MIRA INFORM REPORT
|
Report No. : |
303026 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARAV FASHION
S.P.A. |
|
|
|
|
Registered Office : |
Localita'
Pagliarelle, SN 80030 - San Vitaliano
(NA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.02.2013 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of Clothing and Accessories. |
|
|
|
|
No. of Employees : |
From 176 to 200 |
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 and address
ARAV FASHION
S.P.A.
Localita' Pagliarelle, SN
80030 - San Vitaliano (NA) -IT
Summary
|
Fiscal Code |
: |
07433471211 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
01/06/2013 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 176 to 200 |
Activity
Wholesale of clothing and accessories
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 07433471211 |
|
Chamber of Commerce no. : 283169 of
Caserta |
|
Chamber of Commerce no. : 624814 of
Firenze |
|
Chamber of Commerce no. : 467896 of Genova |
|
Chamber of Commerce no. : 2017375 of
Milano |
|
Chamber of Commerce no. : 883664 of Napoli
since 28/02/2013 |
|
Chamber of Commerce no. : 232508 of Novara |
|
Chamber of Commerce no. : 180724 of
Piacenza |
|
Chamber of Commerce no. : 259503 of Parma |
|
Chamber of Commerce no. : 295358 of Reggio
Emilia |
|
Chamber of Commerce no. : 1377544 of Roma |
|
Chamber of Commerce no. : 327099 of Rimini |
|
Chamber of Commerce no. : 346730 of Varese |
|
V.A.T. Code : 07433471211 |
|
Establishment date |
: 22/02/2013 |
|
|
Start of Activities |
: 01/06/2013 |
|
|
Legal duration |
: 31/12/2060 |
|
|
Nominal Capital |
: 7.473.879 |
|
|
Subscribed Capital |
: 7.473.879 |
|
|
Paid up Capital |
: 7.473.879 |
Members
|
|
Nagar |
Paolo |
|
|
Born in Napoli |
(NA) |
on 08/07/1967 |
- Fiscal Code : NGRPLA67L08F839Q |
|
|
Residence: |
Dei Martiri |
, 30 |
- 80121 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/06/2013 |
|
|
Ammaturo |
Giuseppe |
|
|
Born in Palma Campania |
(NA) |
on 15/02/1969 |
- Fiscal Code : MMTGPP69B15G283C |
|
|
Residence: |
Nuova Sarno |
, 558 |
- 80036 |
Palma Campania |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
05/06/2013 |
||
|
Director |
05/06/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Iannucci |
Vincenzo |
|
|
Born in Napoli |
(NA) |
on 03/08/1961 |
- Fiscal Code : NNCVCN61M03F839K |
|
|
Residence: |
Maria Bakunin |
, 41 |
- 80125 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
11/06/2014 |
|
|
Marano Nunziata |
Anna Maria
Gaetana |
|
|
Born in San Gennaro Vesuviano |
(NA) |
on 30/08/1972 |
- Fiscal Code : MRNNMR72M70H860Z |
|
|
Residence: |
Nuova Sarno |
, 558 |
- 80036 |
Palma Campania |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/06/2013 |
||
|
Managing Director |
05/06/2013 |
|
|
Prejudicial
Events found with cancellations* |
Legal Mortgage - 23/02/2006. -
10.667 Euro. Event writing-off
|
|
EQUITALIA POLIS S. P. A. |
|
|
No Protests
registered |
|
|
Oliva |
Pietro |
|
|
Born in Scafati |
(SA) |
on 13/09/1963 |
- Fiscal Code : LVOPTR63P13I483N |
|
|
Residence: |
Rivolta |
, 25 |
- 80040 |
Striano |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/06/2013 |
*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.
