MIRA
INFORM REPORT
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Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
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Name : |
PRESSVIT SRL |
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Registered Office : |
Via Martelli 17, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.03.1967 |
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Com. Reg. No.: |
00746920156 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
manufacturer of rivets, washers and similar non-threaded
products |
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No. of Employees : |
43 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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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 (31.03.2012) |
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 & address
Pressvit SRL
Via Martelli 17
Zibido San Giacomo, 20080
Italy
Tel: +39 0290 002841
Fax: +39 0290 002117
Synthesis
Employees: 43
Company Type: Private Independent
Incorporation Date: 30-Mar-1967
Financials in: USD (Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 9.5
Total Assets: 5.4
Business Description
Pressvit SRL 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 Miscellaneous Fabricated Products
ANZSIC 2006: 2292 - Nut, Bolt,
Screw and Rivet Manufacturing
NACE 2002: 2874 - Manufacture
of fasteners, screw machine products, chains and springs
NAICS 2002: 33272 - Turned
Product and Screw, Nut, and Bolt Manufacturing
UK SIC 2003: 2874 - Manufacture
of fasteners, screw machine products, chains and springs
UK SIC 2007: 2594 - Manufacture
of fasteners and screw machine products
US SIC 1987: 3452 - Bolts,
Nuts, Screws, Rivets, and Washers
Key Executives
Name Title
Luigi Beccaria President
Carlo Beccaria Managing
director
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Via Martelli 17
Zibido San Giacomo, 20080
Italy
Tel: +39 0290 002841
Fax: +39 0290 002117
Sales EUR(mil): 6.8
Assets EUR(mil): 4.2
Employees: 43
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Fabricated Products
Incorporation Date: 30-Mar-1967
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 00746920156
President: Luigi
Beccaria
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2292 - Nut, Bolt, Screw and Rivet Manufacturing
NACE 2002 Codes:
2874 - Manufacture of fasteners, screw machine products, chains
and springs
NAICS 2002 Codes:
33272 - Turned Product and Screw, Nut, and Bolt Manufacturing
US SIC 1987:
3452 - Bolts, Nuts, Screws, Rivets, and Washers
UK SIC 2003:
2874 - Manufacture of fasteners, screw machine products, chains
and springs
UK SIC 2007:
2594 - Manufacture of fasteners and screw machine products
Business
Description
Pressvit SRL 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.
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Executive report
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Executives |
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President |
President |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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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 |
9.5 |
8.6 |
6.3 |
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Net sales |
9.5 |
8.7 |
6.3 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
4.1 |
3.8 |
2.6 |
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Other expenses |
1.5 |
1.3 |
1.1 |
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Total payroll costs |
3.3 |
2.9 |
2.7 |
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Fixed asset depreciation and amortisation |
0.3 |
0.2 |
0.2 |
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Other operating costs |
0.3 |
0.3 |
0.3 |
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Net operating
income |
0.1 |
0.2 |
-0.5 |
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Total financial
income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.1 |
0.1 |
0.1 |
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Profit before tax |
0.0 |
0.1 |
-0.6 |
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Extraordinary result |
0.0 |
0.0 |
0.6 |
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Profit after extraordinary items and
before tax |
0.0 |
0.2 |
0.0 |
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Total taxation |
0.1 |
0.1 |
0.1 |
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Net profit |
- |
0.0 |
- |
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Net loss |
0.1 |
- |
0.1 |
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 |
1.4 |
1.6 |
1.6 |
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Provision for pensions |
0.8 |
0.8 |
0.8 |
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Mortgages and loans |
0.8 |
0.9 |
0.9 |
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Other long-term liabilities |
- |
- |
0.2 |
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Trade creditors |
1.9 |
2.1 |
1.5 |
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Bank loans and overdrafts |
0.2 |
0.4 |
0.2 |
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Other current liabilities |
0.3 |
0.4 |
0.2 |
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Total current
liabilities |
2.4 |
2.9 |
1.9 |
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Total
liabilities (including net worth) |
5.4 |
6.1 |
5.5 |
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Intangibles |
0.1 |
0.1 |
0.1 |
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Total tangible
fixed assets |
2.1 |
1.9 |
1.7 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Receivables due after 1 year |
- |
0.0 |
- |
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Total
non-current assets |
2.3 |
2.0 |
1.9 |
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Net stocks and work in progress |
1.5 |
1.6 |
1.3 |
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Trade debtors |
1.0 |
1.4 |
1.2 |
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Other receivables |
0.1 |
0.3 |
0.2 |
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Cash and liquid assets |
0.4 |
0.6 |
0.9 |
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Accruals |
0.2 |
0.2 |
0.1 |
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Total current
assets |
3.1 |
4.1 |
3.6 |
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Total assets |
5.4 |
6.1 |
5.5 |
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 |
1.30 |
1.40 |
1.90 |
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Quick ratio |
0.70 |
0.90 |
1.30 |
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Current liabilities to net worth |
0.02% |
0.02% |
0.01% |
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Sales per employee |
0.16 |
0.15 |
0.11 |
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Profit per employee |
0.00 |
0.00 |
0.00 |
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Average wage per employee |
0.06 |
0.05 |
0.05 |
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Net worth |
1.4 |
1.6 |
1.6 |
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Number of employees |
43 |
44 |
41 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.47 |
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UK Pound |
1 |
Rs.87.63 |
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Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
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.