|
|
|
MIRA INFORM REPORT
|
Report No. : |
490251 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
KICO S.R.L |
|
|
|
|
Registered Office : |
Via Manfredi, SNC, 64025- Pineto(TE)-IT |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
31.08.2007 |
|
|
|
|
Legal Form : |
Limited liability
company |
|
|
|
|
Line of Business : |
Manufacture
of furniture |
|
|
|
|
No. of Employees : |
From 16 to 25 |
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 : |
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
|
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
|
Kico
S.r.l. |
|
Via |
Manfredi, |
SNC |
|
64025 |
-
Pineto |
(TE) |
-IT- |
Summary
|
Fiscal
Code |
: |
01672560677 |
|
Legal
Form |
: |
Limited
liability company |
|
start
of Activities |
: |
10/10/2007 |
|
Equity |
: |
400.000 |
|
Turnover
Range |
: |
6.500.000/7.750.000 |
|
Number
of Employees |
: |
from 16
to 25 |
Activity
MANUFACTURE
OF FURNITURE
Legal Data
Legal
Form : Limited liability company
|
Fiscal
Code : 01672560677 |
|
Chamber
of Commerce no. : 143186 of Teramo since 17/09/2007 |
|
V.A.T.
Code : 01672560677 |
|
Establishment
date |
:
31/08/2007 |
|
|
Start
of Activities |
:
10/10/2007 |
|
|
Legal
duration |
:
31/12/2050 |
|
|
Nominal
Capital |
:
10.000 |
|
|
Subscribed
Capital |
:
10.000 |
|
|
Paid up
Capital |
:
10.000 |
|
Legal
mail : |
KICO@GMPEC.IT |
Members
|
Grossi |
Quinto |
|
Born in
Montefino |
(TE) |
on
17/01/1965 |
-
Fiscal Code : GRSQNT65A17F500B |
|
Residence: |
Irlanda |
, 2 |
- 64025 |
Pineto |
(TE) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole
Director |
13/11/2009 |
|
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.
|
Grossi |
Quinto |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Gran
Caffe' De Paris S.n.c. Di Grossi SiLvano E C. |
Pineto
(TE) - IT - |
00667400675 |
Partner |
Withdrawn |
Registered |
|
Ar.be.
Legno S.r.l. |
Pineto
(TE) - IT - |
01288290420 |
Director |
Active |
Registered |
|
Ar.be.
Legno S.r.l. |
Pineto
(TE) - IT - |
01288290420 |
Board
Chairman |
Active |
Registered |
|
Societa'
Agricola Cerrano S.a.s. Di Grossi Quinto E C. Piu' Brevemente Denomina |
Pineto (TE)
- IT - |
01036270674 |
General
Partner |
Active |
Registered |
|
La
Terrazza S.a.s. Di Quinto Grossi E C. |
Pineto
(TE) - IT - |
01461690677 |
General
Partner |
Active |
Registered |
|
Bva
Design S.r.l. |
Assisi
(PG) - IT - |
03246590545 |
Director |
Withdrawn |
Merged |
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 |
|
Grossi
Quinto |
Pineto
- IT - |
GRSQNT65A17F500B |
8.000
.Eur |
80,00 |
|
Arangiaro
Domenica |
Pineto
- IT - |
RNGDNC58A53E958O |
1.000
.Eur |
10,00 |
|
Arangiaro
Antonio |
Giulianova
- IT - |
RNGNTN59A31E958V |
1.000
.Eur |
10,00 |
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 |
|
Manfredi |
, SNC |
- 64025 |
-
Pineto |
(TE) |
- IT - |
|
Legal
mail |
:
KICO@GMPEC.IT |
|
- |
Branch |
(Warehouse) |
since
02/04/2012 |
|
Torre
San Rocco |
, SNC |
- 64025 |
-
Pineto |
(TE) |
- IT - |
|
Employees |
: 25 |
|
Stocks
for a value of 1.550.000 |
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 firm
under review, by the reported percentages, owns the following real estates:
|
Town |
Cadastre |
No.
Immovables |
Up to
Date |
|
PINETO
(TE) |
Land |
2 |
31/01/2018 |
|
Land
Details |
|
Cadastre |
Title |
Location |
Sheet
No. |
Particle
No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial
Rent |
Part
No. |
|
L |
Proprieta'
per 1/1 |
PINETO
(TE) |
1 |
169 |
VIGNETO |
1 |
2 are
20 ca |
R.D.Euro:2,22
R.A. Euro: 1,48 |
||
|
L |
Proprieta'
per 1/1 |
PINETO
(TE) |
1 |
208 |
SEMIN
IRRIG |
1 |
2 ha 51
are 90 ca |
R.D.Euro:292,71
R.A. Euro: 175,63 |
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 2007
An
eco-fin analysis has been made on the base od the b/s fo the years 2014, 2015
and 2016.
During
the last years, it achieved profits (r.o.e. 9,94% on 2016) with an increase in
2016 (+9,63%).
The
return on Investment in the last financial year was positive (0,81%) and
reflects the field's average.
An
operating result of Eur. 39.548 has been registered. showing a fall as opposed
to the previous year (-67,24%).
The
G.O.M. amounted to Eur. 185.855 , with a -54,13% decrease.
The ratio
between shareholder's equity and borrowed capital is not well balanced, the
indebtedness level is equal to 7,7 increasing as against 2015.
It's
shareholders funds amount to Eur. 390.298 with a -31,99% fall.
Total
indebtedness was equal to Eur. 4.326.319 (Eur. 1.215.229 was the value of m/l
term debts) , a more or less stable value.
Liquidity
is good.
