MIRA INFORM REPORT
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Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
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Name : |
ROMACO S.R.L. |
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Registered Office : |
Via Marzabotto 5, Bologna, 40067 |
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Country : |
Italy |
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Financials (as on) : |
31.10.2012 |
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Date of Incorporation : |
10.08.1972 |
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Com. Reg. No.: |
01681340152 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is 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). |
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No. of Employees : |
112 |
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 |
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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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Romaco S.r.l. |
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Business Description
Romaco SRL 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.
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: |
2829 -
Manufacture of other general-purpose machinery n.e.c. |
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NAICS 2012: |
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UK SIC 2007: |
2829 -
Manufacture of other general-purpose machinery n.e.c. |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Paulo Jorge Gregorio Alexandre |
President |
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Lido Rapattoni |
Executive |
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Claudio Fracchioni |
Member of the board |
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Giuseppino Naldi |
Member of the board |
News
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Title |
Date |
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Bosspak VTC
100 Tablet and Capsule Counter |
16-Sep-2013 |
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Romaco at
PACK EXPO 2013 Flexible Packaging and Processing |
5-Aug-2013 |
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Romaco at
PACK EXPO 2013: Flexible packaging and processing |
31-Jul-2013 |
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Romaco at
FachPack 2013: Precise blistering, cartoning and counting |
31-Jul-2013 |
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Romaco at
FachPack 2013 |
30-Jul-2013 |
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Romaco at PACK
EXPO 2013 Flexible packaging and processing |
30-Jul-2013 |
Registered No.(ITA): 01681340152
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7744105
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7710325
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ANZSIC 2006 Codes: |
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2499 |
- |
Other Machinery and Equipment
Manufacturing Not Elsewhere Classified |
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6999 |
- |
Other Professional, Scientific and
Technical Services Not Elsewhere Classified |
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ISIC Rev 4 Codes: |
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2819 |
- |
Manufacture of other general-purpose
machinery |
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8299 |
- |
Other business support service activities
n.e.c. |
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NACE Rev 2 Codes: |
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2829 |
- |
Manufacture of other general-purpose
machinery n.e.c. |
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8299 |
- |
Other business support service activities
n.e.c. |
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NAICS 2012 Codes: |
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333993 |
- |
Packaging Machinery Manufacturing |
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561990 |
- |
All Other Support Services |
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US SIC 1987: |
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3565 |
- |
Packaging Machinery |
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7389 |
- |
Business Services, Not Elsewhere
Classified |
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UK SIC 2007: |
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2829 |
- |
Manufacture of other general-purpose
machinery n.e.c. |
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8299 |
- |
Other business support service activities
n.e.c. |
Printing, Packaging & Filling Services for the
Pharmaceutical Industry
More Business Descriptions
Romaco SRL 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.
Packaging and Labeling Services
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Corporate Structure News
Total Corporate Family Members:
11
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Frankfurt Am Main, Hessen |
Germany |
Consulting Services |
|
4 |
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Subsidiary |
Karlsruhe, Baden-WĂ¼rttemberg |
Germany |
Machinery and Equipment Manufacturing |
42.6 |
450 |
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Subsidiary |
Bologna, BO |
Italy |
Machinery and Equipment Manufacturing |
43.2 |
112 |
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Subsidiary |
Ciudad De Mexico, Distrito Federal |
Mexico |
Machinery Wholesale |
1.0 |
7 |
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Subsidiary |
Neuenburg Am Rhein, Baden-WĂ¼rttemberg |
Germany |
Machinery and Equipment Manufacturing |
0.2 |
80 |
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Subsidiary |
Neuenburg |
Germany |
Machinery and Equipment Manufacturing |
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40 |
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Affiliates |
Le Passage, d'Agen |
France |
Machinery and Equipment Manufacturing |
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Subsidiary |
Wiefelstede, Niedersachsen |
Germany |
