MIRA
INFORM REPORT
|
Report No. : |
344314 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MARTEX SRL |
|
|
|
|
Registered Office : |
Via Padania, 26/28 25125 - Castel Mella (BS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.06.198 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of textile machinery, machinery
and systems for auxiliary treatment of textiles, sewing and weaving machines
(including spare parts and accessories) |
|
|
|
|
No. of Employee : |
From 16 to 25 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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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 |
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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
|
MARTEX SRL |
|
Via Padania, 26/28 25125 - Castel Mella (BS)
-IT- |
Summary
|
Fiscal Code |
: |
01227660170 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
24/06/1980 |
|
Equity |
: |
15.000 |
|
Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Manufacture of textile machinery, machinery
and systems for auxiliary treatment of textiles, sewing and weaving machines
(including spare parts and accessories)
Legal Data
Legal Form : Limited liability company
|
Register of Handcraft firms : 80682 of
Brescia |
|
Fiscal Code : 01227660170 |
|
Foreign Trade Reg. no. : 156775 of Brescia |
|
Chamber of Commerce no. : 244163 of Brescia
since 11/07/1980 |
|
V.A.T. Code : 01227660170 |
|
Establishment date |
: 20/06/1980 |
|
|
Start of Activities |
: 24/06/1980 |
|
|
Legal duration |
: 31/12/2051 |
|
|
Nominal Capital |
: 10.400 |
|
|
Subscribed Capital |
: 10.400 |
|
|
Paid up Capital |
: 10.400 |
|
Legal mail : |
MARTEX@LEGAL-MAIL.IT |
Members
|
Bertoni |
Anna |
|
Born in San Paolo |
(BS) |
on 13/05/1952 |
- Fiscal Code : BRTNNA52E53G407C |
|
Residence: |
S. Marco |
, 2 |
- 25020 |
Gambara |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/01/2000 |
|
Piacentini |
Francesca |
|
|
Born in Asola |
(MN) |
on 11/10/1976 |
- Fiscal Code : PCNFNC76R51A470B |
|
|
Residence: |
Lavatoio |
, 14 |
- 25064 |
Gussago |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
26/01/2000 |
||
|
Managing Director |
31/07/2008 |
||
|
Board Chairman |
02/12/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies
connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which members
hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Capital
Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bertoni Anna |
Gambara - IT - |
BRTNNA52E53G407C |
1.560 .Eur |
15,00 |
|
Piacentini Francesca |
Gussago - IT - |
PCNFNC76R51A470B |
8.840 .Eur |
85,00 |
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 |
|
Padania |
, 26/28 |
- 25030 |
- Castel Mella |
(BS) |
- IT - |
|
PHONE |
: 0302681313 |
|
Legal mail |
: MARTEX@LEGAL-MAIL.IT |
|
- |
Branch |
(Workshop) |
since 10/01/2000 |
|
Padania |
, 20 |
- 25030 |
- Castel Mella |
(BS) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 20/09/2004 |
|
Padania |
, 18 |
- 25030 |
- Castel Mella |
(BS) |
- IT - |
|
Employees |
: 20 |
|
Stocks for a value of 500.000 |
Eur |
The firm operates abroad as exporter..
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Italy |
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
Splitting-up project and setting-up of new
co |
|
Date |
Merging/Splitting-up Project-New Company: |
26/06/1996 |
|
Splitting-up and setting-up of a new
company |
|
|
|
Del Torchio |
, 18 |
, 25100 |
, Travagliato |
(BS) |
- IT - |
|
Fiscal Code: 03395920170 |
|
Date |
Splitting-up: |
27/01/1997 |
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
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. 821,59% on 2014) but without a significant increase in the turnover.
The return on Investment in the last
financial year was positive (11,41%) and reflects the field's average.
The amount of the operating result for the
year 2014 is of Eur. 214.270 increasing if compared to the yeart 2013.
A gross operating margine for a value of Eur.
231.336 was reached. with a more then 100% increase as opposed to the preceding
year.
Short-term debts volume if compared to net
worth, as it comes out from the total indebtedness (119,21) which tends
downward.
Subject can manage an equity capital funds
for an amount of Eur. 12.465 , with an upward trend.
