MIRA INFORM REPORT
|
Report No. : |
328647 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RIACETECH S.R.L. |
|
|
|
|
Registered Office : |
Via Di Pescaiola, 85/F Viciomaggio 52041 – Civitella in Val di Chiana (AR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
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|
|
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Date of Incorporation : |
04.01.2007 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
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|
|
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Line of Business : |
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|
|
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No of Employees : |
from 11 to 15 |
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 |
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|
|
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Payment Behaviour : |
Slow But Correct |
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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
|
Riacetech S.r.l. |
|
Via |
Di Pescaiola, |
85/F VICIOMAGGIO |
|
52041 |
- Civitella in Val di Chiana |
(AR) |
-IT- |
Summary
|
Fiscal Code |
: |
01896610514 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
04/01/2007 |
|
Equity |
: |
500.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
Activity
Electrical installation in buildings or in other constructions ( inc
luding maintenance and repair)
Electrical installation (including maintenance and repair)
Legal
Data
Legal Form : Sole-Member Limited Liability Company
|
Register of Handcraft firms : 51390 of Arezzo |
|
Fiscal Code : 01896610514 |
|
Chamber of Commerce no. : 147070 of Arezzo since 14/11/2006 |
|
V.A.T. Code : 01896610514 |
|
Establishment date |
: 09/11/2006 |
|
|
Start of Activities |
: 04/01/2007 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 10.000 |
|
|
Subscribed Capital |
: 10.000 |
|
|
Paid up Capital |
: 10.000 |
|
Legal mail : |
RIACETECH@PEC.IT |
Members
|
|
Lejkowski |
Giovanni |
|
|
Born in Arezzo |
(AR) |
on 12/01/1970 |
- Fiscal Code : LJKGNN70A12A390R |
|
|
Residence: |
Societa' Operaia |
, 2 |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Responsible technician |
05/08/2011 |
||
|
Sole Director |
05/08/2011 |
||
|
Sole partner |
10/08/2011 |
|
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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.
|
|
Lejkowski |
Giovanni |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Ism Project S.r.l. |
Civitella in Val di Chiana (AR) - IT - |
00914080148 |
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 |
|
Lejkowski Giovanni |
Arezzo - IT - |
LJKGNN70A12A390R |
100,00 |
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 |
|
Consorzio Per La Promozione Della Cultur a Plastica (proplast) |
Tortona - IT - |
96029550066 |
Active |
||||
|
Ism Project S.r.l. |
Civitella in Val di Chiana - IT - |
00914080148 |
20.000 .Eur |
100,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Di Pescaiola |
, 85/F |
- 52040 |
- Civitella in Val di Chiana |
(AR) |
- IT - |
|
Trading Style: RIACETECH |
|
Legal mail |
: RIACETECH@PEC.IT |
|
- |
Branch |
(Workshop) |
since 21/12/2013 |
|
Molinara |
, 35/A/B |
- 52040 |
- Civitella in Val di Chiana |
(AR) |
- IT - |
|
Employees |
: 10 |
|
Assistants |
: 2 |
|
Stocks for a value of 520.000 |
Eur |
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 2007.
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it recorded positive net results (r.o.e. 97,34%
in 2014) with a good increase in turnover (+21,6% in 2014 compared to 2013 and
+20,57% in 2013 compared to 2012).
The operating result in 2014 was positive (33,92%) and even better than
sector's average.
The amount of the operating result is equal to Eur. 654.595 showing a
fall as opposed to the previous year (-22,47%).
A gross operating margine for a value of Eur. 691.475 was reached.
showing a drop (-21,06%).
The financial status of the company is fairly balanced with an
indebtedness level of 1,21 yet on the increase as against the previous
accounting period.
The equity capital is equal to Eur. 450.569 showing a -30,75% drop.
Total indebtedness was equal to Eur. 1.459.530 (Eur. 500.000 was the
value of m/l term debts) increasing if compared to the previous year, during
which they were equal to Eur. 708.550 (more then 100%).
Financial debts exposure is under control while the recourse to commercial
credit is rather frequent even if it is lower than the sector's average.
It shows a good range of liquidity.
On average trade credits are collected in 52,05 days. , a value lower
than the sector's average.
Eur. 475.449 is the value of cash flow during the year 2014
Labour cost amounts to Eur. 543.095, with a 14,25% incidence on
production costs. and a 12,45% incidence on sales volumes.
