MIRA INFORM REPORT
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Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
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Name : |
DEC IMPIANTI SPA |
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Registered Office : |
Via Trento 33 Passirana Di Rho |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
12.01.1988 |
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Legal Form : |
Public Independent |
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Line of Business : |
Manufacture of machinery for working soft rubber or
plastics. |
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No. of Employees : |
16 |
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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Dec Impianti SpA |
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Business Description
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Dec Impianti SpA is primarily engaged in manufacture of
machinery for working soft rubber or plastics or for the manufacture of products
of these materials (extruders, moulders, pneumatic tyre making or retreading
machines and other machines for making a specific rubber or plastic product);
manufacture of printing and bookbinding machines; manufacture of machinery
for producing tiles, bricks, shaped ceramic pastes, pipes, graphite
electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding
boxes for any material; mould bases; moulding patterns; moulds; manufacture
of dryers for wood, paper pulp, paper or paperboard; manufacture of
centrifugal clothes dryers; manufacture of diverse special machinery and
equipment (machines to assemble electric or electronic lamps, tubes (valves)
or bulbs; machines for production or hot-working of glass or glassware, glass
fibre or yarn; machinery or apparatus for isotopic separation; rope-making
machinery, etc.); and manufacture of industrial robots for multiple uses. |
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Industry
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Industry |
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ANZSIC 2006: |
2499
- Other Machinery and Equipment Manufacturing Not Elsewhere Classified |
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ISIC Rev 4: |
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NACE Rev 2: |
2899
- Manufacture of other special-purpose machinery n.e.c. |
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NAICS 2012: |
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UK SIC 2007: |
2899
- Manufacture of other special-purpose machinery n.e.c. |
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US SIC 1987: |
3569
- General Industrial Machinery and Equipment, Not Elsewhere Classified |
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Key Executives
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Registered No.(ITA): 09086550150
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR
0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
Executive report
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FINANCIAL DATA
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Annual Profit and Loss |
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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 (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Total income |
12.2 |
7.5 |
6.9 |
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Net sales |
12.0 |
7.4 |
6.5 |
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Other operating income |
0.0 |
0.1 |
0.3 |
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Raw materials and consumables employed |
9.0 |
4.7 |
3.6 |
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Other expenses |
1.7 |
1.4 |
1.9 |
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Total payroll costs |
1.1 |
1.0 |
1.0 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Other operating costs |
0.1 |
0.0 |
0.0 |
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Net operating income |
0.1 |
0.2 |
0.2 |
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Total financial income |
0.1 |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
0.2 |
0.2 |
0.2 |
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Extraordinary result |
0.1 |
0.0 |
- |
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Profit after extraordinary items and before tax |
0.3 |
0.2 |
0.2 |
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Total taxation |
0.1 |
0.1 |
0.2 |
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Net profit |
0.1 |
0.1 |
0.1 |
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Annual Balance Sheet |
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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 |
3.6 |
3.4 |
3.5 |
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Provision for risks |
0.0 |
0.0 |
0.0 |
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Provision for pensions |
0.2 |
0.2 |
0.1 |
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Trade creditors |
3.5 |
0.8 |
1.0 |
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Advances received |
9.8 |
2.6 |
7.2 |
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Other current liabilities |
0.9 |
0.9 |
0.4 |
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Accruals and deferred income |
- |
- |
0.0 |
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Total current liabilities |
14.2 |
4.4 |
8.6 |
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Total liabilities (including net worth) |
18.0 |
7.9 |
12.2 |
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Intangibles |
0.0 |
0.0 |
0.1 |
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Total tangible fixed assets |
1.0 |
1.0 |
1.0 |
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Total non-current assets |
1.0 |
1.1 |
1.1 |
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Net stocks and work in progress |
11.6 |
1.9 |
7.4 |
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Trade debtors |
0.9 |
1.5 |
2.2 |
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Other receivables |
0.8 |
0.1 |
0.2 |
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Cash and liquid assets |
3.5 |
3.4 |
1.3 |
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Accruals |
0.1 |
0.1 |
0.1 |
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Total current assets |
17.0 |
6.9 |
11.2 |
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Total assets |
18.0 |
7.9 |
12.2 |
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Annual Ratios |
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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 |
1.20 |
1.60 |
1.30 |
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Quick ratio |
0.40 |
1.20 |
0.40 |
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Current liabilities to net worth |
0.04% |
0.01% |
0.03% |
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Sales per employee |
0.62 |
0.41 |
0.41 |
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Profit per employee |
0.01 |
0.01 |
0.01 |
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Average wage per employee |
0.06 |
0.05 |
0.06 |
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Net worth |
3.6 |
3.4 |
3.5 |
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Number of employees |
15 |
13 |
12 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.79 |
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|
1 |
Rs.100.70 |
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Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.