MIRA INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAS ENGINEERING AND PLANNING S.R.L. |
|
|
|
|
Registered Office : |
Via Volta, 5, 23867 –
Suello (LC) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.01.1973 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacture of structural metal products. · General mechanics. |
|
|
|
|
No. of Employees : |
From 15 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 |
|
|
|
|
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
|
|
|
Sas Engineering
And Planning S.r.l.
Via Volta, 5
23867 –
Suello (LC) -IT-
Summary
|
Fiscal Code |
: |
00264440132 |
|
Legal Form |
: |
Limited liability
company |
|
start of
Activities |
: |
15/01/1973 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000
|
|
Number of
Employees |
: |
from 51 to 70 |
Activity
Manufacture of structural
metal products
General mechanics
Legal Data
Legal Form : Limited liability company
|
Register of
Handcraft firms : 37499 |
|
Register of
Handcraft firms : 37499 of Lecco since 05/02/1973 |
|
Fiscal Code :
00264440132 |
|
Foreign Trade
Reg. no. : LC006877 since 07/01/1992 |
|
Foreign Trade
Reg. no. : 006877 of Lecco since 07/01/1992 |
|
Chamber of
Commerce no. : 137342 of Lecco since 07/02/1973 |
|
Firms' Register :
of Como |
|
Firms' Register :
LC042-5920 of Lecco since 19/02/1996 |
|
V.A.T. Code :
00264440132 |
|
Establishment
date |
: 30/06/1981 |
|
Start of
Activities |
: 15/01/1973 |
|
Legal duration |
: 31/12/2040 |
|
Nominal Capital |
: 15.600 |
|
Subscribed
Capital |
: 15.600 |
|
Paid up Capital |
: 15.600 |
Members
|
|
Stefanoni |
Fermo Pietro |
|
|
|
Born in Cesello
Brianza |
(CO) |
on 10/06/1947 |
- Fiscal Code :
STFFMP47H10C572O |
|
|
|
Residence: |
|
Don Vito Rimoldi |
, 1 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
19/12/2006 |
|
|
|
Director |
19/12/2006 |
|
|
|
Managing Director |
15/01/2007 |
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Aldeghi |
Giuseppe Mario |
|
|
|
Born in Cesello
Brianza |
(CO) |
on 09/10/1947 |
- Fiscal Code :
LDGGPP47R09C572O |
|
|
|
Residence: |
|
A. Manzoni |
, 27 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/12/2006 |
|
|
|
Partner |
|
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Stefanoni |
Fermo Mario |
|
|
|
Born in Cesello
Brianza |
(CO) |
on 09/07/1948 |
- Fiscal Code :
STFFMM48L09C572S |
|
|
|
Residence: |
|
A. Stoppani |
, 4 |
- 22030 |
Cesana Brianza |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/12/2006 |
|
|
|
Partner |
|
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Stefanoni |
Mauro |
|
|
|
Born in Oggiono |
(CO) |
on 18/09/1976 |
- Fiscal Code :
STFMRA76P18G009I |
|
|
|
Residence: |
|
Don Rimoldi |
, 1 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with
special power |
19/12/2011 |
|
|
|
|
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.
|
|
Stefanoni |
Fermo Pietro |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Comec - S.r.l. |
Lonate Pozzolo
(VA) - IT - |
00188460125 |
Director |
Active |
Registered |
|
Mas Project Due
S.r.l. |
Suello (LC) - IT
- |
06238140153 |
Director |
Active |
Registered |
|
Mas Project Due
S.r.l. |
Suello (LC) - IT
- |
06238140153 |
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 |
|
Stefanoni Fermo
Pietro |
Suello - IT - |
STFFMP47H10C572O |
5.200 .Eur |
33,33 |
|
Aldeghi Giuseppe
Mario |
Suello - IT - |
LDGGPP47R09C572O |
5.200 .Eur |
33,33 |
|
Stefanoni Fermo
Mario |
Cesana Brianza -
IT - |
STFFMM48L09C572S |
5.200 .Eur |
33,33 |
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 |
|
|
|
|
|
|
|
Volta |
, 5 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
|
|
|
PHONE |
: 031655593 |
|
|
|
|
FAX |
: 031657223 |
|
- |
Branch |
(Workshop) |
since 16/01/1985 |
|
|
|
|
|
|
Volta |
, 2 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
|
|
|
PHONE |
: 031655593 |
|
- |
Branch |
|
since 05/01/1990 |
|
|
|
|
|
|
Don Mario Casati |
, 29 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
|
since 01/03/2002 |
|
|
|
|
|
|
Frazione Borima |
, 16/B |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
(Factory) |
since 03/12/2007 |
|
|
|
|
|
|
Per Annone |
, 3 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
|
|
|
Employees |
: 52 |
|
|
|
|
Assistants |
: 3 |
|
Fittings and
Equipment for a value of 590.000 |
Eur |
|
Stocks for a
value of 2.700.000 |
Eur |
|
|
The firm operates
abroad as importer / exporter..
