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|
MIRA INFORM REPORT
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Report No. : |
485050 |
|
Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALEX E CO. S.R.L. |
|
|
|
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Registered Office : |
Via Ponte Di Bagnolo, 2/4/6, 50059 - Vinci (FI) |
|
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Country : |
Italy |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
02.04.2012 |
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|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Manufacture of Leather Clothes |
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|
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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 : |
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 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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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 133% of GDP in 2016. 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 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 0.7% each year. In
2016, overall unemployment was 11.7%, but youth unemployment remains high at
37.1%.
|
Source
: CIA |
Company
name & address
ALEX E CO. S.R.L.
Via Ponte Di Bagnolo, 2/4/6
50059 - Vinci (FI) -IT-
Summary
|
Fiscal Code |
: |
06252450488 |
|
Legal Form |
: |
Limited Liability Company |
|
start of Activities |
: |
02/04/2012 |
|
Equity |
: |
2.500.000 |
|
Turnover Range |
: |
15.500.000/18.000.000 |
|
Number of Employees |
: |
From 16 To 25 |
Activity
Manufacture of leather clothes
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 06252450488 |
|
Chamber of Commerce no. : 613022 of Firenze since 20/04/2012 |
|
V.A.T. Code : 06252450488 |
|
Establishment date |
: 02/04/2012 |
|
|
Start of Activities |
: 02/04/2012 |
|
|
Legal duration |
: 31/12/2040 |
|
|
Nominal Capital |
: 100.000 |
|
|
Subscribed Capital |
: 100.000 |
|
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Paid up Capital |
: 100.000 |
|
Legal mail : |
ALEXECO@PEC.LEONET.IT |
Members
|
|
Tesi |
Antonio |
|
|
Born in Vinci |
(FI) |
on 14/04/1952 |
- Fiscal Code : TSENTN52D14M059W |
|
|
Residence: |
Lombardia |
, 12/E |
- 50059 |
Vinci |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/05/2013 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Mancioli |
Carlo |
|
|
Born in Vinci |
(FI) |
on 24/06/1966 |
- Fiscal Code : MNCCRL66H24M059P |
|
|
Residence: |
P. Togliatti |
, 130 |
- 50059 |
Vinci |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
02/05/2013 |
|
|
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.
|
|
Tesi |
Antonio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Ellebi S.p.a. |
Fucecchio (FI) - IT - |
00658680483 |
Sole Director |
Withdrawn |
Ceased |
|
Alex E Co. S.r.l. |
Vinci (FI) - IT - |
05671340486 |
Director |
Withdrawn |
Registered |
|
|
Mancioli |
Carlo |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Alex E Co. S.r.l. |
Vinci (FI) - IT - |
05671340486 |
Director |
Withdrawn |
Registered |
|
Immobiliare Sarc Di Mancioli Carlo E C.S.a.s. |
Cerreto Guidi (FI) - IT - |
03660810486 |
General Partner |
Active |
Registered |
|
Immobiliare Sarc Di Mancioli Carlo E C.S.a.s. |
Cerreto Guidi (FI) - IT - |
03660810486 |
Limited Partner |
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 |
|
Tesi Antonio |
Vinci - IT - |
TSENTN52D14M059W |
33.000 .Eur |
33,00 |
|
Mancioli Carlo |
Vinci - IT - |
MNCCRL66H24M059P |
67.000 .Eur |
67,00 |
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 |
|
Ponte Di Bagnolo |
, 2/4/6 |
- 50059 |
- Vinci |
(FI) |
- IT - |
|
Legal mail |
: ALEXECO@PEC.LEONET.IT |
|
Employees |
: 24 |
|
Fittings and Equipment for a value of 66.000 |
Eur |
|
Stocks for a value of 530.000 |
Eur |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
|
|
|
Ponte Di Bagnolo |
, 50059 |
, Vinci |
(FI) |
- IT - |
|
|
Fiscal Code: 05671340486 |
|
|
Date |
Merging/splitting-up project: |
08/06/2015 |
|
|
The firm absorbed by merging of |
|
|
|
|
Ponte Di Bagnolo |
, 50059 |
, Vinci |
(FI) |
- IT - |
|
|
Fiscal Code: 05671340486 |
|
|
Date |
: |
21/09/2015 |
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
Company's starting of activities dates back to 2012.
The analysis is based on the latest 3 balance sheets.
During the last years, it achieved profits (r.o.e. 66,1% on 2016) with a
remarkable upward trend (+68,03% on 2016 compared to 2015 and +43,9% on 2015
compared to 2014).
The operating result in 2016 was positive (24,38%) and even better than
sector's average.
An operating result of Eur. 1.990.544 has been registered. increasing if
compared to the yeart 2015.
The G.O.M. amounted to Eur. 2.484.412 with a more then 100% increase as
opposed to the preceding year.
The analysis shows a fair financial position as the indebtedness volume
is acceptable (2,13) and falling as against the previous year (4,99).
Subject can manage an equity capital funds for an amount of Eur.
2.018.807 , rising by 128,28%.
During the last financial year total debts volume reached Eur. 5.763.014
(Eur. 19.262 were m/l term ones) showing a stable trend as opposed to 2015
(Eur. 5.254.098).
Bank and suppliers credit recourse is limited, 65,3 gg. is payment
average period below the sector's average.
