MIRA
INFORM REPORT
|
Report No. : |
334984 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
METCO S.P.A. |
|
|
|
|
Registered Office : |
Via Bernardino Telesio, 2, 20145 – Milano
(MI) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.03.2001 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Engaged as Wholesaler of metalliferous minerals, Ferrous Metals and Semi-Finished Products [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
|
|
|
|
No of Employees : |
04 |
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 |
Company name & address
Metco S.p.a.
Via Bernardino Telesio, 2
20145 - Milano (MI) -IT-
Summary
|
Fiscal Code |
: |
01207670991 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
10/04/2001 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
04 |
Activity
Engaged as Wholesaler of metalliferous minerals, Ferrous Metals and Semi-Finished Products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 01207670991 |
|
Foreign Trade Reg. no. : 030799 of Genova
since 13/01/2010 |
|
Chamber of Commerce no. : 242318 of
Alessandria |
|
Chamber of Commerce no. : 392004 of Genova |
|
Chamber of Commerce no. : 434328 of Genova |
|
Chamber of Commerce no. : 1791878 of Milano
since 03/01/2006 |
|
Firms' Register : MI-2006-1708 of Milano
since 03/01/2006 |
|
Establishment date |
: 12/03/2001 |
|
|
Start of Activities |
: 10/04/2001 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 600.000 |
|
|
Subscribed Capital |
: 600.000 |
|
|
Paid up Capital |
: 600.000 |
|
Members
|
|
Bagliano |
Lorenzo |
|
|
|
Born in Genova |
(GE) |
on 01/09/1967 |
- Fiscal Code : BGLLNZ67P01D969M |
|
|
|
Residence: |
|
Albaro |
, 9/2 |
- 16145 |
Genova |
(GE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/04/2012 |
|
|
|
Director |
28/04/2012 |
|
|
|
|
Prejudicial
Events found with cancellations* |
Legal
Mortgage - 14/09/2007. - 9.728 Euro. Event writing-off
|
|
EQUITALIA POLIS S. P. A. |
|
|
No Protests
registered |
|
|
Solari |
Luca |
|
|
|
Born in Genova |
(GE) |
on 24/02/1966 |
- Fiscal Code : SLRLCU66B24D969U |
|
|
|
Residence: |
|
Del Chiapparo |
, 2C UNI |
- 16100 |
Genova |
(GE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2012 |
|
|
|
|
Resca |
Stefano |
|
|
|
Born in Savona |
(SV) |
on 22/06/1975 |
- Fiscal Code : RSCSFN75H22I480R |
|
|
|
Residence: |
|
Paolo Assereto |
, 8/3 |
- 17100 |
Savona |
(SV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/01/2013 |
|
|
|
|
Barbasio
Giovanna |
|
|
|
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests registered |
*Concerns also partially erased events.
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Bagliano |
Lorenzo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Giordo S.r.l. |
Genova (GE) - IT - |
03160950105 |
Director |
Active |
Registered |
|
Giordo S.r.l. |
Genova (GE) - IT - |
03160950105 |
Person in charge |
Active |
Registered |
|
Giordo S.r.l. |
Genova (GE) - IT - |
03160950105 |
Board Chairman |
Active |
Registered |
|
L E M Group Srl |
Tortona (AL) - IT - |
01518810096 |
Sole Director |
Active |
Registered |
|
Global Renewables Italia Srl |
Milano (MI) - IT - |
08078300962 |
Director |
Active |
Registered |
|
Global Renewables Italia Srl |
Milano (MI) - IT - |
08078300962 |
Board Chairman |
Active |
Registered |
|
Smokera Srl |
Assago (MI) - IT - |
08685080965 |
Director |
Active |
Registered |
|
Smokera Srl |
Assago (MI) - IT - |
08685080965 |
Board Chairman |
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.
