MIRA
INFORM REPORT
|
Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DOLOMITE FRANCHI SPA |
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Registered Office : |
Via Corsica 14,
Brescia, 25125 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.01.1923 |
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Com. Reg. No.: |
00263730103 |
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Legal Form : |
Public
Subsidiary Company |
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Line of Business : |
Subject engaged
in mining and quarrying of various minerals and materials: abrasive
materials, asbestos, siliceous fossil meals, natural graphite, steatite
(talc), feldspar; gem stones, quartz, mica and natural asphalt and bitumen. |
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No. of Employees : |
200 |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 & address
Dolomite Franchi SpA
Via Corsica 14
Brescia, 25125
Italy
Tel: 39-0302-44-22-11
Fax: +39 030 2421232
Synthesis
Employees: 200
Company Type: Public
Subsidiary
Corporate Family: 68 Companies
Ultimate Parent: RHI
AG
Incorporation
Date: 06-Jan-1923
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 60.8
Total Assets: 49.4
Business
Description
Dolomite Franchi
SpA is primarily engaged in mining and quarrying of various minerals and
materials: abrasive materials, asbestos, siliceous fossil meals, natural
graphite, steatite (talc), feldspar; gem stones, quartz, mica and natural
asphalt and bitumen.
Industry
Industry
Non-Metallic Mineral Product Manufacturing
ANZSIC 2006: 2029 - Other Ceramic Product Manufacturing
ISIC Rev 4: 2391 - Manufacture of refractory
products
NACE Rev 2: 2320 - Manufacture of refractory products
NAICS 2012: 327120 - Clay Building Material and
Refractories Manufacturing
UK SIC 2007: 2320 - Manufacture of refractory products
US SIC 1987: 3255 - Clay Refractories
Key
Executives
|
Name |
Title |
|
Alberto Camossi |
President |
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Mario Cristini |
Executive |
|
Saverio Di Maio |
Executive |
|
Alessandro Romano |
Executive |
|
Claudio Mirko Sina |
Executive |
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7566
Corporate
Overview
Location
Via Corsica 14
Brescia, 25125
Italy
Tel: 39-0302-44-22-11
Fax: +39 030 2421232
Sales EUR(mil): 47.3
Assets EUR(mil): 37.4
Employees: 200
Fiscal Year End: 31-Dec-2012
Industry: Construction
- Raw Materials
Incorporation
Date: 06-Jan-1923
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered
No.(ITA): 00263730103
President: Alberto
Camossi
Industry Codes
ANZSIC 2006
Codes:
2029 - Other
Ceramic Product Manufacturing
ISIC Rev 4 Codes:
2391 - Manufacture
of refractory products
NACE Rev 2 Codes:
2320 - Manufacture
of refractory products
NAICS 2012 Codes:
327120 - Clay
Building Material and Refractories Manufacturing
US SIC 1987:
3255 - Clay
Refractories
UK SIC 2007:
2320 - Manufacture
of refractory products
Business Description
Production of
refractory materials including dolomite products for iron metallurgy
More Business Descriptions
Construction
Material Mining Services
Dolomite Franchi
SpA is primarily engaged in mining and quarrying of various minerals and
materials: abrasive materials, asbestos, siliceous fossil meals, natural
graphite, steatite (talc), feldspar; gem stones, quartz, mica and natural
asphalt and bitumen.
