MIRA INFORM REPORT
|
Report No. : |
325905 |
|
Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
L.B. - OFFICINE MECCANICHE - S.P.A. |
|
|
|
|
Registered Office : |
Via Pedemontana, 166 41042 - Fiorano Modenese (MO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
21.02.1978 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of machinery and equipment n.e.c. |
|
|
|
|
No. of Employee : |
From 150 to 175 |
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 : |
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 – 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
|
L.B. - OFFICINE MECCANICHE - S.P.A. |
|
Via Pedemontana, 166 41042 - Fiorano Modenese (MO) -IT- |
Summary
|
Fiscal Code |
: |
00218570364 |
|
Legal Form |
: |
Joint stock company |
|
Establishment Date |
: |
21/02/1978 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 150 to 175 |
Activity
MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C.
Legal
Data
Legal Form : Joint stock company
|
Register of Handcraft firms : 50207 of Modena |
|
Fiscal Code : 00218570364 |
|
Foreign Trade Reg. no. : MO006930 since 08/01/1992 |
|
Chamber of Commerce no. : 155645 of Modena since
27/03/1973 |
|
Firms' Register : MO023-10638 of Modena since 19/02/1996 |
|
V.A.T. Code : 00218570364 |
|
Establishment date |
: 21/02/1978 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.080.000 |
|
|
Subscribed Capital |
: 2.080.000 |
|
|
Paid up Capital |
: 2.080.000 |
|
Legal mail : |
LB-TECHNOLOGY@PEC.IT |
Members
|
|
Bigi |
Ermes |
|
|
Born in Modena |
(MO) |
on 10/12/1946 |
- Fiscal Code : BGIRMS46T10F257L |
|
|
Residence: |
Del Castello |
, 19 |
- 41042 |
Fiorano Modenese |
(MO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
29/04/2013 |
||
|
Board Chairman |
11/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bigi |
Matteo |
|
|
Born in Sassuolo |
(MO) |
on 06/11/1972 |
- Fiscal Code : BGIMTT72S06I462O |
|
|
Residence: |
Castello |
, 11 |
- 41042 |
Fiorano Modenese |
(MO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
29/04/2013 |
||
|
Managing Director |
11/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Benedetti |
Emilio |
|
|
Born in Sassuolo |
(MO) |
on 01/06/1970 |
- Fiscal Code : BNDMLE70H01I462Y |
|
|
Residence: |
Indipendenza |
, 151 |
- 41049 |
Sassuolo |
(MO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
29/04/2013 |
||
|
Assistant board Chairman |
11/05/2013 |
||
|
Managing Director |
11/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Ligabue |
Edoardo |
|
|
Born in Sassuolo |
(MO) |
on 24/08/1984 |
- Fiscal Code : LGBDRD84M24I462A |
|
|
Residence: |
Indipendenza |
, 151 |
- 41049 |
Sassuolo |
(MO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
29/04/2013 |
|
|
Fimec 1 S.r.l. |
|
|
: |
Tien An Men |
, 21 |
- 41049 |
Sassuolo |
(MO) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Fimec 2 S.r.l. |
|
|
: |
Fabbrica Rubbiani |
, 43 |
- 41049 |
Sassuolo |
(MO) |
- IT - |
|
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.
|
|
Bigi |
Ermes |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Sermat - Societa' A Responsabilita' Limitata Abbreviabile
In Sermat S.r.l. |
Sassuolo (MO) - IT - |
00920950359 |
Director |
Active |
Registered |
|
Fimec - S.r.l. |
Fiorano Modenese (MO) - IT - |
01351260367 |
Sole
Director |
Withdrawn |
Registered |
|
Lb Group S.r.l. |
Fiorano Modenese (MO) - IT - |
03164230363 |
Managing
Director |
Withdrawn |
Registered |
|
Lb Group S.r.l. |
Fiorano Modenese (MO) - IT - |
03164230363 |
Director |
Active |
Registered |
|
Lb Group S.r.l. |
Fiorano Modenese (MO) - IT - |
03164230363 |
Board
Chairman |
Withdrawn |
Registered |
|
Fimec 2 S.r.l. |
Sassuolo (MO) - IT - |
03488790365 |
Sole
Director |
Active |
Registered |
|
|
Bigi |
Matteo |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Sitec S.r.l. |
Fiorano Modenese (MO) - IT - |
01756800353 |
Director |
Active |
Registered |
|
Lb Group S.r.l. |
Fiorano Modenese (MO) - IT - |
03164230363 |
Director |
Active |
