MIRA INFORM REPORT
|
Report No. : |
351012 |
|
Report Date : |
23.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
BARUFFALDI S.P.A. |
|
|
|
|
Registered Office : |
Via Cassino D'alberi, 16, 20067 – Tribiano (MI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
30.12.1964 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of Metal Forming Machinery and Tool Machines. |
|
|
|
|
No. of Employees : |
From 150 to 175 |
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 & address
BARUFFALDI S.P.A.
Via Cassino D'alberi, 16
20067 – Tribiano (MI) -IT-
Summary
|
Fiscal Code |
: |
00757870159 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
30/12/1964 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 150 to 175 |
Activity
Manufacture of metal forming machinery and tool machines
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 00757870159 |
|
Foreign Trade Reg. no. : MI056677 since 19/12/1991 |
|
Foreign Trade Reg. no. : 4420 of Milano |
|
Chamber of Commerce no. : 682655 of Milano since 20/01/1965 |
|
Firms' Register : MI146-125962 of Milano since 19/02/1996 |
|
V.A.T. Code : 00757870159 |
|
Foundation date |
: 30/12/1964 |
|
|
Establishment date |
: 30/12/1964 |
|
|
Start of Activities |
: 30/12/1964 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 7.540.000 |
|
|
Subscribed Capital |
: 7.540.000 |
|
|
Paid up Capital |
: 6.790.000 |
|
Legal mail : |
AMMINISTRAZIONE@PEC.BARUFFALDI.IT |
Members
|
|
Boffelli |
Barbara |
|
|
Born in Bergamo |
(BG) |
on 15/07/1960 |
- Fiscal Code : BFFBBR60L55A794E |
|
|
Residence: |
Cassino D'alberi |
, 16 |
- 20067 |
Tribiano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Manager |
15/05/1987 |
||
|
Director |
22/05/2013 |
||
|
Managing Director |
22/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Boffelli |
Piercarlo |
|
|
Born in Milano |
(MI) |
on 28/09/1934 |
- Fiscal Code : BFFPCR34P28F205J |
|
|
Residence: |
Mascagni |
, 20 |
- 20100 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
General Director |
30/12/1964 |
||
|
Board Chairman |
22/05/2013 |
||
|
Director |
22/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Nucci |
Niccolo' |
|
|
Born in Miraflores |
( ) |
on 03/10/1960 |
- Fiscal Code : NCCNCL60R03Z611X |
|
|
Residence: |
Cassino D'alberi |
, 16 |
- 20067 |
Tribiano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Manager |
22/01/1993 |
||
|
General Director |
26/05/1994 |
||
|
Director |
22/05/2013 |
||
|
Managing Director |
22/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Boffelli |
Manuela |
|
|
Born in Bergamo |
(BG) |
on 07/02/1964 |
- Fiscal Code : BFFMNL64B47A794G |
|
|
Residence: |
Cassino D'alberi |
, 16 |
- 20067 |
Tribiano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
21/05/1996 |
||
|
Director |
22/05/2013 |
|
|
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.
|
|
Boffelli |
Barbara |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Co.me.b. S.r.l. |
Fiesco (CR) - IT - |
00697070191 |
Partner |
Withdrawn |
Registered |
|
Immobiliare Ce.co. Societa' Semplice |
Bergamo (BG) - IT - |
00658940168 |
Partner |
Active |
Registered |
|
|
Boffelli |
Piercarlo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Immobiliare Ce.co. Societa' Semplice |
Bergamo (BG) - IT - |
00658940168 |
Director |
Active |
Registered |
|
Immobiliare Ce.co. Societa' Semplice |
Bergamo (BG) - IT - |
00658940168 |
Partner |
Active |
Registered |
|
Curiel S.r.l. |
Milano (MI) - IT - |
12810580154 |
Sole Director |
Active |
Registered |
|
Immobiliare Industriale Baruffaldi S.r.l. |
Milano (MI) - IT - |
00988330155 |
Procurator |
Withdrawn |
Registered |
|
Immobiliare Industriale Baruffaldi S.r.l. |
Milano (MI) - IT - |
00988330155 |
Liquidator |
Withdrawn |
Registered |
|
Immobiliare Setri S.r.l. |
Milano (MI) - IT - |
05089940968 |
Sole Director |
Active |
Registered |
|
|
Nucci |
Niccolo' |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Co.fre.mo. Srl |
San Bassano (CR) - IT - |
11059130150 |
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.