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Corporate Family |
Corporate
Structure News: |
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RHI
AG |
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Dolomite Franchi SpA |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Wien |
Austria |
Non-Metallic Mineral Product Manufacturing |
2,358.8 |
8,420 |
|
|
Subsidiary |
Wiesbaden, Hessen |
Germany |
Non-Metallic Mineral Product Manufacturing |
319.8 |
2,700 |
|
|
Subsidiary |
San Vito al Tagliamento, San Vito Al Tagliame |
Italy |
Machinery and Equipment Manufacturing |
35.9 |
155 |
|
|
Subsidiary |
Breuillet |
France |
Cement and Concrete Product Manufacturing |
0.3 |
120 |
|
|
Subsidiary |
MĂ¼lheim-Kärlich, Rheinland-Pfalz |
Germany |
Construction and Hardware Materials Wholesale |
18.6 |
55 |
|
|
Subsidiary |
Newark |
United Kingdom |
Specialty Construction Trade Contractors |
2.7 |
27 |
|
|
Subsidiary |
Wiesbaden, Hessen |
Germany |
Professional and Commercial Equipment Wholesale |
6.1 |
2 |
|
|
Subsidiary |
Aken (Elbe), Sachsen-Anhalt |
Germany |
Construction and Hardware Materials Wholesale |
0.0 |
2 |
|
|
Subsidiary |
Wien |
Austria |
Non-Metallic Mineral Product Manufacturing |
480.1 |
1,149 |
|
|
Subsidiary |
Wien, Wien |
Austria |
Home and Garden Retail |
10.7 |
5 |
|
|
Division |
Radenthein, Carinthia |
Austria |
Construction and Hardware Materials Wholesale |
|
400 |
|
|
Subsidiary |
Vienna |
Austria |
Construction Machinery Manufacturing |
|
400 |
|
|
Division |
Solon, OH |
United States |
Metal Products Manufacturing |
4.8 |
300 |
|
|
Subsidiary |
Sandton |
South Africa |
Architecture and Engineering |
|
280 |
|
|
Subsidiary |
Bamberg, Bayern |
Germany |
Specialty Construction Trade Contractors |
175.8 |
245 |
|
|
Subsidiary |
Werne, Nordrhein-Westfalen |
Germany |
Holding Companies |
|
3 |
|
|
FEUMAS
Feuerfeste Massen + chemisch-technische Produkte GmbH |
Subsidiary |
Saarwellingen, Saarland |
Germany |
Paint, Coating, and Adhesive Manufacturing |
|
11 |
|
Subsidiary |
DĂ¼ren, Nordrhein-Westfalen |
Germany |
Non-Metallic Mineral Product Manufacturing |
|
240 |
|
|
Subsidiary |
Falconer, NY |
United States |
Non-Metallic Mineral Product Manufacturing |
|
240 |
|
|
Subsidiary |
Clydebank |
United Kingdom |
Non-Metallic Mineral Product Manufacturing |
39.8 |
237 |
|
|
UK Branch/Trading address |
Clydebank |
United Kingdom |
Non-Metallic Mineral Product Manufacturing |
39.8 |
25 |
|
|
Subsidiary |
Falconer, NY |
United States |
Non-Metallic Mineral Product Manufacturing |
60.7 |
230 |
|
|
Subsidiary |
MĂ¼lheim-Kärlich, Rheinland-Pfalz |
Germany |
Non-Metallic Mineral Product Manufacturing |
114.4 |
210 |
|
|
Subsidiary |
Evergem |
Belgium |
Construction and Hardware Materials Wholesale |
7.6 |
8 |
|
|
Subsidiary |
Ramos Arizpe, Coahuila |
Mexico |
Non-Metallic Mineral Product Manufacturing |
|
200 |
|
|
Subsidiary |
Lugones |
Spain |
Architecture and Engineering |
17.3 |
150 |
|
|
Subsidiary |
Isithebe |
South Africa |
Architecture and Engineering |
|
130 |
|
|
Subsidiary |
Drogheda, Co Louth |
Ireland |
Basic Chemical Manufacturing |
|
110 |
|
|
Subsidiary |
Eskisehir |
Turkey |
Architecture and Engineering |
|
110 |
|
|
Subsidiary |
Tlalnepantla |
Mexico |
