MIRA INFORM REPORT
|
Report No. : |
349221 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOVACCIAI S.P.A. |
|
|
|
|
Registered Office : |
Via Giuseppe Verdi, 26 28060 - San Pietro Mosezzo (NO) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.10.1987 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
Metallurgy Foundries |
|
|
|
|
No. of Employee : |
From 71 to 90 |
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 – 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
|
NOVACCIAI S.P.A. |
|
Via Giuseppe Verdi, 26 28060 - San Pietro Mosezzo (NO) -IT- |
Summary
|
Fiscal Code |
: |
07535870153 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
28/10/1987 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 71 to 90 |
Activity
Metallurgy Foundries
Legal Data
Legal Form : Joint stock company with sole
shareholder
|
Fiscal Code : 07535870153 |
|
Foreign Trade Reg. no. : 2771 of Novara
since 04/12/1991 |
|
Chamber of Commerce no. : 159506 of Novara
since 21/06/1988 |
|
Firms' Register : NO106-10866 of Novara since
19/02/1996 |
|
V.A.T. Code : 01229090038 |
|
Foundation date |
: 07/09/1984 |
|
|
Establishment date |
: 07/09/1984 |
|
|
Start of Activities |
: 28/10/1987 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 5.500.000 |
|
|
Subscribed Capital |
: 5.500.000 |
|
|
Paid up Capital |
: 5.500.000 |
|
Legal mail : |
NOVACCIAI@LEGALMAIL.IT |
Members
|
Rosti |
Mauro |
|
Born in Milano |
(MI) |
on 24/04/1956 |
- Fiscal Code : RSTMRA56D24F205Q |
|
Residence: |
Archimede |
, 129 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
04/09/2006 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Gallesi |
Stefano |
|
Born in Novara |
(NO) |
on 17/04/1975 |
- Fiscal Code : GLLSFN75D17F952B |
|
Residence: |
Xxiii Marzo |
, 209/A |
- 28100 |
Novara |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
04/09/2006 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Battistini |
Pablo Ignacio |
|
Born in Mendoza |
( ) |
on 12/01/1975 |
- Fiscal Code : BTTPLG75A12Z600Y |
|
Residence: |
Via Tadini |
, 2 |
- 28100 |
Novara |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
14/04/2014 |
||
|
Managing Director |
14/04/2014 |
||
|
Board Chairman |
14/04/2014 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Crivelli |
Stefano |
|
Born in Busto Arsizio |
(VA) |
on 27/10/1966 |
- Fiscal Code : CRVSFN66R27B300D |
|
Residence: |
Europa |
, 8 |
- 28010 |
Caltignaga |
(NO) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
21/04/2009 |
||
|
Director |
14/04/2014 |
||
|
Managing Director |
14/04/2014 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Olarra Aceros Inoxidables S.a. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
No Protests registered |
|
Olarra Aceros Inoxidables 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.
|
Battistini |
Pablo Ignacio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Cogne Acciai Speciali S.p.a. In Forma Abbreviata:
C.a.s. S.p.a. O Cogne S.p.a |
Aosta (AO) - IT - |
02187360967 |
Attorney with special power |
Withdrawn |
Registered |
|
Rodacciai S.p.a. |
Milano (MI) - IT - |
09036850155 |
Director |
Active |
Registered |
|
Rodacciai S.p.a. |
Milano (MI) - IT - |
09036850155 |
Managing Director |
Active |
Registered |
|
Approda S.r.l. |
Bressanone (BZ) - IT - |
02810650214 |
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.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Olarra Aceros Inoxidables S.a. |
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 |
|
Sideuro S.R.L. |
San Pietro Mosezzo - IT - |
01675370033 |
45.900 .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 |
since 07/09/1984 |
|
Giuseppe Verdi |
, 26 |
- 28060 |
- San Pietro Mosezzo |
(NO) |
- IT - |
|
Legal mail |
: NOVACCIAI@LEGALMAIL.IT |
|
- |
Branch |
(Factory) |
since 01/09/2005 |
|
Leoperadi |
, 31/33 |
- 28060 |
- San Pietro Mosezzo |
(NO) |
- IT - |
|
Employees |
: 73 |
|
Fittings and Equipment for a value of
590.000 |
Eur |
|
Stocks for a value of 9.830.000 |
Eur |
The firm operates abroad as importer /
exporter..
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
Export is mainly towards:
|
- Austria |
|
- Belgium |
|
- Great Britain |
|
- Hungary |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
The firm absorved |
|
Sideuro S.R.L. |
|
BIANDRATE |
, 31 |
, 28060 |
, San Pietro Mosezzo |
(NO) |
- IT - |
|
Fiscal Code: 01675370033 |
|
Date |
: |
02/09/2003 |
|
Project of merging by taking over of |
|
Sideuro S.R.L. |
|
BIANDRATE |
, 31 |
, 28060 |
, San Pietro Mosezzo |
(NO) |
- IT - |
|
Fiscal Code: 01675370033 |
|
Date |
Merging/splitting-up project: |
28/04/2003 |
|
The firm absorbed by merging of |
|
Sideuro S.R.L. |
|
BIANDRATE |
, 31 |
, 28060 |
, San Pietro Mosezzo |
(NO) |
- IT - |
|
Fiscal Code: 01675370033 |
|
Date |
: |
02/09/2003 |
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 1987.
Balance sheets for the years 2012, 2013 and
2014 were analyzed.
Under the financial profile unstable results
are noted. with a profit (r.o.e. 12,21%) in the last financial year
The operating result was positive in the last
financial year (9,04%) and in line with the sector's average.
