|
|
|
MIRA INFORM REPORT
|
Report No. : |
485970 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
PREO S.R.L |
|
|
|
|
Registered Office : |
Via Volta, , 20094- Corsico(MI)-IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
26.03.1996 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
Manufacture of other special-purpose machinery n.e.c.
(including spare parts and accessories) |
|
|
|
|
No. of Employees : |
36 to 50 |
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 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
Preo S.r.l.
Via Volta, 7
20094 - Corsico (MI) -IT-
Summary
|
Fiscal Code |
: |
11803740155 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
15/07/1996 |
|
Equity |
: |
2.000.000 |
|
Turnover Range |
: |
5.000.000/6.500.000 |
|
Number of Employees |
: |
from 36 to 50 |
Activity
Manufacture of other special-purpose machinery n.e.c.
(including spare parts and accessories)
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 11803740155 |
|
Foreign Trade Reg. no. : 294336 of Milano since 03/09/1999 |
|
Chamber of Commerce no. : 1498240 of Milano since
09/05/1996 |
|
Firms' Register : MI-1996-31228 of Milano since 10/05/1996 |
|
V.A.T. Code : 11803740155 |
|
Foundation date |
: 26/03/1996 |
|
|
Establishment date |
: 26/03/1996 |
|
|
Start of Activities |
: 15/07/1996 |
|
|
Legal duration |
: 31/12/2020 |
|
|
Nominal Capital |
: 99.000 |
|
|
Subscribed Capital |
: 99.000 |
|
|
Paid up Capital |
: 99.000 |
|
Legal mail : |
PREO@LEGALMAIL.IT |
Members
|
|
Preo |
Alberto |
|
|
Born in Milano |
(MI) |
on 23/06/1947 |
- Fiscal Code : PRELRT47H23F205C |
|
|
Residence: |
Capo Palinuro |
, 2 |
- 20142 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
26/03/1996 |
||
|
Managing Director |
09/12/1998 |
||
|
Board Chairman |
30/06/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Preo |
Ermanno Tiziano |
|
|
Born in Milano |
(MI) |
on 10/10/1945 |
- Fiscal Code : PRERNN45R10F205W |
|
|
Residence: |
Isonzo |
, 6 |
- 20090 |
Cesano Boscone |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
26/03/1996 |
||
|
Managing Director |
09/12/1998 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Preo |
Ermanno |
|
|
Born in Milano |
(MI) |
on 24/04/1971 |
- Fiscal Code : PRERNN71D24F205I |
|
|
Residence: |
Malakoff |
, 16 |
- 20094 |
Corsico |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Attorney General |
01/02/1999 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Preo |
Giorgio Francesco |
|
|
Born in Milano |
(MI) |
on 03/03/1941 |
- Fiscal Code : PREGGF41C03F205W |
|
|
Residence: |
Molakoff |
, 16 |
- 20094 |
Corsico |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Managing Director |
09/12/1998 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Preo International Holding S.r.l. |
|
|
: |
Manfredo Camperio |
, 14 |
- 20123 |
Milano |
(MI) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole partner |
19/06/2015 |
|
|
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.
|
|
Preo |
Ermanno Tiziano |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Preo International Holding S.r.l. |
Milano (MI) - IT - |
09035710962 |
Director |
Active |
Registered |
|
Preo International Holding S.r.l. |
Milano (MI) - IT - |
09035710962 |
Assistant
board Chairman |
Active |
Registered |
|
|
Preo |
Giorgio Francesco |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Preo International Holding S.r.l. |
Milano (MI) - IT - |
09035710962 |
Director |
Active |
Registered |
|
Preo International Holding S.r.l. |
Milano (MI) - IT - |
09035710962 |
Board
Chairman |
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 |
|
Preo International Holding S.r.l. |
Milano - IT - |
09035710962 |
99.000
.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 |
|
Volta |
, 7 |
- 20094 |
- Corsico |
(MI) |
- IT - |
|
PHONE |
: 0248601260 |
|
Legal mail |
: PREO@LEGALMAIL.IT |
|
Employees |
: 43 |
|
Fittings and Equipment for a value of 240.000 |
Eur |
|
Stocks for a value of 1.240.000 |
Eur |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of merging by taking over of |
|
|
|
|
, Corsico - Via Volta, 7 |
(MI) |
- IT - |
|
|
Fiscal Code: 03939770156 |
|
|
Date |
Merging/splitting-up project: |
06/06/2006 |
|
|
The firm absorbed by merging of |
|
|
|
|
, Corsico - Via Volta, 7 |
(MI) |
- IT - |
|
|
Fiscal Code: 03939770156 |
|
|
Date |
: |
27/09/2006 |
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 |
|
CORSICO (MI) |
Buildings |
2 |
11/01/2018 |
|
Buildings
Details |
|
Cadastre |
Title |
Location |
Sheet
No. |
Particle
No. |
Sub
No. |
Categorie |
Classe |
Consistence |
Cadastrial
Rent |
Part
No. |
|
B |
Proprieta' per 1/1 |
CORSICO (MI) VIA ALESSANDRO VOLTA, 7 Piano T-S1 |
2 |
136 |
701 |
cat.
