|
Report No. : |
357064 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
B-CHEM S.R.L. |
|
|
|
|
Registered Office : |
Via Enzo
Ferrari, 68 62012 - Civitanova Marche (MC) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.12.1982 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacture of Various Chemical Products for Industrial Usage (Including Antidetonating and Anti-Freeze Preparations) · Production of Abrasive Products · Wholesale of Metals and Metalliferous Minerals |
|
|
|
|
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 : |
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 |
B-CHEM
S.R.L.
Via Enzo Ferrari, 68
62012 - Civitanova Marche (MC) -IT-
|
Fiscal
Code |
: |
00780370433 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
28/12/1982 |
|
Equity |
: |
750.000
|
|
Turnover
Range |
: |
9.000.000/10.000.000
|
|
Number
of Employees |
: |
from
26 to 35 |
Manufacture
of various chemical products for industrial usage (including antidetonating and
anti-freeze preparations)
Production
of abrasive products
Wholesale
of metals and metalliferous minerals
Legal
Form : Limited liability company
|
Register
of Handcraft firms : 33044 of Macerata since 21/02/1983 |
|
Fiscal
Code : 00780370433 |
|
Municipal
Licence : 3550 of since 12/01/1998 |
|
Foreign
Trade Reg. no. : MC004947 since 14/03/1996 |
|
Chamber
of Commerce no. : 96633 of Macerata since 09/02/1983 |
|
Firms'
Register : MC023-4544 of Macerata since 19/02/1996 |
|
V.A.T.
Code : 00780370433 |
|
R.
E. C. no. : 22454 of Macerata since 08/09/1997 |
|
Establishment
date |
:
28/12/1982 |
|
|
Start
of Activities |
:
28/12/1982 |
|
|
Legal
duration |
:
31/12/2040 |
|
|
Nominal
Capital |
:
100.000 |
|
|
Subscribed
Capital |
:
100.000 |
|
|
Paid
up Capital |
:
100.000 |
|
Legal
mail : |
B-CHEM@PEC.IT |
|
|
Bernardi |
Beniamino |
|
|
Born
in Sassoferrato |
(AN) |
on
07/06/1935 |
-
Fiscal Code : BRNBMN35H07I461I |
|
|
Residence: |
San
Michele |
,
10 |
-
62012 |
Civitanova
Marche |
(MC) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
01/01/2013 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Bernardi |
Maurizio |
|
|
Born
in Ancona |
(AN) |
on
15/06/1962 |
-
Fiscal Code : BRNMRZ62H15A271M |
|
|
Residence: |
Ciarrocchi |
,
58 |
-
62012 |
Civitanova
Marche |
(MC) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
01/01/2013 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Bernardi |
Cristina |
|
|
Born
in Civitanova Marche |
(MC) |
on
10/07/1965 |
-
Fiscal Code : BRNCST65L50C770X |
|
|
Residence: |
San
Michele |
,
10 |
-
62012 |
Civitanova
Marche |
(MC) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
01/01/2013 |
|
|
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.
Capital
Shareholders
Shareholders'
list as at date of data collection:
|
Firm's
Style / Name |
Seat
/ Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Bernardi
Beniamino |
Civitanova
Marche - IT - |
BRNBMN35H07I461I |
33.333
.Eur |
33,33 |
|
Bernardi
Maurizio |
Civitanova
Marche - IT - |
BRNMRZ62H15A271M |
33.333
.Eur |
33,33 |
|
Bernardi
Cristina |
Civitanova
Marche - IT - |
BRNCST65L50C770X |
33.333
.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 |
|
Enzo
Ferrari |
,
68 |
-
62012 |
-
Civitanova Marche |
(MC) |
-
IT - |
|
Legal
mail |
:
B-CHEM@PEC.IT |
|
- |
Branch |
(Factory) |
since
27/09/2005 |
|
Ciarrocchi, |
,
58 |
-
62012 |
-
Civitanova Marche |
(MC) |
-
IT - |
|
Employees |
:
25 |
|
Assistants |
:
4 |
|
Fittings
and Equipment for a value of 75.000 |
Eur |
|
Stocks
for a value of 370.000 |
Eur |
The
firm has a direct commercial organization
Sales
are on local and provincial scale
Transports
are mainly done using own vehicles and third parties ones
Subject
generally proposes terms of sale between 30 and 60 days.
