|
|
|
MIRA INFORM REPORT
|
Report No. : |
490135 |
|
Report Date : |
03.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LORAN
S.R.L. |
|
|
|
|
Registered Office : |
Via B.
Brugnoli, 3 37063 - Isola Della Scala
(Vr) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
01.06.1994 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Subject is engaged in Manufacture of metal structures and structure parts |
|
|
|
|
No. of Employees : |
From 51 to 70 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
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
|
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 and address
Loran
S.r.l.
Via B.
Brugnoli, 3
37063 - Isola della Scala (VR) -IT-
Summary
|
Fiscal
Code |
: |
02531520233 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
01/06/1994 |
|
Equity |
: |
125.000 |
|
Turnover
Range |
: |
7.750.000/9.000.000 |
|
Number
of Employees |
: |
from
51 to 70 |
Activity
Manufacture
of metal structures and structure parts
Legal
Data
Legal
Form : Limited liability company
|
Fiscal
Code : 02531520233 |
|
Chamber
of Commerce no. : 244599 of Verona since 24/05/1994 |
|
Firms'
Register : 37897 of Verona |
|
V.A.T.
Code : 02531520233 |
|
Establishment
date |
:
13/04/1994 |
|
|
Start
of Activities |
:
01/06/1994 |
|
|
Legal
duration |
:
31/12/2060 |
|
|
Nominal
Capital |
:
10.400 |
|
|
Subscribed
Capital |
:
10.400 |
|
|
Paid
up Capital |
:
10.400 |
|
Legal
mail : |
LORAN-SRL@LEGALMAIL.IT |
Members
|
|
Rocca |
Lino |
|
|
Born
in Verona |
(VR) |
on
30/07/1955 |
-
Fiscal Code : RCCLNI55L30L781M |
|
|
Residence: |
Delle
Magnolie |
,
9 |
-
37024 |
Negrar |
(VR) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
General
Director |
05/07/2011 |
||
|
Responsible
technician |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Guantieri |
Stefano |
|
|
Born
in Legnago |
(VR) |
on
24/03/1959 |
-
Fiscal Code : GNTSFN59C24E512R |
|
|
Residence: |
B.
Brugnoli |
,
3 |
-
37063 |
Isola
della Scala |
(VR) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
15/05/2017 |
||
|
Board
Chairman |
15/05/2017 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Geroli |
Ernesto |
|
|
Born
in Maleo |
(MI) |
on
06/03/1951 |
-
Fiscal Code : GRLRST51C06E852V |
|
|
Residence: |
Brugnoli |
,
3 |
-
37063 |
Isola
della Scala |
(VR) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
15/05/2017 |
|
|
ELEKTRA
FINANZIERUNG AG |
|
|
Born |
on
12/00/1920 |
-
Fiscal Code : 92514020152 |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole
partner |
09/01/2017 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Togni |
Andrea |
|
|
Born
in Sorengo |
(
) |
on
21/04/1975 |
-
Fiscal Code : TGNNDR75D21Z133N |
|
|
Residence: |
Brugnoli |
,
3 |
-
37063 |
Isola
della Scala |
(VR) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
15/05/2017 |
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.
|
|
Guantieri |
Stefano |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Riello
S.p.a. |
Legnago
(VR) - IT - |
02641790239 |
Procurator |
Withdrawn |
Registered |
|
Vortice
Elettrosociali Spa |
Tribiano
(MI) - IT - |
10766420151 |
Procurator |
Active |
Registered |
|
Vortice
Elettrosociali Spa |
Tribiano
(MI) - IT - |
10766420151 |
General
Director |
Withdrawn |
Registered |
|
|
ELEKTRA
FINANZIERUNG AG |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Vortice
Elettrosociali Spa |
Tribiano
(MI) - IT - |
10766420151 |
Sole
partner |
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 |
|
ELEKTRA
FINANZIERUNG AG |
92514020152 |
10.400
.Eur |
100,00 |
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 |
|
B.
Brugnoli |
,
3 |
-
37063 |
-
Isola della Scala |
(VR) |
-
IT - |
|
PHONE |
:
0456631042 |
|
FAX |
:
0456631039 |
|
Legal
mail |
:
LORAN-SRL@LEGALMAIL.IT |
|
Employees |
:
54 |
|
Fittings
and Equipment for a value of 340.000 |
Eur |
|
Stocks
for a value of 1.290.000 |
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
The
company is active since 1994
Balance sheets for the years 2014, 2015 and
2016 were analyzed.
In the economic management , good and bad
results followed on by turns. with a negative economic result in the last
financial year. In the last financial year a drop in sales has been registered
(-11,14%).
The operating result is negative.
The operating loss amounts to Eur. -184.982 .
During the latest financial year the gross operating
margin amounted to Eur. 219.118 showing an upward trend if compared to 2015.
Financial condition is not balanced as own
capitals do not cover debts, indebtedness level is in fact high (25,57) which
is anyway decreasing.
It's shareholders funds amount to Eur.
111.221 , increasing by 114,75% if compared to the year before.
In the year 2016 total debts amounted to Eur.
6.733.319 , a more or less stable value.
As far as financial debts are concerned the
rate is high; the average payments' period is slighlty high but lined up with
the field's average.
The available funds are good.
Trade credits average terms are slow, on
average 169,29 days. and higher than the average of the sector.
During financial year 2016 the cash flow
amounted to Eur. 261.507
In the last financial year labour cost was of
Eur. 2.254.799, with a 25,29% incidence on total costs of production. and a
26,95% incidence on sales volumes.
If compared to the sales volume (-0,6%), the
impact of the financial charges is limited.
