MIRA INFORM REPORT
|
Report No. : |
340176 |
|
Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SGM GANTRY S.P.A. |
|
|
|
|
Registered Office : |
Via Per Leno, 2/D 25025 - Manerbio
(BS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.01.1974 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of other electrical equipment. |
|
|
|
|
No. of Employee : |
From 91 to 110 |
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 : |
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 financialMARKETS. 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
|
SGM GANTRY S.P.A. |
|
Via Per Leno, 2/D 25025 - Manerbio
(BS) -IT- |
Summary
|
Fiscal Code |
: |
00436040174 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
01/01/1974 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 91 to 110 |
Activity
Manufacture of other electrical equipment
n.e.c.
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00436040174 |
|
Foreign Trade Reg. no. : BS029733 since 17/01/1992 |
|
Foreign Trade Reg. no. : 29733 of Brescia
since 17/01/1992 |
|
Foreign Trade Reg. no. : 029733 of Brescia
since 17/01/1992 |
|
Chamber of Commerce no. : 182441 of Brescia
since 20/12/1971 |
|
Chamber of Commerce no. : 1533620 of Milano |
|
Firms' Register : BS029-9213 of Brescia
since 19/02/1996 |
|
V.A.T. Code : 00561630989 |
|
Tribunal Co. Register : 9213 of |
|
Establishment date |
: 23/11/1971 |
|
|
Start of Activities |
: 01/01/1974 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 750.000 |
|
|
Subscribed Capital |
: 750.000 |
|
|
Paid up Capital |
: 750.000 |
|
Legal mail : |
SGMGANTRY@PEC.IT |
Members
|
Haegelsteen |
Didier Claude Michel |
|
Born in Ukkel |
( ) |
on 14/12/1965 |
- Fiscal Code : HGLDRC65T14Z103M |
|
Residence: |
Aveneu De L'ecuyer |
, 8 |
Belgio |
- BE - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
11/05/2015 |
||
|
Managing Director |
11/05/2015 |
||
|
Director |
11/05/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Hf Holding |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Thissen |
Daniel Pierre Catherine |
|
|
Born in Rocourt |
( ) |
on 13/07/1954 |
- Fiscal Code : THSDLP54L13Z103M |
|
|
Residence: |
Leonardo Da Vinci |
, 58 |
- 25080 |
Padenghe sul Garda |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
11/05/2015 |
|
|
Sfondrini |
Carlo |
|
|
Born in Sesto San Giovanni |
(MI) |
on 02/09/1966 |
- Fiscal Code : SFNCRL66P02I690Q |
|
|
Residence: |
Giovanni Boccaccio |
, 4 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
11/05/2015 |
||
|
Managing Director |
11/05/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Dewere |
Karin Berthe Marie Ghisla |
|
|
Born in Huy |
( ) |
on 04/07/1964 |
- Fiscal Code : DWRKNB64L44Z103G |
|
|
Residence: |
Rue Du Happart |
, 4 |
Nivelles |
- BE - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
11/05/2015 |
||
|
Managing Director |
11/05/2015 |
|
|
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.
|
|
Haegelsteen |
Didier Claude Michel |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
GANTRY ITALIANA S.R.L. |
Agrate Brianza (MB) - IT - |
09777350159 |
Sole Director |
Withdrawn |
Registered |
|
GANTRY ITALIANA S.R.L. |
Agrate Brianza (MB) - IT - |
09777350159 |
Board Chairman |
Withdrawn |
Registered |
|
|
Dewere |
Karin Berthe Marie Ghisla |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Gantrex Italia Srl |
Manerbio (BS) - IT - |
03278430982 |
Director |
Active |
Registered |
|
Gantrex Italia Srl |
Manerbio (BS) - IT - |
03278430982 |
Managing Director |
Active |
Registered |
|
Gantrex Italia Srl |
Manerbio (BS) - IT - |
03278430982 |
Board Chairman |
Active |
Registered |
The indication "REGISTERED" as Firm
Status could refer to Firms in Liquidation, Active, Inactive
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 |
|
Cisa S.p.A. |
Genova - IT - |
00276750106 |
9.375 .Eur |
1,25 |
|
Hf Holding |
97573640154 |
740.625 .Eur |
98,75 |
Direct Participations
The Company under review has no participations
in other Companies.
