|
Report No. : |
330316 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MANTAFIL S.P.A. |
|
|
|
|
Registered Office : |
Galleria De Cristoforis, 3
20122 - Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
21.04.1980 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
From 16 to 25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 |
|
MANTAFIL S.P.A. |
|
Galleria De Cristoforis, 3
20122 - Milano (MI) -IT- |
|
Fiscal Code |
: |
05831970156 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
21/04/1980 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
MANUFACTURE OF TEXTILES
Preparation and spinning of textile fibres
Legal Form : Joint stock company
|
Fiscal Code : 05831970156 |
|
Foreign Trade Reg. no. : MI085072 since 07/01/1992 |
|
Foreign Trade Reg. no. : 085072 of Milano since 07/01/1992 |
|
Chamber of Commerce no. : 185315 of Bergamo since 19/08/1980 |
|
Chamber of Commerce no. : 1040000 of Milano since 16/05/1980 |
|
Firms' Register : MI146-194627 of Milano since 19/02/1996 |
|
V.A.T. Code : 05831970156 |
|
Tribunal Co. Register : 194627 of |
|
Foundation date |
: 21/04/1980 |
|
|
Establishment date |
: 21/04/1980 |
|
|
Start of Activities |
: 21/04/1980 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 5.160.000 |
|
|
Subscribed Capital |
: 5.160.000 |
|
|
Paid up Capital |
: 5.160.000 |
|
Legal mail : |
MASSIMO@PEC.MANTAFIL.COM |
|
Bersini |
Andrea |
|
Born in Palazzolo sull'Oglio |
(BS) |
on 19/11/1949 |
- Fiscal Code : BRSNDR49S19G264O |
|
Residence: |
Papa Giovanni Xxiii |
, 33 |
- 24060 |
Credaro |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
12/01/2015 |
||
|
Director |
12/01/2015 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
L'alba - S.p.a. |
|
Residence: |
De Cristoforis |
, 3 |
- 20122 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Bezzi |
Giuseppe |
|
Born in Sarnico |
(BG) |
on 19/09/1964 |
- Fiscal Code : BZZGPP64P19I437X |
|
Residence: |
Brescia, |
, 9 |
- 24064 |
Grumello del Monte |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
12/01/2015 |
|
Bezzi |
Maria Chiara |
|
Born |
on 22/09/1953 |
- Fiscal Code : BZZMCH53P62D697Q |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Bersini |
Vera |
|
Born |
on 13/02/1979 |
- Fiscal Code : BRSVRE79B53L388P |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
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.
|
Bersini |
Andrea |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
T.e.s.t.a. Tessitura E Stampa Tessuti EAbbigliamento S.p.a. |
Romentino (NO) - IT - |
00111050035 |
Director |
Active |
Registered |
|
L'alba - S.p.a. |
Milano (MI) - IT - |
13161010155 |
Sole Director |
Active |
Registered |
|
MANIFATTURA ARTIGIANA DI BEZZI GIUSEPPEE BERSINI ANDREA S.N.C. |
Milano (BG) - IT - |
00267600161 |
Partner |
Withdrawn |
Registered |
|
Pant-fil S.n.c. Di Andrea Bersini E C. |
Credaro (BG) - IT - |
00853200160 |
Partner |
Withdrawn |
Ceased |
|
BERSINI ANDREA |
CREDARO (BS) - IT - |
BRSNDR49S19G264O |
Proprietor |
Withdrawn |
Registered |
|
FILATURA DI SAN GIUSTO SOC. A R.L. IN LIQUIDAZIONE |
Romentino (TS) - IT - |
00137040325 |
Liquidator |
Withdrawn |
Registered |
|
Immobiliare Alba - S.r.l. |
Milano (MI) - IT - |
04604290967 |
Sole 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 |
|
L'alba - S.p.a. |
Milano - IT - |
13161010155 |
2.579.896 .Eur |
49,99 |
|
Bezzi Maria Chiara |
BZZMCH53P62D697Q |
1.290.051 .Eur |
25,00 |
|
|
Bersini Vera |
BRSVRE79B53L388P |
1.290.051 .Eur |
25,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
T.e.s.t.a. Tessitura E Stampa Tessuti E Abbigliamento S.p.a. |
Romentino - IT - |
00111050035 |
637.000 .Eur |
24,50 |
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
De Cristoforis |
, 3 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 035848748 |
|
Legal mail |
: MASSIMO@PEC.MANTAFIL.COM |
|
- |
Branch |
since 12/06/2003 |
|
San Domenico |
, 6 |
- 20025 |
- Legnano |
(MI) |
- IT - |
|
- |
Branch |
(Factory) |
since 01/06/2011 |
|
Marconi |
, 31 |
- 24050 |
- Mornico Al Serio |
(BG) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 19/11/2012 |
|
Don Alessandro Ravizza |
, 20 |
- 24060 |
- Castelli Calepio |
(BG) |
- IT - |
|
Employees |
: 16 |
|
Fittings and Equipment for a value of 95.000 |
Eur |
|
Stocks for a value of 9.270.000 |
Eur |
|
Vehicles for a value of 150.000 |
Eur |
The firm operates abroad as importer..
Import represents the 40 % of the total purchases.
To purchase foreign products the firm uses the following channels :
|
- distributors |
Import comes generally from the following nations:
|
- Gabon |
CEASINGS/INCORPORATIONS/MERGES:
|
Splitting-up project and setting-up of new co |
|
Date |
Merging/Splitting-up Project-New Company: |
14/02/2004 |
|
Splitting-up and setting-up of a new company |
|
Immobiliare Alba - S.r.l. |
|
De Cristoforis |
, 3 |
, 20122 |
, Milano |
(MI) |
- IT - |
|
Fiscal Code: 04604290967 |
|
Date |
Splitting-up: |
16/11/2004 |
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 firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
SANPAOLO IMI S.P.A. FUS. INTESA SAN PAO |
1025 |
0 |
Company's starting of activities dates back to 1980.
