MIRA INFORM REPORT
|
Report Date : |
07.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
WALTER TOSTO S.P.A. |
|
|
|
|
Registered Office : |
Via Colle Marino, 81 , 65100 – Pescara
(PE) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
23.09.2009 |
|
|
|
|
Legal Form : |
Joint stock company with sole shareholder |
|
|
|
|
Line of Business : |
Manufacture of machinery and equipment for the chemical, petrochemical
and petroleum industries |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
120.000 Eur |
|
Status : |
Satisfactory |
|
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 & address
Walter Tosto S.p.a.
Via Colle Marino, 81
65100 - Pescara (PE) -IT-
Summary
|
Fiscal Code |
: |
01914250681 |
|
Legal Form |
: |
Joint stock company with sole shareholder |
|
start of Activities |
: |
02/11/2009 |
|
Equity |
: |
Over 2.582.254 Eur |
|
Turnover Range |
: |
3.750.000/5.000.000 Eur |
|
Number of Employees |
: |
from 251 to 500 |
Credit Analysis
|
Credit Opinion |
: |
120.000 - Eur |
Highlights
|
Tradition and innovation lead WALTER TOSTO SpA being in continuous
growth |
|
in OilEGas, Petrochemical, Power and Energy markets. |
|
The company’s presence in the international markets has been
reinforced |
|
thanks to a 50 year experience, investments in facilities, technology,
|
|
logistics and human resources. The merging through incorporation with
Bosco |
|
Industrie Meccaniche has empowered the know-how related to the design
and |
|
manufacture of heat transfer equipment. Heavy and large items,
featuring |
|
weight exceeding 1600 tons, may be shipped directly from our workshop
located |
|
in the Ortona Port, on the Adriatic sea. WALTER TOSTO SpA is currently
|
|
working for the acquisition of the ASME N stamp and has also been
recently |
|
qualified by Fusion for Energy for the ITER project. |
|
* * * * |
|
Please take into account that the company under review took over the
activities |
|
of a previous Walter Tosto SpA (now Tosto SpA-holding compay) which
closed 2008 |
|
accounts with a turnover of abour EUR 112 mio. |
|
2010 accounts are not available yet. |
Activity
Manufacture of machinery and equipment for the chemical,petrochemical
and petroleum industries (including seperate parts and accessories
Legal Data
Legal Form : Joint stock company with sole shareholder
|
Fiscal Code : 01914250681 |
|
Chamber of Commerce no. : 167827 of Chieti |
|
Chamber of Commerce no. : 138507 of Pescara since 24/09/2009 |
|
V.A.T. Code : 01914250681 |
|
Establishment date |
: 23/09/2009 |
|
|
Start of Activities |
: 02/11/2009 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 13.000.000 |
Eur |
|
Subscribed Capital |
: 13.000.000 |
Eur |
|
Paid up Capital |
: 13.000.000 |
Eur |
Members
|
|
Tosto |
Walter |
|
|
|
Born in Pescara |
(PE) |
on 07/08/1939 |
- Fiscal Code : TSTWTR39M07G482W |
|
|
|
Residence : |
Strada |
Colle Marino |
, 81 |
- 65125 |
Pescara |
(PE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/03/2011 |
|
|
|
|
No Protests registered |
|
|
Tosto |
Luca |
|
|
|
Born in Pescara |
(PE) |
on 09/11/1971 |
- Fiscal Code : TSTLCU71S09G482F |
|
|
|
Residence : |
Via |
Di Sotto |
, 115 |
- 65125 |
Pescara |
(PE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
23/09/2009 |
|
|
|
|
No Protests registered |
|
|
Tosto |
Emanuela |
|
|
|
Born in Pescara |
(PE) |
on 01/02/1974 |
- Fiscal Code : TSTMNL74B41G482M |
|
|
|
Residence : |
Via |
Di Sotto |
, 115 |
- 65125 |
Pescara |
(PE) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Procurator |
28/03/2011 |
|
|
|
|
No Protests registered |
Companies connected to members *
*checkings have been performed on a national scale.
