MIRA
INFORM REPORT
|
Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BREVIGLIERI SPA |
|
|
|
|
Registered Office : |
Via Labriola 2, Nogara, 37054 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
18.12.1976 |
|
|
|
|
Com. Reg. No.: |
00725040232 |
|
|
|
|
Legal Form : |
Public Independent Company |
|
|
|
|
Line of Business : |
manufacture
of mowers including lawn mowers |
|
|
|
|
No. of Employees : |
52 employees |
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 : |
Slow but Correct |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 & address
Breviglieri SpA
Via Labriola 2
Nogara, 37054
Italy
Tel: +39 0442 537411
Fax: +39 0442 537444
Synthesis
Employees: 52
Company Type: Public Independent
Incorporation Date:
18-Dec-1976
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 11.2
Total Assets: 10.1
Business Description
Breviglieri SpA is primarily engaged in manufacture of mowers including lawn mowers; manufacture of agricultural self-loading or self-unloading trailers or semi-trailers; manufacture of agricultural machinery for soil preparation, planting or fertilising (ploughs, manure spreaders, seeders, harrows, etc.); manufacture of harvesting or threshing machinery (harvesters, threshers, sorters, etc.); manufacture of milking machines; manufacture of spraying machinery for agricultural use; and manufacture of diverse agricultural machinery (poultry keeping machinery, bee-keeping machinery, equipment for preparing fodder, etc.; and machines for cleaning, sorting or grading eggs, fruit, seed, grain, etc.).
Industry
Industry Construction and Agriculture
Machinery
ANZSIC 2006: 2461 -
Agricultural Machinery and Equipment Manufacturing
NACE 2002: 2932 - Manufacture
of other agricultural and forestry machinery
NAICS 2002: 33311 -
Agricultural Implement Manufacturing
UK SIC 2003: 2932 - Manufacture
of other agricultural and forestry machinery
UK SIC 2007: 28302 -
Manufacture of agricultural and forestry machinery (other than agricultural
tractors)
US SIC 1987: 3523 - Farm Machinery
and Equipment
Key Executives
|
Name |
Title |
|
Luciana Breviglieri |
President |
|
Nicola Abati |
Member of the board |
|
Bruno Bocchi |
Member of the board |
Registered No.(ITA): 00725040232
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 Labriola 2
Nogara, 37054
Italy
Tel: +39 0442 537411
Fax: +39 0442 537444
Sales EUR(mil): 8.5
Assets EUR(mil): 7.5
Employees: 52
Fiscal Year End: 31-Dec-2010
Industry: Construction
and Agriculture Machinery
Incorporation Date: 18-Dec-1976
Company Type: Public
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 00725040232
President: Luciana
Breviglieri
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2461 - Agricultural Machinery and Equipment Manufacturing
4279 - Other Store-Based Retailing Not Elsewhere Classified
6921 - Architectural Services
NACE 2002 Codes:
2932 - Manufacture of other agricultural and forestry machinery
0141 - Agricultural service activities; landscape gardening
5248 - Other retail sale in specialised stores
NAICS 2002 Codes:
33311 - Agricultural Implement Manufacturing
541320 - Landscape Architectural Services
453 - Miscellaneous Store Retailers
US SIC 1987:
3523 - Farm Machinery and Equipment
599 - Retail Stores, Not Elsewhere Classified
078 - Landscape and Horticultural Services
UK SIC 2003:
2932 - Manufacture of other agricultural and forestry machinery
5248 - Other retail sale in specialised stores
0141 - Agricultural service activities; landscape gardening
UK SIC 2007:
28302 - Manufacture of agricultural and forestry machinery (other
than agricultural tractors)
477 - Retail sale of other goods in specialised stores
0161 - Support activities for crop production
Business
Description
Breviglieri SpA is
primarily engaged in manufacture of mowers including lawn mowers; manufacture
of agricultural self-loading or self-unloading trailers or semi-trailers;
manufacture of agricultural machinery for soil preparation, planting or
fertilising (ploughs, manure spreaders, seeders, harrows, etc.); manufacture of
harvesting or threshing machinery (harvesters, threshers, sorters, etc.);
manufacture of milking machines; manufacture of spraying machinery for
agricultural use; and manufacture of diverse agricultural machinery (poultry
keeping machinery, bee-keeping machinery, equipment for preparing fodder, etc.;
and machines for cleaning, sorting or grading eggs, fruit, seed, grain, etc.).
