MIRA
INFORM REPORT
|
Report Date : |
19.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
MILGRANDI SPA
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Registered Office : |
Via Parco 47, Biassono,
20853 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.07.1980 |
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Com. Reg. No.: |
05890860157 |
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Legal Form : |
Public
Subsidiary |
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Line of Business : |
wholesaler of ferrous
and non-ferrous metal ores |
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No. of Employees : |
51 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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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
Milgrandi SpA
Via Parco 47
Biassono, 20853
Italy
Tel: +39 0392 200931
Fax: +39 0392 200989
Branch Office
VIA Caravaggio, 2 / B, Desio,
20832, Monza e Brianza, Lombardy
Italy
Synthesis
Employees: 51
Company Type: Public
Subsidiary
Corporate Family: 4 Companies
Ultimate Parent: Comite
D'Entreprise Winoa
Incorporation
Date: 09-Jul-1980
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 48.3
Total Assets: 33.7
Business
Description
Milgrandi SpA is
primarily engaged in wholesale of ferrous and non-ferrous metal ores; wholesale
of ferrous and non-ferrous metals in primary forms; wholesale of ferrous and
non-ferrous semi-finished metal products not elsewhere classified; and
wholesale of gold and other precious metals.
Industry
Industry
Metals and Minerals Wholesale
ANZSIC 2006: 3322 - Metal and Mineral Wholesaling
ISIC Rev 4: 4662 - Wholesale of metals and metal
ores
NACE Rev 2: 4672 - Wholesale of metals and metal ores
NAICS 2012: 423520 - Coal and Other Mineral and Ore
Merchant Wholesalers
UK SIC 2007:
4672 - Wholesale of metals and metal ores
US SIC 1987:
5051 - Metals Service Centers and Offices
Key
Executives
|
Name |
Title |
|
Patrick Rene Joseph Arnaud |
President |
|
Paola Cereda |
Executive |
|
Daniela Cristina Guida |
Executive |
|
Emilio Mantovani |
Member of the board |
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 Parco 47
Biassono, 20853
Italy
Tel: +39 0392 200931
Fax: +39 0392 200989
Sales EUR(mil): 37.6
Assets EUR(mil): 25.5
Employees: 51
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous Capital Goods
Incorporation Date: 09-Jul-1980
Company Type: Public Subsidiary
Quoted Status: Not Quoted
Registered No.(ITA): 05890860157
President: Patrick Rene Joseph Arnaud
Industry Codes
ANZSIC 2006
Codes:
3322 - Metal
and Mineral Wholesaling
2090 - Other
Non-Metallic Mineral Product Manufacturing
ISIC Rev 4 Codes:
4662 - Wholesale
of metals and metal ores
2399 - Manufacture
of other non-metallic mineral products n.e.c.
NACE Rev 2 Codes:
4672 - Wholesale of metals and metal ores
2391 - Production of abrasive products
NAICS 2012 Codes:
423520 - Coal and Other Mineral and Ore
Merchant Wholesalers
327910 - Abrasive Product Manufacturing
US SIC 1987:
5051 - Metals Service Centers and Offices
3291 - Abrasive Products
UK SIC 2007:
4672 - Wholesale of metals and metal ores
2391 - Production of abrasive products
Business Description
Milgrandi SpA is primarily engaged in wholesale of
ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous metals
in primary forms; wholesale of ferrous and non-ferrous semi-finished metal
products not elsewhere classified; and wholesale of gold and other precious
metals.
