MIRA INFORM REPORT
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Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
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Name : |
METAREX SPA |
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Registered Office : |
Via S. Pellico 1/A, Marcon,
30020 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
19.10.1985 |
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Com. Reg. No.: |
02052120272 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
wholesale of other food including fish,
crustaceans and mollusc |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Italy |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Metarex SpA
Via S. Pellico 1/A
Marcon, 30020
Italy
Tel: +39 0415 952687
Fax: +39 0415 969003
Synthesis
Employees: 13
Company Type: Public Subsidiary
Corporate Family: 4 Companies
Ultimate Parent: METAFIN SPA
Incorporation Date:
19-Oct-1985
Financials in: usd (Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 86.4
Total Assets: 38.2
Business Description
Metarex SpA is primarily engaged
in wholesale of other food including fish, crustaceans and molluscs.
This class also includes: wholesale of potato products; and wholesale of feed
for pet animals.
Industry
Industry Retail (Grocery)
ANZSIC 2006: 360 - Grocery,
Liquor and Tobacco Product Wholesaling
NACE 2002: 5138 - Wholesale
of other food including fish, crustaceans and molluscs
NAICS 2002: 424460 - Fish and
Seafood Merchant Wholesalers
UK SIC 2003: 5138 - Wholesale
of other food including fish, crustaceans and molluscs
US SIC 1987: 5146 - Fish and Seafoods
Key Executives
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Name |
Title |
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Tiziano Rossi |
President |
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Massimo Rossi |
Vice president |
Registered No.(ITA): 02052120272
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
Via S. Pellico 1/A
Marcon, 30020
Italy
Tel: +39 0415 952687
Fax: +39 0415 969003
Sales EUR(mil): 62.1
Assets EUR(mil): 26.6
Employees: 13
Fiscal Year End: 31-Dec-2009
Industry: Retail
(Grocery)
Incorporation Date: 19-Oct-1985
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 02052120272
President: Tiziano Rossi
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
360 - Grocery, Liquor and Tobacco Product Wholesaling
NACE 2002 Codes:
5138 - Wholesale of other food including fish, crustaceans and molluscs
NAICS 2002 Codes:
424460 - Fish and Seafood Merchant Wholesalers
US SIC 1987:
5146 - Fish and Seafoods
UK SIC 2003:
5138 - Wholesale of other food including fish, crustaceans and molluscs
Business
Description
Metarex SpA is primarily
engaged in wholesale of other food including fish, crustaceans and molluscs. This class also includes: wholesale of potato
products; and wholesale of feed for pet animals.
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Key Corporate
Relationships
Bank: Cassa
di Risparmio di Venezia Ag, Banca Monte dei Paschi di Siena Ag, Banca Monte dei Paschi di Siena Ag
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Corporate
Family |
Corporate
Structure News: |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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METAFIN SPA |
Parent |
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Subsidiary |
Marcon, Venezia
(Venice) |
Italy |
Trucking |
4.1 |
15 |
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Subsidiary |
Marcon, Venezia
(Venice) |
Italy |
Retail (Grocery) |
86.4 |
13 |
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Subsidiary |
Marcon, Venezia
(Venice) |
Italy |
Miscellaneous Transportation |
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4 |
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Executive report
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Executives |
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President |
President |
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Vice president |
Other |
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Annual Profit & Loss
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
86.8 |
84.2 |
90.1 |
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Net sales |
86.4 |
84.1 |
89.9 |
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Other operating income |
0.4 |
0.1 |
0.2 |
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Raw materials and consumables employed |
77.6 |
73.6 |
80.1 |
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Other expenses |
6.4 |
6.9 |
5.9 |
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Total payroll costs |
0.7 |
1.2 |
2.0 |
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Fixed asset depreciation and amortisation |
0.7 |
0.6 |
0.4 |
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Other operating costs |
0.2 |
0.2 |
0.0 |
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Net operating
income |
1.3 |
1.7 |
1.7 |
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Total financial
income |
0.1 |
0.2 |
0.0 |
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Total expenses |
0.5 |
1.2 |
1.2 |
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Profit before tax |
1.0 |
0.8 |
0.6 |
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Profit after extraordinary items and
before tax |
1.0 |
0.8 |
0.6 |
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Total taxation |
0.5 |
0.6 |
0.4 |
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Net profit |
0.5 |
0.2 |
0.1 |
Annual Balance Sheet
Financials in: USD
(mil)
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
7.4 |
6.9 |
2.2 |
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Provision for pensions |
0.2 |
0.2 |
0.3 |
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Other long-term liabilities |
0.0 |
0.0 |
0.0 |
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Trade creditors |
5.5 |
4.3 |
8.6 |
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Bank loans and overdrafts |
23.9 |
24.3 |
23.6 |
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Other current liabilities |
1.3 |
1.0 |
0.6 |
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Accruals and deferred income |
0.0 |
0.1 |
0.1 |
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Total current
liabilities |
30.7 |
29.6 |
33.0 |
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Total
liabilities (including net worth) |
38.2 |
36.7 |
35.6 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Buildings |
6.3 |
6.3 |
1.6 |
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Total tangible
fixed assets |
6.5 |
6.6 |
2.1 |
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Receivables due after 1 year |
0.0 |
0.0 |
1.2 |
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Total
non-current assets |
6.6 |
6.6 |
3.4 |
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Finished goods |
7.6 |
7.5 |
8.3 |
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Net stocks and work in progress |
8.9 |
9.1 |
9.9 |
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Trade debtors |
17.2 |
17.0 |
17.7 |
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Other receivables |
0.3 |
0.1 |
0.1 |
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Cash and liquid assets |
5.3 |
3.7 |
4.5 |
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Marketable securities |
0.0 |
0.0 |
0.0 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current
assets |
31.7 |
30.0 |
32.2 |
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Total assets |
38.2 |
36.7 |
35.6 |
Annual Ratios
Financials in: USD
(mil)
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Sales per employee |
9.25 |
3.71 |
4.24 |
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Profit per employee |
0.11 |
0.03 |
0.03 |
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Average wage per employee |
0.07 |
0.05 |
0.09 |
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Net worth |
7.4 |
6.9 |
2.2 |
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Number of employees |
13 |
30 |
30 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.17 |
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UK Pound |
1 |
Rs.73.72 |
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Euro |
1 |
Rs.64.26 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.