MIRA INFORM REPORT
|
Report No. : |
351866 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRE G S.R.L. |
|
|
|
|
Registered Office : |
Via Giuseppe Garibaldi, 80, 51037- Montale (PT) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.04.1996 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Preparation
and spinning of textile fibres |
|
|
|
|
No. of Employee : |
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 – 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 |
Company
name and address
TRE
G S.R.L.
Via Giuseppe Garibaldi, 80,
51037- Montale (PT) -IT-
Summary
|
Fiscal
Code |
: |
01717400970 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
14/11/1996 |
|
Equity |
: |
750.000 |
|
Turnover
Range |
: |
3.000.000/3.750.000 |
|
Number
of Employees |
: |
from
1 to 5 |
Activity
Preparation
and spinning of textile fibres
Legal
Data
Legal
Form : Limited liability company
|
Fiscal
Code : 01717400970 |
|
Chamber
of Commerce no. : 464576 of Prato since 24/07/1996 |
|
Chamber
of Commerce no. : 186434 of Pistoia since 04/08/2015 |
|
Firms'
Register : PO-1996-86836 of Prato |
|
V.A.T.
Code : 01717400970 |
|
R.
E. C. no. : 97346 of Prato since 11/11/1996 |
|
Establishment
date |
:
15/04/1996 |
|
|
Start
of Activities |
:
14/11/1996 |
|
|
Legal
duration |
:
31/12/2030 |
|
|
Nominal
Capital |
:
20.800 |
|
|
Subscribed
Capital |
:
20.800 |
|
|
Paid
up Capital |
:
20.800 |
|
Legal
mail : |
TREGSRL@MESSAGGIPEC.IT |
Members
|
Gironi |
Gabriele |
|
Born
in Prato |
(FI) |
on
01/01/1970 |
-
Fiscal Code : GRNGRL70A01G999W |
|
Residence: |
Colle |
,
6 |
-
59016 |
Poggio
a Caiano |
(PO) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Chairman |
01/02/1999 |
|
No
Prejudicial events are reported |
|
No
Protests registered |
|
Gironi |
Massimo |
|
Born
in Prato |
(FI) |
on
24/07/1974 |
-
Fiscal Code : GRNMSM74L24G999Z |
|
|
Residence: |
Colle |
,
6 |
-
59016 |
Poggio
a Caiano |
(PO) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Managing
Director |
01/02/1999 |
|
No
Prejudicial events are reported |
|
No
Protests registered |
|
Gironi |
Simone |
|
Born
in Prato |
(FI) |
on
23/07/1978 |
-
Fiscal Code : GRNSMN78L23G999O |
|
|
Residence: |
Colle |
,
6 |
-
59016 |
Poggio
a Caiano |
(PO) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Managing
Director |
01/02/1999 |
|
No
Prejudicial events are reported |
|
No
Protests registered |
Companies
connected to members *
*checkings
have been performed on a national scale.
In
this module are listed the companies in which members hold or have holded
positions.
|
Gironi |
Gabriele |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
G.m.g.
Filati Stock Service S.r.l. |
Prato
(PO) - IT - |
01982510974 |
Director |
Active |
Registered |
|
Quarto
Girone S.r.l. |
Prato
(PO) - IT - |
02239460971 |
Sole
Director |
Active |
Registered |
|
Immobiliare
Elisa Bi S.r.l. |
Prato
(PO) - IT - |
02239480979 |
Director |
Withdrawn |
Registered |
|
Gironi |
Massimo |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
G.m.g.
Filati Stock Service S.r.l. |
Prato
(PO) - IT - |
01982510974 |
Director |
Active |
Registered |
|
Gironi |
Simone |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
G.m.g.
Filati Stock Service S.r.l. |
Prato
(PO) - IT - |
01982510974 |
Board
Chairman |
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.
