MIRA INFORM REPORT
|
Report No. : |
338007 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PLANETEX - S.P.A. |
|
|
|
|
Registered Office : |
Viale Europa, 57 21010 - Cardano Al Campo (VA) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31/12/2014 |
|
|
|
|
Date of Incorporation : |
23.05.2001 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Subject is various manufacture and accessories for apparel |
|
|
|
|
No. of Employee : |
from 51 to 70 |
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 : |
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 and address
PLANETEX - S.P.A.
Viale Europa, 57
21010 - Cardano Al Campo (VA) -IT-
Summary
|
Fiscal Code |
: |
02660870128 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
12/07/2001 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Various manufacture and accessories for apparel
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 02660870128 |
|
Foreign Trade Reg. no. : VA052194 since 05/10/2001 |
|
Chamber of Commerce no. : 1658427 of Milano |
|
Chamber of Commerce no. : 1785736 of Milano |
|
Chamber of Commerce no. : 275560 of Varese since 14/06/2001 |
|
V.A.T. Code : 02660870128 |
|
Establishment date |
: 23/05/2001 |
|
|
Start of Activities |
: 12/07/2001 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.500.000 |
|
|
Subscribed Capital |
: 2.500.000 |
|
|
Paid up Capital |
: 2.500.000 |
|
Legal mail : |
PLANETEXSRL@CERTIMPRESE.IT |
Members
|
Faroni |
Giorgio |
|
|
Born in Busto Arsizio |
(VA) |
on 19/04/1950 |
- Fiscal Code : FRNGRG50D19B300R |
|
|
Residence: |
Viale Ippolito Nievo |
, 24 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
15/10/2014 |
|
Conti |
Claudio |
|
|
Born in Parma |
(PR) |
on 04/01/1960 |
- Fiscal Code : CNTCLD60A04G337V |
|
|
Residence: |
Via D. Fontana |
, 3 |
Lugano |
- CH - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
15/10/2014 |
||
|
Director |
15/10/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
Azzimonti |
Stefania |
|
|
Born in Busto Arsizio |
(VA) |
on 15/04/1971 |
- Fiscal Code : ZZMSFN71D55B300G |
|
|
Residence: |
Vicinale Del Ponte |
, 12/4 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
02/07/2007 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
Conti |
Cristina |
|
|
Born in Parma |
(PR) |
on 01/01/1966 |
- Fiscal Code : CNTCST66A41G337U |
|
|
Residence: |
Carlo Maria Piazza |
, 2 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
10/02/2010 |
||
|
Director |
26/01/2015 |
|
|
No Prejudicial events are reported |
|
|
The following Protests are registered: |
|
|
CONTI CRISTINA (CNTCST66A41G337U) |
VIA CARLO MARIA PIAZZA |
- BUSTO ARSIZIO |
|
Type |
Protest Date |
Amount (in Euro) |
Amount (in Lire) |
Motivo |
|
Protested cheque |
19/07/2012 |
2.500 |
4.840.675 |
Forged signature |
|
|
CONTI CRISTINA (CNTCST66A41G337U) |
VIA CARLO MARIA PIAZZA |
- BUSTO ARSIZIO |
|
Type |
Protest Date |
Amount (in Euro) |
Amount (in Lire) |
Motivo |
|
Protested cheque |
19/07/2012 |
2.000 |
3.872.540 |
Forged signature |
|
|
CONTI CRISTINA (CNTCST66A41G337U) |
VIA CARLO MARIA PIAZZA |
- BUSTO ARSIZIO |
|
Type |
Protest Date |
Amount (in Euro) |
Amount (in Lire) |
Motivo |
|
Protested cheque |
19/07/2012 |
2.200 |
4.259.794 |
Forged signature |
|
|
CONTI CRISTINA (CNTCST66A41G337U) |
VIA CARLO MARIA PIAZZA |
- BUSTO ARSIZIO |
|
Type |
Protest Date |
Amount (in Euro) |
Amount (in Lire) |
Motivo |
|
Protested cheque |
24/07/2012 |
50 |
96.814 |
Forged signature |
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.
