enzo |
|
SNTNZE63A28B300Y |
187.200 .Eur |
15,00 |
|
Borghi Rosa Alda |
Saronno - IT - |
BRGRLD56C60I441E |
124.800 .Eur |
10,00 |
|
Mella Marco |
Carnago - IT - |
MLLMRC59B09L682H |
187.200 .Eur |
15,00 |
|
Degano Andrea |
Figino Serenza - IT - |
DGNNDR54D11D508A |
99.840 .Eur |
8,00 |
|
Simplinox S.r.l. |
Milano - IT - |
04389070964 |
624.000 .Eur |
50,00 |
|
Ballabio Giovanna |
|
BLLGNN57C53D579F |
24.960 .Eur |
2,00 |
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 |
|
M2 Serigrafica S.r.l. |
Anzano del Parco (CO) - IT - |
00594250136 |
26.000 .Eur |
100,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Marradi Giovanni |
, 1 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Factory) |
since 15/11/2002 |
|
|
|
|
|
|
Comunale Via |
, 4 |
- 22070 |
- Casnate Con Bernate |
(CO) |
- IT - |
|
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PHONE |
: 031630672 |
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PHONE |
: 031396341 |
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FAX |
: 0314036989 |
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|
|
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Employees |
: 73 |
|
Fittings and Equipment for a value of
1.410.000 |
Eur |
|
Stocks for a value of 7.240.000 |
Eur |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Gadda |
Davide |
|
|
|
Born in Legnano |
(MI) |
on 23/08/1965 |
- Fiscal Code : GDDDVD65M23E514L |
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|
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Residence: |
|
Martiri Di Belfiore |
, 23 |
- 20020 |
Busto Garolfo |
(MI) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Bartesaghi |
Piero |
|
|
|
Born in Erba |
(CO) |
on 10/04/1965 |
- Fiscal Code : BRTPRI65D10D416P |
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Residence: |
|
Martinelli |
, 8 |
- 22030 |
Pusiano |
(CO) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
|
Director |
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|
Garbin |
Erol |
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Born in Milano |
(MI) |
on 06/02/1965 |
- Fiscal Code : GRBRLE65B06F205L |
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Residence: |
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Del Gonfalone |
, 5 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
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|
Boccassini |
Guido Alessandro |
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|
|
Born in Milano |
(MI) |
on 19/01/1957 |
- Fiscal Code : BCCGLS57A19F205X |
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|
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Residence: |
|
Morandi |
, 5 |
- 20094 |
Buccinasco |
(MI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
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|
|
Giovanni |
|
|
|
Born in |
(VA) |
on 31/01/1966 |
- Fiscal Code : CRMGNN66A31B300J |
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|
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Residence: |
|
Mameli |
, 23 |
- 21052 |
|
(VA) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Monarca |
Paolo |
|
|
|
Born in |
(NA) |
on 24/12/1968 |
- Fiscal Code : MNRPLA68T24F839Y |
|
|
|
Residence: |
|
|
, 7 |
- 20144 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Trevisan |
Stefano |
|
|
|
Born in Venezia |
(VE) |
on 06/11/1961 |
- Fiscal Code : TRVSFN61S06L736S |
|
|
|
Residence: |
|
Cucchiari Domenico |
, 30 |
- 20155 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Artina |
Valerio |
|
|
|
Born in |
(BG) |
on 01/03/1962 |
- Fiscal Code : RTNVLR62C01A794Q |
|
|
|
Residence: |
|
Santo Pezzotta |
, 9 |
- 24020 |
Scanzorosciate |
(BG) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of
merging by taking over of |
|
|
|
|
|
|
|
|
Per Cavolto |
, 11 |
, 22040 |
, Anzano del Parco (CO) |
- IT - |
|
|
|
Fiscal Code: 00594250136 |
|
|
|
Date |
Merging/splitting-up project: |
29/11/2010 |
|
|
The firm
absorbed by merging of |
|
|
|
|
|
|
|
|
Per Cavolto |
, 11 |
, 22040 |
, Anzano del Parco (CO) |
- IT - |
|
|
|
Fiscal Code: 00594250136 |
|
|
|
Date |
: |
18/02/2011 |
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 1997
Balance sheets for the years 2011, 2012 and
2013 were analyzed.
During the last years, it recorded positive
net results (r.o.e. 9,08% in 2013) and during the last financial year an
increase in sales volume was registered (+12,34% in 2013).
The operating result was positive in the
last financial year (4,98%) and reflects the field's average.
An operating result of Eur. 849.428 has been
registered. , on more or less the same values as in the year before.
The economic management produced a gross
operating margin of Eur. 1.389.547 , stable if compared to the year before.
The analysis shows a fair financial position
as the indebtedness volume is acceptable (2,5) even though on the increase if
compared to 2012.
The equity capital is equal to Eur.
3.988.146 on stable levels.
Total debts recorded amounted to Eur.
12.503.218 (Eur. 1.805.236 of which were m/l term debts) with a growth equal to
21,44%.
