|
Report No. : |
344032 |
|
Report Date : |
13.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOART E WIRE S.R.L. |
|
|
|
|
Registered Office : |
Via Astico, 40, 36030 - Fara Vicentino, (VI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.11.2005 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Subject is manufacture of interchangeable parts for machne tools |
|
|
|
|
No. of Employee : |
from 91 to 110 |
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 : |
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 |
BOART E WIRE S.R.L.
Via Astico, 40,
36030 - Fara Vicentino, (VI), - IT -
|
Fiscal Code |
: |
03273840243 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
22/11/2005 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 91 to 110 |
Manufacture of interchangeable parts for machne tools
Legal Form : Limited liability company
|
Fiscal Code : 03273840243 |
|
Foreign Trade Reg. no. : VI056437 since 12/02/2007 |
|
Chamber of Commerce no. : 312363 of Vicenza since 05/12/2005 |
|
V.A.T. Code : 03273840243 |
|
Establishment date |
: 22/11/2005 |
|
Start of Activities |
: 22/11/2005 |
|
Legal duration |
: 31/12/2050 |
|
Nominal Capital |
: 50.000 |
|
Subscribed Capital |
: 50.000 |
|
Paid up Capital |
: 50.000 |
|
Legal mail : |
BOARTANDWIRESRL@LEGALMAIL.IT |
|
Job Finance Development- Group S.p.a. |
|
Residence: |
Della Concordia |
, 1 |
- 36024 |
Nanto |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Toncelli |
Dario |
|
Born in Bassano del Grappa |
(VI) |
on 10/08/1960 |
- Fiscal Code : TNCDRA60M10A703Y |
|
Residence: |
San Pancrazio |
, 1 |
- 36061 |
Bassano del Grappa |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/05/2014 |
|
Iseppi |
Massimo |
|
Born in Vicenza |
(VI) |
on 04/10/1968 |
- Fiscal Code : SPPMSM68R04L840L |
|
Residence: |
Don Paolo Zolin |
, 1 |
- 36042 |
Breganze |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
15/05/2014 |
||
|
Director |
15/05/2014 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Ruaro |
Carlo |
|
Born in Thiene |
(VI) |
on 18/10/1974 |
- Fiscal Code : RRUCRL74R18L157O |
|
Residence: |
Citta' Di Heves |
, 23 |
- 36042 |
Breganze |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/05/2014 |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
Iseppi |
Massimo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Job Finance Development- Group S.p.a. |
Nanto (VI) - IT - |
02228280240 |
Director |
Active |
Registered |
|
Job Finance Development- Group S.p.a. |
Nanto (VI) - IT - |
02228280240 |
Board Chairman |
Active |
Registered |
|
Iseppi Massimo |
Castegnero (VI) - IT - |
SPPMSM68R04L840L |
Proprietor |
Active |
Registered |
|
Emmeesse Immobiliare S.r.l. |
Dueville (VI) - IT - |
03079670240 |
Sole Director |
Withdrawn |
Registered |
|
Giu.ma.r. Srl |
Sandrigo (VI) - IT - |
03373880248 |
Director |
Active |
Registered |
|
Pria Costruzioni S.r.l. |
Zane' (VI) - IT - |
03553620240 |
Sole Director |
Active |
Registered |
|
S.i.l.a. Servizi Integrati Logistica Autotrasporto S.r.l. |
Nanto (VI) - IT - |
03154780245 |
Director |
Active |
Registered |
|
S.i.l.a. Servizi Integrati Logistica Autotrasporto S.r.l. |
Nanto (VI) - IT - |
03154780245 |
Board Chairman |
Active |
Registered |
|
Lode S.r.l. |
Nanto (VI) - IT - |
03271660247 |
Director |
Active |
Registered |
|
Lode S.r.l. |
Nanto (VI) - IT - |
03271660247 |
Board Chairman |
Withdrawn |
Registered |
|
Sun Victory Srl |
Vittoria (RG) - IT - |
01459270888 |
Director |
Withdrawn |
Registered |
|
Sun Victory Srl |
