MIRA INFORM REPORT
|
Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
VI.BE.MAC. S.P.A. |
|
|
|
|
Registered Office : |
Via Monte Pastello, 7/I 37057 - San Giovanni Lupatoto (VR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
13.10.1982 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Wholesale of machinery for the textile industry and sewing and knit
ing machines |
|
|
|
|
No. of Employees : |
from 36 to 50 |
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
VI.BE.MAC. S.P.A.
Via Monte Pastello, 7/I
37057 - San
Giovanni Lupatoto (VR) -IT-
Summary
|
Fiscal Code |
: |
01264050236 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
13/10/1982 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
from 36 to 50 |
|
n.b.: The Creditworthness Rate shows, in percentage, the ratio between
the suggested credit opinion and the credit amount that the firm could get if
the financial situation would be completely positive. |
Activity
Wholesale of machinery for the textile industry and sewing and knit ing
machines
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 01264050236 |
|
Foreign Trade Reg. no. : 012074 of Verona since 17/12/1991 |
|
Chamber of Commerce no. : 170441 of Verona since 14/10/1980 |
|
Firms' Register : VR091-13323 of Verona since 19/02/1996 |
|
V.A.T. Code : 01264050236 |
|
R. E. C. no. : 32130 of Verona since 17/12/1980 |
|
Establishment date |
: 26/09/1980 |
|
|
Start of Activities |
: 13/10/1982 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.000.000 |
|
|
Subscribed Capital |
: 2.000.000 |
|
|
Paid up Capital |
: 2.000.000 |
Members
|
|
Vinco |
Giovanna |
|
|
Born in Grezzana |
(VR) |
on 05/04/1947 |
- Fiscal Code : VNCGNN47D45E171O |
|
|
Residence: |
Campanile Vecchio |
, 14 |
- 37100 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2012 |
||
|
Board Chairman |
27/04/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Guerreschi |
Carlo |
|
|
Born in Nogara |
(VR) |
on 20/02/1943 |
- Fiscal Code : GRRCRL43B20F918S |
|
|
Residence: |
Campanile Vecchio |
, 14 |
- 37100 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2012 |
|
|
Guerreschi |
Elena |
|
|
Born in Verona |
(VR) |
on 09/02/1971 |
- Fiscal Code : GRRLNE71B49L781Y |
|
|
Residence: |
Campanile Vecchio |
, 13 |
- 37135 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2012 |
|
|
Guerreschi |
Enrico |
|
|
Born in Verona |
(VR) |
on 17/10/1974 |
- Fiscal Code : GRRNRC74R17L781Q |
|
|
Residence: |
Porto |
, 8 |
- 37057 |
San Giovanni Lupatoto |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2012 |
|
|
Guerreschi |
Alberto |
|
|
Born in Verona |
(VR) |
on 25/01/1976 |
- Fiscal Code : GRRLRT76A25L781X |
|
|
Residence: |
Porto |
, 8 |
- 37057 |
San Giovanni Lupatoto |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/04/2012 |
||
|
Managing Director |
27/04/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Finver S.p.a. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
Prejudicial Events found with cancellations* |
Legal Mortgage - 27/10/2008. - 88.784 Euro.
Event writing-off
|
|
RISCOSSIONE UNO SPA ( ORA EQUITALIA SPA) |
|
|
No Protests registered |
*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.
