|
Report No. : |
330621 |
|
Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
EUROCOLOR S.P.A. |
|
|
|
|
Registered Office : |
Via Emilia Pontente 593 48014 Castel Bolognese |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.11.2009 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of paints, varnishes and similar coatings, printing ink
and synthetic adhesives. |
|
|
|
|
No. of Employee : |
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 |
|
EUROCOLOR S.P.A. |
|
Via Emilia Ponente, 593 48014 - Castel Bolognese (RA) -IT- |
|
Fiscal Code |
: |
02351720392 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
02/11/2009 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
15.500.000/18.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Manufacture of paints, varnishes and similar coatings, printing ink and
synthetic adhesives
Legal Form : Joint stock company
|
Fiscal Code : 02351720392 |
|
Chamber of Commerce no. : 194075 of Ravenna since 13/10/2009 |
|
V.A.T. Code : 02351720392 |
|
Establishment date |
: 07/10/2009 |
|
|
Start of Activities |
: 02/11/2009 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 550.000 |
|
|
Subscribed Capital |
: 550.000 |
|
|
Paid up Capital |
: 550.000 |
|
Legal mail : |
EUROCOLORSPA@LEGALMAIL.IT |
|
Kem Color S.p.a. |
|
Residence: |
Della Cebrosa |
, 58 |
- 10036 |
Settimo Torinese |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Chidichino |
Giulio |
|
Born in Firenze |
(FI) |
on 17/11/1941 |
- Fiscal Code : CHDGLI41S17D612X |
|
Residence: |
Diaz De La Fuente |
, 21 |
Esplugues Lobregat Barcellona |
- ES - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/03/2012 |
||
|
Board Chairman |
15/03/2012 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Di Cesare |
Antonio |
|
Born in Castelvecchio Subequo |
(AQ) |
on 31/07/1950 |
- Fiscal Code : DCSNTN50L31C279M |
|
Residence: |
Speranza |
, 85 |
- 10099 |
San Mauro Torinese |
(TO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/03/2012 |
||
|
Managing Director |
15/03/2012 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Sifir - Societa' Italiana Fiduciaria E D |
I Revisione S.r.l. |
|
Residence: |
Degli Agresti |
, 6 |
- 40123 |
Bologna |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Bernabe' |
Giovanni |
|
Born in Faenza |
(RA) |
on 18/12/1960 |
- Fiscal Code : BRNGNN60T18D458F |
|
Residence: |
Montebrullo |
, 1573 |
- 48018 |
Castel Bolognese |
(RA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/05/2013 |
||
|
Managing Director |
15/05/2013 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Colorantes Industriales Sociedad Anonima |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
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.
|
Chidichino |
Giulio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Societa' Esercizio Industrie Chimiche Italiane- S.e.i.c.i. - S.p.a. |
Torino (TO) - IT - |
00469390017 |
Managing
Director |
Active |
Registered |
|
Societa' Esercizio Industrie Chimiche Italiane- S.e.i.c.i. - S.p.a. |
Torino (TO) - IT - |
00469390017 |
Director |
Active |
Registered |
|
Kem Color S.p.a. |
Settimo Torinese (TO) - IT - |
05738240018 |
Director |
Active |
Registered |
|
Kem Color S.p.a. |
Settimo Torinese (TO) - IT - |
05738240018 |
Board Chairman |
Active |
Registered |
|
Colorantes Italia S.r.l. |
Castelfranco di Sotto (PI) - IT - |
01394020505 |
Director |
Active |
Registered |
|
Di Cesare |
Antonio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Societa' Esercizio Industrie Chimiche Italiane- S.e.i.c.i. - S.p.a. |
Torino (TO) - IT - |
00469390017 |
Director |
Active |
Registered |
|
Societa' Esercizio Industrie Chimiche Italiane- S.e.i.c.i. - S.p.a. |
Torino (TO) - IT - |
00469390017 |
Board Chairman |
Active |
Registered |
|
Kem Color S.p.a. |
Settimo Torinese (TO) - IT - |
05738240018 |
Managing
Director |
Active |
Registered |
|
Kem Color S.p.a. |
Settimo Torinese (TO) - IT - |
05738240018 |
Director |
Active |
Registered |
|
Officina +39 S.r.l. |
