MIRA INFORM REPORT
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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
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Name : |
ITALIANA PRODOTTI MINERALI TRADING SRL |
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Registered Office : |
Piazza Di Santa Maria In Via Lata 11/1 B ,
Genova, 16128 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.07.2006 |
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Com. Reg. No.: |
01661620995 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of ferrous and non-ferrous metal ores |
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No. of Employees : |
2 |
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
ITALIANA PRODOTTI
MINERALI TRADING SRL
Piazza Di Santa Maria In Via Lata 11/1 B
Genova, 16128
Italy
Tel: +39 010 564654
Fax: +39 010 581347
SYNTHESIS
Employees: 2
Company Type: Private Subsidiary
Corporate Family: 3 Companies
Ultimate Parent: TRUST "PEONIA TRUST"
Incorporation Date: 17-Jul-2006
Financials in: USD
(Mil)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 46.5
Total Assets: 13.2
Business Description
Italiana Prodotti Minerali Trading SRL is primarily engaged in wholesale
of ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous
metals in primary forms; wholesale of ferrous and non-ferrous semi-finished
metal products not elsewhere classified; and wholesale of gold and other
precious metals.
Industry
Industry Miscellaneous
Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 423520 - Coal and
Other Mineral and Ore Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
UK SIC 2007: 4672 - Wholesale
of metals and metal ores
US SIC 1987: 5051 - Metals
Service Centers and Offices
Key Executives
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Registered
No.(ITA): 01661620995
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Piazza Di Santa Maria In Via Lata 11/1 B
Genova, 16128
Italy
Tel: +39 010 564654
Fax:+39 010 581347
Sales EUR(mil): 33.5
Assets EUR(mil): 10.1
Employees: 2
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Capital Goods
Incorporation
Date: 17-Jul-2006
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(ITA): 01661620995
President: Graziella Nicora
ANZSIC
2006 Codes:
3322- Metal and Mineral Wholesaling
3739- Other Goods Wholesaling Not Elsewhere Classified
NACE
2002 Codes:
5152- Wholesale of metals and ores
5190- Other wholesale
NAICS
2002 Codes:
423520- Coal and Other Mineral and Ore Merchant Wholesalers
423990- Other Miscellaneous Durable Goods Merchant Wholesalers
US
SIC 1987:
5051- Metals Service Centers and Offices
5099- Durable Goods, Not Elsewhere Classified
UK
SIC 2003:
5152- Wholesale of metals and ores
5190- Other wholesale
UK
SIC 2007:
4672- Wholesale of metals and metal ores
4690- Non-specialised wholesale trade
Italiana Prodotti Minerali Trading SRL is primarily engaged in wholesale
of ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous metals
in primary forms; wholesale of ferrous and non-ferrous semi-finished metal
products not elsewhere classified; and wholesale of gold and other precious
metals.
Financial Data
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Bank:Intesa Sanpaolo Ag
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Corporate
Family |
Corporate
Structure News: |
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Italiana Prodotti Minerali Trading SRL |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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TRUST "PEONIA TRUST" |
Parent |
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Subsidiary |
Genova, Genova |
Italy |
Business Services |
6.9 |
9 |
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Subsidiary |
Genova, Genova |
Italy |
Miscellaneous Capital Goods |
46.5 |
2 |
Executives Report
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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 |
46.7 |
34.3 |
35.0 |
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Net sales |
46.5 |
34.2 |
35.0 |
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Other operating income |
0.2 |
0.1 |
0.0 |
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Raw materials and consumables employed |
45.1 |
33.0 |
33.1 |
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Other expenses |
0.6 |
0.6 |
0.7 |
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Total payroll costs |
0.2 |
0.1 |
0.1 |
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Other operating costs |
0.0 |
0.0 |
0.0 |
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Net operating income |
0.8 |
0.7 |
1.2 |
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Total financial income |
0.2 |
0.0 |
0.0 |
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Total expenses |
0.0 |
- |
0.0 |
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Profit before tax |
1.0 |
0.8 |
1.2 |
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Extraordinary result |
0.0 |
0.0 |
-0.1 |
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Profit after extraordinary items and before tax |
1.0 |
0.8 |
1.1 |
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Total taxation |
0.3 |
0.2 |
0.4 |
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Net profit |
0.6 |
0.5 |
0.8 |
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 |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
4.6 |
4.6 |
4.8 |
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Provision for pensions |
0.0 |
0.0 |
0.0 |
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Trade creditors |
2.8 |
5.3 |
3.7 |
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Bank loans and overdrafts |
5.1 |
0.6 |
- |
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Other current liabilities |
0.6 |
0.9 |
0.5 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
8.6 |
6.8 |
4.3 |
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Total liabilities (including net worth) |
13.2 |
11.4 |
9.0 |
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Finished goods |
2.8 |
2.7 |
- |
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Net stocks and work in progress |
2.8 |
3.1 |
0.5 |
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Trade debtors |
8.1 |
4.8 |
3.1 |
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Other receivables |
0.5 |
0.4 |
1.2 |
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Cash and liquid assets |
0.9 |
2.2 |
3.3 |
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Marketable securities |
0.9 |
1.0 |
1.0 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
13.2 |
11.4 |
9.0 |
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Total assets |
13.2 |
11.4 |
9.0 |
Annual Ratios
Financials in: USD (mil)
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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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.50 |
1.70 |
2.10 |
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Quick ratio |
1.20 |
1.20 |
2.00 |
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Current liabilities to net worth |
0.02% |
0.02% |
0.01% |
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Sales per employee |
11.16 |
12.91 |
12.58 |
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Profit per employee |
0.23 |
0.28 |
0.41 |
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Average wage per employee |
0.04 |
0.02 |
0.02 |
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Net worth |
4.6 |
4.6 |
4.8 |
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Number of employees |
3 |
2 |
2 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.53.98 |
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UK Pound |
1 |
Rs.83.72 |
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Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
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-- |
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.