MIRA INFORM REPORT
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Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
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Name : |
SCHNELL SPA
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Registered Office : |
Via Borghetto
2, San Liberio, Montemaggiore Al Metauro, 61030 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.08.1962 |
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Com. Reg. No.: |
00112900410 |
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Legal Form : |
Public Parent
Company |
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Line of Business : |
·
manufacturer
of machine tools for working stone, wood and similar hard material; presses
for the manufacturer of particle board. ·
manufacturer
of soldering, brazing and welding tools; surface tempering and hot spraying machines
and apparatus. |
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No. of Employees : |
217 |
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 : |
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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.
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Source : CIA |
Company name & address
Schnell SpA
Via Borghetto 2
San Liberio
Montemaggiore Al
Metauro, 61030
Italy
Tel: +39 0721 878711
Fax: +39 0721 8787330
Synthesis
Employees: 217
Company Type: Public
Parent
Corporate Family: 3
Companies
Incorporation
Date: 02-Aug-1962
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2011
Reporting
Currency: Euro
Annual Sales: 65.5
Total Assets: 73.9
Business Description
Schnell SpA is
primarily engaged in manufacture of machine tools for working stone, wood and
similar hard material; presses for the manufacture of particle board and the
like; manufacture of soldering, brazing and welding tools; surface tempering
and hot spraying machines and apparatus; manufacture of tool holders and
self-opening dieheads; manufacture of work holders for machine tools;
manufacture of dividing heads and other special attachments for machine tools;
manufacture of parts and accessories for wood, cork, hard rubber and similar
hard materials working machine tools; and manufacture of parts and accessories
for welding equipment.
Industry
Industry Machinery and Equipment
Manufacturing
ANZSIC 2006: 2463 - Machine Tool and Parts Manufacturing
ISIC Rev 4: 2822 - Manufacture of metal-forming
machinery and machine tools
NACE Rev 2: 2849 - Manufacture of other machine tools
NAICS 2012: 33351 - Metalworking Machinery
Manufacturing
UK SIC 2007: 2849 - Manufacture of other machine tools
US SIC 1987: 3549 - Metalworking Machinery, Not
Elsewhere Classified
Key Executives
|
Name |
Title |
|
Alessandro Rupoli |
President |
|
Simone Rupoli |
Vice president |
|
Morena Morotti |
Executive |
|
Filippo Giovanelli |
Member of the board |
|
Mirko Guazzarotti |
Member of the board |
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 Borghetto 2
San Liberio
Montemaggiore Al
Metauro, 61030
Italy
Tel: +39
0721 878711
Fax: +39
0721 8787330
Sales EUR(mil): 47.1
Assets EUR(mil): 56.9
Employees: 217
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous Capital
Goods
Incorporation
Date: 02-Aug-1962
Company Type: Public Parent
Quoted Status: Not Quoted
Registered
No.(ITA): 00112900410
President: Alessandro
Rupoli
Industry Codes
ANZSIC 2006 Codes:
2463 - Machine
Tool and Parts Manufacturing
2462 - Mining
and Construction Machinery Manufacturing
3411 - Agricultural
and Construction Machinery Wholesaling
ISIC Rev 4 Codes:
2822 - Manufacture
of metal-forming machinery and machine tools
2824 - Manufacture
of machinery for mining, quarrying and construction
4659 - Wholesale
of other machinery and equipment
NACE Rev 2 Codes:
2849 - Manufacture
of other machine tools
4663 - Wholesale
of mining, construction and civil engineering machinery
2892 - Manufacture
of machinery for mining, quarrying and construction
NAICS 2012 Codes:
33351 - Metalworking
Machinery Manufacturing
3331 - Agriculture,
Construction, and Mining Machinery Manufacturing
423810 - Construction
and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers
US SIC 1987:
3549 - Metalworking
Machinery, Not Elsewhere Classified
5082 - Construction
and Mining (Except Petroleum) Machinery and Equipment
353 - Construction,
Mining, and Materials Handling
UK SIC 2007:
2849 - Manufacture
of other machine tools
4663 - Wholesale
of mining, construction and civil engineering machinery
2892 - Manufacture
of machinery for mining, quarrying and construction
Business Description
Schnell SpA is primarily
engaged in manufacture of machine tools for working stone, wood and similar
hard material; presses for the manufacture of particle board and the like;
manufacture of soldering, brazing and welding tools; surface tempering and hot
spraying machines and apparatus; manufacture of tool holders and self-opening
dieheads; manufacture of work holders for machine tools; manufacture of
dividing heads and other special attachments for machine tools; manufacture of
parts and accessories for wood, cork, hard rubber and similar hard materials
working machine tools; and manufacture of parts and accessories for welding
equipment.
