|
Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
Mode SRL |
|
|
|
|
Registered Office : |
Via Fratte 1250 63019 Santepidio A Mare FM Italy |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
10.09.2004 |
|
|
|
|
Com. Reg. No.: |
04869121212 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Wholesale of adults' fur and leather clothing;
wholesale of children's and infants' clothing; wholesale of footwear; and
wholesale of clothing not elsewhere classified. |
|
|
|
|
No. of Employees : |
8 |
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 |
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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 (31.03.2011) |
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 |
Mode SRL
Via Lama Di Quartirolo 25
Carpi, 41012
Italy
Tel: +39
0596 45569
Fax: +39 0596 21325
Employees: 8
Company Type: Private
Independent
Incorporation Date: 10-Sep-2004
Financials in: USD (Mil)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 4.7
Total Assets: 3.4
Mode SRL is primarily engaged in wholesale of
adults' fur and leather clothing; wholesale of children's and infants'
clothing; wholesale of footwear; and wholesale of clothing not elsewhere
classified.
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
|
|
NAICS 2002: |
4243 -
Apparel, Piece Goods, and Notions Merchant Wholesalers |
|
UK SIC 2003: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
5137 -
Women's, Children's, and Infants' Clothing and Accessories |
|
Name |
Title |
|
Michele
Giuseppe Sorrentino |
Sole
administrator |
Registered No.(ITA): 04869121212
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Lama Di Quartirolo 25
Carpi, 41012
Italy
Tel: +39 0596 45569
Fax: +39 0596 21325
Sales EUR(mil): 3.4
Assets EUR(mil): 2.6
Employees: 8
Fiscal Year End: 31-Dec-2011
Industry: Apparel and Accessories
Incorporation Date: 10-Sep-2004
Company Type: Private Independent
Quoted Status: Not Quoted
Registered
No.(ITA): 04869121212
Sole administrator:
Michele Giuseppe Sorrentino
|
ANZSIC 2006 Codes: |
||
|
371 |
- |
Textile, Clothing and Footwear Wholesaling |
|
NACE 2002 Codes: |
||
|
5142 |
- |
Wholesale of clothing and footwear |
|
NAICS 2002 Codes: |
||
|
4243 |
- |
Apparel, Piece Goods, and Notions Merchant
Wholesalers |
|
US SIC 1987: |
||
|
5137 |
- |
Women's, Children's, and Infants' Clothing
and Accessories |
|
UK SIC 2003: |
||
|
5142 |
- |
Wholesale of clothing and footwear |
|
UK SIC 2007: |
||
|
4642 |
- |
Wholesale of clothing and footwear |
Mode SRL is primarily engaged in wholesale of
adults' fur and leather clothing; wholesale of children's and infants'
clothing; wholesale of footwear; and wholesale of clothing not elsewhere
classified.
|
|
|
Bank: |
Banca Popolare dell'Emilia Romagna Ag,
Unicredit Ag |
Executives
|
|
|
|||
|
Sole administrator |
President |
|
|
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 |
5.0 |
4.0 |
4.8 |
|
Net sales |
4.7 |
4.1 |
4.1 |
|
Other operating income |
- |
0.0 |
- |
|
Raw materials and consumables employed |
2.0 |
1.2 |
1.9 |
|
Other expenses |
2.5 |
2.2 |
2.3 |
|
Total payroll costs |
0.4 |
0.3 |
0.3 |
|
Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
|
Other operating costs |
0.0 |
0.0 |
0.0 |
|
Net operating income |
0.1 |
0.2 |
0.2 |
|
Total expenses |
0.1 |
0.1 |
0.1 |
|
Profit before tax |
0.0 |
0.1 |
0.1 |
|
Extraordinary result |
- |
0.0 |
- |
|
Profit after extraordinary items and before
tax |
0.0 |
0.1 |
0.1 |
|
Total taxation |
0.0 |
0.0 |
0.0 |
|
Net profit |
0.0 |
0.1 |
0.1 |
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 |
0.3 |
0.3 |
0.3 |
|
Provision for pensions |
0.0 |
0.0 |
0.0 |
|
Mortgages and loans |
- |
- |
0.0 |
|
Other long-term liabilities |
0.1 |
0.1 |
- |
|
Trade creditors |
1.3 |
1.7 |
1.8 |
|
Bank loans and overdrafts |
1.4 |
1.3 |
1.0 |
|
Other current liabilities |
0.3 |
0.3 |
0.2 |
|
Accruals and deferred income |
- |
- |
0.0 |
|
Total current liabilities |
3.0 |
3.3 |
3.1 |
|
Total liabilities (including net worth) |
3.4 |
3.8 |
3.4 |
|
Intangibles |
0.0 |
0.0 |
0.0 |
|
Total tangible fixed assets |
0.0 |
0.0 |
0.0 |
|
Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
0.1 |
0.0 |
0.0 |
|
Net stocks and work in progress |
0.9 |
0.7 |
0.8 |
|
Trade debtors |
2.4 |
2.9 |
2.4 |
|
Other receivables |
0.1 |
0.1 |
0.1 |
|
Cash and liquid assets |
0.0 |
0.0 |
0.0 |
|
Accruals |
0.0 |
- |
0.0 |
|
Total current assets |
3.4 |
3.7 |
3.3 |
|
Total assets |
3.4 |
3.8 |
3.4 |
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 |
1.10 |
1.10 |
|
Quick ratio |
0.80 |
0.90 |
0.80 |
|
Current liabilities to net worth |
0.09% |
0.10% |
0.11% |
|
Sales per employee |
- |
0.35 |
0.37 |
|
Average wage per employee |
- |
0.03 |
0.03 |
|
Net worth |
0.3 |
0.3 |
0.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.