|
Report No. : |
352319 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEBA PROTEZIONE S.R.L. |
|
|
|
|
Registered Office : |
Via Italia, 1/2 RENAZZO44042 - Cento (FE) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
08.02.1990 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Wholesale of fire-prevention and accident-prevention
goods. |
|
|
|
|
No. of Employee : |
From 11 to 15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Italy |
A1 |
A1 |
|
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 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 |
|
SEBA PROTEZIONE S.R.L. |
|
Via Italia, 1/2 RENAZZO44042 - Cento (FE)
-IT- |
|
Fiscal Code |
: |
01133350387 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
08/02/1990 |
|
Equity |
: |
200.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
Wholesale of fire-prevention and
accident-prevention goods
Legal Form : Limited liability company
|
Fiscal Code : 01133350387 |
|
Foreign Trade Reg. no. : FE001387 since
12/12/1991 |
|
Foreign Trade Reg. no. : 1387 of Ferrara
since 12/12/1991 |
|
Chamber of Commerce no. : 134060 of Ferrara
since 23/02/1990 |
|
Firms' Register : FE008-11980 of Ferrara
since 19/02/1996 |
|
V.A.T. Code : 01133350387 |
|
R. E. C. no. : 26300 of Ferrara since
11/06/1991 |
|
Tribunal Co. Register : 11980 of since 08/02/1990 |
|
Foundation date |
: 07/12/1989 |
|
|
Establishment date |
: 07/12/1989 |
|
|
Start of Activities |
: 08/02/1990 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 31.200 |
|
|
Subscribed Capital |
: 31.200 |
|
|
Paid up Capital |
: 31.200 |
|
Legal mail : |
SEBAPROTEZIONE@POSTALEGALE.BIZ |
|
Minarelli |
Giancarlo |
|
Born in San Giovanni in Persiceto |
(BO) |
on 22/08/1943 |
- Fiscal Code : MNRGCR43M22G467M |
|
Residence: |
Nino Bixio, |
, 7 |
- 44042 |
Cento |
(FE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Chairman |
07/12/1989 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Minarelli |
Alberto |
|
Born in Cento |
(FE) |
on 19/10/1969 |
- Fiscal Code : MNRLRT69R19C469N |
|
Residence: |
Pacinotti |
, 12 |
- 44042 |
Cento |
(FE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Zaniboni |
Franca |
|
Born in Sant'Agostino |
(FE) |
on 14/07/1946 |
- Fiscal Code : ZNBFNC46L54I209A |
|
Residence: |
Farini, |
, 15 |
- 44042 |
Cento |
(FE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
|||
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Minarelli |
Morena |
|
Born in Cento |
(FE) |
on 15/05/1974 |
- Fiscal Code : MNRMRN74E55C469C |
|
Residence: |
Caravaggio |
, 1 |
- 44040 |
Sant'Agostino |
(FE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
10/02/1999 |
*checkings have been performed on a national
scale.
In this module are listed the companies in which
members hold or have holded positions.
|
Minarelli |
Giancarlo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Seba Di Minarelli Giancarlo |
Cento (FE) - IT - |
MNRGCR43M22G467M |
Proprietor |
Active |
Registered |
|
Immobiliare La Rocca S.n.c. Di
MinarelliAlberto E Morena E C. |
Bologna (BO) - IT - |
01817061201 |
Partner |
Active |
Registered |
|
Fontana S.n.c. Di Minarelli Giancarlo,
Pirani Anna Teresa E C. |
Cento (FE) - IT - |
00829400381 |
Director |
Active |
Registered |
|
Fontana S.n.c. Di Minarelli Giancarlo,
Pirani Anna Teresa E C. |
Cento (FE) - IT - |
00829400381 |
Partner |
Active |
Registered |
|
Duemme S.a.s. Di Minarelli Alberto - Morena
E C. |
Cento (FE) - IT - |
01471840387 |
Limited Partner |
Withdrawn |
Ceased |
|
Minarelli |
Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
C.n.a. Ferrara Servizi Ed Informatica
-Societa' Cooperativa A Responsabilita' L |
Ferrara (FE) - IT - |
00532600384 |
Director |
Active |
Registered |
|
C.n.a. Ferrara Servizi Ed Informatica
-Societa' Cooperativa A Responsabilita' L |
