|
Report No. : |
357032 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAS ENGINEERING AND PLANNING S.R.L. |
|
|
|
|
Registered Office : |
Via Volta, 5, 23867 – Suello (LC) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.01.1973 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
·
Manufacture of Structural Metal Products ·
General Mechanics |
|
|
|
|
No. of Employees : |
From 36 to 50 |
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 |
SAS ENGINEERING AND PLANNING S.R.L.
Via Volta, 5
23867 – Suello (LC) -IT-
|
Fiscal Code |
: |
00264440132 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/01/1973 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 36 to 50 |
Manufacture of structural metal products
General mechanics
Legal Form : Limited liability company
|
Register of Handcraft firms : 37499 |
|
Register of Handcraft firms : 37499 of Lecco since 05/02/1973 |
|
Fiscal Code : 00264440132 |
|
Foreign Trade Reg. no. : LC006877 since 07/01/1992 |
|
Foreign Trade Reg. no. : 006877 of Lecco since 07/01/1992 |
|
Chamber of Commerce no. : 137342 of Lecco since 07/02/1973 |
|
Firms' Register : of Como |
|
Firms' Register : LC042-5920 of Lecco since 19/02/1996 |
|
V.A.T. Code : 00264440132 |
|
Establishment date |
: 30/06/1981 |
|
|
Start of Activities |
: 15/01/1973 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 15.600 |
|
|
Subscribed Capital |
: 15.600 |
|
|
Paid up Capital |
: 15.600 |
|
Legal mail : |
SAS@PROMOPEC.IT |
|
|
Stefanoni |
Fermo Pietro |
|
|
Born in Cesana Brianza |
(CO) |
on 10/06/1947 |
- Fiscal Code : STFFMP47H10C572O |
|
|
Residence: |
Don Vito Rimoldi |
, 1 |
- 23835 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
19/12/2006 |
||
|
Director |
19/12/2006 |
||
|
Managing Director |
15/01/2007 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Aldeghi |
Giuseppe Mario |
|
|
Born in Cesello Brianza |
(CO) |
on 09/10/1947 |
- Fiscal Code : LDGGPP47R09C572O |
|
|
Residence: |
A. Manzoni |
, 27 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/12/2006 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Stefanoni |
Fermo Mario |
|
|
Born in Cesello Brianza |
(CO) |
on 09/07/1948 |
- Fiscal Code : STFFMM48L09C572S |
|
|
Residence: |
A. Stoppani |
, 4 |
- 22030 |
Cesana Brianza |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/12/2006 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Stefanoni |
Mauro |
|
|
Born in Oggiono |
(CO) |
on 18/09/1976 |
- Fiscal Code : STFMRA76P18G009I |
|
|
Residence: |
Don Rimoldi |
, 1 |
- 23867 |
Suello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
19/12/2011 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Zimbaldi |
Roberto |
|
|
Born in Carate Brianza |
(MB) |
on 15/12/1949 |
- Fiscal Code : ZMBRRT49T15B729K |
|
|
Residence: |
Custoza |
, 8 |
- 20048 |
Carate Brianza |
(MB) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
13/07/2015 |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Stefanoni |
Fermo Pietro |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Comec - S.r.l. |
Lonate Pozzolo (VA) - IT - |
00188460125 |
Director |
Active |
Registered |
|
Mas Project Due S.r.l. |
Suello (LC) - IT - |
06238140153 |
Director |
Withdrawn |
Registered |
|
Mas Project Due S.r.l. |
Suello (LC) - IT - |
06238140153 |
Board Chairman |
Withdrawn |
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 |
|
Stefanoni Fermo Pietro |
Suello - IT - |
STFFMP47H10C572O |
5.200 .Eur |
33,33 |
|
Aldeghi Giuseppe Mario |
Suello - IT - |
LDGGPP47R09C572O |
5.200 .Eur |
33,33 |
|
Stefanoni Fermo Mario |
Cesana Brianza - IT - |
STFFMM48L09C572S |
5.200 .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 |
|
Volta |
, 5 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
PHONE |
: 031655593 |
|
FAX |
: 031657223 |
|
Legal mail |
: SAS@PROMOPEC.IT |
|
- |
Branch |
(Workshop) |
since 16/01/1985 |
|
Volta |
, 2 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
PHONE |
: 031655593 |
|
- |
Branch |
since 05/01/1990 |
|
Don Mario Casati |
, 29 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
since 01/03/2002 |
|
Frazione Borima |
, 16/B |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
(Factory) |
since 03/12/2007 |
|
Per Annone |
, 3 |
- 22030 |
- Suello |
(LC) |
- IT - |
|
- |
Branch |
(Factory) |
since 24/10/2014 |
|
Pescone |
, SNC |
- 22030 |
- Suello |
(LC) |
- IT - |
|
Employees |
: 46 |
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of 420.000 |
Eur |
|
Stocks for a value of 5.370.000 |
Eur |
The firm operates abroad as importer / exporter..
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
Mas Project Due
S.r.l. |
|
|
Per Annone |
, 3 |
, 23867 |
, Suello |
(LC) |
- IT - |
|
|
Fiscal Code: 06238140153 |
|
|
Date |
Merging/splitting-up project: |
24/04/2015 |
|
|
The firm absorbed by merging of |
|
Mas Project Due
S.r.l. |
|
|
Per Annone |
, 3 |
, 23867 |
, Suello |
(LC) |
- IT - |
|
|
Fiscal Code: 06238140153 |
|
|
Date |
: |
23/06/2015 |
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.