Capital Shareholders
Shareholders' list
as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Solari Ernesto |
Genova - IT - |
SLRRST35H02D969I |
60.000 .Eur |
10,00 |
|
Bagliano Lorenzo |
Genova - IT - |
BGLLNZ67P01D969M |
60.000 .Eur |
10,00 |
|
Solari Luca |
Genova - IT - |
SLRLCU66B24D969U |
30.000 .Eur |
5,00 |
|
Barbasio Giovanna |
|
BRBGNN68B55D969S |
420.000 .Eur |
70,00 |
|
Solari Matteo |
|
SLRMTT69S03D969O |
30.000 .Eur |
5,00 |
Direct Participations
The Company under review has participations in
the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Giordo S.r.l. |
Genova - IT - |
03160950105 |
39.200 .Eur |
49,00 |
|
|
Active |
|
Giordo Trasporti S.r.l |
Genova - IT - |
01746200995 |
2.000 .Eur |
20,00 |
|
|
Active |
|
Ca' D'bera Societa' Agricola S.r.l. |
Asti - IT - |
01486210055 |
4.900 .Eur |
49,00 |
|
|
Active |
|
Carboleghe S.r.l. |
|
06959290963 |
45.000 .Eur |
45,00 |
|
|
Active |
|
L E M Group Srl |
Tortona - IT - |
01518810096 |
13.500 .Eur |
45,00 |
|
|
Active |
|
Smokera Srl |
Assago - IT - |
08685080965 |
40.000 .Eur |
40,00 |
|
|
Active |
|
Global Renewables Italia Srl |
Milano - IT - |
08078300962 |
10.000 .Eur |
100,00 |
|
|
Active |
|
Bianca 2009 S.r.l. |
|
06699200967 |
2.800 .Eur |
28,00 |
|
|
Active |
|
Metco Metals S.r.l. |
Milano - IT - |
07504400966 |
3.500 .Eur |
35,00 |
|
|
Active |
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and
operative seat |
|
|
|
|
|
|
|
Bernardino Telesio |
, 2 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
|
|
|
PHONE |
: 0105959311 |
|
|
|
|
FAX |
: 0105760972 |
|
- |
Branch |
(Warehouse) |
since 23/12/2008 |
|
|
|
|
|
|
Serravalle |
, 65 R |
- 15100 |
- Alessandria |
(AL) |
- IT - |
|
- |
Branch |
(office) |
since 10/04/2001 |
|
|
|
|
|
|
San Matteo |
, 2/48 |
- 16100 |
- Genova |
(GE) |
- IT - |
|
|
|
|
Employees |
: 4 |
|
Fittings and Equipment for a value of
93.000 |
Eur |
|
Stocks for a value of 7.470.000 |
Eur |
|
|
Historical Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Bagliano |
Lorenzo |
|
|
|
Born in Genova |
(GE) |
on 01/09/1967 |
- Fiscal Code : BGLLNZ67P01D969M |
|
|
|
Residence: |
|
Albaro |
, 9/2 |
- 16145 |
Genova |
(GE) |
- IT - |
|
Ex-Postions |
|
Sole Director |
|
|
Barbasio
Giovanna |
|
|
- Fiscal Code : BRBGNN68B55D969S |
|
Ex-Postions |
|
Partner |
|
|
Statuto |
Paolo |
|
|
|
Born in Genova |
(GE) |
on 12/02/1949 |
- Fiscal Code : STTPLA49B12D969J |
|
|
|
Residence: |
|
Brigata Bisagno |
, 14/24 |
- 16129 |
Genova |
(GE) |
- IT - |
|
Ex-Postions |
|
Chairman of the Board of Aud. |
|
|
Bertolini |
Gianfranco |
|
|
|
Born in Genova |
(GE) |
on 27/02/1961 |
- Fiscal Code : BRTGFR61B27D969X |
|
|
|
Residence: |
|
Pisa |
, 11C/4 |
- 16146 |
Genova |
(GE) |
- IT - |
|
Ex-Postions |
|
Permanent Auditor |
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
Subject is active since 2001
The economic-financial analysis is based on
the latest 3 b/s.
Under an economic point of view, profits
were registered during the last years with a r.o.e. of 13,02% in 2013 and
during the last financial year an increase in sales volume was registered
(+29,07% in 2013).
The operating result was positive in the
last financial year (5,78%) falling within the field's average.
The amount of the operating result is equal
to Eur. 1.595.237 with a 36,95% growth.
The G.O.M. amounted to Eur. 1.968.032 with a
42,68% growth.
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 6,94 which is also improving if compared to the
previous year.
Subject can manage an equity capital funds
for an amount of Eur. 2.936.362 , unchanged if compared to 2012.
During the last financial year total debts
volume reached Eur. 24.538.462 (Eur. 3.247.307 were m/l term ones) with no
important change.
The recourse to bank credit is high compared
to net worth, debts to suppliers are on the other hand limited which is also
lower than the sector average.
The management determines a good range of
liquidity.
