MIRA INFORM REPORT
|
Report No. : |
323271 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIMON BUILDING S.R.L. |
|
|
|
|
Registered Office : |
Via Roma, 13 23845 - Costa
Masnaga (LC) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.09.2007 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
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Line of Business : |
Manufacture of metal structures and structure parts. |
|
|
|
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No. of Employee : |
From 6 to 10 |
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 |
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|
|
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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 – 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 |
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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 |
Company
name and address
|
Simon Building S.r.l. |
|
Via Roma, 13 23845 - Costa
Masnaga (LC) |
Summary
|
Fiscal Code |
: |
03057190138 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
03/09/2007 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
9.000.000/10.000.000 |
|
Number of Employees |
: |
from 6 to 10 |
Activity
Manufacture of metal structures and structure parts
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 03057190138 |
|
Chamber of Commerce no. : 305852 of Lecco since 27/06/2007 |
|
Establishment date |
: 08/06/2007 |
|
|
Start of Activities |
: 03/09/2007 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Legal mail : |
SIMONBUILDING@PEC.IT |
Members
|
|
Tocchetti |
Flavia |
|
|
Born in Lecco |
(CO) |
on 13/06/1957 |
- Fiscal Code : TCCFLV57H53E507E |
|
|
Residence: |
Caprera |
, 17 |
- 23900 |
Lecco |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
08/06/2007 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Xea S.a. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
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.
|
|
Tocchetti |
Flavia |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Simon S.r.l. - In Liquidazione |
Castello di Brianza (LC) - IT - |
10744980151 |
Procurator |
Active |
Registered |
|
Simon Service S.r.l. |
Costa Masnaga (LC) - IT - |
02420840130 |
Sole Director |
Active |
Registered |
|
Simon Service S.r.l. |
Costa Masnaga (LC) - IT - |
02420840130 |
Procurator |
Active |
Registered |
|
C.s.c. Snc Di Tocchetti Flavia E C. |
Costa Masnaga (LC) - IT - |
03200780132 |
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 |
|
Tocchetti Flavia |
Lecco - IT - |
TCCFLV57H53E507E |
5.000 .Eur |
5,00 |
|
Fantini Pierluigi |
FNTPLG67P23C573Y |
5.000 .Eur |
5,00 |
|
|
Xea S.a. |
90.000 .Eur |
90,00 |
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 |
|
Simon Service S.r.l. |
Costa Masnaga - IT - |
02420840130 |
10.500 .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 |
|
Roma |
, 13 |
- 22041 |
- Costa Masnaga |
(LC) |
- IT - |
|
Legal mail |
: SIMONBUILDING@PEC.IT |
|
- |
Branch |
(Representative office) |
since 19/12/2007 |
|
Fangyuan West Road |
, 5 |
- Beijing |
- IT - |
|
Employees |
: 6 |
|
Fittings and Equipment for a value of 360.000 |
Eur |
|
Stocks for a value of 2.880.000 |
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.
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. 8,14% on 2013) and
during the last financial year an increase in sales volume was registered
(+14,97% in 2013).
The operating result in 2013 was positive (2,8%) falling within the
field's average.
The amount of the operating result for the year 2013 is of Eur. 232.097
showing a fall as opposed to the previous year (-25,7%).
A gross operating margine for a value of Eur. 351.292 was reached.
stable if compared to the financial year 2012.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (10,41) which tends downward.
The management generated equity capital for an amount of Eur. 689.504 on
stable levels.
Total indebtedness was equal to Eur. 7.562.249 (Eur. 377.786 was the
value of m/l term debts) on the same levels as the year before.
If compared to the net worth, debts towards banks are remarkably high
while the recourse to commercial credit is modest below the sector's average.
Payments are supported by good current assets.
Trade credits average terms are slow, on average 125,21 days. but on the
same levels as the average of the sector.
During financial year 2013 the cash flow amounted to Eur. 175.310
Labour cost amounts to Eur. 158.858, with a 1,66% incidence on
production costs. , whereas the incidence on sales revenues is of 1,65%.
