MIRA
INFORM REPORT
|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEP PELLEGRINI MARINE EQUIPMENTS SRL |
|
|
|
|
Registered Office : |
Via Evangelista Torricelli 2/A Verona, 37135 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.01.1982 |
|
|
|
|
Reg. No.: |
01404500231 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Manufacture of hand operated or power driven lifting,
handling, loading or unloading machinery |
|
|
|
|
No. of Employees : |
52 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITALY - ECONOMIC OVERVIEW
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.
|
Source : CIA |
COMPANY NAME AND ADDRESS
MEP
PELLEGRINI MARINE EQUIPMENTS SRL
Via Evangelista Torricelli 2/A
Verona, 37135
Italy
Tel: +39
045 508877
Fax: +39
045 508855
Employees: 52
Company Type: Private
Independent
Incorporation Date: 14-Jan-1982
Financials in: USD (In millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 29.1
Total Assets: 35.9
Business Description
Mep Pellegrini Marine Equipments SRL is primarily engaged in manufacture of hand operated or power driven lifting, handling, loading or unloading machinery (pulley tackle and hoists, winches, capstans and jacks; derricks, cranes, mobile lifting frames, straddle carriers, etc.; works trucks, whether or not fitted with lifting or handling equipment whether or not self-propelled, of the type used in factories;mechanical manipulators and industrial robots specifically designed for lifting, handling, loading or unloading); manufacture of conveyors, teleferics, etc.; and manufacture of lifts, escalators and moving walkways. This class also includes: maintenance of lifts and escalators.
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
|
|
NAICS 2002: |
|
|
UK SIC 2003: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
3536 -
Overhead Traveling Cranes, Hoists, and Monorail Systems |
Key Executives
|
Name |
Title |
|
Renzo Soave |
Purchasing manager |
|
Giuliano Moretti |
Commercial manager |
|
Giovanni Quartucci |
Manager |
|
Patrizia Pellegrini |
Member of the board |
Registered No.(ITA): 01404500231
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Evangelista Torricelli 2/A
Verona, 37135
Italy
Tel: +39
045 508877
Fax: +39
045 508855
Sales EUR(mil): 20.9
Assets EUR(mil): 27.7
Employees: 52
Fiscal Year End: 31-Dec-2011
Industry: Construction
and Agriculture Machinery
Incorporation Date: 14-Jan-1982
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 01404500231
Purchasing manager: Renzo Soave
Industry
Codes
|
ANZSIC 2006 Codes: |
||
|
2462 |
- |
Mining and Construction Machinery Manufacturing |
|
NACE 2002 Codes: |
||
|
2922 |
- |
Manufacture of lifting and handling equipment |
|
NAICS 2002 Codes: |
||
|
33392 |
- |
Material Handling Equipment Manufacturing |
|
US SIC 1987: |
||
|
3536 |
- |
Overhead Traveling Cranes, Hoists, and Monorail Systems |
|
UK SIC 2003: |
||
|
2922 |
- |
Manufacture of lifting and handling equipment |
|
UK SIC 2007: |
||
|
2822 |
- |
Manufacture of lifting and handling equipment |
Business
Description
Mep Pellegrini Marine Equipments SRL is primarily engaged in manufacture of hand operated or power driven lifting, handling, loading or unloading machinery (pulley tackle and hoists, winches, capstans and jacks; derricks, cranes, mobile lifting frames, straddle carriers, etc.; works trucks, whether or not fitted with lifting or handling equipment whether or not self-propelled, of the type used in factories;mechanical manipulators and industrial robots specifically designed for lifting, handling, loading or unloading); manufacture of conveyors, teleferics, etc.; and manufacture of lifts, escalators and moving walkways. This class also includes: maintenance of lifts and escalators.
