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MIRA
INFORM REPORT
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Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
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Name : |
EUROCOLOR SPA |
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Registered Office : |
Via Emilia
Ponente 593, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.10.2009 |
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Com. Reg. No.: |
02351720392 |
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Legal Form : |
Public
Independent Company |
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Line of Business : |
·
wholesaler
of industrial chemicals (aniline, printing ink, essential oils, industrial
gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin,
scents and flavourings, soda, industrial salt, acids and sulphur, starch
derivatives) wholesaler of fertilisers and agro-chemical products wholesaler of plastic materials in primary forms wholesaler of rubber |
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No. of Employees : |
30 |
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
Eurocolor SpA
Via Emilia
Ponente 593
Castel Bolognese,
48014
Italy
Tel: +39 0546 650011
Fax: +39 0546 656305
Synthesis
Employees: 30
Company Type: Public
Independent
Incorporation
Date: 07-Oct-2009
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 19.2
Total Assets: 16.2
Business
Description
Eurocolor SpA is
primarily engaged in wholesale of industrial chemicals (aniline, printing ink,
essential oils, industrial gases, chemical glues, colouring matter, synthetic
resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids
and sulphur, starch derivatives); wholesale of fertilisers and agro-chemical
products; wholesale of plastic materials in primary forms; and wholesale of
rubber.
Industry
Industry
Chemical Wholesale
ANZSIC 2006:
3323 - Industrial and Agricultural Chemical Product Wholesaling
ISIC Rev 4:
4669 - Wholesale of waste and scrap and other products n.e.c.
NACE Rev 2:
4675 - Wholesale of chemical products
NAICS 2012:
4246 - Chemical and Allied Products Merchant Wholesalers
UK SIC 2007:
4675 - Wholesale of chemical products
US SIC 1987:
5169 - Chemicals and Allied Products, Not Elsewhere Classified
Key
Executives
Name Title
Giulio Chidichimo President
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 Emilia Ponente
593
Castel Bolognese,
48014
Italy
Tel: +39 0546 650011
Fax: +39 0546 656305
Sales EUR(mil): 15.0
Assets EUR(mil): 12.2
Employees: 30
Fiscal Year End: 31-Dec-2012
Industry: Chemical Manufacturing
Incorporation
Date: 07-Oct-2009
Company Type: Public Independent
Quoted Status: Not Quoted
Registered
No.(ITA): 02351720392
President: Giulio Chidichimo
Industry Codes
ANZSIC 2006
Codes:
3323 - Industrial
and Agricultural Chemical Product Wholesaling
ISIC Rev 4 Codes:
4669 - Wholesale
of waste and scrap and other products n.e.c.
NACE Rev 2 Codes:
4675 - Wholesale
of chemical products
NAICS 2012 Codes:
4246 - Chemical
and Allied Products Merchant Wholesalers
US SIC 1987:
5169 - Chemicals
and Allied Products, Not Elsewhere Classified
UK SIC 2007:
4675 - Wholesale
of chemical products
Business Description
Eurocolor SpA is
primarily engaged in wholesale of industrial chemicals (aniline, printing ink,
essential oils, industrial gases, chemical glues, colouring matter, synthetic
resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids
and sulphur, starch derivatives); wholesale of fertilisers and agro-chemical
products; wholesale of plastic materials in primary forms; and wholesale of
rubber.
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Executive report
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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 |
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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 |
19.4 |
21.3 |
20.0 |
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Net sales |
19.2 |
21.0 |
19.3 |
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Other operating income |
0.0 |
0.0 |
0.0 |
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Raw materials and consumables employed |
12.1 |
13.5 |
12.5 |
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Other expenses |
3.3 |
4.0 |
4.0 |
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Total payroll costs |
2.2 |
2.5 |
2.1 |
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Fixed asset depreciation and amortisation |
0.7 |
0.8 |
0.5 |
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Other operating costs |
0.1 |
0.1 |
0.2 |
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Net operating
income |
1.1 |
0.5 |
0.7 |
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Total financial
income |
0.0 |
0.1 |
-0.1 |
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Total expenses |
0.2 |
0.3 |
0.2 |
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Profit before tax |
0.8 |
0.3 |
0.5 |
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Extraordinary result |
0.1 |
- |
- |
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Profit after extraordinary items and
before tax |
0.9 |
0.3 |
0.5 |
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Total taxation |
0.3 |
0.2 |
0.2 |
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Net profit |
0.6 |
0.1 |
0.2 |
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 |
4.8 |
4.1 |
4.2 |
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Provision for risks |
0.2 |
0.3 |
0.2 |
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Provision for pensions |
0.7 |
0.6 |
0.7 |
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Mortgages and loans |
0.0 |
- |
0.2 |
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Trade creditors |
3.4 |
2.5 |
3.1 |
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Bank loans and overdrafts |
6.4 |
8.1 |
7.3 |
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Other current liabilities |
0.4 |
0.5 |
1.0 |
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Accruals and deferred income |
0.2 |
0.2 |
0.2 |
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Total current
liabilities |
10.5 |
11.3 |
11.6 |
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Total
liabilities (including net worth) |
16.2 |
16.4 |
16.8 |
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Intangibles |
0.1 |
0.1 |
0.1 |
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Buildings |
2.0 |
2.2 |
2.6 |
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Total tangible
fixed assets |
2.5 |
2.8 |
3.3 |
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Long-term investments |
0.0 |
0.0 |
0.0 |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Receivables due after 1 year |
0.1 |
0.1 |
0.0 |
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Total
non-current assets |
2.7 |
3.0 |
3.4 |
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Finished goods |
3.8 |
3.5 |
3.4 |
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Net stocks and work in progress |
3.9 |
3.7 |
3.6 |
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Trade debtors |
8.2 |
8.1 |
8.0 |
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Other receivables |
0.5 |
0.8 |
1.1 |
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Cash and liquid assets |
0.9 |
0.9 |
0.6 |
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Accruals |
0.0 |
0.0 |
0.0 |
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Total current
assets |
13.5 |
13.4 |
13.4 |
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Total assets |
16.2 |
16.4 |
16.8 |
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 |
1.20 |
1.20 |
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Quick ratio |
0.90 |
0.90 |
0.80 |
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Current liabilities to net worth |
0.02% |
0.03% |
0.03% |
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Sales per employee |
0.50 |
0.47 |
0.50 |
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Profit per employee |
0.02 |
0.01 |
0.01 |
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Average wage per employee |
0.06 |
0.06 |
0.05 |
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Net worth |
4.8 |
4.1 |
4.2 |
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Number of employees |
30 |
32 |
29 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.71 |
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UK Pound |
1 |
Rs.103.50 |
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Euro |
1 |
Rs.85.82 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.