MIRA
INFORM REPORT
|
Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
NEW GEM SPA |
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Registered Office : |
Piazza Antonio Gramsci 12/G Valenza, 15048 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.02.1990 |
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Com. Reg. No.: |
01440770061 |
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Legal Form : |
Public Independent |
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Line of Business : |
Subject is engaged in wholesale of furniture |
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No. of Employees : |
6 |
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 : |
Moderate |
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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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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.
|
Source : CIA |
Company name and address
NEW GEM SPA
Piazza Antonio Gramsci 12/G
Valenza, 15048
Italy
Tel: +39
0131 945885
Fax: +39
0131 947885
Employees: 6
Company Type: Public
Independent
Incorporation
Date: 05-Feb-1990
Financials in: USD
(In Millions)
Fiscal Year End: 31-Dec-2011
Reporting
Currency: Euro
Annual Sales: 17.6
Total Assets: 11.2
Business Description
New Gem SpA is primarily engaged in wholesale of furniture; wholesale of
jewellery; wholesale of musical instruments; wholesale of photographic goods;
wholesale of toys and games; wholesale of travel and fancy goods; and wholesale
of other household goods 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: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
5094 -
Jewelry, Watches, Precious Stones, and Precious Metals |
Key Executives
|
Name |
Title |
|
Johann Wogerbauer |
Sole administrator |
News
|
Title |
Date |
|
The day
baseball left town |
6-Oct-2012 |
|
EDITORIAL:
York building shining a light on the arts |
4-Oct-2012 |
|
C4's
"Funny" Fortnight: big names... |
26-Aug-2012 |
|
Stand 128,
Lunch! 20 - 21 September 2012, Business Design Centre, London. |
6-Aug-2012 |
|
BrandOpus
creates new look for Lil-Lets |
17-Jul-2012 |
Registered No.(ITA): 01440770061
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Piazza
Antonio Gramsci 12/G
Valenza, 15048
Italy
Tel: +39 0131 945885
Fax: +39 0131 947885
Sales EUR(mil): 12.7
Assets EUR(mil): 8.6
Employees: 6
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous
Capital Goods
Incorporation Date: 05-Feb-1990
Company Type: Public Independent
Quoted Status: Not Quoted
Registered No.(ITA): 01440770061
Sole administrator: Johann Wogerbauer
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ANZSIC 2006 Codes: |
||
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3739 |
- |
Other Goods Wholesaling Not Elsewhere Classified |
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NACE 2002 Codes: |
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5147 |
- |
Wholesale of other household goods |
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NAICS 2002 Codes: |
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4232 |
- |
Furniture and Home Furnishing Merchant Wholesalers |
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US SIC 1987: |
||
|
5094 |
- |
Jewelry, Watches, Precious Stones, and Precious Metals |
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UK SIC 2003: |
||
|
5147 |
- |
Wholesale of other household goods |
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UK SIC 2007: |
||
|
4649 |
- |
Wholesale of other household goods |
New Gem SpA is primarily engaged in
wholesale of furniture; wholesale of jewellery; wholesale of musical
instruments; wholesale of photographic goods; wholesale of toys and games;
wholesale of travel and fancy goods; and wholesale of other household goods not
elsewhere classified.
|
|
Bank: Ubi Banca Popolare
Commercio e Industria Ag
Executives
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|||
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Sole administrator |
President |
News
|
The day
baseball left town |
06-Oct-2012 |
|
EDITORIAL:
York building shining a light on the arts |
04-Oct-2012 |
|
C4's
"Funny" Fortnight: big names... |
26-Aug-2012 |
|
Stand 128,
Lunch! 20 - 21 September 2012, Business Design Centre, London. |
06-Aug-2012 |
|
BrandOpus
creates new look for Lil-Lets |
17-Jul-2012 |
|
MIX - A new
Restaurant Concept Hits South Beach |
05-Jul-2012 |
|
GEM Restaurant
& Lounge opens in Downtown Crossing, offering classy comfort food,
cocktails, and luxury from Big Night Entertainment Group |
13-Apr-2012 |
|
The
Times-Tribune, Corbin, Ky., Charlotte Underwood column |
25-Jun-2012 |
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SolĂs Hotels
& Resorts Announces SolĂs Guangzhou, China |
25-Jun-2012 |
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Building a
natural high |
02-Jun-2012 |
Articles
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Eastmond's
first try shows Bath have a new gem |
09-Sep-2012 |
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United
Kingdom : New Gem for Princes Street |
07-Sep-2012 |
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Burlington
Arcade's new gem |
06-Jul-2012 |
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JEWELL BID
TO COPP NEW GEM; Football Spy |
17-Apr-2012 |
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JEWELL BID
TO COPP NEW GEM; Football Spy THE ORIGINAL GOSSIP COLUMN... LATEST NEWS...
THE BIGGEST MOVES... EVERY SINGLE DAY |
17-Apr-2012 |
|
Patel's a
new gem set to shine for Bidvest Wits |
21-Mar-2012 |
Annual
Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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 |
17.8 |
12.5 |
9.6 |
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Net sales |
17.6 |
12.5 |
9.6 |
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Other operating income |
0.2 |
0.0 |
0.0 |
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Raw materials and consumables employed |
16.4 |
10.8 |
8.2 |
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Other expenses |
0.6 |
0.6 |
0.6 |
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Total payroll costs |
0.3 |
0.3 |
0.3 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Other operating costs |
0.2 |
0.1 |
0.4 |
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Net operating income |
0.1 |
0.7 |
0.1 |
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Total financial income |
-0.1 |
0.0 |
0.4 |
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Total expenses |
0.3 |
0.2 |
0.3 |
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Profit before tax |
-0.3 |
0.5 |
0.2 |
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Profit after extraordinary items and before tax |
-0.3 |
0.5 |
0.2 |
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Total taxation |
0.0 |
0.2 |
0.2 |
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Net profit |
- |
0.3 |
0.1 |
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Net loss |
0.3 |
- |
- |
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 |
1.6 |
2.1 |
1.9 |
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Provision for risks |
- |
0.0 |
0.0 |
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Provision for pensions |
0.1 |
0.1 |
0.1 |
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Mortgages and loans |
0.8 |
1.3 |
0.7 |
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Trade creditors |
6.4 |
3.8 |
2.4 |
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Bank loans and overdrafts |
1.8 |
1.4 |
2.1 |
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Other current liabilities |
0.5 |
0.4 |
0.4 |
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Total current liabilities |
8.7 |
5.7 |
4.9 |
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Total liabilities (including net worth) |
11.2 |
9.1 |
7.7 |
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Buildings |
0.3 |
- |
- |
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Total tangible fixed assets |
0.5 |
0.5 |
0.4 |
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Total financial assets |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
0.5 |
0.5 |
0.4 |
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Net stocks and work in progress |
1.8 |
1.2 |
0.8 |
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Trade debtors |
8.4 |
6.8 |
5.9 |
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Other receivables |
0.3 |
0.1 |
0.1 |
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Cash and liquid assets |
0.1 |
0.5 |
0.5 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
10.7 |
8.7 |
7.2 |
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Total assets |
11.2 |
9.1 |
7.7 |
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 |
1.50 |
1.50 |
|
Quick ratio |
1.00 |
1.30 |
1.30 |
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Current liabilities to net worth |
0.06% |
0.03% |
0.03% |
|
Sales per employee |
2.11 |
1.58 |
1.15 |
|
Profit per employee |
-0.03 |
- |
- |
|
Average wage per employee |
0.04 |
0.04 |
0.04 |
|
Net worth |
1.6 |
2.1 |
1.9 |
|
Number of employees |
6 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
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%)