MIRA INFORM REPORT

 

 

Report Date :

30.06.2012

 

IDENTIFICATION DETAILS

 

Name :

KEDRION S.P.A.

 

 

Formerly Known As :

Farma Biagini S.p.A

 

 

Registered Office :

Loc Ai Conti, Castelvecchio Pascoli

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.06.2000

 

 

Com. Reg. No.:

01779530466

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Subject is engaged in development, production, and distribution of plasma-derived medicinal products across the globe

 

 

No. of Employees :

750

 

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 

 

Kedrion S.p.A.

Loc Ai Conti

Castelvecchio Pascoli,

Italy

Tel:       (39) 0583 19691

Fax:      +39 0583 1969878

Web:    www.kedrion.com

 

 

Registration data 

 

Employees:                  750

Company Type:             Public Independent

Incorporation Date:         01-Jun-2000     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               282.1

Total Assets:                661.4

 

 

Business Description     

 

Kedrion S.p.A. (Kedrion), formerly known as Farma Biagini S.p.A. is a privately held biopharmaceutical company, engaged in the development, production, and distribution of plasma-derived medicinal products across the globe. The company partners with National Health Service for the production of plasma-derived medicinal products in Italy. In addition, the company also markets flu vaccines under the KEDRION tradename and also sells synthetic pharmaceuticals. In addition, the company collects plasma and commercializes in foreign markets. Kedrion also engaged in the production of plasma-derived medicinal products. Kedrion has obtained the ISO 14001 (for system of environmental management) and BS OHSAS 18001 (for employees health and safety management system) and EMAS certificate. Kedrion is headquartered in Barga, Italy.

 

More Business Descriptions

Industry

Industry            Biotechnology and Drugs

ANZSIC 2006:    1841 - Human Pharmaceutical and Medicinal Product Manufacturing

NACE 2002:      2442 - Manufacture of pharmaceutical preparations

NAICS 2002:     325412 - Pharmaceutical Preparation Manufacturing

UK SIC 2003:    24421 - Manufacture of medicaments

US SIC 1987:    2834 - Pharmaceutical Preparations

 

           


 

Key Executives   

 

Name

Title

Paolo Marcucci

President & CEO

Giovanni Rinaldi

Direttore-Commerciale Italia

Rodolfo De Dominicis

Vice president

Andrea Gianola

Member of the board

Remo Grassi

Member of the board

 

 

News  

 

 

Title

Date

Drug developer Kamada slashes net loss
Globes (Tel Aviv) (400 Words)

22-Nov-2011

Research and Markets: Immunoglobulins Market to 2017 - Profiles for the leading companies and analysis of mergers, acquisitions and licensing agreements
Business Wire (359 Words)

27-Sep-2011

Australia Patent: Kedrion Files Application for 'New process for highly selective purification of two plasma proteins: von Willebrand factor (vWF)...
Australian Government (108 Words)

3-Sep-2011

 

Registered No.(ITA): 01779530466

 

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

Loc Ai Conti

Castelvecchio Pascoli, Italy

Tel:       (39) 0583 19691

Fax:      +39 0583 1969878

Web:    www.kedrion.com

           

Sales EUR(mil):             213.0

Assets EUR(mil):           493.0

Employees:                   750

Fiscal Year End:            31-Dec-2010

Industry:                        Biotechnology and Drugs

Incorporation Date:         01-Jun-2000

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ITA):       01779530466

President & CEO :         Paolo Marcucci

 

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1841     -          Human Pharmaceutical and Medicinal Product Manufacturing

 

NACE 2002 Codes:

2442     -          Manufacture of pharmaceutical preparations

 

NAICS 2002 Codes:

325412  -          Pharmaceutical Preparation Manufacturing

 

US SIC 1987:

2834     -          Pharmaceutical Preparations

 

UK SIC 2003:

24421   -          Manufacture of medicaments

 

Business Description

Biopharmaceutical Research & Development Services

 

More Business Descriptions

KEDRION SPA is primarily engaged in production of medicinally active substances to be used for their pharmacological properties in the manufacture of medicaments; and processing of blood. This class also includes: manufacture of chemically pure sugars; and processing of glands and manufacture of extracts of glands, etc.

 

Kedrion S.p.A. (Kedrion), formerly known as Farma Biagini S.p.A. is a privately held biopharmaceutical company, engaged in the development, production, and distribution of plasma-derived medicinal products across the globe. The company partners with National Health Service for the production of plasma-derived medicinal products in Italy. In addition, the company also markets flu vaccines under the KEDRION tradename and also sells synthetic pharmaceuticals. In addition, the company collects plasma and commercializes in foreign markets. Kedrion also engaged in the production of plasma-derived medicinal products. Kedrion has obtained the ISO 14001 (for system of environmental management) and BS OHSAS 18001 (for employees health and safety management system) and EMAS certificate. Kedrion is headquartered in Barga, Italy.

