MIRA INFORM REPORT
|
Report No. : |
344967 |
|
Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARIETE GROUP S.P.A. |
|
|
|
|
Registered Office : |
Via Delle Querce, 8 46019 – Viadana (MN) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
16.03.1985 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
·
Wholesale
of soaps, detergents and other cleaning products ·
Wholesale
of knives, cutlery and pots and pans ·
Wholesale
of perfume and cosmetics ·
Wholesale
of fire-prevention and accident-prevention goods |
|
|
|
|
No. of Employees : |
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 : |
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
|
Ariete Group
S.p.a. |
|
Via Delle
Querce, 8 |
|
46019 – Viadana
(MN) -IT- |
Summary
|
Fiscal Code |
: |
01392710206 |
|
Legal Form |
: |
Joint stock
company |
|
start of
Activities |
: |
02/12/1985 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
12.750.000/15.500.000 |
|
Number of
Employees |
: |
from 36 to 50 |
Activity
Wholesale of
soaps, detergents and other cleaning products
Wholesale of
knives, cutlery and pots and pans
Wholesale of
perfume and cosmetics
Wholesale of
fire-prevention and accident-prevention goods
Legal Data
Legal Form : Joint
stock company
|
Fiscal Code :
01392710206 |
|
Foreign Trade
Reg. no. : MN001106 since 13/12/1991 |
|
Foreign Trade
Reg. no. : 001106 of Mantova since 13/12/1991 |
|
Foreign Trade
Reg. no. : M452139 of Mantova |
|
Chamber of Commerce
no. : 149501 of Cremona |
|
Chamber of
Commerce no. : 156586 of Mantova since 13/09/1985 |
|
Firms' Register
: MN030-10979 of Mantova since 19/02/1996 |
|
V.A.T. Code :
01392710206 |
|
R. E. C. no. :
19525 of Mantova since 02/12/1985 |
|
R. E. C. no. :
0019525 of Mantova since 02/12/1985 |
|
Tribunal Co.
Register : 10979 of since 02/04/1985 |
|
Foundation date |
: 16/03/1985 |
|
|
Establishment
date |
: 16/03/1985 |
|
|
Start of
Activities |
: 02/12/1985 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 6.000.000 |
|
|
Subscribed
Capital |
: 6.000.000 |
|
|
Paid up Capital |
: 6.000.000 |
|
Legal mail : |
ARIETE-GROUP@PEC.IT |
Members
|
|
Bacchiavini |
Fabrizio |
|
|
Born in
Guastalla |
(RE) |
on 18/04/1954 |
- Fiscal Code :
BCCFRZ54D18E253G |
|
|
Residence: |
Risorgimento |
, 24 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
29/05/2014 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Bacchiavini |
Betty |
|
|
Born in
Casalmaggiore |
(CR) |
on 19/12/1978 |
- Fiscal Code :
BCCBTY78T59B898D |
|
|
Residence: |
Lanza |
, 1 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with
special power |
14/03/2013 |
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
|
|
Bacchiavini |
Matteo |
|
|
Born in
Casalmaggiore |
(CR) |
on 14/02/1976 |
- Fiscal Code :
BCCMTT76B14B898D |
|
|
Residence: |
Foscolo |
, 24 |
- 46019 |
Viadana |
(MN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with
special power |
14/03/2013 |
|
|
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.