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
Per Leno |
, 2/D |
- 25025 |
- Manerbio |
(BS) |
- IT - |
|
PHONE |
: 0309938400 |
|
FAX |
: 0309938404 |
|
Legal mail |
: SGMGANTRY@PEC.IT |
|
- |
Branch |
(Representative office) |
since 29/05/2007 |
|
E1-1003,yuan Chenxin Office |
, 12 |
- Pechino |
(EE) |
- CN - |
|
Employees |
: 96 |
|
Assistants |
: 2 |
|
Fittings and Equipment for a value of
380.000 |
Eur |
|
Stocks for a value of 4.740.000 |
Eur |
The firm operates abroad as importer /
exporter..
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- its own agents |
|
- its own foreign branches |
Import comes generally from the following
nations:
|
- France |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorved |
|
|
|
|
CENTRO COLLEONI PALAZZO ORCHE |
, 17 |
, 20041 |
, Agrate Brianza |
(MB) |
- IT - |
|
|
Fiscal Code: 09777350159 |
|
|
Date |
: |
12/12/2000 |
|
|
Project of merging by taking over of |
|
|
|
|
CENTRO COLLEONI PALAZZO ORCHE |
, 17 |
, 20041 |
, Agrate Brianza |
(MB) |
- IT - |
|
|
Fiscal Code: 09777350159 |
|
|
Date |
Merging/splitting-up project: |
15/06/2000 |
|
|
The firm absorbed by merging of |
|
|
|
|
CENTRO COLLEONI PALAZZO ORCHE |
, 17 |
, 20041 |
, Agrate Brianza |
(MB) |
- IT - |
|
|
Fiscal Code: 09777350159 |
|
|
Date |
: |
12/12/2000 |
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 1974
Balance sheets for the years 2012, 2013 and
2014 were analyzed.
Under the financial profile unstable results
are noted. anyway in 2014 a positive result was achieved (r.o.e. 3,58%).
The return on Investment in the last
financial year was positive (0,9%) falling within the field's average.
An operating result of Eur. 280.935 has been
registered. with no increase in relation to the financial year 2013.
The gross operating margin of the latest
financial year is of Eur. 854.934 , stable if compared to the year before.
The financial status of the company is fairly
balanced with an indebtedness level of 1,47 with an improving trend as on the
decrease.
The equity capital is equal to Eur.
12.382.840 , unchanged if compared to 2013.
The financial management has recorded total
debts amounting to Eur. 18.546.992, showing a stable trend as opposed to 2013
(Eur. 19.889.640).
The recourse to financial credit is within
the limits; on the other hand the recourse to suppliers' credit is rated as
fairly high and higher than sector's average.
Liquidity is however good.
As far as the collection of credit goes, the
average is high (217,55 days). even higher than the average of the specific
sector.
The financial management generated a cash
flow of Eur. 844.262.
In the last financial year labour cost was of
Eur. 5.399.259, with a 19,87% incidence on total costs of production. , whereas
the incidence of such costs on sales revenues is equal to 18,99%.
