MIRA
INFORM REPORT
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Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
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Name : |
TECNIMONT SPA |
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Registered Office : |
Viale Monte Grappa, Milano, 20124 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.11.1960 |
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Com. Reg. No.: |
01628410159 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Engineering and in the Construction of Industrial Plants |
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No. of Employees : |
1,346 |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Italy |
A2 |
A |
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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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Tecnimont SpA |
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Employees: 1,346
Company Type: Public Subsidiary
Corporate Family: 8 Companies
Ultimate Parent: Maire Holding S P
A
Incorporation Date: 23-Nov-1960
Auditor: Deloitte & Touche SpA
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 1,317.8
Total Assets: 11,204.4
Business Description
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Head of a Group of Companies with interests in engineering and in the
construction of industrial plants |
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Industry |
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Industry |
Miscellaneous Financial Services |
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ANZSIC 2006: |
6240 - Financial Asset Investing |
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NACE 2002: |
7415 - Management activities of holding
companies |
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NAICS 2002: |
551112 - Offices of Other Holding
Companies |
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UK SIC 2003: |
7415 - Management activities of holding
companies |
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US SIC 1987: |
6719 - Offices of Holding Companies, Not
Elsewhere Classified |
Key Executives
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News |
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Registered No.(ITA)
01628410159
Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
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Quote Symbol - Exchange |
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MT - Milano |
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Sales EUR(mil): |
995.0 |
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Assets EUR(mil): |
8,351.9 |
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Employees: |
1,346 |
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Fiscal Year End: |
31-Dec-2010 |
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Industry: |
Miscellaneous
Financial Services |
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Incorporation
Date: |
23-Nov-1960 |
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Company Type: |
Public
Subsidiary |
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Quoted Status: |
Not Quoted |
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Previous Name: |
Tecnimont SpA |
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Registered No.(ITA): |
01628410159 |
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Presidente: |
Rosario Alessandrello |
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ANZSIC 2006 Codes: |
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3020 |
- |
Non-Residential Building Construction |
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6923 |
- |
Engineering Design and Engineering Consulting Services |
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6240 |
- |
Financial Asset Investing |
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NACE 2002 Codes: |
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4521 |
- |
General construction of buildings and civil engineering works |
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7420 |
- |
Architectural and engineering activities and related technical
consultancy |
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7415 |
- |
Management activities of holding companies |
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NAICS 2002 Codes: |
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551112 |
- |
Offices of Other Holding Companies |
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541330 |
- |
Engineering Services |
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236210 |
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Industrial Building Construction |
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US SIC 1987: |
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6719 |
- |
Offices of Holding Companies, Not Elsewhere Classified |
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1541 |
- |
General Contractors-Industrial Buildings and Warehouses |
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8711 |
- |
Engineering Services |
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UK SIC 2003: |
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74204 |
- |
Engineering consultative and design activities |
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7415 |
- |
Management activities of holding companies |
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45212 |
- |
Construction of domestic buildings |
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Head of a Group of Companies with interests in engineering and in the
construction of industrial plants |
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Financials in: |
EUR(mil) |
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Revenue: |
995.0 |
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Assets: |
8,351.9 |
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Current Assets: |
7,986.0 |
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Total Liabilities: |
8,351.9 |
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Net Worth: |
105.5 |
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Date of Financial Data: |
31-Dec-2010 |
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1 Year Growth |
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-25.7% |
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NA |
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Company |
Percentage Owned |
Country |
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Met NewEN SpA |
100% |
ITALY |
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Maire Tecnimont BV |
100% |
NETHERLANDS |
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Technimont SpA |
100% |
ITALY |
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Met Development SpA |
100% |
ITALY |
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Protecma SRL |
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M.S.T. Manutenzioni & Servizi Tecnici SRL |
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Transfima SpA |
