MIRA INFORM REPORT
|
Report No. : |
348231 |
|
Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
COS.MEC
S.R.L. |
|
|
|
|
Registered Office : |
Via Aldo Moro, 17/19, 20037 - Paderno Dugnano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
25.01.1994 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacture of machinery and equipment for the chemical, petrochemical and petroleum industries. (Including seperate parts and accessories) · Manufacture of machinery for the food, beverage and tobacco industries. |
|
|
|
|
No. of Employees : |
From 36 to 50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
200.000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
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 – 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
COS.MEC S.R.L.
Via Aldo Moro, 17/19
20037 - Paderno Dugnano (MI) -IT-
Summary
|
Fiscal Code |
: |
11116320158 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
25/04/1994 |
|
Equity |
: |
750.000 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
Credit
Analysis
|
Credit Opinion |
: |
200.000 - |
|
n.b.: The Creditworthness Rate shows,
in percentage, the ratio between the suggested credit opinion and the credit
amount that the firm could get if the financial situation would be completely
positive. |
Activity
Manufacture of machinery and
equipment for the chemical, petrochemical and petroleum industries (Including
seperate parts and accessories)
Manufacture of machinery for the
food, beverage and tobacco industries
Legal
Data
Legal Form : Sole-Member Limited
Liability Company
|
Register of Handcraft firms :
365034 of Milano |
|
Fiscal Code : 11116320158 |
|
Foreign Trade Reg. no. : MI234894
since 09/11/1995 |
|
Foreign Trade Reg. no. : 234894 of
Milano since 09/11/1995 |
|
Chamber of Commerce no. : 1439970
of Milano since 22/03/1994 |
|
Firms' Register : MI146-342380 of Milano
since 19/02/1996 |
|
V.A.T. Code : 11116320158 |
|
Establishment date |
: 25/01/1994 |
|
|
Start of Activities |
: 25/04/1994 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 80.000 |
|
|
Subscribed Capital |
: 80.000 |
|
|
Paid up Capital |
: 80.000 |
|
Legal mail : |
COSMEC-SRL@PEC.IT |
Members
|
|
Lamanna |
Angelo |
|
|
Born in Milano |
(MI) |
on 10/05/1960 |
- Fiscal Code : LMNNGL60E10F205U |
|
|
Residence: |
Giuseppe Avezzana |
, 23 |
- 20139 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
11/01/2002 |
||
|
Sole partner |
|
|
No Prejudicial events are reported |
|
|
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.
|
|
Lamanna |
Angelo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
La.im S.r.l. |
Paderno Dugnano (MI) - IT - |
06057350966 |
Director |
Active |
Registered |
|
La.im S.r.l. |
Paderno Dugnano (MI) - IT - |
06057350966 |
Sole Director |
Withdrawn |
Registered |
|
La.im S.r.l. |
Paderno Dugnano (MI) - IT - |
06057350966 |
Board Chairman |
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 |
|
Lamanna Angelo |
Milano - IT - |
LMNNGL60E10F205U |
100,00 |
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 |
|
Aldo Moro |
, 17/19 |
- 20037 |
- Paderno Dugnano |
(MI) |
- IT - |
|
Legal mail |
: COSMEC-SRL@PEC.IT |
|
- |
Branch |
(Store) |
since 15/07/1999 |
|
Guido Rossa |
, 2 |
- 20037 |
- Paderno Dugnano |
(MI) |
- IT - |
|
PHONE |
: 02/874815 |
|
Employees |
: 38 |
|
Fittings and Equipment for a value
of 57.000 |
Eur |
|
Stocks for a value of 1.170.000 |
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
The company is active since 1994
An eco-fin analysis has been made on
the base od the b/s fo the years 2012, 2013 and 2014.
During the last years, it recorded
positive net results (r.o.e. 0,48% in 2014) with a stable trend in the
turnover.
The operating result was positive in
the last financial year (1,12%) and reflects the field's average.
An operating result of Eur. 72.450
has been registered. with a -28,63% fall as against the year 2013.
The economic management produced a
gross operating margin of Eur. 209.073 on the same levels as the previous
financial year.
The ratio between shareholder's
equity and borrowed capital is not well balanced, the indebtedness level is
equal to 6,45 increasing as against 2013.
With regard to equity capital, an
amount of Eur. 695.779 is registered. , unchanged if compared to 2013.
The financial management has
recorded total debts amounting to Eur. 5.380.023, , showing an upward trend if
compared to 2013.
Financial debts exposure is under
control while the recourse to commercial credit is rather frequent however
still within the sector's average.
Liquidity is not completely
adequate.
Trade credits are collected slowly,
average term is 122,71 days. within the standard level of the average of the
sector.
The financial management generated a
cash flow of Eur. 132.469.
