MIRA INFORM REPORT
|
Report No. : |
305950 |
|
Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Correct Name : |
OFFICINE MARCHETTI S.P.A. |
|
|
|
|
Registered Office : |
Via Del Ferro,, 40/C Avenza, 54031 – Carrara
(Ms) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
31.07.1986 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
·
Engaged in production
of hydraulic tensioners for tensioning of the blades for gangsaws for cutting
blocks of marble and the power units. ·
Engaged in production of tensioners for diamond
wire saws ·
Engaged as supplier
of tensioners, tie-rods and hydraulic power units for the leading
manufacturers of gangsaws for cutting blocks of marble and granite. ·
Engaged as manufacturers
of gangsaws for cutting blocks of marble and granite. ·
Engaged in production and sale of hydraulic tensioners, stretchers
and hydraulic power units. ·
Engaged in designing, producing and selling
CNC machines for the cutting and shaping of slabs and cubic stone in marble
as well as stone and granite. Subject product
ranges includes: ·
Hydraulic
tensioner for marble ·
Hydraulic
tie-rod for marble ·
Accessories
for marble ·
Hydraulic
tensioner for granite ·
Hydraulic
tie-rod for granite ·
Accessories
for granite ·
Contouring
milling machine with five axes AXCO ·
Milling
and CNC contouring workstation Cobox ·
Contouring
machine IDEMA 2100 ·
Contouring
and milling machine IDEMA 2000 ·
Numerical
control milling machine IDEMA 1000 ·
Milling
machine IDEMA 700 |
|
|
|
|
No of Employees : |
28 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Italy |
a2 |
a2 |
|
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 industrial
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 133% of GDP in 2013, 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 widespread tax evasion. In 2013
economic growth and labor market conditions deteriorated, with growth at -1.8%
and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's
GDP is now 8% below its 2007 pre-crisis level.
|
Source : CIA |
Company
name & address
Officine Marchetti S.p.a.
Via Del Ferro,, 40/C
AVENZA
54031 - Carrara (MS) -IT-
Summary
|
Fiscal Code |
: |
00480390459 |
|
Legal Form |
: |
Joint Stock Company |
|
start of Activities |
: |
31/07/1986 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
28 |
Activity
·
Engaged in production of
hydraulic tensioners for tensioning of the blades for gangsaws for cutting
blocks of marble and the power units.
·
Engaged in production of tensioners for diamond
wire saws
·
Engaged as supplier
of tensioners, tie-rods and hydraulic power units for the leading manufacturers
of gangsaws for cutting blocks of marble and granite.
·
Engaged as manufacturers
of gangsaws for cutting blocks of marble and granite.
·
Engaged in production and sale of hydraulic tensioners, stretchers and hydraulic power
units.
·
Engaged in designing, producing and selling
CNC machines for the cutting and shaping of slabs and cubic stone in marble as
well as stone and granite.
Subject product ranges
includes:
·
Hydraulic
tensioner for marble
·
Hydraulic
tie-rod for marble
·
Accessories
for marble
·
Hydraulic
tensioner for granite
·
Hydraulic
tie-rod for granite
·
Accessories
for granite
·
Contouring
milling machine with five axes AXCO
·
Milling
and CNC contouring workstation Cobox
·
Contouring
machine IDEMA 2100
·
Contouring
and milling machine IDEMA 2000
·
Numerical
control milling machine IDEMA 1000
·
Milling
machine IDEMA 700
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 00480390459 |
|
Foreign Trade Reg. no. : 1481 of Massa
since 09/12/1991 |
|
Chamber of Commerce no. : 83946 of Massa
since 04/09/1986 |
|
Firms' Register : MS010-5236 of Massa
since 19/02/1996 |
|
V.A.T. Code : 00480390459 |
|
Tribunal Co. Register : 5236 of since 29/08/1986 |
|
Foundation date |
: 31/07/1986 |
|
|
Establishment date |
: 31/07/1986 |
|
|
Start of Activities |
: 31/07/1986 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 875.000 |
|
|
Subscribed Capital |
: 875.000 |
|
|
Paid up Capital |
: 875.000 |
Members
|
Marchetti |
Cesare |
|
|
Born in Carrara |
(MS) |
on 12/09/1936 |
- Fiscal Code : MRCCSR36P12B832R |
|
|
Residence: |
Monteverde |
, 8 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/09/2014 |
||
|
Board Chairman |
03/09/2014 |
||
|
Managing Director |
03/09/2014 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
Marchetti |
Lorenzo |
|
|
Born in Carrara |
(MS) |
on 20/11/1968 |
- Fiscal Code : MRCLNZ68S20B832G |
|
|
Residence: |
Monteverde |
