MIRA
INFORM REPORT
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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
F.O.M. INDUSTRIE SRL |
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Registered Office : |
Via Mercadante 85/87, Cattolica, 47841 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
14.01.1980 |
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Com. Reg. No.: |
00938200409 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
manufacturer of machine tools for working metal
operated by laser |
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No. of Employees : |
216 employees |
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 |
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 - 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.
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Source : CIA |
Company name & address
F.O.M. Industrie SRL
Via Mercadante 85/87
Cattolica, 47841
Italy
Tel: +39 0541 832611
Fax: +39 0541 832615
Synthesis
Employees: 216
Company Type: Private Parent
Corporate Family: 3
Companies
Incorporation Date: 14-Jan-1980
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 39.1
Total Assets: 45.0
Business Description
F.O.M. Industrie SRL is primarily engaged in manufacture of machine
tools for working metal operated by laser and the like: machining centres and
the like; manufacture of lathes, boring and milling machines for working
metals; manufacture of other machine tools for working metal; and manufacture
of parts and accessories for metalworking machine-tools.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2463 - Machine
Tool and Parts Manufacturing
NACE 2002: 2942 - Manufacture
of other metalworking machine tools
NAICS 2002: 33351 -
Metalworking Machinery Manufacturing
UK SIC 2003: 2942 - Manufacture
of other metalworking machine tools
UK SIC 2007: 2841 - Manufacture
of metal forming machinery
US SIC 1987: 3541 - Machine
Tools, Metal Cutting Types
Key Executives
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Name |
Title |
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Gianfranco Pettinari |
President |
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Sandro Valentini |
EDP manager |
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Luigi Carlini |
Purchasing manager |
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Anna Migani |
Head of accounting department |
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Claudia Puzone |
Personnel manager |
Registered
No.(ITA): 00938200409
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Via Mercadante 85/87
Cattolica, 47841
Italy
Tel: +39 0541 832611
Fax: +39 0541 832615
Sales EUR(mil): 28.1
Assets EUR(mil): 34.7
Employees: 216
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous Capital Goods
Incorporation Date: 14-Jan-1980
Company Type: Private
Parent
Quoted Status: Not
Quoted
Registered No.(ITA): 00938200409
President: Gianfranco
Pettinari
Contents
Industry Codes
Business Description
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2463 - Machine Tool and Parts Manufacturing
NACE 2002 Codes:
2942 - Manufacture of other metalworking machine tools
2943 - Manufacture of other machine tools not elsewhere classified
NAICS 2002 Codes:
33351 - Metalworking Machinery Manufacturing
US SIC 1987:
3541 - Machine Tools, Metal Cutting Types
3549 - Metalworking Machinery, Not Elsewhere Classified
UK SIC 2003:
2942 - Manufacture of other metalworking machine tools
2943 - Manufacture of other machine tools not elsewhere classified
UK SIC 2007:
2841 - Manufacture of metal forming machinery
2849 - Manufacture of other machine tools
Business
Description
F.O.M. Industrie
SRL is primarily engaged in manufacture of machine tools for working metal
operated by laser and the like: machining centres and the like; manufacture of
lathes, boring and milling machines for working metals; manufacture of other
machine tools for working metal; and manufacture of parts and accessories for
metalworking machine-tools.
