MIRA
INFORM REPORT
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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
SIMEC SPA |
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Registered Office : |
Via Enrico Fermi 4, Castello Di Godego, 31030 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.04.1970 |
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Com. Reg. No.: |
00277350260 |
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Legal Form : |
Public Parent |
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Line of Business : |
Machinery and Equipment Manufacturing |
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No. of Employees : |
130 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 and address
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Simec SpA |
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Employees: 130
Company Type: Public Parent
Corporate Family: 2 Companies
Incorporation Date: 22-Apr-1970
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 25.5
Total Assets: 43.0
Business Description
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Simec SpA is primarily engaged in manufacture of machinery for working
soft rubber or plastics or for the manufacture of products of these materials
(extruders, moulders, pneumatic tyre making or retreading machines and other
machines for making a specific rubber or plastic product); manufacture of
printing and bookbinding machines; manufacture of machinery for producing
tiles, bricks, shaped ceramic pastes, pipes, graphite electrodes, blackboard
chalk, foundry moulds, etc.; manufacture of moulding boxes for any material;
mould bases; moulding patterns; moulds; manufacture of dryers for wood, paper
pulp, paper or paperboard; manufacture of centrifugal clothes dryers;
manufacture of diverse special machinery and equipment (machines to assemble
electric or electronic lamps, tubes (valves) or bulbs; machines for
production or hot-working of glass or glassware, glass fibre or yarn;
machinery or apparatus for isotopic separation; rope-making machinery, etc.);
and manufacture of industrial robots for multiple uses. |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2499 - Other Machinery and Equipment
Manufacturing Not Elsewhere Classified |
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NACE 2002: |
2956 - Manufacture of other special
purpose machinery not elsewhere classified |
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NAICS 2002: |
333298 - All Other Industrial Machinery Manufacturing
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UK SIC 2003: |
2956 - Manufacture of other special
purpose machinery not elsewhere classified |
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US SIC 1987: |
3559 - Special Industry Machinery, Not
Elsewhere Classified |
Key Executives
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|
News |
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Registered No.(ITA)
00277350260
Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
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Sales EUR(mil): |
19.2 |
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Assets EUR(mil): |
32.1 |
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Employees: |
130 |
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Fiscal Year End: |
31-Dec-2010 |
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Industry: |
Miscellaneous
Capital Goods |
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Incorporation Date: |
22-Apr-1970 |
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Company Type: |
Public Parent |
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Quoted Status: |
Not Quoted |
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Registered No.(ITA): |
00277350260 |
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Sole administrator: |
Ampelio
Stangherlin |
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ANZSIC 2006 Codes: |
||
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2499 |
- |
Other Machinery and Equipment Manufacturing Not Elsewhere Classified |
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NACE 2002 Codes: |
||
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2956 |
- |
Manufacture of other special purpose machinery not elsewhere
classified |
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NAICS 2002 Codes: |
||
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333298 |
- |
All Other Industrial Machinery Manufacturing |
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US SIC 1987: |
||
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3559 |
- |
Special Industry Machinery, Not Elsewhere Classified |
|
UK SIC 2003: |
||
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2956 |
- |
Manufacture of other special purpose machinery not elsewhere
classified |
|
Simec SpA is primarily engaged in manufacture of machinery for working
soft rubber or plastics or for the manufacture of products of these materials
(extruders, moulders, pneumatic tyre making or retreading machines and other
machines for making a specific rubber or plastic product); manufacture of
printing and bookbinding machines; manufacture of machinery for producing
tiles, bricks, shaped ceramic pastes, pipes, graphite electrodes, blackboard
chalk, foundry moulds, etc.; manufacture of moulding boxes for any material;
mould bases; moulding patterns; moulds; manufacture of dryers for wood, paper
pulp, paper or paperboard; manufacture of centrifugal clothes dryers;
manufacture of diverse special machinery and equipment (machines to assemble
electric or electronic lamps, tubes (valves) or bulbs; machines for
production or hot-working of glass or glassware, glass fibre or yarn;
machinery or apparatus for isotopic separation; rope-making machinery, etc.);
and manufacture of industrial robots for multiple uses. |
|
Financials in: |
EUR(mil) |
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Revenue: |
19.2 |
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Assets: |
32.1 |
