MIRA INFORM REPORT
|
Report No. : |
347531 |
|
Report Date : |
05.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
LANDGRAF S.R.L. |
|
|
|
|
Registered Office : |
Via Grandi, 1/B-1/C MAZZO, 20017 – Rho (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.09.1962 |
|
|
|
|
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 : |
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 – 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 |
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
LANDGRAF S.R.L.
Via Grandi, 1/B-1/C MAZZO
20017 - Rho (MI) -IT-
Summary
|
Fiscal
Code |
: |
00738670157 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
22/09/1962 |
|
Equity |
: |
Over
2.582.254 |
|
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 : 00738670157 |
|
Foreign
Trade Reg. no. : 054052 of Milano since 19/12/1991 |
|
Foreign
Trade Reg. no. : 0980698 of Milano |
|
Chamber
of Commerce no. : 604326 of Milano since 27/09/1962 |
|
Firms'
Register : MI146-117290 of Milano since 19/02/1996 |
|
V.A.T.
Code : 00738670157 |
|
Tribunal
Co. Register : 117290 of |
|
Foundation
date |
:
22/09/1962 |
|
Establishment
date |
:
22/09/1962 |
|
Start
of Activities |
:
22/09/1962 |
|
Legal
duration |
:
31/12/2029 |
|
Nominal
Capital |
:
100.000 |
|
Subscribed
Capital |
:
100.000 |
|
Paid
up Capital |
:
100.000 |
|
Legal
mail : |
LANDGRAF@PEC.IT |
Members
|
|
Santambrogio |
Massimo |
|
|
Born
in Busto Arsizio |
(VA) |
on
07/09/1961 |
-
Fiscal Code : SNTMSM61P07B300Q |
|
|
Residence: |
Adda |
,
141 |
-
21050 |
Marnate |
(VA) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole
Director |
15/07/2005 |
|
|
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 |
|
Santambrogio
Massimo |
Marnate
- IT - |
SNTMSM61P07B300Q |
99.000
.Eur |
99,00 |
|
Santambrogio
Mattia |
SNTMTT87E09B300T |
1.000
.Eur |
1,00 |
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 |
since
22/09/1962 |
|
Grandi |
,
1/B-1/C |
-
20017 |
-
Rho |
(MI) |
-
IT - |
|
PHONE |
:
02/38010018 |
|
PHONE |
:
0293903904 |
|
FAX |
:
0293469574 |
|
Legal
mail |
:
LANDGRAF@PEC.IT |
|
Employees |
:
32 |
|
Assistants |
:
1 |
|
Fittings
and Equipment for a value of 80.000 |
Eur |
|
Stocks
for a value of 2.830.000 |
Eur |
|
Work
in progress for a value of 450.000 |
Eur |
The
firm operates abroad as importer / exporter..
Export
represents from 20% to 50% of the global turnover.
Export
is mainly towards:
|
-
Italy |
|
-
France |
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
The
company is active since 1962
The
eonomic-financial analysis is based on the latest 3 b/s.
During
the last years, it recorded positive net results (r.o.e. 5,45% in 2014)
The
operating result in 2014 was positive (4,12%) falling within the field's
average.
The
amount of the operating result is equal to Eur. 428.328 recording a drop as
opposed to the year before (-86,73%).
The
economic management produced a gross operating margin of Eur. 478.451 , with a
-85,4% decrease.
The
analysis shows a fair financial position as the indebtedness volume is
acceptable (1,02) yet on the increase as against the previous accounting
period.
It's
shareholders funds amount to Eur. 4.389.684 , unchanged as opposed to the
preceding year.
Total
indebtedness totalled Eur. 5.619.782, increasing if compared to the previous
year, during which they were equal to Eur. 1.478.752 (more then 100%).
Liquidity
is good.
The
financial management generated a cash flow of Eur. 289.367.
In
the last financial year labour cost was of Eur. 1.038.077, with a 20,58%
incidence on total costs of production. and a 32,4% incidence on sales volumes.
