MIRA
INFORM REPORT
|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
DIESEL SPA |
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Registered Office : |
Via dell'Industria 7 Molvena, 36060 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.10.1978 |
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Com. Reg. No.: |
00642650246 |
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Legal Form : |
Public Parent |
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Line of Business : |
Manufacture of casual
clothing and accessories |
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No. of Employees : |
712 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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, highly subsidized, agricultural south, where unemployment is
high. 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 its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 126%
of GDP in 2012, and investor concerns about the broader euro-zone crisis at
times have caused borrowing costs on sovereign government debt to rise to
euro-era. During the second half of 2011 the government passed three austerity
packages to reduce its budget deficit and help bring down borrowing costs.
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 sustain its recent efforts to address
Italy's long-standing structural impediments to growth, such as labor market
inefficiencies and widespread tax evasion. In 2012 economic growth and labor
market conditions deteriorated, with growth at -2.3% and unemployment rising to
nearly 11%, with youth unemployment around 35%. The government has undertaken
several reform initiatives designed to increase long-term economic growth.
Italy's GDP is now 7% below its 2007 pre-crisis level.
|
Source
: CIA |
company name and address
DIESEL SPA 
|
Via dell'Industria 7 Molvena, 36060 Italy
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Business Description
Diesel SpA is primarily engaged in manufacture of other
men’s outerwear; and manufacture of other women’s outerwear.
Industry
|
Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
315220 -
Men’s and Boys’ Cut and Sew Apparel Manufacturing |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
Daniela Riccardi |
Chief Executive Officer |
|
Renzo Rosso |
Founder & President |
|
Antonio Sperati Ruffoni |
Finance Director |
|
Antonella Viero |
Global Head-Communications |
|
Andreas Melbostad |
Manager |
News
|
Title |
Date |
|
Damiani
family wants to keep minority stake in Pomellato after PPR deal - report |
12-Mar-2013 |
|
Damiani
family wants to keep minority stake in Pomellato after PPR deal - report |
12-Mar-2013 |
|
Plunkett`s
Retail Industry Trends & Statistics 2013: A Summary of Plunket`s Retail
Industry Almanac 2013 |
19-Feb-2013 |
|
Plunkett`s
Retail Industry Trends & Statistics 2013: A Summary of Plunket`s Retail
Industry Almanac 2013 |
7-Feb-2013 |
|
Plunkett's
Retail Industry Almanac 2013: Retail Industry Market Research, Statistics,
Trends & Leading Companies |
7-Feb-2013 |
Registered No.(ITA): 00642650246
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
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ANZSIC 2006 Codes: |
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1351 |
- |
Clothing
Manufacturing |
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ISIC Rev 4 Codes: |
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1410 |
- |
Manufacture
of wearing apparel, except fur apparel |
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NACE Rev 2 Codes: |
||
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1414 |
- |
Manufacture
of underwear |
|
1413 |
- |
Manufacture
of other outerwear |
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1419 |
- |
Manufacture
of other wearing apparel and accessories n.e.c. |
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NAICS 2012 Codes: |
||
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315220 |
- |
Men’s
and Boys’ Cut and Sew Apparel Manufacturing |
|
315240 |
- |
Women’s,
Girls’, and Infants’ Cut and Sew Apparel Manufacturing |
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US SIC 1987: |
||
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2321 |
- |
Men's and
Boys' Shirts, Except Work Shirts |
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2329 |
- |
Men's and
Boys' Clothing, Not Elsewhere Classified |
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2325 |
- |
Men's and
Boys' Separate Trousers and Slacks |
|
2331 |
- |
Women's,
Misses', and Juniors' Blouses and Shirts |
|
2311 |
- |
Men's and
Boys' Suits, Coats, and Overcoats |
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UK SIC 2007: |
||
|
14141 |
- |
Manufacture
of men's underwear |
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1419 |
- |
Manufacture
of other wearing apparel and accessories n.e.c. |
|
14132 |
- |
Manufacture
of women's outerwear, other than leather clothes and workwear |
|
14131 |
- |
Manufacture
of men's outerwear, other than leather clothes and workwear |
Manufacture of casual clothing and accessories
More Business Descriptions
Casual Clothing & Accessory Mfr
Diesel SpA is primarily engaged in manufacture of other
men’s outerwear; and manufacture of other women’s outerwear.
