MIRA INFORM REPORT

 

 

Report Date :           

17.12.2011

 

IDENTIFICATION DETAILS

 

Name :

ZHERMACK SPA

 

 

Registered Office :

Via Bovazecchino 100, Badia Polesine, 45021

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

03.11.1981

 

 

Com. Reg. No.:

00594630295

 

 

Legal Form :

Public Subsidiary Company

 

 

Line of Business :

manufacture of instruments and appliances used for medical, surgical, dental or veterinary purposes

 

 

No. of Employees :

214 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 

 

Zhermack SpA

Via Bovazecchino 100

Badia Polesine, 45021

Italy

Tel:       +39 0425 597611

Fax:      +39 0425 53596

Web:    www.zhermack.com

 

 

Synthesis

 

Employees:                   214

Company Type:            Public Subsidiary

Corporate Family:          3 Companies

Ultimate Parent:             Dentsply Germany Investments GmbH

Incorporation Date:         03-Nov-1981     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2009

Reporting Currency:       Euro

Annual Sales:               56.8

Total Assets:                76.6

 

 

Business Description     

 

Zhermack SpA is primarily engaged in manufacture of instruments and appliances used for medical, surgical, dental or veterinary purposes (electro-diagnostic apparatus such as electrocardiographs, ultrasonic diagnostic equipment, scintillation scanners, nuclear magnetic resonance apparatus, dental drill engines, sterilizers, ophthalmic instruments); manufacture of syringes, needles used in medicine, mirrors, reflectors, endoscopes, etc.; manufacture of apparatus based on the use of X-rays or alpha, beta or gamma radiation whether ornot for use in human or animal medicine (X-ray tubes, high tension generators, control panels, desks, screens, etc.); manufacture of medical, surgical, dental or veterinary furniture (operating tables, hospital beds with mechanical fittings, dentists’ chairs); and manufacture of mechano-therapy appliances, massage apparatus, psychological testing apparatus, ozone therapy, oxygen therapy, artificial respiration apparatus, gas masks, etc. This class also includes: manufacture of orthopaedic appliances (crutches, surgical belts and trusses, splints, artificial teeth, artificial limbs and other artificial parts of the body, hearing aids, pace-makers, orthopaedic shoes, etc.).

 

Industry

Industry            Medical Equipment and Supplies

ANZSIC 2006:    2412 - Medical and Surgical Equipment Manufacturing

NACE 2002:      3310 - Manufacture of medical and surgical equipment and orthopaedic appliances

NAICS 2002:     33911 - Medical Equipment and Supplies Manufacturing

UK SIC 2003:    3310 - Manufacture of medical and surgical equipment and orthopaedic appliances

US SIC 1987:    3843 - Dental Equipment and Supplies

 

           

Key Executives   

 

Name

Title

Tiziano Busin

Presidente e Amministratore Delegato

Massimo Agliata

Direttore-Finanza

Vittorio Mora

Responsabile-Commerciale

Rudolf Lehner

Member of the board

Robert J. Size

Member of the board

 

Registered No.(ITA): 00594630295

 

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 Bovazecchino 100

Badia Polesine, 45021

Italy

Tel:       +39 0425 597611

Fax:      +39 0425 53596

Web:    www.zhermack.com

           

Sales EUR(mil):             40.9

Assets EUR(mil):           53.4

Employees:                   214

Fiscal Year End:            31-Dec-2009

Industry:                        Medical Equipment and Supplies

Incorporation Date:         03-Nov-1981

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):       00594630295

Presidente e

Amministratore Delegato:           Tiziano Busin

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2412     -          Medical and Surgical Equipment Manufacturing

 

NACE 2002 Codes:

3310     -          Manufacture of medical and surgical equipment and orthopaedic appliances

 

NAICS 2002 Codes:

33911   -          Medical Equipment and Supplies Manufacturing

 

US SIC 1987:

3843     -          Dental Equipment and Supplies

 

UK SIC 2003:

3310     -          Manufacture of medical and surgical equipment and orthopaedic appliances

 

Business Description

Zhermack SpA is primarily engaged in manufacture of instruments and appliances used for medical, surgical, dental or veterinary purposes (electro-diagnostic apparatus such as electrocardiographs, ultrasonic diagnostic equipment, scintillation scanners, nuclear magnetic resonance apparatus, dental drill engines, sterilizers, ophthalmic instruments); manufacture of syringes, needles used in medicine, mirrors, reflectors, endoscopes, etc.; manufacture of apparatus based on the use of X-rays or alpha, beta or gamma radiation whether ornot for use in human or animal medicine (X-ray tubes, high tension generators, control panels, desks, screens, etc.); manufacture of medical, surgical, dental or veterinary furniture (operating tables, hospital beds with mechanical fittings, dentists’ chairs); and manufacture of mechano-therapy appliances, massage apparatus, psychological testing apparatus, ozone therapy, oxygen therapy, artificial respiration apparatus, gas masks, etc. This class also includes: manufacture of orthopaedic appliances (crutches, surgical belts and trusses, splints, artificial teeth, artificial limbs and other artificial parts of the body, hearing aids, pace-makers, orthopaedic shoes, etc.).

