|
|
|
MIRA INFORM REPORT
|
Report No. : |
487722 |
|
Report Date : |
24.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
GENKO S.R.L. |
|
|
|
|
Registered Office : |
Via Manzoni, 2, 63074
- San Benedetto del Tronto (AP) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
11.11.1991 |
|
|
|
|
Legal Form : |
Limited liability company |
|
|
|
|
Line of Business : |
·
Wholesale of shirts, underwear and
similars ·
Retail sale of clothing in specialised
stores |
|
|
|
|
No. of Employees : |
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. 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
Genko S.r.l.
Via Manzoni, 2,
63074 - San Benedetto del Tronto (AP) -IT-
Summary
|
Fiscal Code |
: |
00820790707 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
13/09/2010 |
|
Equity |
: |
2.500.000 |
|
Turnover Range |
: |
25.000.000/35.000.000 |
|
Number of Employees |
: |
from 16 to 25 |
Activity
Wholesale of shirts, underwear and similars
Retail sale of clothing in specialised stores
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 00820790707 |
|
Foreign Trade Reg. no. : AP018193 since 10/03/2000 |
|
Chamber of Commerce no. : 137243 of Ascoli Piceno since
01/03/1996 |
|
Chamber of Commerce no. : 202444 of Ascoli Piceno since
15/02/2016 |
|
Chamber of Commerce no. : 105172 of Campobasso since
07/07/2015 |
|
Chamber of Commerce no. : 121711 of Pescara since
22/03/2013 |
|
Firms' Register : AP019-8399 of Ascoli Piceno since
19/02/1996 |
|
V.A.T. Code : 01478670449 |
|
Foundation date |
: 11/11/1991 |
|
|
Establishment date |
: 11/11/1991 |
|
|
Start of Activities |
: 13/09/2010 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 80.000 |
|
|
Subscribed Capital |
: 80.000 |
|
|
Paid up Capital |
: 80.000 |
|
Legal mail : |
GENKO_SRL@PEC.IT |
Members
|
|
Massullo |
Giuseppe |
|
|
Born in Campobasso |
(CB) |
on 24/06/1963 |
- Fiscal Code : MSSGPP63H24B519Y |
|
|
Residence: |
Puglia |
, 159 |
- 86100 |
Campobasso |
(CB) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole Director |
|||
|
Person in charge |
30/06/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
H G M S.r.l. |
|
|
: |
Colle Delle Api - Zona Industr |
, 92 |
- 86100 |
Campobasso |
(CB) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Partner |
|
|
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.
|
|
Massullo |
Giuseppe |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Sogen S.r.l. |
Campobasso (CB) - IT - |
01521030443 |
Sole
Director |
Withdrawn |
Registered |
|
Gem S.r.l. |
San Benedetto del Tronto (AP) - IT - |
00849850706 |
Director |
Active |
Registered |
|
Gem S.r.l. |
San Benedetto del Tronto (AP) - IT - |
00849850706 |
Sole
Director |
Withdrawn |
Registered |
|
Gem S.r.l. |
San Benedetto del Tronto (AP) - IT - |
00849850706 |
Board
Chairman |
Active |
Registered |
|
Societa' Multiservizi Contabili Srl |
Campobasso (CB) - IT - |
00867550709 |
Sole
Director |
Withdrawn |
Registered |
|
Societa' Multiservizi Contabili Srl |
Campobasso (CB) - IT - |
00867550709 |
Liquidator |
Withdrawn |
Registered |
|
MASSULLO GIUSEPPE |
Campobasso (CB) - IT - |
Proprietor |
Withdrawn |
Registered |
|
|
H G M S.r.l. |
Campobasso (CB) - IT - |
01544970708 |
Sole
Director |
Active |
Registered |
|
Sgm S.r.l. |
San Benedetto del Tronto (AP) - IT - |
01963180441 |
Sole
Director |
Withdrawn |
Registered |
|
Sgm S.r.l. |
San Benedetto del Tronto (AP) - IT - |
01963180441 |
Sole
partner |
Withdrawn |
Registered |
|
Unigross S.r.l. |
San Benedetto del Tronto (AP) - IT - |
02203100694 |
Director |
Withdrawn |
Registered |
|
Unigross S.r.l. |
San Benedetto del Tronto (AP) - IT - |
02203100694 |
Sole
Director |
Withdrawn |
Registered |
|
Unigross S.r.l. |
San Benedetto del Tronto (AP) - IT - |
