|
Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LUNA ABRASIVI
SRL |
|
|
|
|
Registered Office : |
Via Pratolino, SNC Localita' Boettola, 19020 - Vezzano Ligure (SP) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.08.1997 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Production of abrasive products |
|
|
|
|
No of Employees : |
From 51 to 70 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
|
LUNA ABRASIVI SRL |
|
Via Pratolino, SNC LOCALITA' BOETTOLA |
|
19020 - Vezzano Ligure (SP) -IT- |
|
Fiscal Code |
: |
00314020116 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
29/08/1997 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
15.500.000/18.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Production of abrasive products
Legal Form : Limited liability company
|
Fiscal Code : 00314020116 |
|
Foreign Trade Reg. no. : SP003757 since 18/09/1997 |
|
Chamber of Commerce no. : 392402 of Modena |
|
Chamber of Commerce no. : 252328 of Reggio Emilia |
|
Chamber of Commerce no. : 95916 of La Spezia since 15/09/1997 |
|
Firms' Register : SP-1997-29731 of La Spezia since 15/09/1997 |
|
V.A.T. Code : 00314020116 |
|
Foundation date |
: 22/08/1997 |
|
|
Establishment date |
: 22/08/1997 |
|
|
Start of Activities |
: 29/08/1997 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 91.000 |
|
|
Subscribed Capital |
: 91.000 |
|
|
Paid up Capital |
: 91.000 |
|
|
|
Papini |
Sergio |
|
|
|
Born in Castelnuovo Magra |
(SP) |
on 29/03/1954 |
- Fiscal Code : PPNSRG54C29M059Y |
|
|
|
Residence: |
|
Molino Del Piano |
, 67 |
- 19030 |
Castelnuovo Magra |
(SP) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/08/1997 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Papini |
Sergio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
LUNA ABRASIV DI PAPINI SERGIO eamp; LA PORTACOSTANTINO - S.N.C. |
Ortonovo (SP) - IT - |
00703100115 |
Partner |
Withdrawn |
Merged |
|
LUNA ABRASIV DI PAPINI SERGIO eamp; LA PORTACOSTANTINO - S.N.C. |
Ortonovo (SP) - IT - |
00703100115 |
Partner |
Withdrawn |
Merged |
|
Luna Diamond S.R.L. |
Sarzana (SP) - IT - |
00958500118 |
Chairman |
Withdrawn |
Merged |
|
Immobiliare Luna Srl |
Vezzano Ligure (SP) - IT - |
01040090118 |
Director |
Active |
Registered |
|
Immobiliare Luna Srl |
Vezzano Ligure (SP) - IT - |
01040090118 |
Director |
Withdrawn |
Registered |
|
LUNA INV - S.R.L. |
Sarzana (SP) - IT - |
00916180110 |
Chairman |
Withdrawn |
Registered |
|
Italian Rodinetti Horse Jumping S.r.l. Siglabile I.r.h.j. S.r.l. |
Genova (GE) - IT - |
01575460991 |
Director |
Withdrawn |
Registered |
|
Italian Rodinetti Horse Jumping S.r.l. Siglabile I.r.h.j. S.r.l. |
Genova (GE) - IT - |
01575460991 |
Liquidator |
Active |
Registered |
|
Italian Rodinetti Horse Jumping S.r.l. Siglabile I.r.h.j. S.r.l. |
Genova (GE) - IT - |
01575460991 |
Board Chairman |
Withdrawn |
Registered |
|
Promessa Immobiliare S.r.l. |
Genova (GE) - IT - |
01662790995 |
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.
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Papini Sergio |
Castelnuovo Magra - IT - |
PPNSRG54C29M059Y |
72.800 .Eur |
80,00 |
|
Madrignani Paola |
Castelnuovo Magra - IT - |
MDRPLA56T59G143U |
18.200 .Eur |
20,00 |
The Company under review has no
participations in other Companies.