Capital
Shareholders
Shareholders'
list as at date of data collection:
|
Firm's
Style / Name |
Seat
/ Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Gironi
Rolando |
Poggio
a Caiano - IT - |
GRNRND37S13G999B |
4.160
.Eur |
20,00 |
|
Gironi
Gabriele |
Poggio
a Caiano - IT - |
GRNGRL70A01G999W |
4.160
.Eur |
20,00 |
|
Gironi
Massimo |
Poggio
a Caiano - IT - |
GRNMSM74L24G999Z |
4.160
.Eur |
20,00 |
|
Gironi
Simone |
Poggio
a Caiano - IT - |
GRNSMN78L23G999O |
4.160
.Eur |
20,00 |
|
Lapucci
Graziella |
LPCGZL47D69I514P |
4.160
.Eur |
20,00 |
Direct
Participations
The
Company under review has participations in the following Companies:
|
Firm's
Style |
Seat |
Fiscal
Code |
Owned
Shares Amount |
%
Ownership |
since |
until |
Share
Status |
|
G.m.g.
Filati Stock Service S.r.l. |
Prato
- IT - |
01982510974 |
15.000
.Eur |
50,00 |
Active |
||
|
Quarto
Girone S.r.l. |
Prato
- IT - |
02239460971 |
400
.Eur |
4,00 |
Active |
Firm's
location and structure
In
order to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
Giuseppe
Garibaldi |
,
80 |
-
51037 |
-
Montale |
(PT) |
-
IT - |
|
Legal
mail |
:
TREGSRL@MESSAGGIPEC.IT |
|
Employees |
:
2 |
|
Fittings
and Equipment for a value of 200.000 |
Eur |
|
Stocks
for a value of 390.000 |
Eur |
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
The company is active since 1996
Balance sheets for the years 2012, 2013 and 2014 were analyzed.
Under an economic point of view, profits were registered during the last years with a r.o.e. of 7,75% in 2014 with an increase in 2014 (+21,47%).
The operating result in 2014 was positive (7,37%) and in line with the sector's average.
The operating result is positive and amounts to Eur. 167.909 increasing if compared to the yeart 2013.
The gross operating margin of the latest financial year is of Eur. 189.679 with a 30,12% growth.
The analysis shows a fair financial position as the indebtedness volume is acceptable (2,33) and decreasing as against 2013.
Subject can manage an equity capital funds for an amount of Eur. 518.775 , unchanged as opposed to the preceding year.
In the year 2014 total debts amounted to Eur. 1.500.961 on the same levels as the year before.
Liquidity is good.
The financial management generated a cash flow of Eur. 61.955.
During 2014 financial year labour costs amounted to Eur. 127.466, with a 4,42% incidence on production costs. , whereas the incidence of such costs on sales revenues is equal to 4,18%.
The financial management is marked by a high incidence of financial charges in relation to sales revenues (-2,74%).
Financial Data
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
3.052.747 |
|
Profit
(Loss) for the period |
40.185 |
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
2.513.127 |
|
Profit
(Loss) for the period |
21.128 |
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
2.538.637 |
|
Profit
(Loss) for the period |
19.435 |
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
2.270.698 |
|
Profit
(Loss) for the period |
13.733 |
|
Complete
balance-sheet for the year |
al
31/12/2010 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
1.932.518 |
|
Profit
(Loss) for the period |
26.040 |
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 31/12/2014 - 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 |
|
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|
|
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 |
0,04 |
0,17 |
0,06 |
0,27 |
|
Elasticity
Ratio |
Units |
0,96 |
0,83 |
0,94 |
0,71 |
|
Availability
of stock |
Units |
0,17 |
0,82 |
0,18 |
0,20 |
|
Total
Liquidity Ratio |
Units |
