MIRA INFORM REPORT

 

 

Report Date :           

25.01.2012

 

IDENTIFICATION DETAILS

 

Name :

SPACE 2000 SPA

 

 

Registered Office :

Via Delle Fontane 4/6, Baldissero Canavese, 10080

 

 

Country :

Italy

 

 

Financials (as on) :

30.04.2010

 

 

Date of Incorporation :

25.11.1987

 

 

Com. Reg. No.:

05414420017

 

 

Legal Form :

Public Subsidiary Company

 

 

Line of Business :

manufacture of other men’s outerwear; and manufacture of other women’s outerwear

 

 

No. of Employees :

46

 

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

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Italy

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Space 2000 SpA

Via Delle Fontane 4/6

Baldissero Canavese, 10080

Italy

Tel:       +39 0124 7714922

Fax:      +39 0124 5100167

 

 

Synthesis  

 

Employees:                  46

Company Type:            Public Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            COFIM SPA

Incorporation Date:         25-Nov-1987    

Financials in:                 USD (Millions)

Fiscal Year End:            30-Jun-2010

Reporting Currency:       Euro

Annual Sales:               28.3

Total Assets:                21.3

 

 

Business Description     

 

Space 2000 SpA is primarily engaged in manufacture of other men’s outerwear; and manufacture of other women’s outerwear.

 

Industry

Industry            Apparel and Accessories

ANZSIC 2006:    1351 - Clothing Manufacturing

NACE 2002:      1822 - Manufacture of other outerwear

NAICS 2002:     3152 - Cut and Sew Apparel Manufacturing

UK SIC 2003:    1822 - Manufacture of other outerwear

US SIC 1987:    2329 - Men's and Boys' Clothing, Not Elsewhere Classified

 

           


Key Executives   

 

Name

Title

Giancarlo Musso

President

Piero Dogliotti

Member of the board

Cristiano Musso

Managing director

 

Registered No.(ITA): 05414420017

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7214831

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.8163932

 

 

Corporate Overview

 

Location

Via Delle Fontane 4/6

Baldissero Canavese, 10080

TORINO County

Italy

Tel:       +39 0124 7714922

Fax:      +39 0124 5100167

           

Sales EUR(mil):             20.4

Assets EUR(mil):           17.4

Employees:                   46

Fiscal Year End:            30-Jun-2010

Industry:                        Apparel and Accessories

Incorporation Date:         25-Nov-1987

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):       05414420017

Managing director:         Cristiano Musso

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1351     -          Clothing Manufacturing

261       -          Electricity Generation

 

NACE 2002 Codes:

4011     -          Production of electricity

1822     -          Manufacture of other outerwear

 

NAICS 2002 Codes:

22111   -          Electric Power Generation

3152     -          Cut and Sew Apparel Manufacturing

 

US SIC 1987:

2329     -          Men's and Boys' Clothing, Not Elsewhere Classified

4911     -          Electric Services

 

UK SIC 2003:

1822     -          Manufacture of other outerwear

4011     -          Production of electricity

 

Business Description

Space 2000 SpA is primarily engaged in manufacture of other men’s outerwear; and manufacture of other women’s outerwear.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

20.4

Assets:

17.4

Current Assets:

9.4

 

Total Liabilities:

17.4

 

Net Worth:

10.8

 

 

 

Date of Financial Data:

30-Jun-2010

 

1 Year Growth

185.5%

NA

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Key Corporate Relationships

Bank:

Intesa SanPaolo, UniCredit Banca

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Space 2000 SpA

Space 2000 SpA 
Total Corporate Family Members: 2 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

COFIM SPA

Parent

 

 

 

 

 

 

Space 2000 SpA

Subsidiary

Baldissero Canavese

Italy

Apparel and Accessories

28.3

46

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Piero Dogliotti

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Giancarlo Musso

 

President

President

 

Cristiano Musso

 

Managing director

Managing Director

 

Manuele Maria Musso

 

Managing director

Managing Director

 

 

 

Annual Profit & Loss

 

 

 

 

30-Jun-2010

30-Jun-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.721483

0.731067

0.683679

Consolidated

No

No

No

 

 

 

 

Total income

26.9

11.4

30.6

Net sales

28.3

9.8

30.2

Other operating income

0.2

0.2

0.4

Raw materials and consumables employed

12.8

6.4

15.2

Other expenses

8.4

3.6

9.6

Total payroll costs

2.3

1.0

2.0

Fixed asset depreciation and amortisation

0.6

0.3

0.4

Other operating costs

1.0

0.2

0.6

Net operating income

1.8

0.0

2.8

Total financial income

0.5

0.1

-0.2

Total expenses

0.2

0.1

0.4

Profit before tax

2.1

0.0

2.2

Extraordinary result

0.0

0.1

-0.2

Profit after extraordinary items and before tax

2.1

0.1

2.1

Total taxation

0.9

0.1

0.9

Net profit

1.2

0.0

1.2

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

30-Jun-2010

30-Jun-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.816393

0.712936

0.719399

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

13.2

13.9

13.8

Provision for risks

1.3

1.6

1.6

Provision for pensions

0.4

0.4

0.4

Mortgages and loans

0.2

0.0

0.0

Other long-term liabilities

2.0

3.1

3.1

Trade creditors

2.6

4.2

4.7

Bank loans and overdrafts

0.0

1.0

0.8

Other current liabilities

1.4

0.3

0.2

Accruals and deferred income

0.1

0.1

0.3

Total current liabilities

4.2

5.6

6.1

Total liabilities (including net worth)

21.3

24.6

24.9

Intangibles

0.2

0.2

0.3

Buildings

7.6

8.8

8.8

Total tangible fixed assets

8.3

9.8

10.0

Total financial assets

0.0

0.0

0.0

Receivables due after 1 year

1.2

8.4

10.2

Total non-current assets

9.7

18.5

20.5

Finished goods

0.9

2.7

1.2

Net stocks and work in progress

1.2

3.0

1.4

Trade debtors

5.4

1.6

1.0

Other receivables

3.2

0.2

0.3

Cash and liquid assets

1.0

0.4

0.7

Accruals

0.7

1.0

1.1

Total current assets

11.5

6.2

4.5

Total assets

21.3

24.6

24.9

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

30-Jun-2010

30-Jun-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.816393

0.712936

0.719399

Consolidated

No

No

No

 

 

 

 

Profit per employee

0.03

0.00

0.03

Net worth

13.2

13.9

13.8

Number of employees

46

48

45

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.97

UK Pound

1

Rs.77.74

Euro

1

Rs.65.09

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.