Specialty Construction Trade Contractors |
195.9 |
250 |
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
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4 |
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Miscellaneous Professional Services |
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1 |
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Investment Services |
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Executives 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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Executives |
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President |
President |
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General Manager |
Division Head Executive |
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Executive |
Other |
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Annual Profit & Loss
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31-Oct-2012 |
31-Oct-2011 |
31-Aug-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) |
0.774411 |
0.71848 |
0.733854 |
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Consolidated |
No |
No |
No |
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Total income |
47.7 |
5.7 |
33.9 |
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Net sales |
43.2 |
4.2 |
34.4 |
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Other operating income |
1.1 |
0.1 |
0.8 |
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Raw materials and consumables employed |
23.9 |
2.7 |
13.5 |
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Other expenses |
12.7 |
1.8 |
9.4 |
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Total payroll costs |
9.7 |
1.7 |
8.5 |
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Fixed asset depreciation and amortisation |
2.5 |
0.4 |
0.3 |
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Other operating costs |
0.6 |
0.1 |
0.2 |
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Net operating
income |
-1.6 |
-0.9 |
2.0 |
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Total financial
income |
0.0 |
0.0 |
0.1 |
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Total expenses |
0.8 |
0.1 |
0.0 |
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Profit before tax |
-2.4 |
-1.1 |
2.0 |
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Extraordinary result |
0.4 |
0.0 |
0.0 |
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Profit after extraordinary items and
before tax |
-1.9 |
-1.0 |
2.0 |
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Total taxation |
0.5 |
0.0 |
0.9 |
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Net profit |
- |
- |
1.1 |
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Net loss |
2.4 |
1.0 |
- |
Annual Balance Sheet
Financials
in: USD (mil)
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|
31-Oct-2012 |
31-Oct-2011 |
31-Aug-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.771032 |
0.716949 |
0.786813 |
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Consolidated |
No |
No |
No |
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Total stockholders
equity |
8.0 |
11.2 |
8.1 |
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Provision for risks |
0.7 |
1.1 |
2.4 |
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Provision for pensions |
1.6 |
1.9 |
1.9 |
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Other long-term liabilities |
10.5 |
11.3 |
1.0 |
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Trade creditors |
12.3 |
10.4 |
9.9 |
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Other current liabilities |
14.0 |
13.6 |
9.0 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current
liabilities |
26.4 |
24.0 |
18.9 |
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Total
liabilities (including net worth) |
47.2 |
49.5 |
32.2 |
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Intangibles |
18.4 |
21.9 |
0.3 |
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Buildings |
3.8 |
4.1 |
3.7 |
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Total tangible fixed
assets |
4.3 |
4.7 |
4.4 |
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Long-term investments |
0.3 |
0.4 |
0.5 |
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Total financial
assets |
0.3 |
0.4 |
0.5 |
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Receivables due after 1 year |
0.1 |
0.1 |
0.1 |
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Total
non-current assets |
23.0 |
27.1 |
5.2 |
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Finished goods |
14.2 |
11.6 |
6.3 |
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Net stocks and work in progress |
15.1 |
12.3 |
6.8 |
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Trade debtors |
7.4 |
7.6 |
6.1 |
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Other receivables |
1.6 |
2.0 |
13.6 |
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Cash and liquid assets |
0.0 |
0.3 |
0.5 |
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Accruals |
0.0 |
0.2 |
0.0 |
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Total current
assets |
24.1 |
22.4 |
27.0 |
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Total assets |
47.2 |
49.5 |
32.2 |
Annual Ratios
Financials
in: USD (mil)
|
|
31-Oct-2012 |
31-Oct-2011 |
31-Aug-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.771032 |
0.716949 |
0.786813 |
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Consolidated |
No |
No |
No |
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Current ratio |
0.90 |
0.90 |
1.40 |
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Quick ratio |
0.30 |
0.40 |
1.10 |
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Current liabilities to net worth |
0.03% |
0.02% |
0.02% |
|
Sales per employee |
0.31 |
0.03 |
0.24 |
|
Profit per employee |
-0.01 |
-0.01 |
0.01 |
|
Average wage per employee |
0.07 |
0.01 |
0.06 |
|
Net worth |
8.0 |
11.2 |
8.1 |
|
Number of employees |
107 |
105 |
104 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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%)