2016
financial year closed with a cash flow of Eur. 185.096
Labour
cost amounts to Eur. 811.257, with a 10,94% incidence on production costs. and
a 10,91% incidence on sales volumes.
If
compared to the sales volume (-0,63%), 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 |
7.437.198 |
|
Profit
(Loss) for the period |
38.789 |
|
Complete
balance-sheet for the year |
al
31/12/2015 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
6.783.427 |
|
Profit
(Loss) for the period |
10.499 |
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
6.998.963 |
|
Profit
(Loss) for the period |
19.527 |
|
Complete
balance-sheet for the year |
al
31/12/2013 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
6.663.999 |
|
Profit
(Loss) for the period |
27.731 |
|
Complete
balance-sheet for the year |
al
31/12/2012 |
(in Eur |
x 1) |
|
Item
Type |
Value |
|
Sales |
6.109.547 |
|
Profit
(Loss) for the period |
20.142 |
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 |
0,15 |
0,24 |
0,25 |
0,25 |
|
Elasticity
Ratio |
Units |
0,84 |
0,76 |
0,73 |
0,72 |
|
Availability
of stock |
Units |
0,32 |
0,24 |
0,24 |
0,20 |
|
Total
Liquidity Ratio |
Units |
0,53 |
0,52 |
0,49 |
0,45 |
|
Quick
Ratio |
Units |
0,03 |
0,02 |
0,03 |
0,02 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
7,70 |
5,89 |
6,37 |
2,92 |
|
Self
Financing Ratio |
Units |
0,08 |
0,12 |
0,12 |
0,19 |
|
Capital
protection Ratio |
Units |
0,87 |
0,96 |
0,95 |
0,71 |
|
Liabilities
consolidation quotient |
Units |
0,43 |
0,23 |
0,08 |
0,22 |
|
Financing |
Units |
11,08 |
7,27 |
6,98 |
3,80 |
|
Permanent
Indebtedness Ratio |
Units |
0,35 |
0,28 |
0,19 |
0,38 |
|
M/L term
Debts Ratio |
Units |
0,27 |
0,17 |
0,06 |
0,12 |
|
Net
Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,97 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
2,35 |
1,21 |
0,74 |
1,26 |
|
Current
ratio |
Units |
1,33 |
1,08 |
0,90 |
1,13 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,83 |
0,73 |
0,61 |
0,75 |
|
Structure's
primary quotient |
Units |
0,53 |
0,50 |
0,49 |
0,76 |
|
Treasury's
primary quotient |
Units |
0,04 |
0,03 |
0,04 |
0,04 |
|
Rate of
indebtedness ( Leverage ) |
% |
1250,65 |
847,76 |
817,64 |
515,14 |
|
Current
Capital ( net ) |
Value |
1.011.832 |
260.624 |
-357.423 |
177.926 |
|
RETURN |
|||||
|
Return
on Sales |
% |
2,49 |
4,35 |
3,95 |
2,74 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
9,94 |
1,83 |
3,47 |
1,67 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
-1,84 |
10,55 |
8,61 |
8,36 |
|
Return
on Investment ( R.O.I. ) |
% |
0,81 |
2,48 |
2,78 |
3,41 |
|
Return/
Sales |
% |
0,53 |
1,78 |
1,83 |
3,12 |
|
Extra
Management revenues/charges incid. |
% |
98,08 |
8,69 |
15,25 |
15,78 |
|
Cash
Flow |
Value |
185.096 |
294.953 |
276.675 |
76.501 |
|
Operating
Profit |
Value |
39.548 |
120.754 |
128.021 |
88.970 |
|
Gross
Operating Margin |
Value |
185.855 |
405.208 |
385.169 |
173.361 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
n.c. |
n.c. |
n.c. |
100,31 |
|
Debts
to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
115,26 |
|
Average
stock waiting period |
Days |
74,88 |
62,93 |
56,21 |
67,16 |
|
Rate of
capital employed return ( Turnover ) |
Units |
1,52 |
1,39 |
1,52 |
1,08 |
|
Rate of
stock return |
Units |
4,81 |
5,72 |
6,40 |
5,32 |
|
Labour
cost incidence |
% |
10,91 |
12,33 |
9,12 |
17,27 |
|
Net
financial revenues/ charges incidence |
% |
-0,63 |
-0,89 |
-1,14 |
-1,88 |
|
Labour cost
on purchasing expenses |
% |
10,94 |
12,46 |
9,15 |
16,89 |
|
Short-term
financing charges |
% |
1,15 |
1,47 |
2,10 |
3,16 |
|
Capital
on hand |
% |
65,63 |
71,73 |
65,82 |
92,21 |
|
Sales
pro employee |
Value |
297.487 |
260.901 |
368.366 |
183.224 |
|
Labour
cost pro employee |
Value |
32.450 |
32.159 |
33.589 |
32.179 |
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 |
: |
296.063 |
|
Population
living in the region |
: |
1.299.272 |
|
Number
of families in the region |
: |
479.313 |
Monthly
family expences average in the region (in Eur..) :
|
- per food
products |
: |
448 |
|
- per
non food products |
: |
1.525 |
|
- per
energy consume |
: |
106 |
Statistical Detrimental Data
Statistically
the trade activity passes through serious crises.
The area
is statistically considered remarkably risky.
In the region
11.587 protested subjects are found; in the province they count to 3.368.
The
insolvency index for the region is 0,90, , while for the province it is 1,15.
Total
Bankrupt companies in the province : 1.327.
Total
Bankrupt companies in the region : 5.123.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.08 |
|
|
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
|
Euro |
1 |
INR 79.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.