Cosmetics, Beauty Supplies and Perfume Stores
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Company |
Percentage Owned |
Country |
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Denim Service SpA |
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Diesel Italia SpA |
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Diesel Props SRL |
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Diesel Rags SRL |
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Ssd Next Gen.Bassano V. SRL |
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Bassano Virtus 55 Soccer Team SRL |
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Brave Kid SRL |
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Bank: |
Intesa SanPaolo Ag, UniCredit Banca Ag |
Corporate
Family
Corporate Structure News:
Total Corporate Family Members: 15
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Molvena, VI |
Italy |
Clothing and Apparel Manufacturing |
623.6 |
712 |
|
|
Subsidiary |
Paris |
France |
Clothing and Apparel Wholesale |
116.7 |
374 |
|
|
Subsidiary |
London |
United Kingdom |
Clothing and Apparel Wholesale |
115.4 |
308 |
|
|
UK Branch/Trading address |
London |
United Kingdom |
Clothing and Apparel Stores |
115.4 |
40 |
|
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UK Branch/Trading address |
London |
United Kingdom |
Clothing and Apparel Stores |
115.4 |
31 |
|
|
UK Branch/Trading address |
Greenhithe |
United Kingdom |
Clothing and Apparel Stores |
115.4 |
11 |
|
|
Subsidiary |
Marostica, Vicenza |
Italy |
Clothing and Apparel Wholesale |
134.1 |
279 |
|
|
Subsidiary |
DĂ¼sseldorf, Nordrhein-Westfalen |
Germany |
Clothing and Apparel Wholesale |
119.0 |
175 |
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|
Subsidiary |
Eindhoven, Noord-Brabant |
Netherlands |
Clothing and Apparel Wholesale |
68.3 |
88 |
|
|
Subsidiary |
Marostica, Vicenza |
Italy |
Clothing and Apparel Manufacturing |
56.0 |
77 |
|
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Subsidiary |
Marostica, Vicenza |
Italy |
Clothing and Apparel Manufacturing |
147.8 |
69 |
|
|
Subsidiary |
Cheung Sha Wan, Kowloon |
Hong Kong |
Clothing and Apparel Wholesale |
|
60 |
|
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Subsidiary |
Bassano Del Grappa, Vicenza |
Italy |
Spectator Sports |
1.0 |
48 |
|
|
Subsidiary |
Mason Vicentino, Vicenza |
Italy |
Clothing and Apparel Manufacturing |
45.4 |
43 |
|
|
Subsidiary |
Bassano Del Grappa, Vicenza |
Italy |
Clothing and Apparel Stores |
84.8 |
11 |
Competitors
Report
|
CompanyName |
Location |
Employees |
Ownership |
|
Calvin Klein, Inc. |
New York, New York, United States |
700 |
Private |
|
Carter's, Inc. |
Atlanta, Georgia, United States |
3,498 |
Public |
|
Fifth & Pacific Companies Inc |
New York, New York, United States |
5,800 |
Public |
|
Fruit of the Loom, Inc. |
Bowling Green, Kentucky, United States |
33,000 |
Private |
|
H & M Hennes & Mauritz AB |
Stockholm, Sweden |
104,000 |
Public |
|
Inditex SA |
Arteixo, Spain |
120,314 |
Public |
|
Kellwood Company |
Chesterfield, Missouri, United States |
30,000 |
Private |
|
L Brands Inc |
Columbus, Ohio, United States |
79,800 |
Public |
|
Levi Strauss & Co. |
San Francisco, California, United States |
17,000 |
Private |
|
Reebok International Ltd. |
Canton, Massachusetts, United States |
9,102 |
Private |
|
Tefron Ltd. |
Misgav, Israel |
571 |
Public |
|
The Gap Inc. |
San Francisco, California, United States |
136,000 |
Public |
|
The Gymboree Corporation |
San Francisco, California, United States |
13,754 |
Public |
|
The Warnaco Group, Inc. |
New York, New York, United States |
7,136 |
Public |
|
VF Corp |
Greensboro, North Carolina, United States |
57,000 |
Public |
Executives Report
