|
Report No. : |
353887 |
|
Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITALIMPIANTI ORAFI
S.P.A. |
|
|
|
|
Registered Office : |
Via Provinciale
Di Civitella, 8 Badia Al Pino, 52041 -
Civitella in Val di Chiana (AR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
26.08.1972 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of Other mechanic products and other general-purpose
machinery |
|
|
|
|
No. of Employees : |
From 36 to 50 |
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 |
ITALIMPIANTI ORAFI S.P.A.
Via Provinciale
Di Civitella, 8 BADIA AL PINO
52041 - Civitella in Val di Chiana (AR) -IT-
|
Fiscal Code |
: |
00137240511 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
26/08/1972 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
from 36 to 50 |
Manufacture of other mechanic products and other general-purpose
machinery
Legal Form : Joint stock company
|
Fiscal Code : 00137240511 |
|
Foreign Trade Reg. no. : AR003573 since 21/12/1991 |
|
Foreign Trade Reg. no. : 3573 of Arezzo since 21/12/1991 |
|
Chamber of Commerce no. : 57676 of Arezzo since 01/09/1972 |
|
Firms' Register : AR002-2427 of Arezzo since 19/02/1996 |
|
V.A.T. Code : 00137240511 |
|
Tribunal Co. Register : 2427 of |
|
Foundation date |
: 26/08/1972 |
|
|
Establishment date |
: 26/08/1972 |
|
|
Start of Activities |
: 26/08/1972 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 520.000 |
|
|
Subscribed Capital |
: 520.000 |
|
|
Paid up Capital |
: 520.000 |
|
Legal mail : |
ITALIMPIANTIORAFI@PEC.IT |
|
|
Crocini |
Luciano |
|
|
Born in Arezzo |
(AR) |
on 30/08/1950 |
- Fiscal Code : CRCLCN50M30A390E |
|
|
Residence: |
Alpe Della Luna |
, 9 |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/05/2014 |
||
|
Managing Director |
28/05/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Paolucci |
Giuseppe |
|
|
Born in Arezzo |
(AR) |
on 18/03/1957 |
- Fiscal Code : PLCGPP57C18A390B |
|
|
Residence: |
Il Matto |
, 59/G |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/05/2014 |
|
|
Guidali |
Roberto |
|
|
Born in Varese |
(VA) |
on 25/05/1964 |
- Fiscal Code : GDLRRT64E25L682S |
|
|
Residence: |
Trieste |
, 20 |
- 22076 |
Mozzate |
(CO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/05/2014 |
||
|
Director |
28/05/2014 |
||
|
Police Licence's Proprietor |
|
|
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.
|
|
Guidali |
Roberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Tecnoenergia S.n.c. Di Casarotto EnricaE C. |
Milano (MI) - IT - |
05641210967 |
Partner |
Withdrawn |
Registered |
|
Stiledonna S.a.s. Di Macaluso Maria E C. |
Mozzate (CO) - IT - |
02764980138 |
Limited Partner |
Active |
Registered |
|
Tower Crane Noli Srl |
Mozzate (CO) - IT - |
03185540139 |
Director |
Withdrawn |
Registered |
|
Mozzate Immobiliare S.r.l. |
Inzago (MI) - IT - |
05709890965 |
Sole Director |
Withdrawn |
Registered |
|
Mozzate Immobiliare S.r.l. |
Inzago (MI) - IT - |
05709890965 |
Director |
Active |
Registered |
|
Ecomet Refining S.r.l. |
Spino d'Adda (CR) - IT - |
01551890195 |
Director |
Active |
Registered |
|
Ecomet Refining S.r.l. |
Spino d'Adda (CR) - IT - |
01551890195 |
Assistant board
Chairman |
Active |
Registered |
|
Immobiliare Mattei S.r.l. |
Mozzate (CO) - IT - |
03569910130 |
Director |
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 |
|
Italimpianti Orafi S.p.a. |
Civitella in Val di Chiana - IT - |
00137240511 |
176.800 .Eur |
34,00 |
|
Crocini Luciano |
Arezzo - IT - |
CRCLCN50M30A390E |
52.000 .Eur |
10,00 |
|
Paolucci Giuseppe |
Arezzo - IT - |
PLCGPP57C18A390B |
15.600 .Eur |
3,00 |
|
Guidali Roberto |
Mozzate - IT - |
GDLRRT64E25L682S |
265.200 .Eur |
51,00 |
|
Pastorelli Cesare |
PSTCSR75D08A390B |
10.400 .Eur |
2,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Italimpianti Orafi S.p.a. |
Civitella in Val di Chiana - IT - |
00137240511 |
176.800 .Eur |
34,00 |
Active |
||
|
Arezzo Fiere E Congressi - S.r.l. |
Arezzo - IT - |
00212970511 |
9.802 .Eur |
0,02 |
Active |
||
|
Ecomet Refining S.r.l. |
Spino d'Adda - IT - |
01551890195 |
23.750 .Eur |
47,50 |
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Provinciale Di Civitella |
, 8 |
- 52040 |
- Civitella in Val di Chiana |
(AR) |
- IT - |
|
PHONE |
: 0575491 |
|
FAX |
: 0575449300 |
|
Legal mail |
: ITALIMPIANTIORAFI@PEC.IT |
|
Employees |
: 49 |
|
Fittings and Equipment for a value of 89.000 |
Eur |
|
Stocks for a value of 390.000 |
Eur |
|
Furniture and fittings for a value of 52.000 |
Eur |
|
Vehicles for a value of 26.000 |
Eur |
The firm operates abroad as importer / exporter..
