MIRA
INFORM REPORT
|
Report No. : |
346060 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAYS S.P.A. |
|
|
|
|
Registered Office : |
Via Francesco Crispi, 26 Localita' Scaricalasino
60027 - Osimo (AN) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.06.1993 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Wholesale of medical and orthopaedic
products. |
|
|
|
|
No. of Employee : |
From 26 to 35 |
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
|
RAYS S.P.A. |
|
Via Francesco Crispi, 26 LOCALITA'
SCARICALASINO 60027 - Osimo (AN) -IT- |
Summary
|
Fiscal Code |
: |
01316780426 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
11/06/1993 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Wholesale of medical and orthopaedic products
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 01316780426 |
|
Chamber of Commerce no. : 123086 of Ancona since
25/03/1993 |
|
Chamber of Commerce no. : 208196 of Bolzano |
|
Chamber of Commerce no. : 402281 of Verona |
|
Firms' Register : AN002-21190 of Ancona |
|
V.A.T. Code : 01316780426 |
|
Establishment date |
: 09/03/1993 |
|
|
Start of Activities |
: 11/06/1993 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 1.100.000 |
|
|
Subscribed Capital |
: 1.100.000 |
|
|
Paid up Capital |
: 1.100.000 |
|
|
Legal mail : |
RAYSSRL@SICUREZZAPOSTALE.IT |
Members
|
|
Marconi |
Stefano |
|
|
|
Born in Ancona |
(AN) |
on 08/02/1961 |
- Fiscal Code : MRCSFN61B08A271B |
|
|
|
Residence: |
|
Bernabei |
, 13 |
- 60100 |
Ancona |
(AN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2015 |
|
|
|
Board Chairman |
29/06/2015 |
|
|
|
Managing Director |
29/06/2015 |
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Aemme Immobiliare S.r.l. |
|
|
|
|
|
|
: |
|
Francesco Crispi |
, 26 |
- 60027 |
Osimo |
(AN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
|
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Marconi |
Andrea |
|
|
|
Born in Loreto |
(AN) |
on 06/06/1990 |
- Fiscal Code : MRCNDR90H06E690D |
|
|
|
Residence: |
|
Lazzaro Bernabei |
, 13 |
- 60121 |
Ancona |
(AN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2015 |
|
|
|
|
Guidi |
Irene |
|
|
|
Born in Ancona |
(AN) |
on 27/11/1967 |
- Fiscal Code : GDURNI67S67A271S |
|
|
|
Residence: |
|
Pompeo Compagnoni |
, 13 |
- 60027 |
Osimo |
(AN) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
01/04/2014 |
|
|
|
Director |
29/06/2015 |
|
|
|
Managing Director |
29/06/2015 |
|
|
|
|
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.
|
|
Marconi |
Stefano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Aemme Immobiliare S.r.l. |
Osimo (AN) - IT - |
02303870428 |
Director |
Active |
Registered |
|
Aemme Immobiliare S.r.l. |
Osimo (AN) - IT - |
02303870428 |
Sole Director |
Withdrawn |
Registered |
|
Aemme Immobiliare S.r.l. |
Osimo (AN) - IT - |
02303870428 |
Sole partner |
Withdrawn |
Registered |
|
Aemme Immobiliare S.r.l. |
Osimo (AN) - IT - |
02303870428 |
Board Chairman |
Active |
Registered |
|
Marconi Stefano Rappresentanze |
Osimo (AN) - IT - |
MRCSFN61B08A271B |
Proprietor |
Active |
Registered |
|
Innotek Srl In Liquidazione |
Ancona (AN) - IT - |
02370770428 |
Director |
Withdrawn |
Registered |
|
Innotek Srl In Liquidazione |
Ancona (AN) - IT - |
02370770428 |
Liquidator |
Withdrawn |
Registered |
|
Innotek Srl In Liquidazione |
Ancona (AN) - IT - |
02370770428 |
Board Chairman |
Withdrawn |
Registered |
|
Technosafe S.r.l. In Liquidazione |
Osimo (AN) - IT - |
02310470428 |
Liquidator |
Withdrawn |
Registered |
|
Mediflex S.r.l. |
Osimo (AN) - IT - |
02303840421 |
Sole Director |
Withdrawn |
Registered |
|
"in4 Hospital Service - Societa' A
RespoNsabilita' Limitata" |
Roma (RM) - IT - |
09943451006 |
Sole Director |
Withdrawn |
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 |
|
Marconi Stefano |
Ancona - IT - |
MRCSFN61B08A271B |
110.000 .Eur |
10,00 |
|
Aemme Immobiliare S.r.l. |
Osimo - IT - |
02303870428 |
990.000 .Eur |
90,00 |
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 |
|
Centro Commerciale Ancona Sud - S.p.a. |
Ancona - IT - |
00858830425 |
18.077 .Eur |
0,50 |
|
|
Active |
|
Ilc Societa' A Responsabilita' Limitata |
|
02400210460 |
100.000 .Eur |
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 |
|
|
|
|
|
|
|
Francesco Crispi |
, 26 |
- 60027 |
- Osimo |
(AN) |
- IT - |
|
|
|
|
Legal mail |
: RAYSSRL@SICUREZZAPOSTALE.IT |
|
- |
Branch |
(Warehouse) |
since 26/11/2013 |
|
|
|
|
|
Via Stazione |
, 51 |
- 39044 |
- Egna |
(BZ) |
- IT - |
|
|
|
|
Employees |
: 26 |
|
|
|
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
52.000 |
Eur |
|
Stocks for a value of 11.840.000 |
Eur |
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.
