MIRA INFORM REPORT
|
Report No. : |
303374 |
|
Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DETTIN S.P.A. |
|
|
|
|
Registered Office : |
Via Campania, 9 Magre' 36015 – Schio (VI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
24.10.1962 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
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 – 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
DETTIN S.P.A.
Via Campania, 9 MAGRE'
36015 - Schio (VI) -IT-
Summary
|
Fiscal Code |
: |
00146080247 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
24/10/1962 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of Employees |
: |
from 36 to 50 |
Activity
General mechanics
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 00146080247 |
|
Foreign Trade Reg. no. : VI016753 since 19/12/1991 |
|
Foreign Trade Reg. no. : 016753 of Vicenza since 19/12/1991 |
|
Chamber of Commerce no. : 84669 of Vicenza since 02/11/1962 |
|
Firms' Register : VI116-3654 of Vicenza since 19/02/1996 |
|
V.A.T. Code : 00146080247 |
|
Tribunal Co. Register : 3654 of |
|
Foundation date |
: 24/10/1962 |
|
|
Establishment date |
: 29/12/1973 |
|
|
Start of Activities |
: 24/10/1962 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 155.000 |
|
|
Subscribed Capital |
: 155.000 |
|
|
Paid up Capital |
: 155.000 |
Members
|
|
Dettin |
Piergiorgio |
|
|
Born in Schio |
(VI) |
on 17/01/1935 |
- Fiscal Code : DTTPGR35A17I531M |
|
|
Residence: |
Della Potara |
, 99/B |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
25/05/2012 |
||
|
Director |
25/05/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Dettin |
Luca |
|
|
Born in Schio |
(VI) |
on 05/05/1971 |
- Fiscal Code : DTTLCU71E05I531K |
|
|
Residence: |
Pio X |
, 210 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
25/05/2012 |
||
|
Managing Director |
25/05/2012 |
|
|
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.
|
|
Dettin |
Piergiorgio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Raga S.r.l. In Liquidazione |
Schio (VI) - IT - |
02055860247 |
Sole Director |
Withdrawn |
Registered |
|
Raga S.r.l. In Liquidazione |
Schio (VI) - IT - |
02055860247 |
Liquidator |
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 |
|
Dettin S.p.a. |
Schio - IT - |
00146080247 |
15.500 .Eur |
10,00 |
|
Dettin Piergiorgio |
Schio - IT - |
DTTPGR35A17I531M |
134.075 .Eur |
86,50 |
|
Snichelotto Silvana |
Schio - IT - |
SNCSVN37P66I401W |
5.425 .Eur |
3,50 |
|
Dettin S.p.a. |
00146080247 |
15.500 .Eur |
10,00 |
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 |
|
Dettin S.p.a. |
Schio - IT - |
00146080247 |
15.500 .Eur |
10,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
since 24/10/1962 |
|
Campania |
, 9 |
- 36015 |
- Schio |
(VI) |
- IT - |
|
PHONE |
: 0445510033 |
|
- |
Branch |
(Warehouse) |
since 30/01/2012 |
|
S. Pio X |
, SNC |
- 36015 |
- Schio |
(VI) |
- IT - |
|
Employees |
: 47 |
|
Assistants |
: 3 |
|
Fittings and Equipment for a value of 140.000 |
Eur |
|
Stocks for a value of 3.750.000 |
Eur |
|
Furniture and fittings for a value of 52.000 |
Eur |
|
Vehicles for a value of 85.000 |
Eur |
|
Work in progress for a value of 2.820.000 |
Eur |
The firm operates abroad as importer / exporter..
