MIRA INFORM REPORT
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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
A.GI.A. SPA |
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Registered Office : |
Via Quari Destra 41/C, Cologna Veneta, 37044 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
16.09.2004 |
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Com. Reg. No.: |
03180490249 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacturer of Plastic Tableware, Kitchenware and Toilet
Articles. |
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No. of Employees : |
13 |
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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A.Gi.A. SpA |
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Business Description
A.Gi.A. SpA is primarily engaged in manufacture of plastic tableware,
kitchenware and toilet articles; and manufacture of diverse plastic products
(plastic headgear, insulating fittings, parts of lighting fittings, office or
school supplies, articles of apparel, fittings for furniture, statuettes,
transmission and conveyor belts, etc.).
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 Executive
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Name |
Title |
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Alessandro Benetti |
Sole administrator |
News
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Title |
Date |
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Poland-Krakow:
Furniture (incl. office furniture), furnishings, domestic appliances (excl.
lighting) and cleaning products |
25-Sep-2013 |
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collection,
transportation and disposal of household skyvallon |
24-Sep-2013 |
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Cyprus-Agia
Napa: Urban solid-refuse collection services |
23-Sep-2013 |
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HIGH SCHOOL
ROUNDUP: Norair leads Falcons to victory |
21-Sep-2013 |
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Provision
of Wastewater Surp and transmission projects in WWTP Almyrou |
21-Sep-2013 |
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Ocean
Basket wins Cyprus Green Key award |
20-Sep-2013 |
Registered No.(ITA): 03180490249
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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Bank: |
Banca Popolare di Marostica Ag, Unicredit
Ag |
Executives 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-2012 |
31-Dec-2011 |
31-Dec-2010 |
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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) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Total income |
6.8 |
9.0 |
10.1 |
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Net sales |
6.6 |
8.9 |
10.0 |
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Other operating income |
0.3 |
0.1 |
0.1 |
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Raw materials and consumables employed |
3.8 |
4.9 |
5.8 |
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Other expenses |
1.9 |
2.4 |
3.0 |
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Total payroll costs |
0.5 |
0.6 |
0.5 |
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Fixed asset depreciation and amortisation |
0.1 |
0.2 |
0.2 |
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Other operating costs |
0.1 |
0.3 |
0.1 |
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Net operating
income |
0.5 |
0.6 |
0.5 |
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Total financial
income |
0.0 |
- |
0.0 |
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Total expenses |
0.4 |
0.3 |
0.5 |
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Profit before tax |
0.1 |
0.3 |
0.0 |
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Extraordinary result |
0.0 |
0.0 |
- |
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Profit after extraordinary items and
before tax |
0.1 |
0.3 |
0.0 |
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Total taxation |
0.1 |
0.2 |
0.1 |
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Net profit |
0.0 |
0.2 |
- |
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Net loss |
- |
- |
0.1 |
Annual Balance Sheet
Financials
in: USD (mil)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
1.5 |
1.5 |
1.5 |
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Provision for risks |
0.1 |
0.1 |
0.1 |
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Provision for pensions |
0.2 |
0.1 |
0.1 |
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Mortgages and loans |
4.6 |
4.8 |
4.7 |
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Other long-term liabilities |
- |
- |
0.0 |
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Trade creditors |
2.6 |
2.7 |
3.5 |
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Bank loans and overdrafts |
2.6 |
3.0 |
4.4 |
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Other current liabilities |
1.0 |
0.7 |
0.3 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current
liabilities |
6.3 |
6.4 |
8.3 |
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Total
liabilities (including net worth) |
12.7 |
12.9 |
14.7 |
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Intangibles |
0.2 |
0.2 |
0.2 |
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Buildings |
- |
- |
5.2 |
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Total tangible
fixed assets |
6.7 |
6.3 |
6.4 |
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Long-term investments |
- |
- |
0.0 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Receivables due after 1 year |
0.2 |
0.3 |
0.4 |
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Total
non-current assets |
7.1 |
6.8 |
7.0 |
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Finished goods |
- |
- |
1.6 |
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Net stocks and work in progress |
1.0 |
1.2 |
1.6 |
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Trade debtors |
4.3 |
4.8 |
5.9 |
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Other receivables |
- |
0.0 |
0.0 |
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Cash and liquid assets |
0.1 |
0.1 |
0.1 |
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Marketable securities |
0.2 |
0.0 |
- |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current
assets |
5.6 |
6.1 |
7.7 |
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Total assets |
12.7 |
12.9 |
14.7 |
7
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.36 |
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1 |
Rs.101.20 |
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Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.