Ferrara (FE) - IT - |
00532600384 |
Board Chairman |
Active |
Registered |
|
Banca Centro Emilia - Credito Cooperativo Societa'
Cooperativa |
Cento (FE) - IT - |
01402600389 |
Director |
Active |
Registered |
|
Banca Centro Emilia - Credito Cooperativo
Societa' Cooperativa |
Cento (FE) - IT - |
01402600389 |
Memb.of the Executive Committee |
Withdrawn |
Registered |
|
Immobiliare La Rocca S.n.c. Di
MinarelliAlberto E Morena E C. |
Bologna (BO) - IT - |
01817061201 |
Partner |
Active |
Registered |
|
Duemme S.a.s. Di Minarelli Alberto - Morena
E C. |
Cento (FE) - IT - |
01471840387 |
General Partner |
Withdrawn |
Ceased |
|
Duemme S.a.s. Di Minarelli Alberto - Morena
E C. |
Cento (FE) - IT - |
01471840387 |
Representative partner |
Withdrawn |
Ceased |
|
Duemme S.a.s. Di Minarelli Alberto - Morena
E C. |
Cento (FE) - IT - |
01471840387 |
Partner |
Withdrawn |
Ceased |
|
Interlingue S.n.c. Di Naida Kulenovic EC. |
Cento (FE) - IT - |
01629990381 |
Representative partner |
Active |
Registered |
|
Interlingue S.n.c. Di Naida Kulenovic EC. |
Cento (FE) - IT - |
01629990381 |
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 |
|
Minarelli Giancarlo |
Cento - IT - |
MNRGCR43M22G467M |
8.112 .Eur |
26,00 |
|
Minarelli Alberto |
Cento - IT - |
MNRLRT69R19C469N |
7.488 .Eur |
24,00 |
|
Zaniboni Franca |
Cento - IT - |
ZNBFNC46L54I209A |
8.112 .Eur |
26,00 |
|
Minarelli Morena |
Sant'Agostino - IT - |
MNRMRN74E55C469C |
7.488 .Eur |
24,00 |
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 |
since 07/12/1989 |
|
Italia |
, 1/2 |
- 44042 |
- Cento |
(FE) |
- IT - |
|
Legal mail |
: SEBAPROTEZIONE@POSTALEGALE.BIZ |
|
Employees |
: 13 |
|
Fittings and Equipment for a value of 4.000 |
Eur |
|
Stocks for a value of 2.240.000 |
Eur |
|
Vehicles for a value of 52.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses the
following channels :
|
- distributors |
|
- direct orders to foreign companies |
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the following nations:
|
- Italy |
Export is mainly towards:
|
- Italy |
|
- Ireland |
|
- Austria |
|
- Hungary |
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.
Company's starting of activities dates back
to 1990.
The economic-financial analysis has been made
on the base of the b/s of the latests three years.
During the last years, net losses were
registered; in 2014 r.o.e. is -62,62%.
The return on Investment in the last
financial year was positive (4,33%) and in line with the sector's average.
The amount of the operating result is equal
to Eur. 181.415 with an increase of 38,09% if the compared to the previous
financial year.
During the latest financial year the gross
operating margin amounted to Eur. 286.826 showing an upward trend if compared
to 2013.
Financial condition is not balanced as own
capitals do not cover debts, indebtedness level is in fact high (20,63) and
increasing if compared to the previous year.
The management generated equity capital for
an amount of Eur. 156.873 , unchanged if compared to 2013.
During the last financial year debts totalled
Eur. 3.743.484 (Eur. 467.105 of which were m/l term debts) showing a stable
trend as opposed to 2013 (Eur. 3.891.407).
Considerable bank indebtedness; on the other
hand the recourse to suppliers' credit is slightly high however still within
the sector's average.
It shows a good range of liquidity.
On average trade credits are collected in
81,86 days. , shorter than the sector's average.
During financial year 2014 the cash flow
amounted to Eur. 7.175
Labour cost amounts to Eur. 423.557, with a
8,52% incidence on production costs. , whereas the incidence of such costs on
sales revenues is equal to 8,52%.
The financial management is marked by a high
incidence of financial charges in relation to sales revenues (-5,23%).
