|
|
|
MIRA INFORM REPORT
|
Report No. : |
488095 |
|
Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TECNO POULTRY EQUIPMENT S.P.A. |
|
|
|
|
Registered Office : |
Via Salvo D'acquisto,11 Ronchi di Campanile 35010 - Villafranca Padovana (PD) -IT- |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
23.03.1977 |
|
|
|
|
Legal Form : |
Joint stock company |
|
|
|
|
Line of Business : |
Manufacture of other agriculture, silviculture and
zootechnics machinery |
|
|
|
|
No. of Employees : |
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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
|
|
|
|
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 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
Tecno Poultry Equipment S.p.a.
Via Salvo D'acquisto, 11 RONCHI
DI CAMPANILE
35010 - Villafranca Padovana (PD) -IT-
Summary
|
Fiscal Code |
: |
80029860287 |
|
Legal Form |
: |
Joint stock company |
|
start of Activities |
: |
28/06/1980 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
50.000.000/75.000.000 |
|
Number of Employees |
: |
from 51 to 70 |
Activity
Manufacture of other agriculture, silviculture and
zootechnics machinery
Legal
Data
Legal Form : Joint stock company
|
Fiscal Code : 80029860287 |
|
Foreign Trade Reg. no. : PD020675 since 27/02/1992 |
|
Chamber of Commerce no. : 130884 of Padova since
15/06/1977 |
|
Firms' Register : PD060-10991 of Padova since 19/02/1996 |
|
V.A.T. Code : 00890950280 |
|
Foundation date |
: 23/03/1977 |
|
|
Establishment date |
: 23/03/1977 |
|
|
Start of Activities |
: 28/06/1980 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 2.500.000 |
|
|
Subscribed Capital |
: 2.500.000 |
|
|
Paid up Capital |
: 2.500.000 |
|
Legal mail : |
TECNOPOULTRYEQUIPMENT@LEGALMAIL.IT |
Members
|
|
Del Torso |
Alessandro |
|
|
Born in Camposampiero |
(PD) |
on 14/09/1978 |
- Fiscal Code : DLTLSN78P14B563D |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Attorney with special power |
03/02/2017 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Zuech |
Roberto |
|
|
Born in Bourbon Lancy |
( ) |
on 12/10/1965 |
- Fiscal Code : ZCHRRT65R12Z110R |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Attorney with special power |
03/02/2017 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Devienne |
Frederic Michel |
|
|
Born in Lorient |
( ) |
on 04/11/1961 |
- Fiscal Code : DVNFDR61S04Z110L |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
02/02/2016 |
|
|
Batkin |
Roger Neil |
|
|
Born in Whitchurch |
( ) |
on 23/08/1968 |
- Fiscal Code : BTKRRN68M23Z114O |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
02/02/2016 |
||
|
Board Chairman |
02/02/2016 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Penta |
Gianfranco |
|
|
Born in Vicenza |
(VI) |
on 04/09/1968 |
- Fiscal Code : PNTGFR68P04L840G |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
20/01/2017 |
|
|
Welke |
Thomas |
|
|
Born in Michigan |
( ) |
on 26/07/1960 |
- Fiscal Code : WLKTMS60L26Z404N |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
02/02/2016 |
|
|
Agco International Holdings Bv |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole partner |
02/02/2016 |
|
|
No Protests registered |
|
|
Mechini |
Giuliano |
|
|
Born in Padova |
(PD) |
on 29/08/1970 |
- Fiscal Code : MCHGLN70M29G224K |
|
|
Residence: |
Salvo D'acquisto |
, 11 |
- 35010 |
Villafranca Padovana |
(PD) |
- IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Attorney with special power |
03/02/2017 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Agco International Holdings Bv |
|
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.