|
|
Vinco |
Giovanna |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Finver S.p.a. |
San Giovanni Lupatoto (VR) - IT - |
02227210230 |
Director |
Active |
Registered |
|
Vinco Giovanna |
Verona (VR) - IT - |
VNCGNN47D45E171O |
Proprietor |
Active |
Registered |
|
|
Guerreschi |
Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Vinco S.r.l. |
San Giovanni Lupatoto (VR) - IT - |
03831310234 |
Sole 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 |
|
Vinco Giovanna |
Verona - IT - |
VNCGNN47D45E171O |
200.000 .Eur |
10,00 |
|
Guerreschi Carlo |
Verona - IT - |
GRRCRL43B20F918S |
200.000 .Eur |
10,00 |
|
Guerreschi Elena |
Verona - IT - |
GRRLNE71B49L781Y |
200.000 .Eur |
10,00 |
|
Guerreschi Enrico |
San Giovanni Lupatoto - IT - |
GRRNRC74R17L781Q |
200.000 .Eur |
10,00 |
|
Guerreschi Alberto |
San Giovanni Lupatoto - IT - |
GRRLRT76A25L781X |
200.000 .Eur |
10,00 |
|
Finver S.p.a. |
02227210230 |
1.000.000 .Eur |
50,00 |
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 |
|
Consorzio Della Moda |
Mozzecane - IT - |
03081990230 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Monte Pastello |
, 7/I |
- 37057 |
- San Giovanni Lupatoto |
(VR) |
- IT - |
|
Total Surface: 154 Sq.mt. |
|
PHONE |
: 0458778151 |
|
FAX |
: 0458779024 |
|
Employees |
: 48 |
|
Fittings and Equipment for a value of 140.000 |
Eur |
|
Stocks for a value of 3.940.000 |
Eur |
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- Italy |
Export is mainly towards:
|
- Italy |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
03/12/1984 |
|
Limited liability company |
Joint stock company |
29/05/1997 |
EX-MEMBERS / EX-POSITIONS:
|
|
Rigato |
Elio |
|
|
Born in Casalserugo |
(PD) |
on 03/02/1938 |
- Fiscal Code : RGTLEI38B03B912C |
|
|
Residence: |
Tommaseo |
, 13 |
- 35100 |
Padova |
(PD) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Morandin |
Severino |
|
|
Born in Padova |
(PD) |
on 21/03/1934 |
- Fiscal Code : MRNSRN34C21G224E |
|
|
Residence: |
Sandri |
, 3 |
- 37100 |
Verona |
(VR) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Morandin |
Giorgio |
|
|
Born in Verona |
(VR) |
on 01/03/1971 |
- Fiscal Code : MRNGRG71C01L781E |
|
|
Residence: |
Bruno Pasini |
, 3 |
- 37057 |
San Giovanni Lupatoto |
(VR) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Marcazzan |
Luca |
|
|
Born in Padova |
(PD) |
on 18/02/1970 |
- Fiscal Code : MRCLCU70B18G224F |
|
|
Residence: |
F. Beltrame |
, 9 |
- 35138 |
Padova |
(PD) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Rigato |
Luca |
|
|
Born in Padova |
(PD) |
on 30/06/1973 |
- Fiscal Code : RGTLCU73H30G224X |
|
|
Residence: |
Tommaseo |
, 13 |
- 35131 |
Padova |
(PD) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Bonetti |
Stefano |
|
|
Born in Verona |
(VR) |
on 18/02/1967 |
- Fiscal Code : BNTSFN67B18L781T |
|
|
Residence: |
Bernardo De Canal |
, 4 |
- 37100 |
Verona |
(VR) |
- 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 1982
The analysis is based on the latest 3 balance sheets.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 34,08% in 2013 thanks to a progressive increase in
turnover (+22,3% in 2013 compared to 2012 and +10,97% in 2012 compared to
2011).
The operating result was positive in the last financial year (29,96%)
and higler than the field average.
The amount of the operating result for the year 2013 is of Eur.
3.548.283 with an increase of 39,47% if the compared to the previous financial
year.
The economic management produced a gross operating margin of Eur.
3.709.681 showing an upward trend if compared to 2012.
Excellent equity structure since liquidity is higher than short term
liabilities.
With regard to equity capital, an amount of Eur. 7.056.056 is
registered. , increasing by 24,85% if compared to the year before.
Total indebtedness amounts to Eur. 3.877.479, , with no sensible
variation.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high but lined up with the field's average.
Liquidity is good (2,95)
Accounts receivable average term is 72,97 days. , a better value than
the sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 2.566.074
During 2013 financial year labour costs amounted to Eur. 1.964.455, with
a 16,65% incidence on production costs. , whereas the incidence of such costs
on sales revenues is equal to 13,87%.