Financial and
Economical Analysis
Subject is active since 1993
An eco-fin analysis has been made on the base
od the b/s fo the years 2012, 2013 and 2014.
Under an economic point of view, profits were
registered during the last years with a r.o.e. of 22,79% in 2014 thanks to a
progressive increase in turnover (+16,84% in 2014 compared to 2013 and +19,33%
in 2013 compared to 2012).
The return on Investment in the last
financial year was positive (12,27%) and in line with the sector's average.
The amount of the operating result is equal
to Eur. 3.623.690 ,showing stability in respect to the value of 2013.
The gross operating margin of the latest
financial year is of Eur. 4.034.507 ,with no change if compared to the year
before.
The financial status of the company is fairly
balanced with an indebtedness level of 1,4 but with an increase as against the
previous accounting period.
With regard to equity capital, an amount of
Eur. 10.126.283 is registered. , increasing by 21,72% if compared to the year
before.
During the last financial year total debts
volume reached Eur. 18.870.733 (Eur. 2.321.710 were m/l term ones) increasing
if compared to the previous year, during which they were equal to Eur.
13.610.218 (38,65%).
The company does not exceed in bank credits;
payments average period is instead slightly high (113,94 gg.) however still
within the sector's average.
The available funds are good.
Trade credits are collected slowly, average
term is 158,36 days. even if compared to the average of the sector.
The financial management generated a cash flow
of Eur. 2.718.175.
Labour cost amounts to Eur. 762.660, with a
2,76% incidence on production costs. and a 2,47% incidence on sales volumes.
The financial
management has a limited economic impact, equal to -0,59% on the sales.
Financial Data
|
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
30.891.003 |
|
Profit (Loss) for the period |
2.307.358 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
26.436.927 |
|
Profit (Loss) for the period |
1.901.446 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
22.154.322 |
|
Profit (Loss) for the period |
843.722 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
19.631.909 |
|
Profit (Loss) for the period |
390.334 |
|
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.914.606 |
|
Profit (Loss) for the period |
495.985 |
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 |
0,03 |
0,05 |
0,05 |
0,09 |
|
Elasticity Ratio |
Units |
0,96 |
0,95 |
0,94 |
0,89 |
|
Availability of stock |
Units |
0,40 |
0,33 |
0,28 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,56 |
0,62 |
0,67 |
0,54 |
|
Quick Ratio |
Units |
0,08 |
0,06 |
0,02 |
0,03 |
|
COMPOSITION ON SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
1,40 |
1,31 |
2,13 |
3,95 |
|
Self Financing Ratio |
Units |
0,34 |
0,37 |
0,30 |
0,17 |
|
Capital protection Ratio |
Units |
0,66 |
0,64 |
0,71 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,12 |
0,08 |
0,10 |
|
Financing |
Units |
1,86 |
1,64 |
2,33 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,43 |
0,44 |
0,35 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,08 |
0,07 |
0,05 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,46 |
0,59 |
1,57 |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
12,68 |
8,67 |
6,44 |
2,37 |
|
Current ratio |
Units |
1,72 |
1,73 |
1,45 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,01 |
1,14 |
1,03 |
0,80 |
|
Structure's primary quotient |
Units |
10,22 |
7,35 |
5,52 |
1,48 |
|
Treasury's primary quotient |
Units |
0,15 |
0,11 |
0,03 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
291,69 |
269,61 |
336,33 |
602,26 |
|
Current Capital ( net ) |
Value |
11.929.242 |
8.986.951 |
6.631.972 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
8,80 |
8,63 |
5,46 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
22,79 |
22,86 |
12,56 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
34,10 |
36,64 |
19,90 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
12,27 |
13,83 |
6,21 |
4,18 |
|
Return/ Sales |
% |
11,73 |
11,74 |
6,34 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
63,67 |
61,28 |
60,12 |
27,96 |
|
Cash Flow |
Value |
2.718.175 |
2.282.256 |
1.209.739 |
44.823 |
|
Operating Profit |
Value |
3.623.690 |
3.102.803 |
1.403.493 |
74.603 |
|
Gross Operating Margin |
Value |
4.034.507 |
3.783.613 |
1.774.486 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
158,36 |
169,07 |
232,81 |
113,70 |
|
Debts to suppliers average term |
Days |
113,94 |
80,90 |
54,65 |
118,14 |
|
Average stock waiting period |
Days |
137,94 |
99,84 |
101,48 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,05 |
1,18 |
0,98 |
1,25 |
|
Rate of stock return |
Units |
2,61 |
3,61 |
3,55 |
4,88 |
|
Labour cost incidence |
% |
2,47 |
2,55 |
3,06 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-0,59 |
-0,10 |
0,08 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
2,76 |
2,88 |
3,26 |
8,25 |
|
Short-term financing charges |
% |
2,11 |
2,36 |
1,48 |
2,76 |
|
Capital on hand |
% |
95,62 |
84,84 |
101,98 |
79,85 |
|
Sales pro employee |
Value |
1.343.087 |
1.258.901 |
1.054.967 |
397.742 |
|
Labour cost pro employee |
Value |
33.159 |
32.069 |
32.297 |
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 |
: |
|
461.345Monthly 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
Statistcally the trade activity shows periods
of crisis.
The area is statistically considered
moderately risky.
In the region 9.333 protested subjects are
found; in the province they count to 2.315.
The insolvency index for the region is 0,62,
, while for the province it is 0,51.
Total Bankrupt companies in the province :
855.
Total Bankrupt companies in the region :
6.005.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.72.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.