|
Report No. : |
330919 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GIMA -S.P.A. |
|
|
|
|
Registered Office : |
Via Grossi Tommaso, 2, 20121 – Milano (MI)
-IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
09.09.1955 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
·
Manufacture of computer, electronic and optical products;
electro medical apparatus, measuring apparatus and clocks ·
Wholesale of medical and orthopedic products |
|
|
|
|
No. of Employees : |
From 51 to 70 |
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 |
GIMA -S.P.A.
Via Grossi
Tommaso, 2
20121 - Milano (MI) -IT-
|
Fiscal Code |
: |
00734640154 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
09/09/1955 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Manufacture of computer, electronic and optical products; electro
medical apparatus, measuring apparatus and clocks
Wholesale of medical and orthopedic products
Deposit accounts and loans
Legal Form : Joint stock company
|
Fiscal Code : 00734640154 |
|
Foreign Trade Reg. no. : MI167276 since 05/08/1992 |
|
Chamber of Commerce no. : 477226 of Milano since 04/10/1965 |
|
V.A.T. Code : 00734640154 |
|
Foundation date |
: 09/09/1955 |
|
|
Establishment date |
: 09/09/1955 |
|
|
Start of Activities |
: 09/09/1955 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 364.000 |
|
|
Subscribed Capital |
: 364.000 |
|
|
Paid up Capital |
: 364.000 |
|
Legal mail : |
GIMAITALY@PEC.IT |
|
|
Manzoni |
Attilio |
|
|
Born in Milano |
(MI) |
on 21/02/1926 |
- Fiscal Code : MNZTTL26B21F205E |
|
|
Residence: |
Vela Vincenzo |
, 1 |
- 20133 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2013 |
||
|
Board Chairman |
16/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Airone S.r.l. |
|
|
Residence: |
Tommaso Grossi |
, 2 |
- 20121 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Manzoni |
Giulio |
|
|
Born in Milano |
(MI) |
on 19/12/1957 |
- Fiscal Code : MNZGLI57T19F205V |
|
|
Residence: |
Valle Oro |
, 50 |
- 21025 |
Comerio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2013 |
||
|
Managing Director |
16/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Manzoni |
Nicola Giorgio |
|
|
Born in Milano |
(MI) |
on 15/03/1970 |
- Fiscal Code : MNZNLG70C15F205G |
|
|
Residence: |
Vela |
, 1 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2013 |
||
|
Managing Director |
16/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bezzi |
Sandra |
|
|
Born in Milano |
(MI) |
on 25/07/1934 |
- Fiscal Code : BZZSDR34L65F205R |
|
|
Residence: |
Vincenzo Vela |
, 1 |
- 20133 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2013 |
||
|
Assistant board Chairman |
16/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Repetto |
Federica |
|
|
Born in Milano |
(MI) |
on 01/08/1971 |
- Fiscal Code : RPTFRC71M41F205L |
|
|
Residence: |
Vela Vincenzo |
, 1 |
- 20133 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
16/05/2013 |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Manzoni |
Attilio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Immobiliare Chiara S.r.l. |
Busto Arsizio (VA) - IT - |
00689110120 |
Procurator |
Withdrawn |
Ceased |
|
Immobiliare Liotita S.r.l. |
Milano (MI) - IT - |
03420650156 |
Director |
Withdrawn |
Registered |
|
Immobiliare Liotita S.r.l. |
Milano (MI) - IT - |
03420650156 |
Attorney with
special power |
Withdrawn |
Registered |
|
Immobiliare Liotita S.r.l. |
Milano (MI) - IT - |
03420650156 |
Board Chairman |
Withdrawn |
Registered |
|
Cooperativa Edilizia Bacone A Responsabilita' Limitata |
Milano (MI) - IT - |
09828400151 |
Liquidator |
Withdrawn |
Ceased |
|
Velauno Immobiliare S.r.l. |
Milano (MI) - IT - |
03714850967 |
Director |
Active |
Registered |
|
Velauno Immobiliare S.r.l. |
Milano (MI) - IT - |
03714850967 |
Board Chairman |
Active |
Registered |
|
|
Manzoni |
