|
Report No. : |
321532.2 |
|
Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
C.M. BERNARDINI S.R.L. |
|
|
|
|
Registered Office : |
Via Appia, KM.55,90, 04012 - Cisterna Di
Latina (LT) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.09.2005 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
From 16 to 25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 |
C.M. BERNARDINI S.R.L.
Via Appia, KM.55,90
04012 - Cisterna di Latina (LT) -IT-
|
Fiscal Code |
: |
02239970599 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
26/09/2005 |
|
Equity |
: |
1.000.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
General mechanics
Legal Form : Limited liability company
|
Fiscal Code : 02239970599 |
|
Chamber of Commerce no. : 156279 of Latina since 12/01/2005 |
|
V.A.T. Code : 02239970599 |
|
Establishment date |
: 23/12/2004 |
|
|
Start of Activities |
: 26/09/2005 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Legal mail : |
CMBERNARDINI@PEC.IT |
|
|
Bernardini |
Mario |
|
|
Born in Roma |
(RM) |
on 09/02/1939 |
- Fiscal Code : BRNMRA39B09H501K |
|
|
Residence: |
Ruzzante |
, 10 |
- 00145 |
Roma |
(RM) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/09/2012 |
||
|
Director |
28/09/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Palombi |
Roberto |
|
|
Born in Latina |
(LT) |
on 20/07/1964 |
- Fiscal Code : PLMRRT64L20E472X |
|
|
Residence: |
Oslavia |
, 3 |
- 04100 |
Latina |
(LT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/05/2013 |
|
|
Muraca |
Vito |
|
|
Born in San Vito sullo Ionio |
(CZ) |
on 12/09/1954 |
- Fiscal Code : MRCVTI54P12I393K |
|
|
Residence: |
A. Scarlatti |
, 25 |
- 04011 |
Aprilia |
(LT) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
28/09/2012 |
||
|
Director |
28/09/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Deltur S.p.a. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Bernardini |
Mario |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Costruzioni Meccaniche Bernardini C.m.b.Societa' Per Azioni In Forma
Abbreviat |
Pomezia (RM) - IT - |
03726761004 |
Managing
Director |
Withdrawn |
Ceased |
|
C.m. Bernardini International S.p.a. |
Cisterna di Latina (LT) - IT - |
02814030595 |
Board Chairman |
Active |
Registered |
|
|
Muraca |
Vito |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
C.m. Bernardini International S.p.a. |
Cisterna di Latina (LT) - IT - |
02814030595 |
Managing
Director |
Active |
Registered |
|
C.m. Bernardini International S.p.a. |
Cisterna di Latina (LT) - IT - |
02814030595 |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bernardini Mario |
Roma - IT - |
BRNMRA39B09H501K |
34.000 .Eur |
34,00 |
|
Muraca Vito |
Aprilia - IT - |
MRCVTI54P12I393K |
33.000 .Eur |
33,00 |
|
Deltur S.p.a. |
02439300597 |
33.000 .Eur |
33,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
C.m. Bernardini International S.p.a. |
Cisterna di Latina - IT - |
02814030595 |
120.000 .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 |
|
Appia |
, KM.55,90 |
- 04012 |
- Cisterna di Latina |
(LT) |
- IT - |
|
Legal mail |
: CMBERNARDINI@PEC.IT |
|
- |
Branch |
(office) |
since 26/09/2005 |
|
Appia Km. 55,900 |
- 04012 |
- Cisterna di Latina |
(LT) |
- IT - |
|
Employees |
: 17 |
|
Fittings and Equipment for a value of 630.000 |
Eur |
|
Stocks for a value of 16.130.000 |
Eur |
Historical Information and/or Firm's Status
EX-MEMBERS / EX-POSITIONS:
|
|
Coccato |
Paolino |
|
|
Born in Sermoneta |
(LT) |
on 10/07/1949 |
- Fiscal Code : CCCPLN49L10I634Z |
|
|
Residence: |
Valle Pazza |
, SNC |
- 04018 |
Sezze |
(LT) |
- IT - |
|
Ex-Postions |
|
Board Chairman |
Protests checking on the subject firm has given a negative result.
Search performed on a National Scale
|
|
Prejudicial Events Search Result: NEGATIVE |
Search performed on a specialized data base.
None reported, standing to the latest received edition of the Official
Publications.
Subject is active since 2005
An eco-fin analysis has been made on the base od the b/s fo the years
2011, 2012 and 2013.
During the last years, it achieved profits (r.o.e. 51,08% on 2013)
The operating result in 2013 was positive (3,27%) falling within the
field's average.
The amount of the operating result for the year 2013 is of Eur. 775.199
, on more or less the same values as in the year before.
The gross operating margin of the latest financial year is of Eur.
797.427 with no sensible increase as against 2012.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (22,39) and increasing if compared to the
previous year.
The equity capital is equal to Eur. 848.884 , unchanged if compared to
2012.
Total indebtedness totalled Eur. 22.587.399, with a growth equal to more
then 100%.
