|
Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
INOX MARE SRL |
|
|
|
|
Registered Office : |
Via Pomposa 51/I Rimini, 47924 |
|
|
|
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Country : |
Italy |
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|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.09.1999 |
|
|
|
|
Com. Reg. No.: |
02980000232 |
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|
|
Legal Form : |
Private Subsidiary |
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|
|
|
Line of Business : |
Wholesale of metals and metal ores |
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|
|
|
No. of Employees : |
84 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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, highly subsidized, agricultural south, where unemployment is
high. 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 its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 126%
of GDP in 2012, and investor concerns about the broader euro-zone crisis at
times have caused borrowing costs on sovereign government debt to rise to
euro-era. During the second half of 2011 the government passed three austerity
packages to reduce its budget deficit and help bring down borrowing costs.
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 sustain its recent efforts to address
Italy's long-standing structural impediments to growth, such as labor market
inefficiencies and widespread tax evasion. In 2012 economic growth and labor
market conditions deteriorated, with growth at -2.3% and unemployment rising to
nearly 11%, with youth unemployment around 35%. The government has undertaken
several reform initiatives designed to increase long-term economic growth.
Italy's GDP is now 7% below its 2007 pre-crisis level.
Source
: CIA
Inox Mare SRL
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Business
Description
|
Inox Mare 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 |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
423520 - Coal and Other Mineral and Ore Merchant
Wholesalers |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
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Inox Mare SRL |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
WĂ¼rth Holding GmbH |
Parent |
|
|
|
|
|
|
Subsidiary |
Chur |
Switzerland |
Construction and Hardware Materials Wholesale |
1,108.3 |
377 |
|
|
Subsidiary |
Erstein |
France |
Construction and Hardware Materials Wholesale |
731.4 |
3,746 |
|
|
Subsidiary |
Molsheim |
France |
Chemical Wholesale |
4.6 |
7 |
|
|
Subsidiary |
Meyzieu |
France |
Metal Products Manufacturing |
|
|
|
|
Subsidiary |
Palau De Plegamans, Barcelona |
Spain |
Machinery Wholesale |
306.9 |
2,918 |
|
|
Subsidiary |
Egna, BZ |
Italy |
Chemical Wholesale |
575.9 |
2,886 |
|
|
Subsidiary |
Bussolengo, Verona |
Italy |
Shipping and Water Transport |
42.9 |
142 |
|
|
Subsidiary |
Rimini, Rimini |
Italy |
Metals and Minerals Wholesale |
67.5 |
84 |
|
|
Subsidiary |
Fiumicino, Roma |
Italy |
Metals and Minerals Wholesale |
4.4 |
13 |
|
|
Subsidiary |
Belfiore, Verona |
Italy |
Metals and Minerals Wholesale |
35.3 |
136 |
|
|
Subsidiary |