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Corporate Family |
Corporate
Structure News: |
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Schnell
SpA |
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Schnell SpA |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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|
Schnell SpA |
Parent |
Montemaggiore Al Metauro, Pesaro E Urbino |
Italy |
Machinery and Equipment Manufacturing |
65.5 |
217 |
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|
Schnell Wire System SRL |
Subsidiary |
Montemaggiore Al Metauro, Pesaro E Urbino |
Italy |
Machinery and Equipment Manufacturing |
12.0 |
20 |
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|
Schnell Impianti SRL |
Subsidiary |
Monteprandone, Ascoli Piceno |
Italy |
Machinery and Equipment Manufacturing |
4.6 |
17 |
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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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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Executives |
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President |
President |
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Executive |
Other |
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Vice president |
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 |
71.5 |
70.3 |
60.1 |
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Net sales |
65.5 |
64.8 |
59.3 |
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Other operating income |
4.3 |
4.5 |
3.6 |
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Raw materials and consumables employed |
34.1 |
33.0 |
26.5 |
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Other expenses |
22.6 |
22.7 |
18.1 |
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Total payroll costs |
11.5 |
12.2 |
11.3 |
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Fixed asset depreciation and amortisation |
1.9 |
1.5 |
1.3 |
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Other operating costs |
1.5 |
0.6 |
1.7 |
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Net operating income |
-0.2 |
0.4 |
1.0 |
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Total financial income |
0.8 |
1.1 |
0.3 |
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Total expenses |
0.8 |
0.6 |
0.7 |
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Profit before tax |
-0.2 |
0.9 |
0.6 |
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Extraordinary result |
-0.2 |
0.0 |
0.3 |
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Profit after extraordinary items and before tax |
-0.4 |
0.9 |
0.9 |
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Total taxation |
0.2 |
0.4 |
0.5 |
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Net profit |
- |
0.5 |
0.3 |
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Net loss |
0.6 |
- |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
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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Total stockholders equity |
27.7 |
27.8 |
28.1 |
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Provision for risks |
1.3 |
1.2 |
1.1 |
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Provision for pensions |
3.5 |
3.3 |
3.3 |
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Mortgages and loans |
9.5 |
14.6 |
17.4 |
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Other long-term liabilities |
- |
0.0 |
0.1 |
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Trade creditors |
13.5 |
16.3 |
11.6 |
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Bank loans and overdrafts |
9.5 |
7.1 |
6.9 |
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Other current liabilities |
8.0 |
9.1 |
9.7 |
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Accruals and deferred income |
1.0 |
1.5 |
1.4 |
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Total current liabilities |
31.9 |
34.1 |
29.6 |
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Total liabilities (including net worth) |
73.9 |
81.1 |
79.5 |
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Intangibles |
5.9 |
5.5 |
1.8 |
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Buildings |
3.9 |
3.8 |
4.1 |
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Total tangible fixed assets |
5.4 |
5.6 |
6.2 |
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Long-term investments |
8.8 |
9.0 |
4.8 |
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Total financial assets |
9.0 |
9.0 |
4.8 |
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Receivables due after 1 year |
- |
- |
0.0 |
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Loans to associated companies |
0.3 |
- |
- |
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Total non-current assets |
20.3 |
20.1 |
12.9 |
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Finished goods |
10.0 |
10.3 |
10.8 |
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Net stocks and work in progress |
20.5 |
20.4 |
20.9 |
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Trade debtors |
15.5 |
16.8 |
19.4 |
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Other receivables |
10.9 |
11.5 |
12.2 |
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Cash and liquid assets |
4.8 |
10.4 |
12.7 |
|
Marketable securities |
0.5 |
0.5 |
- |
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Accruals |
1.3 |
1.4 |
1.5 |
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Total current assets |
53.6 |
60.9 |
66.6 |
|
Total assets |
73.9 |
81.1 |
79.5 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
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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|
|
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Current ratio |
1.70 |
1.80 |
2.30 |
|
Quick ratio |
1.00 |
1.20 |
1.50 |
|
Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
|
Sales per employee |
0.22 |
0.21 |
0.17 |
|
Profit per employee |
0.00 |
0.00 |
0.00 |
|
Average wage per employee |
0.04 |
0.04 |
0.03 |
|
Net worth |
27.7 |
27.8 |
28.1 |
|
Number of employees |
217 |
233 |
244 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.83.68 |
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.