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- its own agents |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Ireland |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Other forms |
Joint stock company |
29/12/1973 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
F.lli Dettin Spa |
03/05/1988 |
EX-MEMBERS / EX-POSITIONS:
|
|
Dettin |
Piergiorgio |
|
|
Born in Schio |
(VI) |
on 17/01/1935 |
- Fiscal Code : DTTPGR35A17I531M |
|
|
Residence: |
Della Potara |
, 99/B |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
Managing Director |
|
|
Snichelotto |
Silvana |
|
|
Born in San Vito Di Leguzzano |
(VI) |
on 26/09/1937 |
- Fiscal Code : SNCSVN37P66I401W |
|
|
Residence: |
Pio X |
, 210 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Dal Medico |
Paolo |
|
|
Born in Malo |
(VI) |
on 26/02/1962 |
- Fiscal Code : DLMPLA62B26E864X |
|
|
Residence: |
Sile |
, 16 BIS |
- 36030 |
Monte di Malo |
(VI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Dettin |
Luca Davide |
|
|
Born in Schio |
(VI) |
on 05/05/1971 |
- Fiscal Code : DTTLDV71E05I531N |
|
|
Residence: |
Pio X |
, 208 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Dettin |
Luca |
|
|
Born in Schio |
(VI) |
on 05/05/1971 |
- Fiscal Code : DTTLCU71E05I531K |
|
|
Residence: |
Pio X |
, 210 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Managing Director |
|
|
Anzolin |
Giangiuseppe |
|
|
Born in Schio |
(VI) |
on 04/04/1935 |
- Fiscal Code : NZLGGS35D04I531K |
|
|
Residence: |
R. Rompato |
, 6 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
De Vito |
Marcello Maria |
|
|
Born in Ancona |
(AN) |
on 20/02/1960 |
- Fiscal Code : DVTMCL60B20A271W |
|
|
Residence: |
Degli Orti |
, 40 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Faccin |
Luigi |
|
|
Born in Thiene |
(VI) |
on 16/03/1959 |
- Fiscal Code : FCCLGU59C16L157M |
|
|
Residence: |
Ungheria |
, 17 |
- 36016 |
Thiene |
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Santacatterina |
Gian Piero |
|
|
Born in Torino |
(TO) |
on 07/02/1940 |
- Fiscal Code : SNTGPR40B07L219Z |
|
|
Residence: |
Ippolito Nievo 5/a13 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Temporary Auditor |
|
|
Dal Santo |
Osvaldo |
|
|
Born in Caltrano |
(VI) |
on 04/09/1945 |
- Fiscal Code : DLSSLD45P04B433X |
|
|
Residence: |
Santamaria |
, 3 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Dal Santo |
Osvaldo |
|
|
Born in Caltrano |
(VI) |
on 04/09/1945 |
- Fiscal Code : DLSSLD45P04B433X |
|
Ex-Postions |
|
Permanent Auditor |
|
|
Anzolin |
Giangiuseppe |
|
|
Born in Schio |
(VI) |
on 04/04/1935 |
- Fiscal Code : NZLGGS35D04I531K |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorved |
|
|
Date |
: |
10/04/1985 |
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 is active since 1962
The eonomic-financial analysis is based on the latest 3 b/s.
Under the financial profile unstable results are noted. yet with a positive
result in the 2013 (r.o.e. 2,06%). In the last financial year an increase in
the turnover has been registered (+45,98%).
The return on Investment in the last financial year was positive (2,49%)
and in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur. 342.888
with an increase of 64,72% if the compared to the previous financial year.
The G.O.M. amounted to Eur. 535.965 with a 41,41% growth.
Company's financial status is balanced since indebtedness is not high
(1,78) with an improving trend as on the decrease.
It's shareholders funds amount to Eur. 3.403.668 , unchanged as opposed
to the preceding year.
During the last financial year total debts volume reached Eur. 9.343.365
(Eur. 2.583.042 were m/l term ones) with no important change.
The company does not exceed in bank credits; payments average period is
instead slightly high (115,41 gg.) however still within the sector's average.
It shows a good range of liquidity.
Accounts receivable average term is 79,95 days. , lower than the
sector's average.
2013 financial year closed with a cash flow of Eur. 263.357
Subordinate employment cost is of Eur. 2.385.770, i.e. 18,01% on total
production costs. , whereas the incidence on sales revenues is of 17,99%.