Biella (BI) - IT - |
02402480020 |
Director |
Withdrawn |
Registered |
|
Cebrosa Carburanti S.a.s. Di Davide Di Cesare E C. |
Settimo Torinese (TO) - IT - |
10091280015 |
Limited Partner |
Withdrawn |
Registered |
|
Bernabe' |
Giovanni |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Eurofin S.p.a. |
Castel Bolognese (RA) - IT - |
00085740397 |
Director |
Withdrawn |
Registered |
|
Eurofin S.p.a. |
Castel Bolognese (RA) - IT - |
00085740397 |
Attorney with
special power |
Withdrawn |
Registered |
|
Eurofin S.p.a. |
Castel Bolognese (RA) - IT - |
00085740397 |
Assistant board
Chairman |
Withdrawn |
Registered |
|
Eurofin S.p.a. |
Castel Bolognese (RA) - IT - |
00085740397 |
Managing
Director |
Withdrawn |
Registered |
|
Siusi Di Bernabe' Giovanni E C. S.a.s. |
Bologna (BO) - IT - |
03982980371 |
General Partner |
Withdrawn |
Ceased |
|
Siusi Di Bernabe' Giovanni E C. S.a.s. |
Bologna (BO) - IT - |
03982980371 |
Liquidator |
Withdrawn |
Ceased |
|
Societa' Coop.a R.l. La Rondine |
Castel Bolognese (RA) - IT - |
00690210398 |
Vice-Chairman |
Withdrawn |
Ceased |
|
Damanzia Di Giuseppe Bernabe' E C. S.a.s. |
Faenza (RA) - IT - |
01142950391 |
Limited Partner |
Withdrawn |
Ceased |
|
Centro Sperimentale Prove E Misure Di Domenico Gottarelli E C. S.a.s. |
Castel Bolognese (RA) - IT - |
01109510394 |
Limited Partner |
Withdrawn |
Ceased |
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 |
|
Kem Color S.p.a. |
Settimo Torinese - IT - |
05738240018 |
192.500 .Eur |
35,00 |
|
Sifir - Societa' Italiana Fiduciaria E D I Revisione S.r.l. |
Bologna - IT - |
03047100379 |
137.500 .Eur |
25,00 |
|
Negri Renato |
Bologna - IT - |
NGRRNT58R24F205X |
27.500 .Eur |
5,00 |
|
Colorantes Industriales Sociedad Anonima |
192.500 .Eur |
35,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
C.u.ra. Consorzio Utilities Ravenna Soci eta' Consortile A
Responsabilita' Limita |
Ravenna - IT - |
02019950399 |
327 .Eur |
0,90 |
Active |
||
|
Eurocolor - Societa' Consortile A Respon sabilita' Limitata |
02501010397 |
16.000 .Eur |
40,00 |
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Emilia Ponente |
, 593 |
- 48014 |
- Castel Bolognese |
(RA) |
- IT - |
|
Legal mail |
: EUROCOLORSPA@LEGALMAIL.IT |
|
- |
Branch |
(Warehouse) |
since 02/11/2009 |
|
Emilia Ponente |
, 634 |
- 48014 |
- Castel Bolognese |
(RA) |
- IT - |
|
- |
Branch |
(Factory) |
since 02/11/2009 |
|
Iv Novembre |
, 161 |
- 48014 |
- Castel Bolognese |
(RA) |
- IT - |
|
Employees |
: 57 |
|
Fittings and Equipment for a value of 220.000 |
Eur |
|
Stocks for a value of 4.090.000 |
Eur |
CEASINGS/INCORPORATIONS/MERGES:
|
The firm took over the activity of |
|
Eurofin S.p.a. |
|
Emilia Ponente |
, 593 |
, 48014 |
, Castel Bolognese |
(RA) |
- IT - |
|
Fiscal Code: 00085740397 |
|
Date |
: |
20/10/2009 |
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 2009.
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. 15,6% in
2013) with an increase in 2013 (+15,56%).
The operating result was positive in the last financial year (8,59%)
falling within the field's average.
The amount of the operating result for the year 2013 is of Eur.
1.231.110 rising (+47,49%) in relation to the previous year.
The G.O.M. amounted to Eur. 1.708.548 showing an upward trend if
compared to 2012.
Indebtedness is scanty since debts are lower than liquidity.
With regard to equity capital, an amount of Eur. 3.566.419 is
registered. , unchanged if compared to 2012.
Total indebtedness was equal to Eur. 20.696 (Eur. 20.696 was the value
of m/l term debts) as opposed to Eur. 7.790.573 in 2012, with a decrease equal
to -99,73%.
As far as the collection of credit goes, the average is high (157,06
days). also in relation to the average of the sector.
Eur. 1.033.857 is the value of cash flow during the year 2013
Labour cost expenses amount to Eur. 1.824.114 , representing 10,58% on
the total of production costs. , whereas 10,55% is the incidence on sales
revenues.
High incidence of financial charges on turnover.
