MIRA INFORM REPORT
|
Report No. : |
338078 |
|
Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
FK GROUP SRL |
|
|
|
|
Registered Office : |
Via Friuli, 21, 24044 – Dalmine (BG) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
03.04.1981 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of textile machinery, machinery and systems for auxiliary
treatment of textiles, sewing and weaving machines (including spare parts and
accessories) |
|
|
|
|
No. of Employees : |
From 26 to 35 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 & address
FK GROUP SRL
Via Friuli, 21
24044 - Dalmine (BG) -IT-
Summary
|
Fiscal Code |
: |
00934520164 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
03/04/1981 |
|
Equity |
: |
200.000 |
|
Turnover Range |
: |
7.750.000/9.000.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Manufacture of textile machinery, machinery and systems for auxiliary
treatment of textiles, sewing and weaving machines (including spare parts and
accessories)
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 00934520164 |
|
Foreign Trade Reg. no. : BG002049 since 09/12/1991 |
|
Foreign Trade Reg. no. : 2049 of Bergamo since 09/12/1991 |
|
Chamber of Commerce no. : 192031 of Bergamo since 04/06/1981 |
|
V.A.T. Code : 00934520164 |
|
Tribunal Co. Register : 18164 of |
|
Foundation date |
: 03/04/1981 |
|
|
Establishment date |
: 03/04/1981 |
|
|
Start of Activities |
: 03/04/1981 |
|
|
Legal duration |
: 30/12/2050 |
|
|
Nominal Capital |
: 70.000 |
|
|
Subscribed Capital |
: 70.000 |
|
|
Paid up Capital |
: 70.000 |
|
Legal mail : |
FKGROUP@PEC.FKGROUP.COM |
Members
|
|
Cattini |
Flavio |
|
|
Born in Carpi |
(MO) |
on 30/10/1938 |
- Fiscal Code : CTTFLV38R30B819H |
|
|
Residence: |
Baschenis |
, 7 |
- 24100 |
Bergamo |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/06/2013 |
||
|
Managing Director |
31/03/2014 |
||
|
Board Chairman |
02/12/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gori |
Sergio |
|
|
Born in Arezzo |
(AR) |
on 28/05/1961 |
- Fiscal Code : GROSRG61E28A390I |
|
|
Residence: |
Monte Cervino |
, 14/A |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
05/06/2013 |
||
|
Managing Director |
31/03/2014 |
|
|
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.
|
|
Cattini |
Flavio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
F.k. Systema S.r.l. |
Dalmine (BG) - IT - |
01817760166 |
Director |
Active |
Registered |
|
F.k. Systema S.r.l. |
Dalmine (BG) - IT - |
01817760166 |
Managing
Director |
Active |
Registered |
|
F.k. Systema S.r.l. |
Dalmine (BG) - IT - |
01817760166 |
Board Chairman |
Active |
Registered |
|
Susy 83 - S.a.s. Di Cattini Paolo E C. |
Osio Sotto (BG) - IT - |
01470750165 |
General Partner |
Withdrawn |
Registered |
|
Susy 83 - S.a.s. Di Cattini Paolo E C. |
Osio Sotto (BG) - IT - |
01470750165 |
Limited Partner |
Active |
Registered |
|
Immobiliare Cattini S.a.s. Di Paolo Cattini E C. |
Osio Sotto (BG) - IT - |
08015550158 |
General Partner |
Withdrawn |
Registered |
|
Immobiliare Cattini S.a.s. Di Paolo Cattini E C. |
Osio Sotto (BG) - IT - |
08015550158 |
Limited Partner |
Active |
Registered |
|
|
Gori |
Sergio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
F.k. Systema S.r.l. |
Dalmine (BG) - IT - |
01817760166 |
Director |
Active |
Registered |
|
F.k. Systema S.r.l. |
Dalmine (BG) - IT - |
01817760166 |
Managing
Director |
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 |
|
Cattini Flavio |
Bergamo - IT - |
CTTFLV38R30B819H |
35.000 .Eur |
50,00 |
|
Gori Sergio |
Arezzo - IT - |
GROSRG61E28A390I |
24.500 .Eur |
35,00 |
|
Good Solutions Srl |
01832050510 |
10.500 .Eur |
15,00 |
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 |
|
F.k. Systema S.r.l. |
Dalmine - IT - |
01817760166 |
46.800 .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 |
|
Friuli |
, 21 |
- 24044 |
- Dalmine |
(BG) |
- IT - |
|
PHONE |
: 035565633 |
|
FAX |
: 035564445 |
|
Legal mail |
: FKGROUP@PEC.FKGROUP.COM |
|
Employees |
: 28 |
|
Assistants |
: 2 |
|
Fittings and Equipment for a value of 46.000 |
Eur |
|
Stocks for a value of 1.020.000 |
Eur |
The firm operates abroad as exporter..
