MIRA INFORM REPORT
|
Report No. : |
326802 |
|
Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
OFFICINE VIMERCATI - S.R.L. |
|
|
|
|
Registered Office : |
Via Fornasotto, 3 24040 – Pontirolo Nuovo (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.01.1974 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of other metal objects and trinkets |
|
|
|
|
No of Employees : |
from 51 to 70 |
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
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
|
Officine Vimercati - S.r.l. |
|
Via |
Fornasotto, |
3 |
|
24040 |
- Pontirolo Nuovo |
(BG) |
-IT- |
Summary
|
Fiscal Code |
: |
00379770167 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
03/01/1974 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
20.000.000/25.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Manufacture of other metal objects and trinkets
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 00379770167 |
|
Foreign Trade Reg. no. : BG002478 since 09/12/1991 |
|
Chamber of Commerce no. : 148387 of Bergamo since 11/04/1974 |
|
Firms' Register : BG024-23009 of Bergamo since 19/02/1996 |
|
V.A.T. Code : 00379770167 |
|
Foundation date |
: 03/01/1974 |
|
|
Establishment date |
: 24/11/1983 |
|
|
Start of Activities |
: 03/01/1974 |
|
|
Legal duration |
: 31/12/2100 |
|
|
Nominal Capital |
: 166.400 |
|
|
Subscribed Capital |
: 166.400 |
|
|
Paid up Capital |
: 166.400 |
|
Legal mail : |
OFFICINE-VIMERCATI@CERT.INTERACTIVE.EU |
Members
|
|
Vimercati |
Angelo Mario |
|
|
Born in Bergamo |
(BG) |
on 12/01/1961 |
- Fiscal Code : VMRNLM61A12A794N |
|
|
Residence: |
Brembate |
, 33 |
- 24040 |
Canonica d'Adda |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/09/2006 |
||
|
Board Chairman |
28/10/2011 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Vimercati |
Massimo |
|
|
Born in Bergamo |
(BG) |
on 05/02/1966 |
- Fiscal Code : VMRMSM66B05A794F |
|
|
Residence: |
Della Vigna |
, 187 |
- 24045 |
Fara Gera d'Adda |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/09/2006 |
|
|
Vimercati |
Enio |
|
|
Born in Bergamo |
(BG) |
on 04/09/1968 |
- Fiscal Code : VMRNEI68P04A794A |
|
|
Residence: |
Arnichi |
, 17 |
- 24041 |
Brembate |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/09/2006 |
|
|
Vimercati |
Elena |
|
|
Born in Bergamo |
(BG) |
on 29/06/1971 |
- Fiscal Code : VMRLNE71H69A794G |
|
|
Residence: |
Antonio Meucci |
, 27/A |
- 24050 |
Lurano |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/10/2011 |
||
|
Partner |
|
|
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 |
|
Vimercati Ugo |
Fara Gera d'Adda - IT - |
VMRGUO28S30I506B |
31.616 .Eur |
19,00 |
|
Vimercati Giovanni |
Brembate - IT - |
VMRGNN35R19G867D |
31.616 .Eur |
19,00 |
|
Vimercati Augusto |
Canonica d'Adda - IT - |
VMRGST32D06G867Q |
31.616 .Eur |
19,00 |
|
Vimercati Angelo Mario |
Canonica d'Adda - IT - |
VMRNLM61A12A794N |
9.984 .Eur |
6,00 |
|
Vimercati Massimo |
Fara Gera d'Adda - IT - |
VMRMSM66B05A794F |
9.984 .Eur |
6,00 |
|
Vimercati Enio |
Brembate - IT - |
VMRNEI68P04A794A |
9.984 .Eur |
6,00 |
|
Vimercati Elena |
Lurano - IT - |
VMRLNE71H69A794G |
41.600 .Eur |
25,00 |
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 |
(Workshop) |
since 03/01/1974 |
|
Fornasotto |
, 3 |
- 24040 |
- Pontirolo Nuovo |
(BG) |
- IT - |
|
PHONE |
: 0363330152 |
|
FAX |
: 0363330277 |
|
FAX |
: 0363330002 |
|
Legal mail |
: OFFICINE-VIMERCATI@CERT.INTERACTIVE.EU |
|
- |
Branch |
(Workshop) |
since 03/12/2013 |
|
Bergamo |
, 8 |
- 24040 |
- Pontirolo Nuovo |
(BG) |
- IT - |
|
Employees |
: 62 |
|
Fittings and Equipment for a value of 2.220.000 |
Eur |
|
Stocks for a value of 980.000 |
Eur |
|
Vehicles for a value of 33.000 |
Eur |
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Austria |
Historical
Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
De facto company |
Limited liability company |
24/11/1983 |
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
F.lli Vimercati S.d.f. |
24/11/1983 |
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 1974.
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 6,87% in 2013 with a stable trend in the turnover.
The operating result was positive in the last financial year (3,86%) and
in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur. 666.955
, with no sizeable change as opposed to the year before.
The economic management produced a gross operating margin of Eur.
1.493.406 ,with no change if compared to the year before.
