MIRA INFORM REPORT
|
Report No. : |
347080 |
|
Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CAMA 1 SPA |
|
|
|
|
Registered Office : |
Via Pisani Vittor, 12/A 20124 - Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.01.1981 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
Manufacture of automatic machines for dosing,
wrapping and packaging (including seperate parts and accessories). |
|
|
|
|
No. of Employee : |
From 111 to 130 |
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 |
|
Maximum Credit Limit : |
EUR 250.000 - |
|
|
|
|
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
|
CAMA 1 SPA |
|
Via Pisani Vittor, 12/A 20124 - Milano (MI) -IT- |
Summary
|
Fiscal Code |
: |
06097510157 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
Foundation Date |
: |
01/01/1981 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 111 to 130 |
|
Credit Opinion |
: |
250.000 - |
Activity
Manufacture of automatic machines for dosing,
wrapping and packaging (including seperate parts and accessories)
Legal Data
Legal Form : Joint stock company with sole
shareholder
|
Fiscal Code : 06097510157 |
|
Foreign Trade Reg. no. : MI160073 since
26/05/1992 |
|
Foreign Trade Reg. no. : 160073 of Milano
since 26/05/1992 |
|
Chamber of Commerce no. : 189416 of Lecco |
|
Chamber of Commerce no. : 1067186 of Milano
since 07/05/1981 |
|
Firms' Register : MI146-203125 of Milano
since 19/02/1996 |
|
V.A.T. Code : 06097510157 |
|
Foundation date |
: 01/01/1981 |
|
|
Establishment date |
: 23/03/1981 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.500.012 |
|
|
Subscribed Capital |
: 1.500.012 |
|
|
Paid up Capital |
: 1.500.012 |
|
Legal mail : |
CAMA1SPA@LEGALMAIL.IT |
Members
|
|
Balconi |
Massimo |
|
|
Born in Vimercate |
(MB) |
on 19/12/1963 |
- Fiscal Code : BLCMSM63T19M052Z |
|
|
Residence: |
Salvo D'acquisto |
, 31 |
- 23868 |
Valmadrera |
(LC) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Auditor |
29/06/2015 |
|
|
Bellante |
Daniele |
|
|
Born in Milano |
(MI) |
on 18/10/1975 |
- Fiscal Code : BLLDNL75R18F205S |
|
|
Residence: |
Loc. San Felice, Prima Strada |
, 32 |
- 20090 |
Segrate |
(MI) |
- 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 |
|
|
Bellante |
Annalisa |
|
|
Born in Milano |
(MI) |
on 05/01/1969 |
- Fiscal Code : BLLNLS69A45F205L |
|
|
Residence: |
Ottava Strada |
, 35 |
- 20068 |
Peschiera Borromeo |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2015 |
|
|
Crippa |
Liliana |
|
|
Born in Milano |
(MI) |
on 05/03/1941 |
- Fiscal Code : CRPLLN41C45F205E |
|
|
Residence: |
Cristei |
, 25 |
- 20090 |
Segrate |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/06/2015 |
|
|
Cama Holding S.r.l. |
|
|
: |
Vittor Pisani |
, 12/A |
- 20124 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
21/12/2011 |
|
|
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.
