|
Report No. : |
349181 |
|
Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIR SAFETY SYSTEM
S.P.A. |
|
|
|
|
Registered Office : |
Via Dei
Fornaciai, 9, 06081 – |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
19.12.2013 |
|
|
|
|
Legal Form : |
Joint Stock Company with Sole Shareholder |
|
|
|
|
Line of Business : |
Manufacture
of Workwear |
|
|
|
|
No. of Employees : |
From 150 to 175 |
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 : |
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 |
SIR SAFETY SYSTEM S.P.A.
Via Dei
Fornaciai, 9
06081 - Assisi (PG) -IT-
|
Fiscal
Code |
: |
03359340548 |
|
Legal
Form |
: |
Joint
stock company with sole shareholder |
|
start
of Activities |
: |
13/01/2014 |
|
Equity |
: |
Over
2.582.254 |
|
Turnover
Range |
: |
35.000.000/50.000.000
|
|
Number
of Employees |
: |
from
150 to 175 |
Manufacture
of Workwear
Legal
Form : Joint stock company with sole shareholder
|
Fiscal
Code : 03359340548 |
|
Chamber
of Commerce no. : 2031524 of Milano |
|
Chamber
of Commerce no. : 283620 of Perugia since 02/01/2014 |
|
V.A.T.
Code : 03359340548 |
|
Establishment
date |
:
19/12/2013 |
|
|
Start
of Activities |
:
13/01/2014 |
|
|
Legal
duration |
:
31/12/2100 |
|
|
Nominal
Capital |
:
3.500.000 |
|
|
Subscribed
Capital |
:
3.500.000 |
|
|
Paid
up Capital |
:
3.500.000 |
|
|
Legal
mail : |
AMM.NE@PEC.SIRSAFETY.COM |
|
|
Sir
Holding S.r.l. |
|
|
|
|
|
|
Residence: |
|
Via
Dei Fornaciai |
, 9 |
-
06081 |
Assisi |
(PG) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Partner |
|
|
|
|
|
No
Prejudicial events are reported |
|
|
No Protests
registered |
|
|
Sirci |
Gino |
|
|
|
Born
in Assisi |
(PG) |
on
23/05/1956 |
-
Fiscal Code : SRCGNI56E23A475E |
|
|
|
Residence: |
|
Ettore
Maiorana |
, 11 |
-
06083 |
Bastia
Umbra |
(PG) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
19/12/2013 |
|
|
|
Board
Chairman |
19/12/2013 |
|
|
|
Managing
Director |
19/12/2013 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No
Protests registered |
|
|
Sirci |
Francesco |
|
|
|
Born
in Assisi |
(PG) |
on
17/11/1962 |
-
Fiscal Code : SRCFNC62S17A475H |
|
|
|
Residence: |
|
Gemelli
Baldoni |
, 4 |
-
06083 |
Bastia
Umbra |
(PG) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
19/12/2013 |
|
|
*checkings
have been performed on a national scale.
In this
module are listed the companies in which members hold or have holded positions.
