|
|
|
MIRA INFORM REPORT
|
Report No. : |
510309 |
|
Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EXPLORING
OUTDOOR S.R.L. |
|
|
|
|
Registered Office : |
Via
Biella, 24 13894 – Gaglianico |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
08.04.1994 |
|
|
|
|
Legal Form : |
Sole-Member Limited Liability Company |
|
|
|
|
Line of Business : |
Subject
is Other amusement and recreation activities n.e.c. |
|
|
|
|
No. of Employees : |
From 1 to 5 |
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+ |
Low Risk |
Business dealings permissible with low
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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’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 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
Exploring
Outdoor S.r.l.
Via
Biella, 24
13894
– Gaglianico (BI) -IT-
Summary
|
Fiscal
Code |
: |
11199060150 |
|
Legal
Form |
: |
Sole-Member
Limited Liability Company |
|
start
of Activities |
: |
08/04/1994 |
|
Equity |
: |
125.000 |
|
Turnover
Range |
: |
1.000.000/1.250.000 |
|
Number
of Employees |
: |
from
1 to 5 |
Activity
Other
amusement and recreation activities n.e.c.
Legal
Data
Legal
Form : Sole-Member Limited Liability Company
|
Fiscal
Code : 11199060150 |
|
Municipal
Licence : of since 17/01/2014 |
|
Municipal
Licence : 1466 of since 21/02/2011 |
|
Chamber
of Commerce no. : 177540 of Biella since 29/07/2013 |
|
Chamber
of Commerce no. : 1445875 of Milano |
|
Chamber
of Commerce no. : 272839 of Pavia |
|
Firms'
Register : 344998 of Milano |
|
V.A.T.
Code : 11199060150 |
|
Establishment
date |
:
08/04/1994 |
|
|
Start
of Activities |
:
08/04/1994 |
|
|
Legal
duration |
:
31/12/2044 |
|
|
Nominal
Capital |
:
10.400 |
|
|
Subscribed
Capital |
:
10.400 |
|
|
Paid
up Capital |
:
10.400 |
|
Legal
mail : |
EXPLORINGOUTDOOR@REGISTERPEC.IT |
Members
|
|
Morganti |
Michele |
|
|
Born
in Milano |
(MI) |
on
08/11/1967 |
-
Fiscal Code : MRGMHL67S08F205K |
|
|
Residence: |
Albani
Francesco |
,
9 |
-
20149 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
14/11/2013 |
|
|
Sorba |
Yves |
|
|
Born
in Soisy Sous Montmorency |
(
) |
on
23/08/1965 |
-
Fiscal Code : SRBYVS65M23Z110Z |
|
|
Residence: |
Biella |
,
24 |
-
13894 |
Gaglianico |
(BI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Director |
14/11/2013 |
||
|
Board
Chairman |
14/11/2013 |
|
|
No
Prejudicial events are reported |
|
|
No
Protests registered |
|
|
Redeo
S.r.l. |
|
|
: |
Sabotino |
,
19/2 |
-
20135 |
Milano |
(MI) |
-
IT - |
|
Position |
Since |
Shares
Amount |
%
Ownership |
|
Sole
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.
|
|
Sorba |
Yves |
|
Firm's
Style |
Seat |
Fiscal
Code |
Position |
Position
Status |
Firm's
Status |
|
Redeo
S.r.l. |
Milano
(MI) - IT - |
08225690968 |
Sole
Director |
Active |
Registered |
|
Redeo
S.r.l. |
Milano
(MI) - IT - |
08225690968 |
Sole
partner |
Active |
Registered |
|
Zena
Avventura - Societa' A Responsabilita' Limitata |
Savona
(SV) - IT - |
02470320991 |
Director |
Active |
Registered |
|
Zena
Avventura - Societa' A Responsabilita' Limitata |
Savona
(SV) - IT - |
02470320991 |
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 |
|
Redeo
S.r.l. |
Milano
- IT - |
08225690968 |
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 |
|
Consorzio
Turistico Oasi Zegna |
Trivero
- IT - |
02232340022 |
Active |
||||
|
Zena
Avventura - Societa' A Responsabili ta' Limitata |
Savona
- IT - |
02470320991 |
1.800
.Eur |
36,00 |
Active |
Firm's
location and structure
In
order to carry out its activities the firm uses the following locations:
|
- |
Legal
and operative seat |
|
Biella |
,
24 |
-
13052 |
-
Gaglianico |
(BI) |
-
IT - |
|
Website |
:
www.bungee.it |
|
Legal
mail |
:
EXPLORINGOUTDOOR@REGISTERPEC.IT |
|
- |
Branch |
since
16/04/2010 |
|
Rondo'
Rio Poala |
,
SNC |
-
13050 |
-
Veglio |
(BI) |
-
IT - |
|
Total
Surface: 30 Sq.mt. |
|
- |
Branch |
since
01/10/2011 |
|
Calcibella |
,
2 |
-
27052 |
-
Godiasco |
(PV) |
-
IT - |
|
Employees |
:
5 |
|
Stocks
for a value of 78.000 |
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
The
firm under review, by the reported percentages, owns the following real
estates:
|
Town |
Cadastre |
No.
