MIRA INFORM REPORT
|
Report No. : |
348589 |
|
Report Date : |
14.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITALCOAT S.R.L. |
|
|
|
|
Registered Office : |
Via Cannola Al Trivio, 28 80134 - Napoli (NA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
14.07.1986 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Treatment and coating of metals |
|
|
|
|
No. of Employee : |
from 51 to 70 |
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 : |
Good |
|
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
ITALCOAT S.R.L.
Via Cannola Al Trivio, 28
80134 - Napoli (NA) -IT-
Summary
|
Fiscal Code |
: |
06238000639 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
14/07/1986 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
75.000.000/100.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Treatment and coating of metals
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 06238000639 |
|
Foreign Trade Reg. no. : NA017700 since 30/09/1994 |
|
Foreign Trade Reg. no. : 17700 of Napoli since 30/09/1994 |
|
Chamber of Commerce no. : 138085 of Caserta |
|
Chamber of Commerce no. : 480676 of Napoli since 05/02/1991 |
|
Firms' Register : NA049-1991-557 of Napoli since 15/02/1996 |
|
V.A.T. Code : 06238000639 |
|
Tribunal Co. Register : 57791 of |
|
Foundation date |
: 07/01/1991 |
|
|
Establishment date |
: 07/01/1991 |
|
|
Start of Activities |
: 14/07/1986 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 364.000 |
|
|
Subscribed Capital |
: 364.000 |
|
|
Paid up Capital |
: 364.000 |
|
Legal mail : |
INFO@PEC.ITALCOAT.IT |
Members
|
|
Laminazione Sottile Soc.per Azioni. |
|
|
Residence: |
Cannole Al Trivio |
, 28 |
- 80141 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
Prejudicial Events found with cancellations* |
Legal
Mortgage - 01/07/2008. - 483.621 Euro. Event writing-off
|
|
GEST LINE S. P. A. |
|
|
No Protests registered |
|
|
Moschini |
Massimo |
|
|
Born in Napoli |
(NA) |
on 27/04/1954 |
- Fiscal Code : MSCMSM54D27F839M |
|
|
Residence: |
Monte Di Dio |
, 1/E |
- 80132 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2014 |
||
|
Board Chairman |
28/04/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Iorio |
Marco |
|
|
Born in Vico Equense |
(NA) |
on 22/05/1975 |
- Fiscal Code : RIOMRC75E22L845E |
|
|
Residence: |
Nottolini |
, 813 |
- 55100 |
Lucca |
(LU) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
03/07/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Ferone |
Antonello |
|
|
Born in Napoli |
(NA) |
on 20/09/1979 |
- Fiscal Code : FRNNNL79P20F839S |
|
|
Residence: |
Sette Re |
, 20/M |
- 80022 |
Arzano |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
24/06/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Moschini |
Federica |
|
|
Born in Napoli |
(NA) |
on 20/08/1985 |
- Fiscal Code : MSCFRC85M60F839X |
|
|
Residence: |
Alessandro Manzoni |
, 246 |
- 80123 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2014 |
|
|
Moschini |
Pietro |
|
|
Born in Napoli |
(NA) |
on 21/01/1966 |
- Fiscal Code : MSCPTR66A21F839D |
|
|
Residence: |
Posillipo |
, 56 |
- 80100 |
Napoli |
(NA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/04/2014 |
*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.
|
|
Moschini |
Massimo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Laminazione Sottile Soc.per Azioni. |
Napoli (NA) - IT - |
00289760639 |
Managing Director |
Active |
Registered |
|
Laminazione Sottile Soc.per Azioni. |
Napoli (NA) - IT - |
00289760639 |
Director |
Active |
Registered |
|
Laminazione Sottile Soc.per Azioni. |
Napoli (NA) - IT - |
00289760639 |
Board Chairman |
Active |
Registered |
|
Aerre Di Annamaria Rollin S.a.s. |
Napoli (NA) - IT - |
05052020632 |
Limited Partner |
Withdrawn |
Ceased |
|
Ips Industrial Packaging Solution S.r.l. |
Napoli (NA) - IT - |
08113611217 |
Director |
Active |
Registered |
|
Ips Industrial Packaging Solution S.r.l. |
Napoli (NA) - IT - |
08113611217 |
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 |
|
Laminazione Sottile Soc.per Azioni. |
Napoli - IT - |
00289760639 |
364.000 .Eur |
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 |
|
Ips Industrial Packaging Solution S.r.l. |
Napoli - IT - |
08113611217 |
10.000 .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 |
|
Cannola Al Trivio |
, 28 |
- 80100 |
- Napoli |
(NA) |
- IT - |
|
PHONE |
: 0823501111 |
|
FAX |
: 0823654650 |
|
Legal mail |
: INFO@PEC.ITALCOAT.IT |
|
- |
Branch |
(Factory) |
since 01/10/1992 |
|
Appia Km.192+358 Lato Sin. |
- 81052 |
- Pignataro Maggiore |
(CE) |
- IT - |
|
Employees |
: 54 |
|
Fittings and Equipment for a value of 4.920.000 |
Eur |
|
Stocks for a value of 6.570.000 |
Eur |
Historical
Information and/or Firm's Status
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
METALCOLOR S.R.L. |
Italcoat S.r.l. |
18/11/1993 |
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
Subject is active since 1986
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it achieved profits (r.o.e. 44,13% on 2014) but
without a significant increase in the turnover.
The operating result in 2014 was positive (18,99%) falling within the
field's average.
The amount of the operating result is equal to Eur. 7.347.049 with an
increase of 29,94% if the compared to the previous financial year.