|
|
Batkin |
Roger Neil |
|
Firm's Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Farmec S.r.l. |
Breganze (VI) - IT - |
00465190585 |
Sole
Director |
Active |
Registered |
|
Agco Italia S.p.a. |
Breganze (VI) - IT - |
02105131201 |
Managing
Director |
Active |
Registered |
|
Agco Italia S.p.a. |
Breganze (VI) - IT - |
02105131201 |
Director |
Active |
Registered |
|
Agco Italia S.p.a. |
Breganze (VI) - IT - |
02105131201 |
Procurator |
Active |
Registered |
|
Laverda Agco S.p.a. - Ovvero In Forma Abbreviata Laverda
S.p.a. - Ovvero In Fo |
Breganze (VI) - IT - |
01892380351 |
Director |
Active |
Registered |
|
C-lines Italia S.r.l. In Liquidazione |
Torino (TO) - IT - |
11196500018 |
Liquidator |
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 |
|
Agco International Holdings Bv |
2.500.000
.Eur |
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 |
|
Sapi S.p.a. |
Padova - IT - |
00667110282 |
2.550
.Eur |
0,08 |
Active |
Firm's
location and structure
In order to carry out its activities the firm uses the
following locations:
|
- |
Legal and operative seat |
since 02/07/1980 |
|
Salvo D'acquisto |
, 11 |
- 35010 |
- Villafranca Padovana |
(PD) |
- IT - |
|
PHONE |
: 0499699666 |
|
FAX |
: 0499630044 |
|
Legal mail |
: TECNOPOULTRYEQUIPMENT@LEGALMAIL.IT |
|
- |
Branch |
(Factory) |
since 12/03/2010 |
|
Dell'artigianato |
, 59/B |
- 35010 |
- Santa Giustina in Colle |
(PD) |
- IT - |
|
Employees |
: 70 |
|
Fittings and Equipment for a value of 1.290.000 |
Eur |
|
Stocks for a value of 6.640.000 |
Eur |
|
Vehicles for a value of 230.000 |
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 up to 20% of the global turnover.
Products abroad are placed by :
|
- its own sales net-work |
|
- its own agents |
Import comes generally from the following nations:
|
- Belgium |
Export is mainly towards:
|
- Greece |
|
- France |
Historical
Information and/or Firm's Status
COMPANY STYLE MODIFICATIONS:
|
Former Style |
New Style |
Changement
Date |
|
Facco Impianti Avicoli S.r.l. |
Tecno Impianti Avicoli S.r.l. |
03/05/1995 |
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
Subject is active since 1980
An eco-fin analysis has been made on the base od the b/s fo
the years 2014, 2015 and 2016.
Under an economic point of view, profits were registered
during the last years with a r.o.e. of 37,39% in 2016 and during the last
financial year an increase in sales volume was registered (+10,66% in 2016).
The operating result was positive in the last financial year
(25,84%) and is higher than the sector's average.
The amount of the operating result for the year 2016 is of
Eur. 15.129.944 showing an upward trend more then 100% compared to the previous
financial year.
A gross operating margine for a value of Eur. 15.731.485 was
reached. with a 47,61% increase as opposed to the preceding year.
The company has an excellent net worth if compared to its
debts, with a low indebtedness (0,27) improved in comparison with the year
before (0,93.).
Subject can manage an equity capital funds for an amount of
Eur. 28.256.107 , rising by 55,21%.
Total indebtedness totalled Eur. 28.460.351, on the same
levels as the year before.
Bank and suppliers credit recourse is limited, 85,07 gg. is
payment average period which is also lower than the sector average.
The management determines a good range of liquidity.
As far as the collection of credit goes, the average is high
(118,16 days). but in line with the sector.
Eur. 11.166.113 is the value of cash flow during the year
2016
During 2016 financial year labour costs amounted to Eur.
5.275.945, with a 9,28% incidence on production costs. , whereas the incidence
of such costs on sales revenues is equal to 7,18%.