 

Pharmaceutical and Medicine Manufacturing

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

213.0

Assets:

493.0

Current Assets:

217.4

 

Total Liabilities:

493.0

 

Net Worth:

192.5

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

4.2%

NA

Key Corporate Relationships

Bank:

Intesa Sanpaolo Ag

 

 

 

 

 

 

 

 

 

Competitors Report

Company Name

Location

Employees

Ownership

Irbm Istituto Di Ricerca Di Biologia Molecolare P. Angeletti

Pomezia, Italy

160

Private

Istituto Ganassini SpA di Ricerche Biochimiche

Milano, Milano, Italy

82

Public

Janssen-Cilag SpA

Cologno Monzese, MI, Italy

974

Public

Ntc SRL

Milano, Milano, Italy

2

Private

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Andrea Gianola

 

Member of the board

Director/Board Member

 

Remo Grassi

 

Member of the board

Director/Board Member

 

Andrea Marcucci

 

Member of the board

Director/Board Member

 

Paolo Melloni

 

Member of the board

Director/Board Member

 

Antonio Luigi Tazartes

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Paolo Marcucci

 

President & CEO

Chief Executive Officer

 

Giovanni Rinaldi

 

Direttore-Commerciale Italia

Sales Executive

 

Maurizio Baron

 

Executive

Other

 

Simone Boaglio

 

Executive

Other

 

Marta Bonaldi

 

Executive

Other

 

Lucia Caproni

 

Executive

Other

 

Giuseppe D'Agostino

 

Executive

Other

 

Rodolfo De Dominicis

 

Vice president

Other

 

Rodolfo Franceschini

 

Director Industrial

Other

 

Pietro Gasparin

 

Executive

Other

 

Giacomo Manara

 

Executive

Other

 

Pier Sergio Martini

 

Executive

Other

 

Danilo Medica

 

Executive

Other

 

Giuseppe Ravenda

 

Executive

Other

 

Giovanni Severino

 

Executive

Other

 

Roberto Tana

 

Executive

Other

 

 

PORTUGAL : Kedrion Portugal Lda wins supply contract for immunoglobulins

 

TendersInfo News

19 July 2011

 

[What follows is the full text of the article.]

Kedrion Portugal Lda grabbed supply contract from Hospital do Espirito Santo de Evora, EPE for immunoglobulins through open procedure. The purpose of work is to supply human normal immunoglobulin.

 

Five bidders showed their interest by bidding for this tender. Government Procurement Agreement (GPA) has not covered this contract. Information about sub-contracting for third party is not been revealed. The initial estimated total value of the contract was 234780 EUR and the final contract award value was 208000 EUR.

 

The award criteria is the most economically advantageous tender in terms of price - weighting 60, quality - weighting 40. The contractor was not selected through an electronic auction process. Hospital do Espirito Santo de Evora, EPE is a body governed by public law. The contracting authority is not purchasing on behalf of other contracting authorities.

 

 

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

287.4

312.4

293.3

Net sales

282.1

284.1

274.8

Other operating income

5.3

8.0

7.4

Raw materials and consumables employed

96.2

114.7

98.9

Other expenses

63.3

74.9

78.6

Total payroll costs

50.5

50.6

48.2

Fixed asset depreciation and amortisation

19.2

23.9

15.3

Other operating costs

3.6

2.5

4.6

Net operating income

54.6

45.8

47.7

Total financial income

4.3

1.7

4.3

Total expenses

20.5

20.5

13.8

Profit before tax

38.5

27.1

38.2

Extraordinary result

-

0.6

0.5

Profit after extraordinary items and before tax

38.5

27.7

38.7

Total taxation

14.7

12.7

15.4

Net profit

23.8

14.9

23.3

 

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

258.3

187.5

118.3

Provision for risks

1.8

1.5

2.4

Provision for pensions

5.0

6.7

7.2

Mortgages and loans

24.5

223.5

105.5

Other long-term liabilities

23.9

30.7

17.3

Trade creditors

56.9

58.5

50.5

Advances received

-

0.8

1.0

Bank loans and overdrafts

204.6

27.5

23.8

Other current liabilities

86.3

42.4

34.2

Accruals and deferred income

0.0

13.4

5.7

Total current liabilities

347.8

142.6

115.3

Total liabilities (including net worth)

661.4

592.5

365.9

Intangibles

207.1

184.8

16.4

Buildings

49.7

46.3

45.6

Total tangible fixed assets

101.7

74.2

70.6

Long-term investments

39.1

41.8

38.6

Total financial assets

60.9

42.1

38.8

Receivables due after 1 year

-

1.3

1.3

Loans to associated companies

21.4

-

-

Total non-current assets

369.7

302.4

127.1

Work in progress

-

11.3

11.5

Finished goods

86.5

84.4

61.5

Net stocks and work in progress

125.3

135.1

93.0

Trade debtors

108.8

95.0

91.9

Other receivables

39.9

44.1

34.5

Cash and liquid assets

16.5

10.2

17.4

Marketable securities

0.6

-

-

Accruals

0.6

5.8

2.0

Total current assets

291.7

290.1

238.8

Total assets

661.4

592.5

365.9

 

 

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

0.80

2.00

2.10

Quick ratio

0.50

1.10

1.30

Current liabilities to net worth

0.01%

0.01%

0.01%

Sales per employee

0.28

0.29

0.29

Profit per employee

-

0.03

0.04

Average wage per employee

0.05

0.05

0.05

Net worth

258.3

187.5

118.3

Number of employees

750

709

659

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.31

UK Pound

1

Rs.88.06

Euro

1

Rs.70.91

 

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.