MIRA INFORM REPORT
|
Report No. : |
328666 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CONCERIA MONTEBELLO S.P.A. |
|
|
|
|
Registered Office : |
Via Lungochiampo, 123, 36054 – Montebello Vicentino (VI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.11.1977 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Preparation and tanning of leather; dressing and dyeing of fur |
|
|
|
|
No of Employees : |
from 201 to 250 |
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
|
Conceria Montebello
S.p.a. |
|
Via |
Lungochiampo, |
123 |
|
36054 |
- Montebello Vicentino |
(VI) |
-IT- |
Summary
|
Fiscal Code |
: |
00584940241 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
08/11/1977 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 201 to 250 |
Activity
Preparation and tanning of leather; dressing
and dyeing of fur
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 00584940241 |
|
Foreign Trade Reg. no. : VI010509 since
12/12/1991 |
|
Foreign Trade Reg. no. : 10509 of Vicenza
since 12/12/1991 |
|
Chamber of Commerce no. : 139090 of
Vicenza since 29/11/1977 |
|
Firms' Register : VI116-8674 of Vicenza
since 19/02/1996 |
|
V.A.T. Code : 00584940241 |
|
Tribunal Co. Register : 8674 of |
|
Foundation date |
: 08/11/1977 |
|
|
Establishment date |
: 08/11/1977 |
|
|
Start of Activities |
: 08/11/1977 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.200.000 |
|
|
Subscribed Capital |
: 10.200.000 |
|
|
Paid up Capital |
: 10.200.000 |
|
Legal mail : |
CONCERIA.MONTEBELLO@CERT.ASSIND.VI.IT |
Members
|
|
Dalle Mese |
Gianfranco |
|
|
Born in Montecchio Maggiore |
(VI) |
on 17/03/1962 |
- Fiscal Code : DLLGFR62C17F464X |
|
|
Residence: |
Dei Frati |
, 5 |
- 36071 |
Arzignano |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
11/05/2012 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Dalle Mese |
Nadia |
|
|
Born in Arzignano |
(VI) |
on 21/03/1954 |
- Fiscal Code : DLLNDA54C61A459B |
|
|
Residence: |
Calavena Alta |
, 29 |
- 36071 |
Arzignano |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
01/03/2004 |
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Brancati |
Filippo |
|
|
Born in Palizzi |
(RC) |
on 02/12/1950 |
- Fiscal Code : BRNFPP50T02G277X |
|
|
Residence: |
Calavena Alta |
, 29 |
- 36071 |
Arzignano |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
24/01/2006 |
|
|
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.
|
|
Dalle Mese |
Gianfranco |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Dalle Mese Srl |
Montebello Vicentino (VI) - IT - |
00166690248 |
Attorney with
special power |
Active |
Registered |
|
Ge.ma.ta. - S.p.a. |
Trissino (VI) - IT - |
00669660243 |
Director |
Active |
Registered |
|
Utiac Spa |
Arzignano (VI) - IT - |
02934120243 |
Director |
Active |
Registered |
|
Studio Art S.r.l. |
Montebello Vicentino (VI) - IT - |
02834000248 |
Attorney with
special power |
Active |
Registered |
|
Distretto Conciario Vicentino |
Arzignano (VI) - IT - |
03523100240 |
Assistant board
Chairman |
Withdrawn |
Registered |
|
Distretto Conciario Vicentino |
Arzignano (VI) - IT - |
03523100240 |
Baord of
Directors' member |
Active |
Registered |
|
Arc Srl |
Arzignano (VI) - IT - |
03181900246 |
Procurator |
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 |
|
Dalle Mese Gianfranco |
Arzignano - IT - |
DLLGFR62C17F464X |
6.834.000 .Eur |
67,00 |
|
Dalle Mese Nadia |
Arzignano - IT - |
DLLNDA54C61A459B |
3.366.000 .Eur |
33,00 |
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 |
|
Intesa Holding S.p.a. |
Chiampo - IT - |
01905000244 |
77.981 .Eur |
2,73 |
Active |
||
|
Utiac Spa |
Arzignano - IT - |
02934120243 |
53.750 .Eur |
3,14 |
Active |
||
|
Dalle Mese Srl |
Montebello Vicentino - IT - |
00166690248 |
56.056 .Eur |
49,00 |
Active |
Firm's
location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Legal and
operative seat |
since 08/11/1977 |
|
Lungochiampo |
, 123 |
- 36054 |
- Montebello Vicentino |
(VI) |
- IT - |
|
TELEX |
: 431194 COM |
|
PHONE |
: 0444/649555 |
|
PHONE |
: 0444449511 |
|
FAX |
: 0444449596 |
|
Legal mail |
: CONCERIA.MONTEBELLO@CERT.ASSIND.VI.IT |
|
Employees |
: 215 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
2.200.000 |
Eur |
|
Stocks for a value of 14.480.000 |
Eur |
|
Furniture and fittings for a value of
41.000 |
Eur |
|
Vehicles for a value of 5.000 |
Eur |
The firm operates abroad as importer /
exporter..
