MIRA INFORM REPORT
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Report Date : |
13.01.2012 |
IDENTIFICATION DETAILS
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Name : |
STELMI ITALIA SPA |
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Registered Office : |
Via Gandhi 15, Vittuone, 20010 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.07.2006 |
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Com. Reg. No.: |
05374560968 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Manufacture of seamless tubes, by hot rolling, hot
extrusion or hot drawing, or by cold drawing or cold rolling |
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No. of Employees
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94 |
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 – 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
Stelmi Italia SpA
Via Gandhi 15
Vittuone, 20010
Italy
Tel: +39 0290 39991
Fax: +39 0290 399966
Synthesis
Employees: 94
Company Type: Public Subsidiary
Corporate Family: 3
Companies
Ultimate Parent: Lebogest
SpA
Incorporation Date:
10-Jul-2006
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 32.5
Total Assets: 38.8
Business Description
Stelmi Italia SpA is primarily engaged in manufacture of seamless tubes, by hot rolling, hot extrusion or hot drawing, or by cold drawing or cold rolling; manufacture of welded tubes by cold or hot forming and welding, by forming and cold drawing, or by hot forming and reducing; and manufacture of steel tube fittings (flat flanges and flanges with forged collars of steel, butt welding fittings of steel, threaded fittings and other fittings of steel).
Industry
Industry Construction - Supplies and
Fixtures
ANZSIC 2006: 2122 - Steel Pipe
and Tube Manufacturing
NACE 2002: 2722 - Manufacture
of steel tubes
NAICS 2002: 331210 - Iron and
Steel Pipe and Tube Manufacturing from Purchased Steel
UK SIC 2003: 2722 - Manufacture
of steel tubes
US SIC 1987: 3317 - Steel Pipe
and Tubes
Key Executives
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Name |
Title |
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Giovanni Marinoni |
President |
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Ottavio Rota |
Vice president |
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Vincenzo Confalonieri |
Executive |
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Luca Paolo Ceriani |
Member of the board |
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Maria Angela Perego |
Member of the board |
Registered No.(ITA): 05374560968
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
Via Gandhi 15
Vittuone, 20010
MILANO County
Italy
Tel: +39 0290 39991
Fax: +39 0290 399966
Sales EUR(mil): 24.5
Assets EUR(mil): 28.9
Employees: 94
Fiscal Year End: 31-Dec-2010
Industry: Construction
- Supplies and Fixtures
Incorporation Date: 10-Jul-2006
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 05374560968
Member of the board: Luca Paolo
Ceriani
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2122 - Steel Pipe and Tube Manufacturing
NACE 2002 Codes:
2722 - Manufacture of steel tubes
NAICS 2002 Codes:
331210 - Iron and Steel Pipe and Tube Manufacturing from Purchased
Steel
US SIC 1987:
3317 - Steel Pipe and Tubes
UK SIC 2003:
2722 - Manufacture of steel tubes
Business
Description
Stelmi Italia SpA is primarily engaged in manufacture of seamless tubes, by hot rolling, hot extrusion or hot drawing, or by cold drawing or cold rolling; manufacture of welded tubes by cold or hot forming and welding, by forming and cold drawing, or by hot forming and reducing; and manufacture of steel tube fittings (flat flanges and flanges with forged collars of steel, butt welding fittings of steel, threaded fittings and other fittings of steel).
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Corporate
Family |
Corporate
Structure News: |
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Stelmi Italia
SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Bolgare |
Italy |
Business Services |
3.1 |
1 |
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Subsidiary |
Bolgare |
Italy |
Electronic Instruments and Controls |
143.6 |
219 |
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Subsidiary |
Vittuone |
Italy |
Construction - Supplies and Fixtures |
32.5 |
94 |
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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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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 |
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Executives |
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President |
President |
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Executive |
Other |
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Executive |
Other |
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Vice president |
Other |
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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 |
34.7 |
17.7 |
58.7 |
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Net sales |
32.5 |
18.5 |
57.1 |
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Other operating income |
0.0 |
0.0 |
0.1 |
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Raw materials and consumables employed |
23.2 |
10.3 |
36.6 |
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Other expenses |
5.4 |
5.7 |
9.7 |
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Total payroll costs |
5.0 |
4.3 |
6.3 |
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Fixed asset depreciation and amortisation |
1.5 |
1.6 |
4.5 |
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Other operating costs |
0.1 |
0.1 |
3.0 |
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Net operating
income |
-0.5 |
-4.3 |
-1.4 |
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Total financial
income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.7 |
0.8 |
0.4 |
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Profit before tax |
-1.1 |
-5.2 |
-1.8 |
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Extraordinary result |
0.0 |
0.4 |
0.0 |
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Profit after extraordinary items and
before tax |
-1.2 |
-4.8 |
-1.8 |
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Total taxation |
-0.5 |
-1.1 |
1.5 |
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Net loss |
0.7 |
3.7 |
3.3 |
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 |
1.0 |
1.0 |
1.8 |
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Provision for risks |
- |
- |
0.4 |
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Provision for pensions |
1.3 |
1.3 |
1.2 |
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Mortgages and loans |
15.1 |
19.4 |
18.8 |
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Other long-term liabilities |
- |
0.7 |
1.6 |
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Trade creditors |
12.8 |
4.9 |
12.1 |
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Bank loans and overdrafts |
6.3 |
3.9 |
8.2 |
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Other current liabilities |
2.1 |
2.1 |
2.4 |
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Accruals and deferred income |
0.3 |
0.1 |
0.2 |
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Total current
liabilities |
21.5 |
11.0 |
23.0 |
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Total
liabilities (including net worth) |
38.8 |
33.4 |
46.7 |
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Intangibles |
3.7 |
4.5 |
4.8 |
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Total tangible
fixed assets |
16.6 |
18.5 |
18.7 |
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Total financial
assets |
0.5 |
0.4 |
0.4 |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
20.8 |
23.4 |
23.8 |
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Finished goods |
4.6 |
2.6 |
3.3 |
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Net stocks and work in progress |
6.1 |
3.8 |
6.1 |
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Trade debtors |
9.7 |
4.4 |
15.4 |
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Other receivables |
1.7 |
1.5 |
0.7 |
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Cash and liquid assets |
0.4 |
0.1 |
0.3 |
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Accruals |
0.1 |
0.2 |
0.3 |
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Total current
assets |
18.0 |
10.0 |
22.9 |
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Total assets |
38.8 |
33.4 |
46.7 |
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 |
0.80 |
0.90 |
1.00 |
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Quick ratio |
0.60 |
0.60 |
0.70 |
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Current liabilities to net worth |
0.22% |
0.11% |
0.13% |
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Sales per employee |
0.26 |
0.14 |
0.36 |
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Profit per employee |
-0.01 |
-0.04 |
-0.01 |
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Average wage per employee |
0.04 |
0.03 |
0.04 |
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Net worth |
1.0 |
1.0 |
1.8 |
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Number of employees |
93 |
97 |
110 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.83 |
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UK Pound |
1 |
Rs.79.42 |
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Euro |
1 |
Rs.65.90 |
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.