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 |
9.651.847 |
|
Profit (Loss) for the period |
56.115 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.394.438 |
|
Profit (Loss) for the period |
53.209 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.974.898 |
|
Profit (Loss) for the period |
77.507 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.347.247 |
|
Profit (Loss) for the period |
72.279 |
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 |
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 |
0,09 |
0,09 |
0,04 |
0,20 |
|
Elasticity Ratio |
Units |
0,87 |
0,86 |
0,93 |
0,77 |
|
Availability of stock |
Units |
0,35 |
0,42 |
0,49 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,52 |
0,44 |
0,44 |
0,55 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
10,41 |
11,37 |
9,47 |
4,09 |
|
Self Financing Ratio |
Units |
0,08 |
0,08 |
0,09 |
0,15 |
|
Capital protection Ratio |
Units |
0,77 |
0,76 |
0,71 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,07 |
0,08 |
0,16 |
|
Financing |
Units |
10,97 |
12,20 |
10,25 |
5,11 |
|
Permanent Indebtedness Ratio |
Units |
0,13 |
0,14 |
0,16 |
0,31 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,06 |
0,07 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
7,48 |
7,89 |
5,74 |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,53 |
1,49 |
3,56 |
1,34 |
|
Current ratio |
Units |
1,00 |
1,00 |
1,11 |
1,09 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,60 |
0,51 |
0,52 |
0,85 |
|
Structure's primary quotient |
Units |
0,97 |
0,80 |
2,03 |
0,75 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,01 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
1200,18 |
1322,85 |
1127,37 |
660,68 |
|
Current Capital ( net ) |
Value |
-3.659 |
-21.967 |
615.783 |
80.037 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,82 |
1,85 |
1,54 |
3,45 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
8,14 |
8,40 |
12,70 |
7,93 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
14,42 |
12,96 |
23,11 |
23,28 |
|
Return on Investment ( R.O.I. ) |
% |
2,80 |
3,73 |
3,95 |
4,91 |
|
Return/ Sales |
% |
2,40 |
3,72 |
2,72 |
4,60 |
|
Extra Management revenues/charges incid. |
% |
24,18 |
17,03 |
28,55 |
26,08 |
|
Cash Flow |
Value |
175.310 |
155.622 |
153.799 |
67.440 |
|
Operating Profit |
Value |
232.097 |
312.392 |
271.519 |
88.577 |
|
Gross Operating Margin |
Value |
351.292 |
414.805 |
347.811 |
150.352 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
125,21 |
121,95 |
82,93 |
126,77 |
|
Debts to suppliers average term |
Days |
88,66 |
110,93 |
98,05 |
141,48 |
|
Average stock waiting period |
Days |
107,54 |
149,82 |
122,43 |
45,00 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,17 |
1,00 |
1,45 |
1,12 |
|
Rate of stock return |
Units |
3,35 |
2,40 |
2,94 |
7,83 |
|
Labour cost incidence |
% |
1,65 |
2,12 |
2,27 |
20,16 |
|
Net financial revenues/ charges incidence |
% |
-1,37 |
-2,82 |
-1,41 |
-1,63 |
|
Labour cost on purchasing expenses |
% |
1,66 |
2,16 |
2,33 |
20,64 |
|
Short-term financing charges |
% |
1,86 |
3,07 |
2,25 |
2,63 |
|
Capital on hand |
% |
85,74 |
99,81 |
69,00 |
89,16 |
|
Sales pro employee |
Value |
2.412.961 |
1.291.452 |
1.424.985 |
163.688 |
|
Labour cost pro employee |
Value |
39.714 |
27.334 |
32.316 |
32.486 |
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 3.053 significant companies.
The companies cash their credits on an average of 127 dd.
The average duration of suppliers debts is about 141 dd.
The sector's profitability is on an average of 3,45%.
The labour cost affects the turnover in the measure of 20,16%.
Goods are held in stock in a range of 45 dd.
The difference between the sales volume and the resources used to
realize it is about 1,12.
The employees costs represent the 20,64% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they
count to 1.666.
The insolvency index for the region is 0,55, , while for the province it
is 0,52.
Total Bankrupt companies in the province : 940.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.