In this module are listed the companies in which members hold or have
holded positions.
|
|
TOSTO |
WALTER |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
COMMER TOSTO DI TOSTO WALTER |
Pescara (PE) - IT - |
TSTWTR39M07G482W |
Proprietor |
Withdrawn |
Ceased |
|
CONSORZIO COSTRUTTORI, MANUTENTORI ED INSTALLATORI IMPIANTI PRODUTTIVI
|
Ortona (CH) - IT - |
01834060699 |
Managing
Director |
Withdrawn |
Registered |
|
CONSORZIO COSTRUTTORI, MANUTENTORI ED INSTALLATORI IMPIANTI PRODUTTIVI
|
Ortona (CH) - IT - |
01834060699 |
Liquidator |
Active |
Registered |
|
CONSORZIO COSTRUTTORI, MANUTENTORI ED INSTALLATORI IMPIANTI PRODUTTIVI
|
Ortona (CH) - IT - |
01834060699 |
Board Chairman |
Withdrawn |
Registered |
|
TOSTO S.P.A. |
Pescara (PE) - IT - |
00405130683 |
Director |
Active |
Registered |
|
TOSTO S.P.A. |
Pescara (PE) - IT - |
00405130683 |
Board Chairman |
Active |
Registered |
|
TOSTO WALTER |
Pescara (PE) - IT - |
TSTWTR39M07G482W |
Proprietor |
Withdrawn |
Ceased |
|
WTS GAS S.P.A. |
Pescara (PE) - IT - |
01833290685 |
Sole Director |
Active |
Registered |
|
WTS IMMOBILIARE S.R.L. |
Pescara (PE) - IT - |
01614060687 |
Director |
Active |
Registered |
|
WTS IMMOBILIARE S.R.L. |
Pescara (PE) - IT - |
01614060687 |
Partner |
Withdrawn |
Registered |
|
WTS-WALTER TOSTO - SERBATOI |
Pescara (PE) - IT - |
|
Proprietor |
Withdrawn |
Ceased |
|
|
TOSTO |
LUCA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
BOSCO INDUSTRIE MECCANICHE S.P.A. |
Chieti (CH) - IT - |
01596190692 |
Sole Director |
Withdrawn |
Ceased |
|
CONSORZIO COSTRUTTORI, MANUTENTORI ED INSTALLATORI IMPIANTI PRODUTTIVI
|
Ortona (CH) - IT - |
01834060699 |
Managing
Director |
Withdrawn |
Registered |
|
CONSORZIO COSTRUTTORI, MANUTENTORI ED INSTALLATORI IMPIANTI PRODUTTIVI
|
Ortona (CH) - IT - |
01834060699 |
Director |
Withdrawn |
Registered |
|
ITALIAN EQUIPMENT FABRICATORS S.C.R.L. |
Lonate Ceppino (VA) - IT - |
03173020128 |
Director |
Active |
Registered |
|
PARCO SCIENTIFICO E TECNOLOGICO D'ABRUZZO - S.P.A. |
L'Aquila (AQ) - IT - |
01323880664 |
Director |
Active |
Registered |
|
TOSTO S.P.A. |
Pescara (PE) - IT - |
00405130683 |
Managing
Director |
Active |
Registered |
|
TOSTO S.P.A. |
Pescara (PE) - IT - |
00405130683 |
Director |
Active |
Registered |
|
WTS GAS S.P.A. |
Pescara (PE) - IT - |
01833290685 |
Sole Director |
Withdrawn |
Registered |
|
WTS GAS S.P.A. |
Pescara (PE) - IT - |
01833290685 |
Procurator |
Active |
Registered |
|
WTS IMMOBILIARE S.R.L. |
Pescara (PE) - IT - |
01614060687 |
Director |
Active |
Registered |
|
WTS IMMOBILIARE S.R.L. |
Pescara (PE) - IT - |
01614060687 |
Partner of
unlimit. partnership |
Withdrawn |
Registered |
|
|
TOSTO |
EMANUELA |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
PETROLGAS S.R.L. |
Giugliano in Campania (NA) - IT - |
07713790637 |
Director |
Active |
Registered |
|
TOSTO S.P.A. |
Pescara (PE) - IT - |
00405130683 |
Director |
Active |
Registered |
The indication "REGISTERED" as Firm Status could refer to Firms
in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise to request further
investigations.
