MIRA INFORM REPORT
|
Report No. : |
305390 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VALTEC ITALIA S.R.L. |
|
|
|
|
Registered Office : |
Via Della
Meccanica, 29 Bassona Zai 2 37139 – Verona (Vr) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.07.2001 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged as Wholesale Dealer and Producer of Flexible Packaging
Materials. Subject product ranges
includes: ·
Biaxially-Oriented Polypropylene (BOPP) Films ·
PET Films ·
Polycoated Papers ·
Papers ·
Stretch Film ·
Alu Complex ·
Inks (Nitro PU base inks made with organic pigments, ideal for
Flexible Packaging Substrates, like Paper, Carton, Bopp, Pe, Alu foil,
Pet Chemical treated) |
|
|
|
|
No of Employees : |
01 |
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 : |
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
Valtec Italia S.r.l.
Via Della Meccanica, 29
Bassona Zai 2
37139 - Verona (Vr) -It-
Summary
|
Fiscal Code |
: |
03154270239 |
|
Legal Form |
: |
Limited Liability Company |
|
start of Activities |
: |
31/07/2001 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
01 |
Activity
Engaged as Wholesale Dealer and Producer of Flexible Packaging
Materials.
Subject product ranges includes:
·
Biaxially-Oriented Polypropylene (BOPP) Films
·
PET Films
·
Polycoated Papers
·
Papers
·
Stretch Film
·
Alu Complex
·
Inks (Nitro PU base inks made with organic pigments, ideal for Flexible
Packaging Substrates, like Paper, Carton, Bopp, Pe, Alu foil, Pet
Chemical treated)
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 03154270239 |
|
Chamber of Commerce no. : 149840 of
Pistoia |
|
Chamber of Commerce no. : 312879 of Verona
since 27/07/2001 |
|
Firms' Register : VR-2001-48106 of Verona |
|
V.A.T. Code : 03154270239 |
|
Establishment date |
: 17/07/2001 |
|
|
Start of Activities |
: 31/07/2001 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 60.000 |
|
|
Subscribed Capital |
: 60.000 |
|
|
Paid up Capital |
: 60.000 |
Members
|
|
De Gara |
Giorgio |
|
|
Born in Verona |
(VR) |
on 03/03/1966 |
- Fiscal Code : DGRGRG66C03L781G |
|
|
Residence: |
Tezone |
, 5 |
- 37122 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2012 |
||
|
Board Chairman |
28/04/2012 |
||
|
Managing Director |
28/04/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Sissa |
Corinna |
|
|
Born in Moglia |
(MN) |
on 29/02/1952 |
- Fiscal Code : SSSCNN52B69F267W |
|
|
Residence: |
Golosine |
, 160 |
- 37136 |
Verona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
05/02/2009 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Piazzon |
Emiliano |
|
|
Born in Camisano Vicentino |
(VI) |
on 30/09/1957 |
- Fiscal Code : PZZMLN57P30B485I |
|
|
Residence: |
Tasca |
, 134 |
- 35010 |
San Pietro in Gu |
(PD) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2012 |
||
|
Managing Director |
28/04/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Furri |
Andrea |
|
|
Born in Bussolengo |
(VR) |
on 25/06/1971 |
- Fiscal Code : FRRNDR71H25B296Z |
|
|
Residence: |
Enrico Fermi |
, 3B |
- 37060 |
Sona |
(VR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2012 |
||
|
Managing Director |
28/04/2012 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Delios S.p.a. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Pidigi Spa |
|
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.
