MIRA INFORM REPORT
|
Report No. : |
344993 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOCIM S.P.A. |
|
|
|
|
Registered Office : |
Via Tovini, 72/74, 25021 - Bagnolo Mella (BS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
08.10.1992 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale of fire-prevention and accident-prevention goods |
|
|
|
|
No. of Employee : |
from 36 to 50 |
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 : |
Slow but correct / Unknown / No complaints / Regular |
|
|
|
|
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
SOCIM S.P.A.
Via Tovini, 72/74,
25021 - Bagnolo Mella (BS)
-IT-
Summary
|
Fiscal Code |
: |
03204310175 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
01/02/1994 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
18.000.000/20.000.000 |
|
Number of Employees |
: |
from 36 to 50 |
Activity
Wholesale of fire-prevention and accident-prevention goods
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 03204310175 |
|
Foreign Trade Reg. no. : BS057841 since 27/12/1995 |
|
Chamber of Commerce no. : 341548 of Brescia since 22/12/1992 |
|
Chamber of Commerce no. : 170690 of Bolzano |
|
Chamber of Commerce no. : 388127 of Verona |
|
Chamber of Commerce no. : 402194 of Verona |
|
Firms' Register : BS029-50387 of Brescia since 19/02/1996 |
|
V.A.T. Code : 03204310175 |
|
R. E. C. no. : 9592 of Brescia since 31/01/1994 |
|
R. E. C. no. : 30531 of Brescia since 31/01/1994 |
|
Foundation date |
: 08/10/1992 |
|
Establishment date |
: 08/10/1992 |
|
Start of Activities |
: 01/02/1994 |
|
Legal duration |
: 31/12/2050 |
|
Nominal Capital |
: 3.125.000 |
|
Subscribed Capital |
: 3.125.000 |
|
Paid up Capital |
: 3.125.000 |
|
Legal mail : |
SOCIMBSSPA@LEGALMAIL.IT |
Members
|
Gubbini |
Adorno |
|
Born in Leno |
(BS) |
on 11/07/1948 |
- Fiscal Code : GBBDRN48L11E526S |
|
Residence: |
Cremona |
, 172 |
- 25124 |
Brescia |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
27/05/2014 |
||
|
Board Chairman |
27/05/2014 |
||
|
Managing Director |
27/05/2014 |
|
No Prejudicial events are reported |
|
No Protests registered |
|
Griso |
Luciano |
|
Born in Chiampo |
(VI) |
on 05/08/1956 |
- Fiscal Code : GRSLCN56M05C605X |
|
Residence: |
G. Verdi |
, 44 |
- 36072 |
Chiampo |
(VI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
27/05/2014 |
||
|
Director |
27/05/2014 |
|
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.
|
Gubbini |
Adorno |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Impex - S.r.l. |
Brescia (BS) - IT - |
02913010175 |
Liquidator |
Withdrawn |
Ceased |
|
Gubbini Adorno |
Brescia (BS) - IT - |
GBBDRN48L11E526S |
Proprietor |
Withdrawn |
Ceased |
|
Fin Prisma S.r.l. |
Bagnolo Mella (BS) - IT - |
03504880174 |
Sole Director |
Active |
Registered |
|
Myday S.r.l. In Liquidazione |
Bagnolo Mella (BS) - IT - |
01666320385 |
Liquidator |
Active |
Registered |
|
Griso |
Luciano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Elefantino S.r.l. |
Sovizzo (VI) - IT - |
00876030248 |
Managing
Director |
Withdrawn |
Ceased |
|
Velofin Srl |
Bagnolo Mella (BS) - IT - |
02459340986 |
Sole Director |
Withdrawn |
Registered |
|
Sipel S.n.c. Di Cosaro E Griso |
Chiampo (VI) - IT - |
01331830248 |
Partner |
Withdrawn |
Ceased |
|
Griso Luciano |
Chiampo (VI) - IT - |
GRSLCN56M05C605X |
Proprietor |
Withdrawn |
Ceased |
|
Ve.ra. Veneta Rappresentanze Di L. GrisoE C. S.a.s. |
Chiampo (VI) - IT - |
01634810244 |
General Partner |
Withdrawn |
Ceased |
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 |
|
Gubbini Adorno |
Brescia - IT - |
GBBDRN48L11E526S |
2.750.000 .Eur |
88,00 |