|
|
Bacchiavini |
Fabrizio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BACCHIAVINI
FABRIZIO |
Viadana (MN) -
IT - |
BCCFRZ54D18E253G |
Proprietor |
Withdrawn |
Registered |
|
Firstmed S.r.l. |
Viadana (MN) -
IT - |
02086470206 |
Director |
Withdrawn |
Registered |
|
Asso Service
S.r.l. |
Reggio Emilia
(RE) - IT - |
02292190358 |
Director |
Withdrawn |
Registered |
|
Asso Service
S.r.l. |
Reggio Emilia
(RE) - IT - |
02292190358 |
Assistant board
Chairman |
Withdrawn |
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 |
|
Bacchiavini
Fabrizio |
Viadana - IT - |
BCCFRZ54D18E253G |
2.529.200 .Eur |
42,15 |
|
Bacchiavini
Betty |
Viadana - IT - |
BCCBTY78T59B898D |
1.735.400 .Eur |
28,92 |
|
Bacchiavini
Matteo |
Viadana - IT - |
BCCMTT76B14B898D |
1.735.400 .Eur |
28,92 |
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 |
|
Firstmed S.r.l. |
Viadana - IT - |
02086470206 |
33.000 .Eur |
33,33 |
Active |
||
|
Asso Service
S.r.l. |
Reggio Emilia -
IT - |
02292190358 |
45.351 .Eur |
38,11 |
Active |
||
|
Consorzio
Imprese Progress E Competition |
Viadana - IT - |
01761630209 |
Active |
||||
|
Ariete
International S.r.l. |
Viadana - IT - |
02038740201 |
100,00 |
Active |
Firm's location and structure
In order to carry
out its activities the firm uses the following locations:
|
- |
Legal and
operative seat |
since 23/12/1988 |
|
Delle Querce |
, 8 |
- 46019 |
- Viadana |
(MN) |
- IT - |
|
PHONE |
: 0375790068-820 |
|
PHONE |
: 03758205 |
|
FAX |
: 0375820501 |
|
Legal mail |
:
ARIETE-GROUP@PEC.IT |
|
- |
Branch |
(Store) |
since 05/11/2004 |
|
Risorgimento |
, 22-24 |
- 46019 |
- Viadana |
(MN) |
- IT - |
|
Employees |
: 37 |
|
Assistants |
: 4 |
|
Fittings and
Equipment for a value of 35.000 |
Eur |
|
Stocks for a
value of 11.000.000 |
Eur |
Trade
organization: direct or by agents.
Sales area on a
national scale.
The firm operates abroad
as importer / exporter..
To purchase
foreign products the firm uses the following channels :
|
- distributors |
|
- direct orders
to foreign companies |
Export represents
up to 20% of the global turnover.
Products abroad
are placed by :
|
- importers |
|
- its own sales
net-work |
|
- direct orders
from foreign companies |
Import comes
generally from the following nations:
|
- France |
|
- Spain |
Historical Information and/or Firm's Status
CHANGES TO THE
LEGAL FORM:
|
Former legal
form |
New legal form |
Changement Date |
|
General
partnership |
Joint stock
company |
30/11/1999 |
COMPANY STYLE
MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
Ariete snc di
Bacchiavini e Biacchi |
01/02/2000 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of
merging by taking over of |
|
|
|
|
Fabio Filzi |
, 18 |
, 46019 |
, Viadana |
(MN) |
- IT - |
|
|
Fiscal Code:
02038740201 |
|
|
Date |
Merging/splitting-up
project: |
15/06/2008 |
|
|
The firm
absorbed by merging of |
|
|
|
|
Fabio Filzi |
, 18 |
, 46019 |
, Viadana |
(MN) |
- IT - |
|
|
Fiscal Code:
02038740201 |
|
|
Date |
: |
14/11/2008 |
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
Subject is active
since 1985
Balance sheets for
the years 2012, 2013 and 2014 were analyzed.
Under an economic
point of view, profits were registered during the last years with a r.o.e. of
0,7% in 2014
The operating
result in 2014 was positive (4,66%) and reflects the field's average.
The operating result
is positive and amounts to Eur. 957.946 on stable levels if compared to the
previous year.
A gross operating
margine for a value of Eur. 1.342.269 was reached. stable if compared to the
financial year 2013.
The financial
status of the company is fairly balanced with an indebtedness level of 1,6 and
falling as against the previous year (2).
The management
generated equity capital for an amount of Eur. 6.455.733 on the same levels as
the year before.
In the year 2014
total debts amounted to Eur. 13.256.820 showing a stable trend as opposed to
2013 (Eur. 14.777.780).
Moderate recourse
to bank credit while the exposure towards suppliers is rather high besides
being higher than sector's average.
The available
funds are good.
Accounts
receivable average term is high (146,85 days). even if compared to the average
of the sector.
The financial
management generated a cash flow of Eur. 429.275.
Labour cost
expenses amount to Eur. 1.386.901 , representing 10,44% on the total of
production costs. , whereas 9,79% is the incidence on sales revenues.
Financial charges
have a high incidence (-4,82%) on turnover figures.