|
Bellante |
Daniele |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
GECA SRL |
MILANO (MI) - IT - |
09200140151 |
Board Chairman |
Withdrawn |
Registered |
|
ELECTROSERVICE S.R.L. |
Milano (MI) - IT - |
12285040155 |
Sole Director |
Withdrawn |
Registered |
|
Cama Real Estate S.r.l. |
Milano (MI) - IT - |
04768680961 |
Director |
Active |
Registered |
|
Cama Holding S.r.l. |
Milano (MI) - IT - |
07639760961 |
Director |
Active |
Registered |
|
Cama Holding S.r.l. |
Milano (MI) - IT - |
07639760961 |
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 |
|
Cama Holding S.r.l. |
Milano - IT - |
07639760961 |
100,00 |
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 |
|
Apicaf S.p.a. |
Varese - IT - |
02522640123 |
1 .Eur |
Active |
|||
|
Cama Real Estate S.r.l. |
Milano - IT - |
04768680961 |
500 .Eur |
5,00 |
Active |
||
|
Processing E Packaging: The High-tech I
talian Way |
Milano - IT - |
08046220961 |
Active |
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
Pisani Vittor |
, 12/A |
- 20100 |
- Milano |
(MI) |
- IT - |
|
Legal mail |
: CAMA1SPA@LEGALMAIL.IT |
|
- |
Branch |
(Factory) |
since 12/06/1981 |
|
Como |
- 22040 |
- Garbagnate Monastero |
(LC) |
- IT - |
|
PHONE |
: 031879811 |
|
- |
Branch |
(Representative office) |
since 01/11/2012 |
|
Park Ventures E. Wereless Road |
, 57 |
- Pathum Wan - Bangkok |
- IT - |
|
Employees |
: 129 |
|
Fittings and Equipment for a value of
110.000 |
Eur |
|
Stocks for a value of 12.750.000 |
Eur |
|
Work in progress for a value of 8.490.000 |
Eur |
The firm operates abroad as exporter..
Export represents more than 50% of the global
turnover.
Products abroad are placed by :
|
- direct orders from foreign companies |
Export is mainly towards:
|
- Italy |
|
- France |
Historical
Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Other forms |
Joint stock company |
11/03/1988 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorved |
|
|
|
|
ACCADEMIA |
, 19 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 10193800157 |
|
|
Date |
: |
06/11/2003 |
|
|
Project of merging by taking over of |
|
|
|
|
ACCADEMIA |
, 19 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 10193800157 |
|
|
Date |
Merging/splitting-up project: |
12/05/2003 |
|
|
The firm absorbed by merging of |
|
|
|
|
ACCADEMIA |
, 19 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 10193800157 |
|
|
Date |
: |
06/11/2003 |
|
|
Project of merging by taking over of |
|
|
|
|
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 12285040155 |
|
|
Date |
Merging/splitting-up project: |
12/07/2007 |
|
|
The firm absorbed by merging of |
|
|
|
|
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 12285040155 |
|
|
Date |
: |
24/10/2007 |
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 1981
Balance sheets for the years 2012, 2013 and
2014 were analyzed.
During the last years, it achieved profits
(r.o.e. 32,19% on 2014) with a stable trend in the turnover.
The operating result was positive in the last
financial year (11,17%) falling within the field's average.
The amount of the operating result for the
year 2014 is of Eur. 5.164.258 with no increase in relation to the financial
year 2013.
The gross operating margin of the latest
financial year is of Eur. 6.686.418 , stable if compared to the year before.
The financial status of the company is fairly
balanced with an indebtedness level of 2,52 and decreasing as against 2013.
It's shareholders funds amount to Eur.
9.516.568 with a growth of 31,71% in 2014.
The financial management has recorded total
debts amounting to Eur. 32.848.686, with no important change.
Moderate recourse to bank credit while the
exposure towards suppliers is rather high even if it still falls within the
sector's average.
Liquidity is good (1,28)
Trade credits are collected slowly, average
term is 96,64 days. , as it normally happens in the sector.
Eur. 3.662.434 is the value of cash flow
during the year 2014
Labour cost expenses amount to Eur. 9.878.110
, representing 15,95% on the total of production costs. , whereas 15,35% is the
incidence on sales revenues.