|
Griso Luciano |
Chiampo - IT - |
GRSLCN56M05C605X |
312.500 .Eur |
10,00 |
|
Griso Riccardo |
GRSRCR83L26A459F |
62.500 .Eur |
2,00 |
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 |
|
Ecolight |
Milano - IT - |
04357740960 |
Active |
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
Legal and operative seat |
since 14/04/1998 |
|
Tovini |
, 72/74 |
- 25021 |
- Bagnolo Mella |
(BS) |
- IT - |
|
PHONE |
: 0303581877 |
|
PHONE |
: 0306829511 |
|
FAX |
: 0306829599 |
|
Legal mail |
: SOCIMBSSPA@LEGALMAIL.IT |
|
Branch |
(Warehouse) |
since 18/06/2002 |
|
Via Stazione |
, 18 |
- 39040 |
- Termeno sulla Strada del Vino |
(BZ) |
- IT - |
|
Branch |
(Store) |
since 18/10/2013 |
|
Caduti Del Lavoro |
, 25 |
- 37012 |
- Bussolengo |
(VR) |
- IT - |
|
Branch |
(Store) |
since 18/10/2013 |
|
Via Stazione |
, 51 |
- 39044 |
- Egna |
(BZ) |
- IT - |
|
Branch |
(Store) |
since 01/11/2013 |
|
Torricelli - Zona Zai |
, 55 |
- 37100 |
- Verona |
(VR) |
- IT - |
|
Employees |
: 49 |
|
Fittings and Equipment for a value of 770.000 |
Eur |
|
Stocks for a value of 11.760.000 |
Eur |
Trade organization: direct or by agents.
Sales area on a national scale.
Transports are mainly done using own vehicles and third parties ones
Subject generally proposes terms of sale between 30 and 60 days.
Main sales modalities: issue cheques and bank transfers.
Purchase terms: 60-90-120 days.
Subject usually pays by IDR, cash orders and drafts.
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form+ |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
17/12/1999 |
CEASINGS/INCORPORATIONS/MERGES:
|
Project of merging by taking over of |
|
Velofin Srl |
|
Tovini |
, 72/74 |
, 25021 |
, Bagnolo Mella |
(BS) |
- IT - |
|
Fiscal Code: 02459340986 |
|
Date |
Merging/splitting-up project: |
14/03/2014 |
|
The firm absorbed by merging of |
|
Velofin Srl |
|
Tovini |
, 72/74 |
, 25021 |
, Bagnolo Mella |
(BS) |
- IT - |
|
Fiscal Code: 02459340986 |
|
Date |
: |
21/11/2014 |
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 1994.
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
Under the financial profile unstable results are noted. with a profit
(r.o.e. 0,87%) in the last financial year In the last financial year an
increase in the turnover has been registered (+7,73%).
The operating result was positive in the last financial year (3,42%) and
in line with the sector's average.
The amount of the operating result is equal to Eur. 827.784 on stable
levels if compared to the previous year.
The gross operating margin of the latest financial year is of Eur.
1.014.905 stable if compared to the financial year 2013.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,72) even though on the increase if compared to 2013.
It's shareholders funds amount to Eur. 5.130.961 , stable in comparison
with the value of the previous year.
Total debts recorded amounted to Eur. 18.539.119 (Eur. 4.445.603 of
which were m/l term debts) on the same levels as the year before.
Bank borrowings' volume is slightly high but it modestly dips into
suppliers credit, 78,97 gg. is the payments' average time which is also lower
than the sector average.
Payments are supported by good current assets.
Accounts receivable average term is high (214,96 days). and higher than
the average of the sector.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 231.880
Labour cost expenses amount to Eur. 1.571.527 , representing 8,9% on the
total of production costs. and a 8,53% incidence on sales volumes.
The financial management is marked by a high incidence of financial
charges in relation to sales revenues (-3,58%).
