MIRA
INFORM REPORT
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Report Date : |
01.12.2012 |
IDENTIFICATION DETAILS
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Name : |
FACCIN SRL |
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Registered Office : |
Via Dell' Industria 19 Visano, 25010 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.05.1977 |
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Reg. No.: |
00897820171 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacturer of machine tools for working metal operated
by laser and the like: machining centres |
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No. of Employees : |
80 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified
industrial economy, which is divided into a developed industrial north,
dominated by private companies, and a less-developed, welfare-dependent,
agricultural south, with high unemployment. The Italian economy is driven in
large part by the manufacture of high-quality consumer goods produced by small
and medium-sized enterprises, many of them family owned. Italy also has a
sizable underground economy, which by some estimates accounts for as much as
17% of GDP. These activities are most common within the agriculture,
construction, and service sectors. Italy is the third-largest economy in the
euro-zone, but exceptionally high public debt burdens and structural
impediments to growth have rendered it vulnerable to scrutiny by financial
markets. Public debt has increased steadily since 2007, reaching 120% of GDP in
2011, and borrowing costs on sovereign government debt have risen to record
levels. During the second half of 2011 the government passed a series of three
austerity packages to balance its budget by 2013 and decrease its public debt
burden. These measures included a hike in the value-added tax, pension reforms,
and cuts to public administration. The government also faces pressure from
investors and European partners to address Italy's long-standing structural
impediments to growth, such as an inflexible labor market and widespread tax
evasion. The international financial crisis worsened conditions in Italy''s
labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but
in the longer-term Italy''s low fertility rate and quota-driven immigration
policies will increasingly strain its economy. The euro-zone crisis along with
Italian austerity measures have reduced exports and domestic demand, slowing
Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.
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Source : CIA |
Company Name and Address
FACCIN SRL
Via Dell' Industria 19
Visano, 25010
Italy
Tel: +39 0309 529777
Fax: +39 0309 958771
Employees: 80
Company Type: Private
Independent
Incorporation Date: 06-May-1977
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 39.8
Total Assets: 35.0
Business Description
Faccin SRL is primarily engaged in manufacture of machine tools for working metal operated by laser and the like: machining centres and the like; manufacture of lathes, boring and milling machines for working metals; manufacture of other machine tools for working metal; and manufacture of parts and accessories for metalworking machine-tools.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Walter Faccin |
President |
News
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Title |
Date |
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Candidate
forums set for three locations |
30-Sep-2012 |
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Debate over
audit firm widens candidate rift |
19-Sep-2012 |
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ZHI, Faccin
work on plate rolling machine |
1-Jul-2012 |
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Study Results
from Federal University Update Understanding of Bacillus megaterium |
7-Mar-2012 |
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Australia
Patent for 'Techniques for performing UMTS-authentication using SIP (session
initiation protocol) messages' Ceases |
28-Feb-2012 |
Registered No.(ITA): 00897820171
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Dell' Industria 19
Visano, 25010
Italy
Tel: +39
0309 529777
Fax: +39
0309 958771
Sales EUR(mil): 28.6
Assets EUR(mil): 26.9
Employees: 80
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Capital Goods
Incorporation Date: 06-May-1977
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 00897820171
President: Walter
Faccin
Industry
Codes
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ANZSIC 2006 Codes: |
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2463 |
- |
Machine Tool and Parts Manufacturing |
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NACE 2002 Codes: |
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2942 |
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Manufacture of other metalworking machine tools |
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NAICS 2002 Codes: |
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33351 |
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Metalworking Machinery Manufacturing |
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US SIC 1987: |
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3541 |
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Machine Tools, Metal Cutting Types |
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UK SIC 2003: |
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2942 |
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Manufacture of other metalworking machine tools |
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UK SIC 2007: |
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2841 |
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Manufacture of metal forming machinery |
Faccin SRL is primarily engaged in manufacture of machine
tools for working metal operated by laser and the like: machining centres and
the like; manufacture of lathes, boring and milling machines for working
metals; manufacture of other machine tools for working metal; and manufacture
of parts and accessories for metalworking machine-tools.