Immovables |
Up
to Date |
|
VEGLIO
(BI) |
Buildings |
1 |
17/05/2018 |
|
VEGLIO
(BI) |
Land |
9 |
17/05/2018 |
|
Buildings
Details |
|
Cadastre |
Title |
Location |
Sheet
No. |
Particle
No. |
Sub
No. |
Categorie |
Classe |
Consistence |
Cadastrial
Rent |
Part
No. |
|
B |
Proprieta'
per 1/1 |
VEGLIO
(BI) FRAZIONE PRINA, Piano T |
4 |
596 |
cat.
C/1 |
1 |
40
mq |
Euro:468,94 |
|
Land
Details |
|
Cadastre |
Title |
Location |
Sheet
No. |
Particle
No. |
Sub
No. |
Category |
Class |
Consistence |
Cadastrial
Rent |
Part
No. |
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
365 |
CAST
FRUTTO |
U |
10
are 80 ca |
R.D.Euro:1,12
R.A. Euro: 0,56 |
305 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
366 |
CAST
FRUTTO |
U |
15
are 60 ca |
R.D.Euro:1,61
R.A. Euro: 0,81 |
93 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
367 |
PRATO |
3 |
25
are 90 ca |
R.D.Euro:3,34
R.A. Euro: 4,01 |
265 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
370 |
PRATO |
3 |
1
are 20 ca |
R.D.Euro:0,15
R.A. Euro: 0,19 |
305 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
371 |
PRATO |
3 |
3
are 7 ca |
R.D.Euro:0,40
R.A. Euro: 0,48 |
||
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
373 |
PRATO |
3 |
4
are 70 ca |
R.D.Euro:0,61
R.A. Euro: 0,73 |
457 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
380 |
BOSCO
CEDUO |
2 |
84
ca |
R.D.Euro:0,07
R.A. Euro: 0,03 |
796 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
382 |
BOSCO
CEDUO |
2 |
13
are 60 ca |
R.D.Euro:1,12
R.A. Euro: 0,49 |
796 |
|
|
L |
Proprieta'
per 1/1 |
VEGLIO
(BI) |
4 |
383 |
BOSCO
CEDUO |
2 |
20
are 90 ca |
R.D.Euro:1,73
R.A. Euro: 0,76 |
796 |
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 1994
Balance
sheets for the years 2014, 2015 and 2016 were analyzed.
During
the last years, it achieved profits (r.o.e. 34,44% on 2016)
The
operating result was positive in the last financial year (15,42%) and in line
with the sector's average.
An
operating result of Eur. 71.703 has been registered. showing an upward trend
45,8% compared to the previous financial year.
The
G.O.M. amounted to Eur. 91.981 showing an upward trend if compared to 2015.
From
a financial aspect the company's status covers total short-term debts; the
indebtedness volume in 2016 is in fact 0,9 and with an upward trend compared to
the previous year.
The
management generated equity capital for an amount of Eur. 105.796 , falling in
comparison with the year before.
During
the last financial year debts totalled Eur. 195.207 (Eur. 23.148 of which were
m/l term debts) , with no sensible variation.
Available
funds are good.
2016
financial year closed with a cash flow of Eur. 56.717
Labour
cost expenses amount to Eur. 236.622 , representing 24,08% on the total of
production costs. and a 22,57% incidence on sales volumes.
The
financial management has a limited economic impact, equal to -0,95% on the
sales.
