MIRA INFORM REPORT
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Report No. : |
318008 |
|
Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CMP DI PILASTROSRL |
|
|
|
|
Registered Office : |
Via Galileo Galilei, 30 36030 - Costabissara (VI) |
|
|
|
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Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
07.01.1969 |
|
|
|
|
Legal Form : |
Limited liability company |
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|
|
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Line of Business : |
Manufacture of metal structures and structure parts |
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|
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No. of Employee : |
From 36 to 50 |
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 : |
140.000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Italy |
A2 |
A1 |
|
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 |
|
Off-credit |
D |
ITALY ECONOMIC
OVERVIEW
Italy has a diversified 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 132% of GDP in 2014, 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 tax evasion. In
2014 economic growth and labor market conditions continued to deteriorate, with
overall unemployment rising to 12.2% and youth unemployment around 40%. Italy's
GDP is now nearly 10% below its 2007 pre-crisis level.
|
Source
: CIA |
Company
name and address
CMP DI PILASTROSRL
Via Galileo Galilei, 30 36030 - Costabissara (VI)
Summary
|
Fiscal Code |
: |
00180230245 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
07/01/1969 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
Credit
an Credit Analysis
|
Credit Opinion |
: |
140.000 - |
Activity
Manufacture of metal structures and structure parts
Legal
Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 23116 of Vicenza |
|
Fiscal Code : 00180230245 |
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Foreign Trade Reg. no. : 914832 of Vicenza |
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Chamber of Commerce no. : 114001 of Vicenza since 20/10/1971 |
|
V.A.T. Code : 00180230245 |
|
Start of Activities |
: 07/01/1969 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 90.000 |
|
|
Subscribed Capital |
: 90.000 |
|
|
Paid up Capital |
: 90.000 |
|
Legal mail : |
CMP-PILASTRO@PEC.RESNOVA.IT |
Members
|
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Pilastro |
Gelsomino |
|
|
Born in Costabissara |
(VI) |
on 01/03/1940 |
- Fiscal Code : PLSGSM40C01D107M |
|
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Residence: |
Dante |
, 70 |
- 36030 |
Costabissara |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/2011 |
||
|
Board Chairman |
16/12/2011 |
||
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Managing Director |
16/12/2011 |
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No Prejudicial events are reported |
|
|
No Protests registered |
|
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Pilastro |
Nereo |
|
|
Born in Vicenza |
(VI) |
on 15/03/1948 |
- Fiscal Code : PLSNRE48C15L840S |
|
|
Residence: |
Roma |
, 90 |
- 36030 |
Costabissara |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/2011 |
||
|
Managing Director |
16/12/2011 |
|
|
No Prejudicial events are reported |
|
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No Protests registered |
|
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Pilastro |
Luigino |
|
|
Born in Vicenza |
(VI) |
on 05/07/1965 |
- Fiscal Code : PLSLGN65L05L840H |
|
|
Residence: |
Preazzi |
, 20 |
- 36030 |
Costabissara |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/12/2011 |
||
|
Managing Director |
16/12/2011 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*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.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
PilastroGelsomino |
Costabissara - IT - |
PLSGSM40C01D107M |
49.500 .Eur |
55,00 |
|
PilastroNereo |
Costabissara - IT - |
PLSNRE48C15L840S |
22.500 .Eur |
25,00 |
|
PilastroLuigino |
Costabissara - IT - |
PLSLGN65L05L840H |
18.000 .Eur |
20,00 |
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 |
|
Galileo Galilei |
, 30 |
- 36030 |
- Costabissara |
(VI) |
- IT - |
|
Legal mail |
: CMP-PILASTRO@PEC.RESNOVA.IT |
|
Employees |
: 46 |
|
Fittings and Equipment for a value of 100.000 |
Eur |
|
Stocks for a value of 2.280.000 |
Eur |
The firm operates abroad as exporter..
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own agents |
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
Subject is active since 1969
On the base of the analysis made on the b/s of the years 2013 and 2012,
it can be gathered that:
Under the financial profile unstable results are noted. yet with a
positive result in the 2013 (r.o.e. 2,53%). The turnover is growing in the last
financial year (+16,47%).
The operating result in 2013 was positive (3,94%) falling within the
field's average.
An operating result of Eur. 170.632 has been registered. showing an
upward trend 86,16% compared to the previous financial year.
During the latest financial year the gross operating margin amounted to
Eur. 248.435 growing by 63,14% if compared to the year before.
