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MIRA INFORM REPORT
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Report No. : |
490633 |
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Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
NEW GEM S.P.A. |
|
|
|
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Registered Office : |
Via Filippo Turati, 41 20082-
Binasco (MI)-IT- |
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Country : |
Italy |
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|
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
05.02.1990 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Subject engaged in
Wholesale of clocks, watches and jewellery |
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No. of Employees : |
6 to 10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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
New Gem S.p.a.
Via Filippo Turati, 41
20082-
Binasco (MI)-IT-
Summary
|
Fiscal Code |
: |
01440770061 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
05/02/1990 |
|
Equity |
: |
2.500.000 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
From 6 to 10 |
Activity
Wholesale of clocks, watches and jewellery
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 01440770061 |
|
Chamber of Commerce no. : 161983 of Alessandria since 22/05/1990 |
|
Chamber of Commerce no. : 1708426 of Milano since 11/03/2003 |
|
Firms' Register : AL003-12974 of Alessandria since 19/02/1996 |
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Firms' Register : MI-2003-63380 of Milano since 11/03/2003 |
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V.A.T. Code : 01440770061 |
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Establishment date |
: 05/02/1990 |
|
|
Start of Activities |
: 05/02/1990 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.800.000 |
|
|
Subscribed Capital |
: 1.800.000 |
|
|
Paid up Capital |
: 1.800.000 |
|
Legal mail : |
NEWGEMSPA@PEC.IT |
Members
|
|
Wogerbauer |
Johann |
|
|
Born in Milano |
(MI) |
on 21/09/1961 |
- Fiscal Code : WGRJNN61P21F205S |
|
|
Residence: |
Campania |
, 31 |
- 20133 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
18/05/2016 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Luca Gems S.a. |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
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.
|
|
Wogerbauer |
Johann |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Valgem S.a.s. Di Avraham Shaul E C. |
Valenza (AL) - IT - |
01258400066 |
Limited Partner |
Withdrawn |
Ceased |
|
Wogerbauer Johann |
Milano (MI) - IT - |
WGRJNN61P21F205S |
Proprietor |
Withdrawn |
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 |
|
Wogerbauer Johann |
Milano - IT - |
WGRJNN61P21F205S |
900.000 .Eur |
50,00 |
|
DELPINO SIMONE ALESSANDRO |
DLPSNL83S27F205Q |
275.000 .Eur |
15,27 |
|
|
Luca Gems S.a. |
625.000 .Eur |
34,72 |
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 |
|
Fin.or.val. - Societa' Finanziaria Immob Iliare Per Il Centro
Commerciale Orafo V |
Valenza - IT - |
00925330060 |
8.372 .Eur |
0,28 |
Active |
||
|
I Preziosi Del Delfino Societa' A Respon Sabilita' Limitata |
Roma - IT - |
06200771001 |
2.040 .Eur |
20,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
|
Filippo Turati |
, 41 |
- 20082 |
- Binasco |
(MI) |
- IT - |
|
Legal mail |
: NEWGEMSPA@PEC.IT |
|
- |
Branch |
(Branch) |
since 18/02/2003 |
|
Gramsci |
, 12G |
- 15048 |
- Valenza |
(AL) |
- IT - |
|
PHONE |
: 0131945885 |
|
FAX |
: 0131947885 |
|
Employees |
: 7 |
|
Fittings and Equipment for a value of 5.000 |
Eur |
|
Stocks for a value of 2.510.000 |
Eur |
The firm has a direct commercial organization
The firm operates abroad as importer..
To purchase foreign products the firm uses the following channels
:
|
- direct orders to foreign companies |
Export represents up to 20% of the global turnover.
Import comes generally from the following nations:
|
- France |
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.
Bankers
The firm operates with:
|
Bank Name |
Agency Name |
Address |
ZIP Code |
City |
ABI Code |
CAB Code |
|
UNICREDIT BANCA SPA |
VALENZA |
VIALE DANTE 13 |
15048 |
Valenza (AL) |
2008 |
48680 |
National
Real Estates Survey
The firm under review, by the reported percentages, owns the
following real estates:
|
Town |
Cadastre |
No. Immovables |
Up to Date |
|
VALENZA (AL) |
Buildings |
2 |
26/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
VALENZA (AL) VIALE PADOVA, 3 Piano S1 |
VAL/25 |
516 |
23 |
cat. C/3 |
4 |
80 mq |
Euro:243,77 |
|
|
B |
Proprieta' per 1/1 |
VALENZA (AL) PIAZZA A. GRAMSCI, 12/G Piano S1-3 - 5 |
VAL/34 |
614 |
87 |
cat. A/10 |
4 |
4,5 vani |
Euro:1.336,33 |
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 1990
The eonomic-financial analysis is
based on the latest 3 b/s.
During the last years, it
achieved profits (r.o.e. 11,96% on 2016)
The operating result was positive
in the last financial year (6,56%) falling within the field's average.
