|
Report No. : |
338327 |
|
Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
FARMABIOS S.P.A. |
|
|
|
|
Registered Office : |
Via Pavia, 1, 27027 - Gropello Cairoli (PV) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
25.01.1967 |
|
|
|
|
Legal Form : |
Joint Stock Company with Sole Shareholder. |
|
|
|
|
Line of Business : |
· Manufacture of various chemical products for industrial usage (including antidetonating and anti-freeze preparations) · Manufacture of pharmaceutical-based products |
|
|
|
|
No. of Employees : |
From 150 to 175 |
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 |
FARMABIOS S.P.A.
Via Pavia, 1
27027 - Gropello Cairoli (PV) -IT-
|
Fiscal Code |
: |
00180280182 |
|
Legal Form |
: |
Joint stock company with sole
shareholder |
|
start of Activities |
: |
24/06/1968 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 150 to 175 |
Manufacture of various chemical
products for industrial usage (including antidetonating and anti-freeze
preparations)
Manufacture of pharmaceutical-based
products
Legal Form : Joint stock company
with sole shareholder
|
Fiscal Code : 00180280182 |
|
Foreign Trade Reg. no. : PV008496
since 17/02/1992 |
|
Chamber of Commerce no. : 116689
of Pavia since 20/02/1967 |
|
Firms' Register : PV110-2998 of Pavia
since 19/02/1996 |
|
V.A.T. Code : 00180280182 |
|
Foundation date |
: 25/01/1967 |
|
|
Establishment date |
: 25/01/1967 |
|
|
Start of Activities |
: 24/06/1968 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 7.800.000 |
|
|
Subscribed Capital |
: 7.800.000 |
|
|
Paid up Capital |
: 7.800.000 |
|
Legal mail : |
MAIL@PEC.FARMABIOS.NET |
|
|
Bolzern |
Oliver Valentin |
|
|
Born in Zollikon |
( ) |
on 14/12/1956 |
- Fiscal Code : BLZLRV56T14Z133W |
|
|
Residence: |
Pavia |
, 1 |
- 27027 |
Gropello Cairoli |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/02/2014 |
||
|
Board Chairman |
03/02/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Di Giacomo |
Mario |
|
|
Born in Vasto |
(CH) |
on 18/05/1973 |
- Fiscal Code : DGCMRA73E18E372G |
|
|
Residence: |
Pavia |
, 1 |
- 27027 |
Gropello Cairoli |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
18/06/2014 |
||
|
Managing Director |
18/06/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pharmazell Gmbh |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Protests registered |
|
|
Bianchino |
Gianluca |
|
|
Born in Venosa |
(PZ) |
on 22/10/1972 |
- Fiscal Code : BNCGLC72R22L738K |
|
|
Residence: |
Pavia |
, 1 |
- 27027 |
Gropello Cairoli |
(PV) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Managing Director |
28/05/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Pharmazell Gmbh |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
31/03/2014 |
|
|
No Protests registered |
*checkings have been performed on a
national scale.
In this module are listed the
companies in which members hold or have holded positions.
|
|
Di Giacomo |
Mario |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Erregierre Spa |
San Paolo d'Argon (BG) - IT - |
06605210159 |
Procurator |
Withdrawn |
Registered |
|
|
Bianchino |
Gianluca |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Nadir |
Rionero in Vulture (PZ) - IT - |
93004310764 |
Memb. of the Steering Committee |
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.
Shareholders' list as at date of
data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Pharmazell Gmbh |
100,00 |
The Company under review has participations
in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares Amount |
% Ownership |
since |
until |
Share Status |
|
Consorzio Unienergia Ticinum Pavia
|
Pavia - IT - |
01866520180 |
Active |
||||
|
Italian Biocatalysis Center (ibc) |
Pavia - IT - |
02221580182 |
Active |
In order to carry out its activities
the firm uses the following locations:
|
- |
Legal and operative seat |
|
Pavia |
, 1 |
- 27027 |
- Gropello Cairoli |
(PV) |
- IT - |
|
PHONE |
: 03828191 |
|
PHONE |
: 0382/815886 |
|
PHONE |
: 0382/8191 |
|
FAX |
: 0382815886 |
|
Legal mail |
: MAIL@PEC.FARMABIOS.NET |
|
Employees |
: 154 |
|
Fittings and Equipment for a value
of 5.650.000 |
Eur |
|
Stocks for a value of 19.960.000 |
Eur |
|
Furniture and fittings for a value
of 120.000 |
Eur |
|
Vehicles for a value of 91.000 |
Eur |
Trade organization: direct or by
agents.
Sales area on a national scale.
The firm operates abroad as importer
/ exporter..
To purchase foreign products the
firm uses the following channels :
|
- direct orders to foreign
companies |
Export represents more than 50% of
the global turnover.
Products abroad are placed by :
|
- importers |
|
- trading companies |
|
- direct orders from foreign
companies |
Import comes generally from the
following nations:
|
- France |
|
- Italy |
|
- Germany |
|
- Austria |
|
- Belgium |
|
- Great Britain |
|
- Holland |
Export is mainly towards:
|
- Greece |
|
- Italy |
|
- Austria |
|
- Belgium |
|
- Bulgaria |
|
- Cyprus |
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
20/03/2002 |
|
Joint stock company |
Joint stock company with sole
shareholder |
29/05/2007 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over
of |
|
Pharma 007 S.p.a. |
|
|
San Carlo |
, 6 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 05841440968 |
|
|
Date |
Merging/splitting-up project: |
20/09/2007 |
|
|
The firm absorbed by merging of |
|
Pharma 007 S.p.a. |
|
|
San Carlo |
, 6 |
, 20100 |
, Milano |
(MI) |
- IT - |
|
|
Fiscal Code: 05841440968 |
|
|
Date |
: |
19/12/2007 |
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.
