MIRA INFORM REPORT
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Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
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Name : |
BIN SISTEMI SRL |
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Registered Office : |
Via Alessandro
Volta 16, Casella, Asolo, 31011 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.06.2000 |
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Com. Reg. No.: |
03553860267 |
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Legal Form : |
Private
Independent Company |
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Line of Business : |
·
manufacturer
of knifes and cutting blades for machines or for mechanical appliances ·
manufacturer
of hand tools such as pliers, screwdrivers |
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No. of Employees : |
18 |
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 : |
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
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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.
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Source : CIA |
Company name & address
Bin Sistemi SRL
Via Alessandro
Volta 16
Casella
Asolo, 31011
Italy
Tel: +39 0423 521099
Fax: +39 0423 951212
Synthesis
Employees: 18
Company Type: Private
Independent
Incorporation
Date: 15-Jun-2000
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 7.1
Total Assets: 7.8
Business Description
Bin Sistemi SRL
is primarily engaged in manufacture of knifes and cutting blades for machines
or for mechanical appliances; manufacture of hand tools such as pliers,
screwdrivers.; manufacture of saws and saw blades, including circular sawblades
and chainsaw blades; manufacture of interchangeable tools for hand tools,
whether or not power operated, or for machine tools (drills, punches, dies,
milling cutters); manufacture of blacksmiths’ tools: forges, anvils.; and
manufacture of vices, clamps.
Industry
Industry
Metal Products Manufacturing
ANZSIC 2006: 2299 - Other Fabricated Metal Product
Manufacturing Not Elsewhere Classified
ISIC Rev 4: 2593 - Manufacture of cutlery, hand
tools and general hardware
NACE Rev 2: 2573 - Manufacture of tools
NAICS 2012: 332216 - Saw Blade and Handtool
Manufacturing
UK SIC 2007: 2573 - Manufacture of tools
US SIC 1987: 3429 - Hardware, Not Elsewhere Classified
Key Executives
Name Title
Claudio Bin President
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 Alessandro
Volta 16
Casella
Asolo, 31011
Italy
Tel: +39 0423 521099
Fax: +39 0423 951212
Sales EUR(mil): 5.5
Assets EUR(mil): 5.9
Employees: 18
Fiscal Year End: 31-Dec-2012
Industry: Personal
and Household Products
Incorporation Date: 15-Jun-2000
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(ITA): 03553860267
President: Claudio
Bin
Industry Codes
ANZSIC 2006 Codes:
2299 - Other Fabricated Metal Product Manufacturing
Not Elsewhere Classified
ISIC Rev 4 Codes:
2593 - Manufacture of cutlery, hand tools and
general hardware
259 - Manufacture of other fabricated metal
products; metalworking service activities
NACE Rev 2 Codes:
2573 - Manufacture of tools
259 - Manufacture of other fabricated metal
products
NAICS 2012 Codes:
332216 - Saw Blade and Handtool Manufacturing
3329 - Other Fabricated Metal Product
Manufacturing
US SIC 1987:
3429 - Hardware, Not Elsewhere Classified
349 - Miscellaneous Fabricated Metal
Products
UK SIC 2007:
2573 - Manufacture
of tools
259 - Manufacture
of other fabricated metal products
Business Description
Bin Sistemi SRL
is primarily engaged in manufacture of knifes and cutting blades for machines or
for mechanical appliances; manufacture of hand tools such as pliers,
screwdrivers.; manufacture of saws and saw blades, including circular sawblades
and chainsaw blades; manufacture of interchangeable tools for hand tools,
whether or not power operated, or for machine tools (drills, punches, dies,
milling cutters); manufacture of blacksmiths’ tools: forges, anvils.; and
manufacture of vices, clamps.
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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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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 |
7.0 |
9.0 |
8.5 |
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Net sales |
7.1 |
8.9 |
7.7 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
3.5 |
4.6 |
4.5 |
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Other expenses |
1.4 |
1.6 |
1.4 |
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Total payroll costs |
0.9 |
0.9 |
0.8 |
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Fixed asset depreciation and amortisation |
0.3 |
0.4 |
0.3 |
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Other operating costs |
0.0 |
0.1 |
0.0 |
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Net operating income |
0.8 |
1.4 |
1.5 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
0.8 |
1.4 |
1.5 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Profit after extraordinary items and before tax |
0.8 |
1.4 |
1.5 |
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Total taxation |
0.3 |
0.5 |
0.4 |
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Net profit |
0.5 |
0.9 |
1.1 |
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 |
5.8 |
5.7 |
5.7 |
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Provision for pensions |
0.2 |
0.2 |
0.1 |
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Mortgages and loans |
- |
- |
0.0 |
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Other long-term liabilities |
0.0 |
0.0 |
- |
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Trade creditors |
- |
1.5 |
2.1 |
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Other current liabilities |
1.8 |
0.2 |
0.1 |
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Accruals and deferred income |
0.1 |
0.2 |
0.2 |
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Total current liabilities |
1.9 |
1.9 |
2.4 |
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Total liabilities (including net worth) |
7.8 |
7.8 |
8.2 |
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Intangibles |
0.0 |
0.1 |
0.1 |
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Total tangible fixed assets |
0.9 |
1.1 |
1.3 |
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Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
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Total non-current assets |
1.0 |
1.2 |
1.4 |
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Net stocks and work in progress |
2.0 |
2.2 |
2.2 |
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Trade debtors |
- |
3.7 |
3.7 |
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Other receivables |
3.6 |
0.1 |
0.2 |
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Cash and liquid assets |
1.2 |
0.7 |
0.8 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
6.8 |
6.6 |
6.9 |
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Total assets |
7.8 |
7.8 |
8.2 |
Annual Ratios
Financials in: USD
(mil)
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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 |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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Current ratio |
3.60 |
3.50 |
2.90 |
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Quick ratio |
2.60 |
2.30 |
2.00 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
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Sales per employee |
0.31 |
- |
0.42 |
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Profit per employee |
0.03 |
- |
- |
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Average wage per employee |
0.04 |
- |
0.04 |
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Net worth |
5.8 |
5.7 |
5.7 |
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Number of employees |
18 |
- |
- |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.69 |
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UK Pound |
1 |
Rs.98.59 |
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Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.