Financial
Data
|
|
Complete
balance-sheet for the year |
al
31/12/2016 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
8.367.836 |
|
Profit
(Loss) for the period |
-137.609 |
|
|
Complete
balance-sheet for the year |
al
31/12/2015 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
9.417.138 |
|
Profit
(Loss) for the period |
-951.422 |
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
7.096.921 |
|
Profit
(Loss) for the period |
-1.419.894 |
|
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
8.241.953 |
|
Profit
(Loss) for the period |
-149.669 |
|
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
7.307.402 |
|
Profit
(Loss) for the period |
-891.339 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,12 |
0,14 |
0,15 |
0,20 |
|
Elasticity
Ratio |
Units |
0,88 |
0,86 |
0,85 |
0,77 |
|
Availability
of stock |
Units |
0,17 |
0,16 |
0,15 |
0,15 |
|
Total
Liquidity Ratio |
Units |
0,71 |
0,70 |
0,70 |
0,55 |
|
Quick
Ratio |
Units |
0,09 |
0,09 |
0,06 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
25,57 |
n.c. |
10,66 |
4,09 |
|
Self
Financing Ratio |
Units |
0,01 |
n.c. |
0,03 |
0,15 |
|
Capital
protection Ratio |
Units |
2,14 |
n.c. |
8,13 |
0,63 |
|
Liabilities
consolidation quotient |
Units |
1,10 |
1,20 |
1,51 |
0,16 |
|
Financing |
Units |
60,54 |
n.c. |
28,95 |
5,11 |
|
Permanent
Indebtedness Ratio |
Units |
0,53 |
0,49 |
0,61 |
0,31 |
|
M/L
term Debts Ratio |
Units |
0,51 |
0,61 |
0,58 |
0,10 |
|
Net
Financial Indebtedness Ratio |
Units |
22,58 |
n.c. |
14,07 |
1,01 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
4,41 |
3,45 |
4,05 |
1,34 |
|
Current
ratio |
Units |
1,89 |
1,70 |
2,21 |
1,09 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
1,52 |
1,38 |
1,81 |
0,85 |
|
Structure's
primary quotient |
Units |
0,12 |
n.c. |
0,20 |
0,75 |
|
Treasury's
primary quotient |
Units |
0,19 |
0,18 |
0,17 |
0,05 |
|
Rate
of indebtedness ( Leverage ) |
% |
6811,78 |
n.c. |
3327,08 |
660,68 |
|
Current
Capital ( net ) |
Value |
3.135.543 |
2.242.972 |
3.063.516 |
80.037 |
|
RETURN |
|||||
|
Return
on Sales |
% |
3,13 |
-1,32 |
-13,90 |
3,45 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
-123,73 |
n.c. |
-717,98 |
7,93 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
-211,47 |
n.c. |
-912,75 |
23,28 |
|
Return
on Investment ( R.O.I. ) |
% |
-2,44 |
-16,74 |
-26,41 |
4,91 |
|
Return/
Sales |
% |
-2,21 |
-11,27 |
-24,49 |
4,60 |
|
Extra
Management revenues/charges incid. |
% |
n.c. |
n.c. |
n.c. |
26,08 |
|
Cash
Flow |
Value |
261.507 |
-124.260 |
-986.295 |
67.440 |
|
Operating
Profit |
Value |
-184.982 |
-1.061.642 |
-1.737.993 |
88.577 |
|
Gross
Operating Margin |
Value |
219.118 |
-230.148 |
-1.300.561 |
150.352 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
169,29 |
111,95 |
162,78 |
126,77 |
|
Debts
to suppliers average term |
Days |
147,83 |
105,04 |
123,62 |
141,48 |
|
Average
stock waiting period |
Days |
55,39 |
39,54 |
51,06 |
45,00 |
|
Rate
of capital employed return ( Turnover ) |
Units |
1,10 |
1,48 |
1,08 |
1,12 |
|
Rate
of stock return |
Units |
6,50 |
9,11 |
7,05 |
7,83 |
|
Labour
cost incidence |
% |
26,95 |
25,96 |
30,22 |
20,16 |
|
Net
financial revenues/ charges incidence |
% |
-0,60 |
-0,49 |
-1,24 |
-1,63 |
|
Labour
cost on purchasing expenses |
% |
25,29 |
23,39 |
24,64 |
20,64 |
|
Short-term
financing charges |
% |
0,81 |
0,91 |
1,62 |
2,63 |
|
Capital
on hand |
% |
90,54 |
67,36 |
92,71 |
89,16 |
|
Sales
pro employee |
Value |
119.540 |
123.909 |
105.924 |
163.688 |
|
Labour
cost pro employee |
Value |
32.211 |
32.172 |
32.013 |
32.486 |
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 3.053 significant companies.
The
companies cash their credits on an average of 127 dd.
The
average duration of suppliers debts is about 141 dd.
The
sector's profitability is on an average of 3,45%.
The
labour cost affects the turnover in the measure of 20,16%.
Goods
are held in stock in a range of 45 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,12.
The
employees costs represent the 20,64% of the production costs.
Statistical
Detrimental Data
Statistcally
the trade activity shows periods of crisis.
The
area is statistically considered lowly risky.
In
the region 13.782 protested subjects are found; in the province they count to
2.673.
The
insolvency index for the region is 0,30, , while for the province it is 0,31.
Total
Bankrupt companies in the province : 2.982.
Total
Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.07 |
|
|
1 |
INR 91.33 |
|
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
: |
PRI |
|
|
|
|
Report Prepared
by : |
DNS |
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.