MIRA INFORM REPORT
|
Report No. : |
342077 |
|
Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
FALCO PELLAMI SPA |
|
|
|
|
Registered Office : |
Via Martin Luther King, 2/4 PONTE A
EGOLA - San Miniato (PI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
23.02.1987 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF HIDES, SKINS AND LEATHER. |
|
|
|
|
No. of Employee : |
From 11 to 15 |
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 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
|
FALCO PELLAMI SPA (SOCIETA' UNIPERSONALE) |
|
Via Martin Luther King, 2/4 PONTE A
EGOLA - San Miniato (PI)
-IT- |
Summary
|
Fiscal Code |
: |
00997700505 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
23/02/1987 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
15.500.000/18.000.000 |
|
Number of Employees |
: |
from 11 to 15 |
Activity
Wholesale of hides, skins and leather
Legal Data
Legal Form : Joint stock company with sole
shareholder
|
Fiscal Code : 00997700505 |
|
Foreign Trade Reg. no. : PI004476 since
17/12/1991 |
|
Foreign Trade Reg. no. : 4476 of Pisa since
17/12/1991 |
|
Chamber of Commerce no. : 93187 of Pisa
since 15/10/1986 |
|
Firms' Register : PI026-11134 of Pisa |
|
V.A.T. Code : 00997700505 |
|
R. E. C. no. : 20685 of Pisa since
15/12/1986 |
|
Tribunal Co. Register : 11134 of since
15/09/1986 |
|
Foundation date |
: 18/07/1986 |
|
|
Establishment date |
: 18/07/1986 |
|
|
Start of Activities |
: 23/02/1987 |
|
|
Legal duration |
: 31/12/2030 |
|
|
Nominal Capital |
: 1.500.000 |
|
|
Subscribed Capital |
: 1.500.000 |
|
|
Paid up Capital |
: 1.500.000 |
|
Legal mail : |
FALCOPELLAMI@LEGALMAIL.IT |
Members
|
|
Montanelli |
Paolo |
|
|
Born in Castelfranco di Sotto |
(PI) |
on 19/04/1963 |
- Fiscal Code : MNTPLA63D19C113R |
|
|
Residence: |
Pio La Torre |
, 12 |
- 56022 |
Castelfranco di Sotto |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Board Chairman |
20/05/2013 |
||
|
Director |
20/05/2013 |
||
|
Managing Director |
20/05/2013 |
|
|
Prejudicial Events found with
cancellations* |
Legal Mortgage - 23/03/2007. -
11.736 Euro. Event writing-off
|
|
EQUITALIA GET S.P.A. |
|
|
No Protests registered |
|
|
Montanelli |
Angelo |
|
|
Born in Castelfranco di Sotto |
(PI) |
on 28/02/1958 |
- Fiscal Code : MNTNGL58B28C113G |
|
|
Residence: |
Melone |
, 31 |
- 56020 |
Santa Maria a Monte |
(PI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
14/11/2002 |
||
|
Assistant board Chairman |
20/05/2013 |
||
|
Director |
20/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Colonna Spa |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
*Concerns also partially erased events.
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.
