|
Report No. : |
329425 |
|
Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
CONCERIA CADORE S.R.L. |
|
|
|
|
Registered Office : |
Via Lavoro, 23, 36071 – Arzignano (VI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.11.1978 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Preparation and Tanning of Leather; Dressing and Dyeing of Fur |
|
|
|
|
No. of Employees : |
From 91 to 110 |
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 – 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 |
CONCERIA CADORE S.R.L.
Via Lavoro, 23
36071 - Arzignano (VI) -IT-
|
Fiscal Code |
: |
00656130242 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
17/11/1978 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
100.000.000/150.000.000 |
|
Number of Employees |
: |
from 91 to 110 |
Preparation and Tanning of Leather; Dressing and Dyeing of Fur
Legal Form : Limited liability company
|
Register of Handcraft firms : 45524 |
|
Register of Handcraft firms : 45524 of Vicenza since 10/12/1979 until
05/10/1981 |
|
Fiscal Code : 00656130242 |
|
Foreign Trade Reg. no. : VI023304 since 03/01/1992 |
|
Chamber of Commerce no. : 144942 of Vicenza since 23/01/1979 |
|
Firms' Register : VI116-9388 of Vicenza since 19/02/1996 |
|
V.A.T. Code : 00656130242 |
|
Foundation date |
: 17/11/1978 |
|
|
Establishment date |
: 17/11/1978 |
|
|
Start of Activities |
: 17/11/1978 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 8.250.000 |
|
|
Subscribed Capital |
: 8.250.000 |
|
|
Paid up Capital |
: 8.250.000 |
|
Legal mail : |
CONCERIACADORESRL@LEGALMAIL.IT |
|
|
Solda' Bertilla |
|
|
Born in SAREGO |
(VI) |
- Fiscal Code : SLDBTL54L46I430N |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Sartori |
Silvio Mario |
|
|
Born in Sarego |
(VI) |
on 15/06/1945 |
- Fiscal Code : SRTSVM45H15I430T |
|
|
Residence: |
L.einaudi |
, 1 |
- 36071 |
Arzignano |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Sartori |
Silvio Mario |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Conceria Trust S.r.l. |
Chiampo (VI) - IT - |
03702050240 |
Attorney with
special power |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Sartori Silvio Mario |
Arzignano - IT - |
SRTSVM45H15I430T |
4.125.000 .Eur |
50,00 |
|
Solda' Bertilla |
SLDBTL54L46I430N |
4.125.000 .Eur |
50,00 |
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 |
|
Lavoro |
, 23 |
- 36071 |
- Arzignano |
(VI) |
- IT - |
|
PHONE |
: 0444450655 |
|
FAX |
: 0444676223 |
|
Email |
: importpelli@conceriacadore.it |
|
Legal mail |
: CONCERIACADORESRL@LEGALMAIL.IT |
|
Employees |
: 98 |
|
Fittings and Equipment for a value of 830.000 |
Eur |
|
Stocks for a value of 19.230.000 |
Eur |
|
Vehicles for a value of 130.000 |
Eur |
Sales are on an international scale.
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
|
- distributors |
|
- its own agents |
|
- direct orders to foreign companies |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Italy |
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
04/12/1980 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Rifinizione Cadore S.r.l. |
21/12/1996 |
COMPANY'S CAPITAL CHANGES:
|
Former Type |
Former Amount |
New Type |
New Amount |
Changement Date |
|
subcribed,nominal and issued |
255.646Eur |
subcribed,nominal and issued |
4.234.947Eur |
21/12/1996 |
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.
Company's starting of activities dates back to 1978.
An eco-fin analysis has been made on the base od the b/s fo the years
2011, 2012 and 2013.
Under the financial profile unstable results are noted. anyway in 2013 a
positive result was achieved (r.o.e. 7,62%). The turnover is growing in the
last financial year (+24,08%).
The return on Investment in the last financial year was positive (7,77%)
falling within the field's average.
The operating result is positive and amounts to Eur. 4.520.783 rising
(+more then 100%) in relation to the previous year.
A gross operating margine for a value of Eur. 5.291.389 was reached.
growing by more then 100% if compared to the year before.
The analysis shows a fair financial position as the indebtedness volume is
acceptable (3,76) with an improving trend as on the decrease.
The management generated equity capital for an amount of Eur. 10.600.269
, unchanged if compared to 2012.
During the last financial year total debts volume reached Eur. 46.208.086
(Eur. 5.075.522 were m/l term ones) showing a stable trend as opposed to 2012
(Eur. 50.261.226).
Bank borrowings' volume is slightly high but it modestly dips into
suppliers credit, 49,91 gg. is the payments' average time below field's
average.
The liquidity level is positive (1,13).
