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MIRA INFORM REPORT
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Report No. : |
507898 |
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Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
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Name : |
ICONE' S.R.L. |
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Registered Office : |
Via Mirandola, 13 37026 - Pescantina (VR) -IT- |
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Country : |
Italy |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
27.05.2010 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Manufacture of machinery for paper and cardboard production
(including spare parts and accessories) |
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No. of Employees : |
From 26 to 35 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
|
Italy |
A1 |
A1 |
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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 compromises 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. 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%.
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Source
: CIA |
Company name and address
Icone' S.r.l.
Via Mirandola, 13
37026 - Pescantina (VR) -IT-
Summary
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Fiscal Code |
: |
07051860968 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
30/06/2010 |
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Equity |
: |
400.000 |
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Turnover Range |
: |
6.500.000/7.750.000 |
|
Number of Employees |
: |
from 26 to 35 |
Activity
Manufacture of machinery for paper and cardboard production
(including spare parts and accessories)
Legal
Data
Legal Form : Limited liability company
|
Fiscal Code : 07051860968 |
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Chamber of Commerce no. : 381121 of Verona since 03/01/2011 |
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V.A.T. Code : 07051860968 |
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Establishment date |
: 27/05/2010 |
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Start of Activities |
: 30/06/2010 |
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Legal duration |
: 31/12/2060 |
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Nominal Capital |
: 100.000 |
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Subscribed Capital |
: 100.000 |
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Paid up Capital |
: 100.000 |
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Legal mail : |
GAPCON@LEGALMAIL.IT |
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Legal mail : |
PEC@PEC.ICONESRL.COM |
Members
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De Biasi |
Francesco |
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Born in Verona |
(VR) |
on 04/09/1963 |
- Fiscal Code : DBSFNC63P04L781J |
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Residence: |
Marconi |
, 20 |
- 37023 |
Grezzana |
(VR) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Institor |
27/10/2011 |
||
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Attorney with special power |
27/10/2011 |
||
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Procurator |
27/10/2011 |
||
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Director |
29/11/2016 |
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No Prejudicial events are reported |
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No Protests registered |
|
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Kostka |
Antonin |
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Born in Bratislava |
( ) |
on 23/02/1961 |
- Fiscal Code : KSTNNN61B23Z105N |
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Residence: |
Colombo |
, 2 INT 3 |
- 37024 |
Negrar |
(VR) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
|
Institor |
27/10/2011 |
||
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Attorney with special power |
27/10/2011 |
||
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Procurator |
27/10/2011 |
||
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Director |
29/11/2016 |
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No Prejudicial events are reported |
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No Protests registered |
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Dosta'l |
David |
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Born in Opava |
( ) |
on 05/05/1971 |
- Fiscal Code : DSTDVD71E05Z156K |
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Residence: |
Komenske'ho |
, 688/15 |
- 78401 |
Litovel |
- - |
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Position |
Since |
Shares Amount |
% Ownership |
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Board Chairman |
29/11/2016 |
||
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Director |
29/11/2016 |
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No Prejudicial events are reported |
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No Protests registered |
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Papcel A.s. |
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Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
Companies
connected to members *
*checkings have been performed on a national scale.
In this module the companies in which members hold/held positions
are listed.
The Members of the subject firm are not reported to be Members in
other companies.
Capital
Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
De Biasi Francesco |
Grezzana - IT - |
DBSFNC63P04L781J |
5.000 .Eur |
5,00 |
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Papcel A.s. |
95.000 .Eur |
95,00 |
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 |
|
Mirandola |
, 13 |
- 37026 |
- Pescantina |
(VR) |
- IT - |
|
Legal mail |
: GAPCON@LEGALMAIL.IT |
|
Legal mail |
: PEC@PEC.ICONESRL.COM |
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Employees |
: 28 |
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Fittings and Equipment for a value of 39.000 |
Eur |
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Stocks for a value of 390.000 |
Eur |
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Work in progress for a value of 290.000 |
Eur |
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.
National
Real Estates Survey
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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.
An eco-fin analysis has been made on the base od the b/s fo the
years 2014, 2015 and 2016.
In the economic management , good and bad results followed on by
turns. ; in the last financial year a loss was registered (r.o.e. -191,25%) In
the last financial year a drop in sales has been registered (-53,18%).
A loss is registered as to the operating result (-21,08%).
The operating result is negative (Eur. -931.918).
It has been registered a negative gross operating margin value of
(Eur. -542.605).
The financial position is not well balanced as the volume of debts
is fairly remarkable if compared to shareholder's equity, in fact total debts
are 7,7 but on the decrease if compared to the year before.
Subject can manage an equity capital funds for an amount of Eur.
385.247 , rising by 90,24%.
Eur. 3.072.760 is the amount of total debts, both commercial and
of different nature, whereas in the year before they amounted to Eur.
5.321.850, with a -42,26% drop.
The financial exposure is moderate, on the other hand the recourse
to commercial credit is high, with a high average payment period and higher
than sector's average.
