MIRA INFORM REPORT
|
Report No. : |
344355 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAFER - S.P.A. |
|
|
|
|
Registered Office : |
Via Lago Di Garda, 98 36015 – Schio (VI) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
31.12.1980 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of machinery
for textile, apparel and leather industries |
|
|
|
|
No. of Employees : |
From 176 to 200 |
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
|
Lafer - S.p.a. |
|
Via Lago Di
Garda, 98 |
|
36015 – Schio
(VI) -IT- |
Summary
|
Fiscal Code |
: |
01279170243 |
|
Legal Form |
: |
Joint stock
company |
|
start of
Activities |
: |
31/12/1980 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of
Employees |
: |
from 176 to 200 |
Activity
Manufacture of
machinery for textile, apparel and leather industries
(including spare
parts and accessories)
Legal Data
Legal Form : Joint
stock company
|
Fiscal Code :
01279170243 |
|
Foreign Trade
Reg. no. : VI008404 since 06/12/1991 |
|
Foreign Trade
Reg. no. : 8404 of Vicenza since 06/12/1991 |
|
Chamber of
Commerce no. : 169519 of Biella |
|
Chamber of
Commerce no. : 157528 of Vicenza since 08/01/1981 |
|
Firms' Register
: VI116-11911 of Vicenza since 19/02/1996 |
|
V.A.T. Code :
01279170243 |
|
Foundation date |
: 31/12/1980 |
|
|
Establishment
date |
: 31/12/1980 |
|
|
Start of
Activities |
: 31/12/1980 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 286.000 |
|
|
Subscribed
Capital |
: 286.000 |
|
|
Paid up Capital |
: 286.000 |
|
Legal mail : |
LAFERSPA@CERT.ASSIND.VI.IT |
Members
|
|
Lafin Srl |
|
|
: |
Lago Di Garda |
, 96 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Scortegagna |
Bruno |
|
|
Born in Schio |
(VI) |
on 17/01/1939 |
- Fiscal Code :
SCRBRN39A17I531Z |
|
|
Residence: |
Fornaci |
, 46 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/06/2013 |
||
|
Board Chairman |
28/06/2013 |
||
|
Managing
Director |
28/06/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Scortegagna |
Daniela |
|
|
Born in Malo |
(VI) |
on 24/10/1969 |
- Fiscal Code :
SCRDNL69R64E864L |
|
|
Residence: |
Dei Priuli |
, 22 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
03/09/1996 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Costeniero |
Valter |
|
|
Born in Malo |
(VI) |
on 22/11/1965 |
- Fiscal Code :
CSTVTR65S22E864K |
|
|
Residence: |
Pasubio |
, 72 |
- 36034 |
Malo |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
03/09/1996 |
||
|
Director |
28/06/2013 |
||
|
Managing
Director |
28/06/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Marchioretto |
Ruggero Pietro |
|
|
Born in Schio |
(VI) |
on 14/10/1958 |
- Fiscal Code :
MRCRGR58R14I531W |
|
|
Residence: |
Dei Priuli |
, 22 |
- 36015 |
Schio |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney General |
17/07/2007 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Broccardo |
Andrea |
|
|
Born in Schio |
(VI) |
on 26/09/1974 |
- Fiscal Code :
BRCNDR74P26I531U |
|
|
Residence: |
Trentin Vittorio |
, 40 |
- 36036 |
Torrebelvicino |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with
special power |
27/03/2014 |
|
|
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.
