MIRA
INFORM REPORT
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Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
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Name : |
AMCO VEBA SRL |
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Registered Office : |
Via Albert Einstein 4, Poviglio, 42028 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.03.1980 |
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Com. Reg. No.: |
00907570352 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
manufacturer
of hand operated or power driven lifting, handling, loading or unloading
machinery (pulley tackle and hoists, winches, capstans and jacks; derricks,
cranes, mobile lifting frames, straddle carriers, etc.; |
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No. of Employees : |
114 |
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 : |
Unknown |
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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 |
Company name & address
Amco Veba SRL
Via Albert Einstein 4
Poviglio, 42028
Italy
Tel: +39 0522 408011
Fax: +39 0522 408080
Synthesis
Employees: 114
Company Type: Private Subsidiary
Corporate Family: 6
Companies
Ultimate Parent: Hyva Securities B.V.
Incorporation Date:
24-Mar-1980
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 50.0
Total Assets: 35.1
Business Description
Amco Veba SRL is primarily engaged in manufacture of hand operated or power driven lifting, handling, loading or unloading machinery (pulley tackle and hoists, winches, capstans and jacks; derricks, cranes, mobile lifting frames, straddle carriers, etc.; works trucks, whether or not fitted with lifting or handling equipment whether or not self-propelled, of the type used in factories;mechanical manipulators and industrial robots specifically designed for lifting, handling, loading or unloading); manufacture of conveyors, teleferics, etc.; and manufacture of lifts, escalators and moving walkways. This class also includes: maintenance of lifts and escalators.
Industry
Industry Construction and Agriculture
Machinery
ANZSIC 2006: 2462 - Mining and
Construction Machinery Manufacturing
NACE 2002: 2922 - Manufacture
of lifting and handling equipment
NAICS 2002: 33392 - Material
Handling Equipment Manufacturing
UK SIC 2003: 2922 - Manufacture
of lifting and handling equipment
UK SIC 2007: 2822 - Manufacture
of lifting and handling equipment
US SIC 1987: 3536 - Overhead
Traveling Cranes, Hoists, and Monorail Systems
Key Executives
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Name |
Title |
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Giancarlo Perego |
President |
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Jacob Biemond |
Executive |
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Giacomo Davoli |
Executive |
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Marco Ganassi |
Executive |
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Leonardo Gennari |
Executive |
news
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Title |
Date |
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CraneKing appoints new Business
Development Manager |
11-Mar-2013 |
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Business development manager for CraneK ing |
20-Feb-2013 |
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MET Marine to Promote Crane for Offshore Wind
Sector at Seawork 2013 (UK) |
6-Sep-2012 |
Registered No.(ITA): 00907570352
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 Albert Einstein 4
Poviglio, 42028
Italy
Tel: +39 0522 408011
Fax: +39 0522 408080
Sales EUR(mil): 36.0
Assets EUR(mil): 27.1
Employees: 114
Fiscal Year End: 31-Dec-2011
Industry: Construction
and Agriculture Machinery
Incorporation Date: 24-Mar-1980
Company Type: Private Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 00907570352
President: Giancarlo
Perego
Industry Codes
ANZSIC 2006 Codes:
2462 - Mining and Construction Machinery Manufacturing
NACE 2002 Codes:
2922 - Manufacture of lifting and handling equipment
NAICS 2002 Codes:
33392 - Material Handling Equipment Manufacturing
US SIC 1987:
3536 - Overhead Traveling Cranes, Hoists, and Monorail Systems
UK SIC 2003:
2922 - Manufacture of lifting and handling equipment
UK SIC 2007:
2822 - Manufacture of lifting and handling equipment
Business
Description
Amco Veba SRL is
primarily engaged in manufacture of hand operated or power driven lifting, handling,
loading or unloading machinery (pulley tackle and hoists, winches, capstans and
jacks; derricks, cranes, mobile lifting frames, straddle carriers, etc.; works
trucks, whether or not fitted with lifting or handling equipment whether or not
self-propelled, of the type used in factories;mechanical manipulators and
industrial robots specifically designed for lifting, handling, loading or
unloading); manufacture of conveyors, teleferics, etc.; and manufacture of
lifts, escalators and moving walkways. This class also includes: maintenance of
lifts and escalators.