Liquid assets are good.
Due from customers average term is high and equal to 97,89 days. ,
as it normally happens in the sector.
Cash flow is negative at the end of financial year 2016.
Labour cost expenses amount to Eur. 2.295.725 , representing
30,17% on the total of production costs. , with a 34,74% incidence on turnover.
The incidence of the financial charges is of -0,01% on the sales
amount.
Financial
Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
6.608.859 |
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Profit (Loss) for the period |
-817.251 |
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Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
14.116.104 |
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Profit (Loss) for the period |
11.364 |
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Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
9.724.569 |
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Profit (Loss) for the period |
-200.133 |
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Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
13.789.102 |
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Profit (Loss) for the period |
204.084 |
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Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
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Item Type |
Value |
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Sales |
3.919.531 |
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Profit (Loss) for the period |
-624.792 |
Balance
Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
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- 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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- 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 |
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COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,17 |
0,16 |
0,07 |
0,18 |
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Elasticity Ratio |
Units |
0,82 |
0,84 |
0,92 |
0,80 |
|
Availability of stock |
Units |
0,09 |
0,10 |
0,12 |
0,24 |
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Total Liquidity Ratio |
Units |
0,73 |
0,74 |
0,81 |
0,48 |
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Quick Ratio |
Units |
0,02 |
0,03 |
0,06 |
0,03 |
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COMPOSITION ON SOURCE |
|||||
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Net Short-term indebtedness |
Units |
7,70 |
25,35 |
24,12 |
3,25 |
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Self Financing Ratio |
Units |
0,09 |
0,03 |
0,03 |
0,19 |
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Capital protection Ratio |
Units |
2,86 |
0,45 |
1,52 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,10 |
0,05 |
0,04 |
0,19 |
|
Financing |
Units |
7,98 |
26,28 |
25,85 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,16 |
0,07 |
0,07 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,07 |
0,04 |
0,03 |
0,11 |
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Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,63 |
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CORRELATION |
|||||
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Fixed assets ratio |
Units |
0,89 |
0,46 |
0,94 |
1,75 |
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Current ratio |
Units |
1,18 |
1,01 |
1,09 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,05 |
0,89 |
0,95 |
0,81 |
|
Structure's primary quotient |
Units |
0,50 |
0,20 |
0,47 |
1,03 |
|
Treasury's primary quotient |
Units |
0,03 |
0,04 |
0,07 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
1147,71 |
3152,13 |
3043,93 |
516,42 |
|
Current Capital ( net ) |
Value |
545.652 |
34.823 |
427.319 |
422.465 |
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RETURN |
|||||
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Return on Sales |
% |
-7,68 |
1,80 |
-0,77 |
3,35 |
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Return on Equity - Net- ( R.O.E. ) |
% |
-191,25 |
5,61 |
-104,71 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
-242,01 |
42,95 |
-146,15 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
-21,08 |
2,11 |
-3,46 |
4,16 |
|
Return/ Sales |
% |
-14,10 |
0,95 |
-2,07 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
n.c. |
8,45 |
n.c. |
28,57 |
|
Cash Flow |
Value |
-507.624 |
254.661 |
-74.778 |
122.482 |
|
Operating Profit |
Value |
-931.918 |
134.558 |
-201.403 |
144.752 |
|
Gross Operating Margin |
Value |
-542.605 |
427.892 |
44.952 |
241.990 |
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MANAGEMENT |
|||||
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Credits to clients average term |
Days |
97,89 |
85,30 |
71,21 |
111,85 |
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Debts to suppliers average term |
Days |
180,52 |
133,68 |
117,26 |
128,30 |
|
Average stock waiting period |
Days |
21,08 |
15,70 |
24,90 |
80,43 |
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Rate of capital employed return ( Turnover ) |
Units |
1,49 |
2,21 |
1,67 |
1,08 |
|
Rate of stock return |
Units |
17,07 |
22,93 |
14,46 |
4,45 |
|
Labour cost incidence |
% |
34,74 |
18,34 |
25,07 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
-0,01 |
-0,30 |
-0,14 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
30,17 |
18,20 |
22,56 |
19,02 |
|
Short-term financing charges |
% |
0,01 |
0,79 |
0,28 |
2,68 |
|
Capital on hand |
% |
66,90 |
45,22 |
59,83 |
91,91 |
|
Sales pro employee |
Value |
93.082 |
176.451 |
127.954 |
198.432 |
|
Labour cost pro employee |
Value |
32.334 |
32.359 |
32.078 |
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 13.782 protested subjects are found; in the province
they count to 2.673.
The insolvency index for the region is 0,30, , while for the
province it is 0,31.
Total Bankrupt companies in the province : 2.982.
Total Bankrupt companies in the region : 16.714.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.11 |
|
|
1 |
INR 90.85 |
|
Euro |
1 |
INR 80.12 |
|
Euro |
1 |
INR 79.98 |
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.