3decades

MIRA INFORM REPORT

Report No. :	502849
Report Date :	09.04.2018

IDENTIFICATION DETAILS

Name :	HYDROTECH ENGINEERING S.R.L.

Registered Office :	Via Vittorio Emanuele Ii, 9, 35026- Conselve(PD) -IT

Country :	Italy

Financials (as on) :	31.12.2016

Date of Incorporation :	05.11.2001

Legal Form :	Limited liability company

Line of Business :	Manufacture of purification and filtering liquids and gases equipment for non-domestic use

No. of Employees :	From 11 to 15

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good

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

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Italy

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

ITALY - ECONOMIC OVERVIEW

Italy’s economy compromises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. 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, reaching 131% of GDP in 2017. 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 longstanding structural economic problems, including labor market inefficiencies, a sluggish judicial system, and a weak banking sector. Italy’s economy returned to modest growth in late 2014 for the first time since 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in 2017 growth accelerated to 1.5% of GDP. In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%.

Source : CIA

Company name and address

Hydrotech Engineering S.r.l.

Via

Vittorio Emanuele Ii,

35026

- Conselve

(PD)

-IT-

Summary

Fiscal Code	:	03677280285
Legal Form	:	Limited liability company
start of Activities	:	05/11/2001
Equity	:	1.500.000
Turnover Range	:	9.000.000/10.000.000
Number of Employees	:	from 11 to 15

Activity

Manufacture of purification and filtering liquids and gases equipment for non-domestic use

Legal Data

Legal Form : Limited liability company

Fiscal Code : 03677280285

Chamber of Commerce no. : 328298 of Padova since 14/11/2001

Chamber of Commerce no. : 302378 of Vicenza

V.A.T. Code : 03677280285

Establishment date	: 05/11/2001
Start of Activities	: 05/11/2001
Legal duration	: 31/12/2050
Nominal Capital	: 50.000
Subscribed Capital	: 50.000
Paid up Capital	: 50.000

Legal mail :

HYDROTECHENGINEERING@PEC.IT

Members

Chimica Ecologica S.p.a.

Residence:

Dell'artigianato

, 13/BIS

- 36030

Villaverla

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Partner

No Prejudicial events are reported

No Protests registered

Briani

Filippo

Born in Padova

(PD)

on 22/05/1973

- Fiscal Code : BRNFPP73E22G224O

Residence:

Matteotti

, 14B

- 35020

Masera' di Padova

(PD)

- IT -

Position	Since	Shares Amount	% Ownership
Sole Director	31/03/2014

No Prejudicial events are reported

No Protests registered

Companies connected to members *

*checkings have been performed on a national scale.

In this module the companies in which members hold/held positions are listed.

The Members of the subject firm are not reported to be Members in other companies.

Capital Shareholders

Shareholders' list as at date of data collection:

Firm's Style / Name	Seat / Residence	Fiscal Code	Owned Shares	% Ownership
Chimica Ecologica S.p.a.	Villaverla - IT -	01888870241	15.000 .Eur	30,00
Briani Filippo	Masera' di Padova - IT -	BRNFPP73E22G224O	26.000 .Eur	52,00

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

Vittorio Emanuele Ii

, 9

- 35026

- Conselve

(PD)

- IT -

Legal mail

: HYDROTECHENGINEERING@PEC.IT

Branch

(Operating branch)

since 31/03/2008

Del Lavoro

, 8

- 35030

- Rovolon

(PD)

- IT -

Employees

: 14

Fittings and Equipment for a value of 31.000

Eur

Stocks for a value of 1.000.000

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.

National Real Estates Survey

The requested subject is not present c/o the CADASTRE OFFICES.

All responsibilities are declined regarding any possible omissions concerning the given results. Therefore, we advise to request for "Hypothecating Survey Inspection" c/o the locally competent RR.II. Immovables Registry, as this service doesn't fully guarantees the actual title of the Real Estates of the requested Subject.

Financial and Economical Analysis

Subject is active since 2001

Balance sheets for the years 2014, 2015 and 2016 were analyzed.

Under the financial profile unstable results are noted. anyway in 2016 a positive result was achieved (r.o.e. 25,81%).

The operating result was positive in the last financial year (10,8%) falling within the field's average.

The amount of the operating result for the year 2016 is of Eur. 601.256 rising (+more then 100%) in relation to the previous year.

A gross operating margine for a value of Eur. 672.084 was reached. growing by more then 100% if compared to the year before.

The analysis shows a fair financial position as the indebtedness volume is acceptable (1,42) and decreasing as against 2015.

Subject can manage an equity capital funds for an amount of Eur. 1.346.498 with a growth of 28,34% in 2016.

Total indebtedness was equal to Eur. 4.087.570 (Eur. 486.869 was the value of m/l term debts) as opposed to Eur. 6.565.914 in 2015, with a decrease equal to -37,74%.

The financial exposure is moderate, on the other hand the recourse to commercial credit is high, with a high average payment period even in comparison with the sector's.

Neverthless available funds are good.

Credits are collected in 84,68 days on the average. , a value lower than the sector's average.

Eur. 410.355 is the value of cash flow during the year 2016

Labour cost amounts to Eur. 738.425, with a 10,33% incidence on production costs. , whereas the incidence on sales revenues is of 7,71%.

The incidence of the financial charges is of -1,02% on the sales amount.

Financial Data