|
Report No. : |
301648 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORSTEEL S.R.L. |
|
|
|
|
Registered Office : |
Via Caduti Di Nassiriya, 30 25020 – Offlaga (BS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.12.2008 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Metalliferous Minerals, Ferrous Metals and Semi-Finished
Products |
|
|
|
|
No. of Employees : |
From 11 to 15 |
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 |
FORSTEEL S.R.L.
Via Caduti Di Nassiriya, 30
25020 - Offlaga (BS) -IT-
|
Fiscal Code |
: |
03063150985 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
27/01/2009 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
Wholesale of metalliferous minerals, ferrous metals and semi-finished
products
Legal Form : Limited liability company
|
Fiscal Code : 03063150985 |
|
Chamber of Commerce no. : 502273 of Brescia since 19/12/2008 |
|
V.A.T. Code : 03063150985 |
|
Establishment date |
: 15/12/2008 |
|
|
Start of Activities |
: 27/01/2009 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 1.000.000 |
|
|
Subscribed Capital |
: 1.000.000 |
|
|
Paid up Capital |
: 1.000.000 |
|
|
Montalbano |
William |
|
|
Born in Brescia |
(BS) |
on 16/05/1969 |
- Fiscal Code : MNTWLM69E16B157Z |
|
|
Residence: |
Guglielmo Oberdan |
, 20/I |
- 25100 |
Brescia |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
19/04/2012 |
||
|
Director |
19/04/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Manzaro |
Leonardo |
|
|
Born in San Severo |
(FG) |
on 09/03/1965 |
- Fiscal Code : MNZLRD65C09I158Y |
|
|
Residence: |
Liberta' |
, 64 |
- 25050 |
Passirano |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
19/04/2012 |
|
|
Finsteel S.r.l. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
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.
|
|
Montalbano |
William |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Societa' Europea Componenti Elettrici S.p.a. In Sigla S.e.c.e. S.p.a. |
Roncadelle (BS) - IT - |
03445480175 |
Attorney with
special power |
Withdrawn |
Merged |
|
Aquila Brands S.r.l. |
Pastorano (CE) - IT - |
07618560630 |
Director |
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 |
|
Manzaro Leonardo |
Passirano - IT - |
MNZLRD65C09I158Y |
200.000 .Eur |
20,00 |
|
Aletti Fiduciaria S.p.a. - Societa' Fidu ciaria In Breve Aletti
Fiduciaria S.p.a |
03682710151 |
200.000 .Eur |
20,00 |
|
|
Finsteel S.r.l. |
07211160960 |
600.000 .Eur |
60,00 |
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 |
|
Caduti Di Nassiriya |
, 30 |
- 25020 |
- Offlaga |
(BS) |
- IT - |
|
Employees |
: 13 |
|
Fittings and Equipment for a value of 200.000 |
Eur |
|
Stocks for a value of 6.390.000 |
Eur |
EX-MEMBERS / EX-POSITIONS:
|
|
Montalbano |
William |
|
|
Born in Brescia |
(BS) |
on 16/05/1969 |
- Fiscal Code : MNTWLM69E16B157Z |
|
|
Residence: |
Guglielmo Oberdan |
, 20/I |
- 25100 |
Brescia |
(BS) |
- IT - |
|
Ex-Postions |
|
Sole Director |
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 2009.
The analysis is based on the latest 3 balance sheets.
In the economic management , good and bad results followed on by turns.
; in the last financial year a loss was registered (r.o.e. -2,1%) The turnover
is growing in the last financial year (+18,29%).
The operating result in 2013 was positive (2,01%) and in line with the
sector's average.
An operating result of Eur. 551.412 has been registered. showing a fall
as opposed to the previous year (-44%).
The gross operating margin of the latest financial year is of Eur.
668.066 showing a downward trend as opposed to the previous year.
Short-term debts volume if compared to net worth, as it comes out from
the total indebtedness (16,12) and increasing if compared to the previous year.
Subject can manage an equity capital funds for an amount of Eur.
1.573.046 on stable levels.
During the last financial year debts totalled Eur. 25.785.506 (Eur.
250.000 of which were m/l term debts) with no important change.
Remarkable financial indebtedness specially if compared to equity
capital, the exposure to suppliers is moderate (73,48 gg. is the average
payment period) below field's average.