The financial charges are lower than the financial incomes.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.167.688 |
|
Profit (Loss) for the period |
2.404.676 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.583.943 |
|
Profit (Loss) for the period |
1.844.485 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.438.070 |
|
Profit (Loss) for the period |
501.142 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.754.870 |
|
Profit (Loss) for the period |
1.205.445 |
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 |
0,03 |
0,03 |
0,03 |
0,10 |
|
Elasticity Ratio |
Units |
0,97 |
0,97 |
0,97 |
0,87 |
|
Availability of stock |
Units |
0,33 |
0,29 |
0,31 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,63 |
0,68 |
0,66 |
0,61 |
|
Quick Ratio |
Units |
0,37 |
0,41 |
0,31 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
0,20 |
4,04 |
|
Self Financing Ratio |
Units |
0,60 |
0,57 |
0,42 |
0,16 |
|
Capital protection Ratio |
Units |
0,38 |
0,32 |
0,34 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,13 |
0,27 |
0,29 |
0,11 |
|
Financing |
Units |
0,55 |
0,60 |
1,08 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,64 |
0,65 |
0,54 |
0,26 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,08 |
0,11 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
23,06 |
25,72 |
20,45 |
2,12 |
|
Current ratio |
Units |
2,95 |
3,16 |
2,46 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,94 |
2,21 |
1,66 |
0,88 |
|
Structure's primary quotient |
Units |
21,55 |
22,46 |
16,08 |
1,40 |
|
Treasury's primary quotient |
Units |
1,13 |
1,33 |
0,78 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
167,85 |
175,49 |
237,55 |
620,22 |
|
Current Capital ( net ) |
Value |
7.575.644 |
6.592.224 |
5.201.941 |
131.414 |
|
RETURN |
|||||
|
Return on Sales |
% |
18,11 |
17,09 |
6,50 |
2,27 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
34,08 |
32,64 |
13,16 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
51,01 |
48,43 |
23,74 |
18,85 |
|
Return on Investment ( R.O.I. ) |
% |
29,96 |
25,65 |
9,54 |
4,76 |
|
Return/ Sales |
% |
25,04 |
21,96 |
8,26 |
3,70 |
|
Extra Management revenues/charges incid. |
% |
67,77 |
72,50 |
58,10 |
28,15 |
|
Cash Flow |
Value |
2.566.074 |
1.980.026 |
678.646 |
39.655 |
|
Operating Profit |
Value |
3.548.283 |
2.543.967 |
862.559 |
63.123 |
|
Gross Operating Margin |
Value |
3.709.681 |
2.679.508 |
1.040.063 |
99.042 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
72,97 |
79,03 |
94,78 |
119,16 |
|
Debts to suppliers average term |
Days |
95,61 |
96,75 |
84,33 |
116,83 |
|
Average stock waiting period |
Days |
100,12 |
90,03 |
97,71 |
58,39 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,20 |
1,17 |
1,15 |
1,36 |
|
Rate of stock return |
Units |
3,60 |
4,00 |
3,68 |
6,14 |
|
Labour cost incidence |
% |
13,87 |
15,52 |
17,36 |
8,98 |
|
Net financial revenues/ charges incidence |
% |
0,29 |
0,32 |
0,44 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
16,65 |
19,61 |
18,77 |
8,98 |
|
Short-term financing charges |
% |
0,92 |
1,44 |
0,62 |
2,60 |
|
Capital on hand |
% |
83,60 |
85,61 |
86,64 |
73,17 |
|
Sales pro employee |
Value |
232.257 |
206.856 |
186.394 |
394.001 |
|
Labour cost pro employee |
Value |
32.204 |
32.097 |
32.365 |
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 |
: |
|
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 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 13.782 protested subjects are found; in the province they
count to 2.673.
The insolvency index for the region is 0,30, , while for the province it
is 0,31.
Total Bankrupt companies in the province : 2.982.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.21 |
|
Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.