Financial incomes cover financial charges.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
28.429.212 |
|
Profit (Loss) for the period |
443.079 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
27.921.513 |
|
Profit (Loss) for the period |
-68.652 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
27.065.133 |
|
Profit (Loss) for the period |
1.277.225 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
29.717.466 |
|
Profit (Loss) for the period |
434.354 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
27.392.404 |
|
Profit (Loss) for the period |
1.718.330 |
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 |
0,25 |
0,29 |
0,33 |
0,19 |
|
Elasticity Ratio |
Units |
0,75 |
0,70 |
0,67 |
0,79 |
|
Availability of stock |
Units |
0,15 |
0,19 |
0,14 |
0,20 |
|
Total Liquidity Ratio |
Units |
0,60 |
0,52 |
0,53 |
0,52 |
|
Quick Ratio |
Units |
0,01 |
0,01 |
0,04 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,47 |
1,59 |
1,32 |
3,31 |
|
Self Financing Ratio |
Units |
0,40 |
0,36 |
0,42 |
0,18 |
|
Capital protection Ratio |
Units |
0,87 |
0,94 |
0,77 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,03 |
0,10 |
0,03 |
0,18 |
|
Financing |
Units |
1,50 |
1,74 |
1,42 |
4,09 |
|
Permanent Indebtedness Ratio |
Units |
0,41 |
0,42 |
0,44 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,06 |
0,02 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,53 |
0,64 |
0,44 |
0,61 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,68 |
1,41 |
1,31 |
1,80 |
|
Current ratio |
Units |
1,27 |
1,21 |
1,11 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,01 |
0,89 |
0,88 |
0,86 |
|
Structure's primary quotient |
Units |
1,62 |
1,22 |
1,26 |
1,12 |
|
Treasury's primary quotient |
Units |
0,02 |
0,02 |
0,07 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
251,57 |
278,39 |
237,18 |
541,00 |
|
Current Capital ( net ) |
Value |
4.929.036 |
3.888.715 |
2.196.513 |
380.064 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,97 |
1,14 |
5,99 |
3,59 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
3,58 |
-0,60 |
9,07 |
4,82 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
7,38 |
1,38 |
15,02 |
19,04 |
|
Return on Investment ( R.O.I. ) |
% |
0,90 |
0,91 |
6,79 |
4,67 |
|
Return/ Sales |
% |
0,99 |
1,04 |
8,38 |
4,49 |
|
Extra Management revenues/charges incid. |
% |
157,72 |
-23,62 |
56,34 |
25,43 |
|
Cash Flow |
Value |
844.262 |
319.114 |
1.621.008 |
134.539 |
|
Operating Profit |
Value |
280.935 |
290.655 |
2.267.010 |
158.212 |
|
Gross Operating Margin |
Value |
854.934 |
720.773 |
2.730.793 |
292.137 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
217,55 |
186,47 |
197,56 |
103,46 |
|
Debts to suppliers average term |
Days |
173,63 |
162,00 |
197,04 |
128,84 |
|
Average stock waiting period |
Days |
60,07 |
77,26 |
60,01 |
68,68 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,91 |
0,88 |
0,81 |
1,11 |
|
Rate of stock return |
Units |
5,99 |
4,66 |
6,00 |
5,22 |
|
Labour cost incidence |
% |
18,99 |
19,22 |
18,35 |
19,05 |
|
Net financial revenues/ charges incidence |
% |
2,18 |
-0,86 |
-0,56 |
-1,26 |
|
Labour cost on purchasing expenses |
% |
19,87 |
18,31 |
19,94 |
19,40 |
|
Short-term financing charges |
% |
n.c. |
2,44 |
2,21 |
2,64 |
|
Capital on hand |
% |
109,57 |
114,28 |
123,42 |
90,11 |
|
Sales pro employee |
Value |
169.221 |
167.194 |
174.613 |
181.347 |
|
Labour cost pro employee |
Value |
32.138 |
32.142 |
32.048 |
33.314 |
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 1.330
significant companies.
The companies cash their credits on an
average of 103 dd.
The average duration of suppliers debts is
about 129 dd.
The sector's profitability is on an average
of 3,59%.
The labour cost affects the turnover in the
measure of 19,05%.
Goods are held in stock in a range of 69 dd.
The difference between the sales volume and
the resources used to realize it is about 1,11.
The employees costs represent the 19,40% of
the production costs.
Statistical Detrimental Data
Statistcally the trade activity shows periods
of crisis.
The area is statistically considered
moderately risky.
In the region 50.886 protested subjects are
found; in the province they count to 5.551.
The insolvency index for the region is 0,55,
, while for the province it is 0,48.
Total Bankrupt companies in the province :
3.452.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
|
|
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.