MIRA INFORM REPORT
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Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
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Name : |
PRIME SITE SRL |
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Registered Office : |
Via Giovanni Pezzotti
50 Milano, 20141 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.07.1993 |
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Com. Reg. No.: |
10982870155 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in retail sale of (household
appliances) |
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No. of Employees : |
5 |
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Correct |
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 and address
PRIME
SITE SRL
Via Giovanni Pezzotti 50
Milano, 20141
Italy
Tel: +39 02 76024193
Fax: +39 02 76024195
Employees: 5
Company Type: Private Independent
Incorporation Date: 02-Jul-1993
Financials in: USD (In Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 2.9
Total Assets: 1.3
Business Description
Prime Site SRL is
primarily engaged in retail sale of (household appliances; radio and television
goods and other household audio/visual equipment including DVD players; musical
and audio/visual tapes, CD’s, DVD’s and cassettes; and musical instruments
and scores).
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
5245 -
Retail sale of electrical household appliances and radio and television goods
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NAICS 2002: |
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UK SIC 2003: |
5245 -
Retail sale of electrical household appliances and radio and television goods
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UK SIC 2007: |
4754 - Retail
sale of electrical household appliances in specialised stores |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
Roberto Lecardi |
President |
|
Guido Lecardi |
Member of the board |
News
|
Title |
Date |
|
Barracks enquiries are on a Hyding
to nothing |
1-Feb-2013 |
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Lunch Delicious dishes and plenty
of bargains |
1-Feb-2013 |
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Pizzeria goes east to open new
restaurant |
23-Jan-2013 |
|
CapitaMalls Asia wins 4th Wuhan
site |
16-Jan-2013 |
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Prime land up for sale |
9-Jan-2013 |
Registered No.(ITA): 10982870155
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Giovanni Pezzotti 50
Milano, 20141
Italy
Tel: +39
02 76024193
Fax: +39
02 76024195
Sales EUR(mil): 2.1
Assets EUR(mil): 1.0
Employees: 5
Fiscal Year End: 31-Dec-2011
Industry: Retail
(Specialty)
Incorporation Date: 02-Jul-1993
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 10982870155
President: Roberto
Lecardi
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ANZSIC 2006 Codes: |
||
|
4221 |
- |
Electrical, Electronic and Gas Appliance Retailing |
|
NACE 2002 Codes: |
||
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5245 |
- |
Retail sale of electrical household appliances and radio and
television goods |
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NAICS 2002 Codes: |
||
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44311 |
- |
Appliance, Television, and Other Electronics Stores |
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US SIC 1987: |
||
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5722 |
- |
Household Appliance Stores |
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UK SIC 2003: |
||
|
5245 |
- |
Retail sale of electrical household appliances and radio
and television goods |
|
UK SIC 2007: |
||
|
4754 |
- |
Retail sale of electrical household appliances in
specialised stores |
Prime Site SRL is primarily engaged in retail sale of (household appliances; radio and television goods and other household audio/visual equipment including DVD players; musical and audio/visual tapes, CD’s, DVD’s and cassettes; and musical instruments and scores).
|
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Bank: |
Ubi Banca Popolare Commercio e Industria Ag |
Board of Directors
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Member of the board |
Director/Board Member |
Executives
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President |
President |
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Managing director |
Managing Director |
News
|
Barracks
enquiries are on a Hyding to nothing |
01-Feb-2013 |
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Lunch
Delicious dishes and plenty of bargains |
01-Feb-2013 |
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Pizzeria
goes east to open new restaurant |
23-Jan-2013 |
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CapitaMalls
Asia wins 4th Wuhan site |
16-Jan-2013 |
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Prime land
up for sale |
09-Jan-2013 |
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Freehold
acre in city centre on the market |
09-Jan-2013 |
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High dramas
in high roller land |
16-Dec-2012 |
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CELL OF
CENTURY |
02-Dec-2012 |
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Prime site
for housing... then this happened |
29-Nov-2012 |
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Swiss SPS
to hike capital by 5.5m shares |
21-Nov-2012 |
Articles
|
CapitaMalls
Asia Awarded Prime Site For Shopping Mall In Wuhan, China |
17-Jan-2013 |
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Restaurant
planned at prime site on the coast |
20-Oct-2012 |
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Switzerland
: Credit Suisse Group to Sell Wincasa to Swiss Prime Site |
14-Sep-2012 |
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pounds 6m
redevelopment for prime site in city centre |
28-Mar-2012 |
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Prime site
up for grabs; Approved Wacol site offers top exposure in industrial area
close to city and highways |
24-Mar-2012 |
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 |
|
Exchange Rate (Period
Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
2.9 |
4.4 |
3.1 |
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Net sales |
2.9 |
4.4 |
3.1 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
1.4 |
2.9 |
1.8 |
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Other expenses |
0.7 |
0.6 |
0.7 |
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Total payroll costs |
0.6 |
0.6 |
0.6 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.1 |
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Other operating costs |
0.1 |
0.0 |
0.0 |
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Net operating income |
0.1 |
0.3 |
-0.1 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
- |
- |
0.0 |
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Profit before tax |
0.1 |
0.3 |
-0.1 |
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Profit after extraordinary items and before tax |
0.1 |
0.3 |
-0.1 |
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Total taxation |
0.1 |
0.1 |
0.0 |
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Net profit |
0.0 |
0.1 |
- |
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Net loss |
- |
- |
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 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
0.5 |
0.5 |
0.6 |
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Provision for pensions |
0.1 |
0.2 |
0.1 |
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Trade creditors |
0.4 |
0.5 |
0.6 |
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Other current liabilities |
0.2 |
0.3 |
0.3 |
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Total current liabilities |
0.6 |
0.8 |
0.8 |
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Total liabilities (including net worth) |
1.3 |
1.5 |
1.6 |
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Intangibles |
- |
- |
0.0 |
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Total tangible fixed assets |
0.1 |
0.1 |
0.1 |
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Total financial assets |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.1 |
0.1 |
0.1 |
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Net stocks and work in progress |
0.2 |
0.3 |
0.7 |
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Trade debtors |
0.4 |
0.4 |
0.4 |
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Other receivables |
0.1 |
0.1 |
0.1 |
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Cash and liquid assets |
0.5 |
0.7 |
0.2 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
1.2 |
1.4 |
1.5 |
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Total assets |
1.3 |
1.5 |
1.6 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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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|
|
|
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Current ratio |
1.80 |
1.80 |
1.80 |
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Quick ratio |
1.50 |
1.40 |
0.90 |
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Current liabilities to net worth |
0.01% |
0.02% |
0.01% |
|
Sales per employee |
- |
- |
0.16 |
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Average wage per employee |
- |
- |
0.03 |
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Net worth |
0.5 |
0.5 |
0.6 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.20 |
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 |
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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.