Capital
Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Boffelli Barbara |
Tribiano - IT - |
BFFBBR60L55A794E |
2.899.616 .Eur |
38,45 |
|
Boffelli Piercarlo |
Milano - IT - |
BFFPCR34P28F205J |
1.889.944 .Eur |
25,06 |
|
Boffelli Manuela |
Tribiano - IT - |
BFFMNL64B47A794G |
2.249.258 .Eur |
29,82 |
|
Curiel S.r.l. |
Milano - IT - |
12810580154 |
500.000 .Eur |
6,63 |
|
BOFFELLI LAURA |
San Donato Milanese - IT - |
BFFLRA40A55F205K |
1.182 .Eur |
0,01 |
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 21/10/1998 |
|
Cassino D'alberi |
, 16 |
- 20067 |
- Tribiano |
(MI) |
- IT - |
|
PHONE |
: 02906090 |
|
PHONE |
: 0290609077 |
|
FAX |
: 0290609015 |
|
FAX |
: 02906926 |
|
Legal mail |
: AMMINISTRAZIONE@PEC.BARUFFALDI.IT |
|
- |
Branch |
(Factory) |
since 12/03/1981 |
|
Cristoforo Colombo |
, 4 |
- 20090 |
- Settala |
(MI) |
- IT - |
|
PHONE |
: 0295770409 |
|
Website |
: www.baruffaldi.it |
|
Employees |
: 156 |
|
Fittings and Equipment for a value of 5.330.000 |
Eur |
|
Stocks for a value of 12.790.000 |
Eur |
|
Furniture and fittings for a value of 320.000 |
Eur |
|
Vehicles for a value of 200.000 |
Eur |
Sales: direct or by agents with warehouse.
Sales are on an international scale.
The firm operates abroad as exporter..
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- trading companies |
|
- its own agents |
Usually the terms of sale are within 90-120 days.
Financial means used for sale: bank transfers and bank orders.
Company's purchase terms are within 90 and 120 days.
Main used payment modalities are by cash orders and bank transfers.
Export is mainly towards:
|
- Europa |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Splitting-up project and setting-up of new co |
|
|
Date |
Merging/Splitting-up Project-New Company: |
30/09/2005 |
|
|
Splitting-up and setting-up of a new company |
|
|
|
|
Ciro Menotti |
, 21 |
, 20129 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 05089940968 |
|
|
Date |
Splitting-up: |
27/12/2005 |
|
|
Project of merging by taking over of |
|
|
|
|
I Maggio |
, 3 |
, 26020 |
, San Bassano |
(CR) |
- IT - |
|
|
Fiscal Code: 11059130150 |
|
|
Date |
Merging/splitting-up project: |
09/06/2013 |
|
|
The firm absorbed by merging of |
|
|
|
|
I Maggio |
, 3 |
, 26020 |
, San Bassano |
(CR) |
- IT - |
|
|
Fiscal Code: 11059130150 |
|
|
Date |
: |
25/11/2013 |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
BANCA DI ROMA |
20097 |
San Donato
Milanese |
03002 |
33719 |
||
|
INTESA SANPAOLO SPA |
TRIBIANO |
VIA DELLA LIBERAZIONE, 54 |
20067 |
Tribiano (MI) |
3069 |
70560 |
Financial
and Economical Analysis
Company's starting of activities dates back to 1964.
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
Under the financial profile unstable results are noted. yet with a
positive result in the 2014 (r.o.e. 0,86%).
The return on Investment in the last financial year was positive (5%)
and in line with the sector's average.
The amount of the operating result is equal to Eur. 1.589.053 ,showing
stability in respect to the value of 2013.
A gross operating margine for a value of Eur. 3.007.217 was reached.
,with no change if compared to the year before.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,91) and falling as against the previous year (3,31).
It's shareholders funds amount to Eur. 6.349.827 , unchanged if compared
to 2013.
During the last financial year total debts volume reached Eur.
23.818.184 (Eur. 5.353.507 were m/l term ones) , a more or less stable value.
Both financial indebtedness as well as exsposure to suplliers are rated
as fairly high even in comparison with the sector's.