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
|
- direct orders from foreign companies |
Import comes generally from the following
nations:
|
- Belgium |
|
- France |
|
- Italy |
|
- Somalia |
|
- Austria |
Export is mainly towards:
|
- Italy |
|
- Belgium |
|
- France |
|
- Somalia |
|
- Austria |
Historical
Information and/or Firm's Status
COMPANY'S CAPITAL
CHANGES:
|
Former Type |
Former Amount |
New Type |
New Amount |
Changement Date |
|
nominal |
1.704.308 |
nominal |
2.530.639 |
08/10/1998 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of
merging by taking over of |
|
|
|
|
Lungochiampo |
, 125 |
, 36054 |
, Montebello Vicentino |
(VI) |
- IT - |
|
|
Fiscal Code: 01970880249 |
|
|
Date |
Merging/splitting-up project: |
08/06/1998 |
|
|
The firm
absorbed by merging of |
|
|
|
|
Lungochiampo |
, 125 |
, 36054 |
, Montebello Vicentino |
(VI) |
- IT - |
|
|
Fiscal Code: 01970880249 |
|
|
Date |
: |
10/12/1998 |
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 1977.
An eco-fin analysis has been made on the base od the b/s fo the years
2011, 2012 and 2013.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 5,34% in 2013
The operating result was positive in the last financial year (4,27%) and
in line with the sector's average.
The amount of the operating result for the year 2013 is of Eur.
2.320.851 ,showing stability in respect to the value of 2012.
The G.O.M. amounted to Eur. 3.457.465 stable if compared to the
financial year 2012.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,92 lower than in 2012.
With regard to equity capital, an amount of Eur. 23.236.927 is
registered. , unchanged as opposed to the preceding year.
During the last financial year total debts volume reached Eur.
29.074.686 (Eur. 4.213.442 were m/l term ones) , a more or less stable value.
The company does not exceed in bank borrowings; the recourse to
suppliers' credit is also limited which is also lower than the sector average.
Payments are supported by good current assets.
Accounts receivable average term is high (93,81 days). but in line with
the sector.
The financial management generated a cash flow of Eur. 2.372.073.
Labour cost expenses amount to Eur. 9.636.973 , representing 14,66% on
the total of production costs. , with a 15,12% incidence on turnover.
