MIRA INFORM REPORT
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Report Date : |
26.03.2013 |
IDENTIFICATION DETAILS
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Name : |
LAMBERTI SPA |
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Registered Office : |
Via Marsala 38, Gallarate, 21013 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.05.1979 |
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Com. Reg. No.: |
04453840151 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacturer
of various chemical products: peptones, peptone derivatives, other protein
substances and their derivatives |
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No. of Employees : |
726 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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
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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
Lamberti SpA
Via Marsala 38
Gallarate, 21013
Italy
Tel: 39 (0331) 715111
Fax: +39 0331 775577
Web: www.lamberti.com
Synthesis
Employees: 726
Company Type: Public Subsidiary
Corporate Family: 5
Companies
Ultimate Parent: TAO SPA
Incorporation Date:
22-May-1979
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 344.3
Total Assets: 228.4
Business Description
Lamberti SpA is primarily engaged in manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives not elsewhere classified; chemically modified oils and fats; materials used in the finishing of textiles and leather; powders and pastes used in soldering, brazing or welding; substances used to pickle metal; prepared additives for cements; activated carbon, lubricating oil additives, prepared rubber accelerators, catalysts and other chemical products for industrial use; anti-knock preparations, anti-freeze preparations, liquids for hydraulic transmission; and composite diagnostic or laboratory reagents. This class also includes: manufacture of writing and drawing ink.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1813 - Basic
Inorganic Chemical Manufacturing
NACE 2002: 2413 - Manufacture
of other inorganic basic chemicals
NAICS 2002: 325188 - All Other
Basic Inorganic Chemical Manufacturing
UK SIC 2003: 2413 - Manufacture
of other inorganic basic chemicals
UK SIC 2007: 2013 - Manufacture
of other inorganic basic chemicals
US SIC 1987: 2819 - Industrial
Inorganic Chemicals, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Carlo Lamberti |
Managing director |
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Roberto Porro |
General Manager |
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Paolo Alberto Lamberti |
Vice president |
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Cesare Azzolini |
Executive |
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Silvano Zocchi |
Member of the board |
News
|
Title |
Date |
|
Mistakes
cost UHV baseball against A&M-Corpus Christi |
23-Mar-2013 |
|
Southern
Connecticut Conference Winter All-Conference Teams |
23-Mar-2013 |
|
Combined
experimental and theoretical investigation of the hemi-squaraine/TiO2
interface for dye sensitized solar cells. |
19-Mar-2013 |
|
Broward GOP
chooses new leader |
19-Mar-2013 |
|
BOYS
BASKETBALL: Final area scoring leaders |
18-Mar-2013 |
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Broward GOP
to choose leader at Monday night meeting |
18-Mar-2013 |
Registered No.(ITA): 04453840151
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 Marsala 38
Gallarate, 21013
Italy
Tel: 39 (0331) 715111
Fax: +39 0331 775577
Web: www.lamberti.com
Sales EUR(mil) : 247.6
Assets EUR(mil): 175.9
Employees: 726
Fiscal Year End: 31-Dec-2011
Industry: Chemical
Manufacturing
Incorporation Date: 22-May-1979
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 04453840151
General Manager: Roberto
Porro
Industry Codes
ANZSIC 2006 Codes:
1813 - Basic Inorganic Chemical Manufacturing
1812 - Basic Organic Chemical Manufacturing
NACE 2002 Codes:
2413 - Manufacture of other inorganic basic chemicals
2414 - Manufacture of other organic basic chemicals
NAICS 2002 Codes:
325188 - All Other Basic Inorganic Chemical Manufacturing
325199 - All Other Basic Organic Chemical Manufacturing
US SIC 1987:
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
UK SIC 2003:
2413 - Manufacture of other inorganic basic chemicals
2414 - Manufacture of other organic basic chemicals
UK SIC 2007:
2013 - Manufacture of other inorganic basic chemicals
2014 - Manufacture of other organic basic chemicals
Business
Description
Production of industrial chemicals
More Business
Descriptions
Lamberti SpA is primarily engaged in manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives not elsewhere classified; chemically modified oils and fats; materials used in the finishing of textiles and leather; powders and pastes used in soldering, brazing or welding; substances used to pickle metal; prepared additives for cements; activated carbon, lubricating oil additives, prepared rubber accelerators, catalysts and other chemical products for industrial use; anti-knock preparations, anti-freeze preparations, liquids for hydraulic transmission; and composite diagnostic or laboratory reagents. This class also includes: manufacture of writing and drawing ink.
