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MIRA INFORM REPORT
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Report No. : |
516745 |
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Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
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Name : |
CEITEX ITALIA S.R.L. |
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Registered Office : |
Via F. Bertoncini, 29/31 50054 –
Fucecchio (FI) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
06.12.2001 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Manufacture of textile articles n.e.c. |
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No. of Employees : |
From 6 to 10 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
|
Italy |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
ITALY - ECONOMIC OVERVIEW
Italy’s economy comprises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. 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 records. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's longstanding structural economic problems, including 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 2011. In 2015-16, Italy’s economy grew at about 1% each year, and in 2017 growth accelerated to 1.5% of GDP. In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%.
|
Source
: CIA |
Company
name and address
Ceitex Italia S.r.l.
Via F. Bertoncini, 29/31
50054 - Fucecchio (FI) -IT-
Summary
|
Fiscal Code |
: |
05173830489 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/01/2002 |
|
Equity |
: |
500.000 |
|
Turnover Range |
: |
2.250.000/3.000.000 |
|
Number of Employees |
: |
From 6 to 10 |
Activity
Manufacture of textile articles n.e.c.
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 05173830489 |
|
Foreign Trade Reg. no. : FI071956 since 22/02/2002 |
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Chamber of Commerce no. : 526165 of Firenze since 12/12/2001 |
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Firms' Register : FI-2001-76672 of Firenze |
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V.A.T. Code : 05173830489 |
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Establishment date |
: 06/12/2001 |
|
|
Start of Activities |
: 01/01/2002 |
|
|
Legal duration |
: 31/12/2100 |
|
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Nominal Capital |
: 27.000 |
|
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Subscribed Capital |
: 27.000 |
|
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Paid up Capital |
: 27.000 |
|
Legal mail : |
CEITEXITALIASRL@PEC.IT |
Members
|
|
Cei |
Adria |
|
|
Born in Cerreto Guidi |
(FI) |
on 26/10/1950 |
- Fiscal Code : CEIDRA50R66C529P |
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Residence: |
G. Falcone |
, 33/35 |
- 50050 |
Cerreto Guidi |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
28/08/2015 |
|
|
Maruccia |
Salvatore |
|
|
Born in Taranto |
(TA) |
on 02/01/1947 |
- Fiscal Code : MRCSVT47A02L049Q |
|
|
Residence: |
Giovanni Falcone |
, 33/35 |
- 50050 |
Cerreto Guidi |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/09/2013 |
|
|
Maruccia |
Massimiliano |
|
|
Born in Fucecchio |
(FI) |
on 28/11/1974 |
- Fiscal Code : MRCMSM74S28D815K |
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Residence: |
Torribina |
, 44 |
- 50050 |
Cerreto Guidi |
(FI) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
06/09/2013 |
||
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Board Chairman |
06/09/2013 |
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No Prejudicial events are reported |
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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.
|
|
Maruccia |
Massimiliano |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
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Immobiliare Ceitex Di Maruccia Massimiliano E C. S.a.s. |
Montopoli in Val d'Arno (PI) - IT - |
04432870485 |
Partner |
Withdrawn |
Registered |
|
Immobiliare Ceitex Di Maruccia Massimiliano E C. S.a.s. |
Montopoli in Val d'Arno (PI) - IT - |
04432870485 |
General Partner |
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 |
|
Maruccia Massimiliano |
Cerreto Guidi - IT - |
MRCMSM74S28D815K |
27.000 .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 |
|
F. Bertoncini |
, 29/31 |
- 50054 |
- Fucecchio |
(FI) |
- IT - |
|
Website |
: www.ceitex-italia.com |
|
Legal mail |
: CEITEXITALIASRL@PEC.IT |
|
Employees |
: 9 |
|
Fittings and Equipment for a value of 96.000 |
Eur |
|
Stocks for a value of 220.000 |
Eur |
Traded
Brands / Suppliers
|
- PEPENERO |
|
- BELSTAFF |
|
- EXIT |
Historical Information and/or Firm's Status
----
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 |
|
CASSA DI RISPARMIO DI SAN MINIATO SPA |
FILIALE DI CERRETO GUIDI |
VIA DEI FOSSI, 10 |
50050 |
Cerreto Guidi (FI) |
6300 |
37800 |
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 2002
An eco-fin analysis has been made
on the base od the b/s fo the years 2015, 2016 and 2017.
During the last years, it
achieved profits (r.o.e. 45,73% on 2017) with a stable trend in the turnover.
The operating result was positive
in the last financial year (18,33%) and higler than the field average.
An operating result of Eur.
263.983 has been registered. with a 62,84% growth.
During the latest financial year
the gross operating margin amounted to Eur. 299.683 showing a 58,97% growth.
The financial status of the
company is fairly balanced with an indebtedness level of 1,5 and falling as
against the previous year (2,55).
The management generated equity
capital for an amount of Eur. 410.645 , with an upward trend.
Total indebtedness amounts to
Eur. 926.887, on the same levels as the year before.
Available funds are good.
Eur. 223.497 is the value of cash
flow during the year 2017
Labour cost amounts to Eur.
