MIRA INFORM REPORT
|
Report No. : |
326041 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAFER - S.P.A. |
|
|
|
|
Registered Office : |
Via Lago Di Garda, 98 36015 – Schio (VI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
31.12.1980 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of machinery for textile, apparel and leather industries (including spare parts and accessories) |
|
|
|
|
No. of Employees : |
From 91 to 110 |
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 – 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 |
Company
name and address
|
LAFER - S.P.A. |
|
Via |
Lago Di Garda, |
98 |
|
36015 |
- Schio |
(VI) |
-IT- |
Summary
|
Fiscal Code |
: |
01279170243 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
31/12/1980 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
35.000.000/50.000.000 |
|
Number of Employees |
: |
from 91 to 110 |
Activity
Manufacture of machinery for textile,
apparel and leather industries (including spare parts and accessories)
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 01279170243 |
|
Foreign Trade Reg. no. : VI008404 since
06/12/1991 |
|
Foreign Trade Reg. no. : 8404 of Vicenza
since 06/12/1991 |
|
Chamber of Commerce no. : 169519 of Biella |
|
Chamber of Commerce no. : 157528 of
Vicenza since 08/01/1981 |
|
Firms' Register : VI116-11911 of Vicenza
since 19/02/1996 |
|
V.A.T. Code : 01279170243 |
|
Foundation date |
: 31/12/1980 |
|
Establishment date |
: 31/12/1980 |
|
Start of Activities |
: 31/12/1980 |
|
Legal duration |
: 31/12/2050 |
|
Nominal Capital |
: 286.000 |
|
Subscribed Capital |
: 286.000 |
|
Paid up Capital |
: 286.000 |
|
Legal mail : |
LAFERSPA@CERT.ASSIND.VI.IT |
Members
|
|
Scortegagna |
Bruno |
|
|
Born in Schio |
(VI) |
on 17/01/1939 |
- Fiscal Code : SCRBRN39A17I531Z |
|
|
Residence: |
Fornaci |
, 46 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
||
|
Board Chairman |
28/06/2013 |
||
|
Managing Director |
28/06/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Scortegagna |
Daniela |
|
|
Born in Malo |
(VI) |
on 24/10/1969 |
- Fiscal Code : SCRDNL69R64E864L |
|
|
Residence: |
Dei Priuli |
, 22 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
03/09/1996 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Costeniero |
Valter |
|
|
Born in Malo |
(VI) |
on 22/11/1965 |
- Fiscal Code : CSTVTR65S22E864K |
|
|
Residence: |
Pasubio |
, 72 |
- 36034 |
Malo |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
03/09/1996 |
||
|
Director |
28/06/2013 |
||
|
Managing Director |
28/06/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Marchioretto |
Ruggero Pietro |
|
|
Born in Schio |
(VI) |
on 14/10/1958 |
- Fiscal Code : MRCRGR58R14I531W |
|
|
Residence: |
Dei Priuli |
, 22 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
17/07/2007 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Broccardo |
Andrea |
|
|
Born in Schio |
(VI) |
on 26/09/1974 |
- Fiscal Code : BRCNDR74P26I531U |
|
|
Residence: |
Trentin Vittorio |
, 40 |
- 36036 |
Torrebelvicino |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
27/03/2014 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Lafin Srl |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
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.