Giulio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Director |
Active |
Registered |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Assistant board
Chairman |
Withdrawn |
Registered |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Managing
Director |
Withdrawn |
Registered |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Board Chairman |
Active |
Registered |
|
|
Manzoni |
Nicola Giorgio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Director |
Active |
Registered |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Assistant board
Chairman |
Active |
Registered |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Managing
Director |
Active |
Registered |
|
Airone S.r.l. |
Milano (MI) - IT - |
03714860966 |
Board Chairman |
Withdrawn |
Registered |
|
|
Bezzi |
Sandra |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Cantieri Nautici Solcio S.p.a. |
Lesa (NO) - IT - |
00112160031 |
Director |
Withdrawn |
Registered |
|
Immobiliare Chiara S.r.l. |
Busto Arsizio (VA) - IT - |
00689110120 |
Procurator |
Withdrawn |
Ceased |
|
Immobiliare Liotita S.r.l. |
Milano (MI) - IT - |
03420650156 |
Attorney with
special power |
Withdrawn |
Registered |
|
Solcio Mare S.r.l. |
Lesa (NO) - IT - |
01894300035 |
Director |
Withdrawn |
Registered |
|
Solcio S.r.l. |
Lesa (NO) - IT - |
02300890031 |
Director |
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.
Shareholders' list as at date of data collection:
|
Firm's Style /
Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Airone S.r.l. |
Milano - IT - |
03714860966 |
336.956 .Eur |
92,57 |
|
Manzoni Giulio |
Comerio - IT - |
MNZGLI57T19F205V |
2.602 .Eur |
0,71 |
|
Manzoni Nicola Giorgio |
Milano - IT - |
MNZNLG70C15F205G |
2.602 .Eur |
0,71 |
|
Manzoni Luca |
MNZLCU61H11F205R |
21.840 .Eur |
6,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Consorzio Ecoped |
Milano - IT - |
05157260968 |
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Grossi Tommaso |
, 2 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
Legal mail |
: GIMAITALY@PEC.IT |
|
- |
Branch |
(Factory) |
since 01/03/2011 |
|
Marconi |
, 1 |
- 20060 |
- Gessate |
(MI) |
- IT - |
|
PHONE |
: 029538541 |
|
Employees |
: 60 |
|
Fittings and Equipment for a value of 1.390.000 |
Eur |
|
Stocks for a value of 11.040.000 |
Eur |
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.
None reported, standing to the latest received edition of the Official
Publications.
The company is active since 1955
Balance sheets for the years 2012, 2013 and 2014 were analyzed.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 11,79% in 2014 with a good increase in turnover (+7,72%
in 2014 compared to 2013 and +14,7% in 2013 compared to 2012).
The operating result was positive in the last financial year (13,35%)
and in line with the sector's average.
The amount of the operating result is equal to Eur. 3.468.884 , with no
sizeable change as opposed to the year before.
The economic management produced a gross operating margin of Eur.
4.065.180 ,with no change if compared to the year before.
From a financial aspect the company's status covers total short-term
debts; the indebtedness volume in 2014 is in fact 0,14 lower than in 2013.
The management generated equity capital for an amount of Eur. 19.614.805
, unchanged if compared to 2013.
Total indebtedness amounts to Eur. 4.828.552, showing a stable trend as
opposed to 2013 (Eur. 4.571.774).
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited which is also lower than the sector average.
Payments are supported by good current assets.
On average trade credits are collected in 68,81 days. , a value lower
than the sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 2.756.407
During 2014 financial year labour costs amounted to Eur. 3.111.299, with
a 12,07% incidence on production costs. , whereas the incidence on sales
revenues is of 11,19%.