The management determines a good range of liquidity.
Trade credits are collected slowly, average term is 104,69 days. but in
line with the sector.
2016 financial year closed with a cash flow of Eur. 1.578.319
Subordinate employment cost is of Eur. 782.292, i.e. 5,16% on total
production costs. , whereas the incidence of such costs on sales revenues is
equal to 4,61%.
The financial management has a limited economic impact, equal to -0,08%
on the sales.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
16.969.701 |
|
Profit (Loss) for the period |
1.334.451 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.099.171 |
|
Profit (Loss) for the period |
440.422 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.018.042 |
|
Profit (Loss) for the period |
60.222 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
7.284.623 |
|
Profit (Loss) for the period |
60.135 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
437.293 |
|
Profit (Loss) for the period |
28.344 |
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 |
0,02 |
0,03 |
0,06 |
0,14 |
|
Elasticity Ratio |
Units |
0,93 |
0,90 |
0,94 |
0,84 |
|
Availability of stock |
Units |
0,06 |
0,08 |
0,12 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,86 |
0,82 |
0,81 |
0,53 |
|
Quick Ratio |
Units |
0,18 |
0,12 |
0,01 |
0,03 |
|
COMPOSITION ON
SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
2,13 |
4,99 |
16,96 |
3,78 |
|
Self Financing Ratio |
Units |
0,25 |
0,14 |
0,05 |
0,17 |
|
Capital protection Ratio |
Units |
0,29 |
0,39 |
0,56 |
0,66 |
|
Liabilities consolidation quotient |
Units |
0,03 |
0,04 |
0,00 |
0,14 |
|
Financing |
Units |
2,85 |
5,94 |
17,23 |
4,55 |
|
Permanent Indebtedness Ratio |
Units |
0,27 |
0,17 |
0,06 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,03 |
0,00 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,07 |
n.c. |
n.c. |
1,26 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
12,29 |
5,33 |
0,86 |
1,87 |
|
Current ratio |
Units |
1,32 |
1,09 |
0,99 |
1,17 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,23 |
0,99 |
0,86 |
0,79 |
|
Structure's primary quotient |
Units |
11,43 |
4,35 |
0,84 |
1,13 |
|
Treasury's primary quotient |
Units |
0,26 |
0,15 |
0,02 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
404,44 |
706,65 |
1829,49 |
587,75 |
|
Current Capital ( net ) |
Value |
1.845.962 |
465.786 |
-20.344 |
209.248 |
|
RETURN |
|||||
|
Return on Sales |
% |
9,30 |
4,86 |
1,02 |
2,26 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
66,10 |
49,80 |
37,95 |
3,48 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
97,93 |
77,00 |
63,18 |
12,19 |
|
Return on Investment ( R.O.I. ) |
% |
24,38 |
11,00 |
4,81 |
3,83 |
|
Return/ Sales |
% |
11,73 |
6,81 |
1,99 |
3,45 |
|
Extra Management revenues/charges incid. |
% |
67,04 |
64,05 |
43,12 |
20,46 |
|
Cash Flow |
Value |
1.578.319 |
490.714 |
71.695 |
50.400 |
|
Operating Profit |
Value |
1.990.544 |
687.658 |
139.677 |
68.610 |
|
Gross Operating Margin |
Value |
2.484.412 |
737.950 |
151.150 |
124.742 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
104,69 |
n.c. |
n.c. |
120,68 |
|
Debts to suppliers average term |
Days |
65,30 |
n.c. |
n.c. |
115,81 |
|
Average stock waiting period |
Days |
11,24 |
18,37 |
18,05 |
78,40 |
|
Rate of capital employed return ( Turnover ) |
Units |
2,08 |
1,62 |
2,42 |
1,14 |
|
Rate of stock return |
Units |
32,02 |
19,60 |
19,94 |
4,57 |
|
Labour cost incidence |
% |
4,61 |
7,12 |
1,48 |
12,27 |
|
Net financial revenues/ charges incidence |
% |
-0,08 |
-0,26 |
-0,53 |
-1,84 |
|
Labour cost on purchasing expenses |
% |
5,16 |
7,53 |
1,49 |
12,16 |
|
Short-term financing charges |
% |
0,26 |
0,56 |
1,46 |
3,35 |
|
Capital on hand |
% |
48,11 |
61,88 |
41,37 |
87,41 |
|
Sales pro employee |
Value |
707.070 |
459.053 |
2.339.347 |
245.343 |
|
Labour cost pro employee |
Value |
32.595 |
32.676 |
34.595 |
32.046 |
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 864 significant companies.
The companies cash their credits on an average of 121 dd.
The average duration of suppliers debts is about 116 dd.
The sector's profitability is on an average of 2,26%.
The labour cost affects the turnover in the measure of 12,27%.
Goods are held in stock in a range of 78 dd.
The difference between the sales volume and the resources used to
realize it is about 1,14.
The employees costs represent the 12,16% 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 5.242.
The insolvency index for the region is 0,70, , while for the province it
is 0,55.
Total Bankrupt companies in the province : 6.520.
Total Bankrupt companies in the region : 20.423.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.47 |
|
|
1 |
INR 86.15 |
|
Euro |
1 |
INR 75.92 |
|
Euro |
1 |
INR 76.06 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.