|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
S.T.EN. STONE TRADING ENTERPRISES S.P.A. |
|
|
|
|
Registered Office : |
Via F. Compagni, 53 54100 – |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
27.11.1985 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
·
Cutting and carving of stone and
marble ·
Wholesale of other building materials |
|
|
|
|
No. of Employees : |
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 |
|
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 |
|
S.t.en. Stone Trading Enterprises S.p.a. |
|
Via |
F.compagni, |
53 |
|
54100 |
- Massa |
(MS) |
-IT- |
|
Fiscal Code |
: |
00272630450 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
11/04/1986 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
3.000.000/3.750.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Cutting and carving of stone and marble
Wholesale of other building materials
Legal Form : Joint stock company
|
Fiscal Code : 00272630450 |
|
Foreign Trade Reg. no. : MS003990 since 05/02/1992 |
|
Chamber of Commerce no. : 82727 of Massa since 18/12/1985 |
|
Firms' Register : MS010-4956 of Massa since 19/02/1996 |
|
V.A.T. Code : 00272630450 |
|
R. E. C. no. : 12192 of Massa since 11/04/1986 |
|
Foundation date |
: 27/11/1985 |
|
|
Establishment date |
: 27/11/1985 |
|
|
Start of Activities |
: 11/04/1986 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 1.040.000 |
|
|
Subscribed Capital |
: 1.040.000 |
|
|
Paid up Capital |
: 1.040.000 |
|
|
|
D'Angiolo |
Stefano |
|
|
|
Born in Pietrasanta |
(LU) |
on 27/01/1962 |
- Fiscal Code : DNGSFN62A27G628C |
|
|
|
Residence: |
|
B.Croce |
, 41/A |
- 55042 |
Forte dei Marmi |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
D'angiolo |
Giuliano |
|
|
|
Born in Pietrasanta |
(LU) |
on 09/06/1960 |
- Fiscal Code : DNGGLN60H09G628X |
|
|
|
Residence: |
|
A. Dazzi, 8 |
- 55042 |
Pietrasanta |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
26/04/2012 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Campolonghi Italia S.p.a. |
|
|
|
|
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.
|
|
D'angiolo |
Giuliano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Campolonghi Italia S.p.a. |
Montignoso (MS) - IT - |
00060530458 |
Managing Director |
Active |
Registered |
|
Campolonghi Italia S.p.a. |
Montignoso (MS) - IT - |
00060530458 |
Director |
Active |
Registered |
|
Freda S.p.a. |
Seravezza (LU) - IT - |
00145690467 |
Managing Director |
Withdrawn |
Registered |
|
Freda S.p.a. |
Seravezza (LU) - IT - |
00145690467 |
Director |
Withdrawn |
Registered |
|
Uno Apuania S.r.l. |
Carrara (MS) - IT - |
00538640459 |
Director |
Withdrawn |
Ceased |
|
Fada S.p.a. |
Roma (RM) - IT - |
06073240589 |
Director |
Active |
Registered |
|
Consorzio Per Lo Sviluppo Dell'attivita'Marmifera
Apuo-versiliese- Cosmave |
Pietrasanta (LU) - IT - |
91004320460 |
Chairman |
Withdrawn |
Registered |
|
Consorzio Per Lo Sviluppo Dell'attivita'Marmifera
Apuo-versiliese- Cosmave |
Pietrasanta (LU) - IT - |
91004320460 |
Vice-Chairman |
Active |
Registered |
|
Consorzio Per Lo Sviluppo Dell'attivita'Marmifera
Apuo-versiliese- Cosmave |
Pietrasanta (LU) - IT - |
91004320460 |
Board of Directors' chairman |
Withdrawn |
Registered |
|
La Pietra S.r.l. |
Carrara (MS) - IT - |
00443260450 |
Liquidator |
Withdrawn |
Ceased |
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 |
|
D'Angiolo Stefano |
Forte dei Marmi - IT - |
DNGSFN62A27G628C |
390.000 .Eur |
37,50 |
|
D'angiolo Giuliano |
Pietrasanta - IT - |
DNGGLN60H09G628X |
390.000 .Eur |
37,50 |
|
Campolonghi Italia S.p.a. |
|
00060530458 |
260.000 .Eur |
25,00 |
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 |
|
|
|
|
|
|
|
F.compagni |
, 53 |
- 54100 |
- Massa |
(MS) |
- IT - |
|
|
|
|
PHONE |
: 05855313 |
|
- |
Branch |
(Warehouse) |
since 24/10/1988 |
|
|
|
|
|
|
Provinciale Massa Avenza |
- 54100 |
- Massa |
(MS) |
- IT - |
|
|
|
|
PHONE |
: 058553133 |
|
- |
Branch |
(Warehouse) |
since 20/06/1991 |
|
|
|
|
|
|
F. Compagni |
, 74 |
- 54100 |
- Massa |
(MS) |
- IT - |
|
|
|
|
PHONE |
: 058553133 |
|
|
|
|
Employees |
: 9 |
|
Fittings and Equipment for a value of 270.000 |
Eur |
|
Stocks for a value of 3.300.000 |
Eur |
|
|
The firm operates abroad as exporter..
