MIRA INFORM REPORT
|
Report No. : |
328381 |
|
Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CASSIOLI S.R.L. |
|
|
|
|
Registered Office : |
Localita Guardavalle, SNC 63 53049 – Torrita di Siena (SI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
20.10.1970 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of lifting and handling equipment |
|
|
|
|
No of Employees : |
from 150 to 175 |
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 – 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 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
|
Cassioli S.r.l. |
|
Localita' |
Guardavalle, |
SNC 63 |
|
53049 |
- Torrita di Siena |
(SI) |
-IT- |
Summary
|
Fiscal Code |
: |
00053160529 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
20/10/1970 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
18.000.000/20.000.000 |
|
Number of Employees |
: |
from 150 to 175 |
Activity
Manufacture of lifting and handling equipment
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 00053160529 |
|
Foreign Trade Reg. no. : SI000596 since 24/12/1991 |
|
Foreign Trade Reg. no. : 596 of Siena since 24/12/1991 |
|
Foreign Trade Reg. no. : 000596 of Siena since 24/12/1991 |
|
Chamber of Commerce no. : 1714156 of Milano |
|
Chamber of Commerce no. : 1442978 of Roma |
|
Chamber of Commerce no. : 57829 of Siena since 05/11/1970 |
|
Firms' Register : SI015-474 of Siena since 19/02/1996 |
|
V.A.T. Code : 00053160529 |
|
Tribunal Co. Register : 474 of |
|
Foundation date |
: 20/11/1970 |
|
|
Establishment date |
: 20/10/1970 |
|
|
Start of Activities |
: 20/10/1970 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 2.800.000 |
|
|
Subscribed Capital |
: 2.800.000 |
|
|
Paid up Capital |
: 2.800.000 |
|
Legal mail : |
CASSIOLISRL@PEC.IT |
Members
|
|
Cassioli |
Marcello |
|
|
Born in Torrita di Siena |
(SI) |
on 05/01/1945 |
- Fiscal Code : CSSMCL45A05L303M |
|
|
Residence: |
Danilo Pieroni |
, 72 |
- 53049 |
Torrita di Siena |
(SI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
30/04/2014 |
||
|
Managing Director |
12/05/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Cassioli |
Paolo |
|
|
Born in Torrita di Siena |
(SI) |
on 16/10/1954 |
- Fiscal Code : CSSPLA54R16L303Q |
|
|
Residence: |
Case Sparse |
, 66 |
- 06063 |
Magione |
(PG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
12/05/2014 |
||
|
Director |
30/04/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Cassioli |
Carlo |
|
|
Born in Torrita di Siena |
(SI) |
on 02/04/1964 |
- Fiscal Code : CSSCRL64D02L303I |
|
|
Residence: |
Poggio Orsolini |
, 36 |
- 53049 |
Torrita di Siena |
(SI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2014 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Cassioli |
Gianni |
|
|
Born in Torrita di Siena |
(SI) |
on 01/08/1973 |
- Fiscal Code : CSSGNN73M01L303H |
|
|
Residence: |
Parma |
, 67 |
- 53049 |
Torrita di Siena |
(SI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2014 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Giomarelli |
Eugenio |
|
|
Born in Chianciano Terme |
(SI) |
on 23/08/1969 |
- Fiscal Code : GMRGNE69M23C608W |
|
|
Residence: |
Della Valle |
, 25 |
- 53042 |
Chianciano Terme |
(SI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditor |
30/04/2014 |
|
|
Del Giorno |
Valerio |
|
|
Born in Roma |
(RM) |
on 27/01/1978 |
- Fiscal Code : DLGVLR78A27H501K |
|
|
Residence: |
Franco Angeli |
, 87 |
- 00155 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
22/04/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Centofanti |
Fabio |
|
|
Born in Roma |
(RM) |
on 27/12/1973 |
- Fiscal Code : CNTFBA73T27H501G |
|
|
Residence: |
Seneca |
, 68 |
- 00136 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Responsible technician |
12/05/2015 |
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.