The financial status of the company is fairly balanced with an indebtedness
level of 2,94 and decreasing as against 2012.
Subject can manage an equity capital funds for an amount of Eur.
3.559.351 on stable levels.
Total debts recorded amounted to Eur. 12.139.173 (Eur. 1.487.752 of
which were m/l term debts) , a more or less stable value.
Financial debts as well as debts to suppliers are rather high even if it
still falls within the sector's average.
It shows a good range of liquidity.
Due from customers average term is high and equal to 138,97 days.
besides being higher than the sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 1.070.865
Labour cost amounts to Eur. 3.529.479, with a 16,32% incidence on
production costs. and a 15,94% incidence on sales volumes.
The incidence of the financial charges is of -0,93% on the sales amount.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.135.651 |
|
Profit (Loss) for the period |
244.414 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.126.929 |
|
Profit (Loss) for the period |
314.904 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
26.118.344 |
|
Profit (Loss) for the period |
110.513 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
15.322.714 |
|
Profit (Loss) for the period |
35.193 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.536.967 |
|
Profit (Loss) for the period |
-109.637 |
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 |
0,33 |
0,33 |
0,29 |
0,28 |
|
Elasticity Ratio |
Units |
0,67 |
0,67 |
0,71 |
0,69 |
|
Availability of stock |
Units |
0,06 |
0,03 |
0,05 |
0,18 |
|
Total Liquidity Ratio |
Units |
0,62 |
0,64 |
0,66 |
0,47 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,01 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,94 |
3,70 |
4,57 |
2,32 |
|
Self Financing Ratio |
Units |
0,21 |
0,17 |
0,15 |
0,23 |
|
Capital protection Ratio |
Units |
0,88 |
0,95 |
0,91 |
0,74 |
|
Liabilities consolidation quotient |
Units |
0,21 |
0,21 |
0,17 |
0,24 |
|
Financing |
Units |
3,41 |
4,27 |
5,20 |
2,86 |
|
Permanent Indebtedness Ratio |
Units |
0,34 |
0,30 |
0,27 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,13 |
0,12 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
1,21 |
2,18 |
2,12 |
0,91 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,03 |
0,92 |
0,92 |
1,37 |
|
Current ratio |
Units |
1,09 |
1,06 |
1,03 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,00 |
1,01 |
0,96 |
0,84 |
|
Structure's primary quotient |
Units |
0,63 |
0,52 |
0,51 |
0,86 |
|
Treasury's primary quotient |
Units |
0,02 |
0,00 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
485,65 |
586,39 |
670,77 |
422,49 |
|
Current Capital ( net ) |
Value |
990.151 |
694.174 |
390.328 |
281.462 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,84 |
5,04 |
3,13 |
3,68 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
6,87 |
10,13 |
3,50 |
3,84 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
13,17 |
16,23 |
9,78 |
12,87 |
|
Return on Investment ( R.O.I. ) |
% |
3,86 |
3,41 |
2,49 |
4,59 |
|
Return/ Sales |
% |
3,01 |
2,81 |
2,02 |
4,38 |
|
Extra Management revenues/charges incid. |
% |
36,65 |
50,70 |
20,94 |
22,35 |
|
Cash Flow |
Value |
1.070.865 |
1.114.278 |
818.186 |
131.799 |
|
Operating Profit |
Value |
666.955 |
621.073 |
527.641 |
134.410 |
|
Gross Operating Margin |
Value |
1.493.406 |
1.420.447 |
1.235.314 |
257.621 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
138,97 |
148,37 |
158,46 |
106,38 |
|
Debts to suppliers average term |
Days |
141,83 |
123,90 |
148,27 |
123,44 |
|
Average stock waiting period |
Days |
16,02 |
8,70 |
13,85 |
62,20 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,28 |
1,21 |
1,23 |
1,07 |
|
Rate of stock return |
Units |
22,47 |
41,36 |
25,99 |
5,77 |
|
Labour cost incidence |
% |
15,94 |
14,96 |
12,38 |
17,51 |
|
Net financial revenues/ charges incidence |
% |
-0,93 |
-1,10 |
-0,80 |
-1,55 |
|
Labour cost on purchasing expenses |
% |
16,32 |
15,30 |
12,60 |
17,84 |
|
Short-term financing charges |
% |
1,70 |
1,84 |
1,27 |
3,12 |
|
Capital on hand |
% |
78,09 |
82,39 |
81,12 |
93,68 |
|
Sales pro employee |
Value |
201.233 |
214.824 |
258.597 |
193.450 |
|
Labour cost pro employee |
Value |
32.086 |
32.146 |
32.017 |
33.229 |
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 1.399 significant companies.
The companies cash their credits on an average of 106 dd.
The average duration of suppliers debts is about 123 dd.
The sector's profitability is on an average of 3,68%.
The labour cost affects the turnover in the measure of 17,51%.
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 1,07.
The employees costs represent the 17,84% 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 4.150.
The insolvency index for the region is 0,55, , while for the province it
is 0,41.
Total Bankrupt companies in the province : 4.376.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.93 |
|
|
1 |
Rs. 98.26 |
|
Euro |
1 |
Rs. 72.36 |
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.