Vittoria (RG) - IT - |
01459270888 |
Sole Director |
Active |
Registered |
|
Sun Victory Srl |
Vittoria (RG) - IT - |
01459270888 |
Board Chairman |
Withdrawn |
Registered |
|
Galvani Immobiliare S.r.l. |
Sandrigo (VI) - IT - |
03312480241 |
Director |
Withdrawn |
Registered |
|
Epta S.r.l. |
Sandrigo (VI) - IT - |
03341270241 |
Sole Director |
Active |
Registered |
|
Bew Holding S.r.l. |
Fara Vicentino (VI) - IT - |
03771140245 |
Sole Director |
Withdrawn |
Registered |
|
C.l.i. Holding S.r.l. |
Sandrigo (VI) - IT - |
03816980241 |
Director |
Active |
Registered |
|
C.l.i. Holding S.r.l. |
Sandrigo (VI) - IT - |
03816980241 |
Board Chairman |
Active |
Registered |
|
Job Finance Development Service S.r.l. |
Monticello Conte Otto (VI) - IT - |
03873380244 |
Sole 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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Breton S.p.a. |
Castello di Godego - IT - |
01880270267 |
4.999 .Eur |
9,99 |
|
Job Finance Development- Group S.p.a. |
Nanto - IT - |
02228280240 |
45.000 .Eur |
90,00 |
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 |
|
Astico |
, 40 |
- 36030 |
- Fara Vicentino |
(VI) |
- IT - |
|
Legal mail |
: BOARTANDWIRESRL@LEGALMAIL.IT |
|
Employees |
: 110 |
|
Fittings and Equipment for a value of 1.210.000 |
Eur |
|
Stocks for a value of 2.760.000 |
Eur |
CEASINGS/INCORPORATIONS/MERGES:
|
Project of merging by taking over of |
|
Bew Holding S.r.l. |
|
Astico |
, 50 |
, 36030 |
, Fara Vicentino |
(VI) |
- IT - |
|
Fiscal Code: 03771140245 |
|
Date |
Merging/splitting-up project: |
08/10/2013 |
|
The firm absorbed by merging of |
|
Bew Holding S.r.l. |
|
Astico |
, 50 |
, 36030 |
, Fara Vicentino |
(VI) |
- IT - |
|
Fiscal Code: 03771140245 |
|
Date |
: |
23/12/2013 |
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.
Company's starting of activities dates back to 2005.
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
Under an economic point of view, profits were registered during the last
years with a r.o.e. of 31,58% in 2014 with a remarkable upward trend (+25,35%
on 2014 compared to 2013 and +78,66% on 2013 compared to 2012).
The operating result was positive in the last financial year (19,11%)
falling within the field's average.
The operating result is positive and amounts to Eur. 5.114.149 with an
increase of 59,19% if the compared to the previous financial year.
During the latest financial year the gross operating margin amounted to
Eur. 6.021.010 showing an upward trend if compared to 2013.
Company's financial status is balanced since indebtedness is not high
(1,43) and decreasing as against 2013.
Subject can manage an equity capital funds for an amount of Eur.
9.442.913 , increasing by 46,16% if compared to the year before.
During the last financial year total debts volume reached Eur.
16.475.035 (Eur. 2.728.903 were m/l term ones) while during the financial year
2013 the amount was equal to Eur. 12.841.200.
Bank and suppliers credit recourse is limited, 88,03 gg. is payment
average period below field's average.
Payments are supported by good current assets.
As far as the collection of credit goes, the average is high (122,62
days). within the standard level of the average of the sector.
2014 financial year closed with a cash flow of Eur. 3.889.341
Labour cost amounts to Eur. 5.759.944, with a 23,28% incidence on
production costs. , whereas the incidence on sales revenues is of 19,4%.
The incidence percentage of financial charges on sales volume is equal
to -1,77%.