The exposure towards banks is slightly high,
the recourse to suppliers' credit is limited below the sector's average.
Payments are supported by good current
assets.
On average trade credits are collected in
73,96 days. , a better value than the sector's average.
During financial year 2013 the cash flow
amounted to Eur. 902.400
Labour cost expenses amount to Eur.
2.355.543 , representing 9,21% on the total of production costs. , whereas the
incidence of such costs on sales revenues is equal to 8,89%.
Financial charges have a limited incidence
(-1,16%) on sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
26.499.014 |
|
Profit (Loss) for the period |
362.281 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.586.427 |
|
Profit (Loss) for the period |
169.686 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.130.037 |
|
Profit (Loss) for the period |
212.283 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.072.706 |
|
Profit (Loss) for the period |
40.679 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.343.845 |
|
Profit (Loss) for the period |
41.164 |
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 |
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|
|
|
|
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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 |
0,18 |
0,24 |
0,21 |
0,33 |
|
Elasticity Ratio |
Units |
0,81 |
0,75 |
0,78 |
0,64 |
|
Availability of stock |
Units |
0,42 |
0,40 |
0,32 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,39 |
0,35 |
0,47 |
0,41 |
|
Quick Ratio |
Units |
0,04 |
0,04 |
0,09 |
0,01 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
2,50 |
2,44 |
2,45 |
1,76 |
|
Self Financing Ratio |
Units |
0,23 |
0,25 |
0,22 |
0,28 |
|
Capital protection Ratio |
Units |
0,60 |
0,61 |
0,58 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,21 |
0,12 |
0,22 |
0,21 |
|
Financing |
Units |
3,14 |
2,84 |
3,37 |
2,32 |
|
Permanent Indebtedness Ratio |
Units |
0,36 |
0,33 |
0,36 |
0,44 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,08 |
0,14 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,42 |
0,85 |
0,78 |
1,23 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,03 |
1,39 |
1,71 |
1,38 |
|
Current ratio |
Units |
1,29 |
1,15 |
1,23 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,62 |
0,53 |
0,73 |
0,80 |
|
Structure's primary quotient |
Units |
1,31 |
1,05 |
1,06 |
0,84 |
|
Treasury's primary quotient |
Units |
0,07 |
0,07 |
0,13 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
427,62 |
398,62 |
445,17 |
353,85 |
|
Current Capital ( net ) |
Value |
3.144.846 |
1.391.831 |
2.266.010 |
1.089.006 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,41 |
3,05 |
3,01 |
4,21 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
9,08 |
4,68 |
6,14 |
5,65 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
18,89 |
16,55 |
17,41 |
10,45 |
|
Return on Investment ( R.O.I. ) |
% |
4,98 |
6,81 |
5,15 |
5,10 |
|
Return/ Sales |
% |
3,21 |
4,17 |
3,15 |
5,37 |
|
Extra Management revenues/charges incid. |
% |
42,65 |
17,23 |
26,81 |
32,26 |
|
Cash Flow |
Value |
902.400 |
719.307 |
756.112 |
656.826 |
|
Operating Profit |
Value |
849.428 |
984.685 |
791.861 |
725.724 |
|
Gross Operating Margin |
Value |
1.389.547 |
1.534.306 |
1.335.690 |
1.207.677 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
73,96 |
57,63 |
72,18 |
103,53 |
|
Debts to suppliers average term |
Days |
83,11 |
100,28 |
101,42 |
107,64 |
|
Average stock waiting period |
Days |
98,30 |
88,66 |
69,77 |
64,91 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,55 |
1,63 |
1,63 |
1,09 |
|
Rate of stock return |
Units |
3,66 |
4,06 |
5,16 |
5,55 |
|
Labour cost incidence |
% |
8,89 |
9,58 |
7,47 |
10,69 |
|
Net financial revenues/ charges incidence |
% |
-1,16 |
-1,20 |
-0,79 |
-1,62 |
|
Labour cost on purchasing expenses |
% |
9,21 |
9,69 |
7,67 |
11,43 |
|
Short-term financing charges |
% |
2,49 |
2,79 |
1,78 |
3,56 |
|
Capital on hand |
% |
64,36 |
61,28 |
61,22 |
91,63 |
|
Sales pro employee |
Value |
363.000 |
336.948 |
571.137 |
358.274 |
|
Labour cost pro employee |
Value |
32.267 |
32.274 |
42.658 |
35.860 |
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 |
: |
|
3.839.216Monthly 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 185
significant companies.
The companies cash their credits on an average
of 104 dd.
The average duration of suppliers debts is
about 108 dd.
The sector's profitability is on an average
of 4,21%.
The labour cost affects the turnover in the
measure of 10,69%.
Goods are held in stock in a range of 65 dd.
The difference between the sales volume and
the resources used to realize it is about 1,09.
The employees costs represent the 11,43% 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 50.886 protested subjects are
found; in the province they count to 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.47 |
|
|
1 |
Rs.98.77 |
|
Euro |
1 |
Rs.77.65 |
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.