MIRA INFORM REPORT
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Report Date : |
08.01.2013 |
IDENTIFICATION DETAILS
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Name : |
EMMEMODA SRL |
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Registered Office : |
Via Risorgimento 548 Monsummano Terme, 51015 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
19.06.1997 |
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Com. Reg. No.: |
01315210474 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject engaged in wholesale of adults' fur and
leather clothing |
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No. of Employees : |
2 |
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 : |
Small Company |
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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 |
EMMEMODA SRL
Via Risorgimento 548
Monsummano Terme, 51015
Italy
Tel: +39 0572 951775
Fax: +39 0572 950389
Employees :2
Company Type : Private Independent
Incorporation Date :19-Jun-1997
Financials In : USD (mil)
Fiscal Year End :31-Dec-2011
Reporting Currency : Euro
Annual Sales : 9.6
Total Assets : 6.2
Emmemoda 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
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Industry |
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ANZSIC
2006: |
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NACE
2002: |
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NAICS
2002: |
4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers |
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UK SIC
2003: |
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UK SIC
2007: |
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US SIC
1987: |
Key Executives
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Registered No.(ITA): 01315210474
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Location
Via Risorgimento 548
Monsummano Terme, 51015
Italy
Tel: +39 0572 951775
Fax: +39 0572 950389
Sales EUR(mil) :6.9
Assets EUR(mil) :4.8
Employees :2
Fiscal Year End :31-Dec-2011
Industry :Apparel
and Accessories
Incorporation Date :19-Jun-1997
Company Type : Private Independent
Quoted Status :Not Quoted
Registered No.(ITA) :01315210474
Industry Codes
Emmemoda 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.
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Bank: |
Cassa di Risparmio di Pistoia e Pescia Ag, Intesa Sanpaolo
Ag |
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 |
9.6 |
10.7 |
9.8 |
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Net sales |
9.6 |
10.7 |
9.8 |
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Raw materials and consumables employed |
7.1 |
8.4 |
7.4 |
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Other expenses |
2.1 |
1.8 |
2.0 |
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Total payroll costs |
0.1 |
0.1 |
0.1 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.0 |
0.1 |
0.0 |
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Net operating
income |
0.2 |
0.2 |
0.2 |
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Total financial
income |
0.0 |
- |
0.0 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
0.2 |
0.2 |
0.2 |
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Extraordinary result |
0.0 |
- |
0.0 |
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Profit after extraordinary items and
before tax |
0.2 |
0.2 |
0.2 |
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Total taxation |
0.1 |
0.1 |
0.1 |
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Net profit |
0.1 |
0.1 |
0.1 |
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 |
4.8 |
4.9 |
5.1 |
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Provision for pensions |
0.0 |
0.0 |
0.0 |
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Other long-term liabilities |
0.2 |
0.1 |
0.1 |
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Trade creditors |
-0.1 |
0.4 |
1.2 |
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Bank loans and overdrafts |
0.9 |
0.0 |
0.2 |
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Other current liabilities |
0.1 |
0.2 |
0.1 |
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Accruals and deferred income |
0.1 |
0.1 |
0.2 |
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Total current
liabilities |
1.1 |
0.7 |
1.7 |
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Total
liabilities (including net worth) |
6.2 |
5.7 |
6.9 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible
fixed assets |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
0.0 |
0.0 |
0.0 |
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Net stocks and work in progress |
3.6 |
3.1 |
4.8 |
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Trade debtors |
1.9 |
2.0 |
1.6 |
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Other receivables |
0.1 |
0.1 |
0.1 |
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Cash and liquid assets |
0.2 |
0.4 |
0.4 |
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Accruals |
0.4 |
0.0 |
0.0 |
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Total current
assets |
6.1 |
5.6 |
6.9 |
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Total assets |
6.2 |
5.7 |
6.9 |
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 |
5.70 |
8.20 |
4.00 |
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Quick ratio |
2.30 |
3.60 |
1.20 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
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Sales per employee |
- |
1.61 |
1.41 |
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Average wage per employee |
- |
0.01 |
0.01 |
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Net worth |
4.8 |
4.9 |
5.1 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian
Rupees |
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US Dollar |
1 |
Rs.54.97 |
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UK Pound |
1 |
Rs.88.10 |
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Euro |
1 |
Rs.71.66 |
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 |
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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.