|
|
Cassioli |
Marcello |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Noi Della Notte S.n.c. Di Cassioli Marcello E C. |
Torrita di Siena (SI) - IT - |
00975310525 |
Director |
Active |
Registered |
|
Rulcar Di Cassioli Paolo E C. S.n.c. |
Torrita di Siena (SI) - IT - |
00053140521 |
Partner |
Withdrawn |
Registered |
|
Rulcar Di Cassioli Paolo E C. S.n.c. |
Torrita di Siena (SI) - IT - |
00053140521 |
Partner |
Active |
Registered |
|
Ottagono Di Cassioli Marcello E C. S.a.s. |
Torrita di Siena (SI) - IT - |
00800680522 |
General Partner |
Withdrawn |
Registered |
|
|
Cassioli |
Paolo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Noi Della Notte S.n.c. Di Cassioli Marcello E C. |
Torrita di Siena (SI) - IT - |
00975310525 |
Director |
Active |
Registered |
|
Rulcar Di Cassioli Paolo E C. S.n.c. |
Torrita di Siena (SI) - IT - |
00053140521 |
Partner |
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 |
|
Cassioli Marcello |
Torrita di Siena - IT - |
CSSMCL45A05L303M |
700.000 .Eur |
25,00 |
|
Cassioli Paolo |
Magione - IT - |
CSSPLA54R16L303Q |
700.000 .Eur |
25,00 |
|
Cassioli Carlo |
Torrita di Siena - IT - |
CSSCRL64D02L303I |
700.000 .Eur |
25,00 |
|
Cassioli Gianni |
Torrita di Siena - IT - |
CSSGNN73M01L303H |
700.000 .Eur |
25,00 |
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 |
|
Cassioli Airport Division S.r.l. |
Torrita di Siena - IT - |
01321870527 |
99.000 .Eur |
99,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
since 20/11/1970 |
|
Guardavalle |
, SNC |
- 53049 |
- Torrita di Siena |
(SI) |
- IT - |
|
PHONE |
: 0577684511 |
|
Legal mail |
: CASSIOLISRL@PEC.IT |
|
- |
Branch |
(office) |
since 01/06/2015 |
|
Fernando De Lucia |
, 35/37 |
- 00100 |
- Roma |
(RM) |
- IT - |
|
Employees |
: 153 |
|
Fittings and Equipment for a value of 420.000 |
Eur |
|
Stocks for a value of 4.720.000 |
Eur |
|
Work in progress for a value of 2.600.000 |
Eur |
The firm operates abroad as exporter..
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
|
- its own sales net-work |
|
- its own agents |
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Italy |
|
- Austria |
|
- Ireland |
Historical
Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
General partnership |
Limited liability company |
01/06/1983 |
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
The company is active since 1970
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
During the last years, it achieved profits (r.o.e. 9,77% on 2013)
The return on Investment in the last financial year was positive (1,6%)
and in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur. 399.000
showing a downwards trend equal to -43,71% if compared to the value of the
financial year 2012.
During the latest financial year the gross operating margin amounted to
Eur. 945.199 ,with no change if compared to the year before.
The financial status of the company is fairly balanced with an indebtedness
level of 1,16 and decreasing as against 2012.
Subject can manage an equity capital funds for an amount of Eur.
6.135.295 , stable in comparison with the value of the previous year.
Total debts recorded amounted to Eur. 16.871.712 (Eur. 5.521.444 of
which were m/l term debts) , a more or less stable value.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high however still within the sector's average.
It shows a good range of liquidity.
Accounts receivable average term is high (138,4 days). even higher than
the average of the specific sector.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 1.109.764
Labour cost amounts to Eur. 6.915.618, with a 35,54% incidence on
production costs. , whereas 37,05% is the incidence on sales revenues.
