MIRA
INFORM REPORT
|
Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
GIELLEPI S.P.A. |
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|
|
Registered Office : |
Via Mascheroni Lorenzo, 4 20123- Milano
(MI) -IT- |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
22.03.2011 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Wholesale of chemical products |
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No. of Employees |
fom 6 to 10 |
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 |
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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) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
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
GIELLEPI S.P.A.
Via Mascheroni Lorenzo, 4
20123- Milano (MI)
-IT-
Summary
|
Fiscal Code |
: |
07384370966 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
22/03/2011 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
fom 6 to 10 |
|
|
|
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 chemical products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 07384370966 |
|
Chamber of Commerce no. : 1877072 of Monza e Brianza |
|
Chamber of Commerce no. : 1955051 of Milano since 24/03/2011 |
|
V.A.T. Code : 07384370966 |
|
Establishment date |
: 22/03/2011 |
|
|
Start of Activities |
: 22/03/2011 |
|
|
Legal duration |
: 31/12/2050 |
|
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Nominal Capital |
: 200.000 |
|
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Subscribed Capital |
: 200.000 |
|
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Paid up Capital |
: 200.000 |
|
Members
|
|
Terruzzi |
Carlo |
|
|
|
Born in Briosco |
(MB) |
on 31/01/1955 |
- Fiscal Code : TRRCRL55A31B187E |
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|
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Residence: |
|
Roma |
, 56 |
- 22030 |
Caglio |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/04/2014 |
|
|
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Board Chairman |
22/04/2014 |
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|
|
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No Prejudicial events are reported |
|
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No Protests registered |
|
|
Terruzzi |
Alessia |
|
|
|
Born in Carate Brianza |
(MB) |
on 10/05/1989 |
- Fiscal Code : TRRLSS89E50B729I |
|
|
|
Residence: |
|
Meyer |
, 11 |
- 20836 |
Briosco |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
22/04/2014 |
|
|
|
|
3t Group S.r.l. |
|
|
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
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|
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No Prejudicial events are reported |
|
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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.
|
|
Terruzzi |
Carlo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Giellepi Chemicals S.p.A. |
Milano (MI) - IT - |
09621890152 |
Director |
- |
Ceased |
|
Giellepi Chemicals S.p.A. |
Milano (MI) - IT - |
09621890152 |
Board Chairman |
- |
Ceased |
|
Nipos S.r.l. |
Milano (MI) - IT - |
13193660159 |
Procurator |
Active |
Registered |
|
3t Group S.r.l. |
Milano (MI) - IT - |
07017010963 |
Sole Director |
Active |
Registered |
|
Ca.vi.t. Immobiliare S.r.l. |
Monza (MB) - IT - |
04385820966 |
Sole Director |
Active |
Registered |
|
Bioforlife Italia S.r.l. |
Milano (MI) - IT - |
06980700964 |
Attorney with special power |
Withdrawn |
Registered |
|
Bioinvest S.r.l. |
Milano (MI) - IT - |
07066420964 |
Sole Director |
Withdrawn |
Registered |
|
Harmonikos Sport Nutrition S.r.l. |
Milano (MI) - IT - |
07885660964 |
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 |
|
Terruzzi Carlo |
Caglio - IT - |
TRRCRL55A31B187E |
40.000 .Eur |
20,00 |
|
Terruzzi Fabio Pietro |
|
TRRFPT84E22B729Q |
35.000 .Eur |
17,50 |
|
Terruzzi Alessia |
Briosco - IT - |
TRRLSS89E50B729I |
35.000 .Eur |
17,50 |
|
3t Group S.r.l. |
|
07017010963 |
90.000 .Eur |
45,00 |
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 |
|
|
|
|
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Mascheroni Lorenzo |
, 4 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
|
since 22/03/2011 |
|
|
|
|
|
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Verdi |
, 41 |
- 20038 |
- Seregno |
(MB) |
- IT - |
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Employees |
: 6 |
|
Stocks for a value of 1.180.000 |
Eur |
|
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Historical Information and/or
Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Terruzzi |
Fabio Pietro |
|
|
|
Born in Carate Brianza |
(MB) |
on 22/05/1984 |
- Fiscal Code : TRRFPT84E22B729Q |
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Ex-Postions |
|
Director |
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 has been active for some years.