0,78 |
0,01 |
0,77 |
0,45 |
|
Quick
Ratio |
Units |
0,04 |
0,01 |
0,01 |
0,01 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
2,33 |
n.c. |
2,45 |
2,05 |
|
Self
Financing Ratio |
Units |
0,23 |
0,91 |
0,25 |
0,26 |
|
Capital
protection Ratio |
Units |
0,88 |
0,91 |
0,91 |
0,77 |
|
Liabilities
consolidation quotient |
Units |
0,18 |
n.c. |
0,02 |
0,17 |
|
Financing |
Units |
2,89 |
n.c. |
2,49 |
2,43 |
|
Permanent
Indebtedness Ratio |
Units |
0,33 |
0,95 |
0,26 |
0,41 |
|
M/L
term Debts Ratio |
Units |
0,10 |
0,04 |
0,01 |
0,08 |
|
Net
Financial Indebtedness Ratio |
Units |
n.c. |
0,00 |
n.c. |
0,78 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
7,37 |
5,58 |
4,67 |
1,63 |
|
Current
ratio |
Units |
1,68 |
n.c. |
1,53 |
1,27 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
1,38 |
n.c. |
1,25 |
0,86 |
|
Structure's
primary quotient |
Units |
5,08 |
5,33 |
4,45 |
1,07 |
|
Treasury's
primary quotient |
Units |
0,07 |
n.c. |
0,02 |
0,02 |
|
Rate
of indebtedness ( Leverage ) |
% |
439,28 |
110,30 |
403,60 |
370,05 |
|
Current
Capital ( net ) |
Value |
882.646 |
447.790 |
617.465 |
571.296 |
|
RETURN |
|||||
|
Return
on Sales |
% |
2,03 |
1,47 |
1,24 |
1,30 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
7,75 |
4,32 |
4,15 |
-0,89 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
16,26 |
11,63 |
11,27 |
2,00 |
|
Return
on Investment ( R.O.I. ) |
% |
7,37 |
24,11 |
6,22 |
1,87 |
|
Return/
Sales |
% |
5,50 |
5,18 |
4,63 |
1,81 |
|
Extra
Management revenues/charges incid. |
% |
23,93 |
16,24 |
16,55 |
4,33 |
|
Cash
Flow |
Value |
61.955 |
36.819 |
31.432 |
44.316 |
|
Operating
Profit |
Value |
167.909 |
130.080 |
117.451 |
59.860 |
|
Gross
Operating Margin |
Value |
189.679 |
145.771 |
129.448 |
144.930 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
n.c. |
n.c. |
n.c. |
114,91 |
|
Debts
to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
108,86 |
|
Average
stock waiting period |
Days |
45,93 |
63,23 |
47,03 |
76,19 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,34 |
4,66 |
1,34 |
1,01 |
|
Rate
of stock return |
Units |
7,84 |
5,69 |
7,66 |
4,72 |
|
Labour
cost incidence |
% |
4,18 |
3,39 |
3,60 |
15,97 |
|
Net
financial revenues/ charges incidence |
% |
-2,74 |
-2,91 |
-2,55 |
-2,33 |
|
Labour
cost on purchasing expenses |
% |
4,42 |
3,56 |
3,78 |
16,13 |
|
Short-term
financing charges |
% |
5,57 |
n.c. |
5,55 |
3,86 |
|
Capital
on hand |
% |
74,65 |
21,47 |
74,41 |
98,78 |
|
Sales
pro employee |
Value |
1.017.582 |
1.256.563 |
1.269.318 |
196.263 |
|
Labour
cost pro employee |
Value |
42.488 |
42.622 |
45.737 |
32.990 |
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 246 significant companies.
The
companies cash their credits on an average of 115 dd.
The
average duration of suppliers debts is about 109 dd.
The
sector's profitability is on an average of 1,30%.
The
labour cost affects the turnover in the measure of 15,97%.
Goods
are held in stock in a range of 76 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,01.
The
employees costs represent the 16,13% of the production costs.
Statistical
Detrimental Data
Statistically
the trade activity passes through serious crises.
The
area is statistically considered remarkably risky.
In
the region 24.960 protested subjects are found; in the province they count to
2.482.
The
insolvency index for the region is 0,70, , while for the province it is 0,91.
Total
Bankrupt companies in the province : 1.559.
Total
Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
EUR |
1 |
Rs. 70.64 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.