MIRA INFORM REPORT
|
Report No. : |
324286 |
|
Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
R.E.D. GRANITI S.P.A. |
|
|
|
|
Registered Office : |
Galleria San Carlo, 6 20122 -
Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
24.05.2000 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
From 91 to 110 |
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 – 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 |
Company
name and address
|
R.E.D. GRANITI S.P.A. |
|
Galleria San Carlo, 6 20122 -
Milano (MI) -IT- |
Summary
|
Fiscal Code |
: |
13161430155 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
24/05/2000 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 91 to 110 |
Activity
Cutting and carving of stone and marble
Wholesale of other building materials
Legal
Data
Legal Form : Joint stock company with sole shareholder
|
Fiscal Code : 13161430155 |
|
Foreign Trade Reg. no. : MI333779 since 24/06/2003 |
|
Chamber of Commerce no. : 64323 of Gorizia |
|
Chamber of Commerce no. : 1621130 of Milano since 05/07/2000 |
|
Chamber of Commerce no. : 106873 of Massa |
|
Chamber of Commerce no. : 98617 of Ragusa |
|
Chamber of Commerce no. : 327713 of Verona |
|
Firms' Register : MI-2000-168663 of Milano since 05/07/2000 |
|
V.A.T. Code : 13161430155 |
|
Establishment date |
: 24/05/2000 |
|
|
Start of Activities |
: 24/05/2000 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 10.010.000 |
|
|
Subscribed Capital |
: 10.010.000 |
|
|
Paid up Capital |
: 10.010.000 |
|
Legal mail : |
INFOLEGAL@PEC.REDGRANITI.COM |
Members
|
|
Fingildo - Societa' A Responsabilita' Li |
mitata |
|
|
Residence: |
Dorsale |
, 12 |
- 54100 |
Massa |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
06/05/2004 |
|
|
Prejudicial Events found with cancellations* |
Judicial Mortgage
- Mod.60 - 22/10/2010. Event writing-off
|
|
BANCA NAZIONALE DEL LAVORO S. P. A. |
|
|
No Protests registered |
|
|
Bogazzi |
Enrico |
|
|
Born in Carrara |
(MS) |
on 30/07/1940 |
- Fiscal Code : BGZNRC40L30B832T |
|
|
Residence: |
Cairoli |
, 12 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
|
|
Conti |
Franca |
|
|
Born in Carrara |
(MS) |
on 21/04/1959 |
- Fiscal Code : CNTFNC59D61B832S |
|
|
Residence: |
Marco Polo |
, 32 |
- 54036 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
28/06/2013 |
||
|
Director |
28/06/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Conti |
Daniela |
|
|
Born in Carrara |
(MS) |
on 09/12/1955 |
- Fiscal Code : CNTDNL55T49B832V |
|
|
Residence: |
Della Perla |
, 28 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
|
|
Ponzanelli |
Fabrizio |
|
|
Born in Carrara |
(MS) |
on 05/09/1957 |
- Fiscal Code : PNZFRZ57P05B832L |
|
|
Residence: |
Pascoli |
, 9 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
*Concerns also partially erased events.
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.
