MIRA
INFORM REPORT
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Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
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Name : |
GRUPPO TECNOFERRARI SPA |
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Registered Office : |
Via Ghiarola Vecchia 91, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.06.1990 |
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Com. Reg. No.: |
01984990364 |
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Legal Form : |
Public Parent |
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Line of Business : |
Engaged in manufacture of machinery for working soft rubber or plastics
or for the manufacture of products of these materials. |
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No. of Employees : |
156 |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Italy has a diversified
industrial economy, which is divided into a developed industrial north,
dominated by private companies, and a less-developed, welfare-dependent,
agricultural south, with high unemployment. The Italian economy is driven in
large part by the manufacture of high-quality consumer goods produced by small
and medium-sized enterprises, many of them family owned. Italy also has a
sizable underground economy, which by some estimates accounts for as much as
17% of GDP. These activities are most common within the agriculture,
construction, and service sectors. Italy is the third-largest economy in the
euro-zone, but exceptionally high public debt burdens and structural
impediments to growth have rendered it vulnerable to scrutiny by financial
markets. Public debt has increased steadily since 2007, reaching 120% of GDP in
2011, and borrowing costs on sovereign government debt have risen to record
levels. During the second half of 2011 the government passed a series of three
austerity packages to balance its budget by 2013 and decrease its public debt
burden. These measures included a hike in the value-added tax, pension reforms,
and cuts to public administration. The government also faces pressure from
investors and European partners to address Italy's long-standing structural
impediments to growth, such as an inflexible labor market and widespread tax
evasion. The international financial crisis worsened conditions in Italy''s
labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but
in the longer-term Italy''s low fertility rate and quota-driven immigration
policies will increasingly strain its economy. The euro-zone crisis along with
Italian austerity measures have reduced exports and domestic demand, slowing
Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.
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Source : CIA |
Company name and address
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Gruppo Tecnoferrari SpA |
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Employees: |
156 |
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Company Type: |
Public Parent |
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Corporate Family: |
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Incorporation Date: |
25-Jun-1990 |
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Fiscal Year End: |
31-Dec-2011 |
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Reporting Currency: |
Euro |
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Annual Sales: |
76.8 |
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Total Assets: |
69.3 |
Business Description
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Gruppo Tecnoferrari 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 |
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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: |
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UK SIC 2003: |
2956 - Manufacture of other special purpose machinery not
elsewhere classified |
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UK SIC 2007: |
2899 - Manufacture of other special-purpose machinery
n.e.c. |
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US SIC 1987: |
Key Executives
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Registered No.(ITA)
01984990364
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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Corporate Structure News: |
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Gruppo Tecnoferrari SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Fiorano Modenese, Modena |
Italy |
Miscellaneous Capital Goods |
76.8 |
156 |
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Subsidiary |
Fiorano Modenese, Modena |
Italy |
Miscellaneous Capital Goods |
6.7 |
19 |
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
83.3 |
45.3 |
35.2 |
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Net sales |
76.8 |
43.4 |
35.9 |
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Other operating income |
1.8 |
0.9 |
0.8 |
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Raw materials and consumables employed |
48.6 |
22.6 |
15.0 |
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Other expenses |
14.4 |
10.5 |
10.7 |
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Total payroll costs |
11.9 |
9.0 |
8.9 |
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Fixed asset depreciation and amortisation |
0.5 |
0.5 |
0.5 |
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Other operating costs |
0.1 |
1.5 |
0.1 |
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Net operating
income |
7.7 |
1.2 |
-0.1 |
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Total financial
income |
0.3 |
0.2 |
0.2 |
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Total expenses |
0.0 |
0.1 |
0.2 |
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Profit before tax |
8.0 |
1.3 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
0.2 |
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Profit after extraordinary items and
before tax |
8.0 |
1.3 |
0.1 |
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Total taxation |
3.0 |
1.2 |
0.4 |
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Net profit |
5.0 |
0.1 |
- |
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Net loss |
- |
- |
0.2 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
27.0 |
26.5 |
28.2 |
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Provision for risks |
4.5 |
4.6 |
5.0 |
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Provision for pensions |
0.9 |
1.1 |
1.3 |
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Other long-term liabilities |
- |
- |
0.5 |
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Trade creditors |
20.1 |
18.7 |
11.3 |
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Other current liabilities |
16.0 |
5.3 |
3.6 |
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Accruals and deferred income |
0.8 |
0.5 |
0.9 |
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Total current
liabilities |
37.0 |
24.5 |
15.8 |
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Total
liabilities (including net worth) |
69.3 |
56.7 |
50.8 |
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Intangibles |
0.1 |
0.0 |
0.1 |
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Buildings |
0.0 |
0.0 |
0.0 |
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Total tangible
fixed assets |
0.7 |
0.7 |
0.9 |
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Long-term investments |
0.8 |
0.9 |
- |
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Total financial
assets |
1.9 |
2.0 |
1.2 |
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Receivables due after 1 year |
0.8 |
1.0 |
1.4 |
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Total
non-current assets |
3.4 |
3.6 |
3.5 |
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Finished goods |
6.9 |
2.7 |
1.7 |
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Net stocks and work in progress |
11.7 |
6.3 |
2.6 |
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Trade debtors |
34.1 |
26.8 |
19.1 |
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Other receivables |
12.9 |
10.0 |
9.2 |
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Cash and liquid assets |
7.0 |
8.6 |
14.7 |
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Marketable securities |
- |
1.3 |
1.4 |
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Accruals |
0.3 |
0.1 |
0.1 |
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Total current
assets |
65.9 |
53.1 |
47.3 |
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Total assets |
69.3 |
56.7 |
50.8 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.80 |
2.20 |
3.00 |
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Quick ratio |
1.50 |
1.90 |
2.80 |
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Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
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Sales per employee |
0.36 |
0.23 |
0.18 |
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Profit per employee |
0.04 |
0.01 |
0.00 |
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Average wage per employee |
0.06 |
0.05 |
0.04 |
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Net worth |
27.0 |
26.5 |
28.2 |
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Number of employees |
154 |
140 |
146 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.20 |
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1 |
Rs.87.79 |
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Euro |
1 |
Rs.70.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
-- |
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.