MIRA INFORM REPORT
|
Report No. : |
332619 |
|
Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
VERGALLI ACCIAI S.R.L. |
|
|
|
|
Registered Office : |
Via Amendola, 18 Felegara 43014-Medesano (PR) – IT |
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|
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Country : |
Italy |
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|
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
14.04.1994 |
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|
|
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Legal Form : |
Limited liability company |
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|
|
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Line of Business : |
Wholesale of metals and metalliferous minerals |
|
|
|
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No. of Employees : |
fom 6 to 10 |
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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|
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Payment Behaviour : |
No Complaints |
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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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
Company
name & address
|
Vergalli Acciai
S.r.l. |
|
Via |
Amendola, |
18 FELEGARA |
|
43014 |
- Medesano |
(PR) |
-IT- |
Summary
|
Fiscal Code |
: |
01849880347 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
14/04/1994 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
fom 6 to 10 |
Activity
Wholesale of metals and
metalliferous minerals
Legal
Data
Legal Form : Limited liability
company
|
Fiscal Code : 01849880347 |
|
Chamber of Commerce no. : 183146 of Parma
since 14/02/1994 |
|
V.A.T. Code : 01849880347 |
|
R. E. C. no. : 31230 of Parma since
14/04/1994 |
|
Establishment date |
: 15/12/1993 |
|
|
Start of Activities |
: 14/04/1994 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 10.400 |
|
|
Subscribed Capital |
: 10.400 |
|
|
Paid up Capital |
: 10.400 |
|
Legal mail : |
VERGALLIACCIAI@PEC.IT |
Members
|
|
Vergalli |
Maria |
|
|
Born in Medesano |
(PR) |
on 03/09/1958 |
- Fiscal Code : VRGMRA58P43F082M |
|
|
Residence: |
G. La Pira |
, 14/F |
- 43014 |
Medesano |
(PR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/04/2014 |
||
|
Director |
28/04/2014 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Hiltbrunner |
Patrick |
|
|
Born in Saint Croix |
( ) |
on 29/08/1961 |
- Fiscal Code : HLTPRC61M29Z133D |
|
|
Residence: |
G. La Pira |
, 14/F |
- 43014 |
Medesano |
(PR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
28/04/2014 |
||
|
Director |
28/04/2014 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
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.
Capital
Shareholders
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Vergalli Maria |
Medesano - IT - |
VRGMRA58P43F082M |
9.360 .Eur |
90,00 |
|
Hiltbrunner Patrick |
Medesano - IT - |
HLTPRC61M29Z133D |
1.040 .Eur |
10,00 |
Direct
Participations
The Company under review has no
participations in other Companies.
Firm's
location and structure
In order to carry out its
activities the firm uses the following locations:
|
- |
Legal and operative
seat |
|
Amendola |
, 18 |
- 43014 |
- Medesano |
(PR) |
- IT - |
|
PHONE |
: 0525431675 |
|
FAX |
: 0525430788 |
|
Legal mail |
: VERGALLIACCIAI@PEC.IT |
|
Employees |
: 5 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
39.000 |
Eur |
|
Stocks for a value of 1.270.000 |
Eur |
Protests
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.
Legal
Procedures
None reported, standing to the
latest received edition of the Official Publications.
Financial
and Economical Analysis
Company's starting of activities
dates back to 1994.
Balance sheets for the years
2011, 2012 and 2013 were analyzed.
Under an economic point of view,
profits were registered during the last years with a r.o.e. of 3,11% in 2013
but without a significant increase in the turnover.
The return on Investment in the
last financial year was positive (3,73%) falling within the field's average.
The amount of the operating result
is equal to Eur. 104.948 on stable levels if compared to the previous year.
The gross operating margin of
the latest financial year is of Eur. 149.107 stable if compared to the
financial year 2012.
Very good financial situation:
shareholder's equity covers short-terms debts with an indebtedness level equal
to 0,32 increasing compared to last year (0,27)
With regard to equity capital,
an amount of Eur. 1.938.785 is registered. on stable levels.
Bank exsposure is limited and
the suppliers' credit is modest too, 60,43 gg. is the payment average period
below field's average.
The liquidity level is positive
(3,09).
As far as the collection of
credit goes, the average is high (117,21 days). , as it normally happens in the
sector.
As far as the cash flow is concerned
during the latest financial year it amounted to Eur. 104.487
Subordinate employment cost is
of Eur. 104.704, i.e. 4,28% on total production costs. , whereas the incidence
on sales revenues is of 4,18%.
