MIRA INFORM REPORT

 

 

Report Date :

28.07.2012

 

IDENTIFICATION DETAILS

 

Name :

BERTOS SPA

 

 

Registered Office :

Viale Spagna 12, Tribano, 35020

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.05.1984

 

 

Com. Reg. No.:

01897800288

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacturer of domestic electric appliances

 

 

No. of Employees :

99

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

Bertos SpA

Viale Spagna 12

Tribano, 35020

Italy

Tel:       +39 0499 588700

Fax:      +39 0499 588799

 

 

Synthesis     

 

Employees:                  99

Company Type:            Public Independent

Incorporation Date:         14-May-1984   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               27.7

Total Assets:                19.3

 

 

Business Description     

 

BERTOS SPA is primarily engaged in manufacture of domestic electric appliances (refrigerators and freezers, dishwashers, washing and drying machines, vacuum cleaners, floor polishers, waste disposers, grinders, blenders, juice squeezers, tin openers, electric shavers, electric tooth brushes, knife sharpeners, ventilating or recycling hoods0; manufacture of domestic electro-thermic appliances (electric water heaters; electric blankets, electric dryers, combs, brushes, curlers; electric smoothing irons; space heaters and household type fans; electric ovens, micro-wave ovens, cookers, hot plates, toasters, coffee or tea makers, frying- pans, roasters, grills, electric heating resistors, etc.).

 

Industry             

Industry            Appliance and Tool

ANZSIC 2006:    244 - Domestic Appliance Manufacturing

NACE 2002:      2971 - Manufacture of electric domestic appliances

NAICS 2002:     3352 - Household Appliance Manufacturing

UK SIC 2003:    2971 - Manufacture of electric domestic appliances

US SIC 1987:    3631 - Household Cooking Equipment

 

           


Key Executives   

 

Name

Title

Giorgio Berto

President

Dennis Molon

Head of accounting department

Enrico Berto

Vice president

Lucia Cantarello

Vice president

Paolo Meneghini

Member of the board

 

 

News 

 

Title

Date

Phoenix happy as underdogs
Townsville Bulletin (Australia) (125 Words)

5-Apr-2012

Premier's Plate and last finals' place struck at the death of regular season
Cairns Post (348 Words)

26-Mar-2012

sport monday Mariners come out on top in dramatic finale
Townsville Bulletin (Australia) (515 Words)

26-Mar-2012

Football: Mariners top A-League final standings
Agence France-Presse (387 Words)

25-Mar-2012

Brockie aims in right direction for Herbert nod
New Zealand Herald, The (398 Words)

7-Feb-2012

 

Registered No.(ITA):                   01897800288

 

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

Viale Spagna 12

Tribano, 35020

Italy

Tel:       +39 0499 588700

Fax:      +39 0499 588799

           

Sales EUR(mil):             20.9

Assets EUR(mil):           14.4

Employees:                   99

Fiscal Year End:            31-Dec-2010

Industry:                        Appliance and Tool

Incorporation Date:         14-May-1984

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ITA):       01897800288

President:                     Giorgio Berto

 

Contents

·         Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

244       -          Domestic Appliance Manufacturing

 

NACE 2002 Codes:

2971     -          Manufacture of electric domestic appliances

 

NAICS 2002 Codes:

3352     -          Household Appliance Manufacturing

 

US SIC 1987:

3631     -          Household Cooking Equipment

 

UK SIC 2003:

2971     -          Manufacture of electric domestic appliances

 

Business Description

BERTOS SPA is primarily engaged in manufacture of domestic electric appliances (refrigerators and freezers, dishwashers, washing and drying machines, vacuum cleaners, floor polishers, waste disposers, grinders, blenders, juice squeezers, tin openers, electric shavers, electric tooth brushes, knife sharpeners, ventilating or recycling hoods0; manufacture of domestic electro-thermic appliances (electric water heaters; electric blankets, electric dryers, combs, brushes, curlers; electric smoothing irons; space heaters and household type fans; electric ovens, micro-wave ovens, cookers, hot plates, toasters, coffee or tea makers, frying- pans, roasters, grills, electric heating resistors, etc.).

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

20.9

Assets:

14.4

Current Assets:

13.3

 

Total Liabilities:

14.4

 

Net Worth:

6.3

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

14.4%

NA

Key Corporate Relationships

Bank:

Cassa di Risparmio di Padova e Rovigo Ag, Banca Antoniana Popolare Veneta Ag

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

Paolo Meneghini

 

Member of the board

Director/Board Member

 

Executives

 

Name

Title

Function

 

Giorgio Berto

 

President

President

 

Leonardo Casaro

 

Managing director

Managing Director

 

Marco Dal Pont

 

Managing director

Managing Director

 

Dennis Molon

 

Head of accounting department

Accounting Executive

 

Luca Laurenti

 

Commercial manager

Commercial Executive

 

Marco Lebiu

 

Commercial manager

Commercial Executive

 

Enrico Berto

 

Vice president

Other

 

Lucia Cantarello

 

Vice president

Other

 



Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Total income

28.0

26.1

28.0

Net sales

27.7

25.4

28.1

Other operating income

0.3

0.4

0.2

Raw materials and consumables employed

13.0

12.2

13.6

Other expenses

5.9

6.0

6.3

Total payroll costs

5.0

4.6

4.7

Fixed asset depreciation and amortisation

0.4

0.4

0.5

Other operating costs

0.2

0.2

0.3

Net operating income

3.4

2.7

2.6

Total financial income

0.0

0.0

0.1

Total expenses

0.0

0.0

0.2

Profit before tax

3.4

2.7

2.5

Extraordinary result

-

-0.1

-

Profit after extraordinary items and before tax

3.4

2.7

2.5

Total taxation

1.2

0.9

1.0

Net profit

2.3

1.7

1.5

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

8.4

7.8

6.8

Provision for risks

0.1

0.2

0.3

Provision for pensions

0.6

0.7

0.6

Mortgages and loans

1.6

1.2

1.9

Other long-term liabilities

-

0.0

-

Trade creditors

5.6

5.2

5.7

Bank loans and overdrafts

0.8

0.7

0.7

Other current liabilities

2.1

1.8

1.2

Accruals and deferred income

0.1

0.1

0.2

Total current liabilities

8.5

7.8

7.8

Total liabilities (including net worth)

19.3

17.7

17.4

Intangibles

0.7

0.7

0.6

Buildings

0.0

0.0

-

Total tangible fixed assets

0.7

0.6

0.4

Long-term investments

0.0

0.0

0.0

Total financial assets

0.0

0.0

0.0

Receivables due after 1 year

0.0

0.0

0.0

Total non-current assets

1.4

1.4

1.1

Finished goods

2.5

2.6

2.3

Net stocks and work in progress

4.7

4.6

4.4

Trade debtors

6.5

7.5

8.1

Other receivables

1.6

0.4

0.4

Cash and liquid assets

4.1

2.7

2.2

Accruals

0.9

1.0

1.2

Total current assets

17.9

16.3

16.3

Total assets

19.3

17.7

17.4

 

Annual Ratios

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Current ratio

2.10

2.10

2.10

Quick ratio

1.50

1.50

1.50

Current liabilities to net worth

0.01%

0.01%

0.01%

Sales per employee

0.21

0.20

0.21

Profit per employee

0.03

0.02

0.02

Average wage per employee

0.04

0.04

0.03

Net worth

8.4

7.8

6.8

Number of employees

99

92

93

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.41

UK Pound

1

Rs.86.93

Euro

1

Rs.68.10

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.