MIRA INFORM REPORT
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Report Date : |
02.01.2012 |
IDENTIFICATION DETAILS
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Name : |
SCAVOLINI SPA |
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Registered Office : |
Via Risara 60/70-74/78, Montelabbate, 61025 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.06.1967 |
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Com. Reg. No.: |
00113120414 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacture of furniture for bedrooms, living
rooms, gardens, etc |
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No. of Employees
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546 |
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
Scavolini SpA
Via Risara 60/70-74/78
Montelabbate, 61025
Italy
Tel: 39 (0721) 4431
Fax: +39 0721 443402
Web: www.scavolini.com
Synthesis
Employees: 546
Company Type: Public Subsidiary
Corporate Family: 3
Companies
Ultimate Parent: FINGROUP DI SCAVOLINI ELVINO E
VALTER & C. SAPA
Incorporation Date: 10-Jun-1967
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 247.1
Total Assets: 213.4
Business Description
Scavolini SpA is
primarily engaged in manufacture of furniture for bedrooms, living rooms,
gardens, etc. This class also includes: finishing of furniture such as
spraying, painting, French polishing and upholstering except of chairs and
seats.
Industry
Industry Furniture and Fixtures
ANZSIC 2006: 2511 - Wooden
Furniture and Upholstered Seat Manufacturing
NACE 2002: 3611 - Manufacture
of chairs and seats
NAICS 2002: 337122 -
Nonupholstered Wood Household Furniture Manufacturing
UK SIC 2003: 3611 - Manufacture
of chairs and seats
US SIC 1987: 2511 - Wood
Household Furniture, Except Upholstered
Key Executives
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Name |
Title |
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Valter Scavolini |
Chairman and Chief Executive Officer |
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Giovanni Severi |
Executive |
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Alberto Scavolini |
Vice Chairman |
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Emanuela Scavolini |
Vice Chairman |
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Gianmarco Scavolini |
Vice Chairman |
News
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Title |
Date |
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Azeri Rabita progress to final of
Champions League |
19-Mar-2011 |
Registered No.(ITA): 00113120414
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Published by OneSource Information Services, Inc., 2012
Corporate Overview
Location
Via Risara 60/70-74/78
Montelabbate, 61025
Italy
Tel: 39 (0721) 4431
Fax: +39 0721 443402
Web: www.scavolini.com
Sales EUR(mil): 186.6
Assets EUR(mil): 159.1
Employees: 546
Fiscal Year End: 31-Dec-2010
Industry: Furniture and Fixtures
Incorporation Date: 10-Jun-1967
Company Type: Public Subsidiary
Quoted Status: Not Quoted
Registered No.(ITA): 00113120414
Chairman and Chief Executive Officer: Valter
Scavolini
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2511 - Wooden Furniture and Upholstered Seat Manufacturing
NACE 2002 Codes:
3611 - Manufacture of chairs and seats
NAICS 2002 Codes:
337122 - Nonupholstered Wood Household Furniture Manufacturing
US SIC 1987:
2511 - Wood Household Furniture, Except Upholstered
UK SIC 2003:
3611 - Manufacture of chairs and seats
Business
Description
Manufacture of kitchen units
More Business
Descriptions
Scavolini SpA is primarily engaged in manufacture of furniture for
bedrooms, living rooms, gardens, etc. This class also includes: finishing of
furniture such as spraying, painting, French polishing and upholstering except
of chairs and seats.
Brand/Trade Names
SCAVOLINI
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Corporate
Family |
Corporate
Structure News: |
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Scavolini SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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FINGROUP DI SCAVOLINI ELVINO E VALTER
& C. SAPA |
Parent |
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Subsidiary |
Montelabbate, PU |
Italy |
Furniture and Fixtures |
247.1 |
546 |
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Subsidiary |
Montelabbate |
Italy |
Furniture and Fixtures |
38.6 |
110 |
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Executive report
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Board of
Directors |
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Vice Chairman |
Chairman |
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Chairman and Chief Executive Officer |
Chairman |
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Vice Chairman |
Chairman |
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Vice Chairman |
Chairman |
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Vice Chairman |
Chairman |
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Executives |
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Chairman and Chief Executive Officer |
Chief Executive Officer |
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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 |
251.2 |
247.5 |
269.6 |
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Net sales |
247.1 |
242.7 |
265.1 |
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Other operating income |
4.1 |
4.5 |
4.1 |
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Raw materials and consumables employed |
138.6 |
135.8 |
148.3 |
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Other expenses |
62.8 |
65.3 |
71.9 |
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Total payroll costs |
30.0 |
30.2 |
31.4 |
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Fixed asset depreciation and amortisation |
4.1 |
4.3 |
5.3 |
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Other operating costs |
1.7 |
1.7 |
1.5 |
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Net operating income |
14.0 |
10.3 |
11.2 |
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Total financial income |
0.8 |
0.8 |
2.6 |
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Total expenses |
0.0 |
0.0 |
- |
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Profit before tax |
14.8 |
11.1 |
13.8 |
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Extraordinary result |
0.0 |
0.3 |
0.1 |
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Profit after extraordinary items and before tax |
14.8 |
11.4 |
13.9 |
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Total taxation |
5.7 |
4.6 |
5.4 |
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Net profit |
9.0 |
6.8 |
8.5 |
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 |
108.7 |
108.2 |
100.1 |
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Provision for risks |
4.4 |
4.8 |
4.2 |
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Provision for pensions |
7.9 |
8.7 |
8.7 |
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Mortgages and loans |
12.1 |
- |
- |
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Trade creditors |
62.3 |
59.6 |
61.4 |
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Bank loans and overdrafts |
1.3 |
0.0 |
0.0 |
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Other current liabilities |
16.6 |
15.3 |
13.9 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
80.2 |
75.0 |
75.3 |
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Total liabilities (including net worth) |
213.4 |
196.6 |
188.3 |
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Intangibles |
0.9 |
1.5 |
1.0 |
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Buildings |
31.1 |
34.3 |
33.6 |
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Total tangible fixed assets |
59.4 |
55.3 |
52.6 |
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Long-term investments |
29.2 |
28.0 |
15.6 |
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Total financial assets |
29.2 |
28.0 |
15.6 |
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Receivables due after 1 year |
1.4 |
1.4 |
1.2 |
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Total non-current assets |
91.0 |
86.3 |
70.5 |
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Finished goods |
2.5 |
3.0 |
2.6 |
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Net stocks and work in progress |
18.0 |
19.6 |
18.3 |
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Trade debtors |
13.2 |
20.2 |
17.0 |
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Other receivables |
2.4 |
2.0 |
2.8 |
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Cash and liquid assets |
88.3 |
67.9 |
78.8 |
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Accruals |
0.5 |
0.5 |
0.9 |
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Total current assets |
122.4 |
110.4 |
117.8 |
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Total assets |
213.4 |
196.6 |
188.3 |
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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Current ratio |
1.50 |
1.50 |
1.60 |
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Quick ratio |
1.30 |
1.20 |
1.30 |
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Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
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Sales per employee |
0.35 |
0.32 |
0.33 |
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Profit per employee |
0.02 |
0.02 |
0.02 |
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Average wage per employee |
0.04 |
0.04 |
0.04 |
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Net worth |
108.7 |
108.2 |
100.1 |
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Number of employees |
538 |
537 |
544 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.27 |
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UK Pound |
1 |
Rs.82.09 |
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Euro |
1 |
Rs.68.90 |
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.