MIRA
INFORM REPORT
|
Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEVIS SPA |
|
|
|
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Registered Office : |
Via Borgo Tocchi 28/32 |
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Country : |
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|
|
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.07.1979 |
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Reg. No.: |
00704200245 |
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Legal Form : |
Public Subsidiary |
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|
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Line of Business : |
Manufacture of rivets, washers and similar non-threaded
products |
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|
|
|
No. of Employees : |
250 |
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 |
|
Status : |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source : CIA |
Company Name and address
MEVIS SPA
Via Borgo Tocchi 28/32
Rosa', 36027
Italy
Fax: +39
0424 581780
Employees: 250
Company Type: Public Subsidiary
Corporate Family: 2 Companies
Ultimate Parent: FONDAMENTA SAPA DI FEDERICO
VISENTIN & C.
Incorporation Date: 13-Jul-1979
Financials in: USD
(In Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 73.6
Total Assets: 73.5
Business Description
Mevis SpA is primarily engaged in manufacture of rivets,
washers and similar non-threaded products; manufacture of screw machine products:
bolts, screws, nuts; manufacture of springs (leaf springs, helical springs,
torsion bar springs; leaves for springs); and manufacture of chain, except
power transmission chain.
Industry
|
Industry |
|
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ANZSIC 2006: |
|
|
NACE 2002: |
2874 - Manufacture
of fasteners, screw machine products, chains and springs |
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NAICS 2002: |
33272 -
Turned Product and Screw, Nut, and Bolt Manufacturing |
|
UK SIC 2003: |
2874 -
Manufacture of fasteners, screw machine products, chains and springs |
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UK SIC 2007: |
|
|
US SIC 1987: |
Key Executive
|
Name |
Title |
|
Federico Visentin |
President |
|
Andrea Visentin |
Member of the board |
|
Luisa Visentin |
Member of the board |
|
Fabio Visentin |
Member of the board |
News
|
Title |
Date |
|
Sapiens announces
start of IMPACT, a 5M? European project to improve Deep Brain Stimulation |
12-Nov-2012 |
|
My First
Wife By Jakob Wassermann Penguin Classics, £16.99 |
26-Sep-2012 |
Registered No.(ITA): 00704200245
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Borgo Tocchi 28/32
Rosa', 36027
Italy
Fax: +39
0424 581780
Sales EUR(mil): 53.0
Assets EUR(mil): 56.6
Employees: 250
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Fabricated Products
Incorporation Date: 13-Jul-1979
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 00704200245
President: Federico
Visentin
Industry Code
|
ANZSIC 2006 Codes: |
||
|
2292 |
- |
Nut, Bolt, Screw and Rivet Manufacturing |
|
2240 |
- |
Sheet Metal Product Manufacturing (except Metal Structural and
Container Products) |
|
2463 |
- |
Machine Tool and Parts Manufacturing |
|
2299 |
- |
Other Fabricated Metal Product Manufacturing Not Elsewhere Classified |
|
NACE 2002 Codes: |
||
|
2874 |
- |
Manufacture of fasteners, screw machine products, chains and springs |
|
2875 |
- |
Manufacture of other fabricated metal products not elsewhere
classified |
|
2943 |
- |
Manufacture of other machine tools not elsewhere classified |
|
2840 |
- |
Forging, pressing, stamping and roll forming of metal; powder
metallurgy |
|
NAICS 2002 Codes: |
||
|
33272 |
- |
Turned Product and Screw, Nut, and Bolt Manufacturing |
|
33211 |
- |
Forging and Stamping |
|
33351 |
- |
Metalworking Machinery Manufacturing |
|
332999 |
- |
All Other Miscellaneous Fabricated Metal Product Manufacturing |
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US SIC 1987: |
||
|
3493 |
- |
Steel Springs, Except Wire |
|
3499 |
- |
Fabricated Metal Products, Not Elsewhere Classified |
|
3549 |
- |
Metalworking Machinery, Not Elsewhere Classified |
|
346 |
- |
Metal Forgings and Stampings |
|
UK SIC 2003: |
||
|
2874 |
- |
Manufacture of fasteners, screw machine products, chains and springs |
|
2875 |
- |
Manufacture of other fabricated metal products not elsewhere
classified |
|
2840 |
- |
Forging, pressing, stamping and roll forming of metal; powder
metallurgy |
|
2943 |
- |
Manufacture of other machine tools not elsewhere classified |
|
UK SIC 2007: |
||
|
2594 |
- |
Manufacture of fasteners and screw machine products |
|
2550 |
- |
Forging, pressing, stamping and roll-forming of metal; powder
metallurgy |
|
2849 |
- |
Manufacture of other machine tools |
|
2599 |
- |
Manufacture of other fabricated metal products n.e.c. |
Mevis SpA is primarily engaged in manufacture of rivets,
washers and similar non-threaded products; manufacture of screw machine products:
bolts, screws, nuts; manufacture of springs (leaf springs, helical springs,
torsion bar springs; leaves for springs); and manufacture of chain, except
power transmission chain.