Export represents
up to 20% of the global turnover.
Products abroad are
placed by :
|
- its own sales
net-work |
Historical Information and/or
Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Stefanoni |
Fermo Pietro |
|
|
|
Born in Cesello
Brianza |
(CO) |
on 10/06/1947 |
- Fiscal Code :
STFFMP47H10C572O |
|
|
|
Residence: |
|
Don Vito Rimoldi |
, 1 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Aldeghi |
Giuseppe Mario |
|
|
|
Born in Cesello
Brianza |
(CO) |
on 09/10/1947 |
- Fiscal Code :
LDGGPP47R09C572O |
|
|
|
Residence: |
|
A. Manzoni |
, 27 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Stefanoni |
Fermo Mario |
|
|
|
Born in Cesello
Brianza |
(CO) |
on 09/07/1948 |
- Fiscal Code :
STFFMM48L09C572S |
|
|
|
Residence: |
|
A. Stoppani |
, 4 |
- 22030 |
Cesana Brianza |
(LC) |
- IT - |
|
Ex-Postions |
|
Partner |
|
|
Aldeghi |
Simona |
|
|
|
Born in Lecco |
(CO) |
on 11/04/1975 |
- Fiscal Code :
LDGSMN75D51E507J |
|
|
|
Residence: |
|
Del Lavoro |
, 8 |
- 23883 |
Brivio |
(LC) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Kinspergher |
Fabio |
|
|
|
Born in
Transacqua |
(TN) |
on 11/01/1963 |
- Fiscal Code :
KNSFBA63A11L329P |
|
|
|
Residence: |
|
Piccolongo |
, 6 |
- 39051 |
Vadena |
(BZ) |
- 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
The company is
active since 1973
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. 9,13% in 2013)
The return on
Investment in the last financial year was positive (5,26%) falling within the
field's average.
The operating
result is positive and amounts to Eur. 904.432 increasing if compared to the
yeart 2012.
The gross operating
margin of the latest financial year is of Eur. 1.257.154 ,with no change if
compared to the year before.
The ratio between
shareholder's equity and borrowed capital is not well balanced, the
indebtedness level is equal to 4,48 with an upward trend.
With regard to
equity capital, an amount of Eur. 2.932.014 is registered. on stable levels.
Total indebtedness
was equal to Eur. 13.654.437 (Eur. 510.407 was the value of m/l term debts)
showing a stable trend as opposed to 2012 (Eur. 11.757.466).
Financial
indebtedness is considered fair whereas the recourse to commercial borrowings
is high even in comparison with the sector's.
Liquid assets are
not adequate to subject's needs.
As far as the
collection of credit goes, the average is high (131,01 days). but on the same
levels as the average of the sector.
Eur. 620.491 is the
value of cash flow during the year 2013
In the last
financial year labour cost was of Eur. 1.671.560, with a 12,9% incidence on
total costs of production. , whereas 11,64% is the incidence on sales revenues.
Financial charges
have a high incidence (-2,58%) on turnover figures.