Financial
Data
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Financials in: |
EUR(mil) |
1 Year Growth |
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Revenue: |
28.6 |
1.1% |
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Assets: |
26.9 |
NA |
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Current Assets: |
20.0 |
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Total Liabilities: |
26.9 |
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Net Worth: |
5.2 |
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Date of Financial Data: |
31-Dec-2011 |
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Subsidiaries
Company Percentage Owned Country
Boldrini SRL
Key Corporate Relationships
Bank: Banca Nazionale del Lavoro Ag, Banco di Brescia Ag, Unicredit Banca d'Impresa Ag
Executives
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President |
President |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
News
Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
41.9 |
37.5 |
49.0 |
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Net sales |
39.8 |
37.5 |
49.6 |
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Other operating income |
0.2 |
0.1 |
0.2 |
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Raw materials and consumables employed |
18.8 |
18.2 |
18.0 |
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Other expenses |
12.9 |
10.7 |
18.6 |
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Total payroll costs |
4.9 |
4.4 |
5.5 |
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Fixed asset depreciation and amortisation |
1.1 |
0.4 |
0.6 |
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Other operating costs |
0.2 |
0.1 |
0.1 |
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Net operating
income |
4.0 |
3.6 |
6.2 |
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Total financial
income |
0.3 |
0.3 |
-0.1 |
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Total expenses |
0.2 |
0.1 |
0.2 |
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Profit before tax |
4.1 |
3.7 |
5.9 |
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Extraordinary result |
0.0 |
0.1 |
-0.2 |
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Profit after extraordinary items and
before tax |
4.2 |
3.8 |
5.7 |
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Total taxation |
2.0 |
1.4 |
3.1 |
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Net profit |
2.2 |
2.4 |
2.6 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total stockholders
equity |
6.7 |
8.2 |
7.6 |
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Provision for risks |
6.5 |
5.4 |
5.9 |
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Provision for pensions |
0.4 |
0.5 |
0.7 |
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Trade creditors |
8.7 |
9.8 |
10.6 |
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Bank loans and overdrafts |
- |
1.6 |
0.1 |
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Other current liabilities |
12.5 |
8.0 |
16.5 |
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Accruals and deferred income |
0.2 |
0.1 |
0.1 |
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Total current
liabilities |
21.4 |
19.4 |
27.2 |
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Total
liabilities (including net worth) |
35.0 |
33.5 |
41.3 |
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Intangibles |
0.2 |
0.3 |
0.4 |
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Total tangible
fixed assets |
1.6 |
1.6 |
0.8 |
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Long-term investments |
0.2 |
0.2 |
0.0 |
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Total financial
assets |
0.2 |
0.2 |
0.0 |
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Receivables due after 1 year |
6.9 |
8.3 |
1.0 |
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Total
non-current assets |
8.9 |
10.5 |
2.2 |
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Finished goods |
6.5 |
4.9 |
5.3 |
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Net stocks and work in progress |
10.6 |
9.4 |
9.7 |
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Trade debtors |
6.0 |
8.7 |
14.8 |
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Other receivables |
2.1 |
2.6 |
1.7 |
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Cash and liquid assets |
6.3 |
1.7 |
12.4 |
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Accruals |
1.0 |
0.5 |
0.5 |
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Total current
assets |
26.0 |
23.0 |
39.2 |
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Total assets |
35.0 |
33.5 |
41.3 |
Annual Ratios
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.20 |
1.20 |
1.40 |
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Quick ratio |
0.70 |
0.70 |
1.10 |
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Current liabilities to net worth |
0.03% |
0.02% |
0.04% |
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Sales per employee |
0.36 |
0.37 |
0.50 |
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Profit per employee |
0.04 |
0.04 |
0.06 |
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Average wage per employee |
0.04 |
0.04 |
0.06 |
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Net worth |
6.7 |
8.2 |
7.6 |
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Number of employees |
79 |
77 |
71 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.52 |
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1 |
Rs.87.48 |
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Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.