|
|
Conti |
Franca |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Fingildo - Societa' A Responsabilita' Limitata |
Massa (MS) - IT - |
01534120157 |
Managing Director |
Active |
Registered |
|
Fingildo - Societa' A Responsabilita' Limitata |
Massa (MS) - IT - |
01534120157 |
Director |
Active |
Registered |
|
R.e.d. Graniti - s.r.l. |
Massa (MS) - IT - |
00525290458 |
Managing Director |
Withdrawn |
In liquidation |
|
R.e.d. Graniti - s.r.l. |
Massa (MS) - IT - |
00525290458 |
Liquidator |
Withdrawn |
In liquidation |
|
Jvk S.r.l. |
Milano (MI) - IT - |
04032450969 |
Director |
Withdrawn |
Ceased |
|
Jvk S.r.l. |
Milano (MI) - IT - |
04032450969 |
Board Chairman |
Withdrawn |
Ceased |
|
Sami - S.p.a. |
Massa (MS) - IT - |
00184820454 |
Managing Director |
Withdrawn |
Ceased |
|
Sami - S.p.a. |
Massa (MS) - IT - |
00184820454 |
Director |
Withdrawn |
Ceased |
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 |
|
Fingildo - Societa' A Responsabilita' Li mitata |
Massa - IT - |
01534120157 |
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 |
|
Jvk S.r.l. |
Milano - IT - |
04032450969 |
2.500.000 .Eur |
50,00 |
Ceased |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
San Carlo |
, 6 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 058588471 |
|
FAX |
: 0585884848 |
|
Legal mail |
: INFOLEGAL@PEC.REDGRANITI.COM |
|
- |
Secondary office |
|
Dorsale |
- 54100 |
- Massa |
(MS) |
- IT - |
|
PHONE |
: 058588471 |
|
FAX |
: 0585884848 |
|
- |
Branch |
(Warehouse) |
since 09/06/2003 |
|
Fontana |
, 273 |
- 37020 |
- Dolce' |
(VR) |
- IT - |
|
Employees |
: 101 |
|
Fittings and Equipment for a value of 420.000 |
Eur |
|
Stocks for a value of 66.660.000 |
Eur |
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
|
|
|
DORSALE |
, 12 |
, 54100 |
, MASSA |
(MS) |
- IT - |
|
|
Fiscal Code: 00713860450 |
|
|
Date |
Merging/splitting-up project: |
05/08/2009 |
|
|
The firm absorbed by merging of |
|
|
|
|
DORSALE |
, 12 |
, 54100 |
, MASSA |
(MS) |
- IT - |
|
|
Fiscal Code: 00713860450 |
|
|
Date |
: |
30/12/2009 |
|
|
The firm took over the activity of |
|
|
|
|
Dorsale |
, 12 |
, 54100 |
, Massa |
(MS) |
- IT - |
|
|
Fiscal Code: 00525290458 |
|
|
Date |
: |
21/12/2000 |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA INTESA S.P.A. |
Financial
and Economical Analysis
Company's starting of activities dates back to 2000.
The eonomic-financial analysis is based on the latest 3 b/s.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 1,74% in 2013 with an increase in 2013 (+9,94%).
The operating result was positive in the last financial year (3,86%)
falling within the field's average.
The amount of the operating result is equal to Eur. 7.774.207 showing an
upward trend 49,67% compared to the previous financial year.
During the latest financial year the gross operating margin amounted to
Eur. 8.217.758 showing a 23,53% growth.
The company has an excellent net worth if compared to its debts, with a
low indebtedness (0,68) and with an upward trend compared to the previous year.
With regard to equity capital, an amount of Eur. 61.495.428 is
registered. , increasing by 21,71% if compared to the financial year 2012.
During the last financial year total debts volume reached Eur.
135.623.425 (Eur. 91.849.015 were m/l term ones) showing a stable trend as
opposed to 2012 (Eur. 146.994.749).
Bank borrowings' volume is slightly high but the recourse to suppliers'
credit is modest below the sector's average.
Payments are supported by good current assets.
As to due from customers, the average terms are 55,08 days. , lower than
the sector's average.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 1.515.556
Subordinate employment cost is of Eur. 3.233.899, i.e. 4,81% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 4,38%.
