MIRA INFORM REPORT
|
Report No. : |
344032 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOART E WIRE S.R.L |
|
|
|
|
Registered Office : |
Via Astico, 40 36030 - Fara Vicentino (VI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.11.2005 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of
interchangeable parts for machne tools |
|
|
|
|
No. of Employees : |
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 |
Company
name and address
|
Boart E Wire
S.r.l. |
|
Via Astico, 40 |
|
36030 - Fara
Vicentino (VI) -IT- |
Summary
|
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 |
Activity
Manufacture of
interchangeable parts for machne tools
Legal Data
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 |
Members
|
|
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 |
|
|
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 |
|
|
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 |
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.
|
|
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.
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 |
|
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 |
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 |
|
Astico |
, 40 |
- 36030 |
- Fara Vicentino |
(VI) |
- IT - |
|
PHONE |
: 04451744139 |
|
FAX |
: 04451744237 |
|
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 |
Historical Information and/or Firm's Status
--
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of
merging by taking over of |
|
|
|
|
Astico |
, 50 |
, 36030 |
, Fara Vicentino |
(VI) |
- IT - |
|
|
Fiscal Code:
03771140245 |
|
|
Date |
Merging/splitting-up
project: |
08/10/2013 |
|
|
The firm
absorbed by merging of |
|
|
|
|
Astico |
, 50 |
, 36030 |
, Fara Vicentino |
(VI) |
- IT - |
|
|
Fiscal Code:
03771140245 |
|
|
Date |
: |
23/12/2013 |
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.
Financial and Economical Analysis
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%.
Financial Data
|
|
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 |
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 |
0,14 |
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 |
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 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.
Statistical Detrimental Data
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.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.