|
Report No. : |
355239 |
|
Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LA MECCANICA COSTRUZIONE
MACCHINE TESSIL I - S.P.A. |
|
|
|
|
Registered Office : |
Via Delle
Industrie, 174 24059 - Urgnano
(BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
03.05.1984 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture
of Machinery for Textile, Apparel and Leather Industries (Including Spare
Parts and Accessories) |
|
|
|
|
No. of Employees : |
From 26 to 35 |
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 : |
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 |
LA
MECCANICA COSTRUZIONE MACCHINE TESSIL I - S.P.A.
Via Delle Industrie, 174
24059 – Urgnano (BG) -IT-
|
Fiscal
Code |
: |
01531260162 |
|
Legal
Form |
: |
Joint
stock company |
|
start
of Activities |
: |
03/05/1984 |
|
Equity |
: |
750.000
|
|
Turnover
Range |
: |
6.500.000/7.750.000
|
|
Number
of Employees |
: |
from
26 to 35 |
Manufacture
of machinery for textile, apparel and leather industries (including spare parts
and accessories)
Legal
Form : Joint stock company
|
Fiscal
Code : 01531260162 |
|
Foreign
Trade Reg. no. : BG009556 since 19/12/1991 |
|
Chamber
of Commerce no. : 214178 of Bergamo since 22/05/1984 |
|
V.A.T.
Code : 01531260162 |
|
Establishment
date |
:
03/05/1984 |
|
|
Start
of Activities |
:
03/05/1984 |
|
|
Legal
duration |
:
31/12/2030 |
|
|
Nominal
Capital |
:
517.000 |
|
|
Subscribed
Capital |
:
517.000 |
|
|
Paid
up Capital |
:
517.000 |
|
Legal
mail : |
LA-MECCANICA@PEC.POXTA.IT |
|
|
Gastoldi |
Paolino |
|
|
Born
in Urgnano |
(BG) |
on
08/04/1939 |
-
Fiscal Code : GSTPLN39D08L502U |
|
|
Residence: |
Comun
Nuovo |
,
194 |
-
24059 |
Urgnano |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
20/05/2015 |
||
|
Board
Chairman |
20/05/2015 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Gastoldi |
Marco |
|
|
Born
in Bergamo |
(BG) |
on
12/04/1974 |
-
Fiscal Code : GSTMRC74D12A794I |
|
|
Residence: |
Rocca |
,
76 |
-
24059 |
Urgnano |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
20/05/2015 |
|
|
Gastoldi |
Serena |
|
|
Born
in Urgnano |
(BG) |
on
28/06/1967 |
-
Fiscal Code : GSTSRN67H68L502X |
|
|
Residence: |
Rocca |
,
76 |
-
24059 |
Urgnano |
(BG) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
20/05/2015 |
||
|
Assistant
board Chairman |
20/05/2015 |
|
|
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.
|
|
Gastoldi |
Paolino |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Real
Time Automation S.r.l. |
Oggiona
Con Santo Stefano (VA) - IT - |
02405570124 |
Director |
Active |
Registered |
|
Real
Time Automation S.r.l. |
Oggiona
Con Santo Stefano (VA) - IT - |
02405570124 |
Board
Chairman |
Active |
Registered |
|
Lm
Prints - S.r.l. |
Bergamo
(BG) - IT - |
03605420169 |
Sole
Director |
Active |
Registered |
|
Lm
Prints - S.r.l. |
Bergamo
(BG) - IT - |
03605420169 |
Sole
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 |
|
Gastoldi
Paolino |
Urgnano
- IT - |
GSTPLN39D08L502U |
465.300
.Eur |
90,00 |
|
Gastoldi
Marco |
Urgnano
- IT - |
GSTMRC74D12A794I |
25.850
.Eur |
5,00 |
|
Gastoldi
Serena |
Urgnano
- IT - |
GSTSRN67H68L502X |
25.850
.Eur |
5,00 |
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 |
(Workshop) |
|
Delle
Industrie |
,
174 |
-
24059 |
-
Urgnano |
(BG) |
-
IT - |
|
Total
Surface: 5.000 Sq.mt. |
|
PHONE |
:
035893099 |
|
FAX |
:
035893120 |
|
Legal
mail |
:
LA-MECCANICA@PEC.POXTA.IT |
|
Employees |
:
32 |
|
Fittings
and Equipment for a value of 57.000 |
Eur |
|
Stocks
for a value of 1.460.000 |
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 more than 50% of the global turnover.
Products
abroad are placed by :
|
-
its own agents |
|
-
direct orders from foreign companies |
Import
comes generally from the following nations:
|
-
Italy |
Export
is mainly towards:
|
-
Bulgaria |
|
-
Italy |
|
-
Austria |
|
-
France |
|
-
Greece |
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 1984
The analysis is based on the latest 3 balance
sheets.
During the last years, it achieved profits
(r.o.e. 1,41% on 2014) with a good increase in turnover (+36,09% in 2014
compared to 2013 and +13,5% in 2013 compared to 2012).
The operating result was positive in the last
financial year (2,01%) and reflects the field's average.
The operating result is positive and amounts
to Eur. 135.320 on stable levels if compared to the previous year.
During the latest financial year the gross
operating margin amounted to Eur. 271.172 with no sensible increase as against
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 6,22 increasing as against 2013.
The equity capital is equal to Eur. 737.372 ,
stable in comparison with the value of the previous year.
Financial indebtedness is considered fair
whereas the recourse to commercial borrowings is high even in comparison with
the sector's.
Liquid assets are not adequate to subject's
needs.
Trade credits average terms are slow, on
average 113,75 days. but in line with the sector.
