MIRA INFORM REPORT
|
Report No. : |
352009 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALPES S.R.L. |
|
|
|
|
Registered Office : |
Via Al Mognago, 21 23848 - Oggiono (LC) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.08.1961 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of metal wire products. |
|
|
|
|
No. of Employee : |
From 16 to 25 |
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
|
ALPES S.R.L. |
|
Via Al Mognago, 21 23848 - Oggiono (LC)
-IT- |
Summary
|
Fiscal Code |
: |
00295290134 |
|
Legal Form |
: |
Sole-Member Limited Liability Company |
|
start of Activities |
: |
24/08/1961 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Manufacture of metal wire products
Legal Data
Legal Form : Sole-Member Limited Liability
Company
|
Fiscal Code : 00295290134 |
|
Chamber of Commerce no. : 92676 of Como
since 24/08/1961 |
|
Chamber of Commerce no. : 92676 of Lecco
since 24/08/1961 |
|
V.A.T. Code : 00295290134 |
|
Tribunal Co. Register : 3361 of |
|
Foundation date |
: 24/08/1961 |
|
|
Establishment date |
: 24/12/1973 |
|
|
Start of Activities |
: 24/08/1961 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 99.000 |
|
|
Subscribed Capital |
: 99.000 |
|
|
Paid up Capital |
: 99.000 |
|
Legal mail : |
ALPES@PEC.ALPESONLINE.IT |
Members
|
Spreafico |
Alberto |
|
Born in Oggiono |
(CO) |
on 17/09/1937 |
- Fiscal Code : SPRLRT37P17G009G |
|
Residence: |
Mognago |
, 12 |
- 23848 |
Oggiono |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/09/1997 |
||
|
Board Chairman |
20/09/1997 |
||
|
Managing Director |
28/09/2007 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Immobiliare Mognago S.r.l. |
|
: |
Manzoni |
, 7 |
- 23900 |
Lecco |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Spreafico |
Marco Piero |
|
Born in Lecco |
(CO) |
on 13/07/1966 |
- Fiscal Code : SPRMCP66L13E507E |
|
Residence: |
Al Mognago |
, 12 |
- 23848 |
Oggiono |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/09/1997 |
||
|
Assistant board Chairman |
20/09/1997 |
||
|
Managing Director |
28/09/2007 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Spreafico |
Matteo Enrico |
|
Born in Oggiono |
(CO) |
on 20/11/1970 |
- Fiscal Code : SPRMTN70S20G009E |
|
Residence: |
Della Boggia |
, 43 |
- 23848 |
Ello |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
20/09/1997 |
||
|
Managing Director |
28/09/2007 |
|
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.
|
Spreafico |
Alberto |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Immobiliare Mognago S.r.l. |
Lecco (LC) - IT - |
00723190138 |
Sole Director |
Active |
Registered |
|
Spreafico |
Marco Piero |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Nt S.r.l. |
Lecco (LC) - IT - |
03472660137 |
Director |
Active |
Registered |
|
Spreafico |
Matteo Enrico |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Nt S.r.l. |
Lecco (LC) - IT - |
03472660137 |
Director |
Active |
Registered |
|
Nt S.r.l. |
Lecco (LC) - IT - |
03472660137 |
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 |
|
Immobiliare Mognago S.r.l. |
Lecco - IT - |
00723190138 |
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 |
|
Al Mognago |
, 21 |
- 22048 |
- Oggiono |
(LC) |
- IT - |
|
Total Surface: 280 Sq.mt. |
|
PHONE |
: 034156298 |
|
Legal mail |
: ALPES@PEC.ALPESONLINE.IT |
|
- |
Branch |
(Store) |
since 01/02/2014 |
|
Al Mognago |
, 6 |
- 22048 |
- Oggiono |
(LC) |
- IT - |
|
Employees |
: 25 |
|
Fittings and Equipment for a value of
1.680.000 |
Eur |
|
Stocks for a value of 720.000 |
Eur |
|
Vehicles for a value of 14.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- direct orders to foreign companies |
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Import comes generally from the following
nations:
|
- Austria |
Export is mainly towards:
|
- Ireland |
|
- Italy |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
Project of splitting-up and tranfer into |
|
ALMAS S.R.L. |
|
, Via Mognago 21 - Oggiono (lc) |
- IT - |
|
Date |
Merging/splitting-up project: |
22/09/2008 |
|
Splitting-up and setting-up of new Co.
Resol. |
|
ALPES S.R.L. |
|
, Oggiono |
- IT - |
|
Date |
Splitting-up: |
01/10/2008 |
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 1961
Balance sheets for the years 2012, 2013 and
2014 were analyzed.
During the last years, it recorded positive
net results (r.o.e. 23,85% in 2014) with a good increase in turnover (+16,37%
in 2014 compared to 2013 and +17,02% in 2013 compared to 2012).
The operating result in 2014 was positive
(16,18%) falling within the field's average.
An operating result of Eur. 1.732.320 has
been registered. increasing if compared to the yeart 2013.
The gross operating margin of the latest
financial year is of Eur. 2.498.263 showing an upward trend if compared to
2013.
The financial status of the company is fairly
balanced with an indebtedness level of 1,08 but with an increase as against the
previous accounting period.
The equity capital is equal to Eur. 4.545.975
on stable levels.