The amount of the operating result for the
year 2014 is of Eur. 1.878.435 showing an upward trend more then 100% compared
to the previous financial year.
The gross operating margin of the latest
financial year is of Eur. 2.207.679 showing a more then 100% growth.
The financial status of the company is fairly
balanced with an indebtedness level of 1 with an improving trend as on the
decrease.
With regard to equity capital, an amount of
Eur. 8.996.531 is registered. , unchanged if compared to 2013.
Total indebtedness totalled Eur. 11.558.622,
, with no sensible variation.
The company does not exceed in bank credits;
payments average period is instead slightly high (109,48 gg.) but lined up with
the field's average.
The available funds are good.
As to due from customers, the average terms
are 67,39 days. , shorter than the sector's average.
2014 financial year closed with a cash flow
of Eur. 1.428.159
Labour cost amounts to Eur. 3.577.738, with a
11,93% incidence on production costs. and a 10,91% incidence on sales volumes.
The financial management has a limited
economic impact, equal to -0,49% on the sales.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
32.783.337 |
|
Profit (Loss) for the period |
1.098.915 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
32.594.175 |
|
Profit (Loss) for the period |
-27.903 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
40.031.219 |
|
Profit (Loss) for the period |
291.910 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
45.722.954 |
|
Profit (Loss) for the period |
1.114.045 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
35.654.669 |
|
Profit (Loss) for the period |
83.210 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,07 |
0,06 |
0,04 |
0,35 |
|
Elasticity Ratio |
Units |
0,93 |
0,93 |
0,95 |
0,64 |
|
Availability of stock |
Units |
0,47 |
0,50 |
0,42 |
0,15 |
|
Total Liquidity Ratio |
Units |
0,46 |
0,43 |
0,53 |
0,43 |
|
Quick Ratio |
Units |
0,12 |
0,08 |
0,08 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,00 |
1,46 |
1,24 |
1,86 |
|
Self Financing Ratio |
Units |
0,43 |
0,37 |
0,40 |
0,27 |
|
Capital protection Ratio |
Units |
0,27 |
0,31 |
0,27 |
0,75 |
|
Liabilities consolidation quotient |
Units |
0,02 |
0,02 |
0,03 |
0,22 |
|
Financing |
Units |
1,28 |
1,66 |
1,45 |
2,35 |
|
Permanent Indebtedness Ratio |
Units |
0,44 |
0,38 |
0,42 |
0,43 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,02 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,03 |
0,23 |
0,34 |
0,91 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
6,68 |
5,99 |
10,82 |
1,11 |
|
Current ratio |
Units |
1,67 |
1,51 |
1,64 |
1,06 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,82 |
0,70 |
0,92 |
0,77 |
|
Structure's primary quotient |
Units |
6,53 |
5,84 |
10,31 |
0,83 |
|
Treasury's primary quotient |
Units |
0,22 |
0,12 |
0,13 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
230,86 |
269,45 |
248,63 |
360,10 |
|
Current Capital ( net ) |
Value |
7.773.003 |
6.744.068 |
7.286.024 |
408.634 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,36 |
0,86 |
1,50 |
3,40 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
12,21 |
-0,35 |
3,68 |
2,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
19,17 |
1,70 |
7,74 |
8,08 |
|
Return on Investment ( R.O.I. ) |
% |
9,04 |
1,46 |
4,79 |
3,84 |
|
Return/ Sales |
% |
5,73 |
0,95 |
2,36 |
2,98 |
|
Extra Management revenues/charges incid. |
% |
58,50 |
-8,99 |
30,95 |
25,99 |
|
Cash Flow |
Value |
1.428.159 |
279.486 |
599.928 |
328.591 |
|
Operating Profit |
Value |
1.878.435 |
310.430 |
943.239 |
295.822 |
|
Gross Operating Margin |
Value |
2.207.679 |
667.819 |
1.251.257 |
749.380 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
67,39 |
68,08 |
67,36 |
98,28 |
|
Debts to suppliers average term |
Days |
109,48 |
105,60 |
71,67 |
123,62 |
|
Average stock waiting period |
Days |
107,89 |
118,19 |
74,08 |
49,03 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,58 |
1,53 |
2,03 |
1,10 |
|
Rate of stock return |
Units |
3,34 |
3,05 |
4,86 |
7,33 |
|
Labour cost incidence |
% |
10,91 |
10,56 |
8,40 |
17,85 |
|
Net financial revenues/ charges incidence |
% |
-0,49 |
-0,51 |
-0,79 |
-1,52 |
|
Labour cost on purchasing expenses |
% |
11,93 |
10,60 |
8,72 |
17,84 |
|
Short-term financing charges |
% |
1,41 |
1,38 |
2,95 |
3,12 |
|
Capital on hand |
% |
63,35 |
65,29 |
49,23 |
90,42 |
|
Sales pro employee |
Value |
295.345 |
304.618 |
381.249 |
223.268 |
|
Labour cost pro employee |
Value |
32.231 |
32.181 |
32.017 |
40.069 |
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 |
: |
|
353.743Monthly 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 480
significant companies.
The companies cash their credits on an
average of 98 dd.
The average duration of suppliers debts is about
124 dd.
The sector's profitability is on an average
of 3,40%.
The labour cost affects the turnover in the
measure of 17,85%.
Goods are held in stock in a range of 49 dd.
The difference between the sales volume and
the resources used to realize it is about 1,10.
The employees costs represent the 17,84% 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 27.019 protested subjects are
found; in the province they count to 2.505.
The insolvency index for the region is 0,63,
, while for the province it is 0,71.
Total Bankrupt companies in the province :
1.102.
Total Bankrupt companies in the region :
14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
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.