MIRA
INFORM REPORT
|
Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANDREA BIZZOTTO SPA |
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Registered Office : |
Via Spin 71/73, Romano D'Ezzelino, 36060 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.11.1996 |
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Com. Reg. No.: |
02576930248 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
Wholesaler of Household Goods including Garden Furniture, Interior
Furniture, Basketry, Kitchen
Tools, Home Décor, Furniture Light, Bathroom
Textiles, Home
Textiles & Curtains |
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|
|
|
No. of Employees |
113 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 but Correct |
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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
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
Company name
& address
Andrea Bizzotto SpA
Via Spin 71/73
Romano D'Ezzelino, 36060
Italy
Tel:
+39 0424 832311
Fax: +39
0424 514699
Synthesis
Employees:
113
Company Type:
Public Subsidiary
Corporate Family: 2
Companies
Ultimate Parent: Bizzotto SpA
Incorporation Date: 15-Nov-1996
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2012
Reporting Currency: Euro
Annual Sales:
41.2
Total Assets:
50.1
Business
Description
Wholesaler of Household Goods including Garden Furniture, Interior
Furniture, Basketry, Kitchen Tools,
Home Décor, Furniture Light, Bathroom
Textiles, Home Textiles
& Curtains
Industry
Industry Miscellaneous
Wholesale
ANZSIC 2006:
3739 - Other Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4: 4690 - Non-specialized wholesale trade
NACE Rev 2: 4690 - Non-specialised wholesale trade
NAICS 2012: 423990 - Other Miscellaneous Durable Goods
Merchant Wholesalers
UK SIC 2007: 4690 - Non-specialised wholesale trade
US SIC 1987:
5099 - Durable Goods, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Arianna Merlo |
Vice president |
|
Maria Fiorenza Bizzotto |
Member of the board |
|
Carla Bizzotto |
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 Spin 71/73
Romano
D'Ezzelino, 36060
Italy
Tel: +39 0424 832311
Fax: +39 0424 514699
Sales EUR(mil): 32.0
Assets EUR(mil): 37.9
Employees: 113
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous
Capital Goods
Incorporation
Date: 15-Nov-1996
Company Type: Public
Subsidiary
Quoted Status: Not
Quoted
Registered
No.(ITA): 02576930248
Vice president: Arianna
Merlo
Industry Codes
ANZSIC 2006
Codes:
3739 - Other
Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4 Codes:
4690 - Non-specialized
wholesale trade
4649 - Wholesale
of other household goods
NACE Rev 2 Codes:
4690 - Non-specialised
wholesale trade
4649 - Wholesale
of other household goods
NAICS 2012 Codes:
423990 - Other
Miscellaneous Durable Goods Merchant Wholesalers
4232 - Furniture
and Home Furnishing Merchant Wholesalers
US SIC 1987:
5099 - Durable
Goods, Not Elsewhere Classified
UK SIC 2007:
4690 - Non-specialised
wholesale trade
4649 - Wholesale
of other household goods
Business Description
Wholesaler of Household Goods including Garden Furniture, Interior
Furniture, Basketry, Kitchen Tools,
Home Décor, Furniture Light, Bathroom
Textiles, Home Textiles
& Curtains
|
Corporate Family |
Corporate Structure News: |
|
Bizzotto
SpA |
|
|
Andrea Bizzotto SpA |
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Bassano Del Grappa, Vicenza |
Italy |
Property Managers |
0.0 |
6 |
|
|
|
Subsidiary |
Romano D'Ezzelino, Vicenza |
Italy |
Miscellaneous Wholesale |
41.2 |
113 |
|
executive report
|
Board
of Directors |
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|||
|
Member of the board |
Director/Board Member |
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|||
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Member of the board |
Director/Board Member |
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|
Executives |
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|||
|
Vice president |
Senior Management (General) |
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 |
41.4 |
58.5 |
59.4 |
|
Net sales |
41.2 |
57.7 |
58.9 |
|
Other operating income |
0.3 |
0.8 |
0.5 |
|
Raw materials and consumables
employed |
25.6 |
34.3 |
36.5 |
|
Other expenses |
11.0 |
15.1 |
14.5 |
|
Total payroll costs |
5.1 |
6.1 |
5.8 |
|
Fixed asset depreciation and
amortisation |
1.4 |
1.2 |
1.2 |
|
Other operating costs |
0.7 |
1.4 |
0.5 |
|
Net
operating income |
-2.4 |
0.4 |
0.9 |
|
Total
financial income |
0.5 |
0.7 |
1.8 |
|
Total
expenses |
1.6 |
1.5 |
1.1 |
|
Profit before tax |
-3.5 |
-0.3 |
1.6 |
|
Extraordinary result |
0.4 |
0.8 |
0.0 |
|
Profit after extraordinary
items and before tax |
-3.1 |
0.5 |
1.6 |
|
Total taxation |
-0.7 |
0.5 |
0.8 |
|
Net
profit |
- |
0.1 |
0.8 |
|
Net
loss |
2.4 |
- |
- |
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 |
11.1 |
13.9 |
14.7 |
|
Provision for risks |
1.1 |
1.0 |
1.0 |
|
Provision for pensions |
0.6 |
0.7 |
0.7 |
|
Mortgages and loans |
2.6 |
3.2 |
3.9 |
|
Trade creditors |
5.3 |
8.7 |
10.1 |
|
Bank loans and overdrafts |
27.8 |
27.9 |
32.8 |
|
Other current liabilities |
1.6 |
2.0 |
1.9 |
|
Accruals and deferred income |
0.1 |
0.1 |
0.1 |
|
Total
current liabilities |
34.7 |
38.6 |
44.9 |
|
Total
liabilities (including net worth) |
50.1 |
57.3 |
65.1 |
|
Intangibles |
1.1 |
0.6 |
0.8 |
|
Buildings |
13.1 |
12.8 |
13.4 |
|
Total
tangible fixed assets |
14.7 |
14.8 |
15.7 |
|
Long-term investments |
0.1 |
0.0 |
0.0 |
|
Total
financial assets |
1.2 |
1.0 |
0.0 |
|
Receivables due after 1 year |
0.9 |
1.1 |
0.7 |
|
Total
non-current assets |
17.8 |
17.4 |
17.2 |
|
Finished goods |
13.8 |
16.1 |
22.5 |
|
Net stocks and work in
progress |
15.7 |
19.1 |
25.7 |
|
Trade debtors |
12.4 |
15.7 |
18.9 |
|
Other receivables |
2.1 |
1.2 |
1.1 |
|
Cash and liquid assets |
0.1 |
0.7 |
0.2 |
|
Accruals |
1.9 |
3.1 |
1.9 |
|
Total
current assets |
32.2 |
39.9 |
48.0 |
|
Total
assets |
50.1 |
57.3 |
65.1 |
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 |
0.90 |
1.00 |
1.10 |
|
Quick ratio |
0.50 |
0.50 |
0.50 |
|
Current liabilities to net worth |
0.03% |
0.03% |
0.03% |
|
Sales per employee |
0.28 |
0.33 |
0.34 |
|
Profit per employee |
-0.02 |
0.00 |
0.01 |
|
Average wage per employee |
0.04 |
0.04 |
0.03 |
|
Net worth |
11.1 |
13.9 |
14.7 |
|
Number of employees |
113 |
125 |
130 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
UK Pound |
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
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.