|
|
De Gara |
Giorgio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Pidigi Spa |
Verona (VR) - IT - |
00215260233 |
Director |
Active |
Registered |
|
Pidigi Spa |
Verona (VR) - IT - |
00215260233 |
Procurator |
Active |
Registered |
|
Pidigi Spa |
Verona (VR) - IT - |
00215260233 |
Managing
Director |
Active |
Registered |
|
Despa S.p.a. |
Verona (VR) - IT - |
00927130179 |
Director |
Active |
Registered |
|
Despa S.p.a. |
Verona (VR) - IT - |
00927130179 |
Managing
Director |
Active |
Registered |
|
De Gara S.r.l. |
Montichiari (BS) - IT - |
01174320174 |
Director |
Active |
Registered |
|
Arianna S.r.l. |
Darfo Boario Terme (BS) - IT - |
01730650171 |
Director |
Active |
Registered |
|
Mtv - Microtecnica Veronese - Societa'
AResponsabilita' Limitata Oppure Con Sig |
Verona (VR) - IT - |
01965690231 |
Director |
Withdrawn |
Registered |
|
Ledrover Srl |
Verona (VR) - IT - |
01383890231 |
Director |
Active |
Registered |
|
Ledrover Srl |
Verona (VR) - IT - |
01383890231 |
Managing
Director |
Active |
Registered |
|
Delga S.p.a. |
Montichiari (BS) - IT - |
02449760988 |
Director |
Active |
Registered |
|
Delga S.p.a. |
Montichiari (BS) - IT - |
02449760988 |
Managing
Director |
Active |
Registered |
|
Delga S.p.a. |
Montichiari (BS) - IT - |
02449760988 |
Board Chairman |
Active |
Registered |
|
Delios S.p.a. |
Verona (VR) - IT - |
03549980237 |
Director |
Active |
Registered |
|
Delios S.p.a. |
Verona (VR) - IT - |
03549980237 |
Managing
Director |
Active |
Registered |
|
Agrisviluppo Societa' Agricola A
Responsabilita' Limitata |
Verona (VR) - IT - |
02992950986 |
Director |
Active |
Registered |
|
Agrisviluppo Societa' Agricola A
Responsabilita' Limitata |
Verona (VR) - IT - |
02992950986 |
Managing
Director |
Active |
Registered |
|
Agrisviluppo Societa' Agricola A
Responsabilita' Limitata |
Verona (VR) - IT - |
02992950986 |
Board Chairman |
Active |
Registered |
|
Immobiliare Despa S.r.l. |
Montichiari (BS) - IT - |
03380030985 |
Director |
Active |
Registered |
|
De Gara Firenze S.r.l. |
Sesto Fiorentino (FI) - IT - |
06401910481 |
Director |
Active |
Registered |
|
De Gara Firenze S.r.l. |
Sesto Fiorentino (FI) - IT - |
06401910481 |
Managing
Director |
Active |
Registered |
|
Gruppo Sportivo Adige Associazione
Sportiva Dilettantistica |
Verona (VR) - IT - |
93179600239 |
Vice-Chairman |
Active |
Registered |
|
|
Piazzon |
Emiliano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Huber Italia S.p.a. |
Bolzano Vicentino (VI) - IT - |
02502660240 |
Attorney with
special power |
Withdrawn |
Registered |
|
Epack Di Emiliano Piazzon |
San Pietro in Gu (PD) - IT - |
PZZMLN57P30B485I |
Proprietor |
Withdrawn |
Registered |
|
|
Furri |
Andrea |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Pidigi Spa |
Verona (VR) - IT - |
00215260233 |
Procurator |
Active |
Registered |
|
Mtv - Microtecnica Veronese - Societa'
AResponsabilita' Limitata Oppure Con Sig |
Verona (VR) - IT - |
01965690231 |
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.
Capital
Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Piazzon Emiliano |
San Pietro in Gu - IT - |
PZZMLN57P30B485I |
18.000 .Eur |
30,00 |
|
Delios S.p.a. |
03549980237 |
26.000 .Eur |
43,33 |
|
|
Pidigi Spa |
00215260233 |
16.000 .Eur |
26,66 |
Direct
Participations
The Company under review has no
participations in other Companies.
Firm's
location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and
operative seat |
|
Della Meccanica |
, 29 |
- 37100 |
- Verona |
(VR) |
- IT - |
|
- |
Branch |
(Store) |
since 10/05/2004 |
|
Della Meccanica |
, 29 |
- 37100 |
- Verona |
(VR) |
- IT - |
|
PHONE |
: 0573919040 |
|
FAX |
: 0573918119 |
|
Employees |
: 1 |
|
Stocks for a value of 140.000 |
Eur |
Historical Information and/or Firm's Status
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 economic-financial analysis has been
made on the base of the b/s of the latest three years.
During the last years, it recorded positive
net results (r.o.e. 17,2% in 2013) with a stable trend in the turnover.
The operating result in 2013 was positive
(4,92%) falling within the field's average.
An operating result of Eur. 169.405 has been
registered. showing a downwards trend equal to -28,79% if compared to the value
of the financial year 2012.
The economic management produced a gross
operating margin of Eur. 267.982 on the same levels as the previous financial
year.
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 4,05 increasing as against 2012.
With regard to equity capital, an amount of
Eur. 613.707 is registered. , rising by 20,77%.
The financial management has recorded total
debts amounting to Eur. 2.819.432, , showing an upward trend if compared to
2012.
Available funds are good.
Eur. 204.122 is the value of cash flow
during the year 2013
Subordinate employment cost is of Eur.
43.281, i.e. 0,52% on total production costs. and a 0,52% incidence on sales
volumes.