|
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
Executive report
|
Board
of Directors |
|
|
|
|
|||
|
Member of the board |
Director/Board Member |
|
|||
|
Member of the board |
Director/Board Member |
|
|
Executives |
|
|
|
|
||||
|
President |
President |
|
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 |
11.6 |
10.8 |
16.7 |
|
Net sales |
11.2 |
10.9 |
14.7 |
|
Other operating income |
0.1 |
0.1 |
2.0 |
|
Raw materials and consumables employed |
5.8 |
5.7 |
8.4 |
|
Other expenses |
2.7 |
2.5 |
2.6 |
|
Total payroll costs |
2.3 |
2.5 |
2.9 |
|
Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.3 |
|
Other operating costs |
0.1 |
0.1 |
0.2 |
|
Net operating
income |
0.4 |
-0.2 |
2.4 |
|
Total financial
income |
0.0 |
0.0 |
0.1 |
|
Total expenses |
0.1 |
0.1 |
0.5 |
|
Profit before tax |
0.4 |
-0.2 |
2.1 |
|
Extraordinary result |
-0.1 |
0.0 |
-0.4 |
|
Profit after extraordinary items and
before tax |
0.3 |
-0.3 |
1.7 |
|
Total taxation |
0.1 |
0.1 |
0.1 |
|
Net profit |
0.2 |
- |
1.6 |
|
Net loss |
- |
0.3 |
- |
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 |
3.3 |
3.4 |
3.6 |
|
Provision for risks |
0.2 |
0.2 |
0.2 |
|
Provision for pensions |
1.0 |
1.0 |
0.9 |
|
Mortgages and loans |
- |
0.0 |
0.2 |
|
Trade creditors |
3.4 |
3.0 |
3.1 |
|
Bank loans and overdrafts |
1.6 |
1.7 |
4.0 |
|
Other current liabilities |
0.5 |
0.7 |
0.8 |
|
Accruals and deferred income |
0.0 |
0.0 |
0.1 |
|
Total current
liabilities |
5.6 |
5.3 |
7.9 |
|
Total
liabilities (including net worth) |
10.1 |
9.9 |
12.8 |
|
Intangibles |
0.3 |
0.1 |
0.1 |
|
Total tangible
fixed assets |
0.4 |
0.4 |
0.4 |
|
Long-term investments |
0.2 |
0.2 |
0.2 |
|
Total financial
assets |
0.2 |
0.2 |
0.2 |
|
Receivables due after 1 year |
- |
0.0 |
0.0 |
|
Total
non-current assets |
0.8 |
0.7 |
0.7 |
|
Finished goods |
4.3 |
4.3 |
4.3 |
|
Net stocks and work in progress |
5.0 |
4.9 |
4.9 |
|
Trade debtors |
3.1 |
3.0 |
4.0 |
|
Other receivables |
0.5 |
0.5 |
0.5 |
|
Cash and liquid assets |
0.1 |
0.2 |
2.0 |
|
Accruals |
0.6 |
0.6 |
0.6 |
|
Total current
assets |
9.2 |
9.2 |
12.0 |
|
Total assets |
10.1 |
9.9 |
12.8 |
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 |
1.70 |
1.70 |
1.50 |
|
Quick ratio |
0.80 |
0.80 |
0.90 |
|
Current liabilities to net worth |
0.02% |
0.02% |
0.02% |
|
Sales per employee |
0.16 |
0.15 |
0.18 |
|
Profit per employee |
0.00 |
0.00 |
0.02 |
|
Average wage per employee |
0.03 |
0.03 |
0.03 |
|
Net worth |
3.3 |
3.4 |
3.6 |
|
Number of employees |
52 |
53 |
55 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.26 |
|
UK Pound |
1 |
Rs.88.85 |
|
Euro |
1 |
Rs.71.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.