MIRA INFORM REPORT
|
Report No. : |
311174 |
|
Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
COMUR - S.R.L. |
|
|
|
|
Registered Office : |
Localita’ Fontanine, 52 Silla 40041 – Gaggio Montano (BO) –IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
31.10.1983 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of metal forming machinery and tool machines |
|
|
|
|
No of Employees : |
from 26 to 35 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 industrial 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 133% of GDP in 2013, 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 widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
|
Source
: CIA |
Company
name & address
|
Comur - S.r.l. |
|
Localita' |
Fontanine, |
52 Silla |
|
40041 |
- Gaggio Montano |
(BO) |
-IT- |
Summary
|
Fiscal Code |
: |
02420240372 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
31/10/1983 |
|
Equity |
: |
1.000.000 |
|
Turnover Range |
: |
3.000.000/3.750.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Manufacture of metal forming machinery and
tool machines
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 02420240372 |
|
Chamber of Commerce no. : 283023 of
Bologna since 30/11/1983 |
|
Firms' Register : BO006-36855 of Bologna
since 19/02/1996 |
|
V.A.T. Code : 00576931208 |
|
Establishment date |
: 31/10/1983 |
|
|
Start of Activities |
: 31/10/1983 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 61.880 |
|
|
Subscribed Capital |
: 61.880 |
|
|
Paid up Capital |
: 61.880 |
Members
|
|
Tonelli |
Adolfo |
|
|
Born in Gaggio Montano |
(BO) |
on 30/07/1954 |
- Fiscal Code : TNLDLF54L30D847H |
|
|
Residence: |
Cav. Di Vittorio Veneto |
, 41 |
- 40041 |
Gaggio Montano |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2006 |
||
|
Board Chairman |
29/04/2006 |
||
|
Managing Director |
29/11/2006 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Bernardoni |
Rita |
|
|
Born in Bologna |
(BO) |
on 24/09/1955 |
- Fiscal Code : BRNRTI55P64A944Q |
|
|
Residence: |
Cav. Di Vittorio Veneto |
, 41 |
- 40041 |
Gaggio Montano |
(BO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/04/2006 |
||
|
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 |
|
Tonelli Adolfo |
Gaggio Montano - IT - |
TNLDLF54L30D847H |
30.940 .Eur |
50,00 |
|
Bernardoni Rita |
Gaggio Montano - IT - |
BRNRTI55P64A944Q |
30.940 .Eur |
50,00 |
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 |
|
Fontanine |
, 52 |
- 40041 |
- Gaggio Montano |
(BO) |
- IT - |
|
PHONE |
: 053438012 |
|
- |
Branch |
since 02/01/1986 |
until 01/09/1993 |
|
- 40041 |
- Gaggio Montano |
(BO) |
- IT - |
|
PHONE |
: 0534300006 |
|
- |
Branch |
(Warehouse) |
since 27/12/1996 |
|
Fontanine |
, 51 |
- 40041 |
- Gaggio Montano |
(BO) |
- IT - |
|
- |
Branch |
(Store) |
since 01/07/2007 |
|
Lastra Rossa |
, 52 |
- 40041 |
- Gaggio Montano |
(BO) |
- IT - |
|
Employees |
: 24 |
|
Assistants |
: 2 |
|
Fittings and Equipment for a value of
200.000 |
Eur |
|
Stocks for a value of 580.000 |
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 from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- trading companies |
|
- direct orders from foreign companies |
Import comes generally from the following
nations:
|
- France |
|
- Italy |
|
- Hungary |
Historical
Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Bernardoni |
Rita |
|
|
Born in Bologna |
(BO) |
on 24/09/1955 |
- Fiscal Code : BRNRTI55P64A944Q |
|
|
Residence: |
Cav. Di Vittorio Veneto |
, 41 |
- 40041 |
Gaggio Montano |
(BO) |
- IT - |
|
Ex-Postions |
|
Managing Director |
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 1983.
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. 42,3% on 2013) but
without a significant increase in the turnover.
The operating result was positive in the last financial year (13,86%)
and in line with the sector's average.
An operating result of Eur. 457.120 has been registered. rising (+more
then 100%) in relation to the previous year.
During the latest financial year the gross operating margin amounted to Eur.
500.300 with a more then 100% growth.
Indebtedness is scanty since debts are lower than liquidity.
The management generated equity capital for an amount of Eur. 847.956 ,
rising by 30,46%.
Total debts (both short and M/L term) equals Eur. 1.126.109, , rising as
opposed to the previous year (+32,2%).
Bank and suppliers credit recourse is limited, 88,33 gg. is payment
average period below field's average.
The liquidity level is positive (2,71).
As to due from customers, the average terms are 30,55 days. , lower than
the sector's average.
