MIRA INFORM REPORT
|
Report No. : |
342222 |
|
Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
IL FIORINO S.R.L. |
|
|
|
|
Registered Office : |
Via Carriona, 388 AVENZA 54031 – Carrara (MS) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.04.1997 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Other Building Materials. |
|
|
|
|
No. of Employees : |
From 6 to 10 |
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
IL FIORINO S.R.L.
Via Carriona, 388 AVENZA
54031 - Carrara (MS) -IT-
Summary
|
Fiscal
Code |
: |
00670800457 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
14/10/1997 |
|
Equity |
: |
Over
2.582.254 |
|
Turnover
Range |
: |
15.500.000/18.000.000
|
|
Number
of Employees |
: |
fom
6 to 10 |
Activity
Wholesale
of other building materials
Legal
Data
Legal
Form : Limited liability company
|
Fiscal
Code : 00670800457 |
|
Chamber
of Commerce no. : 100792 of Massa since 19/05/1997 |
|
Firms'
Register : MS-1997-21740 of Massa since 22/05/1997 |
|
V.A.T.
Code : 00670800457 |
|
R.
E. C. no. : 19839 of Massa since 14/10/1997 |
|
Establishment
date |
:
17/04/1997 |
|
Start
of Activities |
:
14/10/1997 |
|
Legal
duration |
:
31/12/2050 |
|
Nominal
Capital |
:
15.600 |
|
Subscribed
Capital |
:
15.600 |
|
Paid
up Capital |
:
15.600 |
|
Legal
mail : |
ILFIORINO1SRL@PEC.IT |
Members
|
|
Rossi |
Andrea |
|
|
Born
in Carrara |
(MS) |
on
03/12/1970 |
-
Fiscal Code : RSSNDR70T03B832L |
|
|
Residence: |
Pascoli |
,
15/BIS |
-
54033 |
Carrara |
(MS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
12/07/2012 |
||
|
Board
Chairman |
12/07/2012 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Rossi |
Mario |
|
|
Born
in Carrara |
(MS) |
on
08/10/1961 |
-
Fiscal Code : RSSMRA61R08B832Z |
|
|
Residence: |
Dei
Mille |
,
77 |
-
54033 |
Carrara |
(MS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
12/07/2012 |
||
|
Partner |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Cason |
Enrico
Renzo |
|
|
Born
in Meina |
(NO) |
on
01/07/1941 |
-
Fiscal Code : CSNNCR41L01F093K |
|
|
Residence: |
Carriona |
,
388 |
-
54033 |
Carrara |
(MS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
12/07/2012 |
|
|
Chelotti |
Rossella |
|
|
Born
in Carrara |
(MS) |
on
16/02/1966 |
-
Fiscal Code : CHLRSL66B56B832V |
|
|
Residence: |
Carriona |
,
388 |
-
54033 |
Carrara |
(MS) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
12/07/2012 |
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.
|
|
Rossi |
Andrea |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Societa'
Per Azioni Il Fiorino |
Carrara
(MS) - IT - |
00946880481 |
Managing
Director |
Active |
Registered |
|
Societa'
Per Azioni Il Fiorino |
Carrara
(MS) - IT - |
00946880481 |
Director |
Active |
Registered |
|
D.r.t.
Marmi S.r.l. |
Carrara
(MS) - IT - |
00636290454 |
Managing
Director |
Withdrawn |
Registered |
|
Il
Fiorino Stone - Societa' A Responsabilita' Limitata |
Carrara
(MS) - IT - |
00619240450 |
Managing
Director |
Active |
Registered |
|
Il
Fiorino Stone - Societa' A Responsabilita' Limitata |
Carrara
(MS) - IT - |
00619240450 |
Director |
Active |
Registered |
|
Escavazione
La Gioia S.r.l. |
Carrara
(MS) - IT - |
01041790450 |
Director |
Withdrawn |
Registered |
|
Societa'
Apuana Marmi S.r.l. In Sigla S.a.m. S.r.l. |
Carrara
(MS) - IT - |
00297570459 |
Director |
Active |
Registered |
|
Societa'
Apuana Marmi S.r.l. In Sigla S.a.m. S.r.l. |
Carrara
(MS) - IT - |
00297570459 |
Memb.of
the Executive Committee |
Active |
Registered |
|
N.a.m.a.
