MIRA
INFORM REPORT
|
Report Date : |
30.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SOCIM SPA |
|
|
|
|
Registered Office : |
Via Tovini 72/74 Bagnolo Mella, 25021 |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
08.10.1992 |
|
|
|
|
Com. Reg. No.: |
03204310175 |
|
|
|
|
Legal Form : |
Public Independent |
|
|
|
|
Line of Business : |
Wholesale of other household goods |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
Socim SpA
|
|
|
||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
Socim SpA is primarily engaged in wholesale of furniture; wholesale of
jewellery; wholesale of musical instruments; wholesale of photographic goods;
wholesale of toys and games; wholesale of travel and fancy goods; and
wholesale of other household goods not elsewhere classified. |
Industry
|
Industry |
Miscellaneous Capital Goods |
|
ANZSIC 2006: |
3739 - Other Goods Wholesaling Not
Elsewhere Classified |
|
NACE 2002: |
5147 - Wholesale of other household goods |
|
NAICS 2002: |
4232 - Furniture and Home Furnishing
Merchant Wholesalers |
|
UK SIC 2003: |
5147 - Wholesale of other household goods |
|
US SIC 1987: |
5047 - Medical, Dental, and Hospital
Equipment and Supplies |
Key
Executives
|
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Executives Report
|
|
|
|
|
|
|
|
|
||
|
|
||
|
|
||
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
31.2 |
33.1 |
44.1 |
|
Net sales |
30.9 |
32.7 |
43.7 |
|
Other operating income |
0.3 |
0.4 |
0.4 |
|
Raw materials and consumables employed |
20.7 |
22.2 |
25.0 |
|
Other expenses |
6.5 |
7.1 |
11.9 |
|
Total payroll costs |
2.0 |
2.1 |
2.4 |
|
Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.2 |
|
Other operating costs |
0.4 |
0.2 |
0.2 |
|
Net operating income |
1.4 |
1.2 |
4.3 |
|
Total financial income |
- |
0.2 |
- |
|
Total expenses |
0.5 |
1.2 |
1.7 |
|
Profit before tax |
0.9 |
0.2 |
0.9 |
|
Extraordinary result |
- |
0.0 |
- |
|
Profit after extraordinary items and before tax |
0.7 |
0.2 |
0.2 |
|
Total taxation |
0.3 |
0.2 |
0.4 |
|
Net profit |
0.3 |
0.0 |
- |
|
Net loss |
- |
- |
0.1 |
|
|
|
Annual Balance
Sheet |
|
Financials in: USD
(mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total stockholders equity |
6.9 |
7.0 |
6.8 |
|
Provision for pensions |
0.5 |
0.4 |
0.3 |
|
Mortgages and loans |
4.9 |
7.7 |
5.5 |
|
Other long-term liabilities |
1.0 |
- |
- |
|
Trade creditors |
3.5 |
5.3 |
8.5 |
|
Bank loans and overdrafts |
15.4 |
19.5 |
30.6 |
|
Other current liabilities |
4.9 |
5.4 |
3.2 |
|
Accruals and deferred income |
0.1 |
0.1 |
0.1 |
|
Total current liabilities |
23.9 |
30.3 |
42.3 |
|
Total liabilities (including net worth) |
37.1 |
45.4 |
55.0 |
|
Intangibles |
0.1 |
0.1 |
0.1 |
|
Buildings |
3.5 |
3.8 |
3.6 |
|
Total tangible fixed assets |
4.1 |
4.6 |
3.9 |
|
Long-term investments |
0.0 |
0.0 |
0.0 |
|
Total financial assets |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
4.2 |
4.7 |
4.0 |
|
Finished goods |
12.4 |
19.8 |
24.4 |
|
Net stocks and work in progress |
12.4 |
19.8 |
24.9 |
|
Trade debtors |
19.8 |
19.7 |
23.7 |
|
Other receivables |
0.3 |
0.5 |
1.4 |
|
Cash and liquid assets |
0.3 |
0.1 |
0.0 |
|
Accruals |
0.2 |
0.5 |
1.0 |
|
Total current assets |
32.9 |
40.7 |
51.0 |
|
Total assets |
37.1 |
45.4 |
55.0 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Sales per employee |
1.10 |
1.03 |
1.44 |
|
Profit per employee |
0.02 |
0.01 |
0.01 |
|
Average wage per employee |
0.07 |
0.07 |
0.08 |
|
Net worth |
6.9 |
7.0 |
6.8 |
|
Number of employees |
41 |
44 |
40 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.87 |
|
|
1 |
Rs.75.14 |
|
Euro |
1 |
Rs.66.68 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.