MIRA INFORM REPORT
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Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MAGALDI POWER SPA |
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Registered Office : |
Via Irno 219 Salerno, 84135 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.12.2001 |
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Com. Reg. No.: |
03854270653 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Subjkect is engaged in architectural activities; urban planning and landscape architectural activities; quantity surveying activities |
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No. of Employees : |
190 |
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 – 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
Source
: CIA
Company name and address
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Magaldi Power SpA |
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Business Description
Magaldi Power SpA is primarily engaged in architectural activities; urban planning and landscape architectural activities; quantity surveying activities; engineering consultative and design activities; engineering related scientific and technical consulting activities; and other engineering activities.
Industry
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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: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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News
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Registered No.(ITA): 03854270653
1 -Profit & Loss Item Exchange Rate: USD 1 = EUR
0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
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Corporate Family
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Salerno, Salerno |
Italy |
Holding Companies |
0.0 |
1 |
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Subsidiary |
Salerno, Salerno |
Italy |
Photographic Services |
38.4 |
190 |
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Subsidiary |
Salerno, Salerno |
Italy |
Electrical Equipment and Appliances Manufacturing |
16.3 |
20 |
Executives Report
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Magaldi Power Australia |
12-Jul-2013 |
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Fully enclosed conveyor belts at AIMEX |
17-Jun-2013 |
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Magaldi introducing fully enclosed conveyor belt at
AIMEX 2013 |
02-Jun-2013 |
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US Patent Issued to Magaldi Power on Feb. 12 for
"Dry Mechanical Conveyor Plant for Pyrites and Coal Dust" (Italian
Inventor) |
18-Feb-2013 |
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Financial data
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Annual Profit & Loss |
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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 (Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
43.0 |
46.3 |
50.3 |
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Net sales |
38.4 |
40.1 |
46.1 |
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Other operating income |
2.9 |
5.1 |
2.7 |
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Raw materials and consumables employed |
12.7 |
17.5 |
20.6 |
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Other expenses |
10.9 |
10.9 |
12.2 |
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Total payroll costs |
12.1 |
11.7 |
12.8 |
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Fixed asset depreciation and amortisation |
3.2 |
3.0 |
3.0 |
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Other operating costs |
0.3 |
3.3 |
3.5 |
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Net operating income |
3.8 |
-0.1 |
-1.8 |
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Total financial income |
-0.2 |
0.9 |
1.0 |
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Total expenses |
1.3 |
1.0 |
1.1 |
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Profit before tax |
2.4 |
-0.3 |
-1.9 |
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Extraordinary result |
0.6 |
0.3 |
0.3 |
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Profit after extraordinary items and before tax |
3.0 |
0.0 |
-1.6 |
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Total taxation |
1.5 |
0.5 |
0.4 |
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Net profit |
1.5 |
- |
- |
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Net loss |
- |
0.5 |
2.0 |
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Annual Balance Sheet |
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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 |
22.1 |
21.4 |
23.4 |
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Provision for risks |
2.0 |
1.9 |
2.2 |
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Provision for pensions |
2.5 |
2.5 |
2.5 |
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Mortgages and loans |
0.3 |
3.9 |
4.4 |
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Other long-term liabilities |
- |
1.7 |
2.0 |
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Trade creditors |
9.0 |
12.8 |
11.6 |
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Advances received |
57.1 |
48.3 |
34.2 |
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Bank loans and overdrafts |
14.4 |
24.7 |
19.9 |
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Other current liabilities |
12.3 |
8.8 |
17.7 |
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Accruals and deferred income |
3.6 |
3.9 |
4.6 |
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Total current liabilities |
96.5 |
98.5 |
88.0 |
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Total liabilities (including net worth) |
123.5 |
129.8 |
122.4 |
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Intangibles |
3.6 |
4.5 |
6.0 |
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Buildings |
13.0 |
13.8 |
14.9 |
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Total tangible fixed assets |
15.2 |
16.1 |
17.6 |
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Long-term investments |
0.3 |
0.3 |
0.3 |
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Total financial assets |
0.3 |
0.3 |
0.3 |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
19.2 |
20.9 |
23.9 |
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Work in progress |
62.0 |
50.3 |
33.5 |
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Finished goods |
- |
- |
0.1 |
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Net stocks and work in progress |
66.1 |
54.6 |
40.1 |
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Trade debtors |
6.7 |
17.9 |
16.1 |
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Other receivables |
30.0 |
34.1 |
38.5 |
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Cash and liquid assets |
0.4 |
1.1 |
2.4 |
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Accruals |
1.1 |
1.2 |
1.4 |
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Total current assets |
104.3 |
108.9 |
98.5 |
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Total assets |
123.5 |
129.8 |
122.4 |
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Annual Ratios |
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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 |
1.10 |
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Quick ratio |
0.40 |
0.60 |
0.70 |
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Current liabilities to net worth |
0.04% |
0.05% |
0.04% |
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Sales per employee |
0.16 |
0.17 |
0.19 |
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Profit per employee |
0.01 |
- |
-0.01 |
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Average wage per employee |
0.05 |
0.05 |
0.05 |
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Net worth |
22.1 |
21.4 |
23.4 |
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Number of employees |
169 |
177 |
170 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.78 |
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1 |
Rs.101.42 |
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Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
-- |
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.