MIRA INFORM REPORT
|
Report No. : |
324691 |
|
Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
COSTRUZIONI AERONAUTICHE TECNAM S.R.L. |
|
|
|
|
Registered Office : |
Via Tasso, 478 80127 – Napoli (NA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1989 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of air and spacecraft and related machinery |
|
|
|
|
No. of Employees : |
From 91 to 110 |
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 : |
Unknown |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Italy |
A2 |
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 |
Euroanalysis
Full
As for Your mandate, we report on :
Costruzioni Aeronautiche Tecnam S.r.l.
Via Tasso, 478
80127 – Napoli
(NA) -IT-
Summary
|
Fiscal Code |
: |
05799360630 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
02/08/1990 |
|
Number of Employees |
: |
from 91 to 110 |
Activity
Manufacture of air and spacecraft and related machinery n.e.c.
Legal
Data
Legal Form : Limited liability company
Fiscal Code : 05799360630
Municipal Licence : 616 of since 02/08/1990
Municipal Licence : 616 of since 02/08/1990
Foreign Trade Reg. no. : NA038078 since 27/09/2002
Chamber of Commerce no. : 171485 of Caserta
Chamber of Commerce no. : 459077 of Napoli since 17/04/1989
Firms' Register : NA049-1989-2206 of Napoli
V.A.T. Code : 05799360630
|
Foundation date |
: 01/01/1989 |
|
|
Establishment date |
: 22/02/1989 |
|
|
Start of Activities |
: 02/08/1990 |
|
|
Legal duration |
: 31/12/2090 |
|
|
Nominal Capital |
: 3.956.000 |
|
|
Subscribed Capital |
: 1.106.000 |
|
|
Paid up Capital |
: 1.106.000 |
|
Legal mail : |
C.A.TECNAM@PEC.IT |
|
Legal mail : |
C.A.TECNAM@PEC.IT |
Members
|
Fogliano |
Amedeo |
|
Born in Napoli |
(NA) |
on 15/09/1953 |
- Fiscal Code : FGLMDA53P15F839T |
|
Residence: |
Tasso |
, 91 |
- 80100 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
16/03/2006 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Pascale Langer |
Luigi |
|
Born in Napoli |
(NA) |
on 01/11/1923 |
- Fiscal Code : PSCLGU23S01F839K |
|
Residence: |
Palmieri |
, 46 |
- 80100 |
Faicchio |
(BN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
17/12/2004 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Pascale Langer |
Paolo |
|
Born |
on 02/10/1960 |
- Fiscal Code : PSCPLA60R02F839R |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
Prejudicial Events found with cancellations* |
Legal Mortgage -
04/05/2007. - 3.126 Euro. Event writing-off
|
EQUITALIA SUD SPA DIREZIONE
REGIONALE CA |
|
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.
|
Pascale Langer |
Luigi |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Aeroporto Oreste Salomone - Societa' Consortile A Responsabilita' L |
Capua (CE) - IT - |
03418290619 |
Director |
Withdrawn |
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 |
|
Pascale Langer Luigi |
Faicchio - IT - |
PSCLGU23S01F839K |
110.600 .Eur |
10,00 |
|
Pascale Langer Paolo |
PSCPLA60R02F839R |
442.400 .Eur |
40,00 |
|
|
Pascale Langer Alessio |
PSCLSS52B29F839X |
147.466 .Eur |
13,33 |
|
|
Pascale Langer Gabriella |
PSCGRL58A48F839O |
147.466 .Eur |
13,33 |
|
|
Pascale Langer Fiorella |
PSCFLL54M56F839T |
147.466 .Eur |
13,33 |
|
|
Blanco Sanchez Gloria Maria |
BLNGRM65S60Z614Q |
55.300 .Eur |
5,00 |
|
|
Pascale Langer Alessio |
PSCLSS99D14F839G |
55.300 .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 |
|
Confidi Regione Campania Societa' Consor tile Per Azioni |
Napoli - IT - |
80061860633 |
250 .Eur |
Active |
|||
|
Societa' Aerospaziale Mediterranea Socie teamp;#192; Consortile A R.
L. |
Napoli - IT - |
07297360633 |
11.084 .Eur |
12,23 |
Active |
||
|
Aeroporto Oreste Salomone - Societa' Con sortile A Responsabilita' L |
Capua - IT - |
03418290619 |
3.000 .Eur |
10,00 |
Active |
||
|
Distretto Tecnologico Aerospaziale Della Campania S.c.a R.l. |
Capua - IT - |
03807450618 |
9.545 .Eur |
1,93 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Tasso |
, 478 |
- 80100 |
- Napoli |
(NA) |
- IT - |
|
PHONE |
: 0817583210 |
|
FAX |
: 0817584528 |
|
Website |
: WWW.TECNAM.COM |
|
Legal mail |
: C.A.TECNAM@PEC.IT |
|
- |
Branch |
(Factory) |
since 02/08/1990 |
|
I Traversa G. Pascoli |
- 80026 |
- Casoria |
(NA) |
- IT - |
|
PHONE |
: 0823622899 |
|
Legal mail |
: C.A.TECNAM@PEC.IT |
|
- |
Branch |
(Warehouse) |
since 14/10/1997 |
|
P.pagliuca |
, 422 |
- 81030 |
- Castel Volturno |
(CE) |
- IT - |
|
- |
Branch |
(Factory) |
since 02/04/2004 |
|
Maiorise |
- 81043 |
- Capua |
(CE) |
- IT - |
|
Employees |
: 94 |
|
Fittings and Equipment for a value of 740.000 |
Eur |
|
Stocks for a value of 5.480.000 |
Eur |
The firm has a direct commercial organization
The company 's mainly customers are companies.
