|
|
|
MIRA INFORM REPORT
|
Report No. : |
484559 |
|
Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
GERARDI S.P.A. |
|
|
|
|
Registered Office : |
Via Papa Giovanni Xxiii, 101 21015 -
Lonate Pozzolo (VA) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
25.05.1988 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
Manufacture of metal forming machinery and tool machines |
|
|
|
|
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 : |
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 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 and address
Gerardi S.p.a.
Via Papa Giovanni Xxiii, 101
21015 - Lonate Pozzolo (VA) -IT-
Summary
|
Fiscal Code |
: |
01773740129 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
01/10/1989 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Manufacture of metal forming machinery and tool machines
Legal
Data
Legal Form : Joint stock company with sole shareholder
|
Fiscal Code : 01773740129 |
|
Foreign Trade Reg. no. : 15860 of Varese since 08/01/1992 |
|
Foreign Trade Reg. no. : 015860 of Varese since 08/01/1992 |
|
Chamber of Commerce no. : 1518514 of Milano |
|
Chamber of Commerce no. : 206442 of Varese since 12/07/1988 |
|
Firms' Register : VA026-21552 of Varese since 19/02/1996 |
|
V.A.T. Code : 01773740129 |
|
Tribunal Co. Register : 21552 of since 07/07/1988 |
|
Foundation date |
: 25/05/1988 |
|
|
Establishment date |
: 25/05/1988 |
|
|
Start of Activities |
: 01/10/1989 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 1.000.000 |
|
|
Subscribed Capital |
: 1.000.000 |
|
|
Paid up Capital |
: 1.000.000 |
|
Legal mail : |
GERARDI@CERTIMPRESE.IT |
Members
|
|
VISE MANUFACTURING S.R.L. |
|
|
: |
FRAZ. S. REPARATA |
- 64045 |
Isola del Gran Sasso d'Italia |
(TE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gerardi |
Ivano |
|
|
Born in Nettuno |
(RM) |
on 20/09/1934 |
- Fiscal Code : GRRVNI34P20F880J |
|
|
Residence: |
San Gervaso |
, 101 |
- 21017 |
Samarate |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
27/06/2017 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Gerardi |
Ivano |
|
|
Born in Toronto |
( ) |
on 01/11/1968 |
- Fiscal Code : GRRVNI68S01Z401C |
|
|
Residence: |
Pisacane |
, 22 |
- 21052 |
Busto Arsizio |
(VA) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Attorney with special power |
14/10/2011 |
|
|
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.
|
|
Gerardi |
Ivano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
"GERARDI S.R.L." -0153660 |
Samarate (VA) - IT - |
00303440127 |
Sole Director |
Withdrawn |
Merged |
|
"GERARDI S.R.L." -0153660 |
Samarate (VA) - IT - |
00303440127 |
Partner |
Withdrawn |
Merged |
|
Gerardi System S.r.l. - In Liquidazione |
Lonate Pozzolo (VA) - IT - |
01975470129 |
Liquidator |
- |
Bankrupt |
|
Jolly Immobiliare S.r.l. |
Lonate Pozzolo (VA) - IT - |
01593240128 |
Sole Director |
Active |
Registered |
|
Jolly Immobiliare S.r.l. |
Lonate Pozzolo (VA) - IT - |
01593240128 |
Partner |
Withdrawn |
Registered |
|
"IMMOBILIARE ATOLL DI GERARDI IVANO eamp; C.S.N.C." |
Olgiate Olona (VA) - IT - |
02005150129 |
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 |
|
VISE MANUFACTURING S.R.L. |
Isola del Gran Sasso d'Italia - IT - |
00758980676 |
100,00 |
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 |
|
C.i.m.u. S.r.l. |
Cinisello Balsamo - IT - |
02807920968 |
6.056 .Eur |
6,05 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Legal and operative seat |
since 01/10/1990 |
|
Papa Giovanni Xxiii |
, 101 |
- 21015 |
- Lonate Pozzolo |
(VA) |
- IT - |
|
Legal mail |
: GERARDI@CERTIMPRESE.IT |
|
- |
Branch |
(Store) |
since 29/11/2001 |
|
San Gervaso |
, 101 |
- 21017 |
- Samarate |
(VA) |
- IT - |
|
- |
Branch |
(Factory) |
since 01/03/2011 |
|
Delle Industrie |
, 1 |
- 21015 |
- Lonate Pozzolo |
(VA) |
- IT - |
|
Employees |
: 56 |
|
Fittings and Equipment for a value of 650.000 |
Eur |
|
Stocks for a value of 4.970.000 |
Eur |
The firm operates abroad as importer / exporter..