The company is active since 1968
The analysis is based on the b/s
relating to year 2014.
It suffered a loss in 2014.
The operating result is positive
(5,1%). and reflects the field's average.
It's equal to Eur. 2.294.431 the
amount of the operating result coming from the financial management.
The gross operating margin is equal
to Eur. 10.873.920.
The financial position is not well
balanced as the volume of debts is fairly remarkable if compared to
shareholder's equity, in fact total debts are 7,11
Subject's equity capital amounted to
Eur. 9.821.749.
Debts amount to Eur. 71.282.660.
The recourse to bank credit is high
compared to net worth, debts to suppliers are on the other hand limited below
the sector's average.
Available funds are modest.
Accounts receivable average term is
37,14 days. , a better value than the sector's average.
Financial year closed with a cash
flow of Eur. 5.370.238.
Subordinate employment cost is of
Eur. 11.931.521, i.e. 16,93% on total production costs. , with a 16,84%
incidence on turnover.
The incidence percentage of
financial charges on sales volume is equal to -4,94%.
|
|
Complete balance-sheet for the
year |
al 31/03/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
70.838.590 |
|
Profit (Loss) for the period |
-3.209.251 |
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 31/03/2014 -
12 Mesi - Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/03/2014 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||
|
Rigidity Ratio |
Units |
0,34 |
0,36 |
|
Elasticity Ratio |
Units |
0,65 |
0,71 |
|
Availability of stock |
Units |
0,44 |
0,10 |
|
Total Liquidity Ratio |
Units |
0,21 |
0,54 |
|
Quick Ratio |
Units |
0,03 |
0,01 |
|
COMPOSITION ON SOURCE |
|||
|
Net Short-term indebtedness |
Units |
7,11 |
1,36 |
|
Self Financing Ratio |
Units |
0,22 |
0,30 |
|
Capital protection Ratio |
Units |
0,86 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,17 |
|
Financing |
Units |
7,26 |
1,82 |
|
Permanent Indebtedness Ratio |
Units |
0,24 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,12 |
|
Net Financial Indebtedness Ratio |
Units |
5,72 |
0,54 |
|
CORRELATION |
|||
|
Fixed assets ratio |
Units |
0,72 |
1,13 |
|
Current ratio |
Units |
0,41 |
1,27 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,13 |
0,87 |
|
Structure's primary quotient |
Units |
0,65 |
0,64 |
|
Treasury's primary quotient |
Units |
0,02 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
457,81 |
290,55 |
|
Current Capital ( net ) |
Value |
-42.010.356 |
2.945.207 |
|
RETURN |
|||
|
Return on Sales (R.O.S.) |
% |
7,58 |
7,09 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
-32,67 |
3,44 |
|
Return on Equity - Gross - (
R.O.E. ) |
% |
-18,29 |
8,88 |
|
Return on Investment ( R.O.I. ) |
% |
5,10 |
4,36 |
|
Return/ Sales |
% |
3,24 |
4,62 |
|
Extra Management revenues/charges
incid. |
% |
-139,87 |
40,92 |
|
Cash Flow |
Value |
5.370.238 |
2.671.250 |
|
Operating Profit |
Value |
2.294.431 |
855.930 |
|
Gross Operating Margin |
Value |
10.873.920 |
4.907.980 |
|
MANAGEMENT |
|||
|
Credits to clients average term |
Days |
37,14 |
94,42 |
|
Debts to suppliers average term |
Days |
83,15 |
108,11 |
|
Average stock waiting period |
Days |
101,42 |
57,93 |
|
Rate of capital employed return (
Turnover ) |
Units |
1,58 |
0,88 |
|
Rate of stock return |
Units |
3,55 |
6,30 |
|
Labour cost incidence |
% |
16,84 |
20,88 |
|
Net financial revenues/charges
incidence |
% |
-4,94 |
-1,41 |
|
Labour cost on purchasing expenses |
% |
16,93 |
17,99 |
|
Short-term financing charges |
% |
4,93 |
3,65 |
|
Capital on hand |
% |
63,48 |
90,65 |
|
Sales pro employee |
Value |
190.426 |
182.152 |
|
Labour cost pro employee |
Value |
32.073 |
38.993 |
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 |
: |
510.505 |
|
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 788 significant companies.
The companies cash their credits on
an average of 94 dd.
The average duration of suppliers
debts is about 108 dd.
The sector's profitability is on an
average of 7,09%.
The labour cost affects the turnover
in the measure of 20,88%.
Goods are held in stock in a range
of 58 dd.
The difference between the sales
volume and the resources used to realize it is about 0,88.
The employees costs represent the
17,99% of the production costs.
Statistically the trade activity
shows trifling crises.
The area is statistically considered
moderately risky.
In the region 50.886 protested subjects
are found; in the province they count to 2.343.
The insolvency index for the region
is 0,55, , while for the province it is 0,46.
Total Bankrupt companies in the
province : 986.
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
: |
TRI |
|
|
|
|
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.