The incidence of the financial charges is of -1,07% on the sales amount.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.260.616 |
|
Profit (Loss) for the period |
70.280 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.083.569 |
|
Profit (Loss) for the period |
50.512 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.955.296 |
|
Profit (Loss) for the period |
-950.349 |
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 |
0,44 |
0,45 |
0,47 |
0,24 |
|
Elasticity Ratio |
Units |
0,56 |
0,55 |
0,53 |
0,73 |
|
Availability of stock |
Units |
0,27 |
0,24 |
0,27 |
0,13 |
|
Total Liquidity Ratio |
Units |
0,29 |
0,31 |
0,26 |
0,54 |
|
Quick Ratio |
Units |
0,05 |
0,00 |
0,02 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,78 |
2,05 |
1,83 |
3,02 |
|
Self Financing Ratio |
Units |
0,25 |
0,24 |
0,25 |
0,19 |
|
Capital protection Ratio |
Units |
0,93 |
0,94 |
1,24 |
0,67 |
|
Liabilities consolidation quotient |
Units |
0,53 |
0,54 |
0,59 |
0,21 |
|
Financing |
Units |
2,75 |
2,87 |
2,78 |
3,82 |
|
Permanent Indebtedness Ratio |
Units |
0,51 |
0,51 |
0,53 |
0,37 |
|
M/L term Debts Ratio |
Units |
0,26 |
0,26 |
0,28 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,59 |
0,87 |
0,82 |
0,54 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,15 |
1,13 |
1,12 |
1,36 |
|
Current ratio |
Units |
1,13 |
1,11 |
1,11 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,58 |
0,63 |
0,55 |
0,90 |
|
Structure's primary quotient |
Units |
0,56 |
0,54 |
0,52 |
0,80 |
|
Treasury's primary quotient |
Units |
0,11 |
0,00 |
0,05 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
403,91 |
415,39 |
404,54 |
522,79 |
|
Current Capital ( net ) |
Value |
906.850 |
778.008 |
718.817 |
137.035 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,99 |
2,44 |
-16,56 |
4,19 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
2,06 |
1,52 |
-28,95 |
6,82 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
5,91 |
3,98 |
-29,30 |
21,82 |
|
Return on Investment ( R.O.I. ) |
% |
2,49 |
1,50 |
-5,70 |
5,32 |
|
Return/ Sales |
% |
2,59 |
2,29 |
-15,29 |
4,80 |
|
Extra Management revenues/charges incid. |
% |
20,50 |
24,27 |
n.c. |
24,34 |
|
Cash Flow |
Value |
263.357 |
221.369 |
-820.379 |
122.584 |
|
Operating Profit |
Value |
342.888 |
208.155 |
-757.460 |
134.039 |
|
Gross Operating Margin |
Value |
535.965 |
379.012 |
-627.490 |
232.049 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
79,95 |
106,36 |
130,53 |
113,47 |
|
Debts to suppliers average term |
Days |
115,41 |
123,51 |
179,26 |
128,87 |
|
Average stock waiting period |
Days |
101,73 |
130,17 |
258,96 |
41,22 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,96 |
0,66 |
0,37 |
1,15 |
|
Rate of stock return |
Units |
3,54 |
2,77 |
1,39 |
8,63 |
|
Labour cost incidence |
% |
17,99 |
22,25 |
39,53 |
23,26 |
|
Net financial revenues/ charges incidence |
% |
-1,07 |
-1,72 |
-1,32 |
-1,36 |
|
Labour cost on purchasing expenses |
% |
18,01 |
23,10 |
26,58 |
23,52 |
|
Short-term financing charges |
% |
1,54 |
1,69 |
0,79 |
2,74 |
|
Capital on hand |
% |
103,67 |
152,43 |
268,01 |
87,13 |
|
Sales pro employee |
Value |
179.197 |
227.089 |
122.352 |
150.278 |
|
Labour cost pro employee |
Value |
32.240 |
50.516 |
48.370 |
33.017 |
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 3.083 significant companies.
The companies cash their credits on an average of 113 dd.
The average duration of suppliers debts is about 129 dd.
The sector's profitability is on an average of 4,19%.
The labour cost affects the turnover in the measure of 23,26%.
Goods are held in stock in a range of 41 dd.
The difference between the sales volume and the resources used to
realize it is about 1,15.
The employees costs represent the 23,52% 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 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.76 |
|
|
1 |
Rs.94.02 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.