Financial Data
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
18.428.093 |
|
Profit (Loss) for the period |
44.759 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.104.343 |
|
Profit (Loss) for the period |
4.332 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.638.336 |
|
Profit (Loss) for the period |
-68.041 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.675.317 |
|
Profit (Loss) for the period |
-21.007 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.294.437 |
|
Profit (Loss) for the period |
240.881 |
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 |
0,04 |
0,04 |
0,04 |
0,10 |
|
Elasticity Ratio |
Units |
0,96 |
0,96 |
0,96 |
0,87 |
|
Availability of stock |
Units |
0,49 |
0,43 |
0,47 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,48 |
0,53 |
0,49 |
0,61 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,72 |
2,37 |
3,02 |
4,04 |
|
Self Financing Ratio |
Units |
0,21 |
0,23 |
0,19 |
0,16 |
|
Capital protection Ratio |
Units |
0,38 |
0,38 |
0,39 |
0,59 |
|
Liabilities consolidation quotient |
Units |
0,35 |
0,42 |
0,41 |
0,11 |
|
Financing |
Units |
3,61 |
3,31 |
4,27 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,41 |
0,46 |
0,42 |
0,26 |
|
M/L term Debts Ratio |
Units |
0,20 |
0,23 |
0,23 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
2,81 |
2,70 |
3,45 |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
11,56 |
11,25 |
11,64 |
2,12 |
|
Current ratio |
Units |
1,65 |
1,76 |
1,67 |
1,16 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,82 |
0,98 |
0,85 |
0,88 |
|
Structure's primary quotient |
Units |
5,93 |
5,60 |
5,15 |
1,40 |
|
Treasury's primary quotient |
Units |
0,01 |
0,01 |
0,02 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
471,54 |
440,41 |
536,41 |
620,22 |
|
Current Capital ( net ) |
Value |
9.164.515 |
9.189.073 |
10.440.752 |
131.414 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,26 |
0,98 |
0,58 |
2,27 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,87 |
0,09 |
-1,35 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
2,43 |
2,60 |
0,39 |
18,85 |
|
Return on Investment ( R.O.I. ) |
% |
3,42 |
3,17 |
2,42 |
4,76 |
|
Return/ Sales |
% |
4,49 |
4,12 |
3,34 |
3,70 |
|
Extra Management revenues/charges incid. |
% |
5,41 |
0,61 |
-10,39 |
28,15 |
|
Cash Flow |
Value |
231.880 |
166.860 |
113.674 |
39.655 |
|
Operating Profit |
Value |
827.784 |
704.820 |
654.940 |
63.123 |
|
Gross Operating Margin |
Value |
1.014.905 |
867.348 |
836.655 |
99.042 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
214,96 |
234,76 |
228,52 |
119,16 |
|
Debts to suppliers average term |
Days |
78,97 |
72,97 |
76,89 |
116,83 |
|
Average stock waiting period |
Days |
229,79 |
199,72 |
234,42 |
58,39 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,76 |
0,77 |
0,73 |
1,36 |
|
Rate of stock return |
Units |
1,57 |
1,80 |
1,54 |
6,14 |
|
Labour cost incidence |
% |
8,53 |
7,67 |
7,25 |
8,98 |
|
Net financial revenues/ charges incidence |
% |
-3,58 |
-4,11 |
-3,14 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
8,90 |
7,82 |
7,24 |
8,98 |
|
Short-term financing charges |
% |
3,72 |
4,47 |
3,18 |
2,60 |
|
Capital on hand |
% |
131,29 |
129,83 |
137,61 |
73,17 |
|
Sales pro employee |
Value |
376.083 |
551.753 |
577.598 |
394.001 |
|
Labour cost pro employee |
Value |
32.071 |
42.312 |
41.849 |
34.340 |
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 2.551 significant companies.
The companies cash their credits on an average of 119 dd.
The average duration of suppliers debts is about 117 dd.
The sector's profitability is on an average of 2,27%.
The labour cost affects the turnover in the measure of 8,98%.
Goods are held in stock in a range of 58 dd.
The difference between the sales volume and the resources used to
realize it is about 1,36.
The employees costs represent the 8,98% 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 : |
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.