Terlano, Bolzano |
Italy |
Chemical Wholesale |
24.4 |
120 |
|
|
Subsidiary |
Bolzano, Bolzano |
Italy |
Software |
19.8 |
110 |
|
|
Subsidiary |
Termeno Sulla Strada Del Vino, Bolzano |
Italy |
Machinery Wholesale |
23.4 |
98 |
|
|
Subsidiary |
Terlano, Bolzano |
Italy |
Construction and Hardware Materials Wholesale |
31.6 |
68 |
|
|
Subsidiary |
Arcole, Verona |
Italy |
Construction and Hardware Materials Wholesale |
20.5 |
55 |
|
|
Subsidiary |
Caronno Pertusella, Varese |
Italy |
Construction and Hardware Materials Wholesale |
25.3 |
51 |
|
|
Subsidiary |
Padova, Padova |
Italy |
Construction and Hardware Materials Wholesale |
17.4 |
49 |
|
|
Subsidiary |
Terlano, Bolzano |
Italy |
Electronics Wholesale |
8.6 |
26 |
|
|
Subsidiary |
San Giovanni Lupatoto, Verona |
Italy |
Construction and Hardware Materials Wholesale |
11.4 |
16 |
|
|
Subsidiary |
Riihimäki |
Finland |
Machinery and Equipment Manufacturing |
309.6 |
1,122 |
|
|
Subsidiary |
Nurmijarvi |
Finland |
Construction and Hardware Materials Wholesale |
36.8 |
|
|
|
Subsidiary |
Sintra, Lisboa |
Portugal |
Construction and Hardware Materials Wholesale |
76.4 |
828 |
|
|
Subsidiary |
's-Hertogenbosch |
Netherlands |
Motor Vehicle Wholesale |
117.9 |
580 |
|
|
Subsidiary |
Eindhoven, Noord-Brabant |
Netherlands |
Machinery Wholesale |
15.6 |
|
|
|
Subsidiary |
Mlada Boleslav |
Czech Republic |
Construction and Hardware Materials Wholesale |
56.7 |
438 |
|
|
Subsidiary |
Tianjin, Tianjin |
China |
Construction and Hardware Materials Wholesale |
16.4 |
400 |
|
|
Subsidiary |
Lat Phrao, Bangkok |
Thailand |
Motor Vehicle Wholesale |
|
150 |
|
|
Subsidiary |
Vilnius |
Lithuania |
Construction and Hardware Materials Wholesale |
8.7 |
104 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Construction and Hardware Materials Wholesale |
68.7 |
100 |
|
|
Subsidiary |
Mundolsheim |
France |
Construction and Hardware Materials Wholesale |
22.0 |
86 |
|
|
Subsidiary |
Riga |
Latvia |
Construction and Hardware Materials Wholesale |
5.4 |
62 |
|
|
Subsidiary |
Meyzieu |
France |
Home Furnishings Wholesale |
17.0 |
60 |
|
|
Subsidiary |
Shanghai, Shanghai |
China |
Metal Products Manufacturing |
2.6 |
50 |
|
|
Subsidiary |
Wetzikon |
Switzerland |
Paint, Coating, and Adhesive Manufacturing |
|
38 |
|
|
Subsidiary |
Bad Mergentheim, Baden-WĂ¼rttemberg |
Germany |
Chemical Wholesale |
1.9 |
6 |
|
|
Subsidiary |
Manukau City, 02 |
New Zealand |
Miscellaneous Wholesale |
1.6 |
35 |
|
|
Subsidiary |
Erstein, Krafft |
France |
Metal Products Manufacturing |
51.7 |
34 |
|
|
Subsidiary |
Seoul, Seoul |
Korea, Republic of |
Motor Vehicle Wholesale |
2.8 |
30 |
|
|
Subsidiary |
Shenyang, Liaoning |
China |
Construction and Hardware Materials Wholesale |
2.1 |
12 |
|
|
Subsidiary |
Istanbul (Europe) |
Turkey |
Motor Vehicle Wholesale |
54.4 |
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Construction and Hardware Materials Wholesale |
34.1 |
|
|
|
Subsidiary |
Deurne, Noord-Brabant |
Netherlands |
Construction and Hardware Materials Wholesale |
19.6 |
|
|
|
Subsidiary |
Ekaterinburg |
Russian Federation |
Machinery Wholesale |
8.3 |
|
|
|
Subsidiary |
Erith |