Registered |
|
Lb Group S.r.l. |
Fiorano Modenese (MO) - IT - |
03164230363 |
Assistant
board Chairman |
Active |
Registered |
|
|
Benedetti |
Emilio |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Sermat - Societa' A Responsabilita' Limitata Abbreviabile
In Sermat S.r.l. |
Sassuolo (MO) - IT - |
00920950359 |
Director |
Active |
Registered |
|
Co.ge.da. S.r.l. |
Sassuolo (MO) - IT - |
02240850368 |
Director |
Active |
Registered |
|
Sitec S.r.l. |
Fiorano Modenese (MO) - IT - |
01756800353 |
Director |
Active |
Registered |
|
Lb Group S.r.l. |
Fiorano Modenese (MO) - IT - |
03164230363 |
Director |
Active |
Registered |
|
Bl S.n.c. Di Ligabue Serena E C. |
Sassuolo (MO) - IT - |
02989050360 |
Partner |
Active |
Registered |
|
Fimec 1 S.r.l. |
Sassuolo (MO) - IT - |
03488780366 |
Sole
Director |
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 |
|
MUCCI LORIS |
Fiorano Modenese - IT - |
MCCLRS53P05F503P |
41.600
.Eur |
2,00 |
|
Fimec 1 S.r.l. |
Sassuolo - IT - |
03488780366 |
1.019.200
.Eur |
49,00 |
|
Fimec 2 S.r.l. |
Sassuolo - IT - |
03488790365 |
1.019.200
.Eur |
49,00 |
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 |
|
Pedemontana |
, 166 |
- 41042 |
- Fiorano Modenese |
(MO) |
- IT - |
|
PHONE |
: 0536995111 |
|
Legal mail |
: LB-TECHNOLOGY@PEC.IT |
|
Employees |
:
157 |
|
Assistants |
: 4 |
|
Fittings and Equipment for a value of 1.040.000 |
Eur |
|
Stocks for a value of 3.520.000 |
Eur |
|
Work in progress for a value of 1.620.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own vehicles and third
parties ones
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Company generally pays its suppliers within 30/90 days.
The most used payment modality is the bank transfer one.
Export is mainly towards:
|
- Italy |
|
- |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement
Date |
|
De facto company |
General partnership |
21/02/1978 |
|
General partnership |
Joint stock company |
04/02/1983 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorved |
|
|
|
|
Pedemontana |
, 166 |
, 41042 |
, Fiorano Modenese |
(MO) |
- IT - |
|
|
Date |
: |
11/12/1997 |
|
|
The firm absorved |
|
|
|
|
Pedemontana |
, 166 |
, 41042 |
, Fiorano Modenese |
(MO) |
- IT - |
|
|
Date |
: |
19/04/1999 |
|
|
Project of merging by taking over of |
|
|
|
|
, Fiorano Modenese (mo) |
(MO) |
- IT - |
|
|
Fiscal Code: 00179530365 |
|
|
Date |
Merging/splitting-up project: |
27/12/1996 |
|
|
The firm absorbed by merging of |
|
|
|
|
, Fiorano Modenese (mo) |
(MO) |
- IT - |
|
|
Fiscal Code: 00179530365 |
|
|
Date |
: |
11/12/1997 |
|
|
Project of merging by taking over of |
|
|
|
|
Vignola |
, 17 |
, 41053 |
, Maranello |
(MO) |
- IT - |
|
|
Fiscal Code: 02220570366 |
|
|
Date |
Merging/splitting-up project: |
15/09/1998 |
|
|
The firm absorbed by merging of |
|
|
|
|
Vignola |
, 17 |
, 41053 |
, Maranello |
(MO) |
- IT - |
|
|
Fiscal Code: 02220570366 |
|
|
Date |
: |
19/04/1999 |
|
|
Splitting-up project and setting-up of new co |
|
|
Date |
Merging/Splitting-up Project-New Company: |
28/06/2007 |
|
|
Splitting-up and setting-up of a new company |
|
|
|
|
, 41042 |
, Fiorano Modenese |
(MO) |
- IT - |
|
|
Date |
Splitting-up: |
21/11/2007 |
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 1978.
An eco-fin analysis has been made on the base od the b/s fo
the years 2011, 2012 and 2013.
In the economic management , good and bad results followed
on by turns. with a loss in the last financial year. The turnover is falling if
compared with the previous financial year (eamp;FAT1eamp;%).
The operating result is negative.
the operating loss amounts to Eur. -589.969.
The gross operating margin of the latest financial year is
of Eur. 774.718 recording a -23,58% decrease.
Company's financial status is balanced since indebtedness is
not high (1,4) with an improving trend as on the decrease.
Subject can manage an equity capital funds for an amount of
Eur. 10.908.695 , unchanged as opposed to the preceding year.
