MIRA
INFORM REPORT
|
Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOPP SPA |
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Registered Office : |
Via Luigi Galvani 59 Sandrigo, 36066 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.10.1991 |
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Com. Reg. No.: |
02230800241 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Subject is engaged in manufacture of electrical signalling, safety or
traffic control equipment for motorways, roads or streets, railways and
tramways, inland waterways, ports and harbours and airports |
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|
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No. of Employees : |
41 |
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 |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source : CIA |
company name and address
TOPP SPA
Via Luigi Galvani 59
Sandrigo, 36066
Italy
Tel: +39
0444 656700
Fax: +39 0444 656701
Employees: 41
Company Type: Public Subsidiary
Corporate Family: 3 Companies
Ultimate Parent: 2 PLUS 3 HOLDING SPA
Incorporation Date: 10-Oct-1991
Financials in: USD (In Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 12.8
Total Assets: 8.6
Business Description
Topp SpA is primarily engaged in manufacture of electrical
signalling, safety or traffic control equipment for motorways, roads or
streets, railways and tramways, inland waterways, ports and harbours and
airports; manufacture of diverse electrical sound or visual signalling
apparatus (bells, sirens, indicator panels, burglar and fire alarms, etc.);
manufacture of electromagnets including electromagnetic or permanent magnet
chucks, clutches, brakes, couplings, clamps or lifting heads; manufacture of
electrical insulators and insulating fittings, except of glass or ceramics;
manufacture of insulating fittings for electrical machines or equipment, except
of ceramics or plastics; manufacture of carbon or graphite electrodes;
manufacture of electrical conduit tubing and joints for such tubing, of base
metal lined with insulating material; and manufacture of diverse electrical
machines and apparatus (particle accelerators, signal generators, mine
detectors, electrical detonators, etc.).
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
3162 -
Manufacture of other electrical equipment not elsewhere classified |
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NAICS 2002: |
335999 -
All Other Miscellaneous Electrical Equipment and Component Manufacturing |
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UK SIC 2003: |
3162 -
Manufacture of other electrical equipment not elsewhere classified |
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UK SIC 2007: |
|
|
US SIC 1987: |
3699 -
Electrical Machinery, Equipment, and Supplies, Not Elsewhere Classified |
Key Executives
|
Name |
Title |
|
Matteo Cavalcante |
President |
|
Vittorio Cavalcante |
Member of the board |
|
Sara Gualtiero |
Member of the board |
News
|
Title |
Date |
|
Researchers
Submit Patent Application, "Control Device for a Linear Actuator,
Particularly for the Movement of Sliding Doors", for Approval |
31-Jan-2013 |
|
Amateur
scene |
31-Jan-2013 |
|
FUTURES
LEAGUE |
30-Jan-2013 |
|
PREMIER
CRICKET Walsh, King shine for Rams |
29-Jan-2013 |
|
Boys
basketball roundup: Eagles top Bulldogs |
19-Jan-2013 |
Registered No.(ITA): 02230800241
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Luigi Galvani 59
Sandrigo, 36066
Italy
Tel: +39
0444 656700
Fax: +39
0444 656701
Sales EUR(mil): 9.2
Assets EUR(mil): 6.6
Employees: 41
Industry: Electronic
Instruments and Controls
Incorporation Date: 10-Oct-1991
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 02230800241
President: Matteo
Cavalcante
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ANZSIC 2006 Codes: |
||
|
2439 |
- |
Other Electrical Equipment Manufacturing |
|
NACE 2002 Codes: |
||
|
3162 |
- |
Manufacture of other electrical equipment not elsewhere
classified |
|
NAICS 2002 Codes: |
||
|
335999 |
- |
All Other Miscellaneous Electrical Equipment and Component
Manufacturing |
|
US SIC 1987: |
||
|
3699 |
- |
Electrical Machinery, Equipment, and Supplies, Not
Elsewhere Classified |
|
UK SIC 2003: |
||
|
3162 |
- |
Manufacture of other electrical equipment not elsewhere
classified |
|
UK SIC 2007: |
||
|
2790 |
- |
Manufacture of other electrical equipment |
Topp SpA is primarily engaged in manufacture of electrical signalling, safety or traffic control equipment for motorways, roads or streets, railways and tramways, inland waterways, ports and harbours and airports; manufacture of diverse electrical sound or visual signalling apparatus (bells, sirens, indicator panels, burglar and fire alarms, etc.); manufacture of electromagnets including electromagnetic or permanent magnet chucks, clutches, brakes, couplings, clamps or lifting heads; manufacture of electrical insulators and insulating fittings, except of glass or ceramics; manufacture of insulating fittings for electrical machines or equipment, except of ceramics or plastics; manufacture of carbon or graphite electrodes; manufacture of electrical conduit tubing and joints for such tubing, of base metal lined with insulating material; and manufacture of diverse electrical machines and apparatus (particle accelerators, signal generators, mine detectors, electrical detonators, etc.).