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 |
Executives
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Chief Executive Officer |
Chief Executive Officer |
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Founder & President |
President |
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Managing Director |
Managing Director |
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Finance Director |
Finance Executive |
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Global Head-Communications |
International Executive |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
|||
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Executive |
Other |
|||
|
Manager |
Other |
News
|
Damiani
family wants to keep minority stake in Pomellato after PPR deal - report |
12-Mar-2013 |
|
Damiani
family wants to keep minority stake in Pomellato after PPR deal - report |
12-Mar-2013 |
|
Plunkett`s
Retail Industry Trends & Statistics 2013: A Summary of Plunket`s Retail
Industry Almanac 2013 |
19-Feb-2013 |
|
Plunkett`s
Retail Industry Trends & Statistics 2013: A Summary of Plunket`s Retail
Industry Almanac 2013 |
07-Feb-2013 |
|
Plunkett's
Retail Industry Almanac 2013: Retail Industry Market Research, Statistics,
Trends & Leading Companies |
07-Feb-2013 |
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 |
685.3 |
632.7 |
633.2 |
|
Net sales |
623.6 |
580.3 |
616.7 |
|
Other operating income |
44.4 |
44.8 |
48.4 |
|
Raw materials and consumables employed |
251.0 |
204.9 |
201.3 |
|
Other expenses |
240.8 |
240.9 |
235.3 |
|
Total payroll costs |
61.8 |
57.2 |
55.3 |
|
Fixed asset depreciation and amortisation |
47.8 |
41.5 |
35.9 |
|
Other operating costs |
2.4 |
2.0 |
3.3 |
|
Net operating income |
81.6 |
86.2 |
102.0 |
|
Total financial income |
49.5 |
18.2 |
54.8 |
|
Total expenses |
0.5 |
0.4 |
0.3 |
|
Profit before tax |
130.7 |
103.9 |
156.6 |
|
Extraordinary result |
-2.1 |
-3.3 |
-2.0 |
|
Profit after extraordinary items and before tax |
128.6 |
100.7 |
154.6 |
|
Total taxation |
32.4 |
30.6 |
38.9 |
|
Net profit |
96.2 |
70.1 |
115.7 |
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 |
997.3 |
971.4 |
991.6 |
|
Provision for risks |
11.6 |
12.9 |
13.9 |
|
Provision for pensions |
6.4 |
6.9 |
7.5 |
|
Trade creditors |
133.2 |
118.0 |
139.6 |
|
Bank loans and overdrafts |
- |
0.0 |
0.0 |
|
Other current liabilities |
35.7 |
21.9 |
27.5 |
|
Accruals and deferred income |
0.9 |
4.0 |
7.5 |
|
Total current liabilities |
169.8 |
143.9 |
174.6 |
|
Total liabilities (including net worth) |
1,185.1 |
1,135.2 |
1,187.7 |
|
Intangibles |
220.9 |
253.7 |
302.4 |
|
Buildings |
119.1 |
124.4 |
10.2 |
|
Total tangible fixed assets |
156.8 |
172.5 |
143.4 |
|
Long-term investments |
249.5 |
244.6 |
259.6 |
|
Total financial assets |
276.3 |
270.7 |
287.8 |
|
Receivables due after 1 year |
0.4 |
0.8 |
1.0 |
|
Total non-current assets |
654.3 |
697.8 |
734.7 |
|
Finished goods |
104.3 |
91.0 |
89.1 |
|
Net stocks and work in progress |
117.6 |
100.2 |
98.7 |
|
Trade debtors |
39.2 |
30.7 |
28.6 |
|
Other receivables |
365.8 |
297.9 |
312.1 |
|
Cash and liquid assets |
0.7 |
1.6 |
0.8 |
|
Accruals |
7.4 |
6.9 |
12.8 |
|
Total current assets |
530.8 |
437.4 |
453.0 |
|
Total assets |
1,185.1 |
1,135.2 |
1,187.7 |
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 |
3.10 |
3.00 |
2.60 |
|
Quick ratio |
2.40 |
2.30 |
2.00 |
|
Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
|
Sales per employee |
0.68 |
0.67 |
0.68 |
|
Profit per employee |
0.14 |
0.12 |
0.17 |
|
Average wage per employee |
0.07 |
0.07 |
0.06 |
|
Net worth |
997.3 |
971.4 |
991.6 |
|
Number of employees |
658 |
656 |
655 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
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.