02203100694 |
Board
Chairman |
Withdrawn |
Registered |
|
Emmegross Group Srl |
Pescara (PE) - IT - |
02002790687 |
Director |
Active |
Registered |
|
Emmegross Group Srl |
Pescara (PE) - IT - |
02002790687 |
Legal
representative |
Active |
Registered |
|
Emmegross Group Srl |
Pescara (PE) - IT - |
02002790687 |
Board
Chairman |
Active |
Registered |
|
Albachiara Srl |
Benevento (BN) - IT - |
01561560622 |
Director |
Withdrawn |
Registered |
|
Undergross Srl |
San Benedetto del Tronto (AP) - IT - |
01943940443 |
Person
in charge |
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 |
|
H G M S.r.l. |
Campobasso - IT - |
01544970708 |
77.600
.Eur |
97,00 |
|
Bagnoli Maria |
BGNMRA63H46D737K |
2.400
.Eur |
3,00 |
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 |
|
Hpl S.r.l. In Liquidazione |
Campobasso - IT - |
01522730702 |
49.500
.Eur |
50,00 |
Active |
||
|
Wear It S.r.l. |
01775430703 |
45.000
.Eur |
90,00 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the
following locations:
|
- |
Legal and operative seat |
|
Manzoni |
, 2 |
- 63074 |
- San Benedetto del Tronto |
(AP) |
- IT - |
|
Legal mail |
: GENKO_SRL@PEC.IT |
|
- |
Secondary office |
since 30/06/2015 |
|
Vertonica |
, SNC |
- 65013 |
- Citta' Sant'Angelo |
(PE) |
- IT - |
|
PHONE |
: 085 9152236 |
|
- |
Branch |
(Warehouse) |
since 27/05/2011 |
|
Roseto |
, 0 |
- 86019 |
- Vinchiaturo |
(CB) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 19/05/2015 |
|
Colle Delle Api |
, 92 |
- 86100 |
- Campobasso |
(CB) |
- IT - |
|
- |
Branch |
(Store) |
since 31/08/2015 |
|
C.da Vertonica - C.c. Ibisco |
, SNC |
- 65013 |
- Citta' Sant'Angelo |
(PE) |
- IT - |
|
- |
Branch |
(Warehouse) |
since 01/07/2016 |
|
Corsica |
, 137 |
- 86039 |
- Termoli |
(CB) |
- IT - |
|
Employees |
: 24 |
|
Fittings and Equipment for a value of 140.000 |
Eur |
|
Stocks for a value of 4.600.000 |
Eur |
Historical
Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
Project of splitting-up and tranfer into |
|
|
|
|
Manzoni |
, 2 |
, 63074 |
, San Benedetto del Tronto |
(AP) |
- IT - |
|
|
Fiscal Code: 01963180441 |
|
|
Date |
Merging/splitting-up project: |
28/10/2013 |
|
|
Splitting-up and transfer of assets to |
|
|
|
|
Manzoni |
, 2 |
, 63074 |
, San Benedetto del Tronto |
(AP) |
- IT - |
|
|
Fiscal Code: 01963180441 |
|
|
Date |
Splitting-up: |
30/01/2014 |
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 |
|
MONTE DEI PASCHI DI SIENA SPA |
1030 |
0 |
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 2010.
The economic-financial analysis has been made on the base of
the b/s of the latests three years.
During the last years, it achieved profits (r.o.e. 69,75% on
2016) keeping the turnover steady during the last two years.
The operating result was positive in the last financial year
(11,06%) falling within the field's average.
An operating result of Eur. 2.340.936 has been registered.
increasing if compared to the yeart 2015.
The gross operating margin of the latest financial year is
of Eur. 2.440.068 with a 34,42% increase as opposed to the preceding year.
The ratio between shareholder's equity and borrowed capital
is not well balanced, the indebtedness level is equal to 8,03 but on the
decrease if compared to the year before.
The management generated equity capital for an amount of
Eur. 2.097.804 , increasing by 35,26% if compared to the year before.
Total indebtedness was equal to Eur. 18.893.583 (Eur.
1.212.079 was the value of m/l term debts) , with no sensible variation.
Both financial indebtedness and suppliers exposure are
rather high even if it still falls within the sector's average.
Liquidity is good (1,17)
Accounts receivable average term is 44,37 days. , a value
lower than the sector's average.