An eco-fin analysis has been made on the base od the b/s fo the years
2012, 2013 and 2014.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 1,17% in 2014
The operating result in 2014 was positive (3,59%) falling within the
field's average.
The operating result is positive and amounts to Eur. 1.519.563 with a
-41,1% fall as against the year 2013.
The G.O.M. amounted to Eur. 1.652.278 showing a drop (-42,82%).
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
4,32 but on the decrease if compared to the year before.
The management generated equity capital for an amount of Eur. 7.914.265
, unchanged if compared to 2013.
Total indebtedness was equal to Eur. 34.258.277 (Eur. 207 was the value
of m/l term debts) showing a stable trend as opposed to 2013 (Eur. 41.927.681).
Bank borrowings' volume is slightly high but it modestly dips into
suppliers credit, 77,33 gg. is the payments' average time below field's
average.
The management determines a good range of liquidity.
Due from customers average term is high and equal to 259,45 days.
besides being higher than the sector's average.
During financial year 2014 the cash flow amounted to Eur. 224.975
Labour cost amounts to Eur. 354.389, with a 0,9% incidence on production
costs. , whereas 0,86% is the incidence on sales revenues.
Financial charges have a high incidence (-2,67%) on turnover figures.
|
Complete balance-sheet for the year |
al 30/06/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
40.996.516 |
|
Profit (Loss) for the period |
92.260 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
83.403.114 |
|
Profit (Loss) for the period |
40.786 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
84.987.089 |
|
Profit (Loss) for the period |
85.454 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
98.190.793 |
|
Profit (Loss) for the period |
232.588 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
106.151.204 |
|
Profit (Loss) for the period |
2.106.698 |
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 30/06/2014 - 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 30/06/2014 |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,03 |
0,02 |
0,02 |
0,29 |
|
Elasticity Ratio |
Units |
0,97 |
0,98 |
0,98 |
0,70 |
|
Availability of stock |
Units |
0,22 |
0,25 |
0,34 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,75 |
0,72 |
0,63 |
0,39 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
4,32 |
5,41 |
5,41 |
1,69 |
|
Self Financing Ratio |
Units |
0,19 |
0,15 |
0,15 |
0,29 |
|
Capital protection Ratio |
Units |
0,32 |
0,33 |
0,32 |
0,71 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,01 |
0,26 |
|
Financing |
Units |
4,33 |
5,42 |
5,45 |
2,12 |
|
Permanent Indebtedness Ratio |
Units |
0,19 |
0,16 |
0,16 |
0,45 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,00 |
0,00 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
3,20 |
3,65 |
3,72 |
0,96 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
7,62 |
7,16 |
7,01 |
1,38 |
|
Current ratio |
Units |
1,20 |
1,16 |
1,16 |
1,25 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
0,86 |
0,75 |
0,75 |
|
Structure's primary quotient |
Units |
7,40 |
6,95 |
6,79 |
0,90 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,01 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
535,08 |
645,57 |
648,77 |
339,62 |
|
Current Capital ( net ) |
Value |
6.799.842 |
6.846.545 |
6.836.998 |
1.615.606 |
|
RETURN |
|||||
|
Return on Sales |
% |
0,55 |
0,42 |
0,66 |
1,74 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,17 |
0,53 |
1,11 |
0,25 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
5,34 |
3,13 |
3,51 |
2,94 |
|
Return on Investment ( R.O.I. ) |
% |
3,59 |
5,17 |
4,37 |
2,31 |
|
Return/ Sales |
% |
3,71 |
3,09 |
2,57 |
2,50 |
|
Extra Management revenues/charges incid. |
% |
6,07 |
1,58 |
3,92 |
8,02 |
|
Cash Flow |
Value |
224.975 |
350.240 |
560.625 |
210.372 |
|
Operating Profit |
Value |
1.519.563 |
2.580.245 |
2.180.450 |
359.192 |
|
Gross Operating Margin |
Value |
1.652.278 |
2.889.699 |
2.655.621 |
692.382 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
259,45 |
145,40 |
124,70 |
111,18 |
|
Debts to suppliers average term |
Days |
77,33 |
61,96 |
54,54 |
104,44 |
|
Average stock waiting period |
Days |
81,43 |
54,47 |
72,46 |
86,89 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,97 |
1,67 |
1,70 |
1,04 |
|
Rate of stock return |
Units |
4,42 |
6,61 |
4,97 |
4,12 |
|
Labour cost incidence |
% |
0,86 |
1,00 |
0,98 |
15,12 |
|
Net financial revenues/ charges incidence |
% |
-2,67 |
-2,80 |
-2,28 |
-2,07 |
|
Labour cost on purchasing expenses |
% |
0,90 |
1,03 |
1,01 |
14,82 |
|
Short-term financing charges |
% |
3,38 |
6,16 |
5,16 |
3,48 |
|
Capital on hand |
% |
103,30 |
59,83 |
58,70 |
95,83 |
|
Sales pro employee |
Value |
3.726.956 |
3.207.812 |
4.856.405 |
237.592 |
|
Labour cost pro employee |
Value |
32.217 |
32.169 |
47.721 |
33.432 |
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 |
Statistically the trade activity passes through serious crises.
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 : |
ANK |
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.