Financial charges have a limited incidence (-0,1%) on sales
volume.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
73.529.955 |
|
Profit (Loss) for the period |
10.564.572 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
66.445.945 |
|
Profit (Loss) for the period |
4.053.570 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
71.033.403 |
|
Profit (Loss) for the period |
9.814.265 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
60.009.145 |
|
Profit (Loss) for the period |
2.470.076 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
70.264.349 |
|
Profit (Loss) for the period |
938.046 |
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 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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 |
0,11 |
0,17 |
0,24 |
|
Elasticity Ratio |
Units |
0,95 |
0,87 |
0,80 |
0,75 |
|
Availability of stock |
Units |
0,11 |
0,20 |
0,16 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,84 |
0,67 |
0,64 |
0,44 |
|
Quick Ratio |
Units |
0,36 |
0,26 |
0,16 |
0,01 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,27 |
0,93 |
1,43 |
2,16 |
|
Self Financing Ratio |
Units |
0,48 |
0,36 |
0,31 |
0,24 |
|
Capital protection Ratio |
Units |
0,54 |
0,64 |
0,13 |
0,73 |
|
Liabilities consolidation quotient |
Units |
0,04 |
0,07 |
0,09 |
0,24 |
|
Financing |
Units |
1,01 |
1,72 |
2,03 |
2,80 |
|
Permanent Indebtedness Ratio |
Units |
0,50 |
0,40 |
0,37 |
0,41 |
|
M/L term Debts Ratio |
Units |
0,02 |
0,04 |
0,05 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
1,27 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
13,36 |
3,48 |
2,11 |
1,70 |
|
Current ratio |
Units |
1,96 |
1,47 |
1,32 |
1,26 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,73 |
1,14 |
1,05 |
0,83 |
|
Structure's primary quotient |
Units |
12,83 |
3,12 |
1,80 |
1,05 |
|
Treasury's primary quotient |
Units |
0,73 |
0,44 |
0,26 |
0,02 |
|
Rate of indebtedness ( Leverage ) |
% |
207,25 |
281,11 |
317,91 |
409,15 |
|
Current Capital ( net ) |
Value |
27.375.134 |
14.314.382 |
8.686.488 |
585.650 |
|
RETURN |
|||||
|
Return on Sales |
% |
15,19 |
11,04 |
15,41 |
3,38 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
37,39 |
22,27 |
69,35 |
4,44 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
53,29 |
37,52 |
104,20 |
13,50 |
|
Return on Investment ( R.O.I. ) |
% |
25,84 |
14,41 |
32,95 |
4,84 |
|
Return/ Sales |
% |
20,58 |
11,10 |
20,87 |
4,43 |
|
Extra Management revenues/charges incid. |
% |
69,83 |
54,97 |
66,20 |
34,26 |
|
Cash Flow |
Value |
11.166.113 |
7.336.025 |
10.949.622 |
187.403 |
|
Operating Profit |
Value |
15.129.944 |
7.374.707 |
14.824.748 |
213.008 |
|
Gross Operating Margin |
Value |
15.731.485 |
10.657.162 |
15.960.105 |
336.914 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
118,16 |
90,59 |
100,04 |
104,44 |
|
Debts to suppliers average term |
Days |
85,07 |
90,32 |
93,11 |
122,62 |
|
Average stock waiting period |
Days |
32,49 |
54,90 |
36,89 |
90,71 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,26 |
1,30 |
1,58 |
1,05 |
|
Rate of stock return |
Units |
11,08 |
6,56 |
9,76 |
3,92 |
|
Labour cost incidence |
% |
7,18 |
8,26 |
5,41 |
17,51 |
|
Net financial revenues/ charges incidence |
% |
-0,10 |
2,40 |
-0,10 |
-1,60 |
|
Labour cost on purchasing expenses |
% |
9,28 |
8,66 |
6,70 |
17,77 |
|
Short-term financing charges |
% |
1,82 |
n.c. |
3,71 |
2,97 |
|
Capital on hand |
% |
79,64 |
77,02 |
63,33 |
94,78 |
|
Sales pro employee |
Value |
448.353 |
388.572 |
591.945 |
202.615 |
|
Labour cost pro employee |
Value |
32.170 |
32.098 |
32.041 |
33.583 |
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 448 significant
companies.
The companies cash their credits on an average of 104 dd.
The average duration of suppliers debts is about 123 dd.
The sector's profitability is on an average of 3,38%.
The labour cost affects the turnover in the measure of
17,51%.
Goods are held in stock in a range of 91 dd.
The difference between the sales volume and the resources
used to realize it is about 1,05.
The employees costs represent the 17,77% 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 13.782 protested subjects are found; in the
province they count to 2.646.
The insolvency index for the region is 0,30, , while for the
province it is 0,30.
Total Bankrupt companies in the province : 3.821.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.54 |
|
|
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
|
Euro |
1 |
INR 78.78 |
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.