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Corporate Family |
Corporate
Structure News: |
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Amco Veba SRL |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Hyva Securities B.V. |
Parent |
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Technamics B.V. |
Subsidiary |
Hoogeveen, Drenthe |
Netherlands |
Construction and Agriculture Machinery |
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47 |
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Subsidiary |
Milano, Milano |
Italy |
Business Services |
0.0 |
1 |
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Subsidiary |
Poviglio, Reggio Emilia |
Italy |
Construction and Agriculture Machinery |
50.0 |
113 |
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Subsidiary |
Brescello, Reggio Emilia |
Italy |
Construction - Supplies and Fixtures |
12.3 |
34 |
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Subsidiary |
Poviglio, Reggio Emilia |
Italy |
Construction and Agriculture Machinery |
14.3 |
8 |
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Executive report
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Executives |
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President |
President |
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Managing director |
Managing Director |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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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 |
50.2 |
38.4 |
26.7 |
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Net sales |
50.0 |
38.1 |
29.2 |
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Other operating income |
0.1 |
0.1 |
0.1 |
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Raw materials and consumables employed |
36.6 |
28.2 |
17.5 |
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Other expenses |
4.4 |
3.9 |
3.6 |
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Total payroll costs |
8.1 |
7.8 |
6.7 |
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Fixed asset depreciation and amortisation |
0.5 |
0.6 |
0.7 |
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Other operating costs |
0.2 |
0.2 |
0.6 |
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Net operating income |
0.4 |
-2.3 |
-2.4 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.7 |
0.3 |
0.5 |
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Profit before tax |
-0.3 |
-2.5 |
-3.0 |
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Extraordinary result |
0.3 |
0.2 |
0.7 |
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Profit after extraordinary items and before tax |
0.0 |
-2.3 |
-2.2 |
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Total taxation |
0.0 |
-0.9 |
-0.1 |
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Net profit |
0.0 |
- |
- |
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Net loss |
- |
1.4 |
2.2 |
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 |
2.9 |
3.0 |
4.7 |
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Provision for risks |
0.2 |
0.3 |
0.3 |
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Provision for pensions |
0.7 |
0.9 |
1.0 |
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Mortgages and loans |
- |
6.4 |
9.5 |
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Other long-term liabilities |
11.7 |
4.8 |
3.7 |
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Trade creditors |
13.5 |
12.9 |
7.9 |
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Bank loans and overdrafts |
- |
1.4 |
2.3 |
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Other current liabilities |
5.2 |
2.9 |
3.9 |
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Accruals and deferred income |
0.9 |
0.3 |
0.2 |
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Total current liabilities |
19.6 |
17.5 |
14.3 |
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Total liabilities (including net worth) |
35.1 |
32.8 |
33.5 |
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Intangibles |
0.2 |
0.3 |
0.3 |
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Buildings |
0.5 |
0.6 |
0.7 |
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Total tangible fixed assets |
1.2 |
1.4 |
1.8 |
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Long-term investments |
5.1 |
5.3 |
5.4 |
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Total financial assets |
5.3 |
5.5 |
5.6 |
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Total non-current assets |
6.7 |
7.1 |
7.8 |
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Finished goods |
1.3 |
1.3 |
1.2 |
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Net stocks and work in progress |
7.5 |
8.5 |
8.0 |
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Trade debtors |
10.8 |
8.2 |
7.7 |
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Other receivables |
6.7 |
5.7 |
6.8 |
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Cash and liquid assets |
3.5 |
3.3 |
3.1 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
28.4 |
25.6 |
25.7 |
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Total assets |
35.1 |
32.8 |
33.5 |
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 |
1.40 |
1.50 |
1.80 |
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Quick ratio |
1.10 |
1.00 |
1.20 |
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Current liabilities to net worth |
0.07% |
0.06% |
0.03% |
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Sales per employee |
0.32 |
0.22 |
0.14 |
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Profit per employee |
- |
-0.01 |
-0.01 |
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Average wage per employee |
0.05 |
0.04 |
0.03 |
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Net worth |
2.9 |
3.0 |
4.7 |
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Number of employees |
114 |
132 |
152 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
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UK Pound |
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
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 |
|
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 |
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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.