Liquid assets are good.
Due from customers average term is high and equal to 123,66 days. within
the average values of the sector.
During financial year 2014 the cash flow amounted to Eur. 1.422.697
Labour cost amounts to Eur. 8.346.389, with a 30,75% incidence on
production costs. , with a 29,12% incidence on turnover.
Financial charges have a high incidence (-3,94%) on turnover figures.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
28.664.922 |
|
Profit (Loss) for the period |
54.533 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.804.653 |
|
Profit (Loss) for the period |
-353.539 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
27.439.374 |
|
Profit (Loss) for the period |
-455.981 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
30.839.671 |
|
Profit (Loss) for the period |
7.201 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.810.142 |
|
Profit (Loss) for the period |
-154.635 |
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 |
0,25 |
0,27 |
0,17 |
|
Elasticity Ratio |
Units |
0,74 |
0,73 |
0,72 |
0,80 |
|
Availability of stock |
Units |
0,40 |
0,39 |
0,40 |
0,27 |
|
Total Liquidity Ratio |
Units |
0,34 |
0,35 |
0,33 |
0,50 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,91 |
3,31 |
3,76 |
3,14 |
|
Self Financing Ratio |
Units |
0,20 |
0,17 |
0,15 |
0,19 |
|
Capital protection Ratio |
Units |
-0,20 |
-0,16 |
-0,09 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,37 |
0,45 |
0,54 |
0,18 |
|
Financing |
Units |
3,75 |
4,52 |
5,50 |
3,79 |
|
Permanent Indebtedness Ratio |
Units |
0,42 |
0,43 |
0,45 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,22 |
0,25 |
0,30 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
2,02 |
2,57 |
3,25 |
0,77 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,81 |
1,71 |
1,66 |
1,75 |
|
Current ratio |
Units |
1,28 |
1,28 |
1,31 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,59 |
0,61 |
0,59 |
0,78 |
|
Structure's primary quotient |
Units |
0,87 |
0,69 |
0,55 |
1,04 |
|
Treasury's primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
500,29 |
579,39 |
680,71 |
518,96 |
|
Current Capital ( net ) |
Value |
5.123.355 |
5.407.162 |
5.999.204 |
406.983 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,96 |
3,74 |
3,19 |
3,69 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,86 |
-6,11 |
-8,87 |
5,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
7,72 |
2,34 |
-8,08 |
17,72 |
|
Return on Investment ( R.O.I. ) |
% |
5,00 |
4,17 |
1,34 |
3,94 |
|
Return/ Sales |
% |
5,54 |
4,69 |
1,71 |
4,48 |
|
Extra Management revenues/charges incid. |
% |
3,43 |
-25,32 |
-97,25 |
26,52 |
|
Cash Flow |
Value |
1.422.697 |
1.114.862 |
876.231 |
142.024 |
|
Operating Profit |
Value |
1.589.053 |
1.396.478 |
468.892 |
126.602 |
|
Gross Operating Margin |
Value |
3.007.217 |
2.864.879 |
1.801.104 |
241.461 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
123,66 |
127,96 |
135,46 |
116,01 |
|
Debts to suppliers average term |
Days |
174,08 |
168,21 |
179,25 |
127,79 |
|
Average stock waiting period |
Days |
160,57 |
156,82 |
181,88 |
96,89 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,90 |
0,89 |
0,78 |
1,03 |
|
Rate of stock return |
Units |
2,24 |
2,30 |
1,98 |
3,58 |
|
Labour cost incidence |
% |
29,12 |
28,45 |
28,09 |
21,20 |
|
Net financial revenues/ charges incidence |
% |
-3,94 |
-4,17 |
-4,60 |
-1,00 |
|
Labour cost on purchasing expenses |
% |
30,75 |
30,95 |
29,03 |
20,95 |
|
Short-term financing charges |
% |
4,75 |
4,76 |
4,48 |
2,70 |
|
Capital on hand |
% |
110,82 |
112,46 |
127,48 |
96,90 |
|
Sales pro employee |
Value |
110.249 |
112.470 |
114.330 |
191.520 |
|
Labour cost pro employee |
Value |
32.101 |
32.002 |
32.109 |
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
Statistically 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.66.09 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.