Financial Data
|
|
Complete
balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
14.173.569 |
|
Profit (Loss)
for the period |
44.952 |
|
|
Complete
balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.455.506 |
|
Profit (Loss)
for the period |
40.725 |
|
|
Complete
balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.617.248 |
|
Profit (Loss)
for the period |
67.589 |
|
|
Complete
balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
21.287.290 |
|
Profit (Loss)
for the period |
125.281 |
|
|
Complete
balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.697.929 |
|
Profit (Loss)
for the period |
141.952 |
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 |
0,16 |
0,17 |
0,17 |
0,10 |
|
Elasticity Ratio |
Units |
0,83 |
0,82 |
0,82 |
0,87 |
|
Availability of
stock |
Units |
0,54 |
0,54 |
0,52 |
0,21 |
|
Total Liquidity
Ratio |
Units |
0,29 |
0,28 |
0,30 |
0,61 |
|
Quick Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term
indebtedness |
Units |
1,60 |
2,00 |
2,22 |
4,04 |
|
Self Financing
Ratio |
Units |
0,31 |
0,29 |
0,27 |
0,16 |
|
Capital
protection Ratio |
Units |
0,06 |
0,06 |
0,05 |
0,59 |
|
Liabilities
consolidation quotient |
Units |
0,35 |
0,19 |
0,19 |
0,11 |
|
Financing |
Units |
2,05 |
2,31 |
2,56 |
4,85 |
|
Permanent
Indebtedness Ratio |
Units |
0,49 |
0,41 |
0,39 |
0,26 |
|
M/L term Debts
Ratio |
Units |
0,18 |
0,11 |
0,11 |
0,07 |
|
Net Financial
Indebtedness Ratio |
Units |
0,78 |
1,30 |
1,82 |
1,01 |
|
CORRELATION |
|||||
|
Fixed assets
ratio |
Units |
2,98 |
2,41 |
2,25 |
2,12 |
|
Current ratio |
Units |
1,65 |
1,40 |
1,35 |
1,16 |
|
Acid Test
Ratio-Liquidity Ratio |
Units |
0,58 |
0,48 |
0,49 |
0,88 |
|
Structure's
primary quotient |
Units |
1,91 |
1,73 |
1,59 |
1,40 |
|
Treasury's
primary quotient |
Units |
0,00 |
0,00 |
0,00 |
0,04 |
|
Rate of
indebtedness ( Leverage ) |
% |
318,20 |
342,55 |
366,91 |
620,22 |
|
Current Capital
( net ) |
Value |
6.652.111 |
5.173.846 |
4.964.745 |
131.414 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,03 |
2,83 |
2,21 |
2,27 |
|
Return on Equity
- Net- ( R.O.E. ) |
% |
0,70 |
0,64 |
1,06 |
6,70 |
|
Return on Equity
- Gross - ( R.O.E. ) |
% |
4,25 |
4,69 |
3,63 |
18,85 |
|
Return on
Investment ( R.O.I. ) |
% |
4,66 |
4,40 |
5,22 |
4,76 |
|
Return/ Sales |
% |
6,76 |
5,53 |
6,22 |
3,70 |
|
Extra Management
revenues/charges incid. |
% |
4,69 |
4,22 |
5,54 |
28,15 |
|
Cash Flow |
Value |
429.275 |
494.506 |
433.664 |
39.655 |
|
Operating Profit |
Value |
957.946 |
965.585 |
1.219.479 |
63.123 |
|
Gross Operating
Margin |
Value |
1.342.269 |
1.419.366 |
1.585.554 |
99.042 |
|
MANAGEMENT |
|||||
|
Credits to
clients average term |
Days |
146,85 |
122,47 |
120,73 |
119,16 |
|
Debts to
suppliers average term |
Days |
144,15 |
97,44 |
79,85 |
116,83 |
|
Average stock
waiting period |
Days |
279,33 |
245,33 |
222,51 |
58,39 |
|
Rate of capital
employed return ( Turnover ) |
Units |
0,69 |
0,79 |
0,84 |
1,36 |
|
Rate of stock
return |
Units |
1,29 |
1,47 |
1,62 |
6,14 |
|
Labour cost
incidence |
% |
9,79 |
9,40 |
8,47 |
8,98 |
|
Net financial
revenues/ charges incidence |
% |
-4,82 |
-3,81 |
-5,04 |
-1,08 |
|
Labour cost on
purchasing expenses |
% |
10,44 |
9,88 |
8,90 |
8,98 |
|
Short-term
financing charges |
% |
5,21 |
4,57 |
6,19 |
2,60 |
|
Capital on hand |
% |
144,93 |
125,80 |
119,14 |
73,17 |
|
Sales pro
employee |
Value |
329.617 |
342.264 |
384.651 |
394.001 |
|
Labour cost pro
employee |
Value |
32.253 |
32.181 |
32.592 |
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 lowly risky.
In the region
50.886 protested subjects are found; in the province they count to 1.630.
The insolvency
index for the region is 0,55, , while for the province it is 0,42.
Total Bankrupt
companies in the province : 954.
Total Bankrupt
companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
UK Pound |
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.74.50 |
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.