Labour cost expenses amount to Eur.
1.232.803 , representing 17,49% on the total of production costs. , whereas the
incidence of such costs on sales revenues is equal to 15,4%.
The financial management has a limited
economic impact, equal to -0,41% on the sales.
Financial
Data
|
|
Complete balance-sheet for the
year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.004.195 |
|
Profit (Loss) for the period |
3.346 |
|
|
Complete balance-sheet for the
year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.922.085 |
|
Profit (Loss) for the period |
3.359 |
|
|
Complete balance-sheet for the
year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.211.605 |
|
Profit (Loss) for the period |
47.654 |
|
|
Complete balance-sheet for the
year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.154.968 |
|
Profit (Loss) for the period |
672 |
|
|
Complete balance-sheet for the
year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.615.979 |
|
Profit (Loss) for the period |
501 |
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 |
0,17 |
0,22 |
0,16 |
0,18 |
|
Elasticity Ratio |
Units |
0,80 |
0,77 |
0,84 |
0,79 |
|
Availability of stock |
Units |
0,18 |
0,44 |
0,45 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,62 |
0,33 |
0,39 |
0,52 |
|
Quick Ratio |
Units |
0,14 |
0,01 |
0,01 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
6,45 |
5,30 |
6,24 |
3,01 |
|
Self Financing Ratio |
Units |
0,11 |
0,15 |
0,13 |
0,19 |
|
Capital protection Ratio |
Units |
0,88 |
0,88 |
0,82 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,08 |
0,08 |
0,16 |
|
Financing |
Units |
7,73 |
5,39 |
6,57 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,16 |
0,21 |
0,19 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,06 |
0,07 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
n.c. |
n.c. |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
0,94 |
0,93 |
1,22 |
1,65 |
|
Current ratio |
Units |
0,96 |
0,98 |
1,05 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,74 |
0,43 |
0,49 |
0,86 |
|
Structure's primary quotient |
Units |
0,64 |
0,65 |
0,80 |
1,02 |
|
Treasury's primary quotient |
Units |
0,17 |
0,01 |
0,02 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
925,79 |
682,63 |
791,96 |
509,92 |
|
Current Capital ( net ) |
Value |
-238.286 |
-67.375 |
227.203 |
330.495 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,65 |
1,53 |
2,11 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,48 |
0,49 |
6,54 |
6,70 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
5,69 |
5,72 |
14,87 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
1,12 |
2,15 |
2,35 |
4,89 |
|
Return/ Sales |
% |
0,91 |
1,28 |
2,18 |
4,78 |
|
Extra Management revenues/charges
incid. |
% |
4,62 |
3,31 |
35,19 |
29,96 |
|
Cash Flow |
Value |
132.469 |
121.101 |
131.033 |
165.166 |
|
Operating Profit |
Value |
72.450 |
101.527 |
135.425 |
225.594 |
|
Gross Operating Margin |
Value |
209.073 |
224.269 |
223.804 |
376.080 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
122,71 |
n.c. |
n.c. |
111,07 |
|
Debts to suppliers average term |
Days |
131,78 |
n.c. |
n.c. |
127,44 |
|
Average stock waiting period |
Days |
52,53 |
93,66 |
150,72 |
62,88 |
|
Rate of capital employed return (
Turnover ) |
Units |
1,24 |
1,68 |
1,08 |
1,10 |
|
Rate of stock return |
Units |
6,85 |
3,84 |
2,39 |
5,58 |
|
Labour cost incidence |
% |
15,40 |
13,52 |
16,19 |
18,94 |
|
Net financial revenues/ charges
incidence |
% |
-0,41 |
-0,84 |
-0,89 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
17,49 |
14,68 |
15,64 |
18,99 |
|
Short-term financing charges |
% |
0,64 |
1,81 |
1,21 |
2,55 |
|
Capital on hand |
% |
80,48 |
59,67 |
92,96 |
90,89 |
|
Sales pro employee |
Value |
210.636 |
240.063 |
200.374 |
199.007 |
|
Labour cost pro employee |
Value |
32.442 |
32.464 |
32.434 |
34.820 |
Credit
Opinion
On the basis of the above mentioned,
and the sales volume obtained, we deem that the maximum exposure for short and
medium term transactions ( 90 - 120 days ) could be of:
200.000
Eur.
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 1.964 significant companies.
The companies cash their credits on
an average of 111 dd.
The average duration of suppliers
debts is about 127 dd.
The sector's profitability is on an
average of 3,79%.
The labour cost affects the turnover
in the measure of 18,94%.
Goods are held in stock in a range
of 63 dd.
The difference between the sales
volume and the resources used to realize it is about 1,10.
The employees costs represent the
18,99% 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.65.68 |
|
|
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.