MIRA INFORM REPORT
|
Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
R.E.D. GRANITI S.P.A. |
|
|
|
|
Registered Office : |
Galleria san cario, 6 20122 – Milano (MI) – IT - |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
24.05.2000 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
91 to 110 |
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
|
R.e.d. Graniti S.p.a. |
|
Galleria |
San Carlo, |
6 |
|
20122 |
- Milano |
(MI) |
-IT- |
Summary
|
Fiscal Code |
: |
13161430155 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
24/05/2000 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 91 to 110 |
Activity
Cutting and carving of stone and marble
Wholesale of other building materials
Legal
Data
Legal Form : Joint stock company with sole shareholder
|
Fiscal Code : 13161430155 |
|
Foreign Trade Reg. no. : MI333779 since 24/06/2003 |
|
Chamber of Commerce no. : 64323 of Gorizia |
|
Chamber of Commerce no. : 1621130 of Milano since
05/07/2000 |
|
Chamber of Commerce no. : 106873 of Massa |
|
Chamber of Commerce no. : 98617 of Ragusa |
|
Chamber of Commerce no. : 327713 of Verona |
|
Firms' Register : MI-2000-168663 of Milano since
05/07/2000 |
|
V.A.T. Code : 13161430155 |
|
Establishment date |
: 24/05/2000 |
|
|
Start of Activities |
: 24/05/2000 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 10.010.000 |
|
|
Subscribed Capital |
: 10.010.000 |
|
|
Paid up Capital |
: 10.010.000 |
Members
|
|
Fingildo - Societa' A Responsabilita' Li |
mitata |
|
|
Residence: |
Dorsale |
, 12 |
- 54100 |
Massa |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
06/05/2004 |
|
|
Prejudicial Events found with cancellations* |
Judicial Mortgage - Mod.60 -
22/10/2010. Event writing-off
|
|
BANCA NAZIONALE DEL LAVORO SPA |
|
|
No Protests registered |
|
|
Conti |
Franca |
|
|
Born in Carrara |
(MS) |
on 21/04/1959 |
- Fiscal Code : CNTFNC59D61B832S |
|
|
Residence: |
Marco Polo |
, 32 |
- 54036 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/06/2013 |
||
|
Director |
28/06/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Conti |
Daniela |
|
|
Born in Carrara |
(MS) |
on 09/12/1955 |
- Fiscal Code : CNTDNL55T49B832V |
|
|
Residence: |
Della Perla |
, 28 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
|
|
Fingildo - Societa' A Responsabilita' Li |
mitata |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
Prejudicial Events found with cancellations* |
Judicial Mortgage - Mod.60 -
22/10/2010. Event writing-off
|
|
BANCA NAZIONALE DEL LAVORO SPA |
|
|
No Protests registered |
|
|
Ponzanelli |
Fabrizio |
|
|
Born in Carrara |
(MS) |
on 05/09/1957 |
- Fiscal Code : PNZFRZ57P05B832L |
|
|
Residence: |
Pascoli |
, 9 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
|
|
Bogazzi |
Enrico |
|
|
Born in Carrara |
(MS) |
on 30/07/1940 |
- Fiscal Code : BGZNRC40L30B832T |
|
|
Residence: |
Cairoli |
, 12 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
*Concerns also partially erased events.
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.
