|
Report No. : |
329748 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
AAKON POLICHIMICA
S.R.L. |
|
|
|
|
Registered Office : |
Via Cantoni Giovanni, 7, 20144 – Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.11.1977 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacture of Other Inorganic-Based Chemicals. · Wholesale of Chemical Products. · Wholesale of Fertilizers and Other Agricultural Chemical Products. |
|
|
|
|
No. of Employees : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Italy |
A1 |
A1 |
|
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 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 132%
of GDP in 2014, 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 tax evasion. In 2014 economic growth and labor market
conditions continued to deteriorate, with overall unemployment rising to 12.2%
and youth unemployment around 40%. Italy's GDP is now nearly 10% below its 2007
pre-crisis level.
|
Source
: CIA |
AAKON POLICHIMICA S.R.L.
Via Cantoni Giovanni, 7,
20144 – Milano (MI)
|
Fiscal
Code |
: |
03834140158 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
16/11/1977 |
|
Equity |
: |
500.000
|
|
Turnover
Range |
: |
3.000.000/3.750.000
|
|
Number
of Employees |
: |
from
1 to 5 |
Manufacture
of other inorganic-based chemicals
Wholesale
of chemical products
Wholesale
of fertilizers and other agricultural chemical products
Legal
Form : Limited liability company
|
Fiscal
Code : 03834140158 |
|
Foreign
Trade Reg. no. : MI006003 since 03/12/1991 |
|
Chamber
of Commerce no. : 975330 of Milano since 13/12/1977 |
|
Firms'
Register : MI146-178771 of Milano since 23/02/1996 |
|
V.A.T.
Code : 03834140158 |
|
Foundation
date |
:
16/11/1977 |
|
Establishment
date |
:
16/11/1977 |
|
Start
of Activities |
:
16/11/1977 |
|
Legal
duration |
:
31/12/2030 |
|
Nominal
Capital |
:
100.000 |
|
Subscribed
Capital |
:
100.000 |
|
Paid
up Capital |
:
100.000 |
|
Legal
Mail : |
|
|
Zei |
Francesco |
|
|
Born
in Milano |
(MI) |
on
09/02/1933 |
-
Fiscal Code : ZEIFNC33B09F205X |
|
|
Residence: |
Verga
Andrea |
,
4 |
-
20144 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
11/07/2004 |
||
|
Partner |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Zei |
Stefano |
|
|
Born
in Milano |
(MI) |
on
27/05/1965 |
-
Fiscal Code : ZEISFN65E27F205F |
|
|
Residence: |
Balbo
Cesare |
,
6 |
-
20136 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
11/07/2005 |
||
|
Board
Chairman |
27/11/2014 |
||
|
Managing
Director |
27/11/2014 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Girardi |
Maurizio |
|
|
Born
in Milano |
(MI) |
on
30/09/1956 |
-
Fiscal Code : GRRMRZ56P30F205E |
|
|
Residence: |
Monte
Ceneri |
,
14 |
-
20155 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
05/02/2014 |
||
|
Managing
Director |
05/02/2014 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
*checkings
have been performed on a national scale.
In
this module the companies in which members hold/held positions are listed.
The
Members of the subject firm are not reported to be Members in other companies.
Shareholders'
list as at date of data collection:
|
Firm's
Style / Name |
Seat
/ Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Zei
Francesco |
Milano
- IT - |
ZEIFNC33B09F205X |
95.000
.Eur |
95,00 |
|
Zei
Stefano |
Milano
- IT - |
ZEISFN65E27F205F |
5.000
.Eur |
5,00 |
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 |
(Wholesale
store) |
since
17/04/2002 |
|
Cantoni
Giovanni |
,
7 |
-
20100 |
-
Milano |
(MI) |
-
IT - |
|
Trading
Style: Aaakon Polichimica |
|
Total
Surface: 180 Sq.mt. |
|
PHONE |
:
024695800 |
|
FAX |
:
024986096 |
|
Email |
:
info@aakon.it |
|
Legal
mail |
:
AAKON-PEC@GLOBALMAIL.IT |
|
- |
Branch |
(office) |
since
01/01/2002 |
|
Cantoni
Giovanni |
,
7 |
-
20100 |
-
Milano |
(MI) |
-
IT - |
|
Employees |
:
4 |
|
Assistants |
:
1 |
|
Fittings
and Equipment for a value of 44.000 |
Eur |
|
Stocks
for a value of 150.000 |
Eur |
|
Furniture
and fittings for a value of 5.000 |
Eur |
|
Vehicles
for a value of 41.000 |
Eur |
To
purchase foreign products the firm uses the following channels :
|
-
its own sales net-work |
|
-
direct orders to foreign companies |
|
-
joint-ventures with foreign companies |
CHANGES
TO THE LEGAL FORM:
|
Former
legal form |
New
legal form |
Changement
Date |
|
Limited
liability company |
Joint
stock company |
28/01/1982 |
COMPANY
STYLE MODIFICATIONS:
|
Former
Style |
New
Style |
Changement
Date |
|
Polichimica
Srl |
Prodotti
Polichimica SpA |
28/01/1982 |
|
Prodotti
Polichimica SpA |
Aakon
Polichimica SpA |
01/08/2001 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The
firm took over the activity of |
|
AAKON S.R.L. |
|
|
Magenta |
,
43 |
,
20100 |
,
Milano |
(MI) |
-
IT - |
|
|
Fiscal
Code: 07329330158 |
|
|
Date
|
:
|
01/08/2001 |
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.