Financial
Data
|
Financials in: |
EUR(mil) |
1 Year Growth |
|
Revenue: |
20.9 |
6.1% |
|
Assets: |
27.7 |
NA |
|
Current Assets: |
20.5 |
|
|
Total Liabilities: |
27.7 |
|
|
Net Worth: |
4.1 |
|
|
Date of Financial
Data: |
31-Dec-2011 |
Subsidiaries
|
|
|
|
|
|
Company |
Percentage Owned |
Country |
|
Pellegrini Elettronica SRL |
|
|
Key Corporate Relationships
Bank: Banca Nazionale del Lavoro Sede di Verona
Board of Directors
|
|
|
|||
|
Commercial manager |
Director/Board Member |
|||
|
Member of the board |
Director/Board Member |
|||
|
Manager |
Director/Board Member |
Executives
|
|
|
|||
|
Commercial manager |
Commercial Executive |
|||
|
Purchasing manager |
Purchasing Executive |
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
32.4 |
29.5 |
27.4 |
|
Net sales |
29.1 |
26.1 |
24.1 |
|
Other operating income |
2.6 |
3.4 |
2.4 |
|
Raw materials and consumables employed |
14.7 |
12.7 |
12.4 |
|
Other expenses |
7.6 |
8.0 |
6.3 |
|
Total payroll costs |
4.0 |
3.5 |
3.4 |
|
Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.2 |
|
Other operating costs |
0.2 |
0.1 |
0.8 |
|
Net operating
income |
5.8 |
5.1 |
4.3 |
|
Total financial
income |
0.1 |
0.2 |
0.0 |
|
Total expenses |
0.3 |
0.2 |
0.2 |
|
Profit before tax |
5.6 |
5.1 |
4.1 |
|
Extraordinary result |
-0.1 |
-0.1 |
0.4 |
|
Profit after extraordinary items and
before tax |
5.4 |
5.0 |
4.5 |
|
Total taxation |
2.3 |
1.8 |
1.7 |
|
Net profit |
3.1 |
3.2 |
2.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total
stockholders equity |
5.3 |
5.5 |
4.9 |
|
Provision for risks |
1.3 |
1.0 |
0.8 |
|
Provision for pensions |
0.7 |
0.7 |
0.7 |
|
Mortgages and loans |
4.2 |
2.8 |
0.5 |
|
Other long-term liabilities |
0.4 |
0.4 |
0.4 |
|
Trade creditors |
8.2 |
5.4 |
5.8 |
|
Bank loans and overdrafts |
8.4 |
5.0 |
4.7 |
|
Other current liabilities |
7.1 |
8.4 |
12.8 |
|
Accruals and deferred income |
0.2 |
0.2 |
0.3 |
|
Total current
liabilities |
24.0 |
19.0 |
23.6 |
|
Total
liabilities (including net worth) |
35.9 |
29.4 |
30.9 |
|
Intangibles |
0.0 |
0.0 |
0.1 |
|
Total tangible
fixed assets |
1.7 |
1.6 |
0.4 |
|
Long-term investments |
3.3 |
2.3 |
2.3 |
|
Total financial
assets |
4.9 |
3.6 |
3.6 |
|
Receivables due after 1 year |
2.7 |
2.8 |
3.0 |
|
Loans to associated companies |
1.5 |
1.2 |
1.3 |
|
Total
non-current assets |
9.3 |
8.0 |
7.0 |
|
Finished goods |
5.5 |
5.0 |
5.3 |
|
Net stocks and work in progress |
12.1 |
11.7 |
11.9 |
|
Trade debtors |
4.4 |
4.7 |
6.1 |
|
Other receivables |
5.6 |
1.4 |
1.6 |
|
Cash and liquid assets |
4.4 |
3.3 |
4.2 |
|
Accruals |
0.1 |
0.2 |
0.1 |
|
Total current
assets |
26.6 |
21.4 |
23.9 |
|
Total assets |
35.9 |
29.4 |
30.9 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.10 |
1.10 |
1.00 |
|
Quick ratio |
0.60 |
0.50 |
0.50 |
|
Current liabilities to net worth |
0.05% |
0.04% |
0.05% |
|
Sales per employee |
0.39 |
0.39 |
0.37 |
|
Profit per employee |
0.07 |
0.08 |
0.07 |
|
Average wage per employee |
0.05 |
0.05 |
0.05 |
|
Net worth |
5.3 |
5.5 |
4.9 |
|
Number of employees |
53 |
50 |
47 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.