MIRA INFORM REPORT

 

 

Report Date :           

03.03.2012

 

IDENTIFICATION DETAILS

 

Name :

FIORIO COLORI SPA

 

 

Registered Office :

Via Italia 28, Gessate, 20060

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

06.05.1980

 

 

Com. Reg. No.:

05831410153

 

 

Legal Form :

Public Independent  Company

 

 

Line of Business :

manufacture of other organic basic chemicals

 

 

No. of Employees :

33

 

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 

 

Fiorio Colori SpA

Via Italia 28

Gessate, 20060

Italy

Tel:       +39 0295 92901

Fax:      +39 0295 382688

 

 

Synthesis     

 

Employees:                   33

Company Type:             Public Independent

Incorporation Date:         06-May-1980    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               8.6

Total Assets:                 10.8

 

 

Business Description     

 

Fiorio Colori SpA is primarily engaged in manufacture of other organic basic chemicals: acyclic hydrocarbons, saturated and unsaturated; cyclic hydrocarbons, saturated and unsaturated; acyclic and cyclic alcohols, including synthetic ethyl alcohol; mono- and polycarboxyclic acids including acetic acid; other oxygen-function compounds including aldehydes, ketones, quinones and dual or poly oxygen-function compounds; nitrogen-function organic compounds including amines; other organic compounds including wood distillation products, etc.; manufacture of charcoal; production of pitch and pitch coke; manufacture of synthetic aromatic products; and distillation of coal tar.

 

Industry             

Industry            Chemical Manufacturing

ANZSIC 2006:    1812 - Basic Organic Chemical Manufacturing

NACE 2002:      2414 - Manufacture of other organic basic chemicals

NAICS 2002:     32519 - Other Basic Organic Chemical Manufacturing

UK SIC 2003:    2414 - Manufacture of other organic basic chemicals

US SIC 1987:    2869 - Industrial Organic Chemicals, Not Elsewhere Classified

 

           


Key Executives   

 

Name

Title

Franco Fiorio

President

Enzo Rosati

Managing director

Gian Maria Fiorio

Vice president

Oscar Querro

Commercial manager

 

Registered No.(ITA): 05831410153

 

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 Italia 28

Gessate, 20060

Italy

Tel:       +39 0295 92901

Fax:      +39 0295 382688

           

Sales EUR(mil):             6.5

Assets EUR(mil):           8.1

Employees:                   33

Fiscal Year End:            31-Dec-2010

Industry:                        Chemical Manufacturing

Incorporation Date:         06-May-1980

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ITA):       05831410153

Managing director:         Enzo Rosati

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1812     -          Basic Organic Chemical Manufacturing

 

NACE 2002 Codes:

2414     -          Manufacture of other organic basic chemicals

 

NAICS 2002 Codes:

32519   -          Other Basic Organic Chemical Manufacturing

 

US SIC 1987:

2869     -          Industrial Organic Chemicals, Not Elsewhere Classified

 

UK SIC 2003:

2414     -          Manufacture of other organic basic chemicals

 

Business Description

Fiorio Colori SpA is primarily engaged in manufacture of other organic basic chemicals: acyclic hydrocarbons, saturated and unsaturated; cyclic hydrocarbons, saturated and unsaturated; acyclic and cyclic alcohols, including synthetic ethyl alcohol; mono- and polycarboxyclic acids including acetic acid; other oxygen-function compounds including aldehydes, ketones, quinones and dual or poly oxygen-function compounds; nitrogen-function organic compounds including amines; other organic compounds including wood distillation products, etc.; manufacture of charcoal; production of pitch and pitch coke; manufacture of synthetic aromatic products; and distillation of coal tar.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

6.5

Assets:

8.1

Current Assets:

4.9

 

Total Liabilities:

8.1

 

Net Worth:

4.1

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

9.0%

NA

Key Corporate Relationships

Bank:

Intesa Sanpaolo Ag, Intesa Sanpaolo Ag, Banca Popolare di Lodi Ag

 

 

 

 

 

 

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Franco Fiorio

 

President

President

 

Enzo Rosati

 

Managing director

Managing Director

 

Oscar Querro

 

Commercial manager

Commercial Executive

 

Gian Maria Fiorio

 

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

9.1

7.9

9.7

Net sales

8.6

8.3

9.7

Other operating income

0.1

0.0

0.0

Raw materials and consumables employed

4.2

3.3

4.3

Other expenses

1.9

1.6

2.3

Total payroll costs

2.1

2.3

3.1

Fixed asset depreciation and amortisation

0.3

0.4

0.2

Other operating costs

0.1

0.1

0.1

Net operating income

0.4

0.2

-0.3

Total financial income

0.0

0.0

0.0

Total expenses

0.1

0.1

0.2

Profit before tax

0.3

0.1

-0.4

Extraordinary result

-

0.0

-

Profit after extraordinary items and before tax

0.3

0.1

-0.4

Total taxation

0.1

0.0

0.1

Net profit

0.1

0.0

-

Net loss

-

-

0.5

 

 

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

5.6

5.8

5.6

Provision for risks

1.1

1.2

1.3

Provision for pensions

1.0

1.0

1.2

Mortgages and loans

0.3

1.0

0.5

Other long-term liabilities

-

-

1.1

Trade creditors

1.5

1.3

1.3

Bank loans and overdrafts

0.7

0.3

0.9

Other current liabilities

0.5

0.4

0.6

Accruals and deferred income

0.1

0.1

0.1

Total current liabilities

2.9

2.1

3.0

Total liabilities (including net worth)

10.8

11.2

12.6

Buildings

3.8

4.3

5.4

Total tangible fixed assets

4.1

4.6

5.7

Total financial assets

0.0

0.0

0.0

Receivables due after 1 year

0.2

0.2

0.4

Total non-current assets

4.3

4.8

6.1

Finished goods

2.9

2.7

2.9

Net stocks and work in progress

3.5

3.3

3.7

Trade debtors

2.2

2.3

2.3

Other receivables

0.2

0.1

0.3

Cash and liquid assets

0.6

0.7

0.1

Accruals

0.0

0.0

0.0

Total current assets

6.5

6.4

6.5

Total assets

10.8

11.2

12.6

 

 

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

2.20

3.10

2.20

Quick ratio

1.00

1.50

0.90

Current liabilities to net worth

0.01%

0.00%

0.01%

Sales per employee

0.20

0.19

0.20

Profit per employee

0.01

0.00

-0.01

Average wage per employee

0.05

0.05

0.06

Net worth

5.6

5.8

5.6

Number of employees

33

31

33

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.35

UK Pound

1

Rs.78.68

Euro

1

Rs.65.63

 

 

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.