|
Report Date : |
05.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LA FIRST S.R.L. |
|
|
|
|
Registered Office : |
Via Macchiavelli, 5, 81030-Castel
Volturno (CE) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.03.1994 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
·
Hypermarkets ·
Management of car parks and garages ·
Cleaning and disinfestation activities |
|
|
|
|
No of Employees : |
From 1 to 5 |
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 |
LA FIRST S.R.L.
Via Macchiavelli, 5
81030 - Castel Volturno (CE) -IT-
|
Fiscal Code |
: |
02148850619 |
|
Legal Form |
: |
Limited liability company |
|
Start of Activities |
: |
24/09/1998 |
|
Equity |
: |
400.000 |
|
Turnover Range |
: |
1.500.000/2.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Hypermarkets
Management of car parks and garages
Cleaning and disinfestation activities
Legal Form : Limited liability company
|
Fiscal Code : 02148850619 |
|
Chamber of Commerce no. : 143005 of Caserta since 28/03/1994 |
|
Chamber of Commerce no. : 878089 of Napoli |
|
V.A.T. Code : 02148850619 |
|
Establishment date |
: 10/03/1994 |
|
|
Start of Activities |
: 24/09/1998 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.400 |
|
|
Subscribed Capital |
: 10.400 |
|
|
Paid up Capital |
: 10.400 |
|
|
|
Fusco |
Giovanni |
|
|
|
Born in Francolise |
(CE) |
on 18/12/1965 |
- Fiscal Code : FSCGNN65T18D769U |
|
|
|
Residence: |
|
Vittime Civili Ii G.m. |
, 5 |
- 81050 |
Francolise |
(CE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/12/2011 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national
scale.
In this module the companies in which members
hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Fusco Giovanni |
Francolise - IT - |
FSCGNN65T18D769U |
9.360 .Eur |
90,00 |
|
Simeone Vittorio |
|
SMNVTR91L26I234I |
1.040 .Eur |
10,00 |
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 |
|
|
|
|
|
|
|
Macchiavelli |
, 5 |
- 81030 |
- Castel Volturno |
(CE) |
- IT - |
|
|
|
|
Total Surface: 50 Sq.mt. |
|
- |
Branch |
(office) |
since 29/10/2012 |
|
|
|
|
|
|
Schito |
, 167 |
- 80053 |
- Castellammare di Stabia |
(NA) |
- IT - |
|
|
|
|
Total Surface: 40 Sq.mt. |
|
- |
Branch |
(Shop) |
since 07/01/2013 |
|
|
|
|
|
|
Ponte Persica |
, 4 |
- 80053 |
- Castellammare di Stabia |
(NA) |
- IT - |
|
|
|
|
Total Surface: 40 Sq.mt. |
|
|
|
|
Employees |
: 2 |
|
|
|
|
Seasonal workers |
: 5 |
|
Stocks for a value of 35.000 |
Eur |
|
|
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 1998
The eonomic-financial analysis is based on
the latest 3 b/s.
During the last years, it achieved profits
(r.o.e. 35,17% on 2013) with a remarkable upward trend (more then 100% on 2013
compared to 2012 and more then 100% on 2012 compared to 2011).
The operating result was positive in the last
financial year (76,98%) and higler than the field average.
The amount of the operating result for the
year 2013 is of Eur. 173.293 , with no sizeable change as opposed to the year
before.
The economic management produced a gross
operating margin of Eur. 190.124 on the same levels as the previous financial
year.
The analysis shows a fair financial position
as the indebtedness volume is acceptable (1,78) but with an increase as against
the previous accounting period.
The management generated equity capital for
an amount of Eur. 339.662 , increasing by 54,23% if compared to the financial
year 2012.
Total debts (both short and M/L term) equals
Eur. 667.467, with a growth equal to more then 100%.
Liquidity is insufficient.
2013 financial year closed with a cash flow
of Eur. 136.274
Labour cost expenses amount to Eur. 86.199 ,
representing 5,16% on the total of production costs. , whereas 4,69% is the
incidence on sales revenues.
Limited financial charges in relation to
sales volume.