|
|
Scortegagna |
Bruno |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Lafin Srl |
Schio (VI) - IT
- |
01738720240 |
Procurator |
Active |
Registered |
|
|
Costeniero |
Valter |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Lafin Srl |
Schio (VI) - IT
- |
01738720240 |
Sole Director |
Active |
Registered |
|
TEXEN S.R.L. |
Schio (VI) - IT
- |
02635160241 |
Director |
Withdrawn |
Registered |
|
AMT S.R.L. |
Thiene (VI) - IT
- |
02565060247 |
Sole Director |
Withdrawn |
Registered |
|
Lafer Packaging
S.r.l. |
Schio (VI) - IT
- |
03021200245 |
Sole Director |
Active |
Registered |
|
LAFER RESEARCH
S.R.L. |
Schio (VI) - IT
- |
03021180249 |
Sole Director |
Withdrawn |
Registered |
|
Servizi
Aziendali S.r.l. |
Schio (VI) - IT
- |
03061130245 |
Director |
Active |
Registered |
|
Servizi
Aziendali S.r.l. |
Schio (VI) - IT
- |
03061130245 |
Board Chairman |
Active |
Registered |
|
Tgs Srl |
Schio (VI) - IT
- |
02757030248 |
Managing
Director |
Active |
Registered |
|
Tgs Srl |
Schio (VI) - IT
- |
02757030248 |
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 |
|
Lafin Srl |
Schio - IT - |
01738720240 |
284.440 .Eur |
99,45 |
|
Scortegagna
Bruno |
Schio - IT - |
SCRBRN39A17I531Z |
1.040 .Eur |
0,36 |
|
DE MARCHI MARIA
TERESA |
Schio - IT - |
DMRMTR40A64E864D |
520 .Eur |
0,18 |
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 |
|
Deyob Srl |
03954470245 |
4.000 .Eur |
40,00 |
Active |
Firm's location and structure
In order to carry
out its activities the firm uses the following locations:
|
- |
Legal and
operative seat |
since 03/06/1996 |
|
Lago Di Garda |
, 98 |
- 36015 |
- Schio |
(VI) |
- IT - |
|
PHONE |
: 0445694301 |
|
PHONE |
: 0445694311 |
|
FAX |
: 0445694312 |
|
Legal mail |
:
LAFERSPA@CERT.ASSIND.VI.IT |
|
- |
Branch |
(Warehouse) |
since 03/11/2014 |
|
Lago Di Vico |
, 4 |
- 36015 |
- Schio |
(VI) |
- IT - |
|
Employees |
: 183 |
|
Fittings and
Equipment for a value of 680.000 |
Eur |
|
Stocks for a
value of 2.200.000 |
Eur |
|
Vehicles for a
value of 46.000 |
Eur |
The company sells
in Italy and abroad.
The company 's
mainly customers are companies.
The firm operates
abroad as exporter..
Export trade is
the 70 % of the global turnover.
Products abroad
are placed by :
|
- importers |
|
- its own agents |
|
- direct orders
from foreign companies |
Main sales modalities:
issue cheques and bank transfers.
Company generally
pays its suppliers within 30/90 days.
Subject company
generally settles its engagements by issueing of
cheques and cash
orders.
Export is mainly
towards:
|
- Italy |
|
- |
Traded Brands / Suppliers
|
- Interacciai
Spa |
|
- Carte Dozio
Srl |
Historical Information and/or Firm's Status
--
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 POPOLARE
DI VICENZA |
5728 |
0 |
||||
|
BANCA POPOLARE DI
VICENZA SCPA |
AG.1 |
VIA VENETO ANG.
VIA BRAGLIO |
36015 |
Schio |
5728 |
60751 |
|
INTESA SANPAOLO
SPA |
3069 |
0 |
||||
|
B.CA NAZIONALE
DEL LAVORO SPA |
SCHIO |
PIAZZA DELLO
STATUTO |
36015 |
Schio (VI) |
1005 |
60750 |
Financial and Economical Analysis
The company is
active since 1980
The
economic-financial analysis has been made on the base of the b/s of the latests
three years.
During the last
years, it achieved profits (r.o.e. 14,86% on 2014)
The operating
result in 2014 was positive (5,29%) and in line with the sector's average.
The amount of the
operating result is equal to Eur. 1.404.544 ,showing stability in respect to
the value of 2013.
During the latest
financial year the gross operating margin amounted to Eur. 1.774.980 stable if
compared to the financial year 2013.
The financial
status of the company is fairly balanced with an indebtedness level of 2,11 and
decreasing as against 2013.
The management
generated equity capital for an amount of Eur. 5.349.741 , increasing by 42,29%
if compared to the year before.
During the last
financial year debts totalled Eur. 20.805.734 (Eur. 2.004.140 of which were m/l
term debts) with no important change.
The financial
exposure is moderate, on the other hand the recourse to commercial credit is
high, with a high average payment period and higher than sector's average.
Liquid assets are
good.
As to due from
customers, the average terms are 66,28 days. , that compared to the sector's
average is shorter.
During financial
year 2014 the cash flow amounted to Eur. 1.165.498
During 2014
financial year labour costs amounted to Eur. 5.860.028, with a 18,19% incidence
on production costs. , whereas the incidence of such costs on sales revenues is
equal to 17,72%.
If compared to the
sales volume (-0,38%), the impact of the financial charges is limited.