Eur. 401.845 is the value of cash flow during the year 2013
Labour cost amounts to Eur. 910.907, with a 27,7% incidence on
production costs. , whereas the incidence of such costs on sales revenues is
equal to 24,6%.
The financial management is positive as incomes are higher than the
charges.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.702.970 |
|
Profit (Loss) for the period |
358.665 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.729.085 |
|
Profit (Loss) for the period |
162.348 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.101.599 |
|
Profit (Loss) for the period |
640.794 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.611.758 |
|
Profit (Loss) for the period |
146.701 |
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 |
0,07 |
0,03 |
0,01 |
0,17 |
|
Elasticity Ratio |
Units |
0,92 |
0,97 |
0,99 |
0,80 |
|
Availability of stock |
Units |
0,17 |
0,23 |
0,18 |
0,27 |
|
Total Liquidity Ratio |
Units |
0,75 |
0,74 |
0,81 |
0,50 |
|
Quick Ratio |
Units |
0,62 |
0,44 |
0,64 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
n.c. |
3,14 |
|
Self Financing Ratio |
Units |
0,26 |
0,25 |
0,30 |
0,19 |
|
Capital protection Ratio |
Units |
0,50 |
0,66 |
0,37 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,43 |
0,51 |
0,24 |
0,18 |
|
Financing |
Units |
1,33 |
1,31 |
1,44 |
3,79 |
|
Permanent Indebtedness Ratio |
Units |
0,41 |
0,41 |
0,40 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,17 |
0,10 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,77 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
5,45 |
13,22 |
36,49 |
1,75 |
|
Current ratio |
Units |
2,71 |
2,98 |
2,30 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
2,20 |
2,27 |
1,88 |
0,78 |
|
Structure's primary quotient |
Units |
3,45 |
7,91 |
27,16 |
1,04 |
|
Treasury's primary quotient |
Units |
1,82 |
1,36 |
1,48 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
388,93 |
404,07 |
335,81 |
518,96 |
|
Current Capital ( net ) |
Value |
1.924.309 |
1.689.966 |
2.110.470 |
406.983 |
|
RETURN |
|||||
|
Return on Sales |
% |
10,85 |
4,91 |
13,20 |
3,69 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
42,30 |
24,98 |
57,00 |
5,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
63,75 |
41,27 |
88,03 |
17,72 |
|
Return on Investment ( R.O.I. ) |
% |
13,86 |
7,94 |
25,56 |
3,94 |
|
Return/ Sales |
% |
12,34 |
5,59 |
18,91 |
4,48 |
|
Extra Management revenues/charges incid. |
% |
78,46 |
77,86 |
66,41 |
26,52 |
|
Cash Flow |
Value |
401.845 |
182.950 |
673.478 |
142.024 |
|
Operating Profit |
Value |
457.120 |
208.507 |
964.952 |
126.602 |
|
Gross Operating Margin |
Value |
500.300 |
229.109 |
997.636 |
241.461 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
30,55 |
32,94 |
36,05 |
116,01 |
|
Debts to suppliers average term |
Days |
88,33 |
72,63 |
102,42 |
127,79 |
|
Average stock waiting period |
Days |
55,99 |
58,83 |
47,94 |
96,89 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,12 |
1,42 |
1,35 |
1,03 |
|
Rate of stock return |
Units |
6,43 |
6,12 |
7,51 |
3,58 |
|
Labour cost incidence |
% |
24,60 |
24,44 |
17,28 |
21,20 |
|
Net financial revenues/ charges incidence |
% |
0,83 |
1,60 |
0,47 |
-1,00 |
|
Labour cost on purchasing expenses |
% |
27,70 |
25,79 |
21,18 |
20,95 |
|
Short-term financing charges |
% |
n.c. |
0,14 |
n.c. |
2,70 |
|
Capital on hand |
% |
89,06 |
70,43 |
74,00 |
96,90 |
|
Sales pro employee |
Value |
132.248 |
133.181 |
188.948 |
191.520 |
|
Labour cost pro employee |
Value |
32.532 |
32.545 |
32.648 |
39.641 |
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 45
significant companies.
The companies cash their credits on an
average of 116 dd.
The average duration of suppliers debts is
about 128 dd.
The sector's profitability is on an average
of 3,69%.
The labour cost affects the turnover in the
measure of 21,20%.
Goods are held in stock in a range of 97 dd.
The difference between the sales volume and
the resources used to realize it is about 1,03.
The employees costs represent the 20,95% 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 18.860 protested subjects are
found; in the province they count to 3.720.
The insolvency index for the region is 0,46,
, while for the province it is 0,40.
Total Bankrupt companies in the province :
4.335.
Total Bankrupt companies in the region :
14.698.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.74 |
|
|
1 |
Rs. 94.60 |
|
Euro |
1 |
Rs. 67.09 |
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.