MIRA
INFORM REPORT
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Report Date : |
10.11.2011 |
IDENTIFICATION DETAILS
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Name : |
CLIMAVENETA SPA |
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Registered Office : |
Via Sarson 57/C Bassano Del Grappa, 36061 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.05.2001 |
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Com. Reg. No.: |
02603430139 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Manufacture of non-domestic cooling and ventilation equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
Climaveneta SpA
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Business
Description
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Climaveneta 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
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2452 - Fixed Space Heating, Cooling and
Ventilation Equipment Manufacturing |
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NACE 2002: |
2923 - Manufacture of non-domestic cooling
and ventilation equipment |
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NAICS 2002: |
333415 - Air-Conditioning and Warm Air
Heating Equipment and Commercial and Industrial Refrigeration Equipment
Manufacturing |
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UK SIC 2003: |
2923 - Manufacture of non-domestic cooling
and ventilation equipment |
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US SIC 1987: |
3585 - Air-Conditioning and Warm Air
Heating Equipment and Commercial and Industrial Refrigeration Equipment |
Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News
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Climaveneta SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Treviso |
Italy |
Appliance and Tool |
2,152.7 |
7,477 |
|
|
Subsidiary |
Treviso, Treviso |
Italy |
Appliance and Tool |
602.1 |
1,122 |
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|
Subsidiary |
Bassano Del Grappa, Vicenza |
Italy |
Miscellaneous Capital Goods |
215.0 |
600 |
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Subsidiary |
Holzwickede, Nordrhein-Westfalen |
Germany |
Appliance and Tool |
|
29 |
|
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Subsidiary |
Havant |
United Kingdom |
Commercial Banks |
|
238 |
|
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Subsidiary |
Havant |
United Kingdom |
Appliance and Tool |
459.0 |
253 |
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Subsidiary |
Havant |
United Kingdom |
Commercial Banks |
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Subsidiary |
Seligenstadt |
Germany |
Retail (Specialty) |
148.1 |
60 |
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Subsidiary |
Treviso, Treviso |
Italy |
Software and Programming |
9.5 |
41 |
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Subsidiary |
Asnieres Sur Seine |
France |
Appliance and Tool |
99.7 |
30 |
Executives Report
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Swiss Walter Meier
sells Climate UK
ADP Switzerland News: 20 May 2011
[What follows is the full text of the news story.]
(ADPnews) - May
20, 2011 - Swiss climate technology firm Walter Meier (SWF:WMN) announced today
the sale of its UK cold water chillers distributor Climate UK to European
sector leader Climaveneta.
Climate UK has
some 50 employees and generated revenue of CHF 14 million (USD 15.9m/EUR 11.1m)
in 2010.
The sale has been
prompted by Walter Meier's strategy to focus on its climate wholesale business
in Switzerland, Germany and Austria and the humidification business in the
global markets.
(CHF 1.0 = USD
1.137/EUR 0.794)
Source:
ITALY,UNITED KINGDOM : Climaveneta to boost distribution network with
Walter Meier takeover
TendersInfo News
23 May 2011
|
[What follows is
the full text of the article.] Italian air
conditioning and heat pump producer Climaveneta stated that it considered the
acquisition of Walter Meier (Climate UK) as a part of its growth strategy and
a chance to aid its UK distribution network. The revelation
of the takeover recently came in wake of the recent takeover of distribution
companies in Poland and India. "This is an
excellent opportunity for us to acquire a professionally run distribution and
service company focused on our core competence of hvac and
refrigeration," stated Climaveneta CEO Carlo Grossi. "Our direct
presence in the UK will help ensure a stronger support to our long
established independent distribution partners, to increase penetration in the
UK. It will also continue to develop relationships with prestigious UK
companies, international developers, large architecture and engineering firms
with headquarters in UK who are active globally." The present
management team at Walter Meier (Climate UK) will not be affected, and will
be dealing with the operations of Climaveneta UK. Copyright 2011
Euclid Infotech Pvt. Ltd., distributed by Contify.com
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Annual Profit & Loss
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
219.3 |
166.5 |
220.5 |
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Net sales |
215.0 |
165.4 |
214.9 |
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Other operating income |
5.3 |
4.0 |
4.9 |
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Raw materials and consumables employed |
125.1 |
91.9 |
132.8 |
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Other expenses |
29.0 |
16.8 |
21.0 |
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Total payroll costs |
31.2 |
23.7 |
25.9 |
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Fixed asset depreciation and amortisation |
6.4 |
3.7 |
3.3 |
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Other operating costs |
0.7 |
0.7 |
0.4 |
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Net operating income |
26.9 |
29.7 |
37.1 |
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Total financial income |
0.2 |
3.9 |
- |
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Total expenses |
2.9 |
3.2 |
19.1 |
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Profit before tax |
24.2 |
30.4 |
18.0 |
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Profit after extraordinary items and before tax |
22.1 |
21.8 |
18.0 |
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Total taxation |
8.4 |
9.1 |
10.1 |
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Net profit |
13.7 |
12.6 |
7.9 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
88.8 |
85.9 |
77.5 |
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Provision for risks |
18.2 |
18.6 |
14.9 |
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Provision for pensions |
3.5 |
3.3 |
3.5 |
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Mortgages and loans |
30.6 |
53.3 |
72.6 |
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Other long-term liabilities |
- |
1.0 |
1.5 |
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Trade creditors |
60.3 |
42.0 |
52.1 |
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Bank loans and overdrafts |
20.6 |
22.1 |
28.3 |
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Other current liabilities |
89.6 |
90.8 |
56.3 |
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Total current liabilities |
170.6 |
154.9 |
136.8 |
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Total liabilities (including net worth) |
311.6 |
317.1 |
306.8 |
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Intangibles |
166.3 |
175.2 |
169.7 |
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Buildings |
19.5 |
20.9 |
- |
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Total tangible fixed assets |
30.3 |
27.8 |
27.7 |
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Long-term investments |
15.4 |
28.6 |
25.3 |
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Total financial assets |
15.5 |
28.6 |
25.4 |
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Receivables due after 1 year |
0.2 |
- |
- |
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Total non-current assets |
212.2 |
231.6 |
222.8 |
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Finished goods |
9.5 |
5.6 |
- |
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Net stocks and work in progress |
19.3 |
13.6 |
16.8 |
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Trade debtors |
73.5 |
42.9 |
65.3 |
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Other receivables |
6.5 |
29.0 |
2.0 |
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Cash and liquid assets |
0.0 |
0.0 |
0.0 |
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Total current assets |
99.3 |
85.6 |
84.0 |
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Total assets |
311.6 |
317.1 |
306.8 |
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Annual Ratios |
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Financials in:
USD (mil) |
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Sales per employee |
0.52 |
0.38 |
0.64 |
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Profit per employee |
0.05 |
0.05 |
0.05 |
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Average wage per employee |
0.08 |
0.06 |
0.08 |
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Net worth |
88.8 |
85.9 |
77.5 |
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Number of employees |
600 |
600 |
446 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.78 |
|
|
1 |
Rs.80.12 |
|
Euro |
1 |
Rs.68.82 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.