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Corporate
Family |
Corporate
Structure News: |
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Lamberti SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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TAO SPA |
Parent |
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Subsidiary |
Gallarate, VA |
Italy |
Chemical Manufacturing |
344.3 |
742 |
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Subsidiary |
Liergues |
France |
Chemical Manufacturing |
19.1 |
34 |
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Subsidiary |
Istanbul (Europe) |
Turkey |
Chemical Manufacturing |
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18 |
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Subsidiary |
Nova Odessa, Sao Paulo |
Brazil |
Chemical Manufacturing |
52.4 |
1 |
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Executive Report
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Board of
Directors |
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Member of the board |
Director/Board Member |
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Executives |
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General Manager |
Division Head Executive |
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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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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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Executive |
Other |
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Vice president |
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 |
349.5 |
315.5 |
256.4 |
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Net sales |
344.3 |
310.4 |
256.3 |
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Other operating income |
4.2 |
1.7 |
3.5 |
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Raw materials and consumables employed |
209.7 |
179.2 |
139.9 |
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Other expenses |
61.4 |
59.9 |
50.3 |
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Total payroll costs |
63.5 |
59.2 |
57.9 |
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Fixed asset depreciation and amortisation |
11.7 |
12.8 |
13.6 |
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Other operating costs |
2.7 |
- |
2.8 |
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Net operating income |
0.3 |
4.5 |
-8.1 |
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Total financial income |
4.0 |
2.9 |
16.2 |
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Total expenses |
4.4 |
5.1 |
6.1 |
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Profit before tax |
-0.2 |
2.3 |
2.0 |
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Extraordinary result |
3.3 |
0.2 |
1.1 |
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Profit after extraordinary items and before tax |
3.1 |
2.5 |
3.1 |
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Total taxation |
1.0 |
0.3 |
0.4 |
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Net profit |
2.0 |
2.2 |
2.7 |
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 |
47.3 |
48.8 |
50.0 |
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Provision for risks |
2.6 |
2.5 |
2.1 |
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Provision for pensions |
15.1 |
15.5 |
16.3 |
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Mortgages and loans |
46.2 |
20.8 |
18.4 |
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Other long-term liabilities |
31.5 |
18.4 |
46.6 |
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Trade creditors |
57.2 |
67.0 |
57.6 |
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Bank loans and overdrafts |
8.3 |
7.1 |
10.6 |
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Other current liabilities |
19.7 |
52.1 |
29.6 |
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Accruals and deferred income |
0.4 |
0.8 |
1.2 |
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Total current liabilities |
85.7 |
127.0 |
99.0 |
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Total liabilities (including net worth) |
228.4 |
232.9 |
232.2 |
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Intangibles |
5.0 |
5.8 |
7.0 |
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Buildings |
16.0 |
16.7 |
19.4 |
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Total tangible fixed assets |
50.2 |
50.4 |
55.3 |
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Long-term investments |
28.8 |
30.3 |
24.9 |
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Total financial assets |
30.2 |
32.7 |
27.5 |
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Receivables due after 1 year |
2.6 |
2.1 |
0.0 |
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Loans to associated companies |
1.0 |
1.9 |
2.2 |
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Total non-current assets |
88.1 |
91.1 |
90.0 |
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Finished goods |
15.4 |
15.5 |
14.8 |
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Net stocks and work in progress |
49.4 |
41.0 |
33.2 |
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Trade debtors |
59.3 |
60.2 |
60.7 |
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Other receivables |
27.7 |
27.5 |
29.3 |
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Cash and liquid assets |
3.4 |
1.8 |
6.7 |
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Marketable securities |
- |
10.7 |
11.4 |
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Accruals |
0.5 |
0.7 |
1.0 |
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Total current assets |
140.3 |
141.8 |
142.3 |
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Total assets |
228.4 |
232.9 |
232.2 |
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
1.60 |
1.10 |
1.40 |
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Quick ratio |
1.10 |
0.80 |
1.10 |
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Current liabilities to net worth |
0.02% |
0.03% |
0.02% |
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Sales per employee |
0.34 |
0.32 |
0.26 |
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Profit per employee |
0.00 |
0.00 |
0.00 |
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Average wage per employee |
0.06 |
0.06 |
0.06 |
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Net worth |
47.3 |
48.8 |
50.0 |
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Number of employees |
726 |
722 |
705 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.09 |
|
UK Pound |
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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---- |
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.