Capital Shareholders
Shareholders' list as at date of data collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Tosto S.p.a. |
Pescara - IT - |
00405130683 |
13.000.000 .Eur |
100,00 |
Direct Participations
The Company under review has no participations in other Companies.
Firm's location and structure
In order to carry out its activities the firm uses the following
locations:
|
- |
Registered office |
|
|
|
|
|
Via |
Colle Marino |
, 81 |
- 65100 |
- Pescara |
(PE) |
- IT - |
|
- |
Branch |
(Administrative office ) |
since 28/09/2009 |
|
|
|
|
|
Via |
Erasmo Piaggio |
, 62 Loc. SCALO |
- 66100 |
- Chieti |
(CH) |
- IT - |
|
- |
Branch |
(Factory ) |
since 02/11/2009 |
|
|
|
|
|
Via |
Grandi |
, 28 Loc. SCALO |
- 66100 |
- Chieti |
(CH) |
- IT - |
|
- |
Branch |
(Factory ) |
since 02/11/2009 |
|
|
|
|
|
Via |
Grandi |
, SN Loc. SCALO |
- 66100 |
- Chieti |
(CH) |
- IT - |
|
- |
Branch |
(Factory ) |
since 02/11/2009 |
|
|
|
|
|
Via |
Del Porto |
, 6 |
- 66026 |
- Ortona |
(CH) |
- IT - |
|
- |
Branch |
(Factory ) |
since 02/11/2009 |
|
|
|
|
|
Via |
E. Piaggio |
, 72 Loc. Scalo |
- 66100 |
- Chieti |
(CH) |
- IT - |
|
|
|
|
Trading Style: WALTER TOSTO S.P.A. |
|
|
|
|
PHONE |
: 0871/5801 |
|
|
|
|
PHONE |
: 0871/564101 |
|
- |
Branch |
(Factory ) |
since 02/11/2009 |
|
|
|
|
|
Via |
E. Piaggio |
, 26 Loc. SCALO |
- 66100 |
- Chieti |
(CH) |
- IT - |
|
- |
Branch |
(Factory ) |
since 02/11/2009 |
|
|
|
|
|
Via |
E. Piaggio |
, 54 Loc. SCALO |
- 66100 |
- Chieti |
(CH) |
- IT - |
|
|
|
|
Employees |
: 298 |
|
Fittings and Equipment for a value of 13.280.000 |
Eur |
|
Stocks for a value of 27.160.000 |
Eur |
|
|
Historical Information and/or Firm's Status
CEASINGS/INCORPORATIONS/MERGES:
|
|
The firm succeeded to |
|
|
|
|
|
|
|
Via |
Colle Marino |
, 81 |
, 65125 |
, Pescara |
(PE) |
- IT - |
|
|
|
Fiscal Code: 00405130683 |
|
|
|
Date |
: |
02/11/2009 |
Protests
Protests checking on the subject firm has given a negative result.
Legal Procedures
None reported, standing to the latest received edition of the Official
Publications.
Financial and Economical Analysis
The company has been recently established.
The economic-financial analysis is based on the b/s of the year 2009.
A positive economic result was achieved with a r.o.e. 0,82%.
The operating result was positive (0,1%). falling within the field's
average.
The operating result amounts to Eur. 76.993.
It is equal to Eur. 829.896 the value of G.O.M.
Company's financial status is balanced since indebtedness is not high
(2,36)
The equity capital is of Eur. 13.691.725.
Financial indebdtedness is under control whereas debts to suppliers are
frequent even in comparison with the sector's.
Liquid assets are good.
Trade credits are collected slowly, average term is 1278,95 days.
besides being higher than the sector's average.
2009 closed with a cash flow amounting to 2009
During 2009 financial year labour costs amounted to Eur. 2.670.747, with
a 34,03% incidence on production costs. , with a 71,13% incidence on turnover.