The
financial means mainly used for sales are drafts and bank
transfers.
Purchase
terms: 60-90-120 days.
Subject
mostly pays its suppliers by issueing of drafts and/or by
by
bank transfers.
The
subject firm uses the following own selling brands:
|
-
marmolit |
|
-
carlo ricco' e f.lli |
|
-
veneziani srl |
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
firm operates with:
|
Bank
Name |
Agency
Name |
Address |
ZIP
Code |
City |
ABI
Code |
CAB
Code |
|
BANCA
DELLE MARCHE SPA |
SEDE
DI CIVITANOVA MARCHE |
CORSO
UMBERTO I, 76 |
62012 |
Civitanova
Marche |
6055 |
68871 |
|
BANCA
POPOLARE DI ANCONA S.P.A. |
SUCCURSALE
DI PORTO CIVITANOVA |
CORSO
UMBERTO I - ANG. VIA BUOZZI |
62012 |
Civitanova
Marche (MC) |
5308 |
68870 |
Subject
is active since 1982
The
analysis is based on the latest 3 balance sheets.
During
the last years, it achieved profits (r.o.e. 47,17% on 2014) but without a
significant increase in the turnover.
The
operating result was positive in the last financial year (6,41%) and in line
with the sector's average.
The
amount of the operating result for the year 2014 is of Eur. 377.232 , with no
sizeable change as opposed to the year before.
The
G.O.M. amounted to Eur. 777.689 with a 32% increase as opposed to the preceding
year.
The
ratio between debts and total assets is fairly high, as it comes out from the
indebtedness (6,58) falling if compared to 2013.
Subject
can manage an equity capital funds for an amount of Eur. 561.813 , increasing
by 34,79% if compared to the year before.
In
the year 2014 total debts amounted to Eur. 4.969.329 , with no sensible
variation.
The
recourse to bank credit is slightly high and also borrowings from suppliers
appear to be high, with an average payment period equal to 122,65 gg. and higher
than sector's average.
Liquid
assets are not adequate.
Credits
are collected in 75,38 days on the average. , a value lower than the sector's
average.
During
financial year 2014 the cash flow amounted to Eur. 665.461
Labour
cost amounts to Eur. 736.538, with a 7,96% incidence on production costs. ,
whereas the incidence on sales revenues is of 7,62%.
The
incidence of the financial charges is of -1,46% on the sales amount.
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
9.664.630 |
|
Profit
(Loss) for the period |
265.004 |
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
9.311.640 |
|
Profit
(Loss) for the period |
130.589 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
8.690.365 |
|
Profit
(Loss) for the period |
29.996 |
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 |
0,54 |
0,52 |
0,54 |
0,33 |
|
Elasticity
Ratio |
Units |
0,46 |
0,47 |
0,45 |
0,65 |
|
Availability
of stock |
Units |
0,06 |
0,08 |
0,08 |
0,15 |
|
Total
Liquidity Ratio |
Units |
0,40 |
0,40 |
0,37 |
0,47 |
|
Quick
Ratio |
Units |
0,03 |
0,01 |
0,01 |
0,01 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
6,58 |
9,12 |
13,74 |
1,60 |
|
Self
Financing Ratio |
Units |
0,10 |
0,07 |
0,06 |
0,28 |
|
Capital
protection Ratio |
Units |
0,35 |
0,45 |
0,76 |
0,69 |
|
Liabilities
consolidation quotient |
Units |
0,35 |
0,41 |
0,04 |
0,21 |
|
Financing |
Units |
8,85 |
12,69 |
14,01 |
2,10 |
|
Permanent
Indebtedness Ratio |
Units |
0,32 |
0,33 |
0,10 |
0,47 |
|
M/L
term Debts Ratio |
Units |
0,23 |
0,27 |
0,04 |
0,10 |
|
Net
Financial Indebtedness Ratio |
Units |