|
|
Conti |
Franca |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Fingildo - Societa' A Responsabilita' Limitata |
Massa (MS) - IT - |
01534120157 |
Managing Director |
Active |
Registered |
|
Fingildo - Societa' A Responsabilita' Limitata |
Massa (MS) - IT - |
01534120157 |
Director |
Active |
Registered |
|
R.e.d. Graniti - s.r.l. |
Massa (MS) - IT - |
00525290458 |
Managing Director |
Withdrawn |
In liquidation |
|
R.e.d. Graniti - s.r.l. |
Massa (MS) - IT - |
00525290458 |
Liquidator |
Withdrawn |
In liquidation |
|
Jvk S.r.l. |
Milano (MI) - IT - |
04032450969 |
Director |
Withdrawn |
Ceased |
|
Jvk S.r.l. |
Milano (MI) - IT - |
04032450969 |
Board Chairman |
Withdrawn |
Ceased |
|
Sami - S.p.a. |
Massa (MS) - IT - |
00184820454 |
Managing Director |
Withdrawn |
Ceased |
|
Sami - S.p.a. |
Massa (MS) - IT - |
00184820454 |
Director |
Withdrawn |
Ceased |
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 |
|
Fingildo - Societa' A Responsabilita' Li mitata |
Massa - IT - |
01534120157 |
100,00 |
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 |
|
Jvk S.r.l. |
Milano - IT - |
04032450969 |
2.500.000 .Eur |
50,00 |
Ceased |
Firm's
location and structure
In order to carry out its activities the firm uses the
following locations:
|
- |
Legal and operative seat |
|
San Carlo |
, 6 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 058588471 |
|
FAX |
: 0585884848 |
|
- |
Secondary office |
|
Dorsale |
- 54100 |
- Massa |
(MS) |
- IT - |
|
PHONE |
: 058588471 |
|
FAX |
: 0585884848 |
|
- |
Branch |
(Warehouse) |
since 09/06/2003 |
|
Fontana |
, 273 |
- 37020 |
- Dolce' |
(VR) |
- IT - |
|
Employees |
: 101 |
|
Fittings and Equipment for a value of 420.000 |
Eur |
|
Stocks for a value of 66.660.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Petricioli |
Emanuela |
|
|
Born in Carrara |
(MS) |
on 23/09/1975 |
- Fiscal Code : PTRMNL75P63B832J |
|
|
Residence: |
Calcinara |
, 10 |
- 54010 |
Podenzana |
(MS) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
De Francesco |
Diego |
|
|
Born in Napoli |
(NA) |
on 11/06/1968 |
- Fiscal Code : DFRDGI68H11F839F |
|
|
Residence: |
San Carlo |
, 6 |
- 20122 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Bonissoni |
Angelo Rocco |
|
|
Born in Bollate |
(MI) |
on 13/04/1959 |
- Fiscal Code : BNSNLR59D13A940S |
|
|
Residence: |
Majno |
, 17 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Brustia |
Roberto |
|
|
Born in Novara |
(NO) |
on 17/06/1956 |
- Fiscal Code : BRSRRT56H17F952H |
|
|
Residence: |
Majno |
, 17 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
|
|
|
DORSALE |
, 12 |
, 54100 |
, MASSA |
(MS) |
- IT - |
|
|
Fiscal Code: 00713860450 |
|
|
Date |
Merging/splitting-up project: |
05/08/2009 |
|
|
The firm absorbed by merging of |
|
|
|
|
DORSALE |
, 12 |
, 54100 |
, MASSA |
(MS) |
- IT - |
|
|
Fiscal Code: 00713860450 |
|
|
Date |
: |
30/12/2009 |
|
|
The firm took over the activity of |
|
|
|
|
Dorsale |
, 12 |
, 54100 |
, Massa |
(MS) |
- IT - |
|
|
Fiscal Code: 00525290458 |
|
|
Date |
: |
21/12/2000 |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA INTESA S.P.A. |
Financial
and Economical Analysis
Company's starting of activities dates back to 2000.
The eonomic-financial analysis is based on the latest 3 b/s.
Under an economic point of view, profits were registered
during the last years with a r.o.e. of 1,74% in 2013 with an increase in 2013
(+9,94%).
The operating result was positive in the last financial year
(3,86%) falling within the field's average.
The amount of the operating result is equal to Eur.
7.774.207 showing an upward trend 49,67% compared to the previous financial
year.
During the latest financial year the gross operating margin
amounted to Eur. 8.217.758 showing a 23,53% growth.
The company has an excellent net worth if compared to its
debts, with a low indebtedness (0,68) and with an upward trend compared to the
previous year.
With regard to equity capital, an amount of Eur. 61.495.428
is registered. , increasing by 21,71% if compared to the financial year 2012.
During the last financial year total debts volume reached
Eur. 135.623.425 (Eur. 91.849.015 were m/l term ones) showing a stable trend as
opposed to 2012 (Eur. 146.994.749).
Bank borrowings' volume is slightly high but the recourse to
suppliers' credit is modest below the sector's average.
Payments are supported by good current assets.
As to due from customers, the average terms are 55,08 days.
, lower than the sector's average.
As far as the cash flow is concerned during the latest
financial year it amounted to Eur. 1.515.556
Subordinate employment cost is of Eur. 3.233.899, i.e. 4,81%
on total production costs. , whereas the incidence of such costs on sales
revenues is equal to 4,38%.
