|
Report No. : |
347659 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXECUTIVE S.R.L. |
|
|
|
|
Registered Office : |
Largo Del Commercio, 103, 24040 - Pagazzano (BG) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
10.04.1980 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of machinery for the
food, beverage and tobacco industries |
|
|
|
|
No. of Employees : |
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 |
|
Maximum Credit Limit : |
250.000 Eur. |
|
|
|
|
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 |
EXECUTIVE S.R.L.
Largo Del Commercio, 103
24040 - Pagazzano (BG) -IT-
|
Fiscal Code |
: |
01224240166 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
10/05/1980 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
6.500.000/7.750.000 |
|
Number of Employees |
: |
from 26 to 35 |
|
Credit Opinion |
: |
250.000 - |
Manufacture of machinery for the
food, beverage and tobacco industries
Legal Form : Limited liability
company
|
Fiscal Code : 01224240166 |
|
Foreign Trade Reg. no. : BG023797
since 27/03/1992 |
|
Foreign Trade Reg. no. : 023797 of
Bergamo since 27/03/1992 |
|
Chamber of Commerce no. : 183001
of Bergamo since 10/05/1980 |
|
V.A.T. Code : 01224240166 |
|
Tribunal Co. Register : 15958 of |
|
Foundation date |
: 10/04/1980 |
|
|
Establishment date |
: 10/04/1980 |
|
|
Start of Activities |
: 10/05/1980 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
|
Paid up Capital |
: 100.000 |
|
Legal mail : |
INFO@PEC.EXECUTIVE-CANDY.COM |
|
|
Rizzi |
Rodolfo |
|
|
Born in Cortenuova |
( ) |
on 17/06/1941 |
- Fiscal Code : RZZRLF41H17D066W |
|
|
Residence: |
Vittorio Emanuele Ii |
, 2 |
- 24047 |
Treviglio |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
16/11/2009 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Rizzi |
Giulia |
|
|
Born in Bergamo |
(BG) |
on 30/06/1978 |
- Fiscal Code : RZZGLI78H70A794D |
|
|
Residence: |
Vittorio Emanuele Ii |
, 2 |
- 24047 |
Treviglio |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
07/09/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Rizzi |
Silvana |
|
|
Born in Bergamo |
(BG) |
on 18/01/1970 |
- Fiscal Code : RZZSVN70A58A794S |
|
|
Residence: |
Vittorio Emanuele Ii |
, 2 |
- 24047 |
Treviglio |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
07/09/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Di Mitrio Grazia |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*checkings have been performed on a
national scale.
In this module the companies in
which members hold/held positions are listed.
The Members of the subject firm are
not reported to be Members in other companies.
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Rizzi Rodolfo |
Treviglio - IT - |
RZZRLF41H17D066W |
4.000 .Eur |
4,00 |
|
Rizzi Giulia |
Treviglio - IT - |
RZZGLI78H70A794D |
20.000 .Eur |
20,00 |
|
Rizzi Silvana |
Treviglio - IT - |
RZZSVN70A58A794S |
25.000 .Eur |
25,00 |
|
Di Mitrio Grazia |
DMTGRZ44D58C514L |
51.000 .Eur |
51,00 |
The Company under review has no
participations in other Companies.
In order to carry out its activities
the firm uses the following locations:
|
- |
Legal and operative seat |
since 10/05/1980 |
|
Del Commercio |
, 103 |
- 24040 |
- Pagazzano |
(BG) |
- IT - |
|
PHONE |
: 0363814822 |
|
Legal mail |
: INFO@PEC.EXECUTIVE-CANDY.COM |
|
Employees |
: 30 |
|
Fittings and Equipment for a value
of 620.000 |
Eur |
|
Stocks for a value of 83.000 |
Eur |
|
Furniture and fittings for a value
of 15.000 |
Eur |
The firm operates abroad as importer
/ exporter..
Export represents more than 50% of
the global turnover.
Products abroad are placed by :
|
- importers |
Import comes generally from the
following nations:
|
- Austria |
|
- Belgium |
Export is mainly towards:
|
- Hungary |
|
- Cyprus |
|
- |
Protests checking on the subject
firm has given a negative result.
Search performed on a National Scale
|
|
Prejudicial Events Search Result:
NEGATIVE |
Search performed on a specialized
data base.
None reported, standing to the
latest received edition of the Official Publications.
Company's starting of activities
dates back to 1980.
The eonomic-financial analysis is
based on the latest 3 b/s.
Under an economic point of view,
profits were registered during the last years with a r.o.e. of 27,02% in 2014
with an increase in 2014 (+32,37%).
The operating result in 2014 was
positive (10,36%) and in line with the sector's average.
The amount of the operating result
for the year 2014 is of Eur. 807.377 on stable levels if compared to the
previous year.
A gross operating margine for a
value of Eur. 1.098.534 was reached. ,with no change if compared to the year
before.
Excellent equity structure since
liquidity is higher than short term liabilities.