3,46 |
6,64 |
4,10 |
0,66 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
0,60 |
0,64 |
0,19 |
1,28 |
|
Current
ratio |
Units |
0,70 |
0,73 |
0,51 |
1,17 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,60 |
0,61 |
0,42 |
0,90 |
|
Structure's
primary quotient |
Units |
0,18 |
0,13 |
0,12 |
0,90 |
|
Treasury's
primary quotient |
Units |
0,04 |
0,02 |
0,01 |
0,02 |
|
Rate
of indebtedness ( Leverage ) |
% |
1048,08 |
1447,32 |
1579,91 |
353,06 |
|
Current
Capital ( net ) |
Value |
-1.159.148 |
-1.040.309 |
-2.633.019 |
592.597 |
|
RETURN |
|||||
|
Return
on Sales |
% |
6,89 |
4,07 |
3,69 |
3,97 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
47,17 |
31,33 |
7,77 |
2,57 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
75,52 |
43,75 |
17,65 |
9,20 |
|
Return
on Investment ( R.O.I. ) |
% |
6,41 |
5,65 |
3,98 |
3,84 |
|
Return/
Sales |
% |
3,90 |
3,66 |
2,79 |
4,05 |
|
Extra
Management revenues/charges incid. |
% |
70,25 |
38,29 |
12,36 |
25,15 |
|
Cash
Flow |
Value |
665.461 |
378.709 |
320.291 |
316.000 |
|
Operating
Profit |
Value |
377.232 |
341.034 |
242.674 |
279.308 |
|
Gross
Operating Margin |
Value |
777.689 |
589.154 |
532.969 |
532.534 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
75,38 |
84,17 |
88,04 |
104,54 |
|
Debts
to suppliers average term |
Days |
122,65 |
105,34 |
180,04 |
96,16 |
|
Average
stock waiting period |
Days |
13,73 |
18,00 |
20,72 |
50,38 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,64 |
1,54 |
1,42 |
1,16 |
|
Rate
of stock return |
Units |
26,21 |
19,99 |
17,38 |
7,14 |
|
Labour
cost incidence |
% |
7,62 |
7,74 |
8,32 |
13,54 |
|
Net
financial revenues/ charges incidence |
% |
-1,46 |
-1,58 |
-1,97 |
-1,46 |
|
Labour
cost on purchasing expenses |
% |
7,96 |
8,02 |
8,49 |
13,80 |
|
Short-term
financing charges |
% |
2,85 |
2,80 |
3,18 |
3,24 |
|
Capital
on hand |
% |
60,93 |
64,78 |
70,21 |
86,41 |
|
Sales
pro employee |
Value |
420.201 |
423.256 |
395.016 |
352.121 |
|
Labour
cost pro employee |
Value |
32.023 |
32.755 |
32.867 |
44.319 |
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 |
:
|
313.225 |
|
Population
living in the region |
:
|
1.518.780 |
|
Number
of families in the region |
:
|
577.034 |
Monthly
family expences average in the region (in Eur..) :
|
-
per food products |
:
|
496 |
|
-
per non food products |
:
|
1.837 |
|
-
per energy consume |
:
|
122 |
The
values are calculated on a base of 435 significant companies.
The
companies cash their credits on an average of 105 dd.
The
average duration of suppliers debts is about 96 dd.
The
sector's profitability is on an average of 3,97%.
The
labour cost affects the turnover in the measure of 13,54%.
Goods
are held in stock in a range of 50 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,16.
The
employees costs represent the 13,80% of the production costs.
Statistcally
the trade activity shows periods of crisis.
The
area is statistically considered moderately risky.
In
the region 9.333 protested subjects are found; in the province they count to
2.345.
The
insolvency index for the region is 0,62, , while for the province it is 0,76.
Total
Bankrupt companies in the province : 1.502.
Total
Bankrupt companies in the region : 6.005.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
ITL |
1 |
Rs.72.63 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.