Trading S.r.l. |
Carrara
(MS) - IT - |
01050320454 |
Director |
Withdrawn |
Registered |
|
Edilbuilding
S.r.l. |
Carrara
(MS) - IT - |
01098370453 |
Director |
Active |
Registered |
|
Edilbuilding
S.r.l. |
Carrara
(MS) - IT - |
01098370453 |
Board
Chairman |
Active |
Registered |
|
Adico
S.r.l. |
Carrara
(MS) - IT - |
01152040455 |
Managing
Director |
Active |
Registered |
|
Adico
S.r.l. |
Carrara
(MS) - IT - |
01152040455 |
Director |
Active |
Registered |
|
Il
Fiorino Holding S.r.l. |
Carrara
(MS) - IT - |
01208870459 |
Sole
Director |
Active |
Registered |
|
Marmi
Carrara - Canalgrande S.r.l. |
Carrara
(MS) - IT - |
01080080458 |
Director |
Active |
Registered |
|
Marmi
Carrara S.r.l. |
Carrara
(MS) - IT - |
01079610455 |
Managing
Director |
Active |
Registered |
|
Marmi
Carrara S.r.l. |
Carrara
(MS) - IT - |
01079610455 |
Director |
Active |
Registered |
|
Marmi
Carrara S.r.l. |
Carrara
(MS) - IT - |
01079610455 |
Memb.of
the Executive Committee |
Withdrawn |
Registered |
|
Business
Land S.r.l. |
Carrara
(MS) - IT - |
01232630457 |
Director |
Active |
Registered |
|
Kama
S.r.l. |
Carrara
(MS) - IT - |
01284690458 |
Director |
Active |
Registered |
|
Kama
S.r.l. |
Carrara
(MS) - IT - |
01284690458 |
Board
Chairman |
Active |
Registered |
|
Fosso
Cardellino S.r.l. |
Carrara
(MS) - IT - |
01244930457 |
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 |
|
Rossi
Andrea |
Carrara
- IT - |
RSSNDR70T03B832L |
10.920
.Eur |
70,00 |
|
Rossi
Mario |
Carrara
- IT - |
RSSMRA61R08B832Z |
4.680
.Eur |
30,00 |
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 |
|
Il
Fiorino Stone - Societa' A Responsabi lita' Limitata |
Carrara
- IT - |
00619240450 |
96.900
.Eur |
100,00 |
Active |
||
|
Escavazione
La Gioia S.r.l. |
Carrara
- IT - |
01041790450 |
1.666
.Eur |
16,66 |
Active |
||
|
Il
Fiorino Holding S.r.l. |
Carrara
- IT - |
01208870459 |
52.000
.Eur |
52,00 |
Active |
||
|
Business
Land S.r.l. |
Carrara
- IT - |
01232630457 |
35.000
.Eur |
33,33 |
Active |
||
|
Kama
S.r.l. |
Carrara
- IT - |
01284690458 |
50.000
.Eur |
50,00 |
Active |
||
|
Marmi
Pregiati Carrara S.r.l. |
01308090453 |
25.000
.Eur |
25,00 |
Active |
Firm's
location and structure
In
order to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
Carriona |
,
388 |
-
54033 |
-
Carrara |
(MS) |
-
IT - |
|
PHONE |
:
0585845040 |
|
Legal
mail |
:
ILFIORINO1SRL@PEC.IT |
|
- |
Branch |
(Warehouse) |
since
07/01/2014 |
|
Provinciale |
,
156 |
-
54033 |
-
Carrara |
(MS) |
-
IT - |
|
Employees |
:
8 |
|
Assistants |
:
1 |
|
Fittings
and Equipment for a value of 2.000 |
Eur |
|
Stocks
for a value of 1.980.000 |
Eur |
The
firm has a direct commercial organization
Sales
area on a regional scale.
Transports
are mainly done using own vehicles and third parties ones
The
company sells mainly to retailers and local consumers
Subject
generally proposes terms of sale between 30 and 60 days.
Subject
usually collects by cash order and drafts.
Purchases
are mainly paid with terms of 30/90 days.
Payments
are settled by cash order and drafts.
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
Company's
starting of activities dates back to 1997.
The
eonomic-financial analysis is based on the latest 3 b/s.
Under
an economic point of view, profits were registered during the last years with a
r.o.e. of 31,25% in 2013 but without a significant increase in the turnover.
The
return on Investment in the last financial year was positive (19,43%) and even
better than sector's average.
The
amount of the operating result is equal to Eur. 2.941.342 ,showing stability in
respect to the value of 2012.
A
gross operating margine for a value of Eur. 3.004.326 was reached. ,with no
change if compared to the year before.
Very
good financial situation: shareholder's equity covers short-terms debts with an
indebtedness level equal to 0,58 and with an upward trend compared to the
previous year.
With
regard to equity capital, an amount of Eur. 7.204.895 is registered. ,
increasing by 45,85% if compared to the financial year 2012.
During
the last financial year debts totalled Eur. 7.764.271 (Eur. 1.838.340 of which
were m/l term debts) , a more or less stable value.
Bank
exsposure is limited and the suppliers' credit is modest too, 78,25 gg. is the
payment average period below the sector's average.
The
management determines a good range of liquidity.
Trade
credits are collected slowly, average term is 106,72 days. but in line with the
sector.
During
financial year 2013 the cash flow amounted to Eur. 2.314.367
In
the last financial year labour cost was of Eur. 286.745, with a 1,92% incidence
on total costs of production. , with a 1,64% incidence on turnover.
Financial
incomes cover financial charges.