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.683.089 |
|
Profit (Loss) for the period |
2.982.480 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.680.044 |
|
Profit (Loss) for the period |
1.818.690 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.253.843 |
|
Profit (Loss) for the period |
2.039.328 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.722.131 |
|
Profit (Loss) for the period |
948.493 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.219.277 |
|
Profit (Loss) for the period |
705.445 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,14 |
0,18 |
0,19 |
0,25 |
|
Elasticity Ratio |
Units |
0,85 |
0,80 |
0,79 |
0,72 |
|
Availability of stock |
Units |
0,10 |
0,10 |
0,09 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,75 |
0,71 |
0,71 |
0,50 |
|
Quick Ratio |
Units |
0,04 |
0,05 |
0,04 |
0,02 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,43 |
1,69 |
1,63 |
2,61 |
|
Self Financing Ratio |
Units |
0,35 |
0,31 |
0,34 |
0,21 |
|
Capital protection Ratio |
Units |
0,68 |
0,71 |
0,55 |
0,71 |
|
Liabilities consolidation quotient |
Units |
0,24 |
0,19 |
0,19 |
0,24 |
|
Financing |
Units |
1,74 |
1,99 |
1,90 |
3,54 |
|
Permanent Indebtedness Ratio |
Units |
0,47 |
0,42 |
0,44 |
0,40 |
|
M/L term Debts Ratio |
Units |
0,12 |
0,10 |
0,11 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
0,88 |
0,82 |
0,99 |
0,84 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,50 |
2,26 |
2,35 |
1,46 |
|
Current ratio |
Units |
1,65 |
1,48 |
1,45 |
1,20 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,45 |
1,30 |
1,28 |
0,85 |
|
Structure's primary quotient |
Units |
2,61 |
1,71 |
1,79 |
0,86 |
|
Treasury's primary quotient |
Units |
0,07 |
0,09 |
0,08 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
283,36 |
317,61 |
298,18 |
477,50 |
|
Current Capital ( net ) |
Value |
8.974.789 |
5.356.335 |
3.390.185 |
239.373 |
|
RETURN |
|||||
|
Return on Sales |
% |
13,10 |
12,17 |
17,73 |
4,32 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
31,58 |
28,15 |
43,94 |
4,61 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
48,59 |
43,81 |
55,73 |
17,61 |
|
Return on Investment ( R.O.I. ) |
% |
19,11 |
15,66 |
12,96 |
4,75 |
|
Return/ Sales |
% |
17,23 |
13,57 |
13,53 |
4,25 |
|
Extra Management revenues/charges incid. |
% |
58,32 |
56,61 |
113,73 |
18,91 |
|
Cash Flow |
Value |
3.889.341 |
2.881.177 |
2.350.046 |
138.084 |
|
Operating Profit |
Value |
5.114.149 |
3.212.545 |
1.793.143 |
154.078 |
|
Gross Operating Margin |
Value |
6.021.010 |
4.275.032 |
2.103.861 |
301.188 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
122,62 |
101,34 |
137,93 |
110,83 |
|
Debts to suppliers average term |
Days |
88,03 |
89,49 |
95,10 |
121,75 |
|
Average stock waiting period |
Days |
33,48 |
30,02 |
33,54 |
60,34 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,11 |
1,15 |
0,96 |
1,12 |
|
Rate of stock return |
Units |
10,75 |
11,99 |
10,73 |
5,95 |
|
Labour cost incidence |
% |
19,40 |
18,08 |
18,18 |
21,94 |
|
Net financial revenues/ charges incidence |
% |
-1,77 |
-1,61 |
-2,06 |
-1,47 |
|
Labour cost on purchasing expenses |
% |
23,28 |
19,86 |
19,73 |
22,33 |
|
Short-term financing charges |
% |
3,23 |
3,16 |
3,15 |
2,84 |
|
Capital on hand |
% |
90,14 |
86,65 |
104,42 |
89,18 |
|
Sales pro employee |
Value |
165.827 |
178.045 |
189.340 |
165.709 |
|
Labour cost pro employee |
Value |
32.178 |
32.199 |
34.422 |
32.656 |
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 |
: |
831.356 |
|
Population living in the region |
: |
4.699.950 |
|
Number of families in the region |
: |
1.813.210 |
Monthly family expences average in the region (in Eur..) :
|
- per food products |
: |
456 |
|
- per non food products |
: |
2.052 |
|
- per energy consume |
: |
127 |
The values are calculated on a base of 1.023 significant companies.
The companies cash their credits on an average of 111 dd.
The average duration of suppliers debts is about 122 dd.
The sector's profitability is on an average of 4,32%.
The labour cost affects the turnover in the measure of 21,94%.
Goods are held in stock in a range of 60 dd.
The difference between the sales volume and the resources used to
realize it is about 1,12.
The employees costs represent the 22,33% of the production costs.
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 13.782 protested subjects are found; in the province they
count to 2.234.
The insolvency index for the region is 0,30, , while for the province it
is 0,27.
Total Bankrupt companies in the province : 2.546.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.73 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.73.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.