Financial Data
|
|
|
Complete
balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.360.546 |
|
Profit (Loss) for
the period |
267.769 |
|
|
|
Complete
balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.931.201 |
|
Profit (Loss) for
the period |
231.669 |
|
|
|
Complete
balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.191.237 |
|
Profit (Loss) for
the period |
177.121 |
|
|
|
Complete
balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.290.719 |
|
Profit (Loss) for
the period |
127.369 |
|
|
|
Complete
balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.101.421 |
|
Profit (Loss) for
the period |
98.696 |
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 |
0,40 |
0,39 |
0,35 |
0,20 |
|
Elasticity Ratio |
Units |
0,59 |
0,61 |
0,64 |
0,77 |
|
Availability of
stock |
Units |
0,16 |
0,22 |
0,29 |
0,15 |
|
Total Liquidity
Ratio |
Units |
0,44 |
0,39 |
0,35 |
0,55 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,03 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term
indebtedness |
Units |
4,48 |
4,19 |
5,78 |
4,09 |
|
Self Financing
Ratio |
Units |
0,17 |
0,18 |
0,13 |
0,15 |
|
Capital
protection Ratio |
Units |
0,90 |
0,91 |
0,92 |
0,63 |
|
Liabilities
consolidation quotient |
Units |
0,08 |
0,09 |
0,10 |
0,16 |
|
Financing |
Units |
4,66 |
4,41 |
6,37 |
5,11 |
|
Permanent
Indebtedness Ratio |
Units |
0,23 |
0,25 |
0,21 |
0,31 |
|
M/L term Debts
Ratio |
Units |
0,06 |
0,07 |
0,08 |
0,10 |
|
Net Financial
Indebtedness Ratio |
Units |
2,08 |
2,25 |
1,63 |
1,01 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets
ratio |
Units |
0,58 |
0,64 |
0,59 |
1,34 |
|
Current ratio |
Units |
0,78 |
0,81 |
0,81 |
1,09 |
|
Acid Test
Ratio-Liquidity Ratio |
Units |
0,57 |
0,52 |
0,44 |
0,85 |
|
Structure's
primary quotient |
Units |
0,43 |
0,46 |
0,37 |
0,75 |
|
Treasury's
primary quotient |
Units |
0,01 |
0,01 |
0,03 |
0,05 |
|
Rate of
indebtedness ( Leverage ) |
% |
586,49 |
561,60 |
756,06 |
660,68 |
|
Current Capital (
net ) |
Value |
-2.957.204 |
-2.108.105 |
-2.715.273 |
80.037 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,32 |
2,93 |
3,24 |
3,45 |
|
Return on Equity
- Net- ( R.O.E. ) |
% |
9,13 |
8,70 |
7,28 |
7,93 |
|
Return on Equity -
Gross - ( R.O.E. ) |
% |
18,19 |
14,71 |
16,31 |
23,28 |
|
Return on
Investment ( R.O.I. ) |
% |
5,26 |
4,93 |
3,50 |
4,91 |
|
Return/ Sales |
% |
6,30 |
3,90 |
4,24 |
4,60 |
|
Extra Management
revenues/charges incid. |
% |
29,61 |
31,42 |
27,52 |
26,08 |
|
Cash Flow |
Value |
620.491 |
554.542 |
491.916 |
67.440 |
|
Operating Profit |
Value |
904.432 |
737.412 |
643.565 |
88.577 |
|
Gross Operating
Margin |
Value |
1.257.154 |
1.060.285 |
958.360 |
150.352 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients
average term |
Days |
131,01 |
63,49 |
82,15 |
126,77 |
|
Debts to
suppliers average term |
Days |
196,24 |
120,43 |
151,05 |
141,48 |
|
Average stock
waiting period |
Days |
67,74 |
61,81 |
127,10 |
45,00 |
|
Rate of capital employed
return ( Turnover ) |
Units |
0,84 |
1,27 |
0,83 |
1,12 |
|
Rate of stock
return |
Units |
5,31 |
5,82 |
2,83 |
7,83 |
|
Labour cost
incidence |
% |
11,64 |
8,61 |
8,33 |
20,16 |
|
Net financial
revenues/ charges incidence |
% |
-2,58 |
-1,72 |
-1,62 |
-1,63 |
|
Labour cost on
purchasing expenses |
% |
12,90 |
9,82 |
8,35 |
20,64 |
|
Short-term
financing charges |
% |
2,72 |
2,79 |
1,61 |
2,63 |
|
Capital on hand |
% |
119,74 |
79,04 |
121,07 |
89,16 |
|
Sales pro
employee |
Value |
276.164 |
378.624 |
389.518 |
163.688 |
|
Labour cost pro
employee |
Value |
32.145 |
32.611 |
32.451 |
32.486 |
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 3.053 significant companies.
The companies cash
their credits on an average of 127 dd.
The average
duration of suppliers debts is about 141 dd.
The sector's
profitability is on an average of 3,45%.
The labour cost
affects the turnover in the measure of 20,16%.
Goods are held in
stock in a range of 45 dd.
The difference
between the sales volume and the resources used to realize it is about 1,12.
The employees costs
represent the 20,64% of the production costs.
Statistical Detrimental Data
Statistically the trade
activity shows periods of crisis.
The area is
statistically considered moderately risky.
In the region
50.886 protested subjects are found; in the province they count to 1.666.
The insolvency
index for the region is 0,55, , while for the province it is 0,52.
Total Bankrupt
companies in the province : 940.
Total Bankrupt
companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
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.