Financial
Data
|
|
Complete
balance-sheet for the year |
al
31/12/2016 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
1.048.345 |
|
Profit
(Loss) for the period |
36.439 |
|
|
Complete
balance-sheet for the year |
al
31/12/2015 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
1.234.341 |
|
Profit
(Loss) for the period |
20.678 |
|
|
Complete
balance-sheet for the year |
al
31/12/2014 |
(in
Eur |
x
1) |
|
Item
Type |
Value |
|
Sales |
849.016 |
|
Profit
(Loss) for the period |
5.356 |
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 |
0,32 |
0,37 |
0,38 |
0,66 |
|
Elasticity
Ratio |
Units |
0,52 |
0,62 |
0,60 |
0,33 |
|
Availability
of stock |
Units |
0,17 |
0,18 |
0,15 |
0,03 |
|
Total
Liquidity Ratio |
Units |
0,35 |
0,43 |
0,44 |
0,27 |
|
Quick
Ratio |
Units |
0,19 |
0,06 |
0,11 |
0,07 |
|
COMPOSITION
ON SOURCE |
|||||
|
Net
Short-term indebtedness |
Units |
0,90 |
1,33 |
1,21 |
1,94 |
|
Self
Financing Ratio |
Units |
0,23 |
0,31 |
0,34 |
0,22 |
|
Capital
protection Ratio |
Units |
0,56 |
0,77 |
0,90 |
0,40 |
|
Liabilities
consolidation quotient |
Units |
0,54 |
0,29 |
0,25 |
0,37 |
|
Financing |
Units |
1,85 |
1,53 |
1,54 |
3,34 |
|
Permanent
Indebtedness Ratio |
Units |
0,43 |
0,44 |
0,48 |
0,47 |
|
M/L
term Debts Ratio |
Units |
0,20 |
0,14 |
0,13 |
0,19 |
|
Net
Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
0,50 |
|
CORRELATION |
|||||
|
Fixed
assets ratio |
Units |
1,33 |
1,20 |
1,24 |
0,85 |
|
Current
ratio |
Units |
1,40 |
1,30 |
1,14 |
0,73 |
|
Acid
Test Ratio-Liquidity Ratio |
Units |
0,95 |
0,92 |
0,85 |
0,60 |
|
Structure's
primary quotient |
Units |
0,71 |
0,83 |
0,90 |
0,40 |
|
Treasury's
primary quotient |
Units |
0,51 |
0,13 |
0,20 |
0,14 |
|
Rate
of indebtedness ( Leverage ) |
% |
439,56 |
324,90 |
289,98 |
434,52 |
|
Current
Capital ( net ) |
Value |
69.327 |
63.201 |
32.320 |
-27.385 |
|
RETURN |
|||||
|
Return
on Sales |
% |
5,41 |
3,77 |
4,10 |
7,25 |
|
Return
on Equity - Net- ( R.O.E. ) |
% |
34,44 |
15,28 |
3,51 |
3,79 |
|
Return
on Equity - Gross - ( R.O.E. ) |
% |
58,36 |
28,78 |
9,94 |
13,16 |
|
Return
on Investment ( R.O.I. ) |
% |
15,42 |
11,18 |
5,57 |
2,01 |
|
Return/
Sales |
% |
6,84 |
3,98 |
2,90 |
2,62 |
|
Extra
Management revenues/charges incid. |
% |
50,82 |
42,05 |
21,72 |
32,31 |
|
Cash
Flow |
Value |
56.717 |
46.545 |
34.841 |
20.423 |
|
Operating
Profit |
Value |
71.703 |
49.178 |
24.661 |
9.095 |
|
Gross
Operating Margin |
Value |
91.981 |
75.045 |
54.146 |
34.830 |
|
MANAGEMENT |
|||||
|
Credits
to clients average term |
Days |
n.c. |
n.c. |
n.c. |
41,07 |
|
Debts
to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
110,43 |
|
Average
stock waiting period |
Days |
26,72 |
23,40 |
28,80 |
12,77 |
|
Rate
of capital employed return ( Turnover ) |
Units |
2,25 |
2,81 |
1,92 |
1,00 |
|
Rate
of stock return |
Units |
13,47 |
15,38 |
12,50 |
28,18 |
|
Labour
cost incidence |
% |
22,57 |
19,53 |
23,98 |
17,59 |
|
Net
financial revenues/ charges incidence |
% |
-0,95 |
-0,82 |
-1,10 |
-1,25 |
|
Labour
cost on purchasing expenses |
% |
24,08 |
20,02 |
24,16 |
17,63 |
|
Short-term
financing charges |
% |
5,14 |
4,86 |
3,99 |
1,95 |
|
Capital
on hand |
% |
44,36 |
35,63 |
52,11 |
99,07 |
|
Sales
pro employee |
Value |
149.763 |
176.334 |
141.502 |
123.672 |
|
Labour
cost pro employee |
Value |
33.803 |
34.436 |
33.932 |
30.254 |
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 196 significant companies.
The
companies cash their credits on an average of 41 dd.
The
average duration of suppliers debts is about 110 dd.
The
sector's profitability is on an average of 7,25%.
The
labour cost affects the turnover in the measure of 17,59%.
Goods
are held in stock in a range of 13 dd.
The
difference between the sales volume and the resources used to realize it is
about 1,00.
The
employees costs represent the 17,63% 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 27.019 protested subjects are found; in the province they count to
1.057.
The
insolvency index for the region is 0,63, , while for the province it is 0,56.
Total
Bankrupt companies in the province : 750.
Total
Bankrupt companies in the region : 14.165.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.95 |
|
|
1 |
INR 91.87 |
|
Euro |
1 |
INR 80.27 |
|
Euro |
1 |
INR 80.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
DNS |
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.