To purchase foreign products the firm uses the following channels
:
|
- direct orders to foreign companies |
Export represents from 20% to 50% of the global turnover.
Products abroad are placed by :
|
- importers |
Import comes generally from the following nations:
|
- Poland |
|
- Italy |
|
- Austria |
|
- Belgium |
|
- France |
|
- Great Britain |
|
- Greece |
|
- Ireland |
|
- Bulgaria |
Export is mainly towards:
|
- Poland |
|
- Italy |
|
- Austria |
|
- Belgium |
|
- France |
|
- Great Britain |
|
- Greece |
|
- Ireland |
|
- Bulgaria |
Historical
Information and/or Firm's Status
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement Date |
|
HI - TECH Sistem SpA |
Gerardi SpA |
01/10/1990 |
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm absorbed by merging of |
|
|
|
|
S.Gervaso |
, 101 |
, 21017 |
, Samarate |
(VA) |
- IT - |
|
|
Fiscal Code: 00303440127 |
|
|
Date |
: |
01/10/1990 |
|
|
The firm absorved |
|
|
|
|
S.Gervaso |
, 101 |
, 21017 |
, Samarate |
(VA) |
- IT - |
|
|
Fiscal Code: 00303440127 |
|
|
Date |
: |
01/10/1990 |
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 |
|
SAMARATE (VA) |
Buildings |
2 |
04/01/2018 |
|
SAMARATE (VA) |
Land |
2 |
04/01/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' per 1/1 |
SAMARATE (VA) VIA SAN GERVASO, 101 Piano T |
SA/14 |
2512 |
2 |
cat. D/1 |
Euro: 4.369,23 |
|||
|
B |
Proprieta' per 1/1 |
SAMARATE (VA) VIA SAN GERVASO, 101 Piano T-1 - S1 |
SA/14 |
2512 |
3 |
cat. A/3 |
3 |
7 vani |
Euro:397,67 |
|
Land Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Category |
Class |
Consistence |
Cadastrial Rent |
Part No. |
|
L |
Proprieta' per 1/1 |
SAMARATE (VA) |
1 |
2515 |
SEMINATIVO |
1 |
31 are 40 ca |
R.D.Euro:21,08 R.A. Euro: 19,46 |
6073 |
|
|
L |
Proprieta' per 1/1 |
SAMARATE (VA) |
1 |
2516 |
SEMIN ARBOR |
1 |
16 are 80 ca |
R.D.Euro:12,15 R.A. Euro: 11,28 |
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 1989.
The eonomic-financial analysis is based on the latest 3 b/s.
During the last years, it achieved profits (r.o.e. 11,23% on 2016)
but without a significant increase in the turnover.
The return on Investment in the last financial year was positive
(5,19%) falling within the field's average.
An operating result of Eur. 633.927 has been registered.
increasing if compared to the yeart 2015.
A gross operating margine for a value of Eur. 894.072 was reached.
showing a 39,59% growth.
The analysis shows a fair financial position as the indebtedness
volume is acceptable (1,41) but with an increase as against the previous
accounting period.
With regard to equity capital, an amount of Eur. 3.654.143 is
registered. , stable in comparison with the value of the previous year.
During the last financial year debts totalled Eur. 7.550.488 (Eur.
1.163.974 of which were m/l term debts) , rising as opposed to the previous
year (+22,81%).
The company does not exceed in bank credits; payments average
period is instead slightly high (142,01 gg.) however still within the sector's
average.
Liquidity is good (1,26)
On average trade credits are collected in 48,56 days. , a better
value than the sector's average.
During financial year 2016 the cash flow amounted to Eur. 670.333
Subordinate employment cost is of Eur. 2.265.734, i.e. 19,91% on
total production costs. , whereas 20,8% is the incidence on sales revenues.