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Ireland |
|
- Hungary |
|
- France |
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.
The company is active since 1972
The analysis is based on the latest 3 balance sheets.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 11,77% in 2014
The return on Investment in the last financial year was positive (4,51%)
and in line with the sector's average.
The amount of the operating result for the year 2014 is of Eur. 318.446
with a -69,1% fall as against the year 2013.
During the latest financial year the gross operating margin amounted to
Eur. 393.394 recording a -64,1% decrease.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,29) lower than in 2013.
The management generated equity capital for an amount of Eur. 2.578.520
, stable in comparison with the value of the previous year.
Total debts (both short and M/L term) equals Eur. 3.822.585, , with a
fall of -25,48%.
Bank and suppliers credit recourse is limited, 64,89 gg. is payment
average period which is also lower than the sector average.
The management determines a good range of liquidity.
On average trade credits are collected in 50,66 days. , that compared to
the sector's average is shorter.
The financial management generated a cash flow of Eur. 378.489.
Labour cost expenses amount to Eur. 2.597.635 , representing 19,8% on
the total of production costs. and a 19,74% incidence on sales volumes.
Financial incomes cover financial charges.
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.161.984 |
|
Profit (Loss) for the period |
303.541 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.189.600 |
|
Profit (Loss) for the period |
665.723 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.527.482 |
|
Profit (Loss) for the period |
562.644 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.647.669 |
|
Profit (Loss) for the period |
440.494 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.660.110 |
|
Profit (Loss) for the period |
128.116 |
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 |
0,13 |
0,12 |
0,13 |
0,18 |
|
Elasticity Ratio |
Units |
0,86 |
0,87 |
0,86 |
0,79 |
|
Availability of stock |
Units |
0,06 |
0,06 |
0,10 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,80 |
0,81 |
0,75 |
0,52 |
|
Quick Ratio |
Units |
0,43 |
0,49 |
0,52 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,29 |
1,83 |
1,89 |
3,01 |
|
Self Financing Ratio |
Units |
0,37 |
0,28 |
0,27 |
0,19 |
|
Capital protection Ratio |
Units |
0,68 |
0,48 |
0,49 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,14 |
0,11 |
0,10 |
0,16 |
|
Financing |
Units |
1,48 |
2,25 |
2,36 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,44 |
0,35 |
0,34 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,07 |
0,07 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,37 |
2,96 |
2,71 |
1,65 |
|
Current ratio |
Units |
1,58 |
1,36 |
1,32 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,48 |
1,27 |
1,16 |
0,86 |
|
Structure's primary quotient |
Units |
2,78 |
2,39 |
2,18 |
1,02 |
|
Treasury's primary quotient |
Units |
0,80 |
0,77 |
0,80 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
273,86 |
353,77 |
363,73 |
509,92 |
|
Current Capital ( net ) |
Value |
2.231.559 |
1.858.723 |
1.608.654 |
330.495 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,88 |
3,45 |
3,33 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
11,77 |
29,26 |
26,42 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
20,21 |
50,96 |
42,43 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
4,51 |
12,81 |
9,97 |
4,89 |
|
Return/ Sales |
% |
2,42 |
4,86 |
4,17 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
95,32 |
64,58 |
72,85 |
29,96 |
|
Cash Flow |
Value |
378.489 |
730.860 |
617.028 |
165.166 |
|
Operating Profit |
Value |
318.446 |
1.030.774 |
772.355 |
225.594 |
|
Gross Operating Margin |
Value |
393.394 |
1.095.911 |
826.739 |
376.080 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
50,66 |
34,45 |
32,33 |
111,07 |
|
Debts to suppliers average term |
Days |
64,89 |
38,69 |
48,99 |
127,44 |
|
Average stock waiting period |
Days |
10,80 |
8,25 |
15,44 |
62,88 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,86 |
2,63 |
2,39 |
1,10 |
|
Rate of stock return |
Units |
33,33 |
43,64 |
23,31 |
5,58 |
|
Labour cost incidence |
% |
19,74 |
12,18 |
11,77 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
0,36 |
0,65 |
0,71 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
19,80 |
12,82 |
12,16 |
18,99 |
|
Short-term financing charges |
% |
1,08 |
0,54 |
0,85 |
2,55 |
|
Capital on hand |
% |
53,65 |
37,98 |
41,80 |
90,89 |
|
Sales pro employee |
Value |
162.493 |
264.870 |
463.187 |
199.007 |
|
Labour cost pro employee |
Value |
32.069 |
32.269 |
54.532 |
34.820 |
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 |
: |
333.385 |
|
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 1.964 significant companies.
The companies cash their credits on an average of 111 dd.
The average duration of suppliers debts is about 127 dd.
The sector's profitability is on an average of 3,79%.
The labour cost affects the turnover in the measure of 18,94%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and the resources used to
realize it is about 1,10.
The employees costs represent the 18,99% 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 2.227.
The insolvency index for the region is 0,70, , while for the province it
is 0,67.
Total Bankrupt companies in the province : 1.151.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.63 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.40 |
|
ITL |
1 |
Rs.72.42 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NIT |
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.