MIRA INFORM REPORT
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Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
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Name : |
COTONIFICIO HONEGGER SPA |
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Registered Office : |
Via Guglielmo Marconi 51, Albino, 24021 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
18.09.1991 |
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Com. Reg. No.: |
02112890161 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Apparel and Accessories |
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 : |
Unknown |
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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
Cotonificio Honegger SpA
Via Guglielmo Marconi 51
Albino, 24021
Italy
Tel: +39 0357 51004
Fax: +39 0357 55165
Web: www.valxer.it
Synthesis
Employees: 428
Company Type: Public Subsidiary
Corporate Family: 4
Companies
Registered No.(ITA): 02112890161
Ultimate Parent: Zambaiti Parati SpA
Incorporation Date:
18-Sep-1991
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2008
Reporting Currency: Euro
Annual Sales: 57.6
Total Assets: 127.6
Business Description
Cotonificio
Honegger SpA is primarily engaged in preparatory operations on cotton-type
fibres, carding and combing; and manufacture of cotton-type yarn, either with
cotton or artificial or synthetic fibres, for weaving, knitting, etc.
Industry
Industry Apparel and Accessories
ANZSIC 2006: 1312 - Natural
Textile Manufacturing
NACE 2002: 1711 - Preparation
and spinning of cotton-type fibres
NAICS 2002: 313111 - Yarn
Spinning Mills
UK SIC 2003: 1711 - Preparation
and spinning of cotton-type fibres
US SIC 1987: 2211 - Broadwoven
Fabric Mills, Cotton
Key Executives
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Name |
Title |
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Giancarlo Zambaiti |
Amministratore Delegato |
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Pietro Zambaiti |
Presidente |
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Sergio Rikabi |
Responsabile-Vendite |
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Fabrizio Conti |
Direttore-Amministrativo |
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Tommaso Preziosa |
Responsabile-Sistemi Informativi |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.6836792
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7193986
Corporate Overview
Location
Via Guglielmo Marconi 51
Albino, 24021
Italy
Tel: +39 0357 51004
Fax: +39 0357 55165
Web: www.valxer.it
Sales EUR(mil): 39.4
Assets EUR(mil): 91.8
Employees: 428
Fiscal Year End: 31-Dec-2008
Industry: Apparel and Accessories
Incorporation Date: 18-Sep-1991
Company Type: Public Subsidiary
Quoted Status: Not Quoted
Registered No.(ITA): 02112890161
Amministratore
Delegato: Giancarlo Zambaiti
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1312 - Natural Textile Manufacturing
NACE 2002 Codes:
1711 - Preparation and spinning of cotton-type fibres
NAICS 2002 Codes:
313111 - Yarn Spinning Mills
US SIC 1987:
2211 - Broadwoven Fabric Mills, Cotton
UK SIC 2003:
1711 - Preparation and spinning of cotton-type fibres
Business
Description
Cotonificio Honegger SpA is primarily engaged in preparatory operations
on cotton-type fibres, carding and combing; and manufacture of cotton-type
yarn, either with cotton or artificial or synthetic fibres, for weaving,
knitting, etc.
More Business
Descriptions
Fiber, Yarn, and Thread Mills
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Key Corporate
Relationships
Bank: Banca Nazionale del Lavoro
Ag, Banca Popolare di Bergamo Ag, Intesa Sanpaolo Ag
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 4 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Albino, Bergamo |
Italy |
Paper and Paper Products |
71.5 |
170 |
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Subsidiary |
Cene, Bergamo |
Italy |
Apparel and Accessories |
1.0 |
183 |
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Subsidiary |
Albino, Bergamo |
Italy |
Apparel and Accessories |
57.6 |
428 |
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Subsidiary |
Cinisello Balsamo, Milano (Milan) |
Italy |
Miscellaneous Capital Goods |
1.7 |
9 |
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Executive report
Board of Directors
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Amministratore Delegato |
Director/Board Member |
Executive
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Amministratore Delegato |
Chief Executive Officer |
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Presidente |
President |
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Direttore-Amministrativo |
Administration Executive |
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Segretaria |
Company Secretary |
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Responsabile-Risorse Umane |
Human Resources Executive |
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Responsabile-Vendite |
Sales Executive |
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Responsabile-Sistemi Informativi |
Information Executive |
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Commercial manager |
Commercial Executive |
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 |
38.8 |
55.8 |
66.9 |
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Net sales |
37.0 |
57.6 |
60.9 |
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Other operating income |
2.0 |
3.0 |
4.3 |
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Raw materials and consumables employed |
18.5 |
30.6 |
22.5 |
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Other expenses |
14.3 |
20.7 |
26.9 |
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Total payroll costs |
12.8 |
19.4 |
20.7 |
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Fixed asset depreciation and amortisation |
2.6 |
10.1 |
3.5 |
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Other operating costs |
0.8 |
0.8 |
0.8 |
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Total financial
income |
- |
- |
0.2 |
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Total expenses |
1.6 |
4.7 |
3.9 |
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Extraordinary result |
13.6 |
- |
- |
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Profit after extraordinary items and
before tax |
1.8 |
- |
- |
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Total taxation |
1.0 |
- |
- |
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Net profit |
0.7 |
- |
- |
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Net loss |
- |
31.3 |
17.0 |
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 |
16.8 |
15.6 |
3.1 |
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Provision for risks |
14.5 |
13.2 |
3.5 |
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Provision for pensions |
6.8 |
7.0 |
8.3 |
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Mortgages and loans |
45.4 |
44.0 |
28.9 |
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Other long-term liabilities |
0.9 |
1.6 |
12.1 |
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Trade creditors |
7.7 |
12.4 |
14.6 |
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Bank loans and overdrafts |
13.4 |
20.6 |
40.6 |
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Other current liabilities |
17.1 |
12.9 |
11.1 |
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Accruals and deferred income |
0.1 |
0.2 |
1.1 |
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Total current
liabilities |
38.2 |
46.2 |
67.5 |
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Total
liabilities (including net worth) |
122.7 |
127.6 |
123.3 |
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Intangibles |
0.4 |
0.6 |
0.7 |
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Buildings |
40.9 |
40.1 |
8.7 |
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Total tangible
fixed assets |
44.1 |
45.1 |
18.8 |
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Long-term investments |
13.0 |
12.7 |
16.0 |
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Total financial
assets |
13.0 |
12.7 |
16.6 |
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Receivables due after 1 year |
0.1 |
0.1 |
0.5 |
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Loans to associated companies |
- |
- |
0.6 |
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Total
non-current assets |
57.6 |
58.4 |
36.6 |
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Finished goods |
17.3 |
16.9 |
22.7 |
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Net stocks and work in progress |
19.5 |
21.3 |
33.0 |
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Trade debtors |
20.8 |
25.3 |
31.5 |
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Other receivables |
16.8 |
14.8 |
13.3 |
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Owing from participants |
- |
0.2 |
- |
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Cash and liquid assets |
3.2 |
2.8 |
3.3 |
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Marketable securities |
3.5 |
3.4 |
3.6 |
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Accruals |
1.2 |
1.4 |
1.9 |
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Total current
assets |
65.1 |
69.3 |
86.6 |
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Total assets |
122.7 |
127.6 |
123.3 |
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 |
0.12 |
0.17 |
0.19 |
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Profit per employee |
0.01 |
- |
- |
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Average wage per employee |
0.04 |
0.06 |
0.06 |
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Net worth |
16.8 |
15.6 |
3.1 |
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Number of employees |
420 |
453 |
460 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.16 |
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UK Pound |
1 |
Rs.72.10 |
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Euro |
1 |
Rs.63.10 |
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.