MIRA INFORM REPORT
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Report Date : |
22.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ARTSANA SUD SPA |
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Registered Office : |
Contrada Cucullo 11, Ortona, 66026 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.09.1989 |
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Com. Reg. No.: |
01251280689 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacture of household
and personal hygiene paper and cellulose wadding product |
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 30th, 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 & address
Artsana Sud SpA
Contrada Cucullo 11
Ortona, 66026
Italy
Tel: +39 0859 03341
Fax: +39 0859 0334243
Synthesis
Employees: 174
Company Type: Public Subsidiary
Corporate Family: 7
Companies
Ultimate Parent: Artsana
SpA
Incorporation Date:
23-Sep-1989
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 151.1
Total Assets: 105.0
Business Description
Artsana Sud SpA is
primarily engaged in manufacture of household and personal hygiene paper and
cellulose wadding products: manufacture of cleansing tissues; manufacture of
handkerchiefs, towels, serviettes; manufacture of toilet paper; manufacture of
sanitary towels and tampons, napkins and napkin liners for babies; and
manufacture of cups, dishes and trays.
Industry
Industry Personal and Household Products
ANZSIC 2006: 1524 - Sanitary
Paper Product Manufacturing
NACE 2002: 2122 - Manufacture
of household and sanitary goods and of toilet requisites
NAICS 2002: 322291 - Sanitary
Paper Product Manufacturing
UK SIC 2003: 2122 - Manufacture
of household and sanitary goods and of toilet requisites
US SIC 1987: 2676 - Sanitary
Paper Products
Key Executives
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Name |
Title |
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Michele Catelli |
President |
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Camillo Marra |
Executive |
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Francesca Catelli |
Member of the board |
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Enrico Catelli |
Member of the board |
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Mario Merlo |
Managing director |
Registered No.(ITA): 01251280689
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
Location
Contrada Cucullo 11
Ortona, 66026
Italy
Tel: +39 0859 03341
Fax: +39 0859 0334243
Sales EUR(mil): 114.1
Assets EUR(mil): 78.3
Employees: 174
Fiscal Year End: 31-Dec-2010
Industry: Personal
and Household Products
Incorporation Date: 23-Sep-1989
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 01251280689
Managing director: Mario
Merlo
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1524 - Sanitary Paper Product Manufacturing
NACE 2002 Codes:
2122 - Manufacture of household and sanitary goods and of toilet
requisites
NAICS 2002 Codes:
322291 - Sanitary Paper Product Manufacturing
US SIC 1987:
2676 - Sanitary Paper Products
UK SIC 2003:
2122 - Manufacture of household and sanitary goods and of toilet
requisites
Business
Description
Artsana Sud SpA is
primarily engaged in manufacture of household and personal hygiene paper and
cellulose wadding products: manufacture of cleansing tissues; manufacture of
handkerchiefs, towels, serviettes; manufacture of toilet paper; manufacture of
sanitary towels and tampons, napkins and napkin liners for babies; and
manufacture of cups, dishes and trays.
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Corporate
Family |
Corporate
Structure News: |
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Artsana Sud SpA |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Grandate, CO |
Italy |
Personal and Household Products |
998.4 |
2,141 |
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Subsidiary |
Agrate Brianza, MI |
Italy |
Retail (Apparel) |
285.0 |
1,173 |
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Subsidiary |
L' Hospitalet De Llobregat, Barcelona |
Spain |
Retail (Apparel) |
115.2 |
536 |
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Subsidiary |
Porto |
Portugal |
Retail (Specialty) |
20.4 |
125 |
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Subsidiary |
Ortona, Chieti |
Italy |
Personal and Household Products |
151.1 |
174 |
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Subsidiary |
Vanzago, Milano (Milan) |
Italy |
Printing and Publishing |
14.5 |
51 |
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Subsidiary |
Dietzenbach, Hessen |
Germany |
Miscellaneous Capital Goods |
36.4 |
47 |
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Executive report
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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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Executives |
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President |
President |
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Managing director |
Managing Director |
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Executive |
Other |
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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 |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
151.6 |
159.4 |
161.4 |
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Net sales |
151.1 |
161.0 |
158.9 |
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Other operating income |
0.4 |
0.6 |
0.9 |
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Raw materials and consumables employed |
95.8 |
94.7 |
104.3 |
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Other expenses |
13.4 |
15.2 |
17.0 |
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Total payroll costs |
10.0 |
9.6 |
10.2 |
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Fixed asset depreciation and amortisation |
4.6 |
5.3 |
6.0 |
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Other operating costs |
0.3 |
0.4 |
0.6 |
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Net operating
income |
27.5 |
34.2 |
23.2 |
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Total financial
income |
2.1 |
- |
- |
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Total expenses |
0.0 |
0.0 |
0.1 |
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Profit before tax |
29.6 |
34.1 |
21.3 |
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Extraordinary result |
0.0 |
- |
- |
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Profit after extraordinary items and
before tax |
29.7 |
34.1 |
21.3 |
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Total taxation |
9.1 |
11.4 |
7.3 |
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Net profit |
20.6 |
22.7 |
13.9 |
Annual Balance Sheet
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 |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
80.8 |
87.2 |
75.0 |
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Provision for risks |
0.2 |
0.1 |
0.2 |
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Provision for pensions |
2.3 |
2.6 |
2.6 |
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Trade creditors |
17.5 |
17.9 |
23.0 |
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Bank loans and overdrafts |
0.0 |
- |
- |
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Other current liabilities |
4.2 |
9.8 |
4.0 |
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Accruals and deferred income |
- |
- |
0.0 |
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Total current
liabilities |
21.7 |
27.7 |
27.0 |
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Total liabilities
(including net worth) |
105.0 |
117.6 |
104.8 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Buildings |
19.8 |
22.0 |
22.3 |
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Total tangible
fixed assets |
33.5 |
33.6 |
35.9 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
33.6 |
33.6 |
35.9 |
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Finished goods |
5.0 |
5.3 |
7.9 |
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Net stocks and work in progress |
13.9 |
12.6 |
16.4 |
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Trade debtors |
1.0 |
1.1 |
0.5 |
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Other receivables |
56.5 |
70.2 |
51.8 |
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Cash and liquid assets |
0.1 |
0.0 |
0.2 |
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Accruals |
0.0 |
- |
0.0 |
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Total current
assets |
71.5 |
83.9 |
68.9 |
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Total assets |
105.0 |
117.6 |
104.8 |
Annual Ratios
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 |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Sales per employee |
1.27 |
1.25 |
1.24 |
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Profit per employee |
0.25 |
0.27 |
0.17 |
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Average wage per employee |
0.08 |
0.07 |
0.08 |
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Net worth |
80.8 |
87.2 |
75.0 |
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Number of employees |
174 |
179 |
170 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.72 |
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UK Pound |
1 |
Rs.81.42 |
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Euro |
1 |
Rs.68.89 |
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.