MIRA INFORM REPORT
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Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
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Name : |
MED INT SRL |
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Registered Office : |
Viale Dei Caduti Per La Resistenza 183 , Roma, 00128 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
31.10.2002 |
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Com. Reg. No.: |
07257481007 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
· Wholesaler of frozen, deep-frozen & conserved dried fished products · wholesaler of other food including fish, crustaceans and molluscs. · wholesaler of potato products · wholesaler of feed for pet animals. |
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No. of Employees : |
04 (31.12.2012) |
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 – 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 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
Med Int SRL
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Business Description
Med Int SRL is primarily engaged in wholesale of other food including
fish, crustaceans and molluscs. Wholesale of frozen, deep-frozen & conserved
dried fished products. This class also includes: wholesale of potato products; and wholesale of
feed for pet animals.
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
4638 -
Wholesale of other food, including fish, crustaceans and molluscs |
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NAICS 2012: |
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UK SIC 2007: |
4638 -
Wholesale of other food, including fish, crustaceans and molluscs |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Mario Faricelli |
Sole administrator |
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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Executive report
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Executives |
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Sole administrator |
Owner/Proprietor |
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Annual
Profit & Loss
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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 |
12.4 |
10.7 |
8.7 |
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Net sales |
12.4 |
10.6 |
8.7 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
9.7 |
8.0 |
6.2 |
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Other expenses |
1.6 |
1.5 |
1.3 |
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Total payroll costs |
0.4 |
0.4 |
0.3 |
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Fixed asset depreciation and amortisation |
0.1 |
0.2 |
0.2 |
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Other operating costs |
0.2 |
0.1 |
0.2 |
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Net operating income |
0.4 |
0.6 |
0.6 |
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Total financial income |
0.0 |
-0.1 |
-0.3 |
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Total expenses |
0.1 |
0.1 |
0.0 |
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Profit before tax |
0.3 |
0.4 |
0.3 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Profit after extraordinary items and before tax |
0.3 |
0.4 |
0.3 |
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Total taxation |
0.1 |
0.2 |
0.1 |
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Net profit |
0.2 |
0.2 |
0.1 |
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 |
0.7 |
0.5 |
0.3 |
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Provision for pensions |
0.1 |
0.1 |
0.1 |
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Mortgages and loans |
0.0 |
0.1 |
- |
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Other long-term liabilities |
0.9 |
0.8 |
0.8 |
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Trade creditors |
2.3 |
1.6 |
1.3 |
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Bank loans and overdrafts |
2.6 |
1.9 |
1.3 |
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Other current liabilities |
0.1 |
0.1 |
0.6 |
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Accruals and deferred income |
0.0 |
0.0 |
0.1 |
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Total current liabilities |
5.1 |
3.6 |
3.3 |
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Total liabilities (including net worth) |
6.8 |
5.1 |
4.5 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.0 |
0.0 |
0.1 |
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Total financial assets |
0.0 |
0.0 |
- |
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Receivables due after 1 year |
0.1 |
0.1 |
0.2 |
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Total non-current assets |
0.1 |
0.2 |
0.3 |
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Net stocks and work in progress |
2.0 |
1.7 |
1.3 |
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Trade debtors |
4.2 |
3.1 |
2.5 |
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Other receivables |
0.1 |
0.1 |
0.2 |
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Cash and liquid assets |
0.4 |
0.0 |
0.2 |
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Marketable securities |
0.0 |
0.0 |
0.0 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current assets |
6.7 |
4.9 |
4.2 |
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Total assets |
6.8 |
5.1 |
4.5 |
Annual Ratios
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 |
1.30 |
1.40 |
1.20 |
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Quick ratio |
0.90 |
0.90 |
0.90 |
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Current liabilities to net worth |
0.07% |
0.07% |
0.12% |
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Sales per employee |
2.41 |
- |
- |
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Profit per employee |
0.06 |
- |
- |
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Average wage per employee |
0.07 |
- |
- |
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Net worth |
0.7 |
0.5 |
0.3 |
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Number of employees |
4 |
- |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.12 |
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UK Pound |
1 |
Rs.103.93 |
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Euro |
1 |
Rs.85.17 |
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%)