MIRA
INFORM REPORT
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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
BOTTERO SPA
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Registered Office : |
Via Genova 82, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
19.09.1980 |
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Com. Reg. No.: |
00928730043 |
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Legal Form : |
Public
Subsidiary Company |
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Line of Business : |
·
manufacturer
of machinery for working soft rubber or plastics or for the manufacturer of
products of these materials (extruders, moulders, pneumatic tyre making or
retreading machines and other machines for making a specific rubber or
plastic product) manufacturer
of printing and bookbinding machines manufacturer
of machinery for producing tiles, bricks, shaped ceramic pastes, pipes,
graphite electrodes, blackboard chalk, foundry moulds, manufacturer
of moulding boxes for any material; mould bases; moulding patterns & moulds Manufacturer of dryers for wood, paper pulp, paper or
paperboard; manufacture of centrifugal clothes dryers; Manufacturer 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) manufacturer
of industrial robots for multiple uses |
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No. of Employees : |
750 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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
Bottero SpA
Via Genova 82
Cuneo, 12100
Italy
Tel: +39 0171 310611
Fax: +39 0171 401611
Web: www.bottero.com
Synthesis
Employees: 750
Company Type: Public
Subsidiary
Corporate Family: 5 Companies
Ultimate Parent: BOTTERO FINANZIARIA SPA
Incorporation
Date: 19-Sep-1980
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 187.9
Total Assets: 216.3
Business
Description
Bottero SpA 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, .; 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.); and manufacture of industrial
robots for multiple uses.
Industry
Industry
Machinery and Equipment Manufacturing
ANZSIC 2006: 2499 - Other Machinery and Equipment
Manufacturing Not Elsewhere Classified
ISIC Rev 4: 2829 - Manufacture of other
special-purpose machinery
NACE Rev 2: 2899 - Manufacture of other
special-purpose machinery n.e.c.
NAICS 2012: 333249 - Other Industrial Machinery
Manufacturing
UK SIC 2007: 2899 - Manufacture of other special-purpose
machinery n.e.c.
US SIC 1987: 3569 - General Industrial Machinery and
Equipment, Not Elsewhere Classified
Key
Executives
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Name |
Title |
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Leonardo Ghinamo |
President |
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Giovanni Sesia |
Vice president, Commercial manager |
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Mario Balbi |
Executive |
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Iose Olmo |
Member of the board, Head of accounting department |
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Miranda Tomatis |
Commercial manager |
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 Genova 82
Cuneo, 12100
Italy
Tel: +39
0171 310611
Fax: +39
0171 401611
Web: www.bottero.com
Sales EUR(mil): 146.2
Assets EUR(mil): 163.6
Employees: 750
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous
Capital Goods
Incorporation Date: 19-Sep-1980
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 00928730043
President: Leonardo
Ghinamo
Industry Codes
ANZSIC 2006 Codes:
2499 - Other
Machinery and Equipment Manufacturing Not Elsewhere Classified
2463 - Machine
Tool and Parts Manufacturing
261 - Electricity
Generation
ISIC Rev 4 Codes:
2829 - Manufacture
of other special-purpose machinery
3510 - Electric
power generation, transmission and distribution
2819 - Manufacture
of other general-purpose machinery
2822 - Manufacture
of metal-forming machinery and machine tools
NACE Rev 2 Codes:
2899 - Manufacture
of other special-purpose machinery n.e.c.
2829 - Manufacture
of other general-purpose machinery n.e.c.
3511 - Production
of electricity
2841 - Manufacture
of metal forming machinery
NAICS 2012 Codes:
333249 - Other
Industrial Machinery Manufacturing
33351 - Metalworking
Machinery Manufacturing
33399 - All
Other General Purpose Machinery Manufacturing
22111 - Electric
Power Generation
US SIC 1987:
3569 - General
Industrial Machinery and Equipment, Not Elsewhere Classified
3549 - Metalworking
Machinery, Not Elsewhere Classified
4911 - Electric
Services
UK SIC 2007:
2899 - Manufacture
of other special-purpose machinery n.e.c.
2829 - Manufacture
of other general-purpose machinery n.e.c.
3511 - Production
of electricity
2841 - Manufacture
of metal forming machinery
Business Description
Bottero SpA 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, .; 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.); and manufacture of industrial robots for multiple uses.
