|
Report No. : |
355581 |
|
Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CONVEL S.R.L. |
|
|
|
|
Registered Office : |
Via Prati, 11 Povolaro 36031 - Dueville
(Vi) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.06.1995 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of otehr mechanic products and
other general-purpose machinery. |
|
|
|
|
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 |
|
CONVEL S.R.L. |
|
Via Prati, 11 POVOLARO 36031 - Dueville
(VI) -IT- |
|
Fiscal Code |
: |
02435850249 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
28/06/1995 |
|
Equity |
: |
200.000 |
|
Turnover Range |
: |
1.000.000/1.250.000 |
|
Number of Employees |
: |
from 1 to 5 |
Manufacture of otehr mechanic products and
other general-purpose machinery
Legal Form : Limited liability company
|
Fiscal Code : 02435850249 |
|
Chamber of Commerce no. : 231003 of Vicenza
since 16/12/1994 |
|
Firms' Register : 31500 of Vicenza |
|
V.A.T. Code : 02435850249 |
|
Establishment date |
: 26/10/1994 |
|
|
Start of Activities |
: 28/06/1995 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 24.000 |
|
|
Subscribed Capital |
: 24.000 |
|
|
Paid up Capital |
: 24.000 |
|
Legal mail : |
CONVEL@LEGALMAIL.IT |
|
Gallo |
Andrea |
|
Born in Vicenza |
(VI) |
on 14/08/1966 |
- Fiscal Code : GLLNDR66M14L840V |
|
Residence: |
Vivaldi |
, 13 |
- 36030 |
Costabissara |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
08/04/2013 |
||
|
Director |
08/04/2013 |
||
|
Managing Director |
08/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Veronesi |
Andrea |
|
Born in Vicenza |
(VI) |
on 22/09/1961 |
- Fiscal Code : VRNNDR61P22L840P |
|
Residence: |
Colonnello Casanova |
, 38 |
- 36100 |
Vicenza |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/04/2013 |
||
|
Managing Director |
08/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Lovato |
Giovanni |
|
Born in Vicenza |
(VI) |
on 12/01/1973 |
- Fiscal Code : LVTGNN73A12L840K |
|
Residence: |
Tribollo |
, 58 |
- 36010 |
Monticello Conte Otto |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
08/04/2013 |
||
|
Managing Director |
08/04/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
*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.
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Gallo Andrea |
Costabissara - IT - |
GLLNDR66M14L840V |
8.000 .Eur |
33,33 |
|
Veronesi Andrea |
Vicenza - IT - |
VRNNDR61P22L840P |
8.000 .Eur |
33,33 |
|
Lovato Giovanni |
Monticello Conte Otto - IT - |
LVTGNN73A12L840K |
8.000 .Eur |
33,33 |
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 |
|
Prati |
, 11 |
- 36031 |
- Dueville |
(VI) |
- IT - |
|
Legal mail |
: CONVEL@LEGALMAIL.IT |
|
Employees |
: 5 |
|
Fittings and Equipment for a value of
10.000 |
Eur |
|
Stocks for a value of 920.000 |
Eur |
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 1995
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 19,35% in 2014 and with an
upward trend in turnover trend during the last financial year (more then 100%
in 2014).
The return on Investment in the last
financial year was positive (4,36%) and in line with the sector's average.
An operating result of Eur. 69.885 has been
registered. with a more then 100% growth.
The G.O.M. amounted to Eur. 82.587 showing an
upward trend if compared to 2013.
The financial position is not well balanced
as the volume of debts is fairly remarkable if compared to shareholder's
equity, in fact total debts are 4,9 with an upward trend.
The equity capital is equal to Eur. 188.815 ,
stable in comparison with the value of the previous year.
Eur. 1.398.900 is the amount of total debts,
both commercial and of different nature, with a growth equal to 28,75%.
The company does not exceed in bank borrowings;
the recourse to suppliers' credit is also limited below the sector's average.
Payments are supported by good current
assets.
Credits are collected in 30,63 days on the
average. , a better value than the sector's average.
As far as the cash flow is concerned during
the latest financial year it amounted to Eur. 49.245
Labour cost amounts to Eur. 245.110, with a
15,89% incidence on production costs. , with a 20,93% incidence on turnover.
Limited financial charges in relation to
sales volume.
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.171.022 |
|
Profit (Loss) for the period |
36.543 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
453.555 |
|
Profit (Loss) for the period |
8.575 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
687.267 |
|
Profit (Loss) for the period |
13.915 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
849.215 |
|
Profit (Loss) for the period |
14.733 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
277.212 |
|
Profit (Loss) for the period |
-7.365 |
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 |
0,03 |
0,04 |
0,19 |
0,18 |
|
Elasticity Ratio |
Units |
0,95 |
0,94 |
0,68 |
0,79 |
|
Availability of stock |
Units |
0,57 |
0,40 |
0,18 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,37 |
0,54 |
0,50 |
0,52 |
|
Quick Ratio |
Units |
0,30 |
0,20 |
0,31 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
4,90 |
3,92 |
n.c. |
3,01 |
|
Self Financing Ratio |
Units |
0,12 |
0,16 |
0,70 |
0,19 |
|
Capital protection Ratio |
Units |
0,68 |
0,85 |
0,81 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,06 |
0,16 |
|
Financing |
Units |
7,41 |
5,12 |
0,40 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,13 |
0,17 |
0,72 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,02 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
n.c. |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,34 |
4,58 |
3,73 |
1,65 |
|
Current ratio |
Units |
1,09 |
1,13 |
2,41 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,43 |
0,65 |
1,78 |
0,86 |
|
Structure's primary quotient |
Units |
3,99 |
4,42 |
3,64 |
1,02 |
|
Treasury's primary quotient |
Units |
0,34 |
0,24 |
1,11 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
849,66 |
615,57 |
142,88 |
509,92 |
|
Current Capital ( net ) |
Value |
120.257 |
137.521 |
115.179 |
330.495 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,21 |
5,41 |
4,24 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
19,35 |
4,04 |
6,83 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
35,82 |
9,86 |
14,42 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
4,36 |
2,00 |
9,17 |
4,89 |
|
Return/ Sales |
% |
5,97 |
5,76 |
3,88 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
52,29 |
32,80 |
52,12 |
29,96 |
|
Cash Flow |
Value |
49.245 |
24.528 |
29.147 |
165.166 |
|
Operating Profit |
Value |
69.885 |
26.144 |
26.699 |
225.594 |
|
Gross Operating Margin |
Value |
82.587 |
42.097 |
41.931 |
376.080 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
30,63 |
n.c. |
n.c. |
111,07 |
|
Debts to suppliers average term |
Days |
55,00 |
n.c. |
n.c. |
127,44 |
|
Average stock waiting period |
Days |
282,91 |
411,57 |
26,78 |
62,88 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,73 |
0,35 |
2,36 |
1,10 |
|
Rate of stock return |
Units |
1,27 |
0,87 |
13,44 |
5,58 |
|
Labour cost incidence |
% |
20,93 |
22,25 |
14,39 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
-0,19 |
-1,11 |
-0,12 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
15,89 |
11,76 |
14,37 |
18,99 |
|
Short-term financing charges |
% |
0,26 |
0,52 |
2,19 |
2,55 |
|
Capital on hand |
% |
137,00 |
288,10 |
42,35 |
90,89 |
|
Sales pro employee |
Value |
167.288 |
151.185 |
229.089 |
199.007 |
|
Labour cost pro employee |
Value |
35.015 |
33.640 |
32.964 |
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 |
: |
831.356 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region
(in Eur..) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
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 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.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
EUR |
1 |
Rs.72.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.