MIRA INFORM REPORT
|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOGLIO S.P.A. |
|
|
|
|
Registered Office : |
Via
dell'Industria 7, Daverio, I-21020 |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.05.1911 |
|
|
|
|
Com. Reg. No.: |
00870210150 |
|
|
|
|
Legal Form : |
Public Parent
Company |
|
|
|
|
Line of Business : |
·
manufacturer
of printing and writing paper ready for use ·
manufacturer
of computer print-out paper ·
manufacturer
of self-copy paper ready for use ·
manufacturer
of duplicator stencils and carbon paper ready for use manufacturer of gummed or adhesive paper ready for use ·
manufacturer
of envelopes and letter-cards ·
manufacturer
of boxes, pouches, wallets and writing compendiums containing an assortment
of paper stationery ·
Manufacturer
of consumer product packaging ·
manufacturer
of laminated plastics plate, sheet (except packaging) and shape |
|
|
|
|
No. of Employees |
779 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
Goglio S.p.A.
Via
dell'Industria 7
Daverio, I-21020
Italy
Tel: 39-0332940111
Fax: +39 02 48043330
Web: www.goglio.it
synthesis
Employees: 779
Company Type: Public
Parent Company
Corporate Family: 6 Companies
Incorporation
Date: 12-May-1911
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 186.6
Total Assets: 314.5
Business Description
Goglio SpA is
primarily engaged in manufacture of printing and writing paper ready for use;
manufacture of computer print-out paper; manufacture of self-copy paper ready
for use; manufacture of duplicator stencils and carbon paper ready for use;
manufacture of gummed or adhesive paper ready for use; manufacture of envelopes
and letter-cards; and manufacture of boxes, pouches, wallets and writing
compendiums containing an assortment of paper stationery.
Industry
Industry
Rubber and Plastic Product Manufacturing
ANZSIC 2006: 1522 - Paper Bag Manufacturing
ISIC Rev 4: 2220 - Manufacture of plastics products
NACE Rev 2: 2222 - Manufacture of plastic packing
goods
NAICS 2012: 326111 - Plastics Bag and Pouch
Manufacturing
UK SIC 2007: 2222 - Manufacture of plastic packing goods
US SIC 1987: 2673 - Plastics, Foil, and Coated Paper
Bags
Key
Executives
|
Name |
Title |
|
Giorgio Bottini |
President |
|
Franco Goglio |
President |
|
Fabrizio Goglio |
Vice president |
|
Osvaldo Bosetti |
Purchasing Manager |
|
Marco Giovannini |
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
dell'Industria 7
Daverio, I-21020
Italy
Tel: 39-0332940111
Fax: +39 02 48043330
Web: www.goglio.it
Sales EUR(mil): 145.2
Assets EUR(mil): 237.9
Employees: 779
Fiscal Year End: 31-Dec-2012
Industry: Containers and Packaging
Incorporation
Date: 12-May-1911
Company Type: Public Parent
Quoted Status: Not Quoted
Registered
No.(ITA): 00870210150
President: Giorgio Bottini
Industry Codes
ANZSIC 2006
Codes:
1522 - Paper
Bag Manufacturing
1521 - Corrugated
Paperboard and Paperboard Container Manufacturing
ISIC Rev 4 Codes:
2220 - Manufacture
of plastics products
1701 - Manufacture
of pulp, paper and paperboard
1702 - Manufacture
of corrugated paper and paperboard and of containers of paper and paperboard
NACE Rev 2 Codes:
2222 - Manufacture
of plastic packing goods
1712 - Manufacture of paper and paperboard
1721 - Manufacture
of corrugated paper and paperboard and of containers of paper and paperboard
NAICS 2012 Codes:
326111 - Plastics
Bag and Pouch Manufacturing
322220 - Paper
Bag and Coated and Treated Paper Manufacturing
322219 - Other
Paperboard Container Manufacturing
322212 - Folding
Paperboard Box Manufacturing
US SIC 1987:
2673 - Plastics,
Foil, and Coated Paper Bags
2652 - Setup
Paperboard Boxes
2657 - Folding
Paperboard Boxes, Including Sanitary
2672 - Coated
and Laminated Paper, Not Elsewhere Classified
2671 - Packaging Paper and Plastics Film,
Coated and Laminated
UK SIC 2007:
2222 - Manufacture of plastic packing goods
1721 - Manufacture of corrugated paper and
paperboard and of containers of paper and paperboard
1712 - Manufacture of paper and paperboard
Business Description
Consumer Product Packaging Mfr
More Business Descriptions
Goglio SpA is
primarily engaged in manufacture of printing and writing paper ready for use;
manufacture of computer print-out paper; manufacture of self-copy paper ready
for use; manufacture of duplicator stencils and carbon paper ready for use;
manufacture of gummed or adhesive paper ready for use; manufacture of envelopes
and letter-cards; and manufacture of boxes, pouches, wallets and writing
compendiums containing an assortment of paper stationery.
