MIRA INFORM REPORT
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Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
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Name : |
R.E.D. GRANITI S.P.A. |
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Registered Office : |
12 Via Dorsale, Massa, 51400 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.05.2000 |
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Com. Reg. No.: |
13161430155 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
wholesaler of paint and varnish wholesaler
of wood in the rough |
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No. of Employees : |
43 |
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 : |
Slow but Correct |
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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
R.E.D. Graniti S.p.A.
12 Via Dorsale
Massa, 51400
Italy
Tel: 39-0585791066
Fax: +39 0585 884848
Web: www.redgraniti.com
Synthesis
Employees: 43
Company Type: Public Parent
Corporate Family: 2
Companies
Incorporation Date:
24-May-2000
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 101.8
Total Assets: 226.2
Business Description
R.E.D. Graniti SpA is primarily engaged in wholesale of paint and varnish; wholesale of wood in the rough; wholesale of products of primary processing of wood; wholesale of construction materials (sand, gravel); wholesale of flat glass; and wholesale of sanitary equipment (baths, washbasins, toilets and other sanitary porcelain).
Industry
Industry Construction - Raw Materials
ANZSIC 2006: 0919 - Other
Construction Material Mining
NACE 2002: 1411 - Quarrying of
ornamental and building stone
NAICS 2002: 212313 - Crushed
and Broken Granite Mining and Quarrying
UK SIC 2003: 1411 - Quarrying
of ornamental and building stone
UK SIC 2007: 0811 - Quarrying of
ornamental and building stone, limestone, gypsum, chalk and slate
US SIC 1987: 1423 - Crushed and
Broken Granite
Key Executives
|
Name |
Title |
|
Franca Conti |
President |
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Massimo Pezzana |
Manager-Accounts |
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Enrico Bogazzi |
Member of the board |
|
Daniela Conti |
Member of the board |
News
|
Title |
Date |
|
Envoy Stresses
on 'Increased' Italian Presence in Zimbabwe's Business Sector |
30-Jun-2012 |
|
R.E.D. Granitti's
StonEvolution is formed |
4-Jun-2012 |
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
12 Via Dorsale
Massa, 51400
Italy
Tel: 39-0585791066
Fax: +39 0585 884848
Web: www.redgraniti.com
Sales EUR(mil): 73.2
Assets EUR(mil): 174.3
Employees: 43
Fiscal Year End: 31-Dec-2011
Industry: Construction
- Raw Materials
Incorporation Date: 24-May-2000
Company Type: Public
Parent
Quoted Status: Not
Quoted
Registered No.(ITA): 13161430155
President: Franca
Conti
Industry Codes
ANZSIC 2006 Codes:
0919 - Other Construction Material Mining
NACE 2002 Codes:
1411 - Quarrying of ornamental and building stone
NAICS 2002 Codes:
212313 - Crushed and Broken Granite Mining and Quarrying
US SIC 1987:
1423 - Crushed and Broken Granite
UK SIC 2003:
1411 - Quarrying of ornamental and building stone
UK SIC 2007:
0811 - Quarrying of ornamental and building stone, limestone,
gypsum, chalk and slate
Business
Description
Granite Production
More Business
Descriptions
R.E.D. Graniti SpA is primarily engaged in wholesale of paint and varnish; wholesale of wood in the rough; wholesale of products of primary processing of wood; wholesale of construction materials (sand, gravel); wholesale of flat glass; and wholesale of sanitary equipment (baths, washbasins, toilets and other sanitary porcelain).
Tile and Terrazzo Contractors
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Corporate Family |
Corporate
Structure News: |
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R.E.D.
Graniti S.p.A. |
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R.E.D. Graniti S.p.A. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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R.E.D. Graniti S.p.A. |
Parent |
Massa, MS |
Italy |
Construction - Raw Materials |
101.8 |
40 |
|
|
Finska Stenindustri AB |
Subsidiary |
Vinkkila |
Finland |
Construction - Raw Materials |
9.9 |
4 |
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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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Manager-Accounts |
Accounting 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 |
103.0 |
99.5 |
88.8 |
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Net sales |
101.8 |
98.4 |
87.8 |
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Other operating income |
1.2 |
1.0 |
1.0 |
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Raw materials and consumables employed |
59.2 |
58.9 |
45.5 |
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Other expenses |
29.6 |
29.6 |
32.5 |
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Total payroll costs |
4.2 |
4.0 |
3.1 |
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Fixed asset depreciation and amortisation |
3.3 |
6.1 |
6.5 |
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Other operating costs |
0.6 |
0.5 |
0.6 |
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Net operating income |
6.1 |
0.4 |
0.6 |
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Total financial income |
0.4 |
1.9 |
0.5 |
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Total expenses |
4.3 |
3.5 |
4.3 |
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Profit before tax |
2.3 |
-1.2 |
-3.1 |
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Extraordinary result |
-0.2 |
1.8 |
-1.3 |
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Profit after extraordinary items and before tax |
2.1 |
0.6 |
-4.4 |
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Total taxation |
1.0 |
-0.1 |
-0.9 |
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Net profit |
1.1 |
0.7 |
- |
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Net loss |
- |
- |
3.5 |
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
64.6 |
65.7 |
69.6 |
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Provision for risks |
0.7 |
0.7 |
0.0 |
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Provision for pensions |
1.5 |
1.4 |
1.1 |
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Mortgages and loans |
21.5 |
16.2 |
- |
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Other long-term liabilities |
92.7 |
78.3 |
- |
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Trade creditors |
2.1 |
2.4 |
2.6 |
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Bank loans and overdrafts |
32.9 |
26.9 |
58.8 |
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Other current liabilities |
10.3 |
7.1 |
92.7 |
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Accruals and deferred income |
0.1 |
0.1 |
0.1 |
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Total current liabilities |
45.4 |
36.5 |
154.3 |
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Total liabilities (including net worth) |
226.2 |
198.8 |
224.9 |
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Intangibles |
0.1 |
2.8 |
8.9 |
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Buildings |
7.4 |
7.8 |
8.5 |
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Total tangible fixed assets |
8.3 |
8.9 |
9.7 |
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Long-term investments |
62.0 |
44.8 |
48.9 |
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Total financial assets |
91.5 |
60.7 |
65.5 |
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Loans to associated companies |
29.5 |
15.8 |
16.5 |
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Total non-current assets |
99.9 |
72.3 |
84.1 |
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Finished goods |
56.2 |
61.9 |
77.2 |
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Net stocks and work in progress |
95.3 |
93.6 |
101.0 |
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Trade debtors |
14.8 |
16.2 |
16.5 |
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Other receivables |
14.8 |
15.8 |
22.7 |
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Cash and liquid assets |
1.4 |
0.7 |
0.6 |
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Accruals |
0.0 |
0.1 |
0.1 |
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Total current assets |
126.4 |
126.5 |
140.8 |
|
Total assets |
226.2 |
198.8 |
224.9 |
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 |
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Consolidated |
No |
No |
No |
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Current ratio |
2.80 |
3.50 |
0.90 |
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Quick ratio |
0.70 |
0.90 |
0.30 |
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Current liabilities to net worth |
0.01% |
0.01% |
0.02% |
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Sales per employee |
1.70 |
1.73 |
2.11 |
|
Profit per employee |
0.03 |
0.01 |
-0.11 |
|
Average wage per employee |
0.07 |
0.07 |
0.07 |
|
Net worth |
64.6 |
65.7 |
69.6 |
|
Number of employees |
43 |
43 |
30 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.65 |
|
UK Pound |
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
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 |
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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.