|
Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
APICOLTURA BREZZO S.R.L. |
|
|
|
|
Registered Office : |
Frazione Tre Rivi, 87 TRE RIVI, 87 12040 - Monteu Roero (CN) -IT- |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.01.1994 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Retail sale of other food products in specialized stores |
|
|
|
|
No of Employees : |
From 11 to 15 |
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 |
|
Maximum Credit Limit : |
40.000 EUR |
|
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 |
APICOLTURA BREZZO S.R.L.
Frazione Tre Rivi, 87 TRE RIVI, 87
12040 - Monteu Roero (CN) -IT-
Summary
|
Fiscal Code |
: |
02308950043 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
17/01/1994 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
|
Credit Opinion |
: |
40.000 - |
Retail sale of other food products in specialized stores n.e.c.
Legal Form : Limited liability company
|
Fiscal Code : 02308950043 |
|
Municipal Licence : of |
|
Foreign Trade Reg. no. : CN028036 since 20/01/2010 |
|
Chamber of Commerce no. : 168405 of Cuneo since 05/02/1993 |
|
Firms' Register : CN003-6748 of Cuneo since 19/02/1996 |
|
V.A.T. Code : 02308950043 |
|
Tribunal Co. Register : 6748 of |
|
Foundation date |
: 23/12/1992 |
|
|
Establishment date |
: 23/12/1992 |
|
|
Start of Activities |
: 17/01/1994 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 15.600 |
|
|
Subscribed Capital |
: 15.600 |
|
|
Paid up Capital |
: 15.600 |
|
|
|
Brezzo |
Giuseppe |
|
|
|
Born in Monteu Roero |
(CN) |
on 13/08/1951 |
- Fiscal Code : BRZGPP51M13F654I |
|
|
|
Residence: |
|
Tre Rivi |
, 53 |
- 12040 |
Monteu Roero |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
02/10/2012 |
|
|
|
Director |
02/10/2012 |
|
|
|
Board Chairman |
02/10/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Brezzo |
Gervasio |
|
|
|
Born in Monteu Roero |
(CN) |
on 22/07/1927 |
- Fiscal Code : BRZGVS27L22F654B |
|
|
|
Residence: |
|
Tre Rivi |
, 46 |
- 12040 |
Monteu Roero |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/10/2012 |
|
|
|
|
Brezzo |
Andrea |
|
|
|
Born in Torino |
(TO) |
on 27/11/1983 |
- Fiscal Code : BRZNDR83S27L219M |
|
|
|
Residence: |
|
Tre Rivi |
, 53 |
- 12040 |
Monteu Roero |
(CN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/10/2012 |
|
|
|
Managing Director |
02/10/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Brezzo Fabio |
|
|
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
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.
|
|
Brezzo |
Giuseppe |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Azienda Agricola Brezzo S.s. |
Monteu Roero (CN) - IT - |
02291650048 |
Partner |
Active |
Registered |
|
BREZZO GIUSEPPE |
Monteu Roero (CN) - IT - |
BRZGPP51M13F654I |
Proprietor |
Withdrawn |
Registered |
|
Edit-roero Societa' Cooperativa A Responsabilita' Limitata |
Canale (CN) - IT - |
01907240046 |
Director |
Withdrawn |
Registered |
|
Biemme S.a.s. Di Brezzo Andrea SiglabileOve Consentito Dalla Legge In
Biemme S |
Monteu Roero (CN) - IT - |
02881870048 |
General Partner |
Withdrawn |
Registered |
|
|
Brezzo |
Andrea |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Biemme S.a.s. Di Brezzo Andrea SiglabileOve Consentito Dalla Legge In
Biemme S |
Monteu Roero (CN) - IT - |
02881870048 |
General Partner |
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 |
|
Brezzo Giuseppe |
Monteu Roero - IT - |
BRZGPP51M13F654I |
7.800 .Eur |
50,00 |
|
Brezzo Andrea |
Monteu Roero - IT - |
BRZNDR83S27L219M |
3.900 .Eur |
25,00 |
|
Brezzo Fabio |
|
BRZFBA83S27L219G |
3.900 .Eur |
25,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Agenzia Di Pollenzo S.p.a. |
Bra - IT - |
02654340047 |
7.740 .Eur |
0,03 |
|
|
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
|
|
|
|
|
|
Tre Rivi |
, 87 |
- 12040 |
- Monteu Roero |
(CN) |
- IT - |
|
|
|
|
PHONE |
: 017390109 |
|
- |
Branch |
(Warehouse) |
since 13/06/2011 |
|
|
|
|
|
|
S.anna |
, SN |
- 12040 |
- Monteu Roero |
(CN) |
- IT - |
|
|
|
|
Employees |
: 9 |
|
|
|
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of 110.000 |
Eur |
|
Stocks for a value of 1.290.000 |
Eur |
|
|
EX-MEMBERS / EX-POSITIONS:
|
|
Brezzo |
Carlo |
|
|
|
Born in Monteu Roero |
(CN) |
on 10/05/1942 |
- Fiscal Code : BRZCRL42E10F654N |
|
|
|
Residence: |
|
Tre Rivi |
, 89 |
- 12040 |
Monteu Roero |
(CN) |
- IT - |
|
Ex-Postions |
|
Chairman |
|
Board Chairman |
|
Director |
|
|
Brezzo |
Mario |
|
|
|
Born in Monteu Roero |
(CN) |
on 20/04/1960 |
- Fiscal Code : BRZMRA60D20F654P |
|
|
|
Residence: |
|
Tre Rivi |
, 27/TER |
- 12040 |
Monteu Roero |
(CN) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
Director |
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 1994
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
Under the financial profile unstable results are noted. yet with a
positive result in the 2013 (r.o.e. 7,97%).