237.611, with a 10,5% incidence on production costs. and a 9,99% incidence on
sales volumes.
The incidence of the financial
charges is of -0,42% on the sales amount.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2017 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.378.995 |
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Profit (Loss) for the period |
187.797 |
|
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Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.305.572 |
|
Profit (Loss) for the period |
106.576 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.247.430 |
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Profit (Loss) for the period |
203.270 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.154.012 |
|
Profit (Loss) for the period |
193.898 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.860.542 |
|
Profit (Loss) for the period |
113.318 |
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 31/12/2017 - 12 Mesi - Currency: - Amounts
x 1 |
|
- Balance Sheet as at 31/12/2016 - 12 Mesi - Currency: - Amounts
x 1 |
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- Balance Sheet as at 31/12/2015 - 12 Mesi - Currency: - Amounts
x 1 |
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RATIOS
|
RATIOS |
Value Type |
as at 31/12/2017 |
as at 31/12/2016 |
as at 31/12/2015 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,12 |
0,18 |
0,12 |
0,24 |
|
Elasticity Ratio |
Units |
0,87 |
0,80 |
0,84 |
0,72 |
|
Availability of stock |
Units |
0,15 |
0,17 |
0,15 |
0,19 |
|
Total Liquidity Ratio |
Units |
0,72 |
0,64 |
0,69 |
0,45 |
|
Quick Ratio |
Units |
0,22 |
0,06 |
0,06 |
0,02 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
1,50 |
2,55 |
2,64 |
1,93 |
|
Self Financing Ratio |
Units |
0,29 |
0,20 |
0,24 |
0,25 |
|
Capital protection Ratio |
Units |
0,48 |
0,40 |
0,03 |
0,71 |
|
Liabilities consolidation quotient |
Units |
0,09 |
0,36 |
0,08 |
0,23 |
|
Financing |
Units |
2,26 |
3,53 |
2,91 |
2,69 |
|
Permanent Indebtedness Ratio |
Units |
0,34 |
0,40 |
0,29 |
0,42 |
|
M/L term Debts Ratio |
Units |
0,06 |
0,20 |
0,06 |
0,10 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,12 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
2,83 |
2,28 |
2,49 |
1,56 |
|
Current ratio |
Units |
1,35 |
1,41 |
1,21 |
1,24 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,12 |
1,12 |
1,00 |
0,87 |
|
Structure's primary quotient |
Units |
2,36 |
1,14 |
2,01 |
1,01 |
|
Treasury's primary quotient |
Units |
0,33 |
0,10 |
0,09 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
350,77 |
498,21 |
420,92 |
407,34 |
|
Current Capital ( net ) |
Value |
324.128 |
260.657 |
147.366 |
387.489 |
|
RETURN |
|||||
|
Return on Sales |
% |
9,39 |
5,77 |
10,36 |
2,88 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
45,73 |
47,82 |
86,03 |
2,51 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
59,33 |
69,18 |
129,05 |
9,26 |
|
Return on Investment ( R.O.I. ) |
% |
18,33 |
14,60 |
31,09 |
3,77 |
|
Return/ Sales |
% |
11,10 |
7,03 |
13,76 |
3,77 |
|
Extra Management revenues/charges incid. |
% |
71,14 |
65,75 |
65,73 |
21,16 |
|
Cash Flow |
Value |
223.497 |
132.987 |
232.887 |
79.355 |
|
Operating Profit |
Value |
263.983 |
162.102 |
309.233 |
112.730 |
|
Gross Operating Margin |
Value |
299.683 |
188.513 |
338.850 |
210.674 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
117,72 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
111,36 |
|
Average stock waiting period |
Days |
32,69 |
28,77 |
23,30 |
76,26 |
|
Rate of capital employed return ( Turnover ) |
Units |
1,65 |
2,08 |
2,26 |
1,01 |
|
Rate of stock return |
Units |
11,01 |
12,51 |
15,45 |
4,65 |
|
Labour cost incidence |
% |
9,99 |
10,91 |
9,65 |
14,67 |
|
Net financial revenues/ charges incidence |
% |
-0,42 |
-0,34 |
-0,23 |
-1,77 |
|
Labour cost on purchasing expenses |
% |
10,50 |
11,43 |
10,91 |
14,77 |
|
Short-term financing charges |
% |
1,10 |
1,05 |
0,89 |
3,20 |
|
Capital on hand |
% |
60,55 |
48,15 |
44,25 |
98,20 |
|
Sales pro employee |
Value |
339.856 |
329.367 |
374.571 |
213.243 |
|
Labour cost pro employee |
Value |
33.944 |
35.938 |
36.150 |
32.119 |
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 1.146 significant
companies.
The companies cash their credits on an average of 118 dd.
The average duration of suppliers debts is about 111 dd.
The sector's profitability is on an average of 2,88%.
The labour cost affects the turnover in the measure of 14,67%.
Goods are held in stock in a range of 76 dd.
The difference between the sales volume and the resources used to
realize it is about 1,01.
The employees costs represent the 14,77% 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 68.17 |
|
|
1 |
INR 90.47 |
|
Euro |
1 |
INR 79.74 |
|
Euro |
1 |
INR 79.91 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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.