|
|
Ammaturo |
Giuseppe |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
G.a.d.a. L'abbigliamento Per I Bambini Di
Ammaturo Giuseppe E C. S.a.s. |
Palma Campania (NA) - IT - |
05768940636 |
General Partner |
Withdrawn |
Registered |
|
Arav Kids S.p.a. |
San Vitaliano (NA) - IT - |
06189741215 |
Director |
Active |
Registered |
|
Arav Kids S.p.a. |
San Vitaliano (NA) - IT - |
06189741215 |
Sole Director |
Withdrawn |
Registered |
|
Arav Kids S.p.a. |
San Vitaliano (NA) - IT - |
06189741215 |
Board Chairman |
Active |
Registered |
|
Mg S.r.l. |
San Vitaliano (NA) - IT - |
03627721214 |
Sole Director |
Active |
Registered |
|
Megi S.r.l. |
Nola (NA) - IT - |
06970791213 |
Director |
Active |
Registered |
|
Megi S.r.l. |
Nola (NA) - IT - |
06970791213 |
Board Chairman |
Active |
Registered |
|
Rovi S.r.l. |
Napoli (NA) - IT - |
06970691215 |
Sole Director |
Active |
Registered |
|
|
Marano Nunziata |
Anna Maria
Gaetana |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Conf.amm. S.a.s. Di Marano Nunziata
AnnaMaria Gaetana |
Palma Campania (NA) - IT - |
03372921217 |
General Partner |
Withdrawn |
Ceased |
|
Arav Holding S.r.l. A Socio Unico |
Palma Campania (NA) - IT - |
02626781211 |
Sole Director |
Withdrawn |
Registered |
|
Arav Holding S.r.l. A Socio Unico |
Palma Campania (NA) - IT - |
02626781211 |
General Partner |
Withdrawn |
Registered |
|
Arav Holding S.r.l. A Socio Unico |
Palma Campania (NA) - IT - |
02626781211 |
Sole partner |
Withdrawn |
Registered |
|
Arav Kids S.p.a. |
San Vitaliano (NA) - IT - |
06189741215 |
Managing
Director |
Active |
Registered |
|
Arav Kids S.p.a. |
San Vitaliano (NA) - IT - |
06189741215 |
Director |
Active |
Registered |
|
Arav Trade S.r.l. A Socio Unico In
Liquidazione |
Nola (NA) - IT - |
04247561212 |
Sole partner |
Withdrawn |
In liquidation |
|
Mg S.r.l. |
San Vitaliano (NA) - IT - |
03627721214 |
Sole Director |
Withdrawn |
Registered |
|
Mg S.r.l. |
San Vitaliano (NA) - IT - |
03627721214 |
Sole partner |
Withdrawn |
Registered |
|
Sh Group S.r.l. |
Napoli (NA) - IT - |
06721101217 |
Director |
Withdrawn |
Registered |
|
Megi S.r.l. |
Nola (NA) - IT - |
06970791213 |
Managing
Director |
Active |
Registered |
|
Megi S.r.l. |
Nola (NA) - IT - |
06970791213 |
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 |
|
Mg S.p.a. |
03627721214 |
|||
|
Vertis Societa' Di Gestione Del Risparmi o
S.p.a. |
05707511217 |
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 |
|
Megi S.r.l. |
Nola - IT - |
06970791213 |
25.000 .Eur |
100,00 |
Active |
Firm's
location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and operative
seat |
|
Localita' Pagliarelle |
, SN |
- 80030 |
- San Vitaliano |
(NA) |
- IT - |
|
Total Surface: 80 Sq.mt. |
|
PHONE |
: 08119131111 |
|
- |
Office not
registered |
|
Snc, Cis Nola 323 |
- 80035 |
- Nola |
(NA) |
- IT - |
|
PHONE |
: 0818269249 |
|
PHONE |
: 0818268502 |
|
- |
Branch |
(Shop) |
since 08/08/2013 |
|
Provinciale 336 |
, SNC |
- 81025 |
- Marcianise |
(CE) |
- IT - |
|
Total Surface: 134 Sq.mt. |
|
- |
Branch |
(Shop) |
since 14/10/2013 |
|
Meucci |
, SNC |
- 50031 |
- Barberino di Mugello |
(FI) |
- IT - |
|
Total Surface: 103 Sq.mt. |
|
- |
Branch |
(Shop) |
since 09/07/2013 |
|
Xx Settembre |
, 16 |
- 16100 |
- Genova |
(GE) |
- IT - |
|
- |
Branch |
(Shop) |
since 09/07/2013 |
|
Delle Vigne Nuove |
, SNC |
- 00100 |
- Roma |
(RM) |
- IT - |
|
- |
Branch |
(Shop) |
since 23/09/2013 |
|
Della Repubblica |
, 42/44 |
- 00049 |
- Velletri |
(RM) |
- IT - |
|
- |
Branch |
(Shop) |
since 20/09/2013 |
|
Del Ponte Di Piscina Cupa |
, 64 |
- 00100 |
- Roma |
(RM) |
- IT - |
|
Total Surface: 131 Sq.mt. |
|
- |
Branch |
(Shop) |
since 20/11/2013 |
|
Aereoporto Di Milano T1 |
, SNC |
- 21010 |
- Ferno |
(VA) |
- IT - |
|
- |
Branch |
(Sales office) |
since 01/05/2013 |
|
Savona |
, 97 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Shop) |
since 28/02/2014 |
|
Cinque Giornate |
, 1 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Shop) |
since 28/02/2014 |
|
Vercelli |
, 30/32 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
- |
Branch |
(Shop) |
since 28/02/2014 |
|
D'augusto |
, 59 |
- 47037 |
- Rimini |
(RN) |
- IT - |
|
- |
Branch |
(Shop) |
since 25/03/2014 |
|
Roma |
, 55 |
- 80070 |
- Ischia |
(NA) |
- IT - |
|
Total Surface: 80 Sq.mt. |
|
Employees |
: 182 |
|
Fittings and Equipment for a value of
420.000 |
Eur |
|
Stocks for a value of 13.740.000 |
Eur |
The subject firm uses the following own
selling brands:
|
- Silvian Heach |
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Santoro |
Paolo |
|
|
Born in Roma |
(RM) |
on 18/02/1968 |
- Fiscal Code : SNTPLA68B18H501R |
|
|
Residence: |
S.s. 80 Colleranesco |
, SN |
- 64021 |
Giulianova |
(TE) |
- IT - |
|
Ex-Postions |
|
Director |
|
|
Maresca |
Maurizio |
|
|
Born in Positano |
(SA) |
on 16/08/1946 |
- Fiscal Code : MRSMRZ46M16G932U |
|
|
Residence: |
Caracciolo |
, 71 |
- 80062 |
Meta |
(NA) |
- IT - |
|
Ex-Postions |
|
Director |
|
Assistant board Chairman |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm
absorbed by merging of |
|
|
|
|
Pagliarelle |
, SN |
, 80030 |
, San Vitaliano |
(NA) |
- IT - |
|
|
Fiscal Code: 03627721214 |
|
|
Date |
: |
02/05/2013 |
|
|
The subj. took
over by rent the activities of |
|
|
|
|
Matteotti Giacomo |
, 10 |
, 20121 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 06227960967 |
|
|
Date |
: |
04/10/2013 |
|
|
The subj. took
over by rent the activities of |
|
|
|
|
Meucci |
, SNC |
, 50031 |
, Barberino di Mugello |
(FI) |
- IT - |
|
|
Fiscal Code: 05176070489 |
|
|
Date |
: |
14/10/2013 |
|
|
The subj. took
over by rent the activities of |
|
|
|
|
Della Repubblica |
, 42/44 |
, 00049 |
, Velletri |
(RM) |
- IT - |
|
|
Fiscal Code: 10448731009 |
|
|
Date |
: |
03/07/2013 |
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
The company has been recently established.