Financial Data
|
|
Complete
balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
33.072.418 |
|
Profit (Loss)
for the period |
795.062 |
|
|
Complete
balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
36.651.850 |
|
Profit (Loss)
for the period |
822.533 |
|
|
Complete
balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.098.069 |
|
Profit (Loss)
for the period |
824.529 |
|
|
Complete
balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.323.838 |
|
Profit (Loss)
for the period |
105.429 |
|
|
Complete
balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
31.606.234 |
|
Profit (Loss)
for the period |
545.513 |
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 |
0,27 |
0,27 |
0,33 |
0,18 |
|
Elasticity Ratio |
Units |
0,73 |
0,72 |
0,67 |
0,80 |
|
Availability of
stock |
Units |
0,08 |
0,07 |
0,08 |
0,24 |
|
Total Liquidity
Ratio |
Units |
0,65 |
0,65 |
0,60 |
0,48 |
|
Quick Ratio |
Units |
0,36 |
0,33 |
0,35 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term
indebtedness |
Units |
2,11 |
2,64 |
1,78 |
3,25 |
|
Self Financing
Ratio |
Units |
0,20 |
0,14 |
0,15 |
0,19 |
|
Capital protection
Ratio |
Units |
0,65 |
0,71 |
0,68 |
0,63 |
|
Liabilities
consolidation quotient |
Units |
0,13 |
0,19 |
0,34 |
0,19 |
|
Financing |
Units |
3,89 |
5,79 |
5,34 |
3,80 |
|
Permanent
Indebtedness Ratio |
Units |
0,30 |
0,27 |
0,36 |
0,36 |
|
M/L term Debts
Ratio |
Units |
0,09 |
0,13 |
0,21 |
0,11 |
|
Net Financial
Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets
ratio |
Units |
1,11 |
1,00 |
1,10 |
1,75 |
|
Current ratio |
Units |
1,03 |
1,03 |
1,09 |
1,21 |
|
Acid Test
Ratio-Liquidity Ratio |
Units |
0,91 |
0,92 |
0,96 |
0,81 |
|
Structure's
primary quotient |
Units |
0,76 |
0,52 |
0,46 |
1,03 |
|
Treasury's
primary quotient |
Units |
0,51 |
0,47 |
0,57 |
0,06 |
|
Rate of
indebtedness ( Leverage ) |
% |
495,91 |
710,77 |
668,34 |
516,42 |
|
Current Capital
( net ) |
Value |
563.125 |
557.559 |
1.251.199 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,52 |
3,28 |
4,22 |
3,35 |
|
Return on Equity
- Net- ( R.O.E. ) |
% |
14,86 |
21,88 |
23,50 |
5,13 |
|
Return on Equity
- Gross - ( R.O.E. ) |
% |
25,99 |
39,15 |
39,24 |
14,77 |
|
Return on
Investment ( R.O.I. ) |
% |
5,29 |
6,01 |
5,94 |
4,16 |
|
Return/ Sales |
% |
4,25 |
4,38 |
4,79 |
4,11 |
|
Extra Management
revenues/charges incid. |
% |
56,61 |
51,25 |
59,16 |
28,57 |
|
Cash Flow |
Value |
1.165.498 |
1.200.659 |
1.227.876 |
122.482 |
|
Operating Profit |
Value |
1.404.544 |
1.605.045 |
1.393.830 |
144.752 |
|
Gross Operating
Margin |
Value |
1.774.980 |
1.983.171 |
1.797.177 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to
clients average term |
Days |
66,28 |
70,44 |
52,67 |
111,85 |
|
Debts to
suppliers average term |
Days |
216,13 |
184,29 |
180,07 |
128,30 |
|
Average stock
waiting period |
Days |
23,93 |
19,62 |
21,79 |
80,43 |
|
Rate of capital employed
return ( Turnover ) |
Units |
1,25 |
1,37 |
1,24 |
1,08 |
|
Rate of stock
return |
Units |
15,05 |
18,35 |
16,52 |
4,45 |
|
Labour cost
incidence |
% |
17,72 |
17,08 |
17,15 |
19,12 |
|
Net financial
revenues/ charges incidence |
% |
-0,38 |
-0,36 |
-0,66 |
-1,08 |
|
Labour cost on
purchasing expenses |
% |
18,19 |
17,58 |
17,92 |
19,02 |
|
Short-term
financing charges |
% |
1,01 |
1,08 |
1,45 |
2,68 |
|
Capital on hand |
% |
80,22 |
72,91 |
80,60 |
91,91 |
|
Sales pro
employee |
Value |
180.723 |
187.958 |
187.729 |
198.432 |
|
Labour cost pro
employee |
Value |
32.022 |
32.104 |
32.199 |
35.779 |
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 1.206 significant companies.
The companies cash
their credits on an average of 112 dd.
The average
duration of suppliers debts is about 128 dd.
The sector's
profitability is on an average of 3,35%.
The labour cost
affects the turnover in the measure of 19,12%.
Goods are held in
stock in a range of 80 dd.
The difference
between the sales volume and the resources used to realize it is about 1,08.
The employees
costs represent the 19,02% 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
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.