Eur. 5.813.723 is the amount of total debts,
both commercial and of different nature, with a growth equal to 89,77%.
Moderate recourse to bank credit while the
exposure towards suppliers is rather high but lined up with the field's
average.
It shows a good range of liquidity.
Trade credits average terms are slow, on
average 127,78 days. and higher than the average of the sector.
The financial management generated a cash
flow of Eur. 1.850.343.
In the last financial year labour cost was of
Eur. 830.402, with a 12,44% incidence on total costs of production. , whereas
the incidence of such costs on sales revenues is equal to 10,2%.
Limited financial charges in relation to
sales volume.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.142.876 |
|
Profit (Loss) for the period |
1.084.400 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.997.269 |
|
Profit (Loss) for the period |
536.272 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.979.047 |
|
Profit (Loss) for the period |
419.967 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.011.836 |
|
Profit (Loss) for the period |
269.739 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.873.008 |
|
Profit (Loss) for the period |
82.749 |
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 |
0,37 |
0,45 |
0,38 |
0,28 |
|
Elasticity Ratio |
Units |
0,62 |
0,55 |
0,62 |
0,69 |
|
Availability of stock |
Units |
0,07 |
0,06 |
0,18 |
0,18 |
|
Total Liquidity Ratio |
Units |
0,56 |
0,49 |
0,44 |
0,47 |
|
Quick Ratio |
Units |
0,09 |
0,14 |
0,09 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,08 |
0,38 |
0,69 |
2,32 |
|
Self Financing Ratio |
Units |
0,42 |
0,59 |
0,50 |
0,23 |
|
Capital protection Ratio |
Units |
0,74 |
0,87 |
0,86 |
0,74 |
|
Liabilities consolidation quotient |
Units |
0,06 |
0,13 |
0,16 |
0,24 |
|
Financing |
Units |
1,28 |
0,63 |
0,93 |
2,86 |
|
Permanent Indebtedness Ratio |
Units |
0,46 |
0,64 |
0,57 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,03 |
0,05 |
0,07 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,70 |
n.c. |
n.c. |
0,91 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,23 |
1,43 |
1,49 |
1,37 |
|
Current ratio |
Units |
1,15 |
1,51 |
1,42 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,03 |
1,34 |
1,01 |
0,84 |
|
Structure's primary quotient |
Units |
1,14 |
1,32 |
1,31 |
0,86 |
|
Treasury's primary quotient |
Units |
0,16 |
0,39 |
0,21 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
235,54 |
169,74 |
201,41 |
422,49 |
|
Current Capital ( net ) |
Value |
878.138 |
1.528.830 |
1.326.175 |
281.462 |
|
RETURN |
|||||
|
Return on Sales |
% |
22,72 |
15,92 |
15,52 |
3,68 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
23,85 |
11,03 |
11,54 |
3,84 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
36,59 |
17,30 |
17,71 |
12,87 |
|
Return on Investment ( R.O.I. ) |
% |
16,18 |
10,71 |
9,04 |
4,59 |
|
Return/ Sales |
% |
21,27 |
12,63 |
11,08 |
4,38 |
|
Extra Management revenues/charges incid. |
% |
62,60 |
60,70 |
63,40 |
22,35 |
|
Cash Flow |
Value |
1.850.343 |
1.113.676 |
927.668 |
131.799 |
|
Operating Profit |
Value |
1.732.320 |
883.423 |
662.408 |
134.410 |
|
Gross Operating Margin |
Value |
2.498.263 |
1.460.827 |
1.170.109 |
257.621 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
127,78 |
n.c. |
n.c. |
106,38 |
|
Debts to suppliers average term |
Days |
104,09 |
n.c. |
n.c. |
123,44 |
|
Average stock waiting period |
Days |
31,77 |
26,70 |
78,21 |
62,20 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,76 |
0,85 |
0,82 |
1,07 |
|
Rate of stock return |
Units |
11,33 |
13,48 |
4,60 |
5,77 |
|
Labour cost incidence |
% |
10,20 |
10,93 |
11,46 |
17,51 |
|
Net financial revenues/ charges incidence |
% |
-0,88 |
-0,61 |
-0,96 |
-1,55 |
|
Labour cost on purchasing expenses |
% |
12,44 |
14,12 |
12,38 |
17,84 |
|
Short-term financing charges |
% |
1,31 |
1,57 |
1,81 |
3,12 |
|
Capital on hand |
% |
131,49 |
117,94 |
122,61 |
93,68 |
|
Sales pro employee |
Value |
325.715 |
304.229 |
284.716 |
193.450 |
|
Labour cost pro employee |
Value |
33.216 |
33.250 |
32.617 |
33.229 |
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 |
: |
|
322.150Monthly 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 1.399
significant companies.
The companies cash their credits on an
average of 106 dd.
The average duration of suppliers debts is
about 123 dd.
The sector's profitability is on an average
of 3,68%.
The labour cost affects the turnover in the
measure of 17,51%.
Goods are held in stock in a range of 62 dd.
The difference between the sales volume and
the resources used to realize it is about 1,07.
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 50.886 protested subjects are
found; in the province they count to 1.666.
The insolvency index for the region is 0,55,
, while for the province it is 0,52.
Total Bankrupt companies in the province :
940.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
|
EUR |
1 |
Rs.70.77 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.