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Current Assets: |
25.5 |
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Total Liabilities: |
32.1 |
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Net Worth: |
20.2 |
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Date of Financial Data: |
31-Dec-2010 |
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1 Year Growth |
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-12.5% |
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NA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Castello Di Godego, Treviso |
Italy |
Miscellaneous Capital Goods |
25.5 |
130 |
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Subsidiary |
Riese Pio X, Treviso |
Italy |
Miscellaneous Capital Goods |
2.8 |
27 |
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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 |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
27.8 |
36.7 |
65.5 |
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Net sales |
25.5 |
30.6 |
53.6 |
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Other operating income |
1.8 |
1.0 |
0.8 |
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Raw materials and consumables employed |
16.3 |
21.4 |
41.7 |
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Other expenses |
4.6 |
6.7 |
13.7 |
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Total payroll costs |
7.0 |
7.5 |
9.1 |
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Fixed asset depreciation and amortisation |
0.5 |
0.4 |
0.6 |
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Other operating costs |
0.1 |
0.3 |
0.8 |
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Net operating income |
-0.7 |
0.4 |
-0.4 |
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Total financial income |
0.7 |
-0.3 |
0.5 |
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Total expenses |
0.2 |
0.5 |
0.5 |
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Profit before tax |
-0.2 |
-0.3 |
-0.4 |
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Extraordinary result |
- |
4.3 |
- |
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Profit after extraordinary items and before tax |
-0.2 |
3.9 |
-0.4 |
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Total taxation |
0.2 |
0.2 |
0.3 |
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Net profit |
- |
3.7 |
- |
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Net loss |
0.4 |
- |
0.7 |
Annual
Balance Sheet
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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 |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
27.2 |
29.5 |
22.2 |
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Provision for risks |
0.8 |
0.2 |
1.1 |
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Provision for pensions |
2.0 |
2.5 |
2.2 |
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Trade creditors |
6.3 |
5.2 |
9.1 |
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Bank loans and overdrafts |
0.8 |
6.0 |
6.9 |
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Other current liabilities |
5.6 |
4.1 |
9.2 |
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Accruals and deferred income |
0.5 |
0.5 |
0.5 |
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Total current liabilities |
13.1 |
15.8 |
25.8 |
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Total liabilities (including net worth) |
43.0 |
48.0 |
51.3 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Buildings |
8.1 |
8.8 |
8.3 |
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Total tangible fixed assets |
8.4 |
9.2 |
8.8 |
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Long-term investments |
0.4 |
0.5 |
1.1 |
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Total financial assets |
0.4 |
0.5 |
1.1 |
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Total non-current assets |
8.9 |
9.7 |
10.0 |
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Finished goods |
13.5 |
21.4 |
23.8 |
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Net stocks and work in progress |
16.4 |
25.1 |
27.8 |
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Trade debtors |
9.9 |
9.9 |
8.4 |
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Other receivables |
2.7 |
1.4 |
1.1 |
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Cash and liquid assets |
5.0 |
1.8 |
3.8 |
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Accruals |
0.2 |
0.1 |
0.2 |
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Total current assets |
34.1 |
38.3 |
41.3 |
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Total assets |
43.0 |
48.0 |
51.3 |
Annual
Ratios
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Financials in:
USD (mil) |
|
|
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 |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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|
|
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Current ratio |
2.60 |
2.40 |
1.60 |
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Quick ratio |
1.40 |
0.80 |
0.50 |
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Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
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Sales per employee |
0.17 |
0.17 |
0.30 |
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Profit per employee |
0.00 |
0.02 |
0.00 |
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Average wage per employee |
0.05 |
0.04 |
0.05 |
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Net worth |
27.2 |
29.5 |
22.2 |
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Number of employees |
115 |
130 |
124 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.84 |
|
|
1 |
Rs.77.96 |
|
Euro |
1 |
Rs.65.61 |
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 |
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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 |
|
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 |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.