|
|
Sirci |
Gino |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Sir
Holding S.r.l. |
Assisi
(PG) - IT - |
01748360540 |
Chairman |
Withdrawn |
Registered |
|
Sir
Holding S.r.l. |
Assisi
(PG) - IT - |
01748360540 |
Managing
Director |
Active |
Registered |
|
Sir
Holding S.r.l. |
Assisi
(PG) - IT - |
01748360540 |
Director |
Active |
Registered |
|
Sir
Holding S.r.l. |
Assisi
(PG) - IT - |
01748360540 |
Partner |
Withdrawn |
Registered |
|
Sir
Holding S.r.l. |
Assisi
(PG) - IT - |
01748360540 |
Board
Chairman |
Active |
Registered |
|
Edizioni
Il Rubino Di Barbini Bruno S.a.s. - In Siglia Edizioni Il Rubino S.a.s |
Assisi
(PG) - IT - |
01719430546 |
Limited
Partner |
Active |
Registered |
|
Sir
Safety Umbria Volley Perugia Soc. Coop. Sportiva Dilettantist Ica A R.l. |
Bastia
Umbra (PG) - IT - |
02012060543 |
Director |
Active |
Registered |
|
Sir
Safety Umbria Volley Perugia Soc. Coop. Sportiva Dilettantist Ica A R.l. |
Bastia
Umbra (PG) - IT - |
02012060543 |
Board
Chairman |
Active |
Registered |
|
SIR INFORTUNISTICA
(SEZIONE INFORTUNISTICA REGIONALE) DI SIRCI GINO |
Assisi
(PG) - IT - |
SRCGNI56E23A475E |
Proprietor |
Withdrawn |
Registered |
|
Antincendi
Sir S.a.s. Di Sirci Gino E C.- In Liquidazione |
Assisi
(PG) - IT - |
02002970545 |
General
Partner |
Withdrawn |
Registered |
|
Antincendi
Sir S.a.s. Di Sirci Gino E C.- In Liquidazione |
Assisi
(PG) - IT - |
02002970545 |
Liquidator |
Withdrawn |
Registered |
|
Key
Business S.r.l. |
Perugia
(PG) - IT - |
02190600540 |
Director |
Withdrawn |
Registered |
|
Key
Business S.r.l. |
Perugia
(PG) - IT - |
02190600540 |
Assistant
board Chairman |
Withdrawn |
Registered |
|
Sir
Costruzioni S.r.l. - In Liquidazione |
Bastia
Umbra (PG) - IT - |
02681680548 |
Sole
Director |
Withdrawn |
Registered |
|
Sir Costruzioni
S.r.l. - In Liquidazione |
Bastia
Umbra (PG) - IT - |
02681680548 |
Liquidator |
Withdrawn |
Registered |
|
Servizi
Finanziari S.r.l. |
Perugia
(PG) - IT - |
03094020546 |
Sole
Director |
Withdrawn |
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.
Shareholders'
list as at date of data collection:
|
Firm's
Style / Name |
Seat /
Residence |
Fiscal
Code |
Owned
Shares |
%
Ownership |
|
Sir
Holding S.r.l. |
Assisi
- IT - |
01748360540 |
3.500.000
.Eur |
100,00 |
The
Company under review has no participations in other Companies.
In order
to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
|
|
|
|
|
|
Dei
Fornaciai |
, 9 |
-
06081 |
-
Assisi |
(PG) |
- IT - |
|
|
|
|
Legal
mail |
: AMM.NE@PEC.SIRSAFETY.COM |
|
- |
Branch |
(Sales
office) |
since
02/01/2014 |
|
|
|
|
|
|
Europa |
, 74 |
-
20090 |
-
Cusago |
(MI) |
- IT - |
|
|
|
|
Employees |
: 154 |
|
Fittings
and Equipment for a value of 390.000 |
Eur |
|
Stocks
for a value of 10.270.000 |
Eur |
Protests
checking on the subject firm has given a negative result.
Search
performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search
performed on a specialized data base.
None
reported, standing to the latest received edition of the Official Publications.
The company
has been recently established.
The
following analysis has been made on the basis of the b/s for the year 2014.
In 2014
the firm achieved a profit with a r.o.e. del 22,01%.
The
operating result is positive (8,77%). falling within the field's average.
It's
equal to Eur. 3.019.103 the amount of the operating result coming from the
financial management.
Relating
to G.O.M. , the value amounted to Eur. 3.593.665.
The
financial status of the company is fairly balanced with an indebtedness level
of 3,85
Subject's
equity capital amounted to Eur. 6.187.470.
Bank
borrowings' volume is slightly high but the recourse to suppliers' credit is
modest which is also lower than the sector average.
The
management determines a good range of liquidity.
Accounts
receivable average term is high (165,53 days). also in relation to the average
of the sector.
2014
closed with a cash flow amounting to 2014
In the
last financial year labour cost was of Eur. 4.956.980, with a 13,85% incidence
on total costs of production. , whereas the incidence on sales revenues is of
12,84%.