Limited financial charges in relation to
sales volume.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
64.342.755 |
|
Profit (Loss) for the period |
3.063.224 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
63.340.303 |
|
Profit (Loss) for the period |
2.997.974 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
55.909.279 |
|
Profit (Loss) for the period |
2.701.029 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
49.630.844 |
|
Profit (Loss) for the period |
2.291.264 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
40.343.671 |
|
Profit (Loss) for the period |
1.454.656 |
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 |
0,09 |
0,11 |
0,18 |
|
Elasticity Ratio |
Units |
0,91 |
0,91 |
0,88 |
0,79 |
|
Availability of stock |
Units |
0,28 |
0,23 |
0,32 |
0,21 |
|
Total Liquidity Ratio |
Units |
0,63 |
0,67 |
0,57 |
0,52 |
|
Quick Ratio |
Units |
0,19 |
0,22 |
0,11 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,52 |
3,62 |
3,24 |
3,01 |
|
Self Financing Ratio |
Units |
0,21 |
0,15 |
0,19 |
0,19 |
|
Capital protection Ratio |
Units |
0,50 |
0,38 |
0,45 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,08 |
0,07 |
0,08 |
0,16 |
|
Financing |
Units |
3,45 |
5,09 |
3,81 |
3,56 |
|
Permanent Indebtedness Ratio |
Units |
0,27 |
0,20 |
0,25 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,05 |
0,06 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,69 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,94 |
2,31 |
2,23 |
1,65 |
|
Current ratio |
Units |
1,28 |
1,19 |
1,21 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,89 |
0,88 |
0,77 |
0,86 |
|
Structure's primary quotient |
Units |
2,28 |
1,70 |
1,70 |
1,02 |
|
Treasury's primary quotient |
Units |
0,27 |
0,29 |
0,15 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
485,86 |
666,03 |
522,53 |
509,92 |
|
Current Capital ( net ) |
Value |
9.072.597 |
6.962.054 |
6.101.314 |
330.495 |
|
RETURN |
|||||
|
Return on Sales |
% |
5,69 |
5,65 |
6,55 |
3,79 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
32,19 |
41,49 |
35,65 |
6,70 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
51,61 |
68,98 |
57,38 |
18,82 |
|
Return on Investment ( R.O.I. ) |
% |
11,17 |
10,63 |
10,42 |
4,89 |
|
Return/ Sales |
% |
8,03 |
8,08 |
7,38 |
4,78 |
|
Extra Management revenues/charges incid. |
% |
59,32 |
58,60 |
65,50 |
29,96 |
|
Cash Flow |
Value |
3.662.434 |
3.579.203 |
3.662.048 |
165.166 |
|
Operating Profit |
Value |
5.164.258 |
5.115.827 |
4.123.840 |
225.594 |
|
Gross Operating Margin |
Value |
6.686.418 |
7.217.207 |
5.811.490 |
376.080 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
96,64 |
117,66 |
108,53 |
111,07 |
|
Debts to suppliers average term |
Days |
114,67 |
155,83 |
127,93 |
127,44 |
|
Average stock waiting period |
Days |
71,34 |
64,03 |
81,23 |
62,88 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,39 |
1,32 |
1,41 |
1,10 |
|
Rate of stock return |
Units |
5,05 |
5,62 |
4,43 |
5,58 |
|
Labour cost incidence |
% |
15,35 |
14,65 |
15,22 |
18,94 |
|
Net financial revenues/ charges incidence |
% |
-0,08 |
-0,16 |
0,06 |
-1,15 |
|
Labour cost on purchasing expenses |
% |
15,95 |
15,92 |
16,02 |
18,99 |
|
Short-term financing charges |
% |
0,35 |
0,59 |
0,24 |
2,55 |
|
Capital on hand |
% |
71,86 |
75,97 |
70,82 |
90,89 |
|
Sales pro employee |
Value |
208.905 |
218.414 |
210.185 |
199.007 |
|
Labour cost pro employee |
Value |
32.071 |
32.002 |
32.000 |
34.820 |
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 1.964
significant companies.
The companies cash their credits on an
average of 111 dd.
The average duration of suppliers debts is
about 127 dd.
The sector's profitability is on an average
of 3,79%.
The labour cost affects the turnover in the
measure of 18,94%.
Goods are held in stock in a range of 63 dd.
The difference between the sales volume and
the resources used to realize it is about 1,10.
The employees costs represent the 18,99% 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 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
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.