, 14/C |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/09/2014 |
||
|
Managing Director |
03/09/2014 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Marchetti |
Arianna |
|
|
Born in Carrara |
(MS) |
on 07/02/1964 |
- Fiscal Code : MRCRNN64B47B832C |
|
|
Residence: |
F. Micheli |
, 35 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/09/2014 |
||
|
Managing Director |
03/09/2014 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
Marchetti S.r.l. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
Companies
connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
Marchetti |
Cesare |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Due.t S.r.l. |
Seravezza (LU) - IT - |
01630060463 |
Director |
Active |
Registered |
|
Due.t S.r.l. |
Seravezza (LU) - IT - |
01630060463 |
Board Chairman |
Active |
Registered |
|
MARCHETTI CESARE |
Carrara (MS) - IT - |
Proprietor |
Withdrawn |
Registered |
|
|
ALPE INDUSTRIE MECCANICHE S.P.A. |
Rovereto (TN) - IT - |
00811690221 |
Board Chairman |
Withdrawn |
Registered |
|
Marchetti |
Lorenzo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
IDEMA S.R.L |
Carrara (MS) - IT - |
00692170459 |
Sole Director |
Withdrawn |
Registered |
|
Marchetti |
Arianna |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Marchetti S.r.l. |
Carrara (MS) - IT - |
00193210457 |
Sole 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.
Capital
Shareholders
Shareholders' list
as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Marchetti Lorenzo |
Carrara - IT - |
MRCLNZ68S20B832G |
175.000 .Eur |
20,00 |
|
Marchetti Arianna |
Carrara - IT - |
MRCRNN64B47B832C |
175.000 .Eur |
20,00 |
|
Marchetti S.r.l. |
00193210457 |
525.000 .Eur |
60,00 |
Direct
Participations
The
Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Due.t S.r.l. |
Seravezza - IT - |
01630060463 |
45.000 .Eur |
50,00 |
Active |
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
|
Del Ferro, |
, 40/C |
- 54033 |
- Carrara |
(MS) |
- IT - |
|
PHONE |
: 0585857206 |
|
FAX |
: 058551975 |
|
- |
Branch |
(Factory) |
since 04/11/2002 |
|
Dorsale |
, 13 |
- 54100 |
- Massa |
(MS) |
- IT - |
|
Employees |
: 28 |
|
Fittings and Equipment for a value of
720.000 |
Eur |
|
Stocks for a value of 1.730.000 |
Eur |
|
Furniture and fittings for a value of
10.000 |
Eur |
|
Vehicles for a value of 83.000 |
Eur |
The firm operates abroad as exporter..
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Gabon |
|
- Ireland |
|
- Somalia |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
Marchetti |
Cesare |
|
|
Born in Carrara |
(MS) |
on 12/09/1936 |
- Fiscal Code : MRCCSR36P12B832R |
|
|
Residence: |
Monteverde |
, 8 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Ex-Postions |
|
Sole Director |
Protests
Protests checking on the subject firm has
given a negative result.
Data
Base Prejudicial Events Search
Search performed on a National Scale
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal
Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial
and Economical Analysis
Company's starting of activities dates back
to 1986.
An eco-fin analysis has been made on the
base od the b/s fo the years 2011, 2012 and 2013.
Under the financial profile unstable results
are noted. with a negative economic result in the last financial year.
The operating result in 2013 was positive
(1,31%) falling within the field's average.
The amount of the operating result for the
year 2013 is of Eur. 122.660 with a -66,08% drop.
A gross operating margin for a value of Eur.
485.060 was reached. showing a drop (-27,4%).
The analysis shows a fair financial position
as the indebtedness volume is acceptable (3,67) with an improving trend as on
the decrease.
The equity capital is equal to Eur.
1.274.313 , with an upward trend.
During the last financial year debts
totalled Eur. 7.382.570 (Eur. 2.705.719 of which were m/l term debts) with no
important change.
Companys' indebtedness is fairly high in
relation to its net worth; payments average period is slow even in comparison
with the sector's.
Even liquidity range appears to be not
completely sufficient.
Trade credits are collected slowly, average
term is 118,54 days. but on the same levels as the average of the sector.
2013 financial year closed with a cash flow
of Eur. 150.441
Labour cost amounts to Eur. 1.272.925, with
a 21,71% incidence on production costs. , whereas the incidence on sales
revenues is of 22,02%.
The financial management is marked by a high
incidence of financial charges in relation to sales revenues (-5,05%).