The
financial management is marked by a high incidence of financial charges in
relation to sales revenues (-1,68%).
|
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
38.606.742 |
|
Profit
(Loss) for the period |
1.361.822 |
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 |
|
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|
|
RATIOS |
Value
Type |
as at
31/12/2014 |
Sector
Average |
|
COMPOSITION
ON INVESTMENT |
|
|
|
|
Rigidity
Ratio |
Units |
0,12 |
0,14 |
|
Elasticity
Ratio |
Units |
0,87 |
0,84 |
|
Availability
of stock |
Units |
0,30 |
0,24 |
|
Total
Liquidity Ratio |
Units |
0,57 |
0,53 |
|
Quick
Ratio |
Units |
0,05 |
0,03 |
|
COMPOSITION
ON SOURCE |
|
|
|
|
Net
Short-term indebtedness |
Units |
3,85 |
3,78 |
|
Self Financing
Ratio |
Units |
0,18 |
0,17 |
|
Capital
protection Ratio |
Units |
0,21 |
0,66 |
|
Liabilities
consolidation quotient |
Units |
0,10 |
0,14 |
|
Financing |
Units |
4,50 |
4,55 |
|
Permanent
Indebtedness Ratio |
Units |
0,26 |
0,33 |
|
M/L term
Debts Ratio |
Units |
0,08 |
0,09 |
|
Net
Financial Indebtedness Ratio |
Units |
3,10 |
1,26 |
|
CORRELATION |
|
|
|
|
Fixed
assets ratio |
Units |
2,13 |
1,87 |
|
Current
ratio |
Units |
1,18 |
1,17 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,78 |
0,79 |
|
Structure's
primary quotient |
Units |
1,49 |
1,13 |
|
Treasury's
primary quotient |
Units |
0,06 |
0,04 |
|
Rate
of indebtedness ( Leverage ) |
% |
556,51 |
587,75 |
|
Current
Capital ( net ) |
Value |
4.562.903 |
209.248 |
|
RETURN |
|
|
|
|
Return
on Sales (R.O.S.) |
% |
5,02 |
2,26 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
22,01 |
3,48 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
38,20 |
12,19 |
|
Return
on Investment ( R.O.I. ) |
% |
8,77 |
3,83 |
|
Return/
Sales |
% |
7,82 |
3,45 |
|
Extra Management
revenues/charges incid. |
% |
45,11 |
20,46 |
|
Cash
Flow |
Value |
1.936.384 |
50.400 |
|
Operating
Profit |
Value |
3.019.103 |
68.610 |
|
Gross
Operating Margin |
Value |
3.593.665 |
124.742 |
|
MANAGEMENT |
|
|
|
|
Credits
to clients average term |
Days |
165,53 |
120,68 |
|
Debts
to suppliers average term |
Days |
51,68 |
115,81 |
|
Average
stock waiting period |
Days |
95,79 |
78,40 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,12 |
1,14 |
|
Rate
of stock return |
Units |
3,76 |
4,57 |
|
Labour
cost incidence |
% |
12,84 |
12,27 |
|
Net
financial revenues/charges incidence |
% |
-1,68 |
-1,84 |
|
Labour
cost on purchasing expenses |
% |
13,85 |
12,16 |
|
Short-term
financing charges |
% |
2,44 |
3,35 |
|
Capital
on hand |
% |
89,19 |
87,41 |
|
Sales
pro employee |
Value |
250.693 |
245.343 |
|
Labour
cost pro employee |
Value |
32.188 |
32.046 |
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.
|
Population
living in the province |
: |
632.420 |
|
Population
living in the region |
: |
858.938 |
|
Number
of families in the region |
: |
331.385 |
Monthly
family expences average in the region (in Eur..) :
|
- per
food products |
: |
508 |
|
- per
non food products |
: |
1.747 |
|
- per
energy consume |
: |
125 |
The values
are calculated on a base of 864 significant companies.
The
companies cash their credits on an average of 121 dd.
The
average duration of suppliers debts is about 116 dd.
The
sector's profitability is on an average of 2,26%.
The
labour cost affects the turnover in the measure of 12,27%.
Goods
are held in stock in a range of 78 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,14.
The
employees costs represent the 12,16% of the production costs.
Statistically
the trade activity passes through serious crises.
The area
is statistically considered remarkably risky.
In the
region 7.230 protested subjects are found; in the province they count to 5.173.
The
insolvency index for the region is 0,85, , while for the province it is 0,83.
Total
Bankrupt companies in the province : 2.808.
Total
Bankrupt companies in the region : 3.572.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.