MIRA INFORM REPORT
|
Report No. : |
351505 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
GEO MARMI-CARRARA S.R.L. |
|
|
|
|
Registered Office : |
Viale D. Zaccagna, 6, 54033 – Carrara (MS) -IT- |
|
|
|
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Country : |
Italy |
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|
|
|
Financials (as on) : |
31.12.2014 |
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|
|
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Date of Incorporation : |
11.12.2000 |
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|
|
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Cutting and Carving of Stone and Marble |
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|
|
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No. of Employees : |
From 1 to 5 |
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 |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
GEO MARMI-CARRARA S.R.L.
Viale D.zaccagna, 6
54033 - Carrara (MS) -IT-
Summary
|
Fiscal Code |
: |
01022040453 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
11/12/2000 |
|
Equity |
: |
1.500.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Cutting and carving of stone and marble
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 01022040453 |
|
Chamber of Commerce no. : 106675 of Massa since 11/12/2000 |
|
V.A.T. Code : 01022040453 |
|
Establishment date |
: 28/11/2000 |
|
|
Start of Activities |
: 11/12/2000 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 12.000 |
|
|
Subscribed Capital |
: 12.000 |
|
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Paid up Capital |
: 12.000 |
|
Legal mail : |
GEOTRADINGSRL@OPEN.LEGALMAIL.IT |
Members
|
|
Vanelli |
Antonio |
|
|
Born in Carrara |
(MS) |
on 16/09/1964 |
- Fiscal Code : VNLNTN64P16B832D |
|
|
Residence: |
Grosseto |
, 1 |
- 54033 |
Carrara |
(MS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
30/09/2003 |
|
|
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.
|
|
Vanelli |
Antonio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Societa' Apuana Marmi S.r.l. In Sigla S.a.m. S.r.l. |
Carrara (MS) - IT - |
00297570459 |
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 |
|
Vanelli Antonio |
Carrara - IT - |
VNLNTN64P16B832D |
9.800 .Eur |
81,66 |
|
Vanelli Matteo |
VNLMTT84P24B832H |
1.100 .Eur |
9,16 |
|
|
Vanelli Laura |
VNLLRA93S66B832B |
1.100 .Eur |
9,16 |
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 |
|
Il Fiorino Holding S.r.l. |
Carrara - IT - |
01208870459 |
18.000 .Eur |
18,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
D.zaccagna |
, 6 |
- 54033 |
- Carrara |
(MS) |
- IT - |
|
Legal mail |
: GEOTRADINGSRL@OPEN.LEGALMAIL.IT |
|
Employees |
: 5 |
|
Fittings and Equipment for a value of 2.000 |
Eur |
|
Stocks for a value of 490.000 |
Eur |
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 2000
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it achieved profits (r.o.e. 23,72% on 2014) and with
an upward trend in turnover trend during the last financial year (+46,2% in
2014).
The return on Investment in the last financial year was positive
(12,97%) and in line with the sector's average.
The amount of the operating result for the year 2014 is of Eur. 498.676
with a 37,87% growth.
During the latest financial year the gross operating margin amounted to
Eur. 529.544 showing an upward trend if compared to 2013.
Company's financial status is balanced since indebtedness is not high
(1,76) but with an increase as against the previous accounting period.
It's shareholders funds amount to Eur. 1.298.796 , increasing by 31,1%
if compared to the financial year 2013.
Total debts (both short and M/L term) equals Eur. 2.479.206, while
during the financial year 2013 the amount was equal to Eur. 1.802.554.
Bank and suppliers credit recourse is limited, 78,91 gg. is payment
average period below the sector's average.
The management determines a good range of liquidity.
Due from customers average term is high and equal to 119,7 days. , as it
normally happens in the sector.
2014 financial year closed with a cash flow of Eur. 338.994
Subordinate employment cost is of Eur. 117.578, i.e. 2,34% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 2,18%.