The financial management has a limited
economic impact, equal to -0,12% on the sales.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.301.789 |
|
Profit (Loss) for the period |
105.545 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.122.257 |
|
Profit (Loss) for the period |
112.876 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.654.729 |
|
Profit (Loss) for the period |
272.316 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.842.921 |
|
Profit (Loss) for the period |
91.194 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.037.152 |
|
Profit (Loss) for the period |
-26.345 |
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 |
0,00 |
0,00 |
n.c. |
0,43 |
|
Elasticity Ratio |
Units |
1,00 |
1,00 |
1,00 |
0,55 |
|
Availability of stock |
Units |
0,04 |
0,02 |
0,05 |
0,12 |
|
Total Liquidity Ratio |
Units |
0,96 |
0,98 |
0,95 |
0,40 |
|
Quick Ratio |
Units |
0,10 |
0,25 |
0,07 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
4,05 |
3,08 |
5,36 |
1,49 |
|
Self Financing Ratio |
Units |
0,18 |
0,18 |
0,14 |
0,29 |
|
Capital protection Ratio |
Units |
0,73 |
0,66 |
0,16 |
0,76 |
|
Liabilities consolidation quotient |
Units |
0,00 |
0,00 |
0,00 |
0,29 |
|
Financing |
Units |
4,59 |
4,44 |
5,86 |
2,09 |
|
Permanent Indebtedness Ratio |
Units |
0,18 |
0,18 |
0,14 |
0,47 |
|
M/L term Debts Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
0,00 |
n.c. |
0,66 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
88,28 |
56,71 |
n.c. |
1,13 |
|
Current ratio |
Units |
1,22 |
1,22 |
1,18 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,17 |
1,20 |
1,12 |
0,81 |
|
Structure's primary quotient |
Units |
87,67 |
56,46 |
n.c. |
0,65 |
|
Treasury's primary quotient |
Units |
0,12 |
0,31 |
0,09 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
560,94 |
544,68 |
693,27 |
347,40 |
|
Current Capital ( net ) |
Value |
616.117 |
501.750 |
423.934 |
277.456 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,46 |
1,49 |
4,21 |
3,75 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
17,20 |
22,21 |
68,89 |
0,03 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
25,99 |
33,05 |
99,21 |
0,71 |
|
Return on Investment ( R.O.I. ) |
% |
4,92 |
8,60 |
10,28 |
2,25 |
|
Return/ Sales |
% |
2,04 |
2,93 |
4,23 |
2,41 |
|
Extra Management revenues/charges incid. |
% |
62,30 |
47,44 |
96,69 |
15,06 |
|
Cash Flow |
Value |
204.122 |
120.724 |
279.990 |
375.939 |
|
Operating Profit |
Value |
169.405 |
237.921 |
281.631 |
75.030 |
|
Gross Operating Margin |
Value |
267.982 |
245.769 |
289.305 |
984.767 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
79,83 |
n.c. |
115,37 |
|
Debts to suppliers average term |
Days |
n.c. |
69,11 |
n.c. |
130,42 |
|
Average stock waiting period |
Days |
6,06 |
2,38 |
7,52 |
51,55 |
|
Rate of capital employed return ( Turnover
) |
Units |
2,41 |
2,93 |
2,43 |
0,94 |
|
Rate of stock return |
Units |
59,38 |
151,09 |
47,84 |
6,98 |
|
Labour cost incidence |
% |
0,52 |
0,46 |
0,32 |
14,75 |
|
Net financial revenues/ charges incidence |
% |
-0,12 |
-0,86 |
1,66 |
-2,34 |
|
Labour cost on purchasing expenses |
% |
0,52 |
0,47 |
0,33 |
14,06 |
|
Short-term financing charges |
% |
0,56 |
3,79 |
n.c. |
3,03 |
|
Capital on hand |
% |
41,47 |
34,08 |
41,18 |
105,97 |
|
Sales pro employee |
Value |
8.301.789 |
8.122.257 |
268.685 |
|
|
Labour cost pro employee |
Value |
43.281 |
36.979 |
34.580 |
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 210
significant companies.
The companies cash their credits on an
average of 115 dd.
The average duration of suppliers debts is
about 130 dd.
The sector's profitability is on an average
of 3,75%.
The labour cost affects the turnover in the
measure of 14,75%.
Goods are held in stock in a range of 52 dd.
The difference between the sales volume and
the resources used to realize it is about 0,94.
The employees costs represent the 14,06% of
the production costs.
Statistical
Detrimental Data
Statistically 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 2.673.
The insolvency index for the region is 0,30,
, while for the province it is 0,31.
Total Bankrupt companies in the province :
2.982.
Total Bankrupt companies in the region :
16.714.
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
: |
DIV |
|
|
|
|
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.