High incidence of financial charges on turnover.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.811.312 |
|
Profit (Loss) for the period |
1.072.005 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
67.134.344 |
|
Profit (Loss) for the period |
784.947 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.231.382 |
|
Profit (Loss) for the period |
774.632 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
74.332.518 |
|
Profit (Loss) for the period |
563.326 |
|
|
Complete balance-sheet for the year |
al 31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
63.168.476 |
|
Profit (Loss) for the period |
-2.543.054 |
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 |
0,54 |
0,53 |
0,44 |
0,29 |
|
Elasticity Ratio |
Units |
0,46 |
0,47 |
0,56 |
0,69 |
|
Availability of stock |
Units |
0,33 |
0,34 |
0,42 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,13 |
0,14 |
0,14 |
0,41 |
|
Quick Ratio |
Units |
0,01 |
0,00 |
0,01 |
0,01 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,68 |
1,00 |
0,68 |
1,78 |
|
Self Financing Ratio |
Units |
0,31 |
0,25 |
0,29 |
0,27 |
|
Capital protection Ratio |
Units |
0,82 |
0,79 |
0,78 |
0,69 |
|
Liabilities consolidation quotient |
Units |
2,13 |
1,90 |
2,55 |
0,23 |
|
Financing |
Units |
2,21 |
2,91 |
2,47 |
2,41 |
|
Permanent Indebtedness Ratio |
Units |
0,77 |
0,74 |
0,80 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,46 |
0,48 |
0,51 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
2,04 |
2,75 |
2,30 |
0,98 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,43 |
1,40 |
1,80 |
1,51 |
|
Current ratio |
Units |
2,14 |
1,85 |
2,79 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,61 |
0,53 |
0,69 |
0,75 |
|
Structure's primary quotient |
Units |
0,57 |
0,48 |
0,65 |
0,83 |
|
Treasury's primary quotient |
Units |
0,04 |
0,02 |
0,03 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
327,82 |
396,79 |
350,39 |
366,48 |
|
Current Capital ( net ) |
Value |
49.690.399 |
43.704.564 |
62.445.766 |
233.017 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,05 |
1,85 |
4,26 |
3,37 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,74 |
1,55 |
1,56 |
3,34 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
3,78 |
3,76 |
3,01 |
11,22 |
|
Return on Investment ( R.O.I. ) |
% |
3,86 |
2,59 |
2,53 |
4,00 |
|
Return/ Sales |
% |
10,53 |
7,74 |
6,03 |
4,88 |
|
Extra Management revenues/charges incid. |
% |
13,79 |
15,11 |
17,55 |
19,82 |
|
Cash Flow |
Value |
1.515.556 |
1.242.900 |
3.122.435 |
65.183 |
|
Operating Profit |
Value |
7.774.207 |
5.193.999 |
4.414.226 |
108.595 |
|
Gross Operating Margin |
Value |
8.217.758 |
6.651.952 |
6.773.820 |
167.146 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
55,08 |
67,67 |
55,95 |
131,41 |
|
Debts to suppliers average term |
Days |
28,15 |
20,90 |
30,79 |
111,40 |
|
Average stock waiting period |
Days |
325,14 |
362,80 |
360,84 |
96,30 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,37 |
0,33 |
0,42 |
0,84 |
|
Rate of stock return |
Units |
1,11 |
0,99 |
1,00 |
3,72 |
|
Labour cost incidence |
% |
4,38 |
4,90 |
4,13 |
14,94 |
|
Net financial revenues/ charges incidence |
% |
-3,77 |
-4,80 |
-3,79 |
-2,29 |
|
Labour cost on purchasing expenses |
% |
4,81 |
5,22 |
4,35 |
14,35 |
|
Short-term financing charges |
% |
3,80 |
2,50 |
2,46 |
3,61 |
|
Capital on hand |
% |
273,12 |
298,62 |
237,99 |
118,11 |
|
Sales pro employee |
Value |
730.805 |
658.179 |
779.057 |
209.056 |
|
Labour cost pro employee |
Value |
32.018 |
32.251 |
32.202 |
33.287 |
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 588 significant companies.
The companies cash their credits on an average of 131 dd.
The average duration of suppliers debts is about 111 dd.
The sector's profitability is on an average of 3,37%.
The labour cost affects the turnover in the measure of 14,94%.
Goods are held in stock in a range of 96 dd.
The difference between the sales volume and the resources used to
realize it is about 0,84.
The employees costs represent the 14,35% 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 50.886 protested subjects are found; in the province they
count to 24.765.
The insolvency index for the region is 0,55, , while for the province it
is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.62 |
|
|
1 |
Rs.96.51 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.