With regard to equity capital, an
amount of Eur. 1.908.985 is registered. , stable in comparison with the value
of the previous year.
Total debts recorded amounted to
Eur. 5.293.457 (Eur. 1.523.807 of which were m/l term debts) on the same levels
as the year before.
Available funds are good.
The financial management generated a
cash flow of Eur. 807.026.
Labour cost expenses amount to Eur.
1.563.677 , representing 24,92% on the total of production costs. , whereas the
incidence on sales revenues is of 22,09%.
Limited financial charges in
relation to sales volume.
|
|
Complete balance-sheet for the
year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.079.480 |
|
Profit (Loss) for the period |
515.869 |
|
|
Complete balance-sheet for the
year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.348.242 |
|
Profit (Loss) for the period |
408.572 |
|
|
Complete balance-sheet for the
year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.302.585 |
|
Profit (Loss) for the period |
562.465 |
|
|
Complete balance-sheet for the
year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.004.921 |
|
Profit (Loss) for the period |
342.056 |
|
|
Complete balance-sheet for the
year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.266.125 |
|
Profit (Loss) for the period |
307.479 |
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 |
0,36 |
0,45 |
0,49 |
0,18 |
|
Elasticity Ratio |
Units |
0,63 |
0,52 |
0,50 |
0,80 |
|
Availability of stock |
Units |
0,01 |
0,01 |
0,01 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,62 |
0,51 |
0,48 |
0,48 |
|
Quick Ratio |
Units |
0,51 |
0,42 |
0,28 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
n.c. |
n.c. |
0,37 |
3,25 |
|
Self Financing Ratio |
Units |
0,24 |
0,27 |
0,29 |
0,19 |
|
Capital protection Ratio |
Units |
0,68 |
0,72 |
0,66 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,56 |
0,88 |
0,82 |
0,19 |
|
Financing |
Units |
2,77 |
2,47 |
2,16 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,51 |
0,61 |
0,61 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,27 |
0,34 |
0,32 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,44 |
1,34 |
1,23 |
1,75 |
|
Current ratio |
Units |
1,30 |
1,33 |
1,29 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,27 |
1,30 |
1,26 |
0,81 |
|
Structure's primary quotient |
Units |
0,69 |
0,59 |
0,59 |
1,03 |
|
Treasury's primary quotient |
Units |
1,05 |
1,08 |
0,72 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
408,34 |
375,76 |
342,40 |
516,42 |
|
Current Capital ( net ) |
Value |
1.117.119 |
870.308 |
740.196 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
11,40 |
12,76 |
10,54 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
27,02 |
22,79 |
28,85 |
5,13 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
41,90 |
36,76 |
44,74 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
10,36 |
10,01 |
13,08 |
4,16 |
|
Return/ Sales |
% |
11,40 |
12,62 |
11,96 |
4,11 |
|
Extra Management revenues/charges
incid. |
% |
63,89 |
60,55 |
64,40 |
28,57 |
|
Cash Flow |
Value |
807.026 |
682.436 |
770.027 |
122.482 |
|
Operating Profit |
Value |
807.377 |
674.773 |
873.393 |
144.752 |
|
Gross Operating Margin |
Value |
1.098.534 |
948.637 |
1.080.955 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
4,20 |
4,76 |
3,63 |
80,43 |
|
Rate of capital employed return (
Turnover ) |
Units |
0,91 |
0,79 |
1,09 |
1,08 |
|
Rate of stock return |
Units |
85,79 |
75,70 |
99,11 |
4,45 |
|
Labour cost incidence |
% |
22,09 |
28,75 |
21,07 |
19,12 |
|
Net financial revenues/ charges
incidence |
% |
-0,19 |
-0,53 |
-0,68 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
24,92 |
32,83 |
22,06 |
19,02 |
|
Short-term financing charges |
% |
0,66 |
0,80 |
1,23 |
2,68 |
|
Capital on hand |
% |
110,11 |
125,98 |
91,41 |
91,91 |
|
Sales pro employee |
Value |
147.489 |
111.421 |
152.137 |
198.432 |
|
Labour cost pro employee |
Value |
32.576 |
32.031 |
32.056 |
35.779 |
On the basis of the above mentioned,
and the sales volume obtained, we deem that the maximum exposure for short and
medium term transactions (90 - 120 days ) could be of:
250.000 Eur.
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.
|
Population living in the province |
: |
1.022.428 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in
the region (in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
The values are calculated on a base of
1.206 significant companies.
The companies cash their credits on
an average of 112 dd.
The average duration of suppliers
debts is about 128 dd.
The sector's profitability is on an
average of 3,35%.
The labour cost affects the turnover
in the measure of 19,12%.
Goods are held in stock in a range
of 80 dd.
The difference between the sales
volume and the resources used to realize it is about 1,08.
The employees costs represent the
19,02% of the production costs.
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 4.150.
The insolvency index for the region
is 0,55, , while for the province it is 0,41.
Total Bankrupt companies in the
province : 4.376.
Total Bankrupt companies in the
region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.04 |
|
|
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.