Financial
Data
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
17.528.722 |
|
Profit
(Loss) for the period |
2.251.383 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
16.812.768 |
|
Profit
(Loss) for the period |
1.690.353 |
|
|
Complete
balance-sheet for the year |
al
31/12/2011 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
16.366.356 |
|
Profit
(Loss) for the period |
816.220 |
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 31/12/2013 - 12 Mesi - Currency: - Amounts x 1 |
|
-
Balance Sheet as at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
-
Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
RATIOS |
Value
Type |
as
at 31/12/2013 |
as
at 31/12/2012 |
as
at 31/12/2011 |
Sector
Average |
|
COMPOSITION
ON INVESTMENT |
|||||
|
Rigidity
Ratio |
Units |
0,15 |
0,09 |
0,04 |
0,11 |
|
Elasticity
Ratio |
Units |
0,85 |
0,91 |
0,95 |
0,87 |
|
Availability
of stock |
Units |
0,13 |
0,12 |
0,15 |
0,22 |
|
Total
Liquidity Ratio |
Units |
0,72 |
0,79 |
0,80 |
0,56 |
|
Quick
Ratio |
Units |
0,12 |
0,18 |
0,03 |
0,02 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
0,58 |
0,94 |
1,86 |
3,81 |
|
Self
Financing Ratio |
Units |
0,48 |
0,34 |
0,27 |
0,17 |
|
Capital
protection Ratio |
Units |
0,69 |
0,65 |
0,74 |
0,65 |
|
Liabilities
consolidation quotient |
Units |
0,32 |
0,33 |
0,46 |
0,12 |
|
Financing |
Units |
1,08 |
1,94 |
2,72 |
4,72 |
|
Permanent
Indebtedness Ratio |
Units |
0,60 |
0,50 |
0,50 |
0,30 |
|
M/L
term Debts Ratio |
Units |
0,13 |
0,16 |
0,23 |
0,07 |
|
Net
Financial Indebtedness Ratio |
Units |
0,30 |
0,51 |
1,21 |
1,28 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
3,96 |
5,52 |
11,36 |
2,06 |
|
Current
ratio |
Units |
2,17 |
1,83 |
1,92 |
1,16 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
1,83 |
1,60 |
1,61 |
0,84 |
|
Structure's
primary quotient |
Units |
3,13 |
3,73 |
6,09 |
1,28 |
|
Treasury's
primary quotient |
Units |
0,30 |
0,36 |
0,05 |
0,03 |
|
Rate
of indebtedness ( Leverage ) |
% |
210,10 |
296,71 |
374,74 |
591,61 |
|
Current
Capital ( net ) |
Value |
6.905.794 |
6.043.849 |
5.559.845 |
219.071 |
|
RETURN |
|||||
|
Return
on Sales |
% |
13,20 |
10,58 |
5,40 |
2,22 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
31,25 |
34,22 |
25,12 |
6,27 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
45,82 |
51,13 |
38,68 |
15,95 |
|
Return
on Investment ( R.O.I. ) |
% |
19,43 |
17,17 |
11,30 |
4,19 |
|
Return/
Sales |
% |
16,78 |
14,97 |
8,41 |
3,42 |
|
Extra
Management revenues/charges incid. |
% |
76,54 |
67,15 |
59,30 |
29,26 |
|
Cash
Flow |
Value |
2.314.367 |
1.779.348 |
883.649 |
61.669 |
|
Operating
Profit |
Value |
2.941.342 |
2.517.152 |
1.376.416 |
95.558 |
|
Gross
Operating Margin |
Value |
3.004.326 |
2.606.147 |
1.443.845 |
144.934 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
106,72 |
114,51 |
97,13 |
120,94 |
|
Debts
to suppliers average term |
Days |
78,25 |
97,56 |
108,78 |
120,04 |
|
Average
stock waiting period |
Days |
40,68 |
36,35 |
40,45 |
61,92 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,16 |
1,15 |
1,34 |
1,27 |
|
Rate
of stock return |
Units |
8,85 |
9,90 |
8,90 |
5,74 |
|
Labour
cost incidence |
% |
1,64 |
1,59 |
1,29 |
7,77 |
|
Net
financial revenues/ charges incidence |
% |
0,45 |
-0,28 |
-0,73 |
-1,26 |
|
Labour
cost on purchasing expenses |
% |
1,92 |
1,88 |
1,33 |
7,90 |
|
Short-term
financing charges |
% |
1,53 |
1,22 |
1,36 |
2,67 |
|
Capital
on hand |
% |
86,36 |
87,17 |
74,40 |
78,39 |
|
Sales
pro employee |
Value |
2.191.090 |
2.101.596 |
2.045.794 |
437.713 |
|
Labour
cost pro employee |
Value |
35.843 |
33.382 |
26.328 |
33.928 |
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 6.137 significant companies.
The
companies cash their credits on an average of 121 dd.
The
average duration of suppliers debts is about 120 dd.
The
sector's profitability is on an average of 2,22%.
The
labour cost affects the turnover in the measure of 7,77%.
Goods
are held in stock in a range of 62 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,27.
The
employees costs represent the 7,90% 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 24.960 protested subjects are found; in the province they count to
1.432.
The
insolvency index for the region is 0,70, , while for the province it is 0,72.
Total
Bankrupt companies in the province : 1.056.
Total
Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.63 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.