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Report No. : |
330312 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LIABEL S.P.A. |
|
|
|
|
Registered Office : |
Via Salvo D'acquisto, 8, 13900 – Biella (BI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
20.11.1924 |
|
|
|
|
Legal Form : |
Joint Stock Company With Sole Shareholder |
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|
|
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Line of Business : |
Manufacture of other knitted and crocheted apparel |
|
|
|
|
No. of Employees : |
From 71 to 90 |
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 |
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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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
LIABEL S.P.A.
Via Salvo
D'acquisto, 8
13900 - Biella (BI) -IT-
|
Fiscal Code |
: |
00156490021 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
Manufacture of other knitted and crocheted apparel
Legal Form : Joint stock company with sole shareholder
|
Fiscal Code : 00156490021 |
|
Chamber of Commerce no. : 17853 of Biella |
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Firms' Register : 1911 of Biella |
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V.A.T. Code : 00156490021 |
|
Nominal Capital |
: |
|
|
Paid up Capital |
: 7.150.000 |
Companies connected to members *
*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.
Direct Participations
The Company under review has no participations in other Companies.
In order to carry out its activities the firm uses the following
locations:
|
- |
Registered office |
|
- 13050 |
- Pettinengo |
(BI) |
- IT - |
|
Employees |
: 117 |
|
Fittings and Equipment for a value of 580.000 |
Eur |
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.
|
|
Complete balance-sheet for the year |
al 31/12/2007 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
27.355.744 |
|
Profit (Loss) for the period |
876.449 |
|
|
Complete balance-sheet for the year |
al 31/12/2006 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.758.765 |
|
Profit (Loss) for the period |
288.110 |
|
|
Complete balance-sheet for the year |
al 31/12/2005 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.569.450 |
|
Profit (Loss) for the period |
-1.460.156 |
|
|
Complete balance-sheet for the year |
al 31/12/2004 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
26.980.952 |
|
Profit (Loss) for the period |
-815.440 |
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
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- Balance Sheet as at 31/12/2007 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2006 - 12 Mesi - Currency: - Amounts x 1 |
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- Balance Sheet as at 31/12/2005 - 12 Mesi - Currency: - Amounts x 1 |
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RATIOS |
Value Type |
as at 31/12/2007 |
as at 31/12/2006 |
as at 31/12/2005 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,14 |
0,16 |
0,17 |
0,13 |
|
Elasticity Ratio |
Units |
0,81 |
0,82 |
0,81 |
0,84 |
|
Availability of stock |
Units |
0,25 |
0,28 |
0,28 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,55 |
0,53 |
0,53 |
0,56 |
|
Quick Ratio |
Units |
0,04 |
0,03 |
0,06 |
0,02 |
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COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,58 |
0,52 |
0,50 |
2,96 |
|
Self Financing Ratio |
Units |
0,55 |
0,56 |
0,55 |
0,16 |
|
Capital protection Ratio |
Units |
0,54 |
0,55 |
0,65 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,18 |
0,22 |
0,21 |
0,19 |
|
Financing |
Units |
0,66 |
0,59 |
0,63 |
4,32 |
|
Permanent Indebtedness Ratio |
Units |
0,61 |
0,64 |
0,62 |
0,35 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,07 |
0,07 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,01 |
0,02 |
0,06 |
1,21 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,25 |
3,96 |
3,64 |
2,38 |
|
Current ratio |
Units |
2,21 |
2,44 |
2,33 |
1,25 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,51 |
1,58 |
1,51 |
0,89 |
|
Structure's primary quotient |
Units |
3,78 |
3,48 |
3,20 |
1,17 |
|
Treasury's primary quotient |
Units |
0,12 |
0,11 |
0,19 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
181,58 |
175,72 |
180,83 |
589,30 |
|
Current Capital ( net ) |
Value |
14.224.725 |
14.313.209 |
13.848.759 |
352.693 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,87 |
4,31 |
-2,69 |
2,25 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
4,98 |
1,72 |
-8,89 |
4,69 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
6,21 |
3,28 |
-7,61 |
16,55 |
|
Return on Investment ( R.O.I. ) |
% |
2,92 |
1,74 |
-0,05 |
4,65 |
|
Return/ Sales |
% |
3,41 |
2,06 |
-0,06 |
4,07 |
|
Extra Management revenues/charges incid. |
% |
93,90 |
56,31 |
n.c. |
17,79 |
|
Cash Flow |
Value |
1.607.630 |
1.069.389 |
-661.688 |
62.944 |
|
Operating Profit |
Value |
933.315 |
511.564 |
-17.003 |
93.806 |
|
Gross Operating Margin |
Value |
1.665.990 |
1.294.162 |
782.648 |
141.521 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
208,87 |
203,11 |
187,74 |
139,32 |
|
Debts to suppliers average term |
Days |
117,32 |
112,78 |
108,36 |
150,94 |
|
Average stock waiting period |
Days |
108,64 |
123,44 |
123,98 |
77,99 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,85 |
0,84 |
0,82 |
1,13 |
|
Rate of stock return |
Units |
3,31 |
2,91 |
2,90 |
4,61 |
|
Labour cost incidence |
% |
17,54 |
18,46 |
19,88 |
13,22 |
|
Net financial revenues/ charges incidence |
% |
-0,09 |
-0,11 |
-0,34 |
-1,67 |
|
Labour cost on purchasing expenses |
% |
17,85 |
18,68 |
21,14 |
13,78 |
|
Short-term financing charges |
% |
0,69 |
0,83 |
1,36 |
3,03 |
|
Capital on hand |
% |
116,66 |
118,51 |
120,77 |
88,07 |
|
Sales pro employee |
Value |
233.810 |
217.182 |
261.377 |
227.922 |
|
Labour cost pro employee |
Value |
41.024 |
40.100 |
51.982 |
30.648 |
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.
Our Company collects data from public registers, lists, archives or
contained in Acts and/or documents (held by the National Chamber of Commerce or
Immovables Territorial Agency), users, reporters or however generally
accessible (for example, from categorical lists, statistical institutes, press
reports and from public inspection internet sites).
The present report is supplied for Your exclusive use and is bond to the
general conditions of the contract. Personal Data collection and treatment,
reported, are conform to our company's activities and to Your mandate conferred
to us by Your request, for the purposes in relation to Marketing Management,
Sales and Monetary Administration. It does not contain, nor could contain,
information cancelled by a justified opposition right.
|
Population living in the province |
: |
188.197 |
|
Population living in the region |
: |
4.330.172 |
|
Number of families in the region |
: |
1.889.207 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
135 |
The values are calculated on a base of 249 significant companies.
The companies cash their credits on an average of 126 dd.
The average duration of suppliers debts is about 100 dd.
The sector's profitability is on an average of 2,65%.
The labour cost affects the turnover in the measure of 13,02%.
Goods are held in stock in a range of 72 dd.
The difference between the sales volume and the resources used to
realize it is about 1,04.
The employees costs represent the 13,65% of the production costs.
Statistically the trade activity passes through serious crises.
The area is statistically considered lowly risky.
In the region 27.019 protested subjects are found; in the province they
count to 1.057.
The insolvency index for the region is 0,63, , while for the province it
is 0,56.
Total Bankrupt companies in the province : 750.
Total Bankrupt companies in the region : 14.165.
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
: |
SAN |
|
|
|
|
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.