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.838.938 |
|
Profit (Loss) for the period |
119.443 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
602.062 |
|
Profit (Loss) for the period |
107.212 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
272.478 |
|
Profit (Loss) for the period |
85.609 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.750 |
|
Profit (Loss) for the period |
-11.364 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.537 |
|
Profit (Loss) for the period |
329 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,56 |
0,12 |
0,27 |
0,17 |
|
Elasticity Ratio |
Units |
0,44 |
0,88 |
0,73 |
0,79 |
|
Availability of stock |
Units |
0,16 |
n.c. |
n.c. |
0,02 |
|
Total Liquidity Ratio |
Units |
0,28 |
0,88 |
0,73 |
0,76 |
|
Quick Ratio |
Units |
0,28 |
0,07 |
0,09 |
0,04 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,78 |
1,02 |
0,79 |
4,85 |
|
Self Financing Ratio |
Units |
1,51 |
0,46 |
0,51 |
0,13 |
|
Capital protection Ratio |
Units |
0,62 |
0,47 |
0,15 |
0,50 |
|
Liabilities consolidation quotient |
Units |
0,01 |
n.c. |
n.c. |
0,24 |
|
Financing |
Units |
1,97 |
1,17 |
0,97 |
5,30 |
|
Permanent Indebtedness Ratio |
Units |
1,53 |
0,46 |
0,51 |
0,32 |
|
M/L term Debts Ratio |
Units |
0,03 |
n.c. |
n.c. |
0,14 |
|
Net Financial Indebtedness Ratio |
Units |
1,78 |
0,00 |
n.c. |
1,10 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
2,74 |
3,88 |
1,90 |
1,47 |
|
Current ratio |
Units |
0,15 |
1,63 |
1,49 |
1,14 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,09 |
1,63 |
1,49 |
1,09 |
|
Structure's primary quotient |
Units |
2,70 |
3,88 |
1,90 |
0,77 |
|
Treasury's primary quotient |
Units |
0,09 |
0,13 |
0,18 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
66,28 |
217,20 |
197,31 |
791,67 |
|
Current Capital ( net ) |
Value |
-568.692 |
163.478 |
53.491 |
52.074 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
7,41 |
18,58 |
33,13 |
2,09 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
35,17 |
48,68 |
75,76 |
7,73 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
51,39 |
73,78 |
114,89 |
32,66 |
|
Return on Investment ( R.O.I. ) |
% |
76,98 |
35,10 |
59,16 |
5,48 |
|
Return/ Sales |
% |
9,42 |
27,89 |
48,41 |
3,67 |
|
Extra Management revenues/charges incid. |
% |
68,93 |
63,86 |
64,90 |
16,30 |
|
Cash Flow |
Value |
136.274 |
111.885 |
90.282 |
39.862 |
|
Operating Profit |
Value |
173.293 |
167.885 |
131.908 |
48.057 |
|
Gross Operating Margin |
Value |
190.124 |
172.558 |
136.581 |
96.711 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
232,46 |
n.c. |
148,73 |
|
Debts to suppliers average term |
Days |
n.c. |
199,52 |
n.c. |
151,43 |
|
Average stock waiting period |
Days |
6,94 |
n.c. |
n.c. |
4,29 |
|
Rate of capital employed return ( Turnover ) |
Units |
8,17 |
1,26 |
1,22 |
1,39 |
|
Rate of stock return |
Units |
51,87 |
n.c. |
n.c. |
83,77 |
|
Labour cost incidence |
% |
4,69 |
21,20 |
15,26 |
57,17 |
|
Net financial revenues/ charges incidence |
% |
-0,01 |
-0,90 |
-0,76 |
-1,07 |
|
Labour cost on purchasing expenses |
% |
5,16 |
29,40 |
29,57 |
59,06 |
|
Short-term financing charges |
% |
0,05 |
2,10 |
1,89 |
2,30 |
|
Capital on hand |
% |
12,24 |
79,45 |
81,83 |
71,61 |
|
Sales pro employee |
Value |
919.469 |
200.687 |
272.478 |
47.633 |
|
Labour cost pro employee |
Value |
43.099 |
42.554 |
41.573 |
28.279 |
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 |
: |
879.342 |
|
Population living in the region |
: |
5.788.986 |
|
Number of families in the region |
: |
1.966.064 |
Monthly family expences average in the
region (in Eur..) :
|
- per food products |
: |
475 |
|
- per non food products |
: |
1.304 |
|
- per energy consume |
: |
79 |
The values are calculated on a base of 883
significant companies.
The companies cash their credits on an
average of 149 dd.
The average duration of suppliers debts is
about 151 dd.
The sector's profitability is on an average
of 2,09%.
The labour cost affects the turnover in the
measure of 57,17%.
Goods are held in stock in a range of 4 dd.
The difference between the sales volume and
the resources used to realize it is about 1,39.
The employees costs represent the 59,06% of
the production costs.
Statistcally the trade activity shows
periods of crisis.
The area is statistically considered
remarkably risky.
In the region 80.616 protested subjects are
found; in the province they count to 11.574.
The insolvency index for the region is 1,40,
, while for the province it is 1,33.
Total Bankrupt companies in the province :
3.477.
Total Bankrupt companies in the region :
28.514.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.45 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.79.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.