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Pratolino |
, SNC |
- 19020 |
- Vezzano Ligure |
(SP) |
- IT - |
|
- |
Branch |
(Store) |
since 29/08/1997 |
|
|
|
|
|
|
Privata Pratorlino |
- 19020 |
- Vezzano Ligure |
(SP) |
- IT - |
|
|
|
|
PHONE |
: 0187997506 |
|
- |
Branch |
(Warehouse) |
since 01/01/2013 |
|
|
|
|
|
|
Atene |
, 13/2 |
- 41049 |
- Sassuolo |
(MO) |
- IT - |
|
|
|
|
Employees |
: 52 |
|
|
|
|
Assistants |
: 2 |
|
Fittings and Equipment for a value of 2.190.000 |
Eur |
|
Stocks for a value of 2.180.000 |
Eur |
|
|
EX-MEMBERS / EX-POSITIONS:
|
|
La Porta |
Costantino |
|
|
|
Born in Germania |
( ) |
on 30/10/1953 |
- Fiscal Code : LPRCTN53R30Z112L |
|
|
|
Residence: |
|
Bracioli |
, 15 |
- 19034 |
Ortonovo |
(SP) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Caleo |
Lorenzo |
|
|
|
Born in La Spezia |
(SP) |
on 16/02/1964 |
- Fiscal Code : CLALNZ64B16E463E |
|
|
|
Residence: |
|
Ratti |
, 47 |
- 19031 |
Ameglia |
(SP) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Cerri |
Paolo |
|
|
|
Born in Sarzana |
(SP) |
on 30/03/1960 |
- Fiscal Code : CRRPLA60C30I449L |
|
|
|
Residence: |
|
Pietro Gori |
, 7 |
- 19038 |
Sarzana |
(SP) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Tedoldi |
Franco |
|
|
|
Born in La Spezia |
(SP) |
on 19/08/1948 |
- Fiscal Code : TDLFNC48M19E463B |
|
|
|
Residence: |
|
Benedetto Della Torre |
, 31 |
- 19100 |
La Spezia |
(SP) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
Permanent Auditor |
|
|
Guastini |
Luigi |
|
|
|
Born in La Spezia |
(SP) |
on 28/04/1951 |
- Fiscal Code : GSTLGU51D28E463F |
|
|
|
Residence: |
|
Matteotti |
, 35 |
- 19038 |
Sarzana |
(SP) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Zucchini |
Franco |
|
|
|
Born in Sarzana |
(SP) |
on 27/04/1948 |
- Fiscal Code : ZCCFNC48D27I449M |
|
|
|
Residence: |
|
Turi ' |
, 36 |
- 19038 |
Sarzana |
(SP) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorbed by merging of |
|
|
|
Luna Diamond
S.R.L. |
|
|
|
|
Bertoloni |
, 47 |
, 19038 |
, Sarzana |
(SP) |
- IT - |
|
|
|
Fiscal Code: 00958500118 |
|
|
|
Date |
: |
15/09/1997 |
|
|
The firm absorbed by merging of |
|
|
|
LUNA ABRASIV DI
PAPINI SERGIO eamp; LA PORTACOSTANTINO - S.N.C. |
|
|
|
|
Dei Laghi |
, 16 |
, 19034 |
, Ortonovo |
(SP) |
- IT - |
|
|
|
Fiscal Code: 00703100115 |
|
|
|
Date |
: |
22/08/1997 |
Protests checking on the subject firm has
given a negative result.
Search performed on a National Scale
|
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest
received edition of the Official Publications.
Subject is active since 1997
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 3,97% in 2012 with a
remarkable upward trend (+14,82% on 2012 compared to 2011 and +26,53% on 2011
compared to 2010).
The operating result was positive in the
last financial year (4,3%) falling within the field's average.
The amount of the operating result is equal
to Eur. 675.172 with a 47,67% growth.
The economic management produced a gross
operating margin of Eur. 1.145.306 showing an upward trend if compared to 2011.
Company's financial status is balanced since
indebtedness is not high (1,06) and decreasing as against 2011.
With regard to equity capital, an amount of
Eur. 5.258.091 is registered. , unchanged as opposed to the preceding year.
During the last financial year total debts
volume reached Eur. 8.813.243 (Eur. 1.626.201 were m/l term ones) with no
important change.
Moderate recourse to bank credit while the exposure
towards suppliers is rather high however still within the sector's average.
The available funds are good.
Trade credits are collected slowly, average
term is 177,37 days. besides being higher than the sector's average.
During financial year 2012 the cash flow
amounted to Eur. 678.956
Labour cost amounts to Eur. 2.827.218, with
a 16,55% incidence on production costs. , whereas 16,19% is the incidence on
sales revenues.
If compared to the sales volume (-1,29%),
the impact of the financial charges is limited.