Trade credits average terms are 68,01 days. , a better value than the
sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 1.519.745
During 2013 financial year labour costs amounted to Eur. 4.366.532, with
a 3,6% incidence on production costs. , whereas 3,49% is the incidence on sales
revenues.
The incidence percentage of financial charges on sales volume is equal
to -2,31%.
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
125.120.020 |
|
Profit (Loss) for the period |
807.534 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
100.837.967 |
|
Profit (Loss) for the period |
-380.702 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
90.806.029 |
|
Profit (Loss) for the period |
272.579 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
88.185.605 |
|
Profit (Loss) for the period |
-386.698 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
57.225.749 |
|
Profit (Loss) for the period |
214.390 |
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 |
0,20 |
0,19 |
0,20 |
0,18 |
|
Elasticity Ratio |
Units |
0,80 |
0,74 |
0,79 |
0,80 |
|
Availability of stock |
Units |
0,33 |
0,30 |
0,40 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,47 |
0,43 |
0,40 |
0,51 |
|
Quick Ratio |
Units |
0,02 |
0,00 |
0,00 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
3,76 |
4,71 |
3,51 |
2,38 |
|
Self Financing Ratio |
Units |
0,18 |
0,16 |
0,19 |
0,24 |
|
Capital protection Ratio |
Units |
0,15 |
0,20 |
0,16 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,11 |
0,18 |
0,18 |
|
Financing |
Units |
4,36 |
5,13 |
4,11 |
2,86 |
|
Permanent Indebtedness Ratio |
Units |
0,29 |
0,24 |
0,31 |
0,38 |
|
M/L term Debts Ratio |
Units |
0,11 |
0,08 |
0,12 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
2,51 |
3,29 |
3,00 |
1,00 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,45 |
1,29 |
1,53 |
1,78 |
|
Current ratio |
Units |
1,13 |
0,98 |
1,17 |
1,25 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,66 |
0,58 |
0,59 |
0,84 |
|
Structure's primary quotient |
Units |
0,91 |
0,84 |
0,94 |
1,07 |
|
Treasury's primary quotient |
Units |
0,03 |
0,00 |
0,00 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
549,08 |
628,89 |
519,52 |
408,81 |
|
Current Capital ( net ) |
Value |
5.334.108 |
-885.174 |
6.091.684 |
312.424 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,21 |
0,68 |
1,20 |
2,67 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
7,62 |
-3,89 |
2,68 |
3,20 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
16,99 |
2,33 |
6,75 |
8,58 |
|
Return on Investment ( R.O.I. ) |
% |
7,77 |
-1,48 |
5,13 |
4,36 |
|
Return/ Sales |
% |
3,61 |
-0,91 |
2,99 |
3,63 |
|
Extra Management revenues/charges incid. |
% |
17,86 |
n.c. |
10,05 |
23,99 |
|
Cash Flow |
Value |
1.519.745 |
683.076 |
1.091.179 |
112.609 |
|
Operating Profit |
Value |
4.520.783 |
-913.826 |
2.711.925 |
127.644 |
|
Gross Operating Margin |
Value |
5.291.389 |
149.952 |
3.638.490 |
230.719 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
68,01 |
84,87 |
70,23 |
101,46 |
|
Debts to suppliers average term |
Days |
49,91 |
64,79 |
45,26 |
94,66 |
|
Average stock waiting period |
Days |
55,33 |
66,97 |
83,09 |
56,34 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,15 |
1,64 |
1,72 |
1,34 |
|
Rate of stock return |
Units |
6,51 |
5,38 |
4,33 |
6,30 |
|
Labour cost incidence |
% |
3,49 |
3,89 |
4,13 |
12,44 |
|
Net financial revenues/ charges incidence |
% |
-2,31 |
-3,95 |
-2,19 |
-1,48 |
|
Labour cost on purchasing expenses |
% |
3,60 |
3,93 |
4,29 |
12,90 |
|
Short-term financing charges |
% |
6,26 |
7,93 |
4,86 |
3,49 |
|
Capital on hand |
% |
46,52 |
61,07 |
58,20 |
74,43 |
|
Sales pro employee |
Value |
920.000 |
826.540 |
987.022 |
253.464 |
|
Labour cost pro employee |
Value |
32.106 |
32.155 |
40.734 |
32.147 |
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 |
: |
831.356 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
The values are calculated on a base of 923 significant companies.
The companies cash their credits on an average of 101 dd.
The average duration of suppliers debts is about 95 dd.
The sector's profitability is on an average of 2,67%.
The labour cost affects the turnover in the measure of 12,44%.
Goods are held in stock in a range of 56 dd.
The difference between the sales volume and the resources used to
realize it is about 1,34.
The employees costs represent the 12,90% of the production costs.
Statistically the trade activity passes through serious crises.
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.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.