As far as the cash flow is concerned during
the latest financial year it amounted to Eur. 146.282
Labour cost amounts to Eur. 1.599.185, with a
27,52% incidence on production costs. , with a 24,49% 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 |
6.530.655 |
|
Profit
(Loss) for the period |
10.430 |
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
4.798.497 |
|
Profit
(Loss) for the period |
36.089 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
4.227.602 |
|
Profit
(Loss) for the period |
93.376 |
|
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
6.899.808 |
|
Profit
(Loss) for the period |
20.109 |
|
|
Complete
balance-sheet for the year |
al
31/12/2010 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
8.010.773 |
|
Profit
(Loss) for the period |
59.558 |
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 |
0,43 |
0,38 |
0,38 |
0,18 |
|
Elasticity
Ratio |
Units |
0,56 |
0,62 |
0,62 |
0,80 |
|
Availability
of stock |
Units |
0,22 |
0,37 |
0,29 |
0,24 |
|
Total
Liquidity Ratio |
Units |
0,35 |
0,25 |
0,33 |
0,48 |
|
Quick
Ratio |
Units |
0,03 |
0,01 |
0,02 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
6,22 |
3,85 |
3,63 |
3,25 |
|
Self
Financing Ratio |
Units |
0,11 |
0,12 |
0,12 |
0,19 |
|
Capital
protection Ratio |
Units |
0,28 |
0,24 |
0,12 |
0,63 |
|
Liabilities
consolidation quotient |
Units |
0,17 |
0,77 |
0,88 |
0,19 |
|
Financing |
Units |
6,49 |
5,98 |
5,87 |
3,80 |
|
Permanent
Indebtedness Ratio |
Units |
0,23 |
0,48 |
0,52 |
0,36 |
|
M/L
term Debts Ratio |
Units |
0,12 |
0,36 |
0,40 |
0,11 |
|
Net
Financial Indebtedness Ratio |
Units |
2,60 |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
0,54 |
1,27 |
1,38 |
1,75 |
|
Current
ratio |
Units |
0,79 |
1,33 |
1,35 |
1,21 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,49 |
0,53 |
0,72 |
0,81 |
|
Structure's
primary quotient |
Units |
0,25 |
0,31 |
0,32 |
1,03 |
|
Treasury's
primary quotient |
Units |
0,04 |
0,03 |
0,05 |
0,06 |
|
Rate
of indebtedness ( Leverage ) |
% |
910,99 |
851,51 |
838,75 |
516,42 |
|
Current
Capital ( net ) |
Value |
-994.264 |
947.409 |
934.764 |
422.465 |
|
RETURN |
|||||
|
Return
on Sales |
% |
2,24 |
4,22 |
9,86 |
3,35 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
1,41 |
4,96 |
13,52 |
5,13 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
9,21 |
13,66 |
19,85 |
14,77 |
|
Return
on Investment ( R.O.I. ) |
% |
2,01 |
2,45 |
-0,08 |
4,16 |
|
Return/
Sales |
% |
2,07 |
3,16 |
-0,11 |
4,11 |
|
Extra
Management revenues/charges incid. |
% |
7,71 |
23,82 |
n.c. |
28,57 |
|
Cash
Flow |
Value |
146.282 |
202.479 |
416.762 |
122.482 |
|
Operating
Profit |
Value |
135.320 |
151.520 |
-4.791 |
144.752 |
|
Gross
Operating Margin |
Value |
271.172 |
317.910 |
318.595 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
113,75 |
n.c. |
n.c. |
111,85 |
|
Debts
to suppliers average term |
Days |
216,55 |
n.c. |
n.c. |
128,30 |
|
Average
stock waiting period |
Days |
80,33 |
171,84 |
142,67 |
80,43 |
|
Rate
of capital employed return ( Turnover ) |
Units |
0,97 |
0,78 |
0,73 |
1,08 |
|
Rate
of stock return |
Units |
4,48 |
2,09 |
2,52 |
4,45 |
|
Labour
cost incidence |
% |
24,49 |
31,39 |
32,53 |
19,12 |
|
Net
financial revenues/ charges incidence |
% |
-1,12 |
-1,27 |
-1,46 |
-1,08 |
|
Labour
cost on purchasing expenses |
% |
27,52 |
28,01 |
26,29 |
19,02 |
|
Short-term
financing charges |
% |
1,71 |
1,72 |
1,56 |
2,68 |
|
Capital
on hand |
% |
102,86 |
129,00 |
137,06 |
91,91 |
|
Sales
pro employee |
Value |
133.278 |
102.095 |
100.657 |
198.432 |
|
Labour
cost pro employee |
Value |
32.636 |
32.045 |
32.741 |
35.779 |
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 |
:
|
1.022.428 |
|
Population
living in the region |
:
|
9.393.092 |
|
Number
of families in the region |
:
|
3.858.736 |
Monthly
family expences average in the region (in Eur..) :
|
-
per food products |
:
|
460 |
|
-
per non food products |
:
|
2.090 |
|
-
per energy consume |
:
|
114 |
The
values are calculated on a base of 1.206 significant companies.
The
companies cash their credits on an average of 112 dd.
The
average duration of suppliers debts is about 128 dd.
The
sector's profitability is on an average of 3,35%.
The
labour cost affects the turnover in the measure of 19,12%.
Goods
are held in stock in a range of 80 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,08.
The
employees costs represent the 19,02% of the production costs.
Statistcally
the trade activity shows periods of crisis.
The
area is statistically considered lowly risky.
In
the region 50.886 protested subjects are found; in the province they count to
4.150.
The
insolvency index for the region is 0,55, , while for the province it is 0,41.
Total
Bankrupt companies in the province : 4.376.
Total
Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
|
ITL |
1 |
Rs.72.34 |
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.