|
|
|
Bank: |
Banca Popolare di Vicenza Ag, Banca San Giorgio - Credito
Cooperativo di Fara Ag |
Corporate
Structure News
Topp
SpA
Total Corporate Family Members: 3
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
Source |
|
2 PLUS 3 HOLDING SPA |
Parent |
|
|
|
|
|
|
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Subsidiary |
Sandrigo, Vicenza |
Italy |
Electronic Instruments and Controls |
12.8 |
41 |
D&B |
|
|
Subsidiary |
Nanto, Vicenza |
Italy |
Personal and Household Products |
12.3 |
31 |
D&B |
Board of Directors
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Member of the board |
Director/Board Member |
|||
|
Member of the board |
Director/Board Member |
Executives
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|||
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President |
President |
|||
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Managing director |
Managing Director |
News
|
Researchers
Submit Patent Application, "Control Device for a Linear Actuator, Particularly
for the Movement of Sliding Doors", for Approval |
31-Jan-2013 |
|
Amateur
scene |
31-Jan-2013 |
|
FUTURES
LEAGUE |
30-Jan-2013 |
|
PREMIER CRICKET
Walsh, King shine for Rams |
29-Jan-2013 |
|
Boys
basketball roundup: Eagles top Bulldogs |
19-Jan-2013 |
|
Frozen
pipes keep plumbers busy in Santa Fe |
16-Jan-2013 |
|
Lutvey
half-century leads to victory against Moggill |
16-Jan-2013 |
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Men seek
$910,000 for 883-pound fish |
08-Jan-2013 |
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Big Rock
fishermen still trying to reel in the prize that got away |
08-Jan-2013 |
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A friend to
hundreds in county |
07-Jan-2013 |
Articles
|
Topp time
at tiling company |
27-Sep-2012 |
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 |
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|
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Total income |
13.9 |
11.2 |
10.7 |
|
Net sales |
12.8 |
11.1 |
10.6 |
|
Other operating income |
0.0 |
0.0 |
0.1 |
|
Raw materials and consumables employed |
6.0 |
5.1 |
4.4 |
|
Other expenses |
4.0 |
3.0 |
3.0 |
|
Total payroll costs |
2.6 |
2.4 |
2.5 |
|
Fixed asset depreciation and amortisation |
0.8 |
0.5 |
0.5 |
|
Other operating costs |
0.2 |
0.1 |
0.1 |
|
Net operating income |
0.3 |
0.2 |
0.2 |
|
Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.1 |
0.1 |
0.1 |
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Profit before tax |
0.2 |
0.1 |
0.1 |
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Extraordinary result |
0.0 |
0.0 |
-0.1 |
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Profit after extraordinary items and before tax |
0.2 |
0.1 |
0.0 |
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Total taxation |
0.2 |
0.2 |
0.2 |
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Net profit |
0.0 |
- |
- |
|
Net loss |
- |
0.0 |
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 |
1.2 |
1.2 |
1.3 |
|
Provision for risks |
0.1 |
0.1 |
0.0 |
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Provision for pensions |
0.7 |
0.6 |
0.6 |
|
Mortgages and loans |
0.2 |
0.3 |
0.4 |
|
Other long-term liabilities |
0.4 |
0.4 |
1.5 |
|
Trade creditors |
2.5 |
2.0 |
2.0 |
|
Bank loans and overdrafts |
2.6 |
2.5 |
2.6 |
|
Other current liabilities |
0.9 |
0.5 |
0.4 |
|
Accruals and deferred income |
0.0 |
0.0 |
0.0 |
|
Total current liabilities |
6.0 |
5.0 |
5.1 |
|
Total liabilities (including net worth) |
8.6 |
7.6 |
9.0 |
|
Intangibles |
1.3 |
1.1 |
1.8 |
|
Total tangible fixed assets |
0.7 |
0.5 |
0.5 |
|
Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
2.0 |
1.5 |
2.3 |
|
Finished goods |
1.0 |
0.6 |
0.7 |
|
Net stocks and work in progress |
3.0 |
2.3 |
2.4 |
|
Trade debtors |
3.3 |
3.5 |
3.9 |
|
Other receivables |
0.3 |
0.2 |
0.2 |
|
Cash and liquid assets |
- |
0.0 |
0.0 |
|
Accruals |
0.0 |
0.0 |
0.0 |
|
Total current assets |
6.6 |
6.1 |
6.6 |
|
Total assets |
8.6 |
7.6 |
9.0 |
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 |
1.10 |
1.20 |
1.30 |
|
Quick ratio |
0.60 |
0.80 |
0.80 |
|
Current liabilities to net worth |
0.05% |
0.04% |
0.04% |
|
Sales per employee |
0.23 |
0.20 |
0.19 |
|
Profit per employee |
0.00 |
0.00 |
0.00 |
|
Average wage per employee |
0.05 |
0.04 |
0.04 |
|
Net worth |
1.2 |
1.2 |
1.3 |
|
Number of employees |
41 |
41 |
41 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.71.88 |
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.