The financial status of the company is fairly balanced with an
indebtedness level of 2,13 even though on the increase if compared to 2012.
The equity capital is equal to Eur. 1.083.469 on stable levels.
During the last financial year debts totalled Eur. 2.585.946 (Eur.
89.900 of which were m/l term debts) , showing an upward trend if compared to
2012.
Bank exsposure is limited and the suppliers' credit is modest too,
85,79gg. is the payment average period which is also lower than the sector
average.
The management determines a good range of liquidity.
Credits are collected in 51,45 days on the average. , lower than the
sector's average.
2013 financial year closed with a cash flow of Eur. 105.196
Labour cost amounts to Eur. 1.499.605, with a 31,16% incidence on
production costs. , whereas 36,77% is the incidence on sales revenues.
Financial charges have a limited incidence (-0,82%) on sales volume.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.078.535 |
|
Profit (Loss) for the period |
27.393 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.501.646 |
|
Profit (Loss) for the period |
-3.648 |
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 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value Type |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
||||
|
Rigidity Ratio |
Units |
0,27 |
0,31 |
0,20 |
|
Elasticity Ratio |
Units |
0,72 |
0,69 |
0,77 |
|
Availability of stock |
Units |
0,53 |
0,35 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,20 |
0,34 |
0,55 |
|
Quick Ratio |
Units |
0,04 |
0,13 |
0,03 |
|
COMPOSITION ON
SOURCE |
||||
|
Net Short-term indebtedness |
Units |
2,13 |
1,32 |
4,09 |
|
Self Financing Ratio |
Units |
0,25 |
0,29 |
0,15 |
|
Capital protection Ratio |
Units |
0,89 |
0,92 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,26 |
0,33 |
0,16 |
|
Financing |
Units |
2,39 |
1,86 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,40 |
0,47 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,17 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
1,01 |
|
CORRELATION |
||||
|
Fixed assets ratio |
Units |
1,47 |
1,52 |
1,34 |
|
Current ratio |
Units |
1,26 |
1,33 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,34 |
0,66 |
0,85 |
|
Structure's primary quotient |
Units |
0,92 |
0,96 |
0,75 |
|
Treasury's primary quotient |
Units |
0,08 |
0,25 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
399,89 |
339,74 |
660,68 |
|
Current Capital ( net ) |
Value |
644.623 |
614.494 |
80.037 |
|
RETURN |
||||
|
Return on Sales |
% |
2,58 |
1,63 |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
2,53 |
-0,35 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
11,10 |
6,63 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
3,94 |
2,55 |
4,91 |
|
Return/ Sales |
% |
4,18 |
2,62 |
4,60 |
|
Extra Management revenues/charges incid. |
% |
16,05 |
-3,98 |
26,08 |
|
Cash Flow |
Value |
105.196 |
56.975 |
67.440 |
|
Operating Profit |
Value |
170.632 |
91.655 |
88.577 |
|
Gross Operating Margin |
Value |
248.435 |
152.278 |
150.352 |
|
MANAGEMENT |
||||
|
Credits to clients average term |
Days |
51,45 |
63,47 |
126,77 |
|
Debts to suppliers average term |
Days |
85,79 |
112,83 |
141,48 |
|
Average stock waiting period |
Days |
201,25 |
128,51 |
45,00 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,94 |
0,98 |
1,12 |
|
Rate of stock return |
Units |
1,79 |
2,80 |
7,83 |
|
Labour cost incidence |
% |
36,77 |
34,73 |
20,16 |
|
Net financial revenues/ charges incidence |
% |
-0,82 |
-0,68 |
-1,63 |
|
Labour cost on purchasing expenses |
% |
31,16 |
31,20 |
20,64 |
|
Short-term financing charges |
% |
1,31 |
1,39 |
2,63 |
|
Capital on hand |
% |
106,23 |
102,46 |
89,16 |
|
Sales pro employee |
Value |
88.663 |
92.148 |
163.688 |
|
Labour cost pro employee |
Value |
32.600 |
32.002 |
32.486 |
Credit
Opinion
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:
140.000
Eur.
Remarks
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.
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
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 3.053 significant companies.
The companies cash their credits on an average of 127 dd.
The average duration of suppliers debts is about 141 dd.
The sector's profitability is on an average of 3,45%.
The labour cost affects the turnover in the measure of 20,16%.
Goods are held in stock in a range of 45 dd.
The difference between the sales volume and the resources used to
realize it is about 1,12.
The employees costs represent the 20,64% 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 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.