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.970.901 |
|
Profit (Loss) for the period |
-98.236 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.750.994 |
|
Profit (Loss) for the period |
-169.498 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.714.694 |
|
Profit (Loss) for the period |
-230.747 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.828.227 |
|
Profit (Loss) for the period |
-27.416 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.548.167 |
|
Profit (Loss) for the period |
-113.993 |
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet as at 31/12/2014 - 12 Mesi
- Currency: - Amounts x 1 |
|
- 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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2014 |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,11 |
0,10 |
0,10 |
0,10 |
|
Elasticity Ratio |
Units |
0,89 |
0,90 |
0,90 |
0,87 |
|
Availability of stock |
Units |
0,54 |
0,59 |
0,58 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,35 |
0,31 |
0,32 |
0,61 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,02 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
20,63 |
16,68 |
8,35 |
4,04 |
|
Self Financing Ratio |
Units |
0,04 |
0,04 |
0,09 |
0,16 |
|
Capital protection Ratio |
Units |
1,43 |
1,76 |
1,57 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,21 |
0,31 |
0,22 |
0,11 |
|
Financing |
Units |
23,86 |
21,25 |
9,94 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,20 |
0,26 |
0,25 |
0,26 |
|
M/L term Debts Ratio |
Units |
0,16 |
0,22 |
0,16 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
13,69 |
13,36 |
6,28 |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,86 |
2,69 |
2,55 |
2,12 |
|
Current ratio |
Units |
1,14 |
1,26 |
1,23 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,45 |
0,44 |
0,43 |
0,88 |
|
Structure's primary quotient |
Units |
0,35 |
0,43 |
0,88 |
1,40 |
|
Treasury's primary quotient |
Units |
0,01 |
0,02 |
0,02 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
2669,28 |
2378,19 |
1166,76 |
620,22 |
|
Current Capital ( net ) |
Value |
449.618 |
801.120 |
687.199 |
131.414 |
|
RETURN |
|||||
|
Return on Sales |
% |
0,14 |
-1,79 |
-2,91 |
2,27 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-62,62 |
-92,57 |
-65,44 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-48,53 |
-80,36 |
-62,12 |
18,85 |
|
Return on Investment ( R.O.I. ) |
% |
4,33 |
3,02 |
-0,46 |
4,76 |
|
Return/ Sales |
% |
3,65 |
2,77 |
-0,40 |
3,70 |
|
Extra Management revenues/charges incid. |
% |
-54,15 |
-129,02 |
n.c. |
28,15 |
|
Cash Flow |
Value |
7.175 |
-85.009 |
-137.018 |
39.655 |
|
Operating Profit |
Value |
181.415 |
131.369 |
-18.916 |
63.123 |
|
Gross Operating Margin |
Value |
286.826 |
215.858 |
74.813 |
99.042 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
81,86 |
83,03 |
81,33 |
119,16 |
|
Debts to suppliers average term |
Days |
95,50 |
90,08 |
89,07 |
116,83 |
|
Average stock waiting period |
Days |
162,58 |
193,26 |
183,41 |
58,39 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,19 |
1,09 |
1,15 |
1,36 |
|
Rate of stock return |
Units |
2,21 |
1,86 |
1,96 |
6,14 |
|
Labour cost incidence |
% |
8,52 |
7,88 |
8,06 |
8,98 |
|
Net financial revenues/ charges incidence |
% |
-5,23 |
-5,03 |
-4,79 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
8,52 |
7,80 |
7,70 |
8,98 |
|
Short-term financing charges |
% |
7,07 |
6,23 |
6,62 |
2,60 |
|
Capital on hand |
% |
84,24 |
91,66 |
87,26 |
73,17 |
|
Sales pro employee |
Value |
382.377 |
395.916 |
392.891 |
394.001 |
|
Labour cost pro employee |
Value |
32.581 |
31.203 |
31.682 |
34.340 |
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 |
: |
349.774 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expences average in the region
(in Eur..) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
The values are calculated on a base of 2.551
significant companies.
The companies cash their credits on an
average of 119 dd.
The average duration of suppliers debts is
about 117 dd.
The sector's profitability is on an average
of 2,27%.
The labour cost affects the turnover in the
measure of 8,98%.
Goods are held in stock in a range of 58 dd.
The difference between the sales volume and
the resources used to realize it is about 1,36.
The employees costs represent the 8,98% of
the production costs.
Statistcally the trade activity shows periods
of crisis.
The area is statistically considered lowly
risky.
In the region 18.860 protested subjects are
found; in the province they count to 1.683.
The insolvency index for the region is 0,46,
, while for the province it is 0,48.
Total Bankrupt companies in the province :
1.504.
Total Bankrupt companies in the region :
14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.70.44 |
|
EUR |
1 |
Rs.70.52 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.