The financial charges do not negatively affect the management, as they
are covered by the incomes.
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
27.805.835 |
|
Profit (Loss) for the period |
2.313.376 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.812.971 |
|
Profit (Loss) for the period |
2.377.090 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.504.640 |
|
Profit (Loss) for the period |
1.703.089 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.119.636 |
|
Profit (Loss) for the period |
1.707.603 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.289.104 |
|
Profit (Loss) for the period |
2.592.870 |
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value Type |
as at 31/12/2014 |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,19 |
0,19 |
0,23 |
0,09 |
|
Elasticity Ratio |
Units |
0,77 |
0,75 |
0,70 |
0,89 |
|
Availability of stock |
Units |
0,42 |
0,41 |
0,40 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,34 |
0,34 |
0,30 |
0,54 |
|
Quick Ratio |
Units |
0,08 |
0,06 |
0,04 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,14 |
0,17 |
0,18 |
3,95 |
|
Self Financing Ratio |
Units |
0,76 |
0,75 |
0,75 |
0,17 |
|
Capital protection Ratio |
Units |
0,86 |
0,84 |
0,87 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,21 |
0,24 |
0,36 |
0,10 |
|
Financing |
Units |
0,25 |
0,26 |
0,26 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,79 |
0,79 |
0,81 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,04 |
0,06 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,01 |
1,04 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,23 |
4,10 |
3,50 |
2,37 |
|
Current ratio |
Units |
4,13 |
4,02 |
4,10 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,84 |
1,82 |
1,76 |
0,80 |
|
Structure's primary quotient |
Units |
4,03 |
3,87 |
3,23 |
1,48 |
|
Treasury's primary quotient |
Units |
0,42 |
0,30 |
0,22 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
132,45 |
133,76 |
133,90 |
602,26 |
|
Current Capital ( net ) |
Value |
15.109.188 |
13.251.916 |
11.070.137 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
9,91 |
10,84 |
9,99 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
11,79 |
13,57 |
10,97 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
17,77 |
20,69 |
17,00 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
13,35 |
16,46 |
13,59 |
4,18 |
|
Return/ Sales |
% |
12,48 |
14,95 |
12,56 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
66,69 |
61,61 |
60,27 |
27,96 |
|
Cash Flow |
Value |
2.756.407 |
2.799.120 |
2.249.216 |
44.823 |
|
Operating Profit |
Value |
3.468.884 |
3.858.511 |
2.825.650 |
74.603 |
|
Gross Operating Margin |
Value |
4.065.180 |
4.332.025 |
3.417.590 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
68,81 |
73,76 |
76,07 |
113,70 |
|
Debts to suppliers average term |
Days |
56,37 |
49,94 |
51,52 |
118,14 |
|
Average stock waiting period |
Days |
142,87 |
134,68 |
133,85 |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,07 |
1,10 |
1,08 |
1,25 |
|
Rate of stock return |
Units |
2,52 |
2,67 |
2,69 |
4,88 |
|
Labour cost incidence |
% |
11,19 |
11,25 |
12,01 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
0,01 |
-0,91 |
-0,83 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
12,07 |
12,46 |
12,92 |
8,25 |
|
Short-term financing charges |
% |
0,78 |
5,93 |
5,13 |
2,76 |
|
Capital on hand |
% |
93,43 |
90,79 |
92,37 |
79,85 |
|
Sales pro employee |
Value |
471.285 |
286.810 |
267.912 |
397.742 |
|
Labour cost pro employee |
Value |
52.733 |
32.272 |
32.167 |
33.267 |
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 9.175 significant companies.
The companies cash their credits on an average of 114 dd.
The average duration of suppliers debts is about 118 dd.
The sector's profitability is on an average of 2,03%.
The labour cost affects the turnover in the measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and the resources used to
realize it is about 1,25.
The employees costs represent the 8,25% of the production costs.
Statistically 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.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.