Non-Metallic Mineral Product Manufacturing |
|
100 |
|
|
Subsidiary |
Burlington, ON |
Canada |
Non-Metallic Mineral Product Manufacturing |
|
100 |
|
|
Subsidiary |
Kerpen, Nordrhein-Westfalen |
Germany |
Machinery and Equipment Manufacturing |
10.3 |
90 |
|
|
Subsidiary |
Gerbstedt, Sachsen-Anhalt |
Germany |
Specialty Construction Trade Contractors |
2.4 |
20 |
|
|
Subsidiary |
Hunenberg |
Switzerland |
Architecture and Engineering |
|
75 |
|
|
Subsidiary |
Porsgrunn |
Norway |
Miscellaneous Chemical Manufacturing |
|
60 |
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Subsidiary |
Thessaloniki |
Greece |
Construction and Hardware Materials Wholesale |
|
45 |
|
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Subsidiary |
Wiesbaden, Hessen |
Germany |
Non-Metallic Mineral Product Manufacturing |
152.8 |
42 |
|
|
Subsidiary |
Guadalajara, Jalisco |
Mexico |
Construction and Hardware Materials Wholesale |
|
40 |
|
|
Subsidiary |
Wiesbaden, Hessen |
Germany |
Construction and Hardware Materials Wholesale |
25.2 |
38 |
|
|
Subsidiary |
Breuillet |
France |
Non-Metallic Mineral Product Manufacturing |
5.0 |
34 |
|
|
Subsidiary |
Brescia |
Italy |
Architecture and Engineering |
14.9 |
27 |
|
|
Subsidiary |
Singapore |
Singapore |
Architecture and Engineering |
|
25 |
|
|
Subsidiary |
Wiesbaden, Hessen |
Germany |
Construction and Hardware Materials Wholesale |
64.9 |
22 |
|
|
Subsidiary |
Santiago |
Chile |
Architecture and Engineering |
|
22 |
|
|
Subsidiary |
Breuillet |
France |
Architecture and Engineering |
|
20 |
|
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Subsidiary |
Wanchai |
Hong Kong |
Non-Metallic Minerals Mining |
|
10 |
|
|
Subsidiary |
Basel |
Switzerland |
Construction and Hardware Materials Wholesale |
|
6 |
|
|
Subsidiary |
Sarnia, ON |
Canada |
Cement and Concrete Product Manufacturing |
2.1 |
5 |
|
|
Subsidiary |
Wilmington, DE |
United States |
Investment Services |
37.4 |
3 |
|
|
Subsidiary |
Stockholm |
Sweden |
Miscellaneous Wholesale |
10.7 |
3 |
|
|
Subsidiary |
Puerto Ordaz |
Venezuela |
Non-Metallic Minerals Mining |
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|
Subsidiary |
Hyderabad |
India |
Non-Metallic Mineral Product Manufacturing |
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|
|
|
Subsidiary |
Yingkou |
China |
Non-Metallic Mineral Product Manufacturing |
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|
|
|
Subsidiary |
Dnepropetrovsk |
Ukraine |
Construction and Hardware Materials Wholesale |
|
|
|
|
Subsidiary |
Arnhem |
Netherlands |
Construction and Hardware Materials Wholesale |
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|
|
|
Subsidiary |
Hellerup |
Denmark |
Investment Services |
|
|
|
|
Subsidiary |
Wiesbaden |
Germany |
Architecture and Engineering |
|
|
|
|
Subsidiary |
Winterthur |
Switzerland |
Machinery and Equipment Manufacturing |
|
|
|
|
Subsidiary |
Leoben |
Austria |
Non-Metallic Mineral Product Manufacturing |
|
|
|
|
Subsidiary |
Yingkou, Liaoning |
China |
Non-Metallic Mineral Product Manufacturing |
|
470 |
|
|
Subsidiary |
Brescia, BS |
Italy |
Non-Metallic Mineral Product Manufacturing |
60.8 |
200 |
|
|
Subsidiary |
Arnhem, Gelderland |
Netherlands |
Banking |
|
2 |
|
|
Subsidiary |
Newark |
United Kingdom |