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Corporate Family |
Corporate
Structure News: |
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|
Comite
D'Entreprise Winoa |
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Milgrandi SpA |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Le Cheylas, Isere |
France |
Associations and Organizations |
|
1 |
|
|
|
Subsidiary |
Kurgan |
Russian Federation |
Residential and Commercial Building Construction |
5.3 |
155 |
|
|
|
Subsidiary |
Denzlingen, Baden-WUrttemberg |
Germany |
Metal Products Manufacturing |
|
53 |
|
|
|
Subsidiary |
Biassono, Monza E Brianza |
Italy |
Metals and Minerals Wholesale |
48.3 |
51 |
|
Executive report
|
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 |
|
Consolidated |
No |
No |
No |
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|
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Total income |
47.3 |
59.8 |
57.3 |
|
Net sales |
48.3 |
60.3 |
55.9 |
|
Other operating income |
0.2 |
0.1 |
0.1 |
|
Raw materials and consumables employed |
36.0 |
42.4 |
39.6 |
|
Other expenses |
7.6 |
10.8 |
11.9 |
|
Total payroll costs |
4.0 |
5.2 |
5.9 |
|
Fixed asset depreciation and amortisation |
1.5 |
1.9 |
1.0 |
|
Other operating costs |
0.2 |
0.3 |
0.3 |
|
Net operating income |
-2.1 |
-0.7 |
-1.3 |
|
Total financial income |
0.5 |
0.4 |
0.2 |
|
Total expenses |
0.9 |
0.8 |
0.2 |
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Profit before tax |
-2.5 |
-1.2 |
-1.2 |
|
Extraordinary result |
0.4 |
-0.4 |
-0.6 |
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Profit after extraordinary items and before tax |
-2.1 |
-1.6 |
-1.8 |
|
Total taxation |
0.3 |
0.1 |
-0.1 |
|
Net loss |
2.3 |
1.7 |
1.8 |
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 |
7.4 |
9.6 |
11.5 |
|
Provision for risks |
1.1 |
0.9 |
1.1 |
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Provision for pensions |
1.0 |
1.4 |
1.7 |
|
Trade creditors |
1.4 |
5.0 |
7.4 |
|
Bank loans and overdrafts |
- |
0.7 |
0.6 |
|
Other current liabilities |
22.9 |
20.9 |
19.1 |
|
Accruals and deferred income |
0.0 |
0.0 |
0.0 |
|
Total current liabilities |
24.3 |
26.5 |
27.1 |
|
Total liabilities (including net worth) |
33.7 |
38.4 |
41.4 |
|
Intangibles |
0.0 |
0.2 |
0.3 |
|
Buildings |
0.2 |
0.2 |
0.3 |
|
Total tangible fixed assets |
0.7 |
2.7 |
3.3 |
|
Long-term investments |
0.0 |
0.1 |
0.1 |
|
Total financial assets |
0.0 |
0.2 |
0.2 |
|
Receivables due after 1 year |
0.1 |
- |
- |
|
Loans to associated companies |
- |
0.1 |
0.1 |
|
Total non-current assets |
0.9 |
3.1 |
3.8 |
|
Finished goods |
2.4 |
2.5 |
4.0 |
|
Net stocks and work in progress |
2.4 |
4.4 |
5.9 |
|
Trade debtors |
13.2 |
17.7 |
21.7 |
|
Other receivables |
16.6 |
11.5 |
9.1 |
|
Cash and liquid assets |
0.6 |
1.5 |
0.7 |
|
Marketable securities |
0.1 |
0.1 |
0.1 |
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Accruals |
0.1 |
0.1 |
0.0 |
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Total current assets |
32.9 |
35.3 |
37.5 |
|
Total assets |
33.7 |
38.4 |
41.4 |
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 |
1.30 |
1.40 |
|
Quick ratio |
1.20 |
1.20 |
1.20 |
|
Current liabilities to net worth |
0.03% |
0.03% |
0.02% |
|
Sales per employee |
0.74 |
0.68 |
0.92 |
|
Profit per employee |
-0.03 |
-0.02 |
-0.03 |
|
Average wage per employee |
0.06 |
0.06 |
0.10 |
|
Net worth |
7.4 |
9.6 |
11.5 |
|
Number of employees |
51 |
64 |
46 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.28 |
|
UK Pound |
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.83.80 |
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.