The financial management is positive as incomes are higher than the
charges.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.360.509 |
|
Profit (Loss) for the period |
438.569 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.585.676 |
|
Profit (Loss) for the period |
565.362 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.973.834 |
|
Profit (Loss) for the period |
563.017 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.717.921 |
|
Profit (Loss) for the period |
276.338 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.224.787 |
|
Profit (Loss) for the period |
106.363 |
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 31/12/2014 - 12 Mesi - Currency: - Amounts x 1 |
|
- 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 |
|
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Ratios
|
RATIOS |
Value Type |
as at 31/12/2014 |
as at 31/12/2013 |
as at 31/12/2012 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,11 |
0,37 |
0,12 |
0,12 |
|
Elasticity Ratio |
Units |
0,89 |
0,62 |
0,87 |
0,85 |
|
Availability of stock |
Units |
0,27 |
0,36 |
0,32 |
0,13 |
|
Total Liquidity Ratio |
Units |
0,62 |
0,26 |
0,56 |
0,67 |
|
Quick Ratio |
Units |
0,22 |
0,05 |
0,38 |
0,04 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,21 |
0,98 |
0,16 |
5,09 |
|
Self Financing Ratio |
Units |
0,23 |
0,47 |
0,49 |
0,13 |
|
Capital protection Ratio |
Units |
0,00 |
0,12 |
0,00 |
0,49 |
|
Liabilities consolidation quotient |
Units |
0,54 |
0,02 |
0,12 |
0,11 |
|
Financing |
Units |
3,24 |
1,09 |
1,02 |
6,19 |
|
Permanent Indebtedness Ratio |
Units |
0,50 |
0,48 |
0,54 |
0,25 |
|
M/L term Debts Ratio |
Units |
0,27 |
0,01 |
0,06 |
0,08 |
|
Net Financial Indebtedness Ratio |
Units |
0,19 |
n.c. |
n.c. |
0,89 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
4,54 |
1,30 |
4,56 |
1,81 |
|
Current ratio |
Units |
1,79 |
1,20 |
1,93 |
1,12 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,25 |
0,50 |
1,23 |
0,95 |
|
Structure's primary quotient |
Units |
2,11 |
1,27 |
4,09 |
1,04 |
|
Treasury's primary quotient |
Units |
0,43 |
0,10 |
0,83 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
428,36 |
211,28 |
205,04 |
769,78 |
|
Current Capital ( net ) |
Value |
755.411 |
138.923 |
495.947 |
76.802 |
|
RETURN |
|||||
|
Return on Sales |
% |
10,90 |
16,65 |
19,58 |
2,96 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
97,34 |
86,88 |
97,86 |
8,95 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
147,95 |
131,34 |
144,13 |
29,42 |
|
Return on Investment ( R.O.I. ) |
% |
33,92 |
61,41 |
69,76 |
5,23 |
|
Return/ Sales |
% |
15,01 |
23,55 |
27,67 |
4,98 |
|
Extra Management revenues/charges incid. |
% |
67,00 |
66,96 |
68,41 |
24,55 |
|
Cash Flow |
Value |
475.449 |
597.050 |
582.343 |
43.211 |
|
Operating Profit |
Value |
654.595 |
844.341 |
822.974 |
70.778 |
|
Gross Operating Margin |
Value |
691.475 |
876.029 |
842.300 |
101.164 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
52,05 |
n.c. |
n.c. |
151,02 |
|
Debts to suppliers average term |
Days |
98,44 |
n.c. |
n.c. |
170,53 |
|
Average stock waiting period |
Days |
42,59 |
49,58 |
45,19 |
37,36 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,26 |
2,61 |
2,52 |
1,16 |
|
Rate of stock return |
Units |
8,45 |
7,26 |
7,97 |
9,15 |
|
Labour cost incidence |
% |
12,45 |
11,98 |
8,78 |
21,18 |
|
Net financial revenues/ charges incidence |
% |
0,28 |
0,29 |
0,21 |
-1,34 |
|
Labour cost on purchasing expenses |
% |
14,25 |
14,76 |
11,68 |
21,47 |
|
Short-term financing charges |
% |
0,15 |
0,24 |
0,63 |
2,18 |
|
Capital on hand |
% |
44,26 |
38,34 |
39,67 |
86,08 |
|
Sales pro employee |
Value |
272.531 |
275.821 |
371.729 |
145.714 |
|
Labour cost pro employee |
Value |
33.943 |
33.037 |
32.642 |
32.556 |
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 4.211 significant companies.
The companies cash their credits on an average of 151 dd.
The average duration of suppliers debts is about 171 dd.
The sector's profitability is on an average of 2,96%.
The labour cost affects the turnover in the measure of 21,18%.
Goods are held in stock in a range of 37 dd.
The difference between the sales volume and the resources used to
realize it is about 1,16.
The employees costs represent the 21,47% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 2.227.
The insolvency index for the region is 0,70, , while for the province it
is 0,67.
Total Bankrupt companies in the province : 1.151.
Total Bankrupt companies in the region : 20.423.
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
: |
DIV |
|
|
|
|
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.