High incidence of financial charges on turnover.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.811.312 |
|
Profit (Loss) for the period |
1.072.005 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
67.134.344 |
|
Profit (Loss) for the period |
784.947 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.231.382 |
|
Profit (Loss) for the period |
774.632 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
74.332.518 |
|
Profit (Loss) for the period |
563.326 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
63.168.476 |
|
Profit (Loss) for the period |
-2.543.054 |
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 |
0,54 |
0,53 |
0,44 |
0,29 |
|
Elasticity Ratio |
Units |
0,46 |
0,47 |
0,56 |
0,69 |
|
Availability of stock |
Units |
0,33 |
0,34 |
0,42 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,13 |
0,14 |
0,14 |
0,41 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,01 |
0,01 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,68 |
1,00 |
0,68 |
1,78 |
|
Self Financing Ratio |
Units |
0,31 |
0,25 |
0,29 |
0,27 |
|
Capital protection Ratio |
Units |
0,82 |
0,79 |
0,78 |
0,69 |
|
Liabilities consolidation quotient |
Units |
2,13 |
1,90 |
2,55 |
0,23 |
|
Financing |
Units |
2,21 |
2,91 |
2,47 |
2,41 |
|
Permanent Indebtedness Ratio |
Units |
0,77 |
0,74 |
0,80 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,46 |
0,48 |
0,51 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
2,04 |
2,75 |
2,30 |
0,98 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,43 |
1,40 |
1,80 |
1,51 |
|
Current ratio |
Units |
2,14 |
1,85 |
2,79 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,61 |
0,53 |
0,69 |
0,75 |
|
Structure's primary quotient |
Units |
0,57 |
0,48 |
0,65 |
0,83 |
|
Treasury's primary quotient |
Units |
0,04 |
0,02 |
0,03 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
327,82 |
396,79 |
350,39 |
366,48 |
|
Current Capital ( net ) |
Value |
49.690.399 |
43.704.564 |
62.445.766 |
233.017 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,05 |
1,85 |
4,26 |
3,37 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,74 |
1,55 |
1,56 |
3,34 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
3,78 |
3,76 |
3,01 |
11,22 |
|
Return on Investment ( R.O.I. ) |
% |
3,86 |
2,59 |
2,53 |
4,00 |
|
Return/ Sales |
% |
10,53 |
7,74 |
6,03 |
4,88 |
|
Extra Management revenues/charges incid. |
% |
13,79 |
15,11 |
17,55 |
19,82 |
|
Cash Flow |
Value |
1.515.556 |
1.242.900 |
3.122.435 |
65.183 |
|
Operating Profit |
Value |
7.774.207 |
5.193.999 |
4.414.226 |
108.595 |
|
Gross Operating Margin |
Value |
8.217.758 |
6.651.952 |
6.773.820 |
167.146 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
55,08 |
67,67 |
55,95 |
131,41 |
|
Debts to suppliers average term |
Days |
28,15 |
20,90 |
30,79 |
111,40 |
|
Average stock waiting period |
Days |
325,14 |
362,80 |
360,84 |
96,30 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,37 |
0,33 |
0,42 |
0,84 |
|
Rate of stock return |
Units |
1,11 |
0,99 |
1,00 |
3,72 |
|
Labour cost incidence |
% |
4,38 |
4,90 |
4,13 |
14,94 |
|
Net financial revenues/ charges incidence |
% |
-3,77 |
-4,80 |
-3,79 |
-2,29 |
|
Labour cost on purchasing expenses |
% |
4,81 |
5,22 |
4,35 |
14,35 |
|
Short-term financing charges |
% |
3,80 |
2,50 |
2,46 |
3,61 |
|
Capital on hand |
% |
273,12 |
298,62 |
237,99 |
118,11 |
|
Sales pro employee |
Value |
730.805 |
658.179 |
779.057 |
209.056 |
|
Labour cost pro employee |
Value |
32.018 |
32.251 |
32.202 |
33.287 |
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 |
: |
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Sector
Data
The values are calculated on a base of 588 significant companies.
The companies cash their credits on an average of 131 dd.
The average duration of suppliers debts is about 111 dd.
The sector's profitability is on an average of 3,37%.
The labour cost affects the turnover in the measure of
14,94%.
Goods are held in stock in a range of 96 dd.
The difference between the sales volume and the resources
used to realize it is about 0,84.
The employees costs represent the 14,35% 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.61.30 |
|
|
1 |
Rs.99.16 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.