The liquidity level is positive (1).
Due from customers average term is high and equal to 117,32 days. but in
line with the sector.
During financial year 2013 the cash flow amounted to Eur. 83.567
In the last financial year labour cost was of Eur. 486.833, with a 0,93%
incidence on total costs of production. , whereas the incidence of such costs
on sales revenues is equal to 0,93%.
The incidence of the financial charges is of -1,04% on the sales amount.
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
52.616.473 |
|
Profit (Loss) for the period |
-33.087 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
44.479.490 |
|
Profit (Loss) for the period |
303.919 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
44.976.864 |
|
Profit (Loss) for the period |
248.218 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
37.085.404 |
|
Profit (Loss) for the period |
1.122.855 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.304.569 |
|
Profit (Loss) for the period |
111.141 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,02 |
0,01 |
0,01 |
0,11 |
|
Elasticity Ratio |
Units |
0,93 |
0,93 |
0,98 |
0,87 |
|
Availability of stock |
Units |
0,23 |
0,32 |
0,24 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,70 |
0,61 |
0,74 |
0,56 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
16,12 |
13,17 |
12,99 |
3,81 |
|
Self Financing Ratio |
Units |
0,06 |
0,07 |
0,07 |
0,17 |
|
Capital protection Ratio |
Units |
0,70 |
0,75 |
0,75 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,00 |
0,12 |
|
Financing |
Units |
16,39 |
13,43 |
13,12 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,07 |
0,08 |
0,07 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,00 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
9,33 |
7,27 |
5,88 |
1,28 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,97 |
9,51 |
5,59 |
2,06 |
|
Current ratio |
Units |
1,00 |
1,01 |
1,06 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,75 |
0,66 |
0,80 |
0,84 |
|
Structure's primary quotient |
Units |
2,48 |
7,98 |
5,48 |
1,28 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,01 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
1744,98 |
1445,90 |
1415,27 |
591,61 |
|
Current Capital ( net ) |
Value |
-56.988 |
317.569 |
1.125.828 |
219.071 |
|
RETURN |
|||||
|
Return on Sales |
% |
0,16 |
0,88 |
0,66 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-2,10 |
18,92 |
17,70 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
0,42 |
31,17 |
28,42 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
2,01 |
4,24 |
3,58 |
4,19 |
|
Return/ Sales |
% |
1,05 |
2,21 |
1,58 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
-6,00 |
30,86 |
34,89 |
29,26 |
|
Cash Flow |
Value |
83.567 |
389.794 |
297.400 |
61.669 |
|
Operating Profit |
Value |
551.412 |
984.720 |
711.359 |
95.558 |
|
Gross Operating Margin |
Value |
668.066 |
1.070.595 |
760.541 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
117,32 |
102,94 |
112,41 |
120,94 |
|
Debts to suppliers average term |
Days |
73,48 |
79,18 |
80,12 |
120,04 |
|
Average stock waiting period |
Days |
43,69 |
60,88 |
38,15 |
61,92 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,92 |
1,92 |
2,27 |
1,27 |
|
Rate of stock return |
Units |
8,24 |
5,91 |
9,44 |
5,74 |
|
Labour cost incidence |
% |
0,93 |
0,99 |
1,21 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-1,04 |
-1,11 |
-0,69 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
0,93 |
1,01 |
1,22 |
7,90 |
|
Short-term financing charges |
% |
2,11 |
2,28 |
1,70 |
2,67 |
|
Capital on hand |
% |
52,17 |
52,21 |
44,12 |
78,39 |
|
Sales pro employee |
Value |
3.507.764 |
3.421.499 |
6.919.517 |
437.713 |
|
Labour cost pro employee |
Value |
32.455 |
33.807 |
83.780 |
33.928 |
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 |
: |
1.169.259 |
|
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 6.137 significant companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 120 dd.
The sector's profitability is on an average of 2,22%.
The labour cost affects the turnover in the measure of 7,77%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and the resources used to
realize it is about 1,27.
The employees costs represent the 7,90% of the production costs.
Statistcally 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 5.551.
The insolvency index for the region is 0,55, , while for the province it
is 0,48.
Total Bankrupt companies in the province : 3.452.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.39 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.