|
Conti |
Claudio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Spark Energy S.p.a. In Liquidazione |
Castelfranco Veneto (TV) - IT - |
02065000263 |
Director |
Withdrawn |
Registered |
|
Italian Fashion Industries S.r.l. |
Busto Arsizio (VA) - IT - |
03195920123 |
Sole Director |
Withdrawn |
Registered |
|
Italian Fashion Industries S.r.l. |
Busto Arsizio (VA) - IT - |
03195920123 |
Sole partner |
Withdrawn |
Registered |
|
C.ar.va Cinque Cooperativa Artigiani Varesini Societa' Cooperativa
Mista |
Busto Arsizio (VA) - IT - |
03039770122 |
Director |
Withdrawn |
Registered |
|
Logitex S.r.l. |
Busto Arsizio (VA) - IT - |
03223600127 |
Sole Director |
Withdrawn |
Registered |
|
Planet Re Srl |
Busto Arsizio (VA) - IT - |
03411390127 |
Sole 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 |
|
Conti Claudio |
Lugano - CH - |
CNTCLD60A04G337V |
2.375.000 .Eur |
95,00 |
|
Conti Andrea |
CNTNDR89D23B300S |
125.000 .Eur |
5,00 |
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 |
|
Univa Partecipazioni S.p.a. |
Varese - IT - |
95060870128 |
100.000 .Eur |
3,16 |
Active |
||
|
Provex Consorzio Per L'internazionalizza zione |
Busto Arsizio - IT - |
00549610129 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Europa |
, 57 |
- 21010 |
- Cardano Al Campo |
(VA) |
- IT - |
|
PHONE |
: 0331683353 |
|
Email |
: PLANETEXSRL@CERTIMPRESE.IT |
|
Legal mail |
: PLANETEXSRL@CERTIMPRESE.IT |
|
- |
Branch |
(Workshop) |
since 12/07/2001 |
|
Sacro Monte |
, 3 |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
PHONE |
: 0331680599 |
|
PHONE |
: 0331683353 |
|
- |
Branch |
(Warehouse) |
since 10/04/2002 |
|
Sacro Monte |
, 3 |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
- |
Branch |
(Store) |
since 25/06/2011 |
|
Arturo Tosi |
, SNC |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
- |
Branch |
(Shop) |
since 29/11/2012 |
|
Arturo Tosi |
, SNC |
- 21052 |
- Busto Arsizio |
(VA) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/07/2005 |
|
Bruno Buozzi |
, 61 |
- 20097 |
- San Donato Milanese |
(MI) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 16/11/2007 |
|
Europa |
, 323 |
- 20017 |
- Rho |
(MI) |
- IT - |
|
- |
Branch |
(Store) |
since 25/06/2011 |
|
Guareschi |
, 27/A |
- 20014 |
- Nerviano |
(MI) |
- IT - |
|
Employees |
: 55 |
|
Fittings and Equipment for a value of 540.000 |
Eur |
|
Stocks for a value of 16.080.000 |
Eur |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
B.CA POP. LUINO E VARESE |
5556 |
0 |
Financial
and Economical Analysis
The company is active since 2001
The analysis is based on the latest 3 balance sheets.
During the last years, it achieved profits (r.o.e. 2,36% on 2014) but
without a significant increase in the turnover.
The return on Investment in the last financial year was positive (5,12%)
and in line with the sector's average.
The operating result is positive and amounts to Eur. 2.285.946 with a
-35,79% drop.
The G.O.M. amounted to Eur. 3.084.099 showing a drop (-27,79%).
The ratio between shareholder's equity and borrowed capital is not well
balanced, the indebtedness level is equal to 8,07 with an upward trend.
With regard to equity capital, an amount of Eur. 4.754.540 is
registered. , stable in comparison with the value of the previous year.
Total indebtedness amounts to Eur. 38.973.440, showing a stable trend as
opposed to 2013 (Eur. 36.899.090).
If compared to the net worth, debts towards banks are remarkably high
while the recourse to commercial credit is modest which is also lower than the
sector average.
The liquidity level is positive (1,09).
Accounts receivable average term is high (130,41 days). within the
average values of the sector.
As far as the cash flow is concerned during the latest financial year it
amounted to Eur. 885.349
During 2014 financial year labour costs amounted to Eur. 2.172.538, with
a 3,64% incidence on production costs. , with a 3,52% incidence on turnover.
High incidence of financial charges on turnover.
