MIRA
INFORM REPORT
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Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
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Name : |
RACCORTUBI SPA |
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Registered Office : |
Via De Gasperi 194, Marcallo Con Casone, 20010 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.05.1949 |
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Com. Reg. No.: |
00747640159 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
·
wholesaler
of ferrous and non-ferrous metal ores wholesaler of ferrous and non-ferrous metals in primary
forms wholesaler of ferrous and non-ferrous semi-finished
metal products wholesaler of gold and other precious metals. |
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No. of Employees : |
48 |
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 : |
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
Raccortubi SpA
Via De Gasperi 194
Marcallo Con Casone, 20010
Italy
Tel:
+39 0297 63001
Fax: +39
0290 376337
Web: www.raccortubi.it
Synthesis
Employees:
48
Company Type:
Public Parent
Corporate Family: 2
Companies
Incorporation Date: 20-May-1949
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency:
Euro
Annual Sales:
57.0
Total Assets:
52.7
Business
Description
Raccortubi 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
Piergiorgio Pentericci President
Guido Finetti 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 De Gasperi
194
Marcallo Con Casone,
20010
Italy
Tel: +39 0297 63001
Fax: +39 0290 376337
Web: www.raccortubi.it
Sales EUR(mil): 41.0
Assets EUR(mil): 40.6
Employees: 48
Fiscal Year End: 31-Dec-2011
Industry: Miscellaneous Capital
Goods
Incorporation
Date: 20-May-1949
Company Type: Public Parent
Quoted Status: Not Quoted
Registered
No.(ITA): 00747640159
President: Piergiorgio Pentericci
Industry Codes
ANZSIC 2006
Codes:
3322 - Metal
and Mineral Wholesaling
2110 - Iron
Smelting and Steel Manufacturing
ISIC Rev 4 Codes:
4662 - Wholesale
of metals and metal ores
2410 - Manufacture
of basic iron and steel
NACE Rev 2 Codes:
4672 - Wholesale
of metals and metal ores
2410 - Manufacture
of basic iron and steel and of ferro-alloys
NAICS 2012 Codes:
423520 - Coal
and Other Mineral and Ore Merchant Wholesalers
331110 - Iron
and Steel Mills and Ferroalloy Manufacturing
US SIC 1987:
5051 - Metals
Service Centers and Offices
3312 - Steel
Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills
UK SIC 2007:
4672 - Wholesale
of metals and metal ores
2410 - Manufacture
of basic iron and steel and of ferro-alloys
Business Description
Raccortubi 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.
More Business Descriptions
Iron and Steel
Pipe and Tube Manufacturing from Purchased Steel
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Corporate Family |
Corporate
Structure News: |
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Raccortubi
SpA |
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Raccortubi SpA |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Raccortubi SpA |
Parent |
Marcallo Con Casone, Milano |
Italy |
Metals and Minerals Wholesale |
57.0 |
48 |
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Tecninox SRL |
Subsidiary |
Arluno, Milano |
Italy |
Metal Products Manufacturing |
15.9 |
41 |
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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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Executives |
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President |
President |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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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 |
58.1 |
49.9 |
80.8 |
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Net sales |
57.0 |
48.9 |
78.6 |
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Other operating income |
1.1 |
0.9 |
2.3 |
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Raw materials and consumables employed |
43.9 |
37.8 |
60.4 |
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Other expenses |
6.5 |
5.9 |
7.5 |
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Total payroll costs |
3.9 |
3.5 |
4.1 |
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Fixed asset depreciation and amortisation |
0.5 |
0.5 |
0.5 |
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Other operating costs |
0.4 |
0.2 |
0.2 |
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Net operating income |
2.8 |
2.0 |
8.2 |
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Total financial income |
0.1 |
0.1 |
0.1 |
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Total expenses |
0.3 |
0.3 |
0.3 |
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Profit before tax |
2.6 |
1.7 |
8.0 |
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Extraordinary result |
- |
-1.2 |
-1.4 |
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Profit after extraordinary items and before tax |
2.6 |
0.6 |
6.6 |
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Total taxation |
1.1 |
0.5 |
2.3 |
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Net profit |
1.5 |
0.1 |
4.3 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
31.1 |
30.7 |
34.5 |
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Provision for risks |
0.0 |
- |
2.9 |
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Provision for pensions |
1.0 |
1.1 |
1.4 |
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Mortgages and loans |
1.2 |
- |
- |
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Trade creditors |
8.3 |
14.1 |
13.9 |
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Bank loans and overdrafts |
3.8 |
6.6 |
9.5 |
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Other current liabilities |
7.3 |
6.3 |
6.3 |
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Accruals and deferred income |
0.0 |
0.0 |
0.1 |
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Total current liabilities |
19.5 |
27.0 |
29.7 |
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Total liabilities (including net worth) |
52.7 |
58.8 |
68.5 |
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Intangibles |
0.5 |
0.6 |
0.7 |
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Total tangible fixed assets |
0.6 |
0.7 |
1.0 |
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Long-term investments |
3.2 |
3.3 |
1.1 |
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Total financial assets |
3.2 |
3.3 |
1.2 |
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Receivables due after 1 year |
0.4 |
0.5 |
0.5 |
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Total non-current assets |
4.7 |
5.1 |
3.4 |
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Finished goods |
23.9 |
20.9 |
19.3 |
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Net stocks and work in progress |
23.9 |
20.9 |
19.5 |
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Trade debtors |
14.7 |
15.4 |
24.4 |
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Other receivables |
3.9 |
4.5 |
3.9 |
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Cash and liquid assets |
3.6 |
10.8 |
14.8 |
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Accruals |
1.9 |
2.1 |
2.6 |
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Total current assets |
48.0 |
53.7 |
65.1 |
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Total assets |
52.7 |
58.8 |
68.5 |
Annual Ratios
Financials in: USD (mil)
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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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
2.50 |
2.00 |
2.20 |
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Quick ratio |
1.20 |
1.20 |
1.50 |
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Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
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Sales per employee |
0.85 |
0.79 |
1.07 |
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Profit per employee |
0.04 |
0.01 |
0.09 |
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Average wage per employee |
0.06 |
0.06 |
0.06 |
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Net worth |
31.1 |
30.7 |
34.5 |
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Number of employees |
48 |
47 |
53 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.38 |
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UK Pound |
1 |
Rs.100.86 |
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Euro |
1 |
Rs.84.59 |
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.