During the last financial year debts totalled
Eur. 1.507.551 (Eur. 66.425 of which were m/l term debts) , a more or less
stable value.
Remarkable financial indebtedness; payments
average period is slightly high too (139,06 gg.) even if it still falls within
the sector's average.
It shows a good range of liquidity.
Due from customers average term is high and
equal to 102,56 days. but in line with the sector.
The financial management generated a cash
flow of Eur. 119.099.
Subordinate employment cost is of Eur.
670.080, i.e. 25,87% on total production costs. , whereas the incidence of such
costs on sales revenues is equal to 27,34%.
The incidence percentage of financial charges
on sales volume is equal to -2,97%.
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.450.927 |
|
Profit (Loss) for the period |
102.411 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.493.859 |
|
Profit (Loss) for the period |
-35.932 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.445.562 |
|
Profit (Loss) for the period |
-208.003 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.615.488 |
|
Profit (Loss) for the period |
-174.576 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.164.079 |
|
Profit (Loss) for the period |
-9.355 |
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 |
0,09 |
0,10 |
0,09 |
0,18 |
|
Elasticity Ratio |
Units |
0,79 |
0,89 |
0,90 |
0,80 |
|
Availability of stock |
Units |
0,27 |
0,25 |
0,27 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,52 |
0,65 |
0,63 |
0,48 |
|
Quick Ratio |
Units |
n.c. |
0,03 |
0,03 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
119,21 |
n.c. |
n.c. |
3,25 |
|
Self Financing Ratio |
Units |
0,01 |
n.c. |
n.c. |
0,19 |
|
Capital protection Ratio |
Units |
-8,05 |
n.c. |
n.c. |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,26 |
0,26 |
0,27 |
0,19 |
|
Financing |
Units |
120,94 |
n.c. |
n.c. |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,20 |
0,16 |
0,18 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,20 |
0,21 |
0,21 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
51,27 |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,31 |
1,66 |
1,98 |
1,75 |
|
Current ratio |
Units |
1,03 |
1,09 |
1,12 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,68 |
0,79 |
0,79 |
0,81 |
|
Structure's primary quotient |
Units |
0,08 |
n.c. |
n.c. |
1,03 |
|
Treasury's primary quotient |
Units |
n.c. |
0,04 |
0,04 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
15061,58 |
n.c. |
n.c. |
516,42 |
|
Current Capital ( net ) |
Value |
43.125 |
126.995 |
175.468 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,86 |
-0,72 |
-7,74 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
821,59 |
n.c. |
n.c. |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1134,14 |
n.c. |
n.c. |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
11,41 |
2,31 |
-7,99 |
4,16 |
|
Return/ Sales |
% |
8,74 |
1,65 |
-5,94 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
47,80 |
-87,43 |
n.c. |
28,57 |
|
Cash Flow |
Value |
119.099 |
-17.881 |
-189.247 |
122.482 |
|
Operating Profit |
Value |
214.270 |
41.100 |
-145.354 |
144.752 |
|
Gross Operating Margin |
Value |
231.336 |
59.423 |
-125.736 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
102,56 |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
139,06 |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
73,95 |
63,24 |
71,53 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,31 |
1,40 |
1,34 |
1,08 |
|
Rate of stock return |
Units |
4,87 |
5,69 |
5,03 |
4,45 |
|
Labour cost incidence |
% |
27,34 |
29,87 |
32,66 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-2,97 |
-2,78 |
-2,78 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
25,87 |
30,83 |
30,80 |
19,02 |
|
Short-term financing charges |
% |
4,86 |
4,56 |
4,49 |
2,68 |
|
Capital on hand |
% |
76,60 |
71,43 |
74,38 |
91,91 |
|
Sales pro employee |
Value |
122.546 |
108.428 |
101.898 |
198.432 |
|
Labour cost pro employee |
Value |
33.504 |
32.385 |
33.281 |
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
moderately risky.
In the region 50.886 protested subjects are found;
in the province they count to 5.551.
The insolvency index for the region is 0,55,
, while for the province it is 0,48.
Total Bankrupt companies in the province :
3.452.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
|
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.