MIRA INFORM REPORT

 

 

Report Date :

28.09.2012

 

IDENTIFICATION DETAILS

 

Name :

MARMI MOLVINA SRL

 

 

Registered Office :

 

Localita' Caselle Snc Nuvolera, 25080

 

 

 

 

Country :

Italy

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

14.01.2005

 

 

 

 

Com. Reg. No.:

02599960982

 

 

 

 

Legal Form :

Private Independent

 

 

 

 

Line of Business :

Engaged in mining and quarrying of various minerals and materials: abrasive materials, asbestos, siliceous fossil meals, natural graphite, steatite (talc), feldspar, etc.; gem stones, quartz, mica, etc.; and natural asphalt and bitumen.

 

 

 

 

No. of Employees :

6

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 – 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 Top of Form

Bottom of Form



Marmi Molvina SRL

                                                                                                                                                  

 

Localita' Caselle Snc

 

 

Nuvolera, 25080

Italy

 

Tel:

+39 0302 591466

Fax:

+39 0302 590002

 

 

 

Employees:

6

Company Type:

Private Independent

 

 

Incorporation Date:

14-Jan-2005

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2011

Reporting Currency:

Euro

Annual Sales:

8.2

Total Assets:

4.1

                                      

Business Description       

 

Marmi Molvina SRL is primarily engaged in mining and quarrying of various minerals and materials: abrasive materials, asbestos, siliceous fossil meals, natural graphite, steatite (talc), feldspar, etc.; gem stones, quartz, mica, etc.; and natural asphalt and bitumen.

          

Industry                                                                                                                               

 

Industry

Non-Metallic Mining

ANZSIC 2006:

0990 - Other Non-Metallic Mineral Mining and Quarrying

NACE 2002:

1450 - Other mining and quarrying not elsewhere classified

NAICS 2002:

212399 - All Other Nonmetallic Mineral Mining

UK SIC 2003:

1450 - Other mining and quarrying not elsewhere classified

UK SIC 2007:

0899 - Other mining and quarrying n.e.c.

US SIC 1987:

1429 - Crushed and Broken Stone, Not Elsewhere Classified

                      

Key Executives           

   

 

Name

Title

Bortolo Torri

President

Paola Simbeni

Member of the board

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
Localita' Caselle Snc
Nuvolera, 25080
Italy

 

Tel:

+39 0302 591466

Fax:

+39 0302 590002

 

Suggest Company URL

 

Sales EUR(mil):

5.9

Assets EUR(mil):

3.1

Employees:

6

Fiscal Year End:

31-Dec-2011

 

Industry:

Non-Metallic Mining

Incorporation Date:

14-Jan-2005

Company Type:

Private Independent

Quoted Status:

Not Quoted

Registered No.(ITA):

02599960982

 

President:

Bortolo Torri

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

0990

-

Other Non-Metallic Mineral Mining and Quarrying

333

-

Timber and Hardware Goods Wholesaling

2090

-

Other Non-Metallic Mineral Product Manufacturing

3739

-

Other Goods Wholesaling Not Elsewhere Classified

 

NACE 2002 Codes:

1450

-

Other mining and quarrying not elsewhere classified

5190

-

Other wholesale

2670

-

Cutting, shaping and finishing of ornamental and building stone

5153

-

Wholesale of wood, construction materials and sanitary equipment

 

NAICS 2002 Codes:

212399

-

All Other Nonmetallic Mineral Mining

4233

-

Lumber and Other Construction Materials Merchant Wholesalers

327991

-

Cut Stone and Stone Product Manufacturing

423990

-

Other Miscellaneous Durable Goods Merchant Wholesalers

 

US SIC 1987:

1429

-

Crushed and Broken Stone, Not Elsewhere Classified

5099

-

Durable Goods, Not Elsewhere Classified

3281

-

Cut Stone and Stone Products

503

-

Lumber and Other Construction Materials

 

UK SIC 2003:

1450

-

Other mining and quarrying not elsewhere classified

5190

-

Other wholesale

2670

-

Cutting, shaping and finishing of ornamental and building stone

5153

-

Wholesale of wood, construction materials and sanitary equipment

 

UK SIC 2007:

0899

-

Other mining and quarrying n.e.c.

4673

-

Wholesale of wood, construction materials and sanitary equipment

2370

-

Cutting, shaping and finishing of stone

4690

-

Non-specialised wholesale trade

 

 

Business Description

Marmi Molvina SRL is primarily engaged in mining and quarrying of various minerals and materials: abrasive materials, asbestos, siliceous fossil meals, natural graphite, steatite (talc), feldspar, etc.; gem stones, quartz, mica, etc.; and natural asphalt and bitumen.

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

EUR(mil)

 

Revenue:

5.9

Assets:

3.1

Current Assets:

1.7

 

Total Liabilities:

3.1

 

Net Worth:

0.6

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

8.7%

NA

 

Key Corporate Relationships

Bank:

Ubi Banco di Brescia Ag

 

 

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Paola Simbeni

 

Member of the board

Director/Board Member

 

Executives

 

Name

Title

Function

Bortolo Torri

 

President

President

Stefano Torri

 

Managing director

Managing Director

 

 

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

8.2

7.2

5.1

Net sales

8.2

7.2

5.1

Other operating income

-

0.0

0.0

Raw materials and consumables employed

5.2

4.2

2.8

Other expenses

2.3

2.4

1.7

Total payroll costs

0.3

0.3

0.3

Fixed asset depreciation and amortisation

0.1

0.1

0.1

Other operating costs

0.0

0.0

0.1

Net operating income

0.3

0.3

0.2

Total financial income

0.0

0.0

0.0

Total expenses

0.0

0.0

0.0

Profit before tax

0.3

0.2

0.2

Extraordinary result

0.0

0.0

0.0

Profit after extraordinary items and before tax

0.3

0.2

0.2

Total taxation

0.1

0.1

0.1

Net profit

0.2

0.1

0.1

 

 

 

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

0.8

0.7

0.6

Provision for pensions

0.1

0.1

0.1

Other long-term liabilities

1.5

1.2

0.9

Trade creditors

1.4

2.0

1.4

Other current liabilities

0.1

0.1

0.2

Accruals and deferred income

0.0

0.0

-

Total current liabilities

1.6

2.1

1.6

Total liabilities (including net worth)

4.1

4.1

3.1

Intangibles

-

0.0

0.1

Total tangible fixed assets

0.1

0.2

0.1

Total financial assets

0.1

0.0

-

Receivables due after 1 year

1.5

1.2

0.9

Total non-current assets

1.8

1.4

1.0

Net stocks and work in progress

0.2

0.1

0.1

Trade debtors

1.4

1.9

-

Other receivables

0.2

0.3

1.6

Cash and liquid assets

0.5

0.3

0.3

Accruals

0.0

-

-

Total current assets

2.2

2.6

2.1

Total assets

4.1

4.1

3.1

 

 

 

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

1.40

1.30

1.30

Quick ratio

1.30

1.20

1.20

Current liabilities to net worth

0.02%

0.03%

0.03%

Sales per employee

-

0.90

0.61

Average wage per employee

-

0.03

0.03

Net worth

0.8

0.7

0.6

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.25

UK Pound

1

Rs.86.23

Euro

1

Rs.68.64

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.