|
Report No. : |
340490 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MINERALS E METALS ITALIA S.P.A. |
|
|
|
|
Registered Office : |
Via Leopardi, 26, 24060 – Rogno (BG) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
31.03.1973 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of Other Non-Metallic Mineral Products. |
|
|
|
|
No. of Employees : |
From 16 to 25 |
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 |
MINERALS E METALS ITALIA S.P.A.
Via Leopardi, 26
24060 – Rogno (BG) -IT-
|
Fiscal Code |
: |
00379220163 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
31/03/1973 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
from 16 to 25 |
Manufacture of other non-metallic mineral products
Legal Form : Joint stock company
|
Fiscal Code : 00379220163 |
|
Foreign Trade Reg. no. : BG001280 since 07/12/1991 |
|
Foreign Trade Reg. no. : 1280 of Bergamo since 17/12/1991 |
|
Chamber of Commerce no. : 147945 of Bergamo since 24/01/1974 |
|
V.A.T. Code : 00379220163 |
|
Foundation date |
: 31/03/1973 |
|
|
Establishment date |
: 31/03/1973 |
|
|
Start of Activities |
: 31/03/1973 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 900.000 |
|
|
Subscribed Capital |
: 900.000 |
|
|
Paid up Capital |
: 900.000 |
|
Legal mail : |
MINERALS@PEC.MINERALS.IT |
|
|
Bellicini |
Battista |
|
|
Born in Rogno |
(BG) |
on 10/08/1939 |
- Fiscal Code : BLLBTS39M10H492K |
|
|
Residence: |
G. D'annunzio |
, 5 |
- 24060 |
Rogno |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2014 |
||
|
Board Chairman |
29/05/2014 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Invernici |
Sergio |
|
|
Born in Pisogne |
(BS) |
on 15/07/1945 |
- Fiscal Code : NVRSRG45L15G710I |
|
|
Residence: |
Ugo Foscolo |
, 11 |
- 24060 |
Rogno |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2014 |
|
|
Delasa |
Verena |
|
|
Born in Rogno |
(BG) |
on 23/06/1938 |
- Fiscal Code : DLSVRN38H63H492R |
|
|
Residence: |
G. D'annunzio |
, 5 |
- 24060 |
Rogno |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2014 |
|
|
Bellicini |
Alberto |
|
|
Born in Bergamo |
(BG) |
on 04/06/1964 |
- Fiscal Code : BLLLRT64H04A794D |
|
|
Residence: |
Tintoretto |
, 5 |
- 25052 |
Piancogno |
(BS) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2014 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bellicini |
Elisabetta |
|
|
Born in Bergamo |
(BG) |
on 25/05/1971 |
- Fiscal Code : BLLLBT71E65A794W |
|
|
Residence: |
Gabriele D'annunzio |
, 5 |
- 24060 |
Rogno |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2014 |
|
|
Bellicini |
Marcello |
|
|
Born in Bergamo |
(BG) |
on 11/11/1965 |
- Fiscal Code : BLLMCL65S11A794H |
|
|
Residence: |
G. Paglia |
, 28 |
- 24065 |
Lovere |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Bellicini |
Giov. Maria |
|
|
Born in Bergamo |
(BG) |
on 06/10/1951 |
- Fiscal Code : BLLGMR51R06A794Y |
|
|
Residence: |
Ugo Foscolo |
, 15 |
- 24060 |
Rogno |
(BG) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
29/05/2014 |
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
Bellicini |
Battista |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Pan Chemicals S.p.a. |
Rogno (BG) - IT - |
01795560166 |
Director |
Active |
Registered |
|
Pan Chemicals S.p.a. |
Rogno (BG) - IT - |
01795560166 |
Chairman and
Managing Director |
Withdrawn |
Registered |
|
Pan Chemicals S.p.a. |
Rogno (BG) - IT - |
01795560166 |
Board Chairman |
Active |
Registered |
|
Tecnomedia Servizi S.r.l. (sigla TiesseS.r.l.) |
Rogno (BG) - IT - |
01663580163 |
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.