Analysis of b/s made on the fase of the financial
year 2013.
It suffered a loss in 2013.
The operating result is negative.
the operating loss amounts to Eur.
-4.038.051.
The GOM is negative and amounts to Eur.
-1.193.549.
The analysis shows a fair financial position
as the indebtedness volume is acceptable (1,46)
Subject's shareholder funds amounted to Eur.
16.973.761.
Financial debts exposure is under control
while the recourse to commercial credit is rather frequent however still within
the sector's average.
Liquidity is good (1,32)
Due from customers average term is high and
equal to 192,67 days. even if compared to the average of the sector.
2013 closed with a cash flow amounting to
2013
Labour cost expenses amount to Eur.
3.615.142 , representing 10,81% on the total of production costs. , with a
12,62% incidence on turnover.
Limited financial charges in relation to
sales volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
28.641.028 |
|
Profit (Loss) for the period |
-2.623.417 |
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 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2013 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||
|
Rigidity Ratio |
Units |
0,24 |
0,09 |
|
Elasticity Ratio |
Units |
0,72 |
0,89 |
|
Availability of stock |
Units |
0,28 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,45 |
0,54 |
|
Quick Ratio |
Units |
0,05 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||
|
Net Short-term indebtedness |
Units |
1,46 |
3,95 |
|
Self Financing Ratio |
Units |
0,34 |
0,17 |
|
Capital protection Ratio |
Units |
0,71 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,18 |
0,10 |
|
Financing |
Units |
1,85 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,44 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,64 |
1,04 |
|
CORRELATION |
|||
|
Fixed assets ratio |
Units |
1,86 |
2,37 |
|
Current ratio |
Units |
1,32 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,81 |
0,80 |
|
Structure's primary quotient |
Units |
1,45 |
1,48 |
|
Treasury's primary quotient |
Units |
0,09 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
291,36 |
602,26 |
|
Current Capital ( net ) |
Value |
8.634.291 |
191.984 |
|
RETURN |
|||
|
Return on Sales (R.O.S.) |
% |
0,77 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-15,46 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-20,69 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
-8,17 |
4,18 |
|
Return/ Sales |
% |
-14,10 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
27,96 |
|
Cash Flow |
Value |
221.085 |
44.823 |
|
Operating Profit |
Value |
-4.038.051 |
74.603 |
|
Gross Operating Margin |
Value |
-1.193.549 |
111.383 |
|
MANAGEMENT |
|||
|
Credits to clients average term |
Days |
192,67 |
113,70 |
|
Debts to suppliers average term |
Days |
131,60 |
118,14 |
|
Average stock waiting period |
Days |
172,65 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,58 |
1,25 |
|
Rate of stock return |
Units |
2,09 |
4,88 |
|
Labour cost incidence |
% |
12,62 |
8,14 |
|
Net financial revenues/charges incidence |
% |
-0,84 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
10,81 |
8,25 |
|
Short-term financing charges |
% |
0,77 |
2,76 |
|
Capital on hand |
% |
172,67 |
79,85 |
|
Sales pro employee |
Value |
255.723 |
397.742 |
|
Labour cost pro employee |
Value |
32.278 |
33.267 |
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 9.175
significant companies.
The companies cash their credits on an
average of 114 dd.
The average duration of suppliers debts is
about 118 dd.
The sector's profitability is on an average
of 2,03%.
The labour cost affects the turnover in the
measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and
the resources used to realize it is about 1,25.
The employees costs represent the 8,25% of
the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes
through serious crises.
The area is statistically considered
remarkably risky.
In the region 80.616 protested subjects are
found; in the province they count to 41.815.
The insolvency index for the region is 1,40,
, while for the province it is 1,36.
Total Bankrupt companies in the province :
18.217.
Total Bankrupt companies in the region :
28.514.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.94.10 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.