MIRA INFORM REPORT
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Report Date : |
02.04.2014 |
IDENTIFICATION DETAILS
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Name : |
SAVELLI SPA |
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Registered Office : |
Via Gian Battista Cacciamali 4, Brescia, 25125 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.07.1970 |
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Com. Reg. No.: |
00304000177 |
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Legal Form : |
Public Parent |
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Line of Business : |
Subject is engaged in manufacture of ossature in metal for
construction; manufacture of industrial ossature in metal (ossature for blast
furnaces, lifting and handling equipment.); and manufacture of prefabricated
buildings mainly of metal (site huts, modular exhibition elements.). |
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No of Employees : |
140 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 higher. 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 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
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Source
: CIA |
COMPANY
DETAILS
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Savelli SpA |
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Business
Description
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Savelli SpA is primarily engaged in manufacture of ossature in metal for
construction; manufacture of industrial ossature in metal (ossature for blast
furnaces, lifting and handling equipment, etc.); and manufacture of
prefabricated buildings mainly of metal (site huts, modular exhibition
elements, etc.).
Industry
Key
Executives
|
Name |
Title |
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Luigi Savelli |
President |
|
Fulvio D'Amico |
Member of the board |
News
|
Title |
Date |
|
Newly
Delivered Aircraft, Product Launches, and Price Movements - Analyst Notes on
GE, Cummins, Roper, Rockwell, and Colfax |
11-Mar-2014 |
|
Our
Lady of Peace gets into Olympic spirit |
5-Mar-2014 |
|
The
impact of private equity on a life insurer's capital charges under Solvency
II and the Swiss Solvency Test |
1-Mar-2014 |
|
Meeting
Professionals International Introduces Meetings OutlookTM |
11-Feb-2014 |
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Meeting
Professionals International Introduces Meetings Outlook |
11-Feb-2014 |
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Internet
Startup, AskForTask.com, Taking Over Canadian Market. |
18-Jan-2014 |
Registered
No.(ITA):
00304000177
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
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ANZSIC 2006 Codes: |
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2499 |
- |
Other Machinery and Equipment Manufacturing Not Elsewhere Classified |
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2462 |
- |
Mining and Construction Machinery Manufacturing |
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2463 |
- |
Machine Tool and Parts Manufacturing |
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ISIC Rev 4 Codes: |
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2811 |
- |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
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2816 |
- |
Manufacture of lifting and handling equipment |
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2822 |
- |
Manufacture of metal-forming machinery and machine tools |
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2823 |
- |
Manufacture of machinery for metallurgy |
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NACE Rev 2 Codes: |
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2811 |
- |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
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2822 |
- |
Manufacture of lifting and handling equipment |
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2849 |
- |
Manufacture of other machine tools |
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2891 |
- |
Manufacture of machinery for metallurgy |
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NAICS 2012 Codes: |
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33361 |
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Engine, Turbine, and Power Transmission Equipment Manufacturing |
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333519 |
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Rolling Mill and Other Metalworking Machinery Manufacturing |
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33351 |
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Metalworking Machinery Manufacturing |
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33392 |
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Material Handling Equipment Manufacturing |
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US SIC 1987: |
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3441 |
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Fabricated Structural Metal |
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3549 |
- |
Metalworking Machinery, Not Elsewhere Classified |
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353 |
- |
Construction, Mining, and Materials Handling |
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3547 |
- |
Rolling Mill Machinery and Equipment |
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UK SIC 2007: |
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2811 |
- |
Manufacture of engines and turbines, except aircraft, vehicle and
cycle engines |
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2822 |
- |
Manufacture of lifting and handling equipment |
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2849 |
- |
Manufacture of other machine tools |
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2891 |
- |
Manufacture of machinery for metallurgy |
Savelli SpA is primarily engaged in manufacture of ossature in metal for
construction; manufacture of industrial ossature in metal (ossature for blast
furnaces, lifting and handling equipment, etc.); and manufacture of
prefabricated buildings mainly of metal (site huts, modular exhibition
elements, etc.).
