MIRA INFORM REPORT
|
Report No. : |
345727 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MONTICOLOR
S.P.A. |
|
|
|
|
Registered Office : |
Via Artigianale, 55,
25010 – Montirone (BS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
04.01.1993 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Wholesale
of Textile Products. |
|
|
|
|
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
MONTICOLOR S.P.A.
Via Artigianale, 55
25010 - Montirone (BS) -IT-
Summary
|
Fiscal
Code |
: |
03211770171 |
|
Legal
Form |
: |
Joint
stock company |
|
start
of Activities |
: |
06/12/1993 |
|
Equity |
: |
Over
2.582.254 |
|
Turnover
Range |
: |
18.000.000/20.000.000
|
|
Number
of Employees |
: |
from
36 to 50 |
Activity
Wholesale
of textile products
Wholesale
of textiles
Legal
Data
Legal
Form : Joint stock company
|
Fiscal
Code : 03211770171 |
|
Foreign
Trade Reg. no. : BS051463 since 04/08/1994 |
|
Foreign
Trade Reg. no. : 051463 of Brescia since 04/08/1994 |
|
Chamber
of Commerce no. : 361193 of Bergamo |
|
Chamber
of Commerce no. : 409500 of Bergamo |
|
Chamber
of Commerce no. : 342933 of Brescia since 04/03/1993 |
|
Firms'
Register : 50865 of Brescia |
|
Firms'
Register : BS029-50865 of Brescia since 19/02/1996 |
|
V.A.T.
Code : 03211770171 |
|
R.
E. C. no. : 8370 of Brescia since 23/08/1993 |
|
R.
E. C. no. : 26216 of Brescia since 23/08/1993 |
|
Establishment
date |
:
04/01/1993 |
|
|
Start
of Activities |
:
06/12/1993 |
|
|
Legal
duration |
:
31/12/2100 |
|
|
Nominal
Capital |
:
690.000 |
|
|
Subscribed
Capital |
:
690.000 |
|
|
Paid
up Capital |
:
690.000 |
|
Legal
mail : |
MONTICOLOR@LEGALMAIL.IT |
Members
|
|
Lanza |
Vittorino |
|
|
Born
in Brescia |
(BS) |
on
21/09/1956 |
-
Fiscal Code : LNZVTR56P21B157J |
|
|
Residence: |
Michelangelo |
,
6 |
-
25031 |
Capriolo |
(BS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
30/04/2013 |
||
|
Board
Chairman |
30/04/2013 |
||
|
Managing
Director |
30/04/2013 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Corti |
Alberto |
|
|
Born
in Brescia |
(BS) |
on
11/06/1966 |
-
Fiscal Code : CRTLRT66H11B157G |
|
|
Residence: |
Dante
Alighieri |
,
35/E |
-
25040 |
Monticelli
Brusati |
(BS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
30/04/2013 |
||
|
Partner |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Lanza |
Fulvio |
|
|
Born
in Capriolo |
(BS) |
on
27/06/1963 |
-
Fiscal Code : LNZFLV63H27B711N |
|
|
Residence: |
Michelangelo |
,
38 |
-
25031 |
Capriolo |
(BS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
30/04/2013 |
||
|
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.