The economic management produced a gross operating margin of Eur.
8.786.770 with a 25,06% increase as opposed to the preceding year.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (1,42) and decreasing as against 2013.
Subject can manage an equity capital funds for an amount of Eur.
12.289.281 on the same levels as the year before.
Total debts recorded amounted to Eur. 23.762.429 (Eur. 1.032.198 of
which were m/l term debts) , with no sensible variation.
Moderate recourse to bank credit while the exposure towards suppliers is
rather high even if it still falls within the sector's average.
It shows a good range of liquidity.
On average trade credits are collected in 69,56 days. , a better value
than the sector's average.
Eur. 6.113.504 is the value of cash flow during the year 2014
In the last financial year labour cost was of Eur. 2.894.161, with a
4,2% incidence on total costs of production. , whereas 3,85% is the incidence
on sales revenues.
The financial management is positive as incomes are higher than the
charges.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
75.251.963 |
|
Profit (Loss) for the period |
5.423.783 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
72.140.583 |
|
Profit (Loss) for the period |
3.793.002 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
70.683.311 |
|
Profit (Loss) for the period |
3.098.353 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.011.511 |
|
Profit (Loss) for the period |
3.250.734 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
66.153.768 |
|
Profit (Loss) for the period |
4.315.213 |
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 |
0,23 |
0,22 |
0,24 |
0,24 |
|
Elasticity Ratio |
Units |
0,77 |
0,78 |
0,76 |
0,73 |
|
Availability of stock |
Units |
0,17 |
0,18 |
0,18 |
0,13 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,60 |
0,58 |
0,54 |
|
Quick Ratio |
Units |
0,14 |
0,12 |
0,11 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,42 |
1,72 |
1,82 |
3,02 |
|
Self Financing Ratio |
Units |
0,32 |
0,29 |
0,28 |
0,19 |
|
Capital protection Ratio |
Units |
0,53 |
0,61 |
0,66 |
0,67 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,08 |
0,12 |
0,21 |
|
Financing |
Units |
1,93 |
2,28 |
2,45 |
3,82 |
|
Permanent Indebtedness Ratio |
Units |
0,35 |
0,34 |
0,35 |
0,37 |
|
M/L term Debts Ratio |
Units |
0,03 |
0,05 |
0,07 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,54 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,53 |
1,56 |
1,45 |
1,36 |
|
Current ratio |
Units |
1,31 |
1,27 |
1,24 |
1,15 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,02 |
0,97 |
0,94 |
0,90 |
|
Structure's primary quotient |
Units |
1,38 |
1,33 |
1,14 |
0,80 |
|
Treasury's primary quotient |
Units |
0,23 |
0,19 |
0,17 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
314,84 |
346,72 |
360,29 |
522,79 |
|
Current Capital ( net ) |
Value |
7.041.722 |
6.193.241 |
5.258.619 |
137.035 |
|
RETURN |
|||||
|
Return on Sales |
% |
8,12 |
6,47 |
7,09 |
4,19 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
44,13 |
35,56 |
30,76 |
6,82 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
66,63 |
53,80 |
46,55 |
21,82 |
|
Return on Investment ( R.O.I. ) |
% |
18,99 |
15,29 |
13,57 |
5,32 |
|
Return/ Sales |
% |
9,76 |
7,84 |
6,97 |
4,80 |
|
Extra Management revenues/charges incid. |
% |
73,82 |
67,09 |
62,92 |
24,34 |
|
Cash Flow |
Value |
6.113.504 |
4.665.153 |
5.009.027 |
122.584 |
|
Operating Profit |
Value |
7.347.049 |
5.653.759 |
4.924.012 |
134.039 |
|
Gross Operating Margin |
Value |
8.786.770 |
7.025.910 |
6.834.686 |
232.049 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
69,56 |
84,18 |
78,43 |
113,47 |
|
Debts to suppliers average term |
Days |
118,74 |
118,43 |
117,14 |
128,87 |
|
Average stock waiting period |
Days |
31,43 |
33,99 |
33,02 |
41,22 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,94 |
1,95 |
1,95 |
1,15 |
|
Rate of stock return |
Units |
11,45 |
10,59 |
10,90 |
8,63 |
|
Labour cost incidence |
% |
3,85 |
3,66 |
3,54 |
23,26 |
|
Net financial revenues/ charges incidence |
% |
0,29 |
0,13 |
-0,52 |
-1,36 |
|
Labour cost on purchasing expenses |
% |
4,20 |
3,96 |
3,76 |
23,52 |
|
Short-term financing charges |
% |
0,55 |
0,25 |
2,15 |
2,74 |
|
Capital on hand |
% |
51,42 |
51,26 |
51,34 |
87,13 |
|
Sales pro employee |
Value |
836.132 |
879.763 |
1.285.151 |
150.278 |
|
Labour cost pro employee |
Value |
32.157 |
32.166 |
45.455 |
33.017 |
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 3.083 significant companies.
The companies cash their credits on an average of 113 dd.
The average duration of suppliers debts is about 129 dd.
The sector's profitability is on an average of 4,19%.
The labour cost affects the turnover in the measure of 23,26%.
Goods are held in stock in a range of 41 dd.
The difference between the sales volume and the resources used to
realize it is about 1,15.
The employees costs represent the 23,52% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered remarkably risky.
In the region 80.616 protested subjects are found; in the province they
count to 41.815.
The insolvency index for the region is 1,40, , while for the province it
is 1,36.
Total Bankrupt companies in the province : 18.217.
Total Bankrupt companies in the region : 28.514.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SDA |
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.