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
COMPANY'S CAPITAL CHANGES:
|
Former Type |
Former Amount |
New Type |
New Amount |
Changement Date |
|
subcribed,nominal and issued |
516.457Eur |
subcribed,nominal and issued |
1.032.914Eur |
26/03/1996 |
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 1986
The analysis is based on the latest 3 balance sheets.
During the last years, it achieved profits (r.o.e. 0,4% on
2013)
The operating result in 2013 was positive (1,03%) falling
within the field's average.
An operating result of Eur. 105.656 has been registered.
rising (+24,15%) in relation to the previous year.
During the latest financial year the gross operating margin
amounted to Eur. 228.537 , stable if compared to the year before.
The company has an excellent net worth if compared to its
debts, with a low indebtedness (0,22) which is yet rising if compared to 2012.
With regard to equity capital, an amount of Eur. 7.951.140
is registered. , unchanged if compared to 2012.
During the last financial year total debts volume reached
Eur. 2.035.579 (Eur. 98.155 were m/l term ones) , showing an upward trend if
compared to 2012.
Liquidity is good.
The financial management generated a cash flow of Eur.
154.571.
Labour cost amounts to Eur. 311.402, with a 10,19% incidence
on production costs. and a 10,04% incidence on sales volumes.
Financial charges have a high incidence (-1,95%) on turnover
figures.
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.101.266 |
|
Profit (Loss) for the period |
31.690 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.400.481 |
|
Profit (Loss) for the period |
3.397 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.959.285 |
|
Profit (Loss) for the period |
17.410 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.841.868 |
|
Profit (Loss) for the period |
56.118 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.496.233 |
|
Profit (Loss) for the period |
-272.521 |
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 |
0,59 |
0,63 |
0,58 |
0,11 |
|
Elasticity Ratio |
Units |
0,41 |
0,37 |
0,42 |
0,87 |
|
Availability of stock |
Units |
0,32 |
0,31 |
0,34 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,09 |
0,06 |
0,08 |
0,56 |
|
Quick Ratio |
Units |
0,02 |
0,01 |
0,01 |
0,02 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
0,22 |
0,18 |
0,32 |
3,81 |
|
Self Financing Ratio |
Units |
0,77 |
0,80 |
0,72 |
0,17 |
|
Capital protection Ratio |
Units |
0,87 |
0,87 |
0,87 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,18 |
0,25 |
0,18 |
0,12 |
|
Financing |
Units |
0,26 |
0,21 |
0,36 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,81 |
0,84 |
0,76 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,03 |
0,04 |
0,04 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,28 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,37 |
1,35 |
1,32 |
2,06 |
|
Current ratio |
Units |
2,16 |
2,41 |
1,79 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,46 |
0,38 |
0,35 |
0,84 |
|
Structure's primary quotient |
Units |
1,31 |
1,28 |
1,25 |
1,28 |
|
Treasury's primary quotient |
Units |
0,11 |
0,07 |
0,03 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
129,32 |
124,27 |
139,03 |
591,61 |
|
Current Capital ( net ) |
Value |
2.250.270 |
2.140.208 |
2.056.624 |
219.071 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
4,98 |
4,00 |
3,72 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,40 |
0,04 |
0,22 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
0,61 |
0,15 |
0,57 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
1,03 |
0,86 |
1,05 |
4,19 |
|
Return/ Sales |
% |
3,41 |
2,50 |
2,93 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
29,99 |
3,99 |
15,01 |
29,26 |
|
Cash Flow |
Value |
154.571 |
135.983 |
147.213 |
61.669 |
|
Operating Profit |
Value |
105.656 |
85.100 |
116.006 |
95.558 |
|
Gross Operating Margin |
Value |
228.537 |
217.686 |
245.809 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
120,94 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
120,04 |
|
Average stock waiting period |
Days |
382,52 |
327,13 |
342,02 |
61,92 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,30 |
0,35 |
0,36 |
1,27 |
|
Rate of stock return |
Units |
0,94 |
1,10 |
1,05 |
5,74 |
|
Labour cost incidence |
% |
10,04 |
9,27 |
8,03 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-1,95 |
-1,71 |
-1,92 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
10,19 |
9,48 |
8,24 |
7,90 |
|
Short-term financing charges |
% |
2,98 |
3,51 |
2,69 |
2,67 |
|
Capital on hand |
% |
331,55 |
289,41 |
277,97 |
78,39 |
|
Sales pro employee |
Value |
344.585 |
377.831 |
439.920 |
437.713 |
|
Labour cost pro employee |
Value |
34.600 |
35.013 |
35.313 |
33.928 |
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 |
: |
200.644 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
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.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the
province they count to 1.432.
The insolvency index for the region is 0,70, , while for the
province it is 0,72.
Total Bankrupt companies in the province : 1.056.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.