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Corporate
Family |
Corporate
Structure News: |
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Bottero SpA |
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Bottero SpA |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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BOTTERO FINANZIARIA SPA |
Parent |
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Subsidiary |
Cuneo, Cuneo |
Italy |
Machinery and Equipment Manufacturing |
187.9 |
750 |
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Subsidiary |
Rochdale |
United Kingdom |
Machinery and Equipment Manufacturing |
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25 |
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Subsidiary |
Grevenbroich, Nordrhein-Westfalen |
Germany |
Professional and Commercial Equipment Wholesale |
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17 |
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Subsidiary |
Montecchio Maggiore, Vicenza |
Italy |
Metal Products Manufacturing |
17.4 |
52 |
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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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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Member of the board, Head of accounting department |
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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Vice president, Commercial manager |
Senior Management (General) |
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Member of the board, Head of accounting department |
Accounting Executive |
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Commercial manager, Executive |
Commercial Executive |
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Commercial manager, Executive |
Commercial Executive |
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Commercial manager |
Commercial Executive |
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Executive |
Purchasing Executive |
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Executive |
Purchasing Executive |
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Executive |
Purchasing Executive |
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Executive |
Purchasing Executive |
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Executive |
Purchasing Executive |
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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 |
192.9 |
167.0 |
170.7 |
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Net sales |
183.3 |
168.9 |
184.9 |
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Other operating income |
1.9 |
0.9 |
1.0 |
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Raw materials and consumables employed |
81.8 |
70.5 |
62.0 |
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Other expenses |
53.4 |
46.7 |
52.7 |
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Total payroll costs |
54.0 |
48.4 |
51.4 |
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Fixed asset depreciation and amortisation |
3.7 |
3.3 |
3.5 |
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Other operating costs |
0.7 |
1.1 |
0.9 |
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Net operating income |
-0.7 |
-2.9 |
0.2 |
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Total financial income |
0.2 |
0.1 |
0.1 |
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Total expenses |
0.4 |
0.2 |
0.2 |
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Profit before tax |
-0.9 |
-3.0 |
0.1 |
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Extraordinary result |
1.0 |
2.0 |
2.2 |
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Profit after extraordinary items and before tax |
0.1 |
-1.0 |
2.2 |
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Total taxation |
1.4 |
1.2 |
2.5 |
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Net loss |
1.3 |
2.2 |
0.3 |
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 |
45.2 |
48.0 |
53.7 |
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Provision for risks |
12.3 |
13.7 |
17.5 |
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Provision for pensions |
13.0 |
13.4 |
14.8 |
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Mortgages and loans |
10.2 |
12.4 |
- |
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Other long-term liabilities |
0.3 |
0.4 |
0.7 |
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Trade creditors |
49.4 |
58.6 |
42.9 |
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Bank loans and overdrafts |
2.2 |
1.1 |
0.0 |
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Other current liabilities |
49.4 |
35.0 |
50.8 |
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Accruals and deferred income |
5.0 |
4.8 |
4.7 |
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Total current liabilities |
105.9 |
99.4 |
98.4 |
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Total liabilities (including net worth) |
186.9 |
187.4 |
185.1 |
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Intangibles |
1.3 |
1.4 |
1.4 |
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Buildings |
31.2 |
33.2 |
36.4 |
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Total tangible fixed assets |
41.9 |
45.0 |
42.3 |
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Long-term investments |
10.6 |
11.0 |
11.2 |
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Total financial assets |
10.6 |
11.1 |
11.2 |
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Receivables due after 1 year |
5.6 |
6.0 |
7.2 |
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Total non-current assets |
59.4 |
63.6 |
62.1 |
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Finished goods |
50.6 |
42.4 |
47.9 |
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Net stocks and work in progress |
55.0 |
47.1 |
53.5 |
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Trade debtors |
32.5 |
42.4 |
44.4 |
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Other receivables |
21.5 |
17.1 |
16.4 |
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Cash and liquid assets |
18.0 |
16.6 |
7.2 |
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Marketable securities |
- |
- |
0.7 |
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Accruals |
0.5 |
0.6 |
0.6 |
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Total current assets |
127.4 |
123.8 |
123.0 |
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Total assets |
186.9 |
187.4 |
185.1 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
|
|
|
|
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Current ratio |
1.20 |
1.20 |
1.30 |
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Quick ratio |
0.70 |
0.80 |
0.70 |
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Current liabilities to net worth |
0.02% |
0.02% |
0.02% |
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Sales per employee |
0.18 |
0.17 |
0.17 |
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Profit per employee |
- |
0.00 |
0.00 |
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Average wage per employee |
0.05 |
0.05 |
0.05 |
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Net worth |
45.2 |
48.0 |
53.7 |
|
Number of employees |
750 |
742 |
787 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.59 |
|
UK Pound |
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.