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.457.549 |
|
Profit (Loss) for the period |
208.822 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.203.429 |
|
Profit (Loss) for the period |
130.661 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.014.848 |
|
Profit (Loss) for the period |
48.910 |
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2012 |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,20 |
0,17 |
0,09 |
0,25 |
|
Elasticity Ratio |
Units |
0,80 |
0,82 |
0,90 |
0,72 |
|
Availability of stock |
Units |
0,14 |
0,17 |
0,22 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,66 |
0,66 |
0,69 |
0,52 |
|
Quick Ratio |
Units |
0,10 |
0,07 |
0,09 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,06 |
1,33 |
1,00 |
2,14 |
|
Self Financing Ratio |
Units |
0,33 |
0,35 |
0,40 |
0,24 |
|
Capital protection Ratio |
Units |
0,94 |
0,96 |
0,97 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,31 |
0,07 |
0,09 |
0,19 |
|
Financing |
Units |
1,68 |
1,54 |
1,22 |
2,88 |
|
Permanent Indebtedness Ratio |
Units |
0,48 |
0,39 |
0,44 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,14 |
0,04 |
0,04 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,43 |
0,42 |
0,19 |
0,85 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,43 |
2,25 |
4,72 |
1,37 |
|
Current ratio |
Units |
1,75 |
1,53 |
1,85 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,44 |
1,22 |
1,41 |
0,83 |
|
Structure's primary quotient |
Units |
1,70 |
2,05 |
4,28 |
1,00 |
|
Treasury's primary quotient |
Units |
0,23 |
0,13 |
0,18 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
298,66 |
285,43 |
251,31 |
414,11 |
|
Current Capital ( net ) |
Value |
5.362.203 |
4.118.638 |
5.125.305 |
371.408 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
3,89 |
3,47 |
3,29 |
3,75 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
3,97 |
2,59 |
0,99 |
6,64 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
8,54 |
6,91 |
4,17 |
13,86 |
|
Return on Investment ( R.O.I. ) |
% |
4,30 |
3,17 |
2,31 |
4,28 |
|
Return/ Sales |
% |
3,87 |
3,01 |
2,38 |
3,86 |
|
Extra Management revenues/charges incid. |
% |
30,93 |
28,58 |
17,12 |
29,40 |
|
Cash Flow |
Value |
678.956 |
527.836 |
395.165 |
109.780 |
|
Operating Profit |
Value |
675.172 |
457.205 |
285.761 |
124.512 |
|
Gross Operating Margin |
Value |
1.145.306 |
854.380 |
632.016 |
223.896 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
177,37 |
196,20 |
217,80 |
127,69 |
|
Debts to suppliers average term |
Days |
128,81 |
133,49 |
144,21 |
125,84 |
|
Average stock waiting period |
Days |
44,88 |
57,05 |
79,97 |
58,52 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,11 |
1,05 |
0,97 |
1,12 |
|
Rate of stock return |
Units |
8,02 |
6,31 |
4,50 |
6,15 |
|
Labour cost incidence |
% |
16,19 |
18,68 |
20,80 |
17,01 |
|
Net financial revenues/ charges incidence |
% |
-1,29 |
-0,71 |
-0,67 |
-1,30 |
|
Labour cost on purchasing expenses |
% |
16,55 |
18,98 |
21,12 |
17,33 |
|
Short-term financing charges |
% |
2,62 |
1,44 |
1,35 |
2,67 |
|
Capital on hand |
% |
89,95 |
94,79 |
102,88 |
88,59 |
|
Sales pro employee |
Value |
198.381 |
172.766 |
154.036 |
216.094 |
|
Labour cost pro employee |
Value |
32.127 |
32.275 |
32.043 |
33.994 |
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.
|
Population living in the province |
: |
219.366 |
|
Population living in the region |
: |
1.592.309 |
|
Number of families in the region |
: |
754.141 |
Monthly family expences average in the
region (in Eur..) :
|
- per food products |
: |
463 |
|
- per non food products |
: |
1.607 |
|
- per energy consume |
: |
94 |
The values are calculated on a base of 99
significant companies.
The companies cash their credits on an
average of 128 dd.
The average duration of suppliers debts is
about 126 dd.
The sector's profitability is on an average
of 3,75%.
The labour cost affects the turnover in the
measure of 17,01%.
Goods are held in stock in a range of 59 dd.
The difference between the sales volume and
the resources used to realize it is about 1,12.
The employees costs represent the 17,33% of
the production costs.
Statistcally the trade activity shows
periods of crisis.
The area is statistically considered
moderately risky.
In the region 7.546 protested subjects are
found; in the province they count to 989.
The insolvency index for the region is 0,48,
, while for the province it is 0,45.
Total Bankrupt companies in the province :
1.227.
Total Bankrupt companies in the region :
7.305.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.47 |
|
UK Pound |
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.79.40 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.