The amount of the operating
result is equal to Eur. 567.582 recording a drop as opposed to the year before
(-56,92%).
A gross operating margine for a
value of Eur. 615.665 was reached. with a -55,56% fall.
The financial status of the company
is fairly balanced with an indebtedness level of 1,64 with an improving trend
as on the decrease.
The management generated equity
capital for an amount of Eur. 2.475.439 on the same levels as the year before.
Total indebtedness was equal to
Eur. 6.005.765 (Eur. 1.086.916 was the value of m/l term debts) with no
important change.
Financial debts exposure is under
control while the recourse to commercial credit is rather frequent but lined up
with the field's average.
It shows a good range of liquidity.
Accounts receivable average term
is high (130,55 days). within the standard level of the average of the sector.
Eur. 344.123 is the value of cash
flow during the year 2016
Labour cost amounts to Eur.
369.581, with a 3,09% incidence on production costs. , whereas the incidence of
such costs on sales revenues is equal to 2,95%.
The financial management is
marked by a high incidence of financial charges in relation to sales revenues
(-1,54%).
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.528.119 |
|
Profit (Loss) for the period |
296.040 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
13.739.755 |
|
Profit (Loss) for the period |
493.707 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
12.682.390 |
|
Profit (Loss) for the period |
215.067 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
11.718.901 |
|
Profit (Loss) for the period |
273.908 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.661.060 |
|
Profit (Loss) for the period |
-351.548 |
Financials
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 |
0,04 |
0,03 |
0,04 |
0,09 |
|
Elasticity Ratio |
Units |
0,96 |
0,97 |
0,96 |
0,89 |
|
Availability of stock |
Units |
0,29 |
0,24 |
0,07 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,67 |
0,72 |
0,89 |
0,54 |
|
Quick Ratio |
Units |
0,10 |
0,07 |
0,11 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,64 |
2,19 |
2,36 |
3,95 |
|
Self Financing Ratio |
Units |
0,29 |
0,26 |
0,25 |
0,17 |
|
Capital protection Ratio |
Units |
0,15 |
0,06 |
0,02 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,26 |
0,13 |
0,08 |
0,10 |
|
Financing |
Units |
2,43 |
2,69 |
2,97 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,43 |
0,35 |
0,30 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,14 |
0,08 |
0,06 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
0,55 |
0,49 |
0,09 |
1,04 |
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CORRELATION |
|||||
|
Fixed assets ratio |
Units |
11,79 |
11,54 |
8,06 |
2,37 |
|
Current ratio |
Units |
1,69 |
1,49 |
1,38 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,18 |
1,12 |
1,28 |
0,80 |
|
Structure's primary quotient |
Units |
7,82 |
8,82 |
6,57 |
1,48 |
|
Treasury's primary quotient |
Units |
0,18 |
0,10 |
0,16 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
349,67 |
377,78 |
403,79 |
602,26 |
|
Current Capital ( net ) |
Value |
3.385.954 |
2.939.343 |
2.192.166 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
2,75 |
4,09 |
2,28 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
11,96 |
20,26 |
10,43 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
15,14 |
33,10 |
16,64 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
6,56 |
14,32 |
11,37 |
4,18 |
|
Return/ Sales |
% |
4,53 |
9,59 |
7,47 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
52,16 |
37,47 |
22,71 |
27,96 |
|
Cash Flow |
Value |
344.123 |
561.553 |
289.364 |
44.823 |
|
Operating Profit |
Value |
567.582 |
1.317.672 |
946.813 |
74.603 |
|
Gross Operating Margin |
Value |
615.665 |
1.385.518 |
1.021.110 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
130,55 |
148,94 |
174,88 |
113,70 |
|
Debts to suppliers average term |
Days |
98,40 |
113,66 |
143,83 |
118,14 |
|
Average stock waiting period |
Days |
72,02 |
58,91 |
16,24 |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,45 |
1,49 |
1,52 |
1,25 |
|
Rate of stock return |
Units |
5,00 |
6,11 |
22,17 |
4,88 |
|
Labour cost incidence |
% |
2,95 |
2,44 |
2,37 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-1,54 |
-3,65 |
-4,76 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
3,09 |
2,69 |
2,55 |
8,25 |
|
Short-term financing charges |
% |
3,21 |
7,66 |
9,85 |
2,76 |
|
Capital on hand |
% |
69,09 |
66,99 |
65,68 |
79,85 |
|
Sales pro employee |
Value |
1.138.919 |
1.373.975 |
1.409.154 |
397.742 |
|
Labour cost pro employee |
Value |
33.598 |
33.481 |
33.408 |
33.267 |
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 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
Statistcally the trade activity shows periods of crisis.
The area is statistically considered lowly risky.
In the region 50.886 protested subjects are found; in the province
they count to 24.765.
The insolvency index for the region is 0,55, , while for the
province it is 0,66.
Total Bankrupt companies in the province : 22.523.
Total Bankrupt companies in the region : 39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
|
Euro |
1 |
INR 79.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
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.