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.294.186 |
|
Profit (Loss) for the period |
556.419 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.964.475 |
|
Profit (Loss) for the period |
436.460 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.087.327 |
|
Profit (Loss) for the period |
60.648 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.542.524 |
|
Profit (Loss) for the period |
172.825 |
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.770.604 |
|
Profit (Loss) for the period |
-55.140 |
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 |
0,12 |
0,16 |
0,18 |
0,29 |
|
Elasticity Ratio |
Units |
0,88 |
0,84 |
0,82 |
0,70 |
|
Availability of stock |
Units |
0,29 |
0,24 |
0,22 |
0,16 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,60 |
0,60 |
0,51 |
|
Quick Ratio |
Units |
0,03 |
0,05 |
0,05 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
1,96 |
2,48 |
1,70 |
|
Self Financing Ratio |
Units |
0,25 |
0,30 |
0,25 |
0,25 |
|
Capital protection Ratio |
Units |
0,69 |
0,73 |
0,81 |
0,74 |
|
Liabilities consolidation quotient |
Units |
n.c. |
0,07 |
0,05 |
0,25 |
|
Financing |
Units |
0,01 |
2,15 |
2,69 |
2,65 |
|
Permanent Indebtedness Ratio |
Units |
0,29 |
0,34 |
0,29 |
0,47 |
|
M/L term Debts Ratio |
Units |
0,04 |
0,04 |
0,04 |
0,15 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
1,17 |
1,75 |
1,09 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,45 |
2,13 |
1,63 |
1,41 |
|
Current ratio |
Units |
n.c. |
1,32 |
1,21 |
1,33 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
n.c. |
0,94 |
0,88 |
1,01 |
|
Structure's primary quotient |
Units |
2,11 |
1,86 |
1,42 |
0,80 |
|
Treasury's primary quotient |
Units |
n.c. |
0,09 |
0,08 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
401,97 |
337,33 |
395,89 |
397,48 |
|
Current Capital ( net ) |
Value |
12.644.400 |
2.518.169 |
1.801.526 |
426.243 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,98 |
6,31 |
4,17 |
4,43 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
15,60 |
12,04 |
1,90 |
2,69 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
25,99 |
19,21 |
6,50 |
7,32 |
|
Return on Investment ( R.O.I. ) |
% |
8,59 |
6,83 |
2,67 |
3,84 |
|
Return/ Sales |
% |
7,12 |
5,58 |
2,23 |
4,21 |
|
Extra Management revenues/charges incid. |
% |
45,20 |
52,29 |
17,99 |
38,95 |
|
Cash Flow |
Value |
1.033.857 |
944.383 |
628.804 |
207.698 |
|
Operating Profit |
Value |
1.231.110 |
834.703 |
337.192 |
192.997 |
|
Gross Operating Margin |
Value |
1.708.548 |
1.342.626 |
975.348 |
422.876 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
157,06 |
148,86 |
148,33 |
130,87 |
|
Debts to suppliers average term |
Days |
n.c. |
76,62 |
56,94 |
110,41 |
|
Average stock waiting period |
Days |
85,10 |
70,93 |
67,73 |
50,99 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,21 |
1,22 |
1,20 |
1,00 |
|
Rate of stock return |
Units |
4,23 |
5,08 |
5,32 |
7,04 |
|
Labour cost incidence |
% |
10,55 |
11,59 |
11,70 |
13,96 |
|
Net financial revenues/ charges incidence |
% |
-2,00 |
-1,40 |
-0,86 |
-1,78 |
|
Labour cost on purchasing expenses |
% |
10,58 |
12,12 |
11,79 |
14,31 |
|
Short-term financing charges |
% |
1676,01 |
2,68 |
1,52 |
2,92 |
|
Capital on hand |
% |
82,89 |
81,71 |
83,66 |
100,22 |
|
Sales pro employee |
Value |
303.406 |
482.725 |
471.478 |
280.328 |
|
Labour cost pro employee |
Value |
32.002 |
55.926 |
55.186 |
35.422 |
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 |
: |
365.369 |
|
Population living in the region |
: |
4.151.369 |
|
Number of families in the region |
: |
1.748.359 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
425 |
|
- per non food products |
: |
2.063 |
|
- per energy consume |
: |
143 |
The values are calculated on a base of 329 significant companies.
The companies cash their credits on an average of 131 dd.
The average duration of suppliers debts is about 110 dd.
The sector's profitability is on an average of 4,43%.
The labour cost affects the turnover in the measure of 13,96%.
Goods are held in stock in a range of 51 dd.
The difference between the sales volume and the resources used to
realize it is about 1,00.
The employees costs represent the 14,31% of the production costs.
Statistically the trade activity shows trifling crises.
The area is statistically considered moderately risky.
In the region 18.860 protested subjects are found; in the province they
count to 2.146.
The insolvency index for the region is 0,46, , while for the province it
is 0,60.
Total Bankrupt companies in the province : 1.073.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.51 |
|
|
1 |
Rs.97.85 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.