Miscellaneous Professional Services |
|
2 |
|
|
Subsidiary |
Newark |
United Kingdom |
Miscellaneous Personal Services |
|
2 |
|
|
Subsidiary |
Vienna |
Austria |
Construction and Hardware Materials Wholesale |
|
|
|
|
Subsidiary |
Vienna |
Austria |
Construction and Hardware Materials Wholesale |
|
|
|
|
Subsidiary |
Johannesburg |
South Africa |
Specialty Construction Trade Contractors |
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|
|
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Subsidiary |
Dalian |
China |
Construction and Hardware Materials Wholesale |
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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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Annual
Profit & Loss
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Total income |
64.1 |
65.5 |
60.8 |
|
Net sales |
60.8 |
63.2 |
58.8 |
|
Other operating income |
2.9 |
1.9 |
1.7 |
|
Raw materials and consumables employed |
19.3 |
19.7 |
17.2 |
|
Other expenses |
17.2 |
17.8 |
17.2 |
|
Total payroll costs |
15.4 |
16.0 |
14.5 |
|
Fixed asset depreciation and amortisation |
1.9 |
1.7 |
1.5 |
|
Other operating costs |
0.9 |
0.8 |
1.0 |
|
Net operating income |
9.4 |
9.4 |
9.4 |
|
Total financial income |
0.0 |
0.5 |
0.2 |
|
Total expenses |
0.3 |
0.4 |
0.0 |
|
Profit before tax |
9.1 |
9.5 |
9.6 |
|
Extraordinary result |
-0.9 |
0.2 |
0.7 |
|
Profit after extraordinary items and before tax |
8.2 |
9.7 |
10.4 |
|
Total taxation |
3.3 |
3.6 |
3.7 |
|
Net profit |
4.9 |
6.1 |
6.7 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
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|
Total stockholders equity |
15.1 |
19.4 |
25.5 |
|
Provision for risks |
1.2 |
0.7 |
0.7 |
|
Provision for pensions |
3.8 |
3.7 |
3.9 |
|
Trade creditors |
6.6 |
7.8 |
7.0 |
|
Bank loans and overdrafts |
0.0 |
- |
- |
|
Other current liabilities |
22.5 |
11.6 |
15.0 |
|
Accruals and deferred income |
0.2 |
0.2 |
0.1 |
|
Total current liabilities |
29.3 |
19.6 |
22.1 |
|
Total liabilities (including net worth) |
49.4 |
43.4 |
52.2 |
|
Intangibles |
0.1 |
0.2 |
0.2 |
|
Buildings |
1.7 |
1.7 |
1.8 |
|
Total tangible fixed assets |
6.9 |
6.6 |
6.1 |
|
Long-term investments |
0.2 |
0.2 |
0.3 |
|
Total financial assets |
0.3 |
0.3 |
0.3 |
|
Receivables due after 1 year |
- |
- |
0.1 |
|
Total non-current assets |
7.3 |
7.0 |
6.8 |
|
Finished goods |
3.5 |
3.0 |
2.7 |
|
Net stocks and work in progress |
6.6 |
5.9 |
5.6 |
|
Trade debtors |
6.6 |
8.1 |
6.5 |
|
Other receivables |
25.8 |
21.1 |
32.0 |
|
Cash and liquid assets |
3.1 |
1.4 |
1.2 |
|
Accruals |
0.0 |
0.0 |
0.1 |
|
Total current assets |
42.1 |
36.4 |
45.4 |
|
Total assets |
49.4 |
43.4 |
52.2 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.40 |
1.90 |
2.10 |
|
Quick ratio |
1.20 |
1.60 |
1.80 |
|
Current liabilities to net worth |
0.02% |
0.01% |
0.01% |
|
Sales per employee |
0.24 |
0.23 |
0.23 |
|
Profit per employee |
0.03 |
0.04 |
0.04 |
|
Average wage per employee |
0.06 |
0.06 |
0.06 |
|
Net worth |
15.1 |
19.4 |
25.5 |
|
Number of employees |
200 |
199 |
193 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
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 |
|
-- |
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.