MIRA
INFORM REPORT
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Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
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Name : |
DIESEL SPA
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Registered Office : |
Via dell'Industria 7, Molvena, 36060 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
06.10.1978 |
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Com. Reg. No.: |
00642650246 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
manufacturer of other men’s outerwear; and manufacture of other women’s outerwear |
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No. of Employees : |
656 |
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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company name & address
Diesel SpA
Via dell'Industria 7
Molvena, 36060
Italy
Tel: (39) 0242409555
Fax: 39 (0424) 411955
Web: www.diesel.com
Synthesis
Employees: 656
Company Type: Public Parent
Corporate Family: 14
Companies
Incorporation Date:
06-Oct-1978
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 580.3
Total Assets: 1,135.2
Business Description
DIESEL 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: 1823 - Manufacture
of underwear
NAICS 2002: 315223 - Men's and
Boys' Cut and Sew Shirt (except Work Shirt) Manufacturing
UK SIC 2003: 18231 -
Manufacture of men's underwear
US SIC 1987: 2321 - Men's and
Boys' Shirts, Except Work Shirts
Key Executives
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Name |
Title |
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Renzo Rosso |
Founder & President |
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Antonio Sperati Ruffoni |
Finance Director |
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Giorgio Presca |
Direttore-Commerciale e Marketing |
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Giulio Tonin |
Direttore-Sistemi Informativi |
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Licia Tominovi |
Direttore-Acquisti |
Registered No.(ITA): 00642650246
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 dell'Industria 7
Molvena, 36060
Italy
Tel: (39) 0242409555
Fax: 39 (0424) 411955
Web: www.diesel.com
Sales EUR(mil): 438.2
Assets EUR(mil): 846.2
Employees: 656
Fiscal Year End: 31-Dec-2010
Industry: Apparel and Accessories
Incorporation Date: 06-Oct-1978
Company Type: Public Parent
Quoted Status: Not Quoted
Registered No.(ITA): 00642650246
Founder & President : Renzo
Rosso
Contents
Industry Codes
Business Description
Brand/Trade Names
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1351 - Clothing Manufacturing
NACE 2002 Codes:
1822 - Manufacture of other outerwear
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
1823 - Manufacture of underwear
NAICS 2002 Codes:
315228 - Men's and Boys' Cut and Sew Other Outerwear Manufacturing
315232 - Women's and Girls' Cut and Sew Blouse and Shirt
Manufacturing
315224 - Men's and Boys' Cut and Sew Trouser, Slack and Jean
Manufacturing
315223 - Men's and Boys' Cut and Sew Shirt (except Work Shirt)
Manufacturing
315222 - Men's and Boys' Cut and Sew Suit, Coat, and Overcoat
Manufacturing
US SIC 1987:
2321 - Men's and Boys' Shirts, Except Work Shirts
2325 - Men's and Boys' Separate Trousers and Slacks
2331 - Women's, Misses', and Juniors' Blouses and Shirts
2329 - Men's and Boys' Clothing, Not Elsewhere Classified
2311 - Men's and Boys' Suits, Coats, and Overcoats
UK SIC 2003:
18231 - Manufacture of men's underwear
18221 - Manufacture of other men's outerwear
1824 - Manufacture of other wearing apparel and accessories not
elsewhere classified
18232 - Manufacture of women's underwear
Business
Description
Manufacture of casual clothing and accessories
More Business
Descriptions
Casual Clothing & Accessory Mfr
DIESEL SPA is primarily engaged in manufacture of other men’s
outerwear; and manufacture of other women’s outerwear.
Cosmetics, Beauty Supplies and Perfume Stores
Brand/Trade Names
Diesel
Diesel Kids
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Corporate
Family |
Corporate
Structure News: |
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Diesel SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Molvena, VI |
Italy |
Apparel and Accessories |
580.3 |
656 |
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Subsidiary |
Paris |
France |
Apparel and Accessories |
109.2 |
374 |
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Subsidiary |
Marostica, Vicenza |
Italy |
Apparel and Accessories |
144.5 |
274 |
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Subsidiary |
Eindhoven, Noord-Brabant |
Netherlands |
Apparel and Accessories |
63.2 |
88 |
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Subsidiary |
Marostica, Vicenza |
Italy |
Apparel and Accessories |
53.8 |
82 |
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Subsidiary |
Marostica, Vicenza |
Italy |
Footwear |
141.4 |
68 |
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Subsidiary |
Athens |
Greece |
Footwear |
23.0 |
60 |
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Subsidiary |
Cheung Sha Wan, Kowloon |
Hong Kong |
Apparel and Accessories |
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60 |
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Subsidiary |
Mason Vicentino, Vicenza |
Italy |
Apparel and Accessories |
33.1 |
37 |
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Subsidiary |
Bassano Del Grappa, Vicenza |
Italy |
Recreational Activities |
1.4 |
37 |
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Subsidiary |
Bassano Del Grappa, Vicenza |
Italy |
Retail (Apparel) |
94.4 |
13 |
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Subsidiary |
Osaka, Osaka |
Japan |
Retail (Apparel) |
284.1 |
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Diesel International B.V. |
Subsidiary |
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Subsidiary |
DĂĽsseldorf, Nordrhein-Westfalen |
Germany |
Apparel and Accessories |
108.8 |
355 |
Competitors Report
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Company Name |
Location |
Employees |
Ownership |
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Calvin Klein, Inc. |
New York, New York, United States |
700 |
Private |
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Carter's, Inc. |
Atlanta, Georgia, United States |
2,619 |
Public |
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Fifth & Pacific Companies Inc |
New York, New York, United States |
6,100 |
Public |
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Fruit of the Loom, Inc. |
Bowling Green, Kentucky, United States |
33,000 |
Private |
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H & M Hennes & Mauritz AB |
Stockholm, Sweden |
94,000 |
Public |
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Inditex SA |
Arteixo, Spain |
109,512 |
Public |
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J.C. Penney Company, Inc. |
Plano, Texas, United States |
159,000 |
Public |
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Kellwood Company |
Chesterfield, Missouri, United States |
160 |
Private |
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Levi Strauss & Co. |