The
company is active since 1977
An
eco-fin analysis has been made on the base od the b/s fo the years 2011, 2012
and 2013.
During
the last years, it recorded positive net results (r.o.e. 2,24% in 2013)
The
operating result in 2013 was positive (1,31%) falling within the field's
average.
The
operating result is positive and amounts to Eur. 17.524 with a -88,39% drop.
During
the latest financial year the gross operating margin amounted to Eur. 36.679
recording a -78,85% decrease.
The
company has an excellent net worth if compared to its debts, with a low
indebtedness (0,92) but slighlty increasing.
The
equity capital is equal to Eur. 414.609 with a -32,28% fall.
During
the last financial year total debts volume reached Eur. 605.523 (Eur. 1.929
were m/l term ones) with a downward trend if compared to the preceding year
(-22,71%).
Current
liquid assets is positive.
2013
financial year closed with a cash flow of Eur. 28.435
Labour
cost amounts to Eur. 678.705, with a 19,03% incidence on production costs. ,
with a 18,42% incidence on turnover.
The
financial management has a limited economic impact, equal to -0,05% on the
sales.
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
3.684.239 |
|
Profit
(Loss) for the period |
9.280 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
4.959.025 |
|
Profit
(Loss) for the period |
78.348 |
|
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
4.546.376 |
|
Profit
(Loss) for the period |
105.558 |
|
|
Complete
balance-sheet for the year |
al
31/12/2010 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
3.081.235 |
|
Profit
(Loss) for the period |
17.802 |
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 |
0,02 |
0,02 |
0,11 |
|
Elasticity
Ratio |
Units |
0,94 |
0,95 |
0,95 |
0,87 |
|
Availability
of stock |
Units |
0,11 |
0,12 |
0,08 |
0,22 |
|
Total
Liquidity Ratio |
Units |
0,83 |
0,84 |
0,87 |
0,56 |
|
Quick
Ratio |
Units |
0,17 |
0,23 |
0,11 |
0,02 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
0,92 |
0,55 |
1,07 |
3,81 |
|
Self
Financing Ratio |
Units |
0,31 |
0,32 |
0,34 |
0,17 |
|
Capital
protection Ratio |
Units |
0,74 |
0,58 |
0,49 |
0,65 |
|
Liabilities
consolidation quotient |
Units |
0,41 |
0,44 |
0,33 |
0,12 |
|
Financing |
Units |
1,46 |
1,28 |
1,39 |
4,72 |
|
Permanent
Indebtedness Ratio |
Units |
0,50 |
0,50 |
0,50 |
0,30 |
|
M/L
term Debts Ratio |
Units |
0,19 |
0,18 |
0,16 |
0,07 |
|
Net
Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,28 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
20,21 |
23,69 |
31,24 |
2,06 |
|
Current
ratio |
Units |
2,10 |
2,33 |
1,99 |
1,16 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
1,85 |
2,04 |
1,82 |
0,84 |
|
Structure's
primary quotient |
Units |
12,61 |
15,23 |
21,33 |
1,28 |
|
Treasury's
primary quotient |
Units |
0,37 |
0,57 |
0,23 |
0,03 |
|
Rate
of indebtedness ( Leverage ) |
% |
323,76 |
308,17 |
290,31 |
591,61 |
|
Current
Capital ( net ) |
Value |
663.949 |
1.024.464 |
841.515 |
219.071 |
|
RETURN |
|||||
|
Return
on Sales |
% |
0,77 |
2,03 |
2,88 |
2,22 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
2,24 |
12,80 |
17,27 |
6,27 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
9,01 |
24,64 |
31,23 |
15,95 |
|
Return
on Investment ( R.O.I. ) |
% |
1,31 |
8,00 |
10,61 |
4,19 |
|
Return/
Sales |
% |
0,48 |
3,04 |
4,14 |
3,42 |
|
Extra
Management revenues/charges incid. |
% |
52,96 |
51,89 |
56,07 |
29,26 |
|
Cash
Flow |
Value |
28.435 |
100.782 |
131.093 |
61.669 |
|
Operating
Profit |
Value |
17.524 |
150.995 |
188.263 |
95.558 |
|
Gross
Operating Margin |
Value |
36.679 |
173.429 |
213.798 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
n.c. |
n.c. |
n.c. |
120,94 |
|
Debts
to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
120,04 |
|
Average
stock waiting period |
Days |
14,60 |
15,95 |
11,83 |
61,92 |
|
Rate
of capital employed return ( Turnover ) |
Units |
2,74 |
2,63 |
2,56 |
1,27 |
|
Rate
of stock return |
Units |
24,65 |
22,57 |
30,43 |
5,74 |
|
Labour
cost incidence |
% |
18,42 |
16,04 |
14,74 |
7,77 |
|
Net
financial revenues/ charges incidence |
% |
-0,05 |
0,00 |
0,06 |
-1,26 |
|
Labour
cost on purchasing expenses |
% |
19,03 |
16,48 |
15,35 |
7,90 |
|
Short-term
financing charges |
% |
0,35 |
0,18 |
n.c. |
2,67 |
|
Capital
on hand |
% |
36,43 |
38,05 |
39,03 |
78,39 |
|
Sales
pro employee |
Value |
175.439 |
206.626 |
227.318 |
437.713 |
|
Labour
cost pro employee |
Value |
32.319 |
33.151 |
33.496 |
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 |
:
|
3.839.216 |
|
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 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.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
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.