|
|
Scortegagna |
Bruno |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Lafin Srl |
Schio (VI) - IT - |
01738720240 |
Procurator |
Active |
Registered |
|
|
Costeniero |
Valter |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Lafin Srl |
Schio (VI) - IT - |
01738720240 |
Sole Director |
Active |
Registered |
|
TEXEN S.R.L. |
Schio (VI) - IT - |
02635160241 |
Director |
Withdrawn |
Registered |
|
AMT S.R.L. |
Thiene (VI) - IT - |
02565060247 |
Sole Director |
Withdrawn |
Registered |
|
Lafer Packaging S.r.l. |
Schio (VI) - IT - |
03021200245 |
Sole Director |
Active |
Registered |
|
LAFER RESEARCH S.R.L. |
Schio (VI) - IT - |
03021180249 |
Sole Director |
Withdrawn |
Registered |
|
Servizi Aziendali S.r.l. |
Schio (VI) - IT - |
03061130245 |
Director |
Active |
Registered |
|
Servizi Aziendali S.r.l. |
Schio (VI) - IT - |
03061130245 |
Board Chairman |
Active |
Registered |
|
Tgs Srl |
Schio (VI) - IT - |
02757030248 |
Managing
Director |
Active |
Registered |
|
Tgs Srl |
Schio (VI) - IT - |
02757030248 |
Director |
Active |
Registered |
The indication "REGISTERED" as
Firm Status could refer to Firms in Liquidation, Active, Inactive
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 |
|
Scortegagna Bruno |
Schio - IT - |
SCRBRN39A17I531Z |
1.040 .Eur |
0,36 |
|
DE MARCHI MARIA TERESA |
Schio - IT - |
DMRMTR40A64E864D |
520 .Eur |
0,18 |
|
Lafin Srl |
01738720240 |
284.440 .Eur |
99,45 |
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 |
|
Deyob Srl |
03954470245 |
4.000 .Eur |
40,00 |
Active |
Firm's
location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
since 03/06/1996 |
|
Lago Di Garda |
, 98 |
- 36015 |
- Schio |
(VI) |
- IT - |
|
PHONE |
: 0445694301 |
|
PHONE |
: 0445694311 |
|
FAX |
: 0445694312 |
|
Legal mail |
: LAFERSPA@CERT.ASSIND.VI.IT |
|
- |
Branch |
(Warehouse) |
since 03/11/2014 |
|
Lago Di Vico |
, 4 |
- 36015 |
- Schio |
(VI) |
- IT - |
|
Employees |
: 104 |
|
Fittings and Equipment for a value of
750.000 |
Eur |
|
Stocks for a value of 2.000.000 |
Eur |
|
Vehicles for a value of 46.000 |
Eur |
The company sells in Italy and abroad.
The company 's mainly customers are
companies.
The firm operates abroad as exporter..
Export trade is the 70 % of the global
turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- direct orders from foreign companies |
Main sales modalities: issue cheques and
bank transfers.
Company generally pays its suppliers within
30/90 days.
Subject company generally settles its
engagements by issueing of
cheques and cash orders.
Export is mainly towards:
|
- Italy |
Traded
Brands / Suppliers
|
- Interacciai Spa |
|
- Carte Dozio Srl |
Historical
Information and/or Firm's Status
EX-MEMBERS /
EX-POSITIONS:
|
|
Bengelsdorff |
Carl Wilhelm
Andreas |
|
|
Born in HELSINKI |
( ) |
on 23/09/1966 |
- Fiscal Code : BNGCLW66P23Z109F |
|
Ex-Postions |
|
Procurator |
|
|
Lafin Srl |
|
- Fiscal Code : 01738720240 |
|
Ex-Postions |
|
Partner |
|
Partner |
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 |
|
BANCA POPOLARE DI VICENZA |
5728 |
0 |
||||
|
BANCA POPOLARE DI VICENZA SCPA |
AG.1 |
VIA VENETO ANG. VIA BRAGLIO |
36015 |
Schio |
5728 |
60751 |
|
INTESA SANPAOLO SPA |
3069 |
0 |
||||
|
B.CA NAZIONALE DEL LAVORO SPA |
SCHIO |
PIAZZA DELLO STATUTO |
36015 |
Schio (VI) |
1005 |
60750 |
Financial
and Economical Analysis
Subject is active since 1980
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 achieved profits
(r.o.e. 21,88% on 2013) with a good increase in turnover (+25,95% in 2013
compared to 2012 and +19,62% in 2012 compared to 2011).
The operating result was positive in the
last financial year (6,01%) falling within the field's average.
The amount of the operating result is equal
to Eur. 1.605.045 ,showing stability in respect to the value of 2012.
During the latest financial year the gross
operating margin amounted to Eur. 1.983.171 on the same levels as the previous
financial year.
Company's financial status is balanced since
indebtedness is not high (2,64) even though on the increase if compared to
2012.
It's shareholders’ funds amount to Eur.
3.759.620 , unchanged if compared to 2012.
During the last financial year total debts
volume reached Eur. 21.766.913 (Eur. 2.960.421 were m/l term ones) on the same
levels as the year before.
Financial indebdtedness is under control
whereas debts to suppliers are frequent even in comparison with the sector's.
Neverthless available funds are good.
On average trade credits are collected in
70,44 days. , that compared to the sector's average is shorter.