Financial incomes cover financial charges.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1 ) |
|
Item Type |
Value |
|
Sales |
3.754.992 |
|
Profit (Loss) for the period |
112.500 |
Balance Sheets
From our constant monitoring of the relevant Public Administration
offices, no more recent balance sheets result to have been filed.
|
- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: Eur - Amounts x
1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2009 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
Rigidity Ratio |
Units |
0,23 |
0,13 |
|
Elasticity Ratio |
Units |
0,77 |
0,84 |
|
Availability of stock |
Units |
0,36 |
0,19 |
|
Total Liquidity Ratio |
Units |
0,41 |
0,60 |
|
Quick Ratio |
Units |
0,18 |
0,04 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
Net Short-term indebtedness |
Units |
2,36 |
3,26 |
|
Self Financing Ratio |
Units |
0,18 |
0,18 |
|
Capital protection Ratio |
Units |
0,04 |
0,58 |
|
Liabilities consolidation quotient |
Units |
0,31 |
0,16 |
|
Financing |
Units |
4,22 |
4,02 |
|
Permanent Indebtedness Ratio |
Units |
0,37 |
0,33 |
|
M/L term Debts Ratio |
Units |
0,19 |
0,09 |
|
Net Financial Indebtedness Ratio |
Units |
0,12 |
0,44 |
|
CORRELATION |
|
|
|
|
Fixed assets ratio |
Units |
1,65 |
2,08 |
|
Current ratio |
Units |
1,26 |
1,23 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,66 |
0,94 |
|
Structure's primary quotient |
Units |
0,81 |
1,18 |
|
Treasury's primary quotient |
Units |
0,29 |
0,07 |
|
Rate of indebtedness ( Leverage ) |
% |
544,60 |
550,96 |
|
Current Capital ( net ) |
Value |
11.795.976 |
343.588 |
|
RETURN |
|
|
|
|
Return on Sales (R.O.S.) |
% |
23,05 |
3,93 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
0,82 |
9,82 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
2,18 |
30,22 |
|
Return on Investment ( R.O.I. ) |
% |
0,10 |
6,17 |
|
Return/ Sales |
% |
2,05 |
5,29 |
|
Extra Management revenues/charges incid. |
% |
146,12 |
29,80 |
|
Cash Flow |
Value |
865.403 |
125.241 |
|
Operating Profit |
Value |
76.993 |
166.819 |
|
Gross Operating Margin |
Value |
829.896 |
254.305 |
|
MANAGEMENT |
|
|
|
|
Credits to clients average term |
Days |
1.278,95 |
128,37 |
|
Debts to suppliers average term |
Days |
678,66 |
150,11 |
|
Average stock waiting period |
Days |
2.603,45 |
54,03 |
|
Rate of capital employed return ( Turnover ) |
Units |
0,05 |
1,25 |
|
Rate of stock return |
Units |
0,14 |
6,62 |
|
Labour cost incidence |
% |
71,13 |
18,06 |
|
Net financial revenues/charges incidence |
% |
3,41 |
- 0,88 |
|
Labour cost on purchasing expenses |
% |
34,03 |
18,63 |
|
Short-term financing charges |
% |
n.c. |
2,15 |
|
Capital on hand |
% |
1.985,75 |
79,60 |
|
Sales pro employee |
Value |
12.271 |
206.728 |
|
Labour cost pro employee |
Value |
8.727 |
35.507 |
Credit Opinion
On the basis of the above mentioned, and the sales volume obtained, we
deem that the maximum exposure for short and medium term transactions ( 90 -
120 days ) could be of:
120.000 Eur.
Market / Territory Data
|
Population living in the province |
: |
307.974 |
|
Population living in the region |
: |
1.299.272 |
|
Number of families in the region |
: |
479.313 |
Monthly family expenses average in the region (in Eur.) :
|
- per food products |
: |
448 |
|
- per non food products |
: |
1.525 |
|
- per energy consume |
: |
106 |
Sector Data
The values are calculated on a base of 1.964 significant companies.
The companies cash their credits on an average of 128 dd.
The average duration of suppliers debts is about 150 dd.
The sector's profitability is on an average of 3,93%.
The labour cost affects the turnover in the measure of 18,06%.
Goods are held in stock in a range of 54 dd.
The difference between the sales volume and the resources used to
realize it is about 1,25.
The employees costs represent the 18,63% of the production costs.
Statistical Detrimental Data
The area is statistically considered remarkably risky.
In the region 11.587 protested subjects are found; in the province they
count to 2.682.
The insolvency index for the region is 0,90, , while for the province it
is 0,88.
Total Bankrupt companies in the province : 1.518.
Total Bankrupt companies in the region : 5.123.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
UK Pound |
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.65.47 |
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.