During financial year 2016 the cash flow amounted to Eur.
1.562.421
Labour cost amounts to Eur. 804.439, with a 2,63% incidence
on production costs. and a 2,51% incidence on sales volumes.
The incidence of the financial charges is of -0,39% on the
sales amount.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
32.043.258 |
|
Profit (Loss) for the period |
1.463.289 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
31.514.098 |
|
Profit (Loss) for the period |
951.298 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
25.745.143 |
|
Profit (Loss) for the period |
1.256.521 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
23.617.680 |
|
Profit (Loss) for the period |
571.885 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
24.166.658 |
|
Profit (Loss) for the period |
503.112 |
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 |
0,02 |
0,02 |
0,03 |
0,09 |
|
Elasticity Ratio |
Units |
0,98 |
0,98 |
0,97 |
0,89 |
|
Availability of stock |
Units |
0,22 |
0,25 |
0,40 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,76 |
0,73 |
0,56 |
0,54 |
|
Quick Ratio |
Units |
0,34 |
0,02 |
0,03 |
0,03 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
8,03 |
9,86 |
4,18 |
3,95 |
|
Self Financing Ratio |
Units |
0,10 |
0,08 |
0,17 |
0,17 |
|
Capital protection Ratio |
Units |
0,26 |
0,34 |
0,43 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,08 |
0,13 |
0,11 |
0,10 |
|
Financing |
Units |
9,01 |
11,39 |
4,79 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,16 |
0,19 |
0,25 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,11 |
0,08 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
3,03 |
4,59 |
2,22 |
1,04 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
10,07 |
9,99 |
8,32 |
2,37 |
|
Current ratio |
Units |
1,17 |
1,21 |
1,30 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,91 |
0,90 |
0,76 |
0,80 |
|
Structure's primary quotient |
Units |
6,15 |
4,25 |
5,60 |
1,48 |
|
Treasury's primary quotient |
Units |
0,41 |
0,02 |
0,04 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
1008,57 |
1247,74 |
585,07 |
602,26 |
|
Current Capital ( net ) |
Value |
3.070.391 |
3.235.551 |
2.992.920 |
191.984 |
|
RETURN |
|||||
|
Return on Sales |
% |
4,88 |
3,42 |
5,43 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
69,75 |
61,34 |
54,03 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
105,63 |
93,44 |
81,85 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
11,06 |
8,73 |
16,22 |
4,18 |
|
Return/ Sales |
% |
7,31 |
5,36 |
8,57 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
62,51 |
56,33 |
56,94 |
27,96 |
|
Cash Flow |
Value |
1.562.421 |
1.077.643 |
1.397.162 |
44.823 |
|
Operating Profit |
Value |
2.340.936 |
1.688.872 |
2.206.688 |
74.603 |
|
Gross Operating Margin |
Value |
2.440.068 |
1.815.217 |
2.347.329 |
111.383 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
44,37 |
91,37 |
3,06 |
113,70 |
|
Debts to suppliers average term |
Days |
140,71 |
97,15 |
74,25 |
118,14 |
|
Average stock waiting period |
Days |
51,71 |
55,63 |
76,17 |
72,90 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,51 |
1,63 |
1,89 |
1,25 |
|
Rate of stock return |
Units |
6,96 |
6,47 |
4,73 |
4,88 |
|
Labour cost incidence |
% |
2,51 |
2,33 |
2,99 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
-0,39 |
-0,69 |
-1,07 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
2,63 |
2,39 |
3,24 |
8,25 |
|
Short-term financing charges |
% |
1,62 |
1,90 |
2,97 |
2,76 |
|
Capital on hand |
% |
66,03 |
61,40 |
52,85 |
79,85 |
|
Sales pro employee |
Value |
1.281.730 |
1.432.459 |
1.072.714 |
397.742 |
|
Labour cost pro employee |
Value |
32.177 |
33.383 |
32.039 |
33.267 |
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 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
Statistically the trade activity passes through serious
crises.
The area is statistically considered moderately risky.
In the region 9.333 protested subjects are found; in the
province they count to 2.654.
The insolvency index for the region is 0,62, , while for the
province it is 0,71.
Total Bankrupt companies in the province : 2.089.
Total Bankrupt companies in the region : 6.005.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.77 |
|
|
1 |
INR 89.20 |
|
Euro |
1 |
INR 78.22 |
|
Euro |
1 |
INR 78.43 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.