Financial
Data
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
3.204.189 |
|
Profit
(Loss) for the period |
239.244 |
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
12.425.962 |
|
Profit
(Loss) for the period |
2.185.814 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
6.792.171 |
|
Profit
(Loss) for the period |
455.404 |
|
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
989.765 |
|
Profit
(Loss) for the period |
81.040 |
|
|
Complete
balance-sheet for the year |
al
31/12/2010 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
1.052.585 |
|
Profit
(Loss) for the period |
46.736 |
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 |
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 |
0,29 |
0,49 |
0,19 |
0,17 |
|
Elasticity
Ratio |
Units |
0,71 |
0,51 |
0,81 |
0,80 |
|
Availability
of stock |
Units |
0,27 |
0,09 |
0,37 |
0,27 |
|
Total
Liquidity Ratio |
Units |
0,44 |
0,42 |
0,44 |
0,50 |
|
Quick
Ratio |
Units |
0,11 |
0,09 |
0,13 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
1,02 |
0,23 |
4,39 |
3,14 |
|
Self
Financing Ratio |
Units |
0,42 |
0,69 |
0,15 |
0,19 |
|
Capital
protection Ratio |
Units |
0,92 |
0,45 |
0,72 |
0,68 |
|
Liabilities
consolidation quotient |
Units |
0,06 |
0,19 |
0,02 |
0,18 |
|
Financing |
Units |
1,28 |
0,36 |
5,24 |
3,79 |
|
Permanent
Indebtedness Ratio |
Units |
0,45 |
0,74 |
0,17 |
0,34 |
|
M/L
term Debts Ratio |
Units |
0,03 |
0,05 |
0,02 |
0,09 |
|
Net
Financial Indebtedness Ratio |
Units |
n.c. |
0,00 |
0,14 |
0,77 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
1,58 |
1,51 |
0,93 |
1,75 |
|
Current
ratio |
Units |
1,32 |
2,06 |
1,00 |
1,23 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,82 |
1,71 |
0,54 |
0,78 |
|
Structure's
primary quotient |
Units |
1,48 |
1,41 |
0,83 |
1,04 |
|
Treasury's
primary quotient |
Units |
0,20 |
0,35 |
0,16 |
0,05 |
|
Rate
of indebtedness ( Leverage ) |
% |
236,94 |
144,14 |
645,18 |
518,96 |
|
Current
Capital ( net ) |
Value |
1.808.039 |
1.565.993 |
14.180 |
406.983 |
|
RETURN |
|||||
|
Return
on Sales |
% |
9,03 |
17,99 |
7,38 |
3,69 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
5,45 |
52,66 |
23,18 |
5,16 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
9,76 |
77,74 |
37,86 |
17,72 |
|
Return
on Investment ( R.O.I. ) |
% |
4,12 |
53,96 |
5,84 |
3,94 |
|
Return/
Sales |
% |
13,37 |
25,98 |
10,90 |
4,48 |
|
Extra
Management revenues/charges incid. |
% |
55,86 |
67,70 |
61,50 |
26,52 |
|
Cash
Flow |
Value |
289.367 |
2.235.937 |
501.414 |
142.024 |
|
Operating
Profit |
Value |
428.328 |
3.228.462 |
740.536 |
126.602 |
|
Gross
Operating Margin |
Value |
478.451 |
3.278.585 |
786.546 |
241.461 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
n.c. |
11,17 |
148,23 |
116,01 |
|
Debts
to suppliers average term |
Days |
n.c. |
17,69 |
92,28 |
127,79 |
|
Average
stock waiting period |
Days |
318,01 |
14,86 |
249,95 |
96,89 |
|
Rate
of capital employed return ( Turnover ) |
Units |
0,31 |
2,08 |
0,54 |
1,03 |
|
Rate
of stock return |
Units |
1,13 |
24,22 |
1,44 |
3,58 |
|
Labour
cost incidence |
% |
32,40 |
7,95 |
16,03 |
21,20 |
|
Net
financial revenues/ charges incidence |
% |
n.c. |
-0,01 |
0,05 |
-1,00 |
|
Labour
cost on purchasing expenses |
% |
20,58 |
19,77 |
16,28 |
20,95 |
|
Short-term
financing charges |
% |
0,06 |
0,20 |
0,05 |
2,70 |
|
Capital
on hand |
% |
324,60 |
48,15 |
186,62 |
96,90 |
|
Sales
pro employee |
Value |
100.130 |
414.198 |
199.769 |
191.520 |
|
Labour
cost pro employee |
Value |
32.439 |
32.923 |
32.031 |
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 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.65.57 |
|
|
1 |
Rs.101.13 |
|
Euro |
1 |
Rs.71.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NIT |
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.