Financial charges have a limited
incidence (-0,6%) on sales volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.502.601 |
|
Profit (Loss) for the period |
60.328 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.737.964 |
|
Profit (Loss) for the period |
82.290 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.281.468 |
|
Profit (Loss) for the period |
222.293 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.581.734 |
|
Profit (Loss) for the period |
186.618 |
Balance
Sheets
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
|
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 |
0,17 |
0,19 |
0,16 |
0,11 |
|
Elasticity Ratio |
Units |
0,83 |
0,80 |
0,84 |
0,87 |
|
Availability of stock |
Units |
0,45 |
0,43 |
0,34 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,38 |
0,37 |
0,51 |
0,56 |
|
Quick Ratio |
Units |
0,05 |
0,03 |
0,04 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,32 |
0,27 |
0,45 |
3,81 |
|
Self Financing Ratio |
Units |
0,69 |
0,74 |
0,68 |
0,17 |
|
Capital protection Ratio |
Units |
0,96 |
0,95 |
0,78 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,01 |
n.c. |
0,02 |
0,12 |
|
Financing |
Units |
0,37 |
0,29 |
0,51 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,69 |
0,73 |
0,69 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,00 |
n.c. |
0,01 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,06 |
0,00 |
0,03 |
1,28 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,10 |
3,77 |
4,44 |
2,06 |
|
Current ratio |
Units |
3,09 |
3,55 |
2,40 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,41 |
1,63 |
1,44 |
0,84 |
|
Structure's primary quotient |
Units |
4,08 |
3,80 |
4,38 |
1,28 |
|
Treasury's primary quotient |
Units |
0,17 |
0,11 |
0,12 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
145,02 |
135,55 |
146,05 |
591,61 |
|
Current Capital ( net ) |
Value |
1.575.401 |
1.502.826 |
1.478.509 |
219.071 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,18 |
4,26 |
7,10 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
3,11 |
4,29 |
10,79 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
4,51 |
5,66 |
16,46 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
3,73 |
3,97 |
11,25 |
4,19 |
|
Return/ Sales |
% |
4,19 |
3,77 |
7,90 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
57,48 |
79,69 |
65,70 |
29,26 |
|
Cash Flow |
Value |
104.487 |
116.661 |
303.918 |
61.669 |
|
Operating Profit |
Value |
104.948 |
103.262 |
338.366 |
95.558 |
|
Gross Operating Margin |
Value |
149.107 |
137.633 |
419.991 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
117,21 |
102,80 |
108,49 |
120,94 |
|
Debts to suppliers average term |
Days |
60,43 |
69,77 |
74,91 |
120,04 |
|
Average stock waiting period |
Days |
182,36 |
148,82 |
84,95 |
61,92 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,89 |
1,05 |
1,42 |
1,27 |
|
Rate of stock return |
Units |
1,97 |
2,42 |
4,24 |
5,74 |
|
Labour cost incidence |
% |
4,18 |
3,17 |
2,43 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-0,60 |
0,10 |
-0,03 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
4,28 |
3,19 |
2,62 |
7,90 |
|
Short-term financing charges |
% |
2,11 |
n.c. |
0,48 |
2,67 |
|
Capital on hand |
% |
112,35 |
95,04 |
70,26 |
78,39 |
|
Sales pro employee |
Value |
834.200 |
1.368.982 |
1.427.156 |
437.713 |
|
Labour cost pro employee |
Value |
34.901 |
43.415 |
34.703 |
33.928 |
Remarks
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.
Market
/ Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
Monthly family expences average
in the region (in Eur..) :
|
- per food products |
: |
|
|
- per non food products |
: |
|
|
- per energy consume |
: |
|
Sector
Data
The values are calculated on a
base of 6.137 significant companies.
The companies cash their credits
on an average of 121 dd.
The average duration of
suppliers debts is about 120 dd.
The sector's profitability is on
an average of 2,22%.
The labour cost affects the
turnover in the measure of 7,77%.
Goods are held in stock in a
range of 62 dd.
The difference between the sales
volume and the resources used to realize it is about 1,27.
The employees costs represent
the 7,90% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity
shows periods of crisis.
The area is statistically
considered lowly risky.
In the region 18.860 protested subjects
are found; in the province they count to 1.231.
The insolvency index for the
region is 0,46, , while for the province it is 0,31.
Total Bankrupt companies in the
province : 1.624.
Total Bankrupt companies in the
region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.49 |
|
|
1 |
Rs. 99.43 |
|
Euro |
1 |
Rs. 69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.