MIRA INFORM REPORT
|
Report No. : |
301384 |
|
Report Date : |
09.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
METCO S.P.A. |
|
|
|
|
Registered Office : |
Via Bernardino Telesio, 2, 20145 – Milano (MI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.04.2001 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of metalliferous minerals, ferrous metals and semi-finished
products |
|
|
|
|
No. of Employee : |
From 1 to 5 |
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 – 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
METCO S.P.A.
Via Bernardino Telesio, 2
20145 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
01207670991 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
10/04/2001 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Wholesale of metalliferous minerals, ferrous metals and semi-finished
products
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 01207670991 |
|
Foreign Trade Reg. no. : 030799 of Genova since 13/01/2010 |
|
Chamber of Commerce no. : 242318 of Alessandria |
|
Chamber of Commerce no. : 392004 of Genova |
|
Chamber of Commerce no. : 434328 of Genova |
|
Chamber of Commerce no. : 1791878 of Milano since 03/01/2006 |
|
Firms' Register : MI-2006-1708 of Milano since 03/01/2006 |
|
Establishment date |
: 12/03/2001 |
|
|
Start of Activities |
: 10/04/2001 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 600.000 |
|
|
Subscribed Capital |
: 600.000 |
|
|
Paid up Capital |
: 600.000 |
Members
|
|
Bagliano |
Lorenzo |
|
|
Born in Genova |
(GE) |
on 01/09/1967 |
- Fiscal Code : BGLLNZ67P01D969M |
|
|
Residence: |
Albaro |
, 9/2 |
- 16145 |
Genova |
(GE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/04/2012 |
||
|
Director |
28/04/2012 |
|
|
Prejudicial Events found with cancellations* |
Legal Mortgage -
14/09/2007. - 9.728 Euro. Event writing-off
|
|
EQUITALIA POLIS S. P. A. |
|
|
No Protests registered |
|
|
Solari |
Luca |
|
|
Born in Genova |
(GE) |
on 24/02/1966 |
- Fiscal Code : SLRLCU66B24D969U |
|
|
Residence: |
Del Chiapparo |
, 2C UNI |
- 16100 |
Genova |
(GE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2012 |
|
|
Resca |
Stefano |
|
|
Born in Savona |
(SV) |
on 22/06/1975 |
- Fiscal Code : RSCSFN75H22I480R |
|
|
Residence: |
Paolo Assereto |
, 8/3 |
- 17100 |
Savona |
(SV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/01/2013 |
|
|
Barbasio Giovanna |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*Concerns also partially erased events.
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.
|
|
Bagliano |
Lorenzo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Giordo S.r.l. |
Genova (GE) - IT - |
03160950105 |
Director |
Active |
Registered |
|
Giordo S.r.l. |
Genova (GE) - IT - |
03160950105 |
Person in charge |
Active |
Registered |
|
Giordo S.r.l. |
Genova (GE) - IT - |
03160950105 |
Board Chairman |
Active |
Registered |
|
L E M Group Srl |
Tortona (AL) - IT - |
01518810096 |
Sole Director |
Active |
Registered |
|
Global Renewables Italia Srl |
Milano (MI) - IT - |
08078300962 |
Director |
Active |
Registered |
|
Global Renewables Italia Srl |
Milano (MI) - IT - |
08078300962 |
Board Chairman |
Active |
Registered |
|
Smokera Srl |
Assago (MI) - IT - |
08685080965 |
Director |
Active |
Registered |
|
Smokera Srl |
Assago (MI) - IT - |
08685080965 |
Board Chairman |
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 |
|
Solari Ernesto |
Genova - IT - |
SLRRST35H02D969I |
60.000 .Eur |
10,00 |
|
Bagliano Lorenzo |
Genova - IT - |
BGLLNZ67P01D969M |
60.000 .Eur |
10,00 |
|
Solari Luca |
Genova - IT - |
SLRLCU66B24D969U |
30.000 .Eur |
5,00 |
|
Barbasio Giovanna |
BRBGNN68B55D969S |
420.000 .Eur |
70,00 |
|
|
Solari Matteo |
SLRMTT69S03D969O |
30.000 .Eur |
5,00 |
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 |
|
Giordo S.r.l. |
Genova - IT - |
03160950105 |
39.200 .Eur |
49,00 |
Active |
||
|
Giordo Trasporti S.r.l |
Genova - IT - |
01746200995 |
2.000 .Eur |
20,00 |
Active |
||
|
Ca' D'bera Societa' Agricola S.r.l. |
Asti - IT - |
01486210055 |
4.900 .Eur |
49,00 |
Active |
||
|
Carboleghe S.r.l. |
06959290963 |
45.000 .Eur |
45,00 |
Active |
|||
|
L E M Group Srl |
Tortona - IT - |
01518810096 |
13.500 .Eur |
45,00 |
Active |
||
|
Smokera Srl |
Assago - IT - |
08685080965 |
40.000 .Eur |
40,00 |
Active |
||
|
Global Renewables Italia Srl |
Milano - IT - |
08078300962 |
10.000 .Eur |
100,00 |
Active |
||
|
Bianca 2009 S.r.l. |
06699200967 |
2.800 .Eur |
28,00 |
Active |
|||
|
Metco Metals S.r.l. |
07504400966 |
3.500 .Eur |
35,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Bernardino Telesio |
, 2 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 0105959311 |
|
FAX |
: 0105760972 |
|
- |
Branch |
(Warehouse) |
since 23/12/2008 |
|
Serravalle |
, 65 R |
- 15100 |
- Alessandria |
(AL) |
- IT - |
|
- |
Branch |
(office) |
since 10/04/2001 |
|
San Matteo |
, 2/48 |
- 16100 |
- Genova |
(GE) |
- IT - |
|
Employees |
: 4 |
|
Fittings and Equipment for a value of 93.000 |
Eur |
|
Stocks for a value of 7.470.000 |
Eur |
Historical
Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Bertolini |
Gianfranco |
|
|
Born in Genova |
(GE) |
on 27/02/1961 |
- Fiscal Code : BRTGFR61B27D969X |
|
|
Residence: |
Pisa |
, 11C/4 |
- 16146 |
Genova |
(GE) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Statuto |
Paolo |
|
|
Born in Genova |
(GE) |
on 12/02/1949 |
- Fiscal Code : STTPLA49B12D969J |
|
|
Residence: |
Brigata Bisagno |
, 14/24 |
- 16129 |
Genova |
(GE) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Bagliano |
Lorenzo |
|
|
Born in Genova |
(GE) |
on 01/09/1967 |
- Fiscal Code : BGLLNZ67P01D969M |
|
|
Residence: |
Albaro |
, 9/2 |
- 16145 |
Genova |
(GE) |
- 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
Subject is active since 2001
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 13,02% in 2013 and during the last financial year an
increase in sales volume was registered (+29,07% in 2013).