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Bellicini Battista |
Rogno - IT - |
BLLBTS39M10H492K |
34.370 .Eur |
3,81 |
|
Delasa Verena |
Rogno - IT - |
DLSVRN38H63H492R |
37.630 .Eur |
4,18 |
|
Bellicini Alberto |
Piancogno - IT - |
BLLLRT64H04A794D |
441.000 .Eur |
49,00 |
|
Bellicini Marcello |
Lovere - IT - |
BLLMCL65S11A794H |
387.000 .Eur |
43,00 |
The Company under review has participations in the following Companies:
|
Firm's Style |
Seat |
Fiscal Code |
Owned Shares
Amount |
% Ownership |
since |
until |
Share Status |
|
Pan Chemicals S.p.a. |
Rogno - IT - |
01795560166 |
486.000 .Eur |
45,00 |
Active |
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
since 31/03/1973 |
|
Leopardi |
, 26 |
- 24060 |
- Rogno |
(BG) |
- IT - |
|
Legal mail |
: MINERALS@PEC.MINERALS.IT |
|
- |
Branch |
(Factory) |
|
- 24060 |
- Rogno |
(BG) |
- IT - |
|
Employees |
: 19 |
|
Fittings and Equipment for a value of 550.000 |
Eur |
|
Stocks for a value of 3.200.000 |
Eur |
The firm has a direct commercial organization
Sales area on a national scale.
The company 's mainly customers are companies.
To purchase foreign products the firm uses the following channels :
|
- direct orders to foreign companies |
Products abroad are placed by :
|
- direct orders from foreign companies |
Subject generally proposes terms of sale between 30 and 60 days.
Financial means used for sale: bank transfers and bank orders.
Purchases are mainly paid with terms of 30/90 days.
Main used payment modalities are by cash orders and bank transfers.
The subject firm uses the following own selling brands:
|
- IL PIROX |
Traded Brands / Suppliers
|
- PAN CHEMICALS S.P.A |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Splitting-up and setting-up of a new company |
|
Mac - Iniziative
Immobiliari S.r.l. |
|
|
G. Paglia |
, 26/28 |
, 24065 |
, Lovere |
(BG) |
- IT - |
|
|
Fiscal Code: 03237760164 |
|
|
Date |
Splitting-up: |
01/08/2005 |
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 firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
CREDITO BERGAMASCO S.P.A. |
PIAZZA TREDICI MARTIRI, 1 |
24065 |
Lovere (BG) |
3336 |
53170 |
Company's starting of activities dates back to 1973.
Balance sheets for the years 2012, 2013 and 2014 were analyzed.
Unstable economic results mark the company's financial state of affairs.
anyway in 2014 a positive result was achieved (r.o.e. 1,6%).
The return on Investment in the last financial year was positive (0,84%)
and in line with the sector's average.
An operating result of Eur. 105.167 has been registered. showing a
downwards trend equal to -73,46% if compared to the value of the financial year
2013.
During the latest financial year the gross operating margin amounted to
Eur. 482.877 with a -36,42% fall.
Very good financial situation: shareholder's equity covers short-terms
debts with an indebtedness level equal to 0,81 lower than in 2013.
With regard to equity capital, an amount of Eur. 5.615.219 is
registered. , stable in comparison with the value of the previous year.
In the year 2014 total debts amounted to Eur. 6.375.919 showing a stable
trend as opposed to 2013 (Eur. 7.237.466).
Bank and suppliers credit recourse is limited, 74,91 gg. is payment
average period which is also lower than the sector average.
Payments are supported by good current assets.
Trade credits average terms are slow, on average 167,91 days. and higher
than the average of the sector.
2014 financial year closed with a cash flow of Eur. 467.348
Labour cost expenses amount to Eur. 762.369 , representing 12,97% on the
total of production costs. and a 13,02% incidence on sales volumes.