Financial
Data
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
61.687.252 |
|
Profit (Loss) for the period |
112.196 |
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
61.984.076 |
|
Profit (Loss) for the period |
1.121.903 |
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
59.253.197 |
|
Profit (Loss) for the period |
1.042.430 |
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
56.126.098 |
|
Profit (Loss) for the period |
484.880 |
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
46.009.874 |
|
Profit (Loss) for the period |
1.235.129 |
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 |
0,04 |
0,05 |
0,05 |
0,14 |
|
Elasticity Ratio |
Units |
0,95 |
0,91 |
0,91 |
0,84 |
|
Availability of stock |
Units |
0,36 |
0,20 |
0,20 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,59 |
0,71 |
0,70 |
0,53 |
|
Quick Ratio |
Units |
0,01 |
0,03 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
8,07 |
6,08 |
6,70 |
3,78 |
|
Self Financing Ratio |
Units |
0,11 |
0,13 |
0,12 |
0,17 |
|
Capital protection Ratio |
Units |
0,43 |
0,36 |
0,28 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,01 |
0,05 |
0,07 |
0,14 |
|
Financing |
Units |
8,20 |
6,57 |
7,20 |
4,55 |
|
Permanent Indebtedness Ratio |
Units |
0,12 |
0,17 |
0,18 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,01 |
0,04 |
0,06 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
5,47 |
4,56 |
5,28 |
1,26 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,71 |
3,68 |
3,48 |
1,87 |
|
Current ratio |
Units |
1,09 |
1,12 |
1,12 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,67 |
0,87 |
0,87 |
0,79 |
|
Structure's primary quotient |
Units |
2,50 |
2,76 |
2,35 |
1,13 |
|
Treasury's primary quotient |
Units |
0,02 |
0,03 |
0,01 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
939,44 |
771,23 |
834,48 |
587,75 |
|
Current Capital ( net ) |
Value |
3.332.599 |
4.272.641 |
3.891.247 |
209.248 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,44 |
2,92 |
2,38 |
2,26 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
2,36 |
19,97 |
21,08 |
3,48 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
16,53 |
34,74 |
39,55 |
12,19 |
|
Return on Investment ( R.O.I. ) |
% |
5,12 |
8,22 |
6,64 |
3,83 |
|
Return/ Sales |
% |
3,71 |
5,74 |
4,62 |
3,45 |
|
Extra Management revenues/charges incid. |
% |
4,91 |
31,51 |
38,05 |
20,46 |
|
Cash Flow |
Value |
885.349 |
1.811.120 |
1.410.131 |
50.400 |
|
Operating Profit |
Value |
2.285.946 |
3.560.381 |
2.739.322 |
68.610 |
|
Gross Operating Margin |
Value |
3.084.099 |
4.271.098 |
3.125.023 |
124.742 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
130,41 |
153,03 |
164,33 |
120,68 |
|
Debts to suppliers average term |
Days |
62,82 |
54,46 |
57,52 |
115,81 |
|
Average stock waiting period |
Days |
93,82 |
51,49 |
50,79 |
78,40 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,38 |
1,43 |
1,44 |
1,14 |
|
Rate of stock return |
Units |
3,84 |
6,99 |
7,09 |
4,57 |
|
Labour cost incidence |
% |
3,52 |
2,89 |
2,63 |
12,27 |
|
Net financial revenues/ charges incidence |
% |
-2,05 |
-2,57 |
-0,82 |
-1,84 |
|
Labour cost on purchasing expenses |
% |
3,64 |
3,04 |
2,73 |
12,16 |
|
Short-term financing charges |
% |
3,27 |
4,38 |
1,41 |
3,35 |
|
Capital on hand |
% |
72,41 |
69,90 |
69,65 |
87,41 |
|
Sales pro employee |
Value |
920.705 |
1.106.858 |
1.481.329 |
245.343 |
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 864 significant companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 2,26%.
The labour cost affects the turnover in the measure of 12,27%.
Goods are held in stock in a range of 78 dd.
The difference between the sales volume and the resources used to
realize it is about 1,14.
The employees costs represent the 12,16% of the production costs.
Statistical
Detrimental Data
Statistically the trade activity passes through serious crises.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province they
count to 4.597.
The insolvency index for the region is 0,55, , while for the province it
is 0,55.
Total Bankrupt companies in the province : 3.052.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.