The operating result was positive in the last financial year (5,78%)
falling within the field's average.
The amount of the operating result is equal to Eur. 1.595.237 with a
36,95% growth.
The G.O.M. amounted to Eur. 1.968.032 with a 42,68% growth.
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 6,94
which is also improving if compared to the previous year.
Subject can manage an equity capital funds for an amount of Eur.
2.936.362 , unchanged if compared to 2012.
During the last financial year total debts volume reached Eur.
24.538.462 (Eur. 3.247.307 were m/l term ones) with no important change.
The recourse to bank credit is high compared to net worth, debts to
suppliers are on the other hand limited which is also lower than the sector
average.
The management determines a good range of liquidity.
As far as the collection of credit goes, the average is high (107,03
days). but in line with the sector.
2013 financial year closed with a cash flow of Eur. 705.126
Labour cost expenses amount to Eur. 430.269 , representing 0,95% on the
total of production costs. , whereas the incidence on sales revenues is of
0,92%.
Financial charges have a high incidence (-1,58%) on turnover figures.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
46.694.199 |
|
Profit (Loss) for the period |
382.331 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.177.332 |
|
Profit (Loss) for the period |
48.251 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
70.646.909 |
|
Profit (Loss) for the period |
441.996 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
54.048.827 |
|
Profit (Loss) for the period |
654.062 |
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 |
0,14 |
0,15 |
0,15 |
0,11 |
|
Elasticity Ratio |
Units |
0,86 |
0,85 |
0,84 |
0,87 |
|
Availability of stock |
Units |
0,27 |
0,36 |
0,33 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,58 |
0,49 |
0,51 |
0,56 |
|
Quick Ratio |
Units |
0,03 |
0,03 |
0,04 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
6,94 |
6,47 |
6,57 |
3,81 |
|
Self Financing Ratio |
Units |
0,11 |
0,11 |
0,12 |
0,17 |
|
Capital protection Ratio |
Units |
0,67 |
0,75 |
0,58 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,22 |
0,10 |
0,12 |
|
Financing |
Units |
8,36 |
8,24 |
7,57 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,23 |
0,27 |
0,20 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,12 |
0,16 |
0,08 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
6,55 |
6,29 |
5,93 |
1,28 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,56 |
1,83 |
1,27 |
2,06 |
|
Current ratio |
Units |
1,11 |
1,17 |
1,06 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,76 |
0,68 |
0,64 |
0,84 |
|
Structure's primary quotient |
Units |
0,74 |
0,74 |
0,75 |
1,28 |
|
Treasury's primary quotient |
Units |
0,04 |
0,04 |
0,05 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
940,04 |
927,22 |
864,71 |
591,61 |
|
Current Capital ( net ) |
Value |
2.310.896 |
2.869.396 |
1.000.377 |
219.071 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,51 |
0,61 |
0,82 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
13,02 |
1,89 |
17,64 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
28,65 |
14,30 |
35,55 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
5,78 |
4,92 |
6,22 |
4,19 |
|
Return/ Sales |
% |
3,42 |
3,22 |
1,91 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
23,97 |
4,14 |
32,78 |
29,26 |
|
Cash Flow |
Value |
705.126 |
219.548 |
577.648 |
61.669 |
|
Operating Profit |
Value |
1.595.237 |
1.164.775 |
1.348.500 |
95.558 |
|
Gross Operating Margin |
Value |
1.968.032 |
1.379.265 |
1.530.312 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
107,03 |
89,56 |
45,20 |
120,94 |
|
Debts to suppliers average term |
Days |
30,76 |
41,13 |
15,86 |
120,04 |
|
Average stock waiting period |
Days |
57,57 |
84,22 |
36,89 |
61,92 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,69 |
1,53 |
3,26 |
1,27 |
|
Rate of stock return |
Units |
6,25 |
4,27 |
9,76 |
5,74 |
|
Labour cost incidence |
% |
0,92 |
1,37 |
0,67 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-1,58 |
-2,59 |
-0,79 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
0,95 |
1,36 |
0,68 |
7,90 |
|
Short-term financing charges |
% |
3,01 |
4,52 |
3,08 |
2,67 |
|
Capital on hand |
% |
59,11 |
65,46 |
30,67 |
78,39 |
|
Sales pro employee |
Value |
3.591.861 |
2.411.822 |
5.046.207 |
437.713 |
|
Labour cost pro employee |
Value |
33.097 |
32.946 |
33.578 |
33.928 |
Remarks
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.
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences 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 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.
Statistical
Detrimental Data
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 24.765.
The insolvency index for the region is 0,55, , while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
|
|
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.