Financial charges are high: the incidence on sales volume amounts to
-3,45%
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.854.915 |
|
Profit (Loss) for the period |
89.638 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.174.136 |
|
Profit (Loss) for the period |
-64.223 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.602.617 |
|
Profit (Loss) for the period |
138.896 |
|
|
Complete balance-sheet for the year |
al 31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.331.316 |
|
Profit (Loss) for the period |
60.614 |
|
|
Complete balance-sheet for the year |
al 31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.670.899 |
|
Profit (Loss) for the period |
102.465 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,51 |
0,53 |
0,57 |
0,29 |
|
Elasticity Ratio |
Units |
0,49 |
0,47 |
0,43 |
0,56 |
|
Availability of stock |
Units |
0,26 |
0,26 |
0,23 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,23 |
0,21 |
0,20 |
0,52 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,00 |
0,01 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,81 |
0,90 |
0,92 |
2,95 |
|
Self Financing Ratio |
Units |
0,45 |
0,42 |
0,44 |
0,17 |
|
Capital protection Ratio |
Units |
0,82 |
0,85 |
0,81 |
0,72 |
|
Liabilities consolidation quotient |
Units |
0,47 |
0,49 |
0,39 |
0,24 |
|
Financing |
Units |
1,14 |
1,31 |
1,22 |
3,63 |
|
Permanent Indebtedness Ratio |
Units |
0,62 |
0,61 |
0,59 |
0,48 |
|
M/L term Debts Ratio |
Units |
0,17 |
0,19 |
0,16 |
0,15 |
|
Net Financial Indebtedness Ratio |
Units |
0,95 |
1,03 |
1,02 |
0,79 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,22 |
1,14 |
1,05 |
1,52 |
|
Current ratio |
Units |
1,34 |
1,21 |
1,08 |
1,36 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,64 |
0,54 |
0,51 |
1,00 |
|
Structure's primary quotient |
Units |
0,88 |
0,79 |
0,77 |
0,60 |
|
Treasury's primary quotient |
Units |
0,00 |
0,02 |
0,00 |
0,03 |
|
Rate of indebtedness ( Leverage ) |
% |
222,05 |
238,41 |
229,08 |
529,23 |
|
Current Capital ( net ) |
Value |
1.558.499 |
1.077.646 |
405.174 |
101.018 |
|
RETURN |
|||||
|
Return on Sales |
% |
7,98 |
4,84 |
6,28 |
5,19 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
1,60 |
-1,16 |
2,48 |
5,02 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
3,19 |
-0,21 |
4,70 |
17,16 |
|
Return on Investment ( R.O.I. ) |
% |
0,84 |
3,01 |
3,42 |
4,86 |
|
Return/ Sales |
% |
1,80 |
6,42 |
5,75 |
4,92 |
|
Extra Management revenues/charges incid. |
% |
85,23 |
-16,21 |
31,75 |
26,16 |
|
Cash Flow |
Value |
467.348 |
298.990 |
477.655 |
83.915 |
|
Operating Profit |
Value |
105.167 |
396.273 |
437.441 |
62.311 |
|
Gross Operating Margin |
Value |
482.877 |
759.486 |
776.200 |
236.145 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
167,91 |
146,15 |
114,69 |
120,73 |
|
Debts to suppliers average term |
Days |
74,91 |
69,61 |
53,91 |
114,26 |
|
Average stock waiting period |
Days |
196,75 |
198,01 |
138,63 |
55,24 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,47 |
0,47 |
0,59 |
1,21 |
|
Rate of stock return |
Units |
1,83 |
1,82 |
2,60 |
6,02 |
|
Labour cost incidence |
% |
13,02 |
12,34 |
9,84 |
20,14 |
|
Net financial revenues/ charges incidence |
% |
-3,45 |
-3,19 |
-2,73 |
-2,11 |
|
Labour cost on purchasing expenses |
% |
12,97 |
11,68 |
10,16 |
23,46 |
|
Short-term financing charges |
% |
3,18 |
2,73 |
3,10 |
2,79 |
|
Capital on hand |
% |
212,96 |
213,36 |
168,43 |
96,65 |
|
Sales pro employee |
Value |
254.561 |
343.007 |
330.548 |
149.671 |
|
Labour cost pro employee |
Value |
33.146 |
42.330 |
32.515 |
26.492 |
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 |
Statistically 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.66.39 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.