|
Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAVI ITALO SRL |
|
|
|
|
Registered Office : |
Via San Protaso
117 Fiorenzuola D'Arda, 29017 |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.07.2000 |
|
|
|
|
Com. Reg. No.: |
01304810334 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Manufacture of refined oils and fats |
|
|
|
|
No. of Employees : |
12 |
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 but correct |
|
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
Savi Italo SRL
|
|
|
||||||||||||||||||||||||||||||||||||||||||
Business Description
|
Savi Italo SRL is primarily engaged in
production of refined vegetable oils: olive oil, soya-bean oil, etc.; processing
of vegetable oils: blowing, boiling, oxidation, polymerisation, dehydration,
hydrogenation, etc. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
|
|
NAICS 2002: |
|
|
UK SIC 2003: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
2076 - Vegetable Oil Mills, Except Corn, Cottonseed,
and Soybean |
|
|
|
Key Executives
|
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executives
Report
|
|
|
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 |
29.2 |
25.1 |
21.3 |
|
Net sales |
29.2 |
24.9 |
21.0 |
|
Other operating income |
0.0 |
0.0 |
0.1 |
|
Raw materials and consumables employed |
26.9 |
23.3 |
19.9 |
|
Other expenses |
1.3 |
1.0 |
0.7 |
|
Total payroll costs |
0.4 |
0.3 |
0.3 |
|
Fixed asset depreciation and amortisation |
0.3 |
0.3 |
0.2 |
|
Other operating costs |
0.0 |
0.0 |
0.1 |
|
Net operating income |
0.1 |
0.2 |
0.2 |
|
Total financial income |
0.0 |
- |
- |
|
Total expenses |
0.1 |
0.1 |
0.1 |
|
Profit before tax |
0.1 |
0.1 |
0.1 |
|
Extraordinary result |
0.1 |
0.0 |
0.0 |
|
Profit after extraordinary items and before
tax |
0.2 |
0.1 |
0.1 |
|
Total taxation |
0.1 |
0.0 |
0.0 |
|
Net profit |
0.1 |
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 |
0.9 |
0.8 |
0.8 |
|
Provision for risks |
0.2 |
0.2 |
0.2 |
|
Provision for pensions |
0.0 |
0.0 |
0.1 |
|
Mortgages and loans |
0.8 |
1.1 |
0.7 |
|
Other long-term liabilities |
0.0 |
- |
- |
|
Trade creditors |
5.5 |
5.0 |
5.2 |
|
Bank loans and overdrafts |
1.1 |
1.4 |
0.9 |
|
Other current liabilities |
0.3 |
0.3 |
0.6 |
|
Accruals and deferred income |
0.1 |
0.0 |
0.0 |
|
Total current liabilities |
7.0 |
6.7 |
6.6 |
|
Total liabilities (including net worth) |
8.9 |
8.9 |
8.4 |
|
Intangibles |
0.1 |
0.1 |
0.1 |
|
Buildings |
0.9 |
1.0 |
1.2 |
|
Total tangible fixed assets |
1.8 |
1.9 |
2.0 |
|
Total financial assets |
0.1 |
0.1 |
0.1 |
|
Receivables due after 1 year |
0.1 |
0.0 |
0.0 |
|
Loans to associated companies |
0.1 |
0.1 |
0.1 |
|
Total non-current assets |
2.1 |
2.1 |
2.2 |
|
Finished goods |
1.5 |
2.0 |
2.2 |
|
Net stocks and work in progress |
1.5 |
2.3 |
2.2 |
|
Trade debtors |
4.9 |
4.1 |
3.1 |
|
Other receivables |
0.3 |
0.3 |
0.8 |
|
Cash and liquid assets |
0.0 |
0.0 |
0.0 |
|
Accruals |
0.0 |
- |
0.0 |
|
Total current assets |
6.7 |
6.7 |
6.2 |
|
Total assets |
8.9 |
8.9 |
8.4 |
|
|
|
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 |
1.00 |
1.00 |
0.90 |
|
Quick ratio |
0.80 |
0.70 |
0.60 |
|
Current liabilities to net worth |
0.08% |
0.08% |
0.08% |
|
Sales per employee |
- |
- |
2.52 |
|
Average wage per employee |
- |
- |
0.03 |
|
Net worth |
0.9 |
0.8 |
0.8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.