MIRA
INFORM REPORT
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Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
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Name : |
EUROMAC SRL
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Registered Office : |
Via Dell' Industria 62, Marano Vicentino, 36035 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.05.1999 |
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Com. Reg. No.: |
02763250244 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Manufacturer of machinery for mining; Manufacturer of earth-moving equipment Manufacturer of equipment for concrete crushing and screening and
roadworks |
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No. of Employees : |
03 |
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 |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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, 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.
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Source : CIA |
Company name & address
Euromac SRL
Via Dell' Industria 62
Marano Vicentino, 36035
Italy
Tel: +39 0445 637629
Fax: +39 0445 639057
Synthesis
Employees: 3
Company Type: Private Independent
Incorporation Date:
11-May-1999
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 4.2
Total Assets: 2.2
Business Description
Euromac SRL is
primarily engaged in manufacture of machinery for mining; manufacture of
earth-moving equipment;and manufacture of equipment for concrete crushing and
screening and roadworks.
Industry
Industry Construction and Agriculture
Machinery
ANZSIC 2006: 2462 - Mining and
Construction Machinery Manufacturing
NACE 2002: 2952 - Manufacture
of machinery for mining, quarrying and construction
NAICS 2002: 3331 -
Agriculture, Construction, and Mining Machinery Manufacturing
UK SIC 2003: 2952 - Manufacture
of machinery for mining, quarrying and construction
UK SIC 2007: 2892 - Manufacture
of machinery for mining, quarrying and construction
US SIC 1987: 3532 - Mining
Machinery and Equipment, Except Oil and Gas Field Machinery and Equipment
Key
Executives
Name Title
Michele Pietribiasi Sole
administrator
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Via Dell' Industria 62
Marano Vicentino, 36035
Italy
Tel: +39 0445 637629
Fax: +39 0445 639057
Sales EUR(mil): 3.0
Assets EUR(mil): 1.7
Employees: 3
Fiscal Year End: 31-Dec-2011
Industry: Construction and Agriculture
Machinery
Incorporation Date: 11-May-1999
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(ITA): 02763250244
Sole administrator: Michele
Pietribiasi
Industry Codes
ANZSIC 2006 Codes:
2462 - Mining and Construction Machinery Manufacturing
NACE 2002 Codes:
2952 - Manufacture of machinery for mining, quarrying and
construction
NAICS 2002 Codes:
3331 - Agriculture, Construction, and Mining Machinery
Manufacturing
US SIC 1987:
3532 - Mining Machinery and Equipment, Except Oil and Gas Field
Machinery and Equipment
UK SIC 2003:
2952 - Manufacture of machinery for mining, quarrying and
construction
UK SIC 2007:
2892 - Manufacture of machinery for mining, quarrying and
construction
Business
Description
Euromac SRL is
primarily engaged in manufacture of machinery for mining; manufacture of
earth-moving equipment;and manufacture of equipment for concrete crushing and
screening and roadworks.
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Executive report
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Executives |
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Sole administrator |
President |
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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 |
4.5 |
2.7 |
3.1 |
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Net sales |
4.2 |
2.7 |
3.1 |
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Other operating income |
0.1 |
- |
- |
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Raw materials and consumables employed |
3.2 |
1.9 |
1.8 |
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Other expenses |
1.1 |
0.8 |
1.3 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
0.0 |
0.0 |
0.0 |
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Net operating
income |
0.1 |
0.0 |
-0.1 |
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Total financial
income |
0.0 |
- |
0.0 |
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Total expenses |
0.0 |
0.0 |
- |
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Profit before tax |
0.0 |
0.0 |
-0.1 |
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Extraordinary result |
- |
0.0 |
0.0 |
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Profit after extraordinary items and before
tax |
0.0 |
0.0 |
-0.1 |
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Total taxation |
0.0 |
- |
- |
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Net profit |
0.0 |
0.0 |
- |
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Net loss |
- |
- |
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 |
0.3 |
0.3 |
0.3 |
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Trade creditors |
1.1 |
1.9 |
1.3 |
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Bank loans and overdrafts |
0.5 |
0.0 |
- |
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Other current liabilities |
0.3 |
0.6 |
0.4 |
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Total current
liabilities |
1.9 |
2.5 |
1.7 |
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Total
liabilities (including net worth) |
2.2 |
2.8 |
2.0 |
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Intangibles |
0.1 |
- |
- |
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Total tangible
fixed assets |
0.0 |
0.0 |
0.0 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Receivables due after 1 year |
- |
- |
0.6 |
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Total
non-current assets |
0.1 |
0.0 |
0.7 |
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Net stocks and work in progress |
0.7 |
0.9 |
1.1 |
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Trade debtors |
0.7 |
1.6 |
0.4 |
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Other receivables |
0.5 |
0.2 |
-0.4 |
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Owing from participants |
- |
- |
0.0 |
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Cash and liquid assets |
0.2 |
0.0 |
0.2 |
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Total current
assets |
2.1 |
2.8 |
1.4 |
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Total assets |
2.2 |
2.8 |
2.0 |
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 |
1.10 |
1.10 |
0.80 |
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Quick ratio |
0.70 |
0.80 |
0.10 |
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Current liabilities to net worth |
0.07% |
0.09% |
0.06% |
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Net worth |
0.3 |
0.3 |
0.3 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.85 |
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UK Pound |
1 |
Rs.92.31 |
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Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.