 

More Business Descriptions

Medical Equipment and Supplies Manufacturing

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

40.9

Assets:

53.4

Current Assets:

27.3

 

Total Liabilities:

53.4

 

Net Worth:

2.4

 

 

 

Date of Financial Data:

31-Dec-2009

 

1 Year Growth

18.6%

NA

 

Key Corporate Relationships

Bank:

Intesa Sanpaolo ag, Intesa Sanpaolo ag, Cassa di Risparmio di Padova e di Rovigo ag

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Dentsply Germany Investments GmbH
Zhermack SpA

Zhermack SpA 
Total Corporate Family Members: 3 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Dentsply Germany Investments GmbH

Parent

Mannheim, Baden-Württemberg

Germany

Consumer Financial Services

 

 

Zhermack SpA

Subsidiary

Badia Polesine, Rovigo

Italy

Medical Equipment and Supplies

56.8

214

Dentsply Lomberg B.V.

Subsidiary

Soest, Utrecht

Netherlands

Miscellaneous Capital Goods

 

20

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Tiziano Busin

 

Presidente e Amministratore Delegato

Director/Board Member

 

Rudolf Lehner

 

Member of the board

Director/Board Member

 

Robert J. Size

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Tiziano Busin

 

Presidente e Amministratore Delegato

Chief Executive Officer

 

Massimo Agliata

 

Direttore-Finanza

Finance Executive

 

Manuela Campesana

 

Sales manager

Sales Executive

 

Vittorio Mora

 

Responsabile-Commerciale

Sales Executive

 

Barbara Maragni

 

Marketing manager

Marketing Executive

 

 

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

58.4

60.6

52.1

Net sales

56.8

59.2

50.0

Other operating income

1.5

1.1

1.2

Raw materials and consumables employed

25.7

27.2

23.2

Other expenses

12.7

14.5

12.6

Total payroll costs

12.9

12.4

9.8

Fixed asset depreciation and amortisation

3.9

3.8

2.9

Other operating costs

0.2

0.2

0.3

Net operating income

3.1

2.4

3.4

Total expenses

1.9

3.1

1.6

Profit before tax

1.1

-

1.8

Extraordinary result

0.8

-

-

Profit after extraordinary items and before tax

1.9

-

1.5

Total taxation

1.1

-

1.2

Net profit

0.7

-

0.3

Net loss

-

15.5

-

 

 

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

3.5

2.6

19.0

Provision for risks

9.1

11.7

11.7

Provision for pensions

1.7

1.8

1.8

Mortgages and loans

4.7

7.9

9.0

Other long-term liabilities

31.4

16.7

-

Trade creditors

9.7

10.3

9.9

Bank loans and overdrafts

11.4

20.4

32.4

Other current liabilities

4.9

5.3

2.5

Accruals and deferred income

0.3

0.3

0.2

Total current liabilities

26.3

36.4

45.0

Total liabilities (including net worth)

76.6

77.1

86.5

Intangibles

17.2

18.1

32.5

Buildings

3.5

3.3

3.8

Total tangible fixed assets

15.6

15.9

16.5

Long-term investments

2.4

2.3

0.7

Total financial assets

3.7

3.5

2.1

Receivables due after 1 year

0.9

0.1

0.5

Loans to associated companies

1.1

1.0

1.0

Total non-current assets

37.4

37.6

51.6

Finished goods

5.7

5.4

5.5

Net stocks and work in progress

12.0

11.6

12.1

Trade debtors

15.7

14.7

13.9

Other receivables

7.2

10.0

7.7

Cash and liquid assets

3.4

2.2

0.5

Accruals

0.9

1.0

0.7

Total current assets

39.2

39.5

34.8

Total assets

76.6

77.1

86.5

 

 

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

0.39

0.39

0.35

Profit per employee

0.01

-

0.01

Average wage per employee

0.09

0.08

0.07

Net worth

3.5

2.6

19.0

Number of employees

201

201

201

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.81

UK Pound

1

Rs.82.00

Euro

1

Rs.68.81

 

 

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.