Financial incomes cover financial charges.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.666.515 |
|
Profit (Loss) for the period |
599.615 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.654.696 |
|
Profit (Loss) for the period |
565.923 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.795.124 |
|
Profit (Loss) for the period |
36.247 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.767.452 |
|
Profit (Loss) for the period |
139.319 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.835.352 |
|
Profit (Loss) for the period |
303.859 |
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 |
0,26 |
0,30 |
0,22 |
0,18 |
|
Elasticity Ratio |
Units |
0,74 |
0,70 |
0,76 |
0,79 |
|
Availability of stock |
Units |
0,19 |
0,23 |
0,27 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,55 |
0,47 |
0,49 |
0,52 |
|
Quick Ratio |
Units |
0,19 |
0,17 |
0,16 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,16 |
1,35 |
1,97 |
3,01 |
|
Self Financing Ratio |
Units |
0,25 |
0,25 |
0,22 |
0,19 |
|
Capital protection Ratio |
Units |
0,74 |
0,72 |
0,80 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,61 |
0,47 |
0,29 |
0,16 |
|
Financing |
Units |
2,75 |
2,59 |
3,09 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,52 |
0,48 |
0,39 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,28 |
0,23 |
0,17 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,46 |
0,05 |
0,00 |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,99 |
1,64 |
1,75 |
1,65 |
|
Current ratio |
Units |
1,62 |
1,43 |
1,31 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,21 |
0,97 |
0,85 |
0,86 |
|
Structure's primary quotient |
Units |
0,94 |
0,86 |
1,00 |
1,02 |
|
Treasury's primary quotient |
Units |
0,42 |
0,35 |
0,28 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
407,10 |
394,12 |
449,47 |
509,92 |
|
Current Capital ( net ) |
Value |
7.047.244 |
4.650.461 |
4.105.146 |
330.495 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,95 |
4,37 |
1,83 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
9,77 |
10,22 |
0,71 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
14,75 |
16,73 |
7,43 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
1,60 |
3,25 |
3,24 |
4,89 |
|
Return/ Sales |
% |
2,14 |
3,27 |
3,10 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
150,28 |
79,83 |
4,91 |
29,96 |
|
Cash Flow |
Value |
1.109.764 |
947.372 |
435.084 |
165.166 |
|
Operating Profit |
Value |
399.000 |
708.943 |
738.389 |
225.594 |
|
Gross Operating Margin |
Value |
945.199 |
1.127.836 |
1.289.496 |
376.080 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
138,40 |
88,10 |
92,38 |
111,07 |
|
Debts to suppliers average term |
Days |
125,62 |
131,50 |
129,50 |
127,44 |
|
Average stock waiting period |
Days |
90,96 |
83,11 |
91,47 |
62,88 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,75 |
0,99 |
1,04 |
1,10 |
|
Rate of stock return |
Units |
3,96 |
4,33 |
3,94 |
5,58 |
|
Labour cost incidence |
% |
37,05 |
31,25 |
26,20 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
1,99 |
1,73 |
-0,11 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
35,54 |
31,21 |
30,08 |
18,99 |
|
Short-term financing charges |
% |
0,68 |
n.c. |
0,65 |
2,55 |
|
Capital on hand |
% |
133,81 |
100,75 |
95,76 |
90,89 |
|
Sales pro employee |
Value |
126.983 |
102.628 |
122.655 |
199.007 |
|
Labour cost pro employee |
Value |
47.045 |
32.072 |
32.133 |
34.820 |
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 1.964 significant companies.
The companies cash their credits on an average of 111 dd.
The average duration of suppliers debts is about 127 dd.
The sector's profitability is on an average of 3,79%.
The labour cost affects the turnover in the measure of 18,94%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and the resources used to
realize it is about 1,10.
The employees costs represent the 18,99% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 24.960 protested subjects are found; in the province they
count to 1.447.
The insolvency index for the region is 0,70, , while for the province it
is 0,56.
Total Bankrupt companies in the province : 850.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.64 |
|
|
1 |
Rs. 100.41 |
|
Euro |
1 |
Rs. 71.62 |
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.