Current liquid assets is positive.
Eur. 455.879 is the value of cash flow during the year 2013
Labour cost amounts to Eur. 1.226.441, with a 8,68% incidence on
production costs. , with a 32% incidence on turnover.
If compared to the sales volume (-0,44%), the impact of the financial
charges is limited.
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.832.786 |
|
Profit (Loss) for the period |
433.651 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.270.707 |
|
Profit (Loss) for the period |
438.654 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.666.536 |
|
Profit (Loss) for the period |
111.531 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.231.429 |
|
Profit (Loss) for the period |
122.118 |
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 |
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 |
0,00 |
0,00 |
0,01 |
0,24 |
|
Elasticity Ratio |
Units |
1,00 |
1,00 |
0,88 |
0,73 |
|
Availability of stock |
Units |
0,68 |
0,52 |
0,27 |
0,13 |
|
Total Liquidity Ratio |
Units |
0,32 |
0,47 |
0,61 |
0,54 |
|
Quick Ratio |
Units |
0,15 |
0,21 |
0,17 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
22,39 |
9,48 |
13,25 |
3,02 |
|
Self Financing Ratio |
Units |
0,04 |
0,07 |
0,05 |
0,19 |
|
Capital protection Ratio |
Units |
0,37 |
0,25 |
0,24 |
0,67 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,01 |
0,02 |
0,21 |
|
Financing |
Units |
26,61 |
12,34 |
16,63 |
3,82 |
|
Permanent Indebtedness Ratio |
Units |
0,04 |
0,09 |
0,07 |
0,37 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,02 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,54 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
12,09 |
22,66 |
13,12 |
1,36 |
|
Current ratio |
Units |
1,05 |
1,10 |
1,04 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,33 |
0,52 |
0,72 |
0,90 |
|
Structure's primary quotient |
Units |
10,32 |
19,32 |
9,84 |
0,80 |
|
Treasury's primary quotient |
Units |
0,16 |
0,23 |
0,20 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
2794,91 |
1366,56 |
1978,49 |
522,79 |
|
Current Capital ( net ) |
Value |
1.050.296 |
909.407 |
189.002 |
137.035 |
|
RETURN |
|||||
|
Return on Sales |
% |
11,89 |
8,64 |
2,13 |
4,19 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
51,08 |
61,33 |
40,33 |
6,82 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
91,83 |
97,94 |
110,47 |
21,82 |
|
Return on Investment ( R.O.I. ) |
% |
3,27 |
6,71 |
7,69 |
5,32 |
|
Return/ Sales |
% |
20,23 |
12,43 |
7,43 |
4,80 |
|
Extra Management revenues/charges incid. |
% |
55,94 |
66,93 |
26,49 |
24,34 |
|
Cash Flow |
Value |
455.879 |
455.474 |
120.529 |
122.584 |
|
Operating Profit |
Value |
775.199 |
655.383 |
421.049 |
134.039 |
|
Gross Operating Margin |
Value |
797.427 |
672.203 |
430.047 |
232.049 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
113,47 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
128,87 |
|
Average stock waiting period |
Days |
1515,39 |
349,26 |
92,71 |
41,22 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,16 |
0,54 |
1,04 |
1,15 |
|
Rate of stock return |
Units |
0,24 |
1,03 |
3,88 |
8,63 |
|
Labour cost incidence |
% |
32,00 |
18,55 |
15,29 |
23,26 |
|
Net financial revenues/ charges incidence |
% |
-0,44 |
-0,02 |
-0,41 |
-1,36 |
|
Labour cost on purchasing expenses |
% |
8,68 |
11,47 |
16,70 |
23,52 |
|
Short-term financing charges |
% |
0,10 |
0,07 |
0,53 |
2,74 |
|
Capital on hand |
% |
619,02 |
185,44 |
96,57 |
87,13 |
|
Sales pro employee |
Value |
100.862 |
175.690 |
209.871 |
150.278 |
|
Labour cost pro employee |
Value |
32.274 |
32.591 |
32.099 |
33.017 |
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 |
: |
519.850 |
|
Population living in the region |
: |
5.269.972 |
|
Number of families in the region |
: |
2.091.220 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
472 |
|
- per non food products |
: |
1.832 |
|
- per energy consume |
: |
102 |
The values are calculated on a base of 3.083 significant companies.
The companies cash their credits on an average of 113 dd.
The average duration of suppliers debts is about 129 dd.
The sector's profitability is on an average of 4,19%.
The labour cost affects the turnover in the measure of 23,26%.
Goods are held in stock in a range of 41 dd.
The difference between the sales volume and the resources used to
realize it is about 1,15.
The employees costs represent the 23,52% of the production costs.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered remarkably risky.
In the region 53.924 protested subjects are found; in the province they
count to 7.827.
The insolvency index for the region is 1,04, , while for the province it
is 1,53.
Total Bankrupt companies in the province : 2.794.
Total Bankrupt companies in the region : 37.442.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.