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Company |
Percentage Owned |
Country |
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Savelli Impianti SRL |
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Bank: |
Banca Nazionale del Lavoro Ag |
Corporate Family
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Corporate Structure News: |
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Savelli SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Brescia, Brescia |
Italy |
Machinery and Equipment Manufacturing |
55.1 |
140 |
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Savelli
Do Brasil Equipamentos e Tecnologia Para Fundiçơes Ltda |
Subsidiary |
Belo Horizonte, Minas Gerais |
Brazil |
Machinery and Equipment Manufacturing |
10 |
Executives
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 |
News
Annual Profit & Loss
|
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 |
55.9 |
86.6 |
30.9 |
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Net sales |
55.1 |
86.9 |
31.6 |
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Other operating income |
0.2 |
0.2 |
0.3 |
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Raw materials and consumables employed |
21.4 |
48.8 |
10.5 |
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Other expenses |
20.4 |
18.8 |
8.9 |
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Total payroll costs |
10.0 |
10.3 |
8.1 |
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Fixed asset depreciation and amortisation |
1.7 |
1.9 |
1.7 |
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Other operating costs |
1.7 |
1.2 |
0.5 |
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Net operating
income |
0.7 |
5.6 |
1.1 |
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Total financial
income |
-0.3 |
0.1 |
0.0 |
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Total expenses |
1.6 |
1.6 |
1.4 |
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Profit before tax |
-1.2 |
4.1 |
-0.3 |
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Extraordinary result |
0.3 |
0.0 |
0.0 |
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Profit after extraordinary items and
before tax |
-0.9 |
4.0 |
-0.3 |
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Total taxation |
0.0 |
1.0 |
0.1 |
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Net profit |
- |
3.1 |
- |
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Net loss |
1.0 |
- |
0.4 |
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 |
3.9 |
4.8 |
2.0 |
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Provision for risks |
3.1 |
3.1 |
3.8 |
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Provision for pensions |
1.4 |
1.6 |
1.6 |
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Mortgages and loans |
14.4 |
15.8 |
7.0 |
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Other long-term liabilities |
2.6 |
1.4 |
1.8 |
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Trade creditors |
13.0 |
23.9 |
20.5 |
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Advances received |
0.5 |
9.0 |
10.9 |
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Bank loans and overdrafts |
16.3 |
12.0 |
11.5 |
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Other current liabilities |
8.3 |
7.5 |
7.9 |
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Accruals and deferred income |
0.2 |
0.3 |
0.1 |
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Total current
liabilities |
38.3 |
52.8 |
50.9 |
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Total
liabilities (including net worth) |
63.8 |
79.4 |
67.2 |
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Intangibles |
4.2 |
5.1 |
3.6 |
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Buildings |
17.5 |
17.7 |
17.9 |
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Total tangible fixed
assets |
17.7 |
18.0 |
18.3 |
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Long-term investments |
0.9 |
0.9 |
0.9 |
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Total financial
assets |
2.0 |
2.0 |
2.0 |
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Receivables due after 1 year |
0.2 |
0.0 |
0.0 |
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Loans to associated companies |
0.6 |
0.6 |
0.7 |
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Total
non-current assets |
24.1 |
25.0 |
23.9 |
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Work in progress |
10.0 |
14.5 |
8.0 |
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Finished goods |
1.8 |
1.3 |
2.1 |
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Net stocks and work in progress |
13.9 |
18.0 |
12.8 |
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Trade debtors |
15.6 |
23.8 |
26.8 |
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Other receivables |
9.9 |
11.6 |
3.5 |
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Cash and liquid assets |
0.2 |
1.0 |
0.1 |
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Accruals |
0.0 |
0.1 |
0.1 |
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Total current
assets |
39.7 |
54.4 |
43.2 |
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Total assets |
63.8 |
79.4 |
67.2 |
Annual Ratios
Financials in: USD (mil)
|
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 |
1.00 |
1.00 |
0.80 |
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Quick ratio |
0.70 |
0.70 |
0.60 |
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Current liabilities to net worth |
0.10% |
0.11% |
0.25% |
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Sales per employee |
0.31 |
0.45 |
0.20 |
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Profit per employee |
-0.01 |
0.02 |
0.00 |
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Average wage per employee |
0.06 |
0.05 |
0.05 |
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Net worth |
3.9 |
4.8 |
2.0 |
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Number of employees |
140 |
138 |
122 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.09 |
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|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 82.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
-- |
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.