2013 financial year closed with a cash flow
of Eur. 1.200.659
Subordinate employment cost is of Eur.
6.260.304, i.e. 17,58% on total production costs. and a 17,08% incidence on
sales volumes.
The financial management has a limited
economic impact, equal to -0,36% on the sales.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.651.850 |
|
Profit (Loss) for the period |
822.533 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.098.069 |
|
Profit (Loss) for the period |
824.529 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.323.838 |
|
Profit (Loss) for the period |
105.429 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
31.606.234 |
|
Profit (Loss) for the period |
545.513 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.253.046 |
|
Profit (Loss) for the period |
673.585 |
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 |
0,27 |
0,33 |
0,38 |
0,18 |
|
Elasticity Ratio |
Units |
0,72 |
0,67 |
0,61 |
0,80 |
|
Availability of stock |
Units |
0,07 |
0,08 |
0,13 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,65 |
0,60 |
0,48 |
0,48 |
|
Quick Ratio |
Units |
0,33 |
0,35 |
0,17 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,64 |
1,78 |
3,82 |
3,25 |
|
Self-Financing Ratio |
Units |
0,14 |
0,15 |
0,13 |
0,19 |
|
Capital protection Ratio |
Units |
0,71 |
0,68 |
0,85 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,19 |
0,34 |
0,26 |
0,19 |
|
Financing |
Units |
5,79 |
5,34 |
6,22 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,27 |
0,36 |
0,30 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,21 |
0,17 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,62 |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,00 |
1,10 |
0,80 |
1,75 |
|
Current ratio |
Units |
1,03 |
1,09 |
0,91 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,92 |
0,96 |
0,72 |
0,81 |
|
Structure's primary quotient |
Units |
0,52 |
0,46 |
0,35 |
1,03 |
|
Treasury's primary quotient |
Units |
0,47 |
0,57 |
0,25 |
0,06 |
|
Rate of indebtedness (Leverage) |
% |
710,77 |
668,34 |
764,86 |
516,42 |
|
Current Capital ( net ) |
Value |
557.559 |
1.251.199 |
-1.251.341 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,28 |
4,22 |
2,13 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
21,88 |
23,50 |
3,93 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
39,15 |
39,24 |
16,65 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
6,01 |
5,94 |
3,17 |
4,16 |
|
Return/ Sales |
% |
4,38 |
4,79 |
2,68 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
51,25 |
59,16 |
16,18 |
28,57 |
|
Cash Flow |
Value |
1.200.659 |
1.227.876 |
517.134 |
122.482 |
|
Operating Profit |
Value |
1.605.045 |
1.393.830 |
651.406 |
144.752 |
|
Gross Operating Margin |
Value |
1.983.171 |
1.797.177 |
1.063.111 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
70,44 |
52,67 |
55,90 |
111,85 |
|
Debts to suppliers average term |
Days |
184,29 |
180,07 |
174,82 |
128,30 |
|
Average stock waiting period |
Days |
19,62 |
21,79 |
38,21 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,37 |
1,24 |
1,18 |
1,08 |
|
Rate of stock return |
Units |
18,35 |
16,52 |
9,42 |
4,45 |
|
Labour cost incidence |
% |
17,08 |
17,15 |
19,36 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-0,36 |
-0,66 |
-0,85 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
17,58 |
17,92 |
19,00 |
19,02 |
|
Short-term financing charges |
% |
1,08 |
1,45 |
1,68 |
2,68 |
|
Capital on hand |
% |
72,91 |
80,60 |
84,42 |
91,91 |
|
Sales pro employee |
Value |
187.958 |
187.729 |
165.468 |
198.432 |
|
Labour cost pro employee |
Value |
32.104 |
32.199 |
32.035 |
35.779 |
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 1.206
significant companies.
The companies cash their credits on an average
of 112 dd.
The average duration of suppliers debts is
about 128 dd.
The sector's profitability is on an average
of 3,35%.
The labour cost affects the turnover in the
measure of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and
the resources used to realize it is about 1,08.
The employees costs represent the 19,02% 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 13.782 protested subjects are
found; in the province they count to 2.234.
The insolvency index for the region is 0,30,
, while for the province it is 0,27.
Total Bankrupt companies in the province :
2.546.
Total Bankrupt companies in the region :
16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.