Company's starting of activities dates back to 1973.
The eonomic-financial analysis is based on the latest 3 b/s.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 6,96% in 2014
The operating result in 2014 was positive (4,92%) and in line with the
sector's average.
The operating result is positive and amounts to Eur. 887.282 , with no
sizeable change as opposed to the year before.
The G.O.M. amounted to Eur. 1.216.948 ,with no change if compared to the
year before.
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 4,38 falling if compared to 2013.
With regard to equity capital, an amount of Eur. 3.151.485 is
registered. , stable in comparison with the value of the previous year.
During the last financial year total debts volume reached Eur.
14.288.142 (Eur. 230.540 were m/l term ones) with no important change.
Financial indebtedness is considered fair whereas the recourse to
commercial borrowings is high but lined up with the field's average.
This situation arises from a scanty liquidity too.
Trade credits average terms are slow, on average 118,91 days. but on the
same levels as the average of the sector.
The financial management generated a cash flow of Eur. 549.141.
Labour cost amounts to Eur. 1.696.144, with a 13% incidence on
production costs. , with a 15,56% incidence on turnover.
Financial charges have a high incidence (-3,51%) on turnover figures.
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.898.036 |
|
Profit (Loss) for the period |
219.475 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.360.546 |
|
Profit (Loss) for the period |
267.769 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.931.201 |
|
Profit (Loss) for the period |
231.669 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.191.237 |
|
Profit (Loss) for the period |
177.121 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.290.719 |
|
Profit (Loss) for the period |
127.369 |
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 |
0,35 |
0,40 |
0,39 |
0,20 |
|
Elasticity Ratio |
Units |
0,57 |
0,59 |
0,61 |
0,77 |
|
Availability of stock |
Units |
0,30 |
0,16 |
0,22 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,27 |
0,44 |
0,39 |
0,55 |
|
Quick Ratio |
Units |
0,02 |
0,01 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
4,38 |
4,48 |
4,19 |
4,09 |
|
Self Financing Ratio |
Units |
0,17 |
0,17 |
0,18 |
0,15 |
|
Capital protection Ratio |
Units |
0,93 |
0,90 |
0,91 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,08 |
0,09 |
0,16 |
|
Financing |
Units |
4,53 |
4,66 |
4,41 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,22 |
0,23 |
0,25 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,06 |
0,07 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
1,99 |
2,08 |
2,25 |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,62 |
0,58 |
0,64 |
1,34 |
|
Current ratio |
Units |
0,73 |
0,78 |
0,81 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,35 |
0,57 |
0,52 |
0,85 |
|
Structure's primary quotient |
Units |
0,49 |
0,43 |
0,46 |
0,75 |
|
Treasury's primary quotient |
Units |
0,03 |
0,01 |
0,01 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
572,26 |
586,49 |
561,60 |
660,68 |
|
Current Capital ( net ) |
Value |
-3.800.068 |
-2.957.204 |
-2.108.105 |
80.037 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,04 |
4,32 |
2,93 |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
6,96 |
9,13 |
8,70 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
16,02 |
18,19 |
14,71 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
4,92 |
5,26 |
4,93 |
4,91 |
|
Return/ Sales |
% |
8,14 |
6,30 |
3,90 |
4,60 |
|
Extra Management revenues/charges incid. |
% |
24,74 |
29,61 |
31,42 |
26,08 |
|
Cash Flow |
Value |
549.141 |
620.491 |
554.542 |
67.440 |
|
Operating Profit |
Value |
887.282 |
904.432 |
737.412 |
88.577 |
|
Gross Operating Margin |
Value |
1.216.948 |
1.257.154 |
1.060.285 |
150.352 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
118,91 |
131,01 |
63,49 |
126,77 |
|
Debts to suppliers average term |
Days |
166,33 |
196,24 |
120,43 |
141,48 |
|
Average stock waiting period |
Days |
177,40 |
67,74 |
61,81 |
45,00 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,60 |
0,84 |
1,27 |
1,12 |
|
Rate of stock return |
Units |
2,03 |
5,31 |
5,82 |
7,83 |
|
Labour cost incidence |
% |
15,56 |
11,64 |
8,61 |
20,16 |
|
Net financial revenues/ charges incidence |
% |
-3,51 |
-2,58 |
-1,72 |
-1,63 |
|
Labour cost on purchasing expenses |
% |
13,00 |
12,90 |
9,82 |
20,64 |
|
Short-term financing charges |
% |
2,68 |
2,72 |
2,79 |
2,63 |
|
Capital on hand |
% |
165,49 |
119,74 |
79,04 |
89,16 |
|
Sales pro employee |
Value |
205.623 |
276.164 |
378.624 |
163.688 |
|
Labour cost pro employee |
Value |
32.002 |
32.145 |
32.611 |
32.486 |
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 |
: |
322.150 |
|
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 3.053 significant companies.
The companies cash their credits on an average of 127 dd.
The average duration of suppliers debts is about 141 dd.
The sector's profitability is on an average of 3,45%.
The labour cost affects the turnover in the measure of 20,16%.
Goods are held in stock in a range of 45 dd.
The difference between the sales volume and the resources used to
realize it is about 1,12.
The employees costs represent the 20,64% of the production costs.
Statistically the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they
count to 1.666.
The insolvency index for the region is 0,55, , while for the province it
is 0,52.
Total Bankrupt companies in the province : 940.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
EUR |
1 |
Rs.72.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TPT |
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.