During the last financial year debts totalled Eur.
15.807.542 (Eur. 328.039 of which were m/l term debts) with no important
change.
Financial indebdtedness is under control whereas debts to
suppliers are frequent and higher than sector's average.
Liquid assets are good.
Due from customers average term is high and equal to 263,24
days. even higher than the average of the specific sector.
During financial year 2013 the cash flow amounted to Eur.
642.844
Labour cost expenses amount to Eur. 5.052.634 , representing
18,58% on the total of production costs. , with a 19,92% incidence on turnover.
No incidence of financial charges as lower than the incomes.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.365.224 |
|
Profit (Loss) for the period |
-353.843 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
28.227.471 |
|
Profit (Loss) for the period |
26.871 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
31.812.330 |
|
Profit (Loss) for the period |
-653.399 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.067.801 |
|
Profit (Loss) for the period |
-2.890.755 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
31.647.977 |
|
Profit (Loss) for the period |
-516.297 |
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 |
0,09 |
0,08 |
0,07 |
0,16 |
|
Elasticity Ratio |
Units |
0,91 |
0,92 |
0,93 |
0,82 |
|
Availability of stock |
Units |
0,12 |
0,12 |
0,22 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,78 |
0,79 |
0,71 |
0,56 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,01 |
0,04 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,40 |
1,41 |
1,91 |
3,10 |
|
Self Financing Ratio |
Units |
0,39 |
0,40 |
0,33 |
0,19 |
|
Capital protection Ratio |
Units |
0,84 |
0,81 |
0,87 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,05 |
0,05 |
0,16 |
|
Financing |
Units |
1,45 |
1,41 |
1,94 |
4,16 |
|
Permanent Indebtedness Ratio |
Units |
0,42 |
0,42 |
0,36 |
0,38 |
|
M/L term Debts Ratio |
Units |
0,03 |
0,03 |
0,03 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,28 |
0,13 |
0,01 |
0,02 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,63 |
5,37 |
5,27 |
1,80 |
|
Current ratio |
Units |
1,65 |
1,64 |
1,45 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,43 |
1,42 |
1,11 |
0,96 |
|
Structure's primary quotient |
Units |
4,27 |
5,01 |
4,84 |
1,18 |
|
Treasury's primary quotient |
Units |
0,01 |
0,00 |
0,02 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
258,43 |
252,92 |
302,98 |
534,62 |
|
Current Capital ( net ) |
Value |
10.128.898 |
10.166.395 |
9.897.147 |
881.162 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,53 |
3,95 |
1,11 |
3,66 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-3,24 |
0,24 |
-5,82 |
8,90 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-2,05 |
1,14 |
-5,45 |
19,94 |
|
Return on Investment ( R.O.I. ) |
% |
-2,09 |
-0,58 |
-1,13 |
5,24 |
|
Return/ Sales |
% |
-2,33 |
-0,58 |
-1,21 |
4,57 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
35,24 |
|
Cash Flow |
Value |
642.844 |
1.114.272 |
354.474 |
214.985 |
|
Operating Profit |
Value |
-589.969 |
-165.048 |
-384.410 |
310.321 |
|
Gross Operating Margin |
Value |
774.718 |
1.013.787 |
1.033.463 |
419.513 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
263,24 |
211,95 |
202,45 |
117,11 |
|
Debts to suppliers average term |
Days |
166,48 |
184,34 |
197,56 |
124,74 |
|
Average stock waiting period |
Days |
49,96 |
45,02 |
84,71 |
56,77 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,90 |
0,99 |
0,93 |
1,11 |
|
Rate of stock return |
Units |
7,21 |
8,00 |
4,25 |
6,23 |
|
Labour cost incidence |
% |
19,92 |
17,68 |
15,85 |
17,11 |
|
Net financial revenues/ charges incidence |
% |
1,45 |
0,27 |
-0,17 |
-0,80 |
|
Labour cost on purchasing expenses |
% |
18,58 |
19,15 |
14,45 |
17,78 |
|
Short-term financing charges |
% |
n.c. |
0,48 |
0,50 |
2,20 |
|
Capital on hand |
% |
111,14 |
100,91 |
107,01 |
89,56 |
|
Sales pro employee |
Value |
161.561 |
366.590 |
202.626 |
208.953 |
|
Labour cost pro employee |
Value |
32.182 |
64.801 |
32.124 |
36.854 |
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 |
: |
|
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 3.557.
The insolvency index for the region is 0,46, , while for the
province it is 0,55.
Total Bankrupt companies in the province : 2.526.
Total Bankrupt companies in the region : 14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.
S