|
|
Montanelli |
Paolo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Conceria 800 S.p.a. |
Santa Croce sull'Arno (PI) - IT - |
00113450506 |
Director |
Active |
Registered |
|
Chem-tec S.r.l. |
Santa Maria a Monte (PI) - IT - |
01228270508 |
Managing Director |
Active |
Registered |
|
Chem-tec S.r.l. |
Santa Maria a Monte (PI) - IT - |
01228270508 |
Director |
Active |
Registered |
|
CONCERIA 2000 DI MONTANELLI FILIPPO eamp;
C.- S.N.C. |
San Miniato (PI) - IT - |
00884020504 |
Partner |
Withdrawn |
Not Operating |
|
|
Montanelli |
Angelo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Conceria 800 S.p.a. |
Santa Croce sull'Arno (PI) - IT - |
00113450506 |
Sole Director |
Active |
Registered |
|
Marbella Pellami Spa (societa'
UnipersonAle) |
Bientina (PI) - IT - |
00481840502 |
Procurator |
Active |
Registered |
|
CONCERIA 2000 DI MONTANELLI FILIPPO eamp;
C.- S.N.C. |
San Miniato (PI) - IT - |
00884020504 |
Partner |
Withdrawn |
Not Operating |
|
Conceria Blutonic S.p.a. |
San Miniato (PI) - IT - |
01582650501 |
Director |
Active |
Registered |
|
Lido Di San Miniato Srl |
San Miniato (PI) - IT - |
01632860506 |
Sole Director |
Active |
Registered |
|
MONTANELLI GIOVANNI eamp; C. S.P.A. |
San Miniato (PI) - IT - |
00113040505 |
Liquidator |
Active |
Registered |
|
INTERLAND S.R.L. |
- - |
01632100507 |
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 |
|
Colonna Spa |
01655060505 |
100,00 |
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 |
|
Consorzio Cuoio-depur Societa' Per Azion i |
San Miniato - IT - |
00667540504 |
150 .Eur |
0,01 |
Active |
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
Martin Luther King |
, 2/4 |
- 56027 |
- San Miniato |
(PI) |
- IT - |
|
PHONE |
: 0587706845 |
|
Legal mail |
: FALCOPELLAMI@LEGALMAIL.IT |
|
Employees |
: 15 |
|
Fittings and Equipment for a value of
950.000 |
Eur |
|
Stocks for a value of 3.920.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- distributors |
|
- its own agents |
Export represents from 20% to 50% of the
global turnover.
Products abroad are placed by :
|
- importers |
|
- its own agents |
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
The company is active since 1987
The economic-financial analysis has been made
on the base of the b/s of the latests three years.
Under an economic point of view, profits were
registered during the last years with a r.o.e. of 12,58% in 2014 thanks to a
progressive increase in turnover (+26,76% in 2014 compared to 2013 and +9,35%
in 2013 compared to 2012).
The operating result was positive in the last
financial year (4,85%) and in line with the sector's average.
The amount of the operating result for the
year 2014 is of Eur. 687.959 increasing if compared to the yeart 2013.
A gross operating margine for a value of Eur.
815.988 was reached. showing a 51,24% growth.
The financial status of the company is fairly
balanced with an indebtedness level of 2,57 yet on the increase as against the
previous accounting period.
The management generated equity capital for
an amount of Eur. 2.858.023 on stable levels.
Total indebtedness was equal to Eur.
10.876.211 (Eur. 1.157.143 was the value of m/l term debts) while during the
financial year 2013 the amount was equal to Eur. 5.319.232.
Bank borrowings' volume is slightly high but
the recourse to suppliers' credit is modest which turns out to be lined up with
the sector.
Payments are supported by good current
assets.
Due from customers average term is high and
equal to 101,97 days. but on the same levels as the average of the sector.
During financial year 2014 the cash flow
amounted to Eur. 487.427
Subordinate employment cost is of Eur.
847.543, i.e. 4,84% on total production costs. , with a 4,79% incidence on
turnover.
