|
|
|
MIRA INFORM REPORT
|
Report No. : |
490213 |
|
Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
FIN-TES S.R.L. |
|
|
|
|
Registered Office : |
Via Sergio Ramelli, 62, 52100 - Arezzo (AR) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
03.05.1984 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Clothing and Accessories |
|
|
|
|
No. of Employees : |
From 11 To 15 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
Italy |
A1 |
A1 |
|
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 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, 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 records. The
government still faces pressure from investors and European partners to sustain
its efforts to address Italy's longstanding structural impediments to growth,
such as 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 late 2011. In 2015-16, Italy’s economy grew more than 0.8%
each year, but picked up in 2017. In 2017, overall unemployment was 11.4%, but
youth unemployment remained high at 37.1%.
|
Source
: CIA |
Company
name & address
FIN-TES S.R.L.
Via Sergio Ramelli, 62
52100 - Arezzo (AR) -IT-
Summary
|
Fiscal Code |
: |
01116150515 |
|
Legal Form |
: |
Limited Liability Company |
|
start of Activities |
: |
03/05/1984 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
From 11 To 15 |
Activity
Wholesale of clothing and accessories
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 01116150515 |
|
Chamber of Commerce no. : 83970 of Arezzo
since 28/05/1984 |
|
Firms' Register : AR002-7697 of Arezzo
since 19/02/1996 |
|
V.A.T. Code : 01116150515 |
|
Tribunal Co. Register : 7697 of |
|
Foundation date |
: 03/05/1984 |
|
|
Establishment date |
: 03/05/1984 |
|
|
Start of Activities |
: 03/05/1984 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 119.000 |
|
|
Subscribed Capital |
: 119.000 |
|
|
Paid up Capital |
: 119.000 |
|
Legal mail : |
FIN-TES@PEC.FIN-TES.COM |
Members
|
|
Fini |
Sandro |
|
|
Born in Arezzo |
(AR) |
on 23/09/1949 |
- Fiscal Code : FNISDR49P23A390E |
|
|
Residence: |
Di Colcitrone |
, 32 |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/01/2012 |
||
|
Board Chairman |
03/01/2012 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Fini |
Andrea |
|
|
Born in Arezzo |
(AR) |
on 09/05/1972 |
- Fiscal Code : FNINDR72E09A390S |
|
|
Residence: |
Le Cave |
, 103 |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/01/2012 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Fini |
Marco |
|
|
Born in Arezzo |
(AR) |
on 24/05/1981 |
- Fiscal Code : FNIMRC81E24A390U |
|
|
Residence: |
Muciafora |
, 13/D |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/01/2012 |
||
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Fini |
Nicolo' |
|
|
Born in Arezzo |
(AR) |
on 06/08/1993 |
- Fiscal Code : FNINCL93M06A390S |
|
|
Residence: |
Colcitrone |
, 32 |
- 52100 |
Arezzo |
(AR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
03/01/2012 |
||
|
Partner |
|
|
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.
|
|
Fini |
Sandro |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Immobilfin S.r.l. |
Arezzo (AR) - IT - |
02293680514 |
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 |
|
Fini Andrea |
Arezzo - IT - |
FNINDR72E09A390S |
39.666 .Eur |
33,33 |
|
Fini Marco |
Arezzo - IT - |
FNIMRC81E24A390U |
39.666 .Eur |
33,33 |
|
Fini Nicolo' |
Arezzo - IT - |
FNINCL93M06A390S |
39.666 .Eur |
33,33 |
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 |
since 03/05/1984 |
|
Sergio Ramelli |
, 62 |
- 52100 |
- Arezzo |
(AR) |
- IT - |
|
Total Surface: 130 Sq.mt. |
|
Legal mail |
: FIN-TES@PEC.FIN-TES.COM |
|
Employees |
: 11 |
|
Assistants |
: 1 |
|
Fittings and Equipment for a value of
67.000 |
Eur |
|
Stocks for a value of 1.960.000 |
Eur |
|
Vehicles for a value of 36.000 |
Eur |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited partnership |
Limited liability company |
24/02/1988 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
Splitting-up project and setting-up of new
co |
|
|
Date |
Merging/Splitting-up Project-New Company: |
12/10/2010 |
|
|
Splitting-up and setting-up of a new
company |
|
MARIM SRL |
|
|
, Arezzo |
- IT - |
|
|
Date |
Splitting-up: |
28/12/2010 |
|
|
Splitting-up project and setting-up of new
co |
|
|
Date |
Merging/Splitting-up Project-New Company: |
28/04/2017 |
|
|
Splitting-up and setting-up of a new
company |
|
IMMOBILFIN S.R.L. |
|
|
, Arezzo |
- IT - |
|
|
Date |
Splitting-up: |
29/08/2017 |
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 firm under review, by the reported
percentages, owns the following real estates:
|
Town |
Cadastre |
No. Immovables |
Up to Date |
|
AREZZO (AR) |
Buildings |
1 |
31/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' superficiaria per 1/1 |
AREZZO (AR) VIA ISACCO NEWTON, 60 Piano 1 |
A/104 |
528 |
3 |
zona2 cat. C/2 |
6 |
731 mq |
Euro:1.774,39 |
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
Company's starting of activities dates back to
1984.
Balance sheets for the years 2014, 2015 and
2016 were analyzed.
Under an economic point of view, profits were
registered during the last years with a r.o.e. of 0,79% in 2016 with a stable
trend in the turnover.
The return on Investment in the last
financial year was positive (2,15%) falling within the field's average.