Limited financial charges in relation to sales volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
63.726.666 |
|
Profit (Loss) for the period |
1.241.459 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
69.560.515 |
|
Profit (Loss) for the period |
1.510.477 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
63.058.107 |
|
Profit (Loss) for the period |
678.314 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
56.074.675 |
|
Profit (Loss) for the period |
412.109 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
38.947.873 |
|
Profit (Loss) for the period |
54.527 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
0,31 |
0,34 |
0,26 |
0,18 |
|
Elasticity Ratio |
Units |
0,69 |
0,66 |
0,74 |
0,80 |
|
Availability of stock |
Units |
0,27 |
0,21 |
0,29 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,42 |
0,45 |
0,45 |
0,51 |
|
Quick Ratio |
Units |
0,06 |
0,04 |
0,03 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,92 |
1,02 |
1,47 |
2,38 |
|
Self Financing Ratio |
Units |
0,43 |
0,43 |
0,33 |
0,24 |
|
Capital protection Ratio |
Units |
0,51 |
0,47 |
0,37 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,22 |
0,17 |
0,27 |
0,18 |
|
Financing |
Units |
1,25 |
1,25 |
1,91 |
2,86 |
|
Permanent Indebtedness Ratio |
Units |
0,53 |
0,51 |
0,47 |
0,38 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,08 |
0,14 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,60 |
0,59 |
0,90 |
1,00 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,68 |
1,51 |
1,82 |
1,78 |
|
Current ratio |
Units |
1,50 |
1,39 |
1,44 |
1,25 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,92 |
0,96 |
0,87 |
0,84 |
|
Structure's primary quotient |
Units |
1,36 |
1,26 |
1,28 |
1,07 |
|
Treasury's primary quotient |
Units |
0,14 |
0,08 |
0,06 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
234,15 |
234,39 |
304,00 |
408,81 |
|
Current Capital ( net ) |
Value |
12.462.706 |
9.647.611 |
11.740.108 |
312.424 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,72 |
3,67 |
2,52 |
2,67 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
5,34 |
6,87 |
3,95 |
3,20 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
8,66 |
10,38 |
7,76 |
8,58 |
|
Return on Investment ( R.O.I. ) |
% |
4,27 |
4,24 |
2,90 |
4,36 |
|
Return/ Sales |
% |
3,64 |
3,14 |
2,40 |
3,63 |
|
Extra Management revenues/charges incid. |
% |
53,49 |
69,12 |
44,85 |
23,99 |
|
Cash Flow |
Value |
2.372.073 |
2.552.456 |
1.587.303 |
112.609 |
|
Operating Profit |
Value |
2.320.851 |
2.185.357 |
1.512.537 |
127.644 |
|
Gross Operating Margin |
Value |
3.457.465 |
3.232.336 |
2.421.526 |
230.719 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
93,81 |
102,39 |
116,86 |
101,46 |
|
Debts to suppliers average term |
Days |
67,20 |
73,67 |
95,07 |
94,66 |
|
Average stock waiting period |
Days |
81,82 |
55,39 |
86,94 |
56,34 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,17 |
1,35 |
1,21 |
1,34 |
|
Rate of stock return |
Units |
4,40 |
6,50 |
4,14 |
6,30 |
|
Labour cost incidence |
% |
15,12 |
13,84 |
14,54 |
12,44 |
|
Net financial revenues/ charges incidence |
% |
-0,66 |
-0,37 |
-0,28 |
-1,48 |
|
Labour cost on purchasing expenses |
% |
14,66 |
15,08 |
14,47 |
12,90 |
|
Short-term financing charges |
% |
1,76 |
1,48 |
1,07 |
3,49 |
|
Capital on hand |
% |
85,38 |
74,11 |
82,69 |
74,43 |
|
Sales pro employee |
Value |
211.716 |
231.868 |
220.482 |
253.464 |
|
Labour cost pro employee |
Value |
32.016 |
32.095 |
32.053 |
32.147 |
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 923
significant companies.
The companies cash their credits on an
average of 101 dd.
The average duration of suppliers debts is
about 95 dd.
The sector's profitability is on an average
of 2,67%.
The labour cost affects the turnover in the
measure of 12,44%.
Goods are held in stock in a range of 56 dd.
The difference between the sales volume and
the resources used to realize it is about 1,34.
The employees costs represent the 12,90% of
the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes
through serious crises.
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. 63.61 |
|
|
1 |
Rs. 99.79 |
|
Euro |
1 |
Rs. 71.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
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.