The economic-financial analysis has been made on the base of the latest
2 balance sheets.
During the last years, it achieved profits (r.o.e. 78,4% on 2012) and
with an upward trend in turnover trend during the last financial year (+29% in
2012).
The operating result was positive in the last financial year (31,03%)
and higler than the field average.
The amount of the operating result is equal to Eur. 1.665.318 rising
(+32,94%) in relation to the previous year.
A gross operating margine for a value of Eur. 1.743.436 was reached.
with a 37,06% increase as opposed to the preceding year.
Company's financial status is balanced since indebtedness is not high
(1,61) with an improving trend as on the decrease.
The management generated equity capital for an amount of Eur. 1.449.155
, with an upward trend.
Total indebtedness amounts to Eur. 2.752.773, with no important change.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high anyway better than the field's average.
Liquidity is good (1,93)
Credits are collected in 88,88 days on the average. , a value lower than
the sector's average.
During financial year 2012 the cash flow amounted to Eur. 1.158.518
Labour cost expenses amount to Eur. 384.577 , representing 3,95% on the
total of production costs. , whereas 3,41% is the incidence on sales revenues.
Financial charges have a limited incidence (-0,03%) on sales volume.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.271.210 |
|
Profit (Loss) for the period |
1.136.087 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.737.337 |
|
Profit (Loss) for the period |
813.342 |
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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value Type |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|
|
|
|
|
Rigidity Ratio |
Units |
0,01 |
0,00 |
0,11 |
|
Elasticity Ratio |
Units |
0,99 |
1,00 |
0,87 |
|
Availability of stock |
Units |
0,22 |
0,20 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,77 |
0,79 |
0,56 |
|
Quick Ratio |
Units |
0,08 |
0,04 |
0,02 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,61 |
2,35 |
3,81 |
|
Self Financing Ratio |
Units |
0,27 |
0,22 |
0,17 |
|
Capital protection Ratio |
Units |
0,08 |
0,05 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,12 |
|
Financing |
Units |
1,90 |
2,55 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,28 |
0,22 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
1,28 |
|
CORRELATION |
|
|
|
|
|
Fixed assets ratio |
Units |
33,73 |
50,87 |
2,06 |
|
Current ratio |
Units |
1,93 |
1,80 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,50 |
1,43 |
0,84 |
|
Structure's primary quotient |
Units |
32,80 |
49,64 |
1,28 |
|
Treasury's primary quotient |
Units |
0,15 |
0,08 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
370,37 |
459,87 |
591,61 |
|
Current Capital ( net ) |
Value |
2.547.843 |
2.161.561 |
219.071 |
|
RETURN |
|
|
|
|
|
Return on Sales |
% |
10,28 |
9,53 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
78,40 |
76,51 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
115,61 |
116,89 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
31,03 |
25,62 |
4,19 |
|
Return/ Sales |
% |
14,77 |
14,34 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
68,22 |
64,93 |
29,26 |
|
Cash Flow |
Value |
1.158.518 |
832.647 |
61.669 |
|
Operating Profit |
Value |
1.665.318 |
1.252.656 |
95.558 |
|
Gross Operating Margin |
Value |
1.743.436 |
1.271.961 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
Credits to clients average term |
Days |
88,88 |
n.c. |
120,94 |
|
Debts to suppliers average term |
Days |
93,33 |
n.c. |
120,04 |
|
Average stock waiting period |
Days |
37,73 |
41,21 |
61,92 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,10 |
1,79 |
1,27 |
|
Rate of stock return |
Units |
9,54 |
8,73 |
5,74 |
|
Labour cost incidence |
% |
3,41 |
3,14 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-0,03 |
-0,13 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
3,95 |
3,63 |
7,90 |
|
Short-term financing charges |
% |
0,14 |
0,43 |
2,67 |
|
Capital on hand |
% |
47,62 |
55,95 |
78,39 |
|
Sales pro employee |
Value |
939.267 |
1.092.167 |
437.713 |
|
Labour cost pro employee |
Value |
32.048 |
34.335 |
33.928 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
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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 6.137 significant companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 120 dd.
The sector's profitability is on an average of 2,22%.
The labour cost affects the turnover in the measure of 7,77%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and the resources used to
realize it is about 1,27.
The employees costs represent the 7,90% 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.60.61 |
|
UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.