MIRA INFORM REPORT

 

 

Report Date :           

08.12.2011

 

IDENTIFICATION DETAILS

 

Name :

I.C.I CALDAIE SPA

 

 

Registered Office :

Via Giovanni Pascoli 38, Campagnola, Zevio, 37059

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

08.06.1958

 

 

Com. Reg. No.:

00227490232

 

 

Legal Form :

Public Subsidiary Company

 

 

Line of Business :

manufacture of refrigerating or freezing industrial equipment

 

 

No. of Employees :

146 Persons

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 & address 

 

I.C.I Caldaie SpA

Via Giovanni Pascoli 38

Campagnola

Zevio, 37059

Italy

Tel:       +39 0458 738511

Fax:      +39 0458 731148

 

 

Synthesis     

 

Employees:                  146

Company Type:            Public Subsidiary

Corporate Family:          5 Companies

Ultimate Parent:             Finluc SRL

Incorporation Date:         08-Jun-1958     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2009

Reporting Currency:       Euro

Annual Sales:               42.4

Total Assets:                 42.7

 

 

Business Description     

 

I.C.I Caldaie SpA is primarily engaged in manufacture of refrigerating or freezing industrial equipment; manufacture of air-conditioning machines; manufacture of heat exchangers; and manufacture of non-domestic fans.

 

Industry

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    2452 - Fixed Space Heating, Cooling and Ventilation Equipment Manufacturing

NACE 2002:      2923 - Manufacture of non-domestic cooling and ventilation equipment

NAICS 2002:     333415 - Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial

Refrigeration Equipment Manufacturing

UK SIC 2003:    2923 - Manufacture of non-domestic cooling and ventilation equipment

US SIC 1987:    3585 - Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial

Refrigeration Equipment

 

           


Key Executives   

 

Name

Title

Remigio Lucchini

President

Francesca Tessitore

Head of accounting department

Emanuela Lucchini

Vice president

Isabella Lucchini

Managing director

 

Registered No.(ITA): 00227490232

 

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 Giovanni Pascoli 38

Campagnola

Zevio, 37059

Italy

Tel:       +39 0458 738511

Fax:      +39 0458 731148

 

Sales EUR(mil):             30.5

Assets EUR(mil):           29.8

Employees:                   146

Fiscal Year End:            31-Dec-2009

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         08-Jun-1958

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):       00227490232

Managing director:         Isabella Lucchini

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Subsidiaries

·         Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

2452     -          Fixed Space Heating, Cooling and Ventilation Equipment Manufacturing

 

NACE 2002 Codes:

2923     -          Manufacture of non-domestic cooling and ventilation equipment

 

NAICS 2002 Codes:

333415  -          Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing

 

US SIC 1987:

3585     -          Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment

 

UK SIC 2003:

2923     -          Manufacture of non-domestic cooling and ventilation equipment

 

Business Description

I.C.I Caldaie SpA is primarily engaged in manufacture of refrigerating or freezing industrial equipment; manufacture of air-conditioning machines; manufacture of heat exchangers; and manufacture of non-domestic fans.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

30.5

Assets:

29.8

Current Assets:

23.7

 

Total Liabilities:

29.8

 

Net Worth:

6.0

 

 

 

Date of Financial Data:

31-Dec-2009

 

1 Year Growth

13.9%

NA

 

Subsidiaries

Company

Percentage Owned

Country

L.C.Z. SRL

 

Italy

Ici Caldaie Ltd

 

England

 

 

 

 

Key Corporate Relationships

Bank:

Unicredit Banca Ag, Banca Agricola Mantovana Ag, Banca Monte dei Paschi di Siena Ag

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Finluc SRL
I.C.I Caldaie SpA

I.C.I Caldaie SpA 
Total Corporate Family Members: 5 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Finluc SRL

Parent

Zevio, Verona

Italy

Commercial Banks

2.3

1

 

I.C.I Caldaie SpA

Subsidiary

Zevio, Verona

Italy

Miscellaneous Capital Goods

42.4

146

 

L.C.Z. SRL

Subsidiary

Noceto, Parma

Italy

Miscellaneous Fabricated Products

 

8

 

Verona Lamiere SpA

Subsidiary

Zevio, Verona

Italy

Construction - Supplies and Fixtures

37.8

105

 

Metalcos SRL

Subsidiary

Zevio, Verona

Italy

Construction - Supplies and Fixtures

5.3

35

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Remigio Lucchini

 

President

President

 

Simone Lucchini

 

Managing director

Managing Director

 

Isabella Lucchini

 

Managing director

Managing Director

 

Alberto Zerbinato

 

Managing director

Managing Director

 

Francesca Tessitore

 

Head of accounting department

Accounting Executive

 

Emanuela Lucchini

 

Vice president

Other

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.730637

Consolidated

No

No

No

 

 

 

 

Total income

42.4

53.7

44.3

Net sales

42.4

51.5

42.7

Other operating income

0.6

0.6

0.5

Raw materials and consumables employed

20.4

27.4

22.1

Other expenses

11.4

12.3

9.8

Total payroll costs

8.3

8.7

7.0

Fixed asset depreciation and amortisation

1.5

1.4

1.2

Other operating costs

0.2

0.2

0.4

Net operating income

0.6

3.7

3.9

Total financial income

0.0

-

0.0

Total expenses

0.6

1.0

1.0

Profit before tax

0.0

2.6

3.0

Profit after extraordinary items and before tax

-

2.5

2.5

Total taxation

0.2

1.0

1.2

Net profit

-

1.5

1.3

Net loss

0.3

-

-

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

8.6

8.6

7.5

Provision for risks

0.7

0.7

0.8

Provision for pensions

1.7

1.7

2.2

Mortgages and loans

2.9

2.2

3.1

Other long-term liabilities

2.8

0.2

0.3

Trade creditors

11.5

10.8

10.8

Bank loans and overdrafts

9.5

14.7

8.2

Other current liabilities

4.5

4.6

4.6

Accruals and deferred income

0.4

0.1

0.1

Total current liabilities

26.0

30.3

23.7

Total liabilities (including net worth)

42.7

43.7

37.6

Intangibles

2.5

2.1

1.7

Total tangible fixed assets

2.3

2.5

2.0

Long-term investments

2.1

2.0

2.1

Total financial assets

4.0

3.9

4.1

Loans to associated companies

1.9

1.9

2.0

Total non-current assets

8.7

8.5

7.8

Finished goods

5.7

6.8

6.1

Net stocks and work in progress

9.5

11.3

9.9

Trade debtors

18.3

16.1

13.1

Other receivables

5.7

7.0

5.9

Cash and liquid assets

0.3

0.6

0.8

Accruals

0.1

0.2

0.1

Total current assets

34.0

35.2

29.8

Total assets

42.7

43.7

37.6

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

Sales per employee

0.41

0.64

0.57

Profit per employee

-

0.03

0.03

Average wage per employee

0.08

0.11

0.09

Net worth

8.6

8.6

7.5

Number of employees

143

106

106

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.45

UK Pound

1

Rs.80.38

Euro

1

Rs.69.12

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.