The financial management has a limited economic impact, equal to -0,32%
on the sales.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.399.016 |
|
Profit (Loss) for the period |
308.126 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.692.869 |
|
Profit (Loss) for the period |
222.588 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.902.765 |
|
Profit (Loss) for the period |
213.681 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.428.573 |
|
Profit (Loss) for the period |
193.014 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.375.238 |
|
Profit (Loss) for the period |
74.463 |
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 |
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- 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 |
0,24 |
0,36 |
0,37 |
0,29 |
|
Elasticity Ratio |
Units |
0,76 |
0,64 |
0,63 |
0,69 |
|
Availability of stock |
Units |
0,13 |
0,13 |
0,06 |
0,23 |
|
Total Liquidity Ratio |
Units |
0,64 |
0,51 |
0,57 |
0,41 |
|
Quick Ratio |
Units |
0,05 |
0,08 |
0,01 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,76 |
1,59 |
1,31 |
1,78 |
|
Self Financing Ratio |
Units |
0,34 |
0,35 |
0,26 |
0,27 |
|
Capital protection Ratio |
Units |
0,75 |
0,76 |
0,71 |
0,69 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,02 |
1,01 |
0,23 |
|
Financing |
Units |
1,91 |
1,82 |
2,72 |
2,41 |
|
Permanent Indebtedness Ratio |
Units |
0,35 |
0,36 |
0,63 |
0,46 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,01 |
0,36 |
0,13 |
|
Net Financial Indebtedness Ratio |
Units |
0,73 |
0,77 |
1,37 |
0,98 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,47 |
1,00 |
1,72 |
1,51 |
|
Current ratio |
Units |
1,19 |
1,02 |
1,76 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,99 |
0,82 |
1,58 |
0,75 |
|
Structure's primary quotient |
Units |
1,43 |
0,97 |
0,72 |
0,83 |
|
Treasury's primary quotient |
Units |
0,08 |
0,13 |
0,04 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
296,07 |
288,27 |
379,20 |
366,48 |
|
Current Capital ( net ) |
Value |
459.379 |
32.469 |
798.410 |
233.017 |
|
RETURN |
|||||
|
Return on Sales |
% |
6,28 |
6,40 |
5,75 |
3,37 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
23,72 |
22,47 |
27,82 |
3,34 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
37,05 |
34,43 |
41,81 |
11,22 |
|
Return on Investment ( R.O.I. ) |
% |
12,97 |
12,67 |
12,02 |
4,00 |
|
Return/ Sales |
% |
9,24 |
9,79 |
8,97 |
4,88 |
|
Extra Management revenues/charges incid. |
% |
61,79 |
61,54 |
61,06 |
19,82 |
|
Cash Flow |
Value |
338.994 |
236.498 |
224.604 |
65.183 |
|
Operating Profit |
Value |
498.676 |
361.691 |
349.974 |
108.595 |
|
Gross Operating Margin |
Value |
529.544 |
375.601 |
360.897 |
167.146 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
119,70 |
103,63 |
139,59 |
131,41 |
|
Debts to suppliers average term |
Days |
78,91 |
79,77 |
110,49 |
111,40 |
|
Average stock waiting period |
Days |
32,56 |
35,52 |
17,11 |
96,30 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,40 |
1,29 |
1,34 |
0,84 |
|
Rate of stock return |
Units |
11,05 |
10,14 |
21,04 |
3,72 |
|
Labour cost incidence |
% |
2,18 |
2,96 |
1,95 |
14,94 |
|
Net financial revenues/ charges incidence |
% |
-0,32 |
-0,56 |
-0,93 |
-2,29 |
|
Labour cost on purchasing expenses |
% |
2,34 |
3,10 |
2,42 |
14,35 |
|
Short-term financing charges |
% |
0,71 |
1,16 |
1,74 |
3,61 |
|
Capital on hand |
% |
71,22 |
77,33 |
74,63 |
118,11 |
|
Sales pro employee |
Value |
1.799.672 |
1.230.956 |
1.951.382 |
209.056 |
|
Labour cost pro employee |
Value |
39.192 |
36.449 |
38.096 |
33.287 |
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 588 significant companies.
The companies cash their credits on an average of 131 dd.
The average duration of suppliers debts is about 111 dd.
The sector's profitability is on an average of 3,37%.
The labour cost affects the turnover in the measure of 14,94%.
Goods are held in stock in a range of 96 dd.
The difference between the sales volume and the resources used to realize
it is about 0,84.
The employees costs represent the 14,35% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 24.960 protested subjects are found; in the province they
count to 1.432.
The insolvency index for the region is 0,70, , while for the province it
is 0,72.
Total Bankrupt companies in the province : 1.056.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.67 |
|
Euro |
1 |
Rs.70.87 |
|
ITL |
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 : |
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.