Financial Data
|
Financials in: |
EUR(mil) |
1 Year Growth |
|
Revenue: |
53.0 |
7.8% |
|
Assets: |
56.6 |
NA |
|
Current Assets: |
25.3 |
|
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Total Liabilities: |
56.6 |
|
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Net Worth: |
39.4 |
|
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Date of Financial Data: |
31-Dec-2011 |
|
Key Corporate Relationships
Bank:Intesa Sanpaolo Ag, Banca del Comprensorio del Cuoio di Castelfranco Ag, Banca Nazionale del Lavoro A
Corporate
Structure News
Mevis
SpA
Total Corporate Family Members: 2
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
FONDAMENTA SAPA DI FEDERICO VISENTIN & C. |
Parent |
|
|
|
|
|
|
Subsidiary |
Rosa', Vicenza |
Italy |
Miscellaneous Fabricated Products |
73.6 |
250 |
Board of Directors
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|||
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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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Member of the board |
Director/Board Member |
Executives
|
|
|
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||||
|
President |
President |
D&B |
News
|
Sapiens
announces start of IMPACT, a 5M? European project to improve Deep Brain
Stimulation |
12-Nov-2012 |
|
My First
Wife By Jakob Wassermann Penguin Classics, £16.99 |
26-Sep-2012 |
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
|
Total income |
76.9 |
66.6 |
56.3 |
|
Net sales |
73.6 |
65.1 |
54.5 |
|
Other operating income |
1.4 |
0.8 |
1.8 |
|
Raw materials and consumables employed |
34.5 |
27.6 |
22.1 |
|
Other expenses |
15.3 |
12.1 |
10.4 |
|
Total payroll costs |
17.1 |
14.6 |
12.9 |
|
Fixed asset depreciation and amortisation |
5.2 |
4.9 |
6.4 |
|
Other operating costs |
0.8 |
0.6 |
0.6 |
|
Net operating
income |
3.9 |
6.8 |
3.9 |
|
Total financial
income |
0.3 |
0.2 |
0.2 |
|
Total expenses |
0.1 |
0.1 |
0.2 |
|
Profit before tax |
4.2 |
6.9 |
3.9 |
|
Extraordinary result |
0.0 |
0.2 |
0.0 |
|
Profit after extraordinary items and
before tax |
4.2 |
7.0 |
4.0 |
|
Total taxation |
1.7 |
2.3 |
1.4 |
|
Net profit |
2.5 |
4.7 |
2.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total
stockholders equity |
51.1 |
50.8 |
49.5 |
|
Provision for risks |
2.6 |
2.5 |
2.5 |
|
Provision for pensions |
2.6 |
2.7 |
3.0 |
|
Mortgages and loans |
0.2 |
- |
- |
|
Other long-term liabilities |
0.4 |
1.2 |
2.3 |
|
Trade creditors |
12.2 |
11.8 |
10.2 |
|
Bank loans and overdrafts |
0.2 |
0.0 |
0.0 |
|
Other current liabilities |
4.2 |
5.3 |
5.3 |
|
Accruals and deferred income |
0.0 |
0.1 |
0.1 |
|
Total current
liabilities |
16.5 |
17.3 |
15.7 |
|
Total
liabilities (including net worth) |
73.5 |
74.6 |
72.9 |
|
Intangibles |
0.1 |
0.1 |
0.1 |
|
Buildings |
19.5 |
20.4 |
21.6 |
|
Total tangible fixed
assets |
34.4 |
34.5 |
37.3 |
|
Long-term investments |
2.1 |
2.1 |
2.3 |
|
Total financial
assets |
5.8 |
6.0 |
6.4 |
|
Receivables due after 1 year |
0.4 |
0.7 |
1.0 |
|
Loans to associated companies |
3.7 |
3.8 |
4.1 |
|
Total
non-current assets |
40.7 |
41.2 |
44.9 |
|
Finished goods |
3.2 |
2.5 |
2.2 |
|
Net stocks and work in progress |
5.0 |
4.8 |
3.9 |
|
Trade debtors |
13.0 |
14.4 |
14.9 |
|
Other receivables |
5.9 |
3.2 |
1.9 |
|
Cash and liquid assets |
2.4 |
8.1 |
6.4 |
|
Marketable securities |
6.5 |
2.7 |
0.6 |
|
Accruals |
0.1 |
0.2 |
0.3 |
|
Total current
assets |
32.9 |
33.3 |
28.1 |
|
Total assets |
73.5 |
74.6 |
72.9 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
2.00 |
1.90 |
1.80 |
|
Quick ratio |
1.70 |
1.60 |
1.50 |
|
Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
|
Sales per employee |
0.20 |
0.20 |
0.16 |
|
Profit per employee |
0.01 |
0.02 |
0.01 |
|
Average wage per employee |
0.05 |
0.04 |
0.04 |
|
Net worth |
51.1 |
50.8 |
49.5 |
|
Number of employees |
268 |
251 |
250 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
|
1 |
Rs.87.63 |
|
Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.