Laminated
Plastics Plate, Sheet (except Packaging) and Shape Manufacturing
|
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
Corporate Family |
Corporate Structure News: |
|
Goglio
S.p.A. |
|
|
Goglio S.p.A. |
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Daverio |
Italy |
Rubber and Plastic Product Manufacturing |
186.6 |
779 |
|
|
|
Subsidiary |
Cadorago, Como |
Italy |
Rubber and Plastic Product Manufacturing |
55.3 |
116 |
|
|
|
Subsidiary |
Sant Joan Despi, Barcelona |
Spain |
Miscellaneous Wholesale |
22.9 |
12 |
|
|
|
Subsidiary |
Zaandam, Noord-Holland |
Netherlands |
Machinery Wholesale |
5 |
|
||
|
Subsidiary |
Krakow |
Poland |
Miscellaneous Wholesale |
9.6 |
4 |
|
|
|
Subsidiary |
Zaandam, Noord-Holland |
Netherlands |
Rubber and Plastic Product Manufacturing |
|
Executive
report
|
Board of Directors |
|
|
|
|
|||
|
Member of the board |
Director/Board Member |
|
|||
|
Member of the board |
Director/Board Member |
|
|||
|
Member of the board |
Director/Board Member |
|
|||
|
Member of the board |
Director/Board Member |
|
|
Executives |
|
|
|
|
|||
|
President |
President |
|
|||
|
President |
President |
|
|||
|
Managing director |
Managing Director |
|
|||
|
Vice president |
Senior Management (General) |
||||
|
|
||||||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
|
||||||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
|
Purchasing Manager |
Purchasing Executive |
|
|||
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 |
|
|
|
|
|
|
Total income |
194.8 |
229.9 |
205.0 |
|
Net sales |
186.6 |
212.7 |
192.4 |
|
Other operating income |
8.2 |
8.3 |
8.0 |
|
Raw materials and consumables employed |
93.4 |
115.0 |
99.3 |
|
Other expenses |
40.5 |
44.7 |
41.0 |
|
Total payroll costs |
49.6 |
57.1 |
50.9 |
|
Fixed asset depreciation and amortisation |
8.8 |
10.7 |
11.0 |
|
Other operating costs |
1.5 |
1.3 |
1.3 |
|
Net operating income |
1.0 |
1.0 |
1.4 |
|
Total financial income |
9.3 |
12.7 |
7.7 |
|
Total expenses |
5.0 |
5.2 |
3.9 |
|
Profit before tax |
5.3 |
8.6 |
5.1 |
|
Extraordinary result |
-2.3 |
-8.6 |
-1.0 |
|
Profit after extraordinary items and before tax |
3.0 |
0.0 |
4.2 |
|
Total taxation |
-1.3 |
-1.5 |
1.4 |
|
Net profit |
4.3 |
1.5 |
2.7 |
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 |
|
|
|
|
|
|
Total stockholders equity |
93.9 |
89.5 |
93.1 |
|
Provision for risks |
17.1 |
17.1 |
15.5 |
|
Provision for pensions |
15.8 |
16.0 |
16.6 |
|
Mortgages and loans |
40.4 |
48.2 |
53.6 |
|
Other long-term liabilities |
0.4 |
0.6 |
1.1 |
|
Trade creditors |
34.6 |
35.3 |
36.4 |
|
Bank loans and overdrafts |
92.2 |
83.6 |
63.3 |
|
Other current liabilities |
18.8 |
22.1 |
25.7 |
|
Accruals and deferred income |
1.3 |
1.6 |
2.0 |
|
Total current liabilities |
147.0 |
142.7 |
127.3 |
|
Total liabilities (including net worth) |
314.5 |
314.2 |
307.3 |
|
Intangibles |
2.9 |
2.5 |
2.7 |
|
Buildings |
62.3 |
62.9 |
57.8 |
|
Total tangible fixed assets |
83.5 |
88.6 |
84.3 |
|
Long-term investments |
83.5 |
81.2 |
85.4 |
|
Total financial assets |
83.5 |
81.2 |
85.4 |
|
Receivables due after 1 year |
5.4 |
3.0 |
1.2 |
|
Total non-current assets |
175.4 |
175.3 |
173.6 |
|
Finished goods |
27.3 |
28.4 |
23.2 |
|
Net stocks and work in progress |
48.4 |
52.3 |
43.7 |
|
Trade debtors |
52.7 |
52.9 |
51.7 |
|
Other receivables |
36.3 |
32.1 |
35.4 |
|
Cash and liquid assets |
1.3 |
1.2 |
2.5 |
|
Accruals |
0.5 |
0.4 |
0.4 |
|
Total current assets |
139.1 |
138.9 |
133.7 |
|
Total assets |
314.5 |
314.2 |
307.3 |
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 |
1.00 |
1.00 |
1.00 |
|
Quick ratio |
0.60 |
0.60 |
0.70 |
|
Current liabilities to net worth |
0.02% |
0.02% |
0.01% |
|
Sales per employee |
0.19 |
0.19 |
0.19 |
|
Profit per employee |
0.00 |
- |
0.00 |
|
Average wage per employee |
0.05 |
0.05 |
0.05 |
|
Net worth |
93.9 |
89.5 |
93.1 |
|
Number of employees |
779 |
804 |
754 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.