The operating result was positive in the last financial year (4,68%)
falling within the field's average.
The operating result is positive and amounts to Eur. 215.736 showing a
downwards trend equal to -32,81% if compared to the value of the financial year
2012.
The gross operating margin of the latest financial year is of Eur.
272.217 showing a downward trend as opposed to the previous year.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (1,37) and decreasing as against 2012.
With regard to equity capital, an amount of Eur. 1.807.595 is
registered. on stable levels.
The financial management has recorded total debts amounting to Eur.
2.677.084, with no important change.
Current liquid assets is positive.
2013 financial year closed with a cash flow of Eur. 200.529
In the last financial year labour cost was of Eur. 300.821, with a 6,33%
incidence on total costs of production. , whereas the incidence of such costs
on sales revenues is equal to 6,08%.
The financial management is positive as incomes are higher than the
charges.
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.951.653 |
|
Profit (Loss) for the period |
144.048 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.671.647 |
|
Profit (Loss) for the period |
259.774 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.261.616 |
|
Profit (Loss) for the period |
-10.538 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.091.520 |
|
Profit (Loss) for the period |
238.417 |
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 |
0,29 |
0,33 |
0,21 |
0,19 |
|
Elasticity Ratio |
Units |
0,71 |
0,67 |
0,79 |
0,79 |
|
Availability of stock |
Units |
0,28 |
0,26 |
0,28 |
0,19 |
|
Total Liquidity Ratio |
Units |
0,43 |
0,42 |
0,51 |
0,50 |
|
Quick Ratio |
Units |
0,04 |
0,01 |
0,01 |
0,06 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,37 |
1,42 |
1,60 |
4,55 |
|
Self Financing Ratio |
Units |
0,39 |
0,40 |
0,37 |
0,14 |
|
Capital protection Ratio |
Units |
0,91 |
0,83 |
1,00 |
0,39 |
|
Liabilities consolidation quotient |
Units |
0,04 |
0,04 |
0,04 |
0,15 |
|
Financing |
Units |
1,48 |
1,44 |
1,62 |
5,97 |
|
Permanent Indebtedness Ratio |
Units |
0,42 |
0,42 |
0,40 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,02 |
0,03 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,45 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,42 |
1,30 |
1,89 |
1,35 |
|
Current ratio |
Units |
1,22 |
1,18 |
1,32 |
1,07 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,74 |
0,73 |
0,86 |
0,75 |
|
Structure's primary quotient |
Units |
1,34 |
1,22 |
1,76 |
0,81 |
|
Treasury's primary quotient |
Units |
0,08 |
0,01 |
0,01 |
0,08 |
|
Rate of indebtedness ( Leverage ) |
% |
254,92 |
250,62 |
271,15 |
715,12 |
|
Current Capital ( net ) |
Value |
582.094 |
420.365 |
730.634 |
15.290 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,05 |
6,79 |
0,91 |
1,88 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
7,97 |
15,62 |
-0,75 |
5,06 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
12,23 |
19,91 |
-0,38 |
16,32 |
|
Return on Investment ( R.O.I. ) |
% |
4,68 |
7,70 |
-7,44 |
3,05 |
|
Return/ Sales |
% |
4,36 |
6,87 |
-6,65 |
2,01 |
|
Extra Management revenues/charges incid. |
% |
66,77 |
80,90 |
n.c. |
33,55 |
|
Cash Flow |
Value |
200.529 |
317.084 |
38.569 |
16.674 |
|
Operating Profit |
Value |
215.736 |
321.091 |
-283.237 |
19.765 |
|
Gross Operating Margin |
Value |
272.217 |
378.401 |
-234.130 |
36.810 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
61,19 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
109,29 |
|
Average stock waiting period |
Days |
93,88 |
82,01 |
88,84 |
36,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,07 |
1,12 |
1,12 |
1,67 |
|
Rate of stock return |
Units |
3,83 |
4,39 |
4,05 |
9,77 |
|
Labour cost incidence |
% |
6,08 |
7,56 |
9,77 |
7,79 |
|
Net financial revenues/ charges incidence |
% |
0,08 |
-0,16 |
-0,09 |
-0,67 |
|
Labour cost on purchasing expenses |
% |
6,33 |
8,07 |
9,13 |
7,79 |
|
Short-term financing charges |
% |
0,72 |
0,51 |
0,20 |
1,83 |
|
Capital on hand |
% |
93,06 |
89,24 |
89,32 |
59,73 |
|
Sales pro employee |
Value |
550.183 |
424.695 |
327.816 |
339.394 |
|
Labour cost pro employee |
Value |
33.424 |
32.086 |
32.035 |
30.098 |
On the basis of the above mentioned, and the sales volume obtained, we deem that the maximum exposure for short and medium term transactions ( 90 - 120 days ) could be of: 40.000 Eur.
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 |
: |
569.987 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
The values are calculated on a base of 704 significant companies.
The companies cash their credits on an average of 61 dd.
The average duration of suppliers debts is about 109 dd.
The sector's profitability is on an average of 1,88%.
The labour cost affects the turnover in the measure of 7,79%.
Goods are held in stock in a range of 36 dd.
The difference between the sales volume and the resources used to
realize it is about 1,67.
The employees costs represent the 7,79% of the production costs.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 27.019 protested subjects are found; in the province they
count to 1.458.
The insolvency index for the region is 0,63, , while for the province it
is 0,26.
Total Bankrupt companies in the province : 1.299.
Total Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.79 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.