D/7 |
Euro:
12.100,00 |
|||
|
B |
Proprieta' per 1/1 |
CORSICO (MI) VIA LEONARDO DA VINCI, 25 Piano T |
3 |
130 |
cat.
D/7 |
Euro:
2.303,40 |
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 1996.
Balance sheets for the years 2014, 2015 and 2016 were
analyzed.
During the last years, it achieved profits (r.o.e. 14,58% on
2016) with a remarkable upward trend (+8,43% on 2016 compared to 2015 and
+12,04% on 2015 compared to 2014).
The operating result in 2016 was positive (9,96%) falling
within the field's average.
The amount of the operating result is equal to Eur. 417.631
showing an upward trend 21,78% compared to the previous financial year.
A gross operating margine for a value of Eur. 529.232 was
reached. stable if compared to the financial year 2015.
The analysis shows a fair financial position as the
indebtedness volume is acceptable (1,1) and decreasing as against 2015.
Subject can manage an equity capital funds for an amount of
Eur. 1.541.017 , unchanged as opposed to the preceding year.
During the last financial year debts totalled Eur. 1.980.321
(Eur. 208.364 of which were m/l term debts) , with no sensible variation.
Available funds are good.
The financial management generated a cash flow of Eur.
336.353.
In the last financial year labour cost was of Eur.
1.401.927, with a 28,56% incidence on total costs of production. , whereas the
incidence of such costs on sales revenues is equal to 26,21%.
Financial charges have a limited incidence (-1,06%) on sales
volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
5.349.338 |
|
Profit (Loss) for the period |
224.752 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.933.298 |
|
Profit (Loss) for the period |
144.119 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.402.995 |
|
Profit (Loss) for the period |
44.458 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.246.806 |
|
Profit (Loss) for the period |
37.543 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
3.810.211 |
|
Profit (Loss) for the period |
91.119 |
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 |
0,36 |
0,35 |
0,34 |
0,18 |
|
Elasticity Ratio |
Units |
0,64 |
0,64 |
0,65 |
0,80 |
|
Availability of stock |
Units |
0,30 |
0,33 |
0,27 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,34 |
0,32 |
0,38 |
0,48 |
|
Quick Ratio |
Units |
0,02 |
0,01 |
0,04 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,10 |
1,22 |
1,91 |
3,25 |
|
Self Financing Ratio |
Units |
0,37 |
0,34 |
0,27 |
0,19 |
|
Capital protection Ratio |
Units |
0,79 |
0,83 |
0,89 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,50 |
0,55 |
0,27 |
0,19 |
|
Financing |
Units |
1,29 |
1,41 |
2,11 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,58 |
0,58 |
0,43 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,21 |
0,23 |
0,16 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,61 |
1,63 |
1,25 |
1,75 |
|
Current ratio |
Units |
1,50 |
1,51 |
1,14 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,80 |
0,74 |
0,67 |
0,81 |
|
Structure's primary quotient |
Units |
1,02 |
0,97 |
0,80 |
1,03 |
|
Treasury's primary quotient |
Units |
0,05 |
0,01 |
0,08 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
272,17 |
290,95 |
363,85 |
516,42 |
|
Current Capital ( net ) |
Value |
892.950 |
920.448 |
372.739 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
6,29 |
6,99 |
4,79 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
14,58 |
9,90 |
3,39 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
23,42 |
17,83 |
12,53 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
9,96 |
8,09 |
5,10 |
4,16 |
|
Return/ Sales |
% |
7,81 |
6,95 |
5,53 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
53,82 |
42,03 |
18,28 |
28,57 |
|
Cash Flow |
Value |
336.353 |
344.623 |
210.843 |
122.482 |
|
Operating Profit |
Value |
417.631 |
342.923 |
243.269 |
144.752 |
|
Gross Operating Margin |
Value |
529.232 |
543.427 |
409.654 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
111,85 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
128,30 |
|
Average stock waiting period |
Days |
83,62 |
100,79 |
103,49 |
80,43 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,28 |
1,16 |
0,92 |
1,08 |
|
Rate of stock return |
Units |
4,31 |
3,57 |
3,48 |
4,45 |
|
Labour cost incidence |
% |
26,21 |
27,59 |
30,67 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-1,06 |
-1,71 |
-1,95 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
28,56 |
28,88 |
32,11 |
19,02 |
|
Short-term financing charges |
% |
2,86 |
4,11 |
3,09 |
2,68 |
|
Capital on hand |
% |
78,41 |
85,89 |
108,43 |
91,91 |
|
Sales pro employee |
Value |
124.403 |
117.459 |
104.833 |
198.432 |
|
Labour cost pro employee |
Value |
32.602 |
32.406 |
32.150 |
35.779 |
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 1.206 significant
companies.
The companies cash their credits on an average of 112 dd.
The average duration of suppliers debts is about 128 dd.
The sector's profitability is on an average of 3,35%.
The labour cost affects the turnover in the measure of
19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and the resources
used to realize it is about 1,08.
The employees costs represent the 19,02% 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 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
Euro |
1 |
INR 77.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
KET |
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.