The firm operates abroad as importer / exporter..
Export represents from 20% to 50% of the global turnover.
Usually the terms of sale are within 90-120 days.
Subject collects its own credits by bank transfer.
Main used payment modalities are by cash orders and bank transfers.
Traded
Brands / Suppliers
|
- GARMIN (EUROPE) LIMITED |
|
- MARC-INGEGNO SAS |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCO DI NAPOLI S.P.A. |
CASALNUOVO CENTRO MERIDIANA |
VIA NAPOLI, 125 |
80013 |
Casalnuovo di Napoli |
1010 |
39812 |
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.462.278 |
|
Profit (Loss) for the period |
418.372 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.099.653 |
|
Profit (Loss) for the period |
455.191 |
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.886.925 |
|
Profit (Loss) for the period |
271.679 |
|
Complete balance-sheet for the year |
al 31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.192.938 |
|
Profit (Loss) for the period |
393.750 |
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 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value
Type |
as
at 31/12/2012 |
as
at 31/12/2011 |
as
at 31/12/2010 |
Sector
Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
1,00 |
0,19 |
0,20 |
0,27 |
|
Elasticity Ratio |
Units |
n.c. |
0,78 |
0,78 |
0,71 |
|
Availability of stock |
Units |
n.c. |
0,31 |
0,26 |
0,21 |
|
Total Liquidity Ratio |
Units |
n.c. |
0,47 |
0,52 |
0,43 |
|
Quick Ratio |
Units |
n.c. |
0,03 |
0,07 |
0,01 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
4,03 |
4,71 |
3,84 |
|
Self Financing Ratio |
Units |
1,00 |
0,15 |
0,14 |
0,18 |
|
Capital protection Ratio |
Units |
1,00 |
0,69 |
0,75 |
0,57 |
|
Liabilities consolidation quotient |
Units |
n.c. |
0,34 |
0,18 |
0,17 |
|
Financing |
Units |
n.c. |
5,30 |
5,78 |
5,65 |
|
Permanent Indebtedness Ratio |
Units |
1,00 |
0,36 |
0,27 |
0,25 |
|
M/L term Debts Ratio |
Units |
n.c. |
0,21 |
0,13 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
1,09 |
0,22 |
0,66 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,00 |
1,95 |
1,34 |
1,43 |
|
Current ratio |
Units |
n.c. |
1,24 |
1,08 |
0,95 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
n.c. |
0,75 |
0,72 |
0,53 |
|
Structure's primary quotient |
Units |
1,00 |
0,81 |
0,70 |
0,97 |
|
Treasury's primary quotient |
Units |
n.c. |
0,04 |
0,09 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
100,00 |
665,37 |
714,08 |
620,16 |
|
Current Capital ( net ) |
Value |
2.650.778 |
971.718 |
82.657 |
|
|
RETURN |
|||||
|
Return on Sales |
% |
n.c. |
3,83 |
3,59 |
4,08 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,00 |
15,75 |
18,55 |
2,68 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
0,00 |
35,85 |
38,01 |
10,84 |
|
Return on Investment ( R.O.I. ) |
% |
0,00 |
7,31 |
6,18 |
3,04 |
|
Return/ Sales |
% |
n.c. |
5,28 |
4,31 |
3,65 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
32,38 |
42,05 |
22,85 |
|
Cash Flow |
Value |
937.199 |
901.771 |
105.513 |
|
|
Operating Profit |
Value |
1.292.006 |
1.082.505 |
149.549 |
|
|
Gross Operating Margin |
Value |
1.810.833 |
1.532.063 |
275.325 |
|
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
93,79 |
89,76 |
78,79 |
|
Debts to suppliers average term |
Days |
n.c. |
130,70 |
132,94 |
131,05 |
|
Average stock waiting period |
Days |
n.c. |
80,63 |
65,50 |
96,76 |
|
Rate of capital employed return ( Turnover ) |
Units |
n.c. |
1,38 |
1,43 |
0,67 |
|
Rate of stock return |
Units |
n.c. |
4,47 |
5,50 |
2,64 |
|
Labour cost incidence |
% |
n.c. |
21,17 |
17,50 |
18,80 |
|
Net financial revenues/ charges incidence |
% |
n.c. |
-1,15 |
-0,42 |
-1,50 |
|
Labour cost on purchasing expenses |
% |
n.c. |
21,56 |
17,97 |
15,00 |
|
Short-term financing charges |
% |
n.c. |
2,43 |
1,51 |
2,11 |
|
Capital on hand |
% |
n.c. |
72,25 |
69,82 |
143,31 |
|
Sales pro employee |
Value |
265.894 |
285.223 |
178.661 |
|
|
Labour cost pro employee |
Value |
56.302 |
49.925 |
29.450 |
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 51 significant companies.
The companies cash their credits on an average of 79 dd.
The average duration of suppliers debts is about 131 dd.
The sector's profitability is on an average of 4,08%.
The labour cost affects the turnover in the measure of 18,80%.
Goods are held in stock in a range of 97 dd.
The difference between the sales volume and the resources used to
realize it is about 0,67.
The employees costs represent the 15,00% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered remarkably risky.
In the region 80.616 protested subjects are found; in the province they
count to 41.815.
The insolvency index for the region is 1,40, , while for the province it
is 1,36.
Total Bankrupt companies in the province : 18.217.
Total Bankrupt companies in the region : 28.514.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SHG |
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.