|
|
Lanza |
Vittorino |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Filatura
Di Montirone S.p.a. |
Capriolo
(BS) - IT - |
00501680177 |
Sole
Director |
Withdrawn |
Ceased |
|
Iccrea
Holding Spa |
Roma
(RM) - IT - |
01294700586 |
Director |
Active |
Registered |
|
Banca
Di Credito Cooperativo Del Basso Sebino-societa' Cooperativa |
Capriolo
(BS) - IT - |
00278750179 |
Director |
Active |
Registered |
|
Banca
Di Credito Cooperativo Del Basso Sebino-societa' Cooperativa |
Capriolo
(BS) - IT - |
00278750179 |
Assistant
board Chairman |
Withdrawn |
Registered |
|
Banca
Di Credito Cooperativo Del Basso Sebino-societa' Cooperativa |
Capriolo
(BS) - IT - |
00278750179 |
Board
Chairman |
Active |
Registered |
|
Federazione
Lombarda Delle Banche Di Credito Cooperativo Societa' Cooperativa |
Milano
(MI) - IT - |
01284150156 |
Director |
Active |
Registered |
|
Aus
S.r.l. |
Provaglio
d'Iseo (BS) - IT - |
02181030988 |
Delegate
Art.2 Law 25/8/91 no.287 |
Active |
Registered |
|
Initaly
S.r.l. |
Brescia
(BS) - IT - |
02635530989 |
Sole
Director |
Withdrawn |
Registered |
|
Fondazione
Cassa Rurale Ed Artigiana DiCapriolo Onlus |
Capriolo
(BS) - IT - |
98183890171 |
Director |
Active |
Registered |
|
Fondazione
Cassa Rurale Ed Artigiana DiCapriolo Onlus |
Capriolo
(BS) - IT - |
98183890171 |
Board
Chairman |
Active |
Registered |
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 |
|
Lanza
Vittorino |
Capriolo
- IT - |
LNZVTR56P21B157J |
230.000
.Eur |
33,33 |
|
Corti
Alberto |
Monticelli
Brusati - IT - |
CRTLRT66H11B157G |
230.000
.Eur |
33,33 |
|
Lanza
Fulvio |
Capriolo
- IT - |
LNZFLV63H27B711N |
230.000
.Eur |
33,33 |
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 |
|
Inteco
S.r.l. |
Bergamo
- IT - |
01755920160 |
25.740
.Eur |
50,00 |
Active |
||
|
Logicolor
Srl |
Montirone
- IT - |
02456080981 |
88.200
.Eur |
98,00 |
Active |
Firm's
location and structure
In
order to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
Artigianale |
,
55 |
-
25010 |
-
Montirone |
(BS) |
-
IT - |
|
Trading
Style: Monticolor |
|
PHONE |
:
0302171038 |
|
Legal
mail |
:
MONTICOLOR@LEGALMAIL.IT |
|
- |
Branch |
(Warehouse) |
since
16/01/2012 |
|
Fornace |
,
2 |
-
24060 |
-
Adrara San Martino |
(BG) |
-
IT - |
|
Employees |
:
37 |
|
Assistants |
:
1 |
|
Fittings
and Equipment for a value of 72.000 |
Eur |
|
Stocks
for a value of 2.640.000 |
Eur |
The
firm has a direct commercial organization
Sales
are on a local scale.
Import
comes generally from the following nations:
|
-
France |
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 |
18/12/2001 |
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 1993
The
eonomic-financial analysis is based on the latest 3 b/s.
During
the last years, it achieved profits (r.o.e. 9,36% on 2014) but without a
significant increase in the turnover.
The
operating result in 2014 was positive (5,41%) and in line with the sector's
average.
The
operating result is positive and amounts to Eur. 928.111 with no increase in
relation to the financial year 2013.
The
gross operating margin of the latest financial year is of Eur. 1.064.609 ,
stable if compared to the year before.
The
financial status of the company is fairly balanced with an indebtedness level
of 1,12 but with an increase as against the previous accounting period.
It's
shareholders funds amount to Eur. 6.400.959 , unchanged if compared to 2013.
In
the year 2014 total debts amounted to Eur. 9.746.505 showing a stable trend as
opposed to 2013 (Eur. 9.631.576).
Bank
exsposure is limited and the suppliers' credit is modest too, 89,03 gg. is the
payment average period below the sector's average.
The
liquidity level is positive (1,62).
Trade
credits are collected slowly, average term is 140,73 days. and higher than the
average of the sector.
The
financial management generated a cash flow of Eur. 735.603.
Labour
cost expenses amount to Eur. 1.211.508 , representing 6,62% on the total of
production costs. , whereas the incidence on sales revenues is of 6,44%.
Financial
incomes cover financial charges.