United Kingdom |
Miscellaneous Professional Services |
0.0 |
|
|
|
Subsidiary |
Erith |
United Kingdom |
Motor Vehicle and Parts Dealers |
89.8 |
713 |
|
|
Subsidiary |
Croydon |
United Kingdom |
Construction and Hardware Materials Wholesale |
|
135 |
|
|
Subsidiary |
West Bromwich |
United Kingdom |
Miscellaneous Wholesale |
10.5 |
83 |
|
|
Subsidiary |
Solihull |
United Kingdom |
Metal Products Manufacturing |
3.2 |
40 |
|
|
Subsidiary |
Wednesbury |
United Kingdom |
Miscellaneous Wholesale |
|
|
|
|
Subsidiary |
Wednesbury |
United Kingdom |
Miscellaneous Wholesale |
|
|
|
|
Subsidiary |
Wednesbury |
United Kingdom |
Miscellaneous Wholesale |
|
|
|
|
Subsidiary |
Wednesbury |
United Kingdom |
Miscellaneous Wholesale |
|
|
|
|
UK Branch/Trading address |
Norwich |
United Kingdom |
Miscellaneous Wholesale |
|
|
Executives
Report
|
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
68.6 |
70.7 |
59.8 |
|
Net sales |
67.5 |
70.0 |
59.0 |
|
Other operating income |
1.1 |
0.7 |
0.8 |
|
Raw materials and consumables employed |
57.6 |
59.8 |
47.6 |
|
Other expenses |
5.1 |
4.8 |
3.7 |
|
Total payroll costs |
3.8 |
4.0 |
3.4 |
|
Fixed asset depreciation and amortisation |
0.7 |
0.5 |
0.9 |
|
Other operating costs |
0.1 |
0.2 |
0.1 |
|
Net operating income |
1.4 |
1.4 |
4.1 |
|
Total financial income |
0.1 |
0.1 |
0.5 |
|
Total expenses |
0.3 |
0.3 |
0.2 |
|
Profit before tax |
1.2 |
1.1 |
4.4 |
|
Extraordinary result |
0.2 |
- |
0.0 |
|
Profit after extraordinary items and before tax |
1.4 |
1.1 |
4.4 |
|
Total taxation |
0.5 |
0.5 |
1.4 |
|
Net profit |
0.9 |
0.6 |
3.0 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total stockholders equity |
14.4 |
14.0 |
14.4 |
|
Provision for risks |
0.1 |
0.1 |
0.2 |
|
Provision for pensions |
0.2 |
0.2 |
0.2 |
|
Trade creditors |
4.4 |
3.3 |
5.3 |
|
Other current liabilities |
11.5 |
10.7 |
10.9 |
|
Accruals and deferred income |
0.1 |
0.1 |
0.1 |
|
Total current liabilities |
16.1 |
14.1 |
16.2 |
|
Total liabilities (including net worth) |
30.8 |
28.4 |
31.0 |
|
Intangibles |
0.6 |
0.7 |
0.8 |
|
Total tangible fixed assets |
0.8 |
1.0 |
1.2 |
|
Long-term investments |
0.1 |
0.1 |
0.1 |
|
Total financial assets |
0.1 |
0.1 |
0.1 |
|
Receivables due after 1 year |
- |
0.0 |
0.2 |
|
Total non-current assets |
1.5 |
1.8 |
2.3 |
|
Finished goods |
15.1 |
11.7 |
12.5 |
|
Net stocks and work in progress |
15.7 |
13.9 |
14.5 |
|
Trade debtors |
10.4 |
9.2 |
11.3 |
|
Other receivables |
3.2 |
3.4 |
2.9 |
|
Cash and liquid assets |
0.0 |
0.0 |
0.0 |
|
Accruals |
0.0 |
0.0 |
0.0 |
|
Total current assets |
29.4 |
26.6 |
28.7 |
|
Total assets |
30.8 |
28.4 |
31.0 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.80 |
1.90 |
1.80 |
|
Quick ratio |
0.80 |
0.90 |
0.90 |
|
Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
|
Sales per employee |
0.63 |
0.62 |
0.60 |
|
Profit per employee |
0.01 |
0.01 |
0.04 |
|
Average wage per employee |
0.04 |
0.04 |
0.03 |
|
Net worth |
14.4 |
14.0 |
14.4 |
|
Number of employees |
83 |
81 |
74 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.29 |
|
|
1 |
Rs.91.18 |
|
Euro |
1 |
Rs.78.71 |
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.