The amount of the operating result for the
year 2016 is of Eur. 189.375 ,showing stability in respect to the value of
2015.
The economic management produced a gross
operating margin of Eur. 262.354 ,with no change if compared to the year
before.
The analysis shows a fair financial position
as the indebtedness volume is acceptable (1,2) yet on the increase as against
the previous accounting period.
It's shareholders funds amount to Eur.
3.527.155 , stable in comparison with the value of the previous year.
During the last financial year debts totalled
Eur. 5.001.211 (Eur. 681.825 of which were m/l term debts) on the same levels
as the year before.
The financial exposure is moderate, on the
other hand the recourse to commercial credit is high, with a high average
payment period and higher than sector's average.
Liquid assets are good.
Due from customers average term is high and
equal to 275,34 days. even higher than the average of the specific sector.
During financial year 2016 the cash flow
amounted to Eur. 101.005
Labour cost expenses amount to Eur. 413.841 ,
representing 6,72% on the total of production costs. , whereas 6,65% is the
incidence on sales revenues.
Financial charges have a high incidence
(-1,95%) on turnover figures.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.222.082 |
|
Profit (Loss) for the period |
28.026 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.257.346 |
|
Profit (Loss) for the period |
25.802 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.160.468 |
|
Profit (Loss) for the period |
11.338 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.818.142 |
|
Profit (Loss) for the period |
20.958 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.302.598 |
|
Profit (Loss) for the period |
-93.456 |
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 31/12/2016 - 12 Mesi
- Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2015 - 12 Mesi
- Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2014 - 12 Mesi
- Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2016 |
as at 31/12/2015 |
as at 31/12/2014 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,21 |
0,20 |
0,23 |
0,09 |
|
Elasticity Ratio |
Units |
0,78 |
0,80 |
0,77 |
0,89 |
|
Availability of stock |
Units |
0,22 |
0,25 |
0,23 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,56 |
0,54 |
0,54 |
0,54 |
|
Quick Ratio |
Units |
0,01 |
0,02 |
0,01 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,20 |
1,15 |
1,27 |
3,95 |
|
Self Financing Ratio |
Units |
0,40 |
0,39 |
0,38 |
0,17 |
|
Capital protection Ratio |
Units |
0,96 |
0,96 |
0,96 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,19 |
0,27 |
0,21 |
0,10 |
|
Financing |
Units |
1,42 |
1,48 |
1,52 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,50 |
0,52 |
0,49 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,10 |
0,13 |
0,10 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,64 |
0,57 |
0,71 |
1,04 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,35 |
2,63 |
2,15 |
2,37 |
|
Current ratio |
Units |
1,59 |
1,70 |
1,54 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,14 |
1,16 |
1,08 |
0,80 |
|
Structure's primary quotient |
Units |
1,90 |
1,99 |
1,69 |
1,48 |
|
Treasury's primary quotient |
Units |
0,02 |
0,05 |
0,03 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
249,23 |
255,88 |
260,70 |
602,26 |
|
Current Capital ( net ) |
Value |
2.568.451 |
2.932.296 |
2.428.736 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
1,62 |
1,52 |
2,75 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,79 |
0,74 |
0,33 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
1,93 |
1,79 |
2,20 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
2,15 |
2,25 |
2,37 |
4,18 |
|
Return/ Sales |
% |
3,04 |
3,23 |
3,49 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
14,80 |
12,78 |
5,28 |
27,96 |
|
Cash Flow |
Value |
101.005 |
94.837 |
169.212 |
44.823 |
|
Operating Profit |
Value |
189.375 |
201.817 |
214.728 |
74.603 |
|
Gross Operating Margin |
Value |
262.354 |
270.852 |
372.602 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
275,34 |
262,13 |
278,04 |
113,70 |
|
Debts to suppliers average term |
Days |
175,50 |
186,30 |
178,59 |
118,14 |
|
Average stock waiting period |
Days |
113,61 |
130,68 |
120,27 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,71 |
0,70 |
0,68 |
1,25 |
|
Rate of stock return |
Units |
3,17 |
2,75 |
2,99 |
4,88 |
|
Labour cost incidence |
% |
6,65 |
6,48 |
6,98 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-1,95 |
-2,22 |
-2,26 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
6,72 |
6,51 |
6,95 |
8,25 |
|
Short-term financing charges |
% |
2,61 |
2,88 |
2,95 |
2,76 |
|
Capital on hand |
% |
141,28 |
143,09 |
146,99 |
79,85 |
|
Sales pro employee |
Value |
518.506 |
521.445 |
473.882 |
397.742 |
|
Labour cost pro employee |
Value |
34.486 |
33.770 |
33.059 |
33.267 |
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 |
: |
333.385 |
|
Population living in the region |
: |
3.598.269 |
|
Number of families in the region |
: |
1.474.681 |
Monthly family expences average in the region
(in Eur..) :
|
- per food products |
: |
444 |
|
- per non food products |
: |
2.009 |
|
- per energy consume |
: |
122 |
Sector Data
The values are calculated on a base of 9.175
significant companies.
The companies cash their credits on an
average of 114 dd.
The average duration of suppliers debts is
about 118 dd.
The sector's profitability is on an average
of 2,03%.
The labour cost affects the turnover in the
measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and
the resources used to realize it is about 1,25.
The employees costs represent the 8,25% 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 2.227.
The insolvency index for the region is 0,70,
, while for the province it is 0,67.
Total Bankrupt companies in the province :
1.151.
Total Bankrupt companies in the region :
20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.07 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
|
Euro |
1 |
INR 79.94 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.