San Francisco, California, United States |
17,000 |
Private |
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Limited Brands, Inc. |
Columbus, Ohio, United States |
18,000 |
Public |
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Reebok International Ltd. |
Canton, Massachusetts, United States |
9,102 |
Private |
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Tefron Ltd. |
Misgav, Israel |
571 |
Public |
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The Gap Inc. |
San Francisco, California, United States |
132,000 |
Public |
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The Gymboree Corporation |
San Francisco, California, United States |
12,400 |
Public |
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V.F. Corporation |
Greensboro, North Carolina, United States |
58,000 |
Public |
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Warnaco Group Inc |
New York, New York, United States |
7,136 |
Public |
executive report
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Board of
Directors |
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Member of the board |
Director/Board Member |
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Executives |
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Founder & President |
President |
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Managing director |
Managing Director |
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Managing Director |
Managing Director |
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Finance Director |
Finance Executive |
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Direttore-Personale |
Human Resources Executive |
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Direttore-Commerciale e Marketing |
Sales Executive |
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Global Head-Communications |
International Executive |
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Direttore-Sistemi Informativi |
Information Executive |
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Direttore-Acquisti |
Purchasing Executive |
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Executive |
Other |
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Executive |
Other |
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Executive |
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 |
632.7 |
633.2 |
795.6 |
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Net sales |
580.3 |
616.7 |
740.8 |
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Other operating income |
44.8 |
48.4 |
51.4 |
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Raw materials and consumables employed |
204.9 |
201.3 |
271.0 |
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Other expenses |
240.9 |
235.3 |
295.0 |
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Total payroll costs |
57.2 |
55.3 |
57.5 |
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Fixed asset depreciation and amortisation |
41.5 |
35.9 |
36.8 |
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Other operating costs |
2.0 |
3.3 |
2.9 |
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Net operating income |
86.2 |
102.0 |
132.4 |
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Total financial income |
18.2 |
54.8 |
25.0 |
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Total expenses |
0.4 |
0.3 |
4.2 |
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Profit before tax |
103.9 |
156.6 |
153.3 |
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Extraordinary result |
-3.3 |
-2.0 |
-2.7 |
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Profit after extraordinary items and before tax |
100.7 |
154.6 |
150.5 |
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Total taxation |
30.6 |
38.9 |
41.5 |
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Net profit |
70.1 |
115.7 |
109.0 |
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 |
971.4 |
991.6 |
872.9 |
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Provision for risks |
12.9 |
13.9 |
14.3 |
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Provision for pensions |
6.9 |
7.5 |
7.8 |
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Trade creditors |
118.0 |
139.6 |
151.1 |
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Bank loans and overdrafts |
0.0 |
0.0 |
0.0 |
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Other current liabilities |
21.9 |
27.5 |
29.6 |
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Accruals and deferred income |
4.0 |
7.5 |
10.9 |
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Total current liabilities |
143.9 |
174.6 |
191.6 |
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Total liabilities (including net worth) |
1,135.2 |
1,187.7 |
1,086.6 |
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Intangibles |
253.7 |
302.4 |
319.4 |
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Buildings |
124.4 |
10.2 |
10.1 |
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Total tangible fixed assets |
172.5 |
143.4 |
64.0 |
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Long-term investments |
244.6 |
259.6 |
252.1 |
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Total financial assets |
270.7 |
287.8 |
279.3 |
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Receivables due after 1 year |
0.8 |
1.0 |
1.3 |
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Total non-current assets |
697.8 |
734.7 |
664.0 |
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Finished goods |
91.0 |
89.1 |
118.3 |
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Net stocks and work in progress |
100.2 |
98.7 |
130.6 |
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Trade debtors |
30.7 |
28.6 |
25.9 |
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Other receivables |
297.9 |
312.1 |
251.2 |
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Cash and liquid assets |
1.6 |
0.8 |
0.4 |
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Accruals |
6.9 |
12.8 |
14.5 |
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Total current assets |
437.4 |
453.0 |
422.6 |
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Total assets |
1,135.2 |
1,187.7 |
1,086.6 |
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 |
3.00 |
2.60 |
2.20 |
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Quick ratio |
2.30 |
2.00 |
1.50 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
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Sales per employee |
0.67 |
0.68 |
0.79 |
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Profit per employee |
0.12 |
0.17 |
0.16 |
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Average wage per employee |
0.07 |
0.06 |
0.06 |
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Net worth |
971.4 |
991.6 |
872.9 |
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Number of employees |
656 |
655 |
646 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.42 |
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UK Pound |
1 |
Rs.88.45 |
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Euro |
1 |
Rs.71.52 |
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.