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Auditor: |
Deloitte & Touche SpA |
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Bank: |
Intesa Sanpaolo |
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Auditor: |
Deloitte & Touche SpA |
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Tecnimont SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Maire Holding S P A |
Parent |
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Subsidiary |
Milano, MI |
Italy |
Miscellaneous Financial Services |
1,317.8 |
1,346 |
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Subsidiary |
Milano |
Italy |
Engineering Consultants |
1,314.3 |
1,554 |
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Subsidiary |
Neuilly Sur Seine |
France |
Engineering Consultants |
54.9 |
136 |
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Branch |
Chaoyang District, Beijing |
China |
Construction Services |
26.0 |
100 |
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Subsidiary |
Roma, Roma |
Italy |
Construction Services |
17.6 |
79 |
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Subsidiary |
Mahboula |
Kuwait |
Construction Services |
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Subsidiary |
Mumbai |
India |
Construction Services |
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Executives Report
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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 |
1,354.9 |
1,929.5 |
2,593.8 |
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Net sales |
1,317.8 |
1,863.6 |
2,545.3 |
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Other operating income |
36.7 |
66.0 |
48.5 |
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Raw materials and consumables employed |
263.9 |
632.6 |
1,224.2 |
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Other expenses |
815.8 |
1,012.5 |
968.7 |
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Total payroll costs |
196.7 |
217.7 |
198.1 |
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Fixed asset depreciation and amortisation |
21.9 |
29.6 |
34.2 |
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Other operating costs |
49.7 |
9.7 |
49.1 |
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Net operating income |
6.9 |
27.4 |
119.6 |
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Total financial income |
29.6 |
77.2 |
91.5 |
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Total expenses |
28.9 |
63.3 |
33.8 |
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Profit before tax |
7.6 |
41.3 |
177.3 |
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Extraordinary result |
1.7 |
-2.4 |
-7.3 |
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Profit after extraordinary items and before tax |
9.3 |
38.9 |
169.9 |
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Total taxation |
7.2 |
24.7 |
59.3 |
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Net profit |
2.1 |
14.2 |
110.6 |
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 |
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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 |
141.6 |
182.0 |
212.7 |
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Provision for risks |
13.4 |
43.2 |
38.9 |
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Provision for pensions |
22.6 |
26.2 |
28.3 |
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Mortgages and loans |
114.0 |
150.6 |
183.0 |
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Other long-term liabilities |
25.5 |
34.8 |
7,357.0 |
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Trade creditors |
371.7 |
442.0 |
796.5 |
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Advances received |
9,649.0 |
10,113.5 |
8,007.1 |
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Bank loans and overdrafts |
127.4 |
38.3 |
44.6 |
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Other current liabilities |
737.1 |
449.5 |
-6,628.7 |
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Accruals and deferred income |
2.0 |
1.7 |
4.5 |
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Total current liabilities |
10,887.3 |
11,045.0 |
2,224.0 |
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Total liabilities (including net worth) |
11,204.4 |
11,481.8 |
10,043.9 |
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Intangibles |
164.1 |
195.0 |
216.8 |
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Buildings |
0.1 |
0.1 |
0.1 |
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Total tangible fixed assets |
1.9 |
2.8 |
3.5 |
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Long-term investments |
187.5 |
202.4 |
194.2 |
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Total financial assets |
187.5 |
202.4 |
194.2 |
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Receivables due after 1 year |
137.2 |
132.0 |
100.5 |
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Total non-current assets |
490.8 |
532.2 |
515.0 |
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Work in progress |
9,708.5 |
9,978.6 |
8,330.9 |
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Net stocks and work in progress |
9,821.2 |
10,129.5 |
8,511.9 |
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Trade debtors |
388.4 |
311.6 |
433.6 |
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Other receivables |
442.2 |
378.9 |
221.5 |
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Cash and liquid assets |
60.9 |
128.2 |
352.3 |
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Accruals |
1.0 |
1.5 |
9.6 |
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Total current assets |
10,713.7 |
10,949.6 |
9,528.9 |
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Total assets |
11,204.4 |
11,481.8 |
10,043.9 |
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 |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.00 |
1.00 |
4.30 |
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Quick ratio |
0.10 |
0.10 |
0.50 |
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Current liabilities to net worth |
0.77% |
0.61% |
0.11% |
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Sales per employee |
0.58 |
0.81 |
1.07 |
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Profit per employee |
0.00 |
0.02 |
0.07 |
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Average wage per employee |
0.09 |
0.09 |
0.08 |
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Net worth |
141.6 |
182.0 |
212.7 |
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Number of employees |
1,730 |
1,651 |
1,554 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.84 |
|
|
1 |
Rs.77.96 |
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Euro |
1 |
Rs.65.61 |
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 |
|
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 |
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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 |
-- |
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.