Export represents up to 20% of the global turnover.
Products abroad are placed by :
|
- its own agents |
Export is mainly towards:
|
- Italy |
|
- |
|
- Greece |
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
The economic-financial analysis has been made on the base of the b/s of
the latests three years.
Unstable economic results mark the company's financial state of affairs.
with a loss in the last financial year. The turnover is growing in the last
financial year (+16,29%).
The operating result was positive in the last financial year (4,75%)
falling within the field's average.
The amount of the operating result is equal to Eur. 210.296 increasing
if compared to the yeart 2013.
During the latest financial year the gross operating margin amounted to
Eur. 631.677 showing an upward trend if compared to 2013.
Financial condition is not balanced as own capitals do not cover debts,
indebtedness level is in fact high (19,16) which is anyway decreasing.
With regard to equity capital, an amount of Eur. 164.430 is registered.
with a growth of 503,14% in 2014.
During the last financial year debts totalled Eur. 3.650.596 (Eur.
26.233 of which were m/l term debts) 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 (1,03)
Trade credits average terms are 73,69 days. , lower than the sector's
average.
The financial management generated a cash flow of Eur. 368.915.
Labour cost expenses amount to Eur. 1.506.606 , representing 17,75% on
the total of production costs. and a 16,86% incidence on sales volumes.
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 |
8.938.495 |
|
Profit (Loss) for the period |
-52.466 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.685.827 |
|
Profit (Loss) for the period |
-189.631 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.986.482 |
|
Profit (Loss) for the period |
26.696 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.876.246 |
|
Profit (Loss) for the period |
-66.049 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.283.620 |
|
Profit (Loss) for the period |
104.242 |
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 |
0,15 |
0,32 |
0,24 |
0,18 |
|
Elasticity Ratio |
Units |
0,84 |
0,68 |
0,75 |
0,80 |
|
Availability of stock |
Units |
0,23 |
0,44 |
0,34 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,61 |
0,23 |
0,41 |
0,48 |
|
Quick Ratio |
Units |
0,11 |
0,23 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
19,16 |
n.c. |
6,10 |
3,25 |
|
Self Financing Ratio |
Units |
0,04 |
0,01 |
0,11 |
0,19 |
|
Capital protection Ratio |
Units |
0,89 |
12,34 |
0,77 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,16 |
n.c. |
0,35 |
0,19 |
|
Financing |
Units |
22,20 |
n.c. |
7,04 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,16 |
0,16 |
0,34 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,13 |
0,15 |
0,23 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,08 |
0,50 |
1,37 |
1,75 |
|
Current ratio |
Units |
1,03 |
n.c. |
1,15 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,75 |
n.c. |
0,63 |
0,81 |
|
Structure's primary quotient |
Units |
0,24 |
0,03 |
0,44 |
1,03 |
|
Treasury's primary quotient |
Units |
0,13 |
n.c. |
0,00 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
2692,20 |
11873,30 |
933,82 |
516,42 |
|
Current Capital ( net ) |
Value |
105.181 |
2.190.125 |
386.757 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,13 |
4,05 |
7,74 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-31,91 |
-695,59 |
6,36 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
45,25 |
-617,05 |
-0,14 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
4,75 |
-3,39 |
0,49 |
4,16 |
|
Return/ Sales |
% |
2,35 |
-1,43 |
0,38 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
-24,95 |
n.c. |
140,14 |
28,57 |
|
Cash Flow |
Value |
368.915 |
311.192 |
385.987 |
122.482 |
|
Operating Profit |
Value |
210.296 |
-109.832 |
19.049 |
144.752 |
|
Gross Operating Margin |
Value |
631.677 |
390.991 |
378.340 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
73,69 |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
145,98 |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
41,25 |
67,35 |
96,44 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,02 |
2,37 |
1,27 |
1,08 |
|
Rate of stock return |
Units |
8,73 |
5,35 |
3,73 |
4,45 |
|
Labour cost incidence |
% |
16,86 |
18,39 |
23,93 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-0,51 |
-0,76 |
-0,49 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
17,75 |
16,99 |
23,77 |
19,02 |
|
Short-term financing charges |
% |
1,30 |
n.c. |
0,86 |
2,68 |
|
Capital on hand |
% |
49,52 |
42,12 |
78,63 |
91,91 |
|
Sales pro employee |
Value |
190.180 |
174.677 |
134.769 |
198.432 |
|
Labour cost pro employee |
Value |
32.055 |
32.117 |
32.254 |
35.779 |
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 1.206 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.
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 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.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.