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Corporate
Family |
Corporate
Structure News: |
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F.O.M. Industrie
SRL |
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F.O.M. Industrie SRL |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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F.O.M. Industrie SRL |
Parent |
Cattolica, Rimini |
Italy |
Miscellaneous Capital Goods |
39.1 |
215 |
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Imar SRL |
Subsidiary |
Manfredonia, Foggia |
Italy |
Construction - Supplies and Fixtures |
2.6 |
51 |
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Tex Computer SRL |
Subsidiary |
Cattolica, Rimini |
Italy |
Office Equipment |
5.3 |
27 |
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Executive report
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Board
of Directors |
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Executives |
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President |
President |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Head of accounting department |
Accounting Executive |
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Personnel manager |
Human Resources Executive |
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EDP manager |
Information Executive |
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Commercial manager |
Commercial Executive |
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Commercial manager |
Commercial Executive |
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Purchasing manager |
Purchasing Executive |
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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 |
42.5 |
39.6 |
35.7 |
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Net sales |
39.1 |
36.8 |
36.1 |
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Other operating income |
0.6 |
0.8 |
0.4 |
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Raw materials and consumables employed |
17.6 |
16.1 |
14.2 |
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Other expenses |
10.8 |
10.6 |
10.7 |
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Total payroll costs |
12.2 |
11.4 |
11.7 |
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Fixed asset depreciation and amortisation |
1.1 |
1.2 |
1.4 |
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Other operating costs |
0.3 |
0.3 |
0.3 |
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Net operating
income |
0.5 |
0.0 |
-2.6 |
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Total financial
income |
0.0 |
0.0 |
0.1 |
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Total expenses |
0.7 |
0.4 |
0.6 |
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Profit before tax |
-0.2 |
-0.4 |
-3.2 |
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Extraordinary result |
-0.3 |
0.6 |
0.6 |
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Profit after extraordinary items and
before tax |
-0.5 |
0.2 |
-2.5 |
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Total taxation |
0.4 |
0.4 |
-0.6 |
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Net loss |
0.9 |
0.2 |
1.9 |
Annual Balance
Sheet
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 |
9.6 |
9.5 |
10.4 |
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Provision for risks |
0.5 |
0.2 |
0.3 |
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Provision for pensions |
1.6 |
1.8 |
2.0 |
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Mortgages and loans |
1.4 |
1.5 |
2.6 |
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Other long-term liabilities |
4.1 |
3.6 |
3.5 |
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Trade creditors |
5.2 |
8.6 |
5.7 |
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Bank loans and overdrafts |
16.6 |
13.8 |
15.1 |
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Other current liabilities |
5.9 |
6.0 |
5.1 |
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Accruals and deferred income |
0.1 |
0.1 |
0.1 |
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Total current
liabilities |
27.8 |
28.4 |
26.0 |
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Total
liabilities (including net worth) |
45.0 |
44.9 |
44.7 |
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Intangibles |
3.6 |
2.5 |
2.1 |
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Buildings |
4.1 |
2.2 |
2.4 |
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Total tangible fixed
assets |
5.8 |
4.1 |
4.7 |
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Long-term investments |
3.7 |
3.0 |
2.5 |
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Total financial
assets |
5.5 |
5.0 |
4.0 |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Loans to associated companies |
1.8 |
2.0 |
1.4 |
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Total
non-current assets |
14.8 |
11.7 |
10.8 |
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Finished goods |
6.6 |
6.3 |
6.0 |
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Net stocks and work in progress |
13.5 |
13.2 |
14.0 |
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Trade debtors |
13.5 |
15.9 |
16.1 |
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Other receivables |
3.1 |
3.3 |
2.0 |
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Cash and liquid assets |
0.1 |
0.4 |
1.3 |
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Accruals |
0.1 |
0.3 |
0.5 |
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Total current
assets |
30.2 |
33.2 |
33.9 |
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Total assets |
45.0 |
44.9 |
44.7 |
Annual Ratios
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 |
1.10 |
1.20 |
1.30 |
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Quick ratio |
0.60 |
0.70 |
0.80 |
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Current liabilities to net worth |
0.03% |
0.03% |
0.03% |
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Sales per employee |
0.13 |
0.13 |
0.11 |
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Profit per employee |
0.00 |
0.00 |
-0.01 |
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Average wage per employee |
0.04 |
0.04 |
0.04 |
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Net worth |
9.6 |
9.5 |
10.4 |
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Number of employees |
216 |
222 |
232 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.58 |
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UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.