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.779.588 |
|
Profit (Loss) for the period |
-211.959 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.688.826 |
|
Profit (Loss) for the period |
23.183 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.807.113 |
|
Profit (Loss) for the period |
-256.527 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.746.598 |
|
Profit (Loss) for the period |
-263.988 |
Balance
Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet as
at 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value
Type |
as at 31/12/2013 |
as at 31/12/2012 |
as at 31/12/2011 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,51 |
0,43 |
0,44 |
0,17 |
|
Elasticity Ratio |
Units |
0,48 |
0,56 |
0,53 |
0,80 |
|
Availability of stock |
Units |
0,19 |
0,22 |
0,21 |
0,27 |
|
Total Liquidity Ratio |
Units |
0,30 |
0,34 |
0,33 |
0,50 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
3,67 |
6,89 |
6,79 |
3,14 |
|
Self Financing Ratio |
Units |
0,14 |
0,07 |
0,07 |
0,19 |
|
Capital protection Ratio |
Units |
0,48 |
-0,38 |
0,01 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,70 |
0,78 |
0,83 |
0,18 |
|
Financing |
Units |
5,79 |
11,70 |
11,87 |
3,79 |
|
Permanent Indebtedness Ratio |
Units |
0,48 |
0,47 |
0,48 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,35 |
0,40 |
0,41 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
3,66 |
7,60 |
8,35 |
0,77 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,96 |
1,11 |
1,10 |
1,75 |
|
Current ratio |
Units |
0,97 |
1,11 |
1,08 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,60 |
0,68 |
0,66 |
0,78 |
|
Structure's primary quotient |
Units |
0,27 |
0,17 |
0,16 |
1,04 |
|
Treasury's primary quotient |
Units |
0,00 |
0,01 |
0,02 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
735,14 |
1373,91 |
1391,68 |
518,96 |
|
Current Capital ( net ) |
Value |
-145.151 |
481.638 |
340.055 |
406.983 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,60 |
5,79 |
1,70 |
3,69 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-16,63 |
3,56 |
-40,86 |
5,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-15,31 |
17,41 |
-39,85 |
17,72 |
|
Return on Investment ( R.O.I. ) |
% |
1,31 |
4,04 |
4,36 |
3,94 |
|
Return/ Sales |
% |
2,12 |
6,36 |
6,56 |
4,48 |
|
Extra Management revenues/charges incid. |
% |
-172,80 |
6,41 |
-67,36 |
26,52 |
|
Cash Flow |
Value |
150.441 |
329.657 |
98.875 |
142.024 |
|
Operating Profit |
Value |
122.660 |
361.672 |
380.818 |
126.602 |
|
Gross Operating Margin |
Value |
485.060 |
668.146 |
736.220 |
241.461 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
118,54 |
119,34 |
123,45 |
116,01 |
|
Debts to suppliers average term |
Days |
154,22 |
171,16 |
150,95 |
127,79 |
|
Average stock waiting period |
Days |
107,97 |
123,81 |
112,90 |
96,89 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,62 |
0,64 |
0,66 |
1,03 |
|
Rate of stock return |
Units |
3,33 |
2,91 |
3,19 |
3,58 |
|
Labour cost incidence |
% |
22,02 |
21,69 |
22,42 |
21,20 |
|
Net financial revenues/ charges incidence |
% |
-5,05 |
-5,03 |
-5,02 |
-1,00 |
|
Labour cost on purchasing expenses |
% |
21,71 |
21,42 |
22,66 |
20,95 |
|
Short-term financing charges |
% |
3,96 |
3,78 |
3,93 |
2,70 |
|
Capital on hand |
% |
162,09 |
157,21 |
150,44 |
96,90 |
|
Sales pro employee |
Value |
148.194 |
149.705 |
145.177 |
191.520 |
|
Labour cost pro employee |
Value |
32.639 |
32.470 |
32.555 |
39.641 |
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expenses average in the
region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a base of 45
significant companies.
The companies cash their credits on an
average of 116 dd.
The average duration of suppliers debts is about
128 dd.
The sector's profitability is on an average
of 3,69%.
The labour cost affects the turnover in the
measure of 21,20%.
Goods are held in stock in a range of 97 dd.
The difference between the sales volume and
the resources used to realize it is about 1,03.
The employees costs represent the 20,95% of
the production costs.
Statistical
Detrimental Data
Statistically 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 1.432.
The insolvency index for the region is 0,70,
, while for the province it is 0,72.
Total Bankrupt companies in the province :
1.056.
Total Bankrupt companies in the region :
20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
UK Pound |
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.