Financial charges have a limited incidence (-0,31%) on sales
volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.894.400 |
|
Profit (Loss) for the period |
410.188 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.183.612 |
|
Profit (Loss) for the period |
295.231 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.409.459 |
|
Profit (Loss) for the period |
178.441 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.981.057 |
|
Profit (Loss) for the period |
57.198 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.393.944 |
|
Profit (Loss) for the period |
74.019 |
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
|
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 |
0,34 |
0,38 |
0,36 |
0,17 |
|
Elasticity Ratio |
Units |
0,66 |
0,62 |
0,63 |
0,80 |
|
Availability of stock |
Units |
0,41 |
0,39 |
0,39 |
0,27 |
|
Total Liquidity Ratio |
Units |
0,25 |
0,23 |
0,24 |
0,50 |
|
Quick Ratio |
Units |
0,10 |
0,07 |
0,07 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,41 |
1,24 |
1,30 |
3,14 |
|
Self Financing Ratio |
Units |
0,30 |
0,32 |
0,33 |
0,19 |
|
Capital protection Ratio |
Units |
0,61 |
0,61 |
0,63 |
0,68 |
|
Liabilities consolidation quotient |
Units |
0,29 |
0,39 |
0,31 |
0,18 |
|
Financing |
Units |
2,07 |
1,83 |
1,81 |
3,79 |
|
Permanent Indebtedness Ratio |
Units |
0,45 |
0,51 |
0,48 |
0,34 |
|
M/L term Debts Ratio |
Units |
0,15 |
0,18 |
0,15 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,63 |
0,72 |
0,75 |
0,77 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,34 |
1,34 |
1,34 |
1,75 |
|
Current ratio |
Units |
1,26 |
1,31 |
1,28 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,48 |
0,49 |
0,49 |
0,78 |
|
Structure's primary quotient |
Units |
0,89 |
0,85 |
0,91 |
1,04 |
|
Treasury's primary quotient |
Units |
0,19 |
0,14 |
0,14 |
0,05 |
|
Rate of indebtedness ( Leverage ) |
% |
334,51 |
307,96 |
303,27 |
518,96 |
|
Current Capital ( net ) |
Value |
1.677.608 |
1.527.689 |
1.325.871 |
406.983 |
|
RETURN |
|||||
|
Return on Sales |
% |
6,15 |
5,14 |
4,92 |
3,69 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
11,23 |
8,78 |
5,60 |
5,16 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
16,44 |
13,78 |
10,48 |
17,72 |
|
Return on Investment ( R.O.I. ) |
% |
5,19 |
3,98 |
5,29 |
3,94 |
|
Return/ Sales |
% |
5,82 |
4,05 |
6,08 |
4,48 |
|
Extra Management revenues/charges incid. |
% |
64,71 |
71,57 |
34,88 |
26,52 |
|
Cash Flow |
Value |
670.333 |
523.177 |
413.389 |
142.024 |
|
Operating Profit |
Value |
633.927 |
412.522 |
511.642 |
126.602 |
|
Gross Operating Margin |
Value |
894.072 |
640.468 |
746.590 |
241.461 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
48,56 |
52,00 |
64,31 |
116,01 |
|
Debts to suppliers average term |
Days |
142,01 |
125,84 |
139,35 |
127,79 |
|
Average stock waiting period |
Days |
164,24 |
141,38 |
162,05 |
96,89 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,89 |
0,98 |
0,87 |
1,03 |
|
Rate of stock return |
Units |
2,19 |
2,55 |
2,22 |
3,58 |
|
Labour cost incidence |
% |
20,80 |
20,31 |
21,23 |
21,20 |
|
Net financial revenues/ charges incidence |
% |
-0,31 |
0,55 |
-2,11 |
-1,00 |
|
Labour cost on purchasing expenses |
% |
19,91 |
20,44 |
22,21 |
20,95 |
|
Short-term financing charges |
% |
0,51 |
n.c. |
3,31 |
2,70 |
|
Capital on hand |
% |
112,20 |
101,73 |
115,00 |
96,90 |
|
Sales pro employee |
Value |
155.634 |
159.118 |
152.899 |
191.520 |
|
Labour cost pro employee |
Value |
32.367 |
32.309 |
32.453 |
39.641 |
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 45 significant companies.
The companies cash their credits on an average of 116 dd.
The average duration of suppliers debts is about 128 dd.
The sector's profitability is on an average of 3,69%.
The labour cost affects the turnover in the measure of 21,20%.
Goods are held in stock in a range of 97 dd.
The difference between the sales volume and the resources used to
realize it is about 1,03.
The employees costs represent the 20,95% of the production costs.
Statistical
Detrimental Data
Statistcally the trade activity shows periods of crisis.
The area is statistically considered moderately risky.
In the region 50.886 protested subjects are found; in the province
they count to 4.597.
The insolvency index for the region is 0,55, , while for the
province it is 0,55.
Total Bankrupt companies in the province : 3.052.
Total Bankrupt companies in the region : 39.612.
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 76.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TRU |
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.