As far as the collection of credit goes, the
average is high (107,03 days). but in line with the sector.
2013 financial year closed with a cash flow
of Eur. 705.126
Labour cost expenses amount to Eur. 430.269
, representing 0,95% on the total of production costs. , whereas the incidence
on sales revenues is of 0,92%.
Financial charges have a high incidence
(-1,58%) on turnover figures.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
46.694.199 |
|
Profit (Loss) for the period |
382.331 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.177.332 |
|
Profit (Loss) for the period |
48.251 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
70.646.909 |
|
Profit (Loss) for the period |
441.996 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
54.048.827 |
|
Profit (Loss) for the period |
654.062 |
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 |
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 |
0,14 |
0,15 |
0,15 |
0,11 |
|
Elasticity Ratio |
Units |
0,86 |
0,85 |
0,84 |
0,87 |
|
Availability of stock |
Units |
0,27 |
0,36 |
0,33 |
0,22 |
|
Total Liquidity Ratio |
Units |
0,58 |
0,49 |
0,51 |
0,56 |
|
Quick Ratio |
Units |
0,03 |
0,03 |
0,04 |
0,02 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
6,94 |
6,47 |
6,57 |
3,81 |
|
Self Financing Ratio |
Units |
0,11 |
0,11 |
0,12 |
0,17 |
|
Capital protection Ratio |
Units |
0,67 |
0,75 |
0,58 |
0,65 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,22 |
0,10 |
0,12 |
|
Financing |
Units |
8,36 |
8,24 |
7,57 |
4,72 |
|
Permanent Indebtedness Ratio |
Units |
0,23 |
0,27 |
0,20 |
0,30 |
|
M/L term Debts Ratio |
Units |
0,12 |
0,16 |
0,08 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
6,55 |
6,29 |
5,93 |
1,28 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
1,56 |
1,83 |
1,27 |
2,06 |
|
Current ratio |
Units |
1,11 |
1,17 |
1,06 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,76 |
0,68 |
0,64 |
0,84 |
|
Structure's primary quotient |
Units |
0,74 |
0,74 |
0,75 |
1,28 |
|
Treasury's primary quotient |
Units |
0,04 |
0,04 |
0,05 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
940,04 |
927,22 |
864,71 |
591,61 |
|
Current Capital ( net ) |
Value |
2.310.896 |
2.869.396 |
1.000.377 |
219.071 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
1,51 |
0,61 |
0,82 |
2,22 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
13,02 |
1,89 |
17,64 |
6,27 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
28,65 |
14,30 |
35,55 |
15,95 |
|
Return on Investment ( R.O.I. ) |
% |
5,78 |
4,92 |
6,22 |
4,19 |
|
Return/ Sales |
% |
3,42 |
3,22 |
1,91 |
3,42 |
|
Extra Management revenues/charges incid. |
% |
23,97 |
4,14 |
32,78 |
29,26 |
|
Cash Flow |
Value |
705.126 |
219.548 |
577.648 |
61.669 |
|
Operating Profit |
Value |
1.595.237 |
1.164.775 |
1.348.500 |
95.558 |
|
Gross Operating Margin |
Value |
1.968.032 |
1.379.265 |
1.530.312 |
144.934 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
107,03 |
89,56 |
45,20 |
120,94 |
|
Debts to suppliers average term |
Days |
30,76 |
41,13 |
15,86 |
120,04 |
|
Average stock waiting period |
Days |
57,57 |
84,22 |
36,89 |
61,92 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,69 |
1,53 |
3,26 |
1,27 |
|
Rate of stock return |
Units |
6,25 |
4,27 |
9,76 |
5,74 |
|
Labour cost incidence |
% |
0,92 |
1,37 |
0,67 |
7,77 |
|
Net financial revenues/ charges incidence |
% |
-1,58 |
-2,59 |
-0,79 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
0,95 |
1,36 |
0,68 |
7,90 |
|
Short-term financing charges |
% |
3,01 |
4,52 |
3,08 |
2,67 |
|
Capital on hand |
% |
59,11 |
65,46 |
30,67 |
78,39 |
|
Sales pro employee |
Value |
3.591.861 |
2.411.822 |
5.046.207 |
437.713 |
|
Labour cost pro employee |
Value |
33.097 |
32.946 |
33.578 |
33.928 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
3.839.216Monthly family expenses 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
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.63.89 |
|
UK Pound |
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.63 |
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.