Financial
Data
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
18.800.998 |
|
Profit
(Loss) for the period |
599.105 |
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
18.995.822 |
|
Profit
(Loss) for the period |
610.049 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
19.140.799 |
|
Profit
(Loss) for the period |
602.241 |
|
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
21.808.619 |
|
Profit
(Loss) for the period |
615.504 |
|
|
Complete
balance-sheet for the year |
al
31/12/2010 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
20.227.872 |
|
Profit
(Loss) for the period |
564.976 |
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 |
0,20 |
0,21 |
0,23 |
0,09 |
|
Elasticity
Ratio |
Units |
0,79 |
0,78 |
0,77 |
0,89 |
|
Availability
of stock |
Units |
0,15 |
0,14 |
0,11 |
0,26 |
|
Total
Liquidity Ratio |
Units |
0,64 |
0,64 |
0,66 |
0,54 |
|
Quick
Ratio |
Units |
0,07 |
0,03 |
0,04 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
1,12 |
1,11 |
1,13 |
3,95 |
|
Self
Financing Ratio |
Units |
0,37 |
0,37 |
0,37 |
0,17 |
|
Capital
protection Ratio |
Units |
0,80 |
0,79 |
0,78 |
0,62 |
|
Liabilities
consolidation quotient |
Units |
0,23 |
0,41 |
0,34 |
0,10 |
|
Financing |
Units |
1,52 |
1,58 |
1,57 |
4,85 |
|
Permanent
Indebtedness Ratio |
Units |
0,49 |
0,55 |
0,52 |
0,29 |
|
M/L
term Debts Ratio |
Units |
0,11 |
0,18 |
0,15 |
0,07 |
|
Net
Financial Indebtedness Ratio |
Units |
0,63 |
0,51 |
0,43 |
1,04 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
2,43 |
2,62 |
2,31 |
2,37 |
|
Current
ratio |
Units |
1,62 |
1,81 |
1,68 |
1,18 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
1,31 |
1,49 |
1,43 |
0,80 |
|
Structure's
primary quotient |
Units |
1,86 |
1,76 |
1,63 |
1,48 |
|
Treasury's
primary quotient |
Units |
0,14 |
0,06 |
0,09 |
0,04 |
|
Rate
of indebtedness ( Leverage ) |
% |
268,05 |
271,76 |
270,83 |
602,26 |
|
Current
Capital ( net ) |
Value |
5.218.228 |
5.799.839 |
4.854.999 |
191.984 |
|
RETURN |
|||||
|
Return
on Sales |
% |
3,91 |
4,03 |
3,79 |
2,03 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
9,36 |
10,00 |
10,40 |
6,31 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
14,56 |
15,78 |
16,12 |
17,00 |
|
Return
on Investment ( R.O.I. ) |
% |
5,41 |
5,99 |
5,88 |
4,18 |
|
Return/
Sales |
% |
4,94 |
5,23 |
4,82 |
3,46 |
|
Extra
Management revenues/charges incid. |
% |
64,55 |
61,37 |
65,29 |
27,96 |
|
Cash
Flow |
Value |
735.603 |
765.456 |
725.280 |
44.823 |
|
Operating
Profit |
Value |
928.111 |
993.982 |
922.389 |
74.603 |
|
Gross
Operating Margin |
Value |
1.064.609 |
1.149.389 |
1.045.428 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
140,73 |
145,99 |
141,27 |
113,70 |
|
Debts
to suppliers average term |
Days |
89,03 |
123,35 |
127,69 |
118,14 |
|
Average
stock waiting period |
Days |
50,51 |
43,50 |
33,09 |
72,90 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,10 |
1,15 |
1,22 |
1,25 |
|
Rate
of stock return |
Units |
7,13 |
8,28 |
10,88 |
4,88 |
|
Labour
cost incidence |
% |
6,44 |
6,45 |
6,38 |
8,14 |
|
Net
financial revenues/ charges incidence |
% |
0,03 |
-0,19 |
-0,23 |
-1,38 |
|
Labour
cost on purchasing expenses |
% |
6,62 |
6,57 |
6,91 |
8,25 |
|
Short-term
financing charges |
% |
0,52 |
0,82 |
1,01 |
2,76 |
|
Capital
on hand |
% |
91,26 |
87,30 |
81,95 |
79,85 |
|
Sales
pro employee |
Value |
508.135 |
499.890 |
503.705 |
397.742 |
|
Labour
cost pro employee |
Value |
32.743 |
32.249 |
32.118 |
33.267 |
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 9.175 significant companies.
The
companies cash their credits on an average of 114 dd.
The
average duration of suppliers debts is about 118 dd.
The
sector's profitability is on an average of 2,03%.
The
labour cost affects the turnover in the measure of 8,14%.
Goods
are held in stock in a range of 73 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,25.
The
employees costs represent the 8,25% of the production costs.
Statistical
Detrimental Data
Statistically
the trade activity passes through serious crises.
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.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.