MIRA
INFORM REPORT
|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
LEATHERLINE SRL |
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Registered Office : |
Via Guglielmo Marconi
4/3 Zermeghedo, 36050 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.02.2002 |
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Com. Reg. No.: |
03169260233 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in production of tanned leather |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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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.
|
Source : CIA |
Company name and address
LEATHERLINE SRL
Via Guglielmo Marconi 4/3
Zermeghedo, 36050
Italy
Tel: +39 0444 441130
Fax: +39 0444 441183
Employees: 4
Company Type: Private Independent
Incorporation Date: 21-Feb-2002
Financials in: USD (In Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 9.8
Total Assets: 5.0
Business Description
Leatherline SRL is primarily engaged in production of tanned
leather; manufacture of chamois dressed, parchment dressed, patent or
metallised leathers; and manufacture of composition leather.
Industry
|
Industry |
|
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ANZSIC 2006: |
1320 -
Leather Tanning, Fur Dressing and Leather Product Manufacturing |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
1511 -
Tanning and dressing of leather; dressing and dyeing of fur |
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US SIC 1987: |
Key Executives
|
Name |
Title |
|
Mauro Facin |
Sole administrator |
|
Title |
Date |
|
PERFECT
PRESENTS |
12-Dec-2012 |
Registered No.(ITA): 03169260233
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Via Guglielmo Marconi 4/3
Zermeghedo, 36050
Italy
Tel: +39
0444 441130
Fax: +39
0444 441183
Sales EUR(mil): 7.0
Assets EUR(mil): 3.9
Employees: 4
Fiscal Year End: 31-Dec-2011
Industry: Apparel
and Accessories
Incorporation Date: 21-Feb-2002
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 03169260233
Sole administrator: Mauro Facin
|
ANZSIC 2006 Codes: |
||
|
1320 |
- |
Leather
Tanning, Fur Dressing and Leather Product Manufacturing |
|
NACE 2002 Codes: |
||
|
1910 |
- |
Tanning and dressing
of leather |
|
1920 |
- |
Manufacture of
luggage, handbags and the like, saddlery and harness |
|
NAICS 2002 Codes: |
||
|
316110 |
- |
Leather and
Hide Tanning and Finishing |
|
31699 |
- |
Other Leather
and Allied Product Manufacturing |
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US SIC 1987: |
||
|
3111 |
- |
Leather Tanning
and Finishing |
|
31 |
- |
Leather and
Leather Products |
|
UK SIC 2003: |
||
|
1910 |
- |
Tanning and
dressing of leather |
|
1920 |
- |
Manufacture of
luggage, handbags and the like, saddlery and harness |
|
UK SIC 2007: |
||
|
1511 |
- |
Tanning and
dressing of leather; dressing and dyeing of fur |
|
1512 |
- |
Manufacture of
luggage, handbags and the like, saddlery and harness |
Leatherline SRL is primarily engaged in production of tanned leather; manufacture of chamois dressed, parchment dressed, patent or metallised leathers; and manufacture of composition leather.
|
Financials in: |
EUR(mil) |
1 Year Growth |
|
Revenue: |
7.0 |
-21.5% |
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Assets: |
3.9 |
NA |
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Current Assets: |
3.5 |
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Total Liabilities: |
3.9 |
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Net Worth: |
0.4 |
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Date of Financial Data: |
31-Dec-2011 |
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Bank: |
Banca Popolare di Vicenza Ag |
Executives
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|||
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Sole administrator |
President |
News
|
PERFECT
PRESENTS |
12-Dec-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 |
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Consolidated |
No |
No |
No |
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Total income |
9.7 |
11.8 |
8.8 |
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Net sales |
9.8 |
11.9 |
8.2 |
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Other operating income |
0.0 |
0.0 |
0.1 |
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Raw materials and consumables employed |
6.1 |
6.5 |
6.6 |
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Other expenses |
3.0 |
4.7 |
1.8 |
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Total payroll costs |
0.2 |
0.4 |
0.2 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.0 |
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Other operating costs |
0.1 |
0.1 |
0.0 |
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Net operating income |
0.2 |
0.2 |
0.1 |
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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 |
0.1 |
0.1 |
0.0 |
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Profit after extraordinary items and before tax |
0.1 |
0.1 |
0.0 |
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Total taxation |
0.1 |
0.1 |
0.0 |
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Net profit |
0.0 |
0.0 |
0.0 |
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 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
0.5 |
0.5 |
0.6 |
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Provision for pensions |
0.0 |
0.1 |
0.1 |
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Mortgages and loans |
0.7 |
0.4 |
0.2 |
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Other long-term liabilities |
0.1 |
0.1 |
0.2 |
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Trade creditors |
0.5 |
1.8 |
2.0 |
|
Bank loans and overdrafts |
3.0 |
3.2 |
1.9 |
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Other current liabilities |
0.1 |
0.1 |
0.1 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
3.7 |
5.1 |
4.0 |
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Total liabilities (including net worth) |
5.0 |
6.2 |
5.0 |
|
Total tangible fixed assets |
0.4 |
0.2 |
0.0 |
|
Receivables due after 1 year |
0.0 |
0.0 |
0.1 |
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Total non-current assets |
0.4 |
0.2 |
0.2 |
|
Finished goods |
1.2 |
1.3 |
1.5 |
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Net stocks and work in progress |
1.2 |
1.4 |
1.5 |
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Trade debtors |
3.1 |
4.4 |
3.3 |
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Other receivables |
0.0 |
0.1 |
0.0 |
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Cash and liquid assets |
0.2 |
0.1 |
0.1 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
4.6 |
6.0 |
4.8 |
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Total assets |
5.0 |
6.2 |
5.0 |
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 |
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Consolidated |
No |
No |
No |
|
|
|
|
|
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Current ratio |
1.20 |
1.20 |
1.20 |
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Quick ratio |
0.90 |
0.90 |
0.80 |
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Current liabilities to net worth |
0.07% |
0.10% |
0.07% |
|
Sales per employee |
0.88 |
0.90 |
0.66 |
|
Profit per employee |
0.01 |
0.00 |
0.00 |
|
Average wage per employee |
0.02 |
0.03 |
0.02 |
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Net worth |
0.5 |
0.5 |
0.6 |
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Number of employees |
8 |
10 |
9 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
|
1 |
Rs.87.69 |
|
Euro |
1 |
Rs.72.85 |
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.