The financial management has a limited
economic impact, equal to -0,53% on the sales.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
17.684.030 |
|
Profit (Loss) for the period |
359.398 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.950.695 |
|
Profit (Loss) for the period |
266.103 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.756.961 |
|
Profit (Loss) for the period |
169.564 |
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 |
0,08 |
0,01 |
0,02 |
0,11 |
|
Elasticity Ratio |
Units |
0,91 |
0,98 |
0,98 |
0,87 |
|
Availability of stock |
Units |
0,28 |
0,33 |
0,39 |
0,17 |
|
Total Liquidity Ratio |
Units |
0,64 |
0,65 |
0,58 |
0,61 |
|
Quick Ratio |
Units |
0,17 |
0,05 |
0,05 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,57 |
1,96 |
2,13 |
3,90 |
|
Self Financing Ratio |
Units |
0,20 |
0,31 |
0,29 |
0,17 |
|
Capital protection Ratio |
Units |
0,35 |
0,29 |
0,25 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,15 |
0,04 |
0,06 |
0,09 |
|
Financing |
Units |
3,81 |
2,13 |
2,34 |
4,57 |
|
Permanent Indebtedness Ratio |
Units |
0,30 |
0,34 |
0,33 |
0,28 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,03 |
0,04 |
0,06 |
|
Net Financial Indebtedness Ratio |
Units |
1,78 |
0,62 |
0,93 |
0,96 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
3,62 |
22,62 |
18,70 |
2,10 |
|
Current ratio |
Units |
1,33 |
1,49 |
1,47 |
1,13 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,93 |
0,99 |
0,88 |
0,86 |
|
Structure's primary quotient |
Units |
2,42 |
20,67 |
16,57 |
1,34 |
|
Treasury's primary quotient |
Units |
0,24 |
0,08 |
0,07 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
496,62 |
324,98 |
346,69 |
587,66 |
|
Current Capital ( net ) |
Value |
3.255.683 |
2.631.646 |
2.432.340 |
135.886 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,76 |
2,09 |
1,68 |
1,61 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
12,58 |
10,65 |
7,60 |
5,01 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
20,38 |
17,71 |
12,21 |
13,67 |
|
Return on Investment ( R.O.I. ) |
% |
4,85 |
6,33 |
3,80 |
4,30 |
|
Return/ Sales |
% |
3,89 |
3,69 |
2,30 |
2,39 |
|
Extra Management revenues/charges incid. |
% |
52,24 |
51,75 |
57,71 |
27,17 |
|
Cash Flow |
Value |
487.427 |
291.441 |
214.117 |
47.597 |
|
Operating Profit |
Value |
687.959 |
514.167 |
293.801 |
71.380 |
|
Gross Operating Margin |
Value |
815.988 |
539.505 |
338.354 |
124.518 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
101,97 |
102,17 |
101,95 |
90,43 |
|
Debts to suppliers average term |
Days |
65,01 |
71,82 |
72,24 |
76,51 |
|
Average stock waiting period |
Days |
79,89 |
68,94 |
86,05 |
37,27 |
|
Rate of capital employed return ( Turnover
) |
Units |
1,25 |
1,72 |
1,65 |
1,64 |
|
Rate of stock return |
Units |
4,51 |
5,22 |
4,18 |
9,56 |
|
Labour cost incidence |
% |
4,79 |
4,69 |
4,95 |
4,81 |
|
Net financial revenues/ charges incidence |
% |
-0,53 |
-0,34 |
-0,64 |
-0,99 |
|
Labour cost on purchasing expenses |
% |
4,84 |
4,93 |
5,38 |
4,83 |
|
Short-term financing charges |
% |
0,89 |
0,93 |
1,60 |
2,90 |
|
Capital on hand |
% |
80,26 |
58,20 |
60,67 |
60,86 |
|
Sales pro employee |
Value |
1.178.935 |
1.073.130 |
981.304 |
686.413 |
|
Labour cost pro employee |
Value |
56.502 |
50.298 |
48.530 |
33.271 |
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 941
significant companies.
The companies cash their credits on an
average of 90 dd.
The average duration of suppliers debts is
about 77 dd.
The sector's profitability is on an average
of 1,61%.
The labour cost affects the turnover in the
measure of 4,81%.
Goods are held in stock in a range of 37 dd.
The difference between the sales volume and
the resources used to realize it is about 1,64.
The employees costs represent the 4,83% 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 24.960 protested subjects are
found; in the province they count to 2.664.
The insolvency index for the region is 0,70,
, while for the province it is 0,68.
Total Bankrupt companies in the province :
1.648.
Total Bankrupt companies in the region :
20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.62 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.