MIRA INFORM REPORT
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Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
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Name : |
NUOVA SIMA SRL |
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Registered Office : |
Frazione Valtreara 83, Genga, 60040 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.12.1987 |
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Com. Reg. No.: |
09039070157 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
engaged in credit reporting and collection agency activities; speciality design
activities; activities of exhibition and fair organisers; activities of
conference organisers |
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No. of Employees |
19 |
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
Nuova Sima SRL
Frazione Valtreara 83
Genga, 60040
Italy
Tel:
+39 0732 90162
Fax: +39
0732 90348
Synthesis
Employees:
19
Company Type:
Private Subsidiary
Corporate Family: 2
Companies
Ultimate Parent:
SIMA SPA
Incorporation Date: 09-Dec-1987
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2012
Reporting Currency: Euro
Annual Sales:
17.2
Total Assets: 17.5
Business Description
Nuova Sima SRL is primarily engaged in credit
reporting and collection agency activities; speciality design activities;
activities of exhibition and fair organisers; activities of conference
organisers; and other business activities not elsewhere classified.
Industry
Industry Miscellaneous Professional
Services
ANZSIC 2006:
6999 - Other Professional, Scientific and Technical Services Not Elsewhere
Classified
ISIC Rev 4:
8299 - Other business support service activities n.e.c.
NACE Rev 2:
8299 - Other business support service activities n.e.c.
NAICS 2012:
561990 - All Other Support Services
UK SIC 2007:
8299 - Other business support service activities n.e.c.
US SIC 1987:
7389 - Business Services, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Sergio Castellani |
President |
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Elda Savini |
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
Frazione Valtreara 83
Genga, 60040
Italy
Tel: +39
0732 90162
Fax: +39
0732 90348
Sales EUR(mil): 13.4
Assets EUR(mil): 13.2
Employees: 19
Fiscal Year End: 31-Dec-2012
Industry: Business
Services
Incorporation Date: 09-Dec-1987
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(ITA): 09039070157
President: Sergio
Castellani
Industry Codes
ANZSIC 2006 Codes:
6999 - Other Professional, Scientific and
Technical Services Not Elsewhere Classified
ISIC Rev 4 Codes:
8299 - Other business support service
activities n.e.c.
NACE Rev 2 Codes:
8299 - Other business support service
activities n.e.c.
NAICS 2012 Codes:
561990 - All Other Support Services
US SIC 1987:
7389 - Business Services, Not Elsewhere
Classified
UK SIC 2007:
8299 - Other business support service
activities n.e.c.
Business Description
Nuova Sima SRL is primarily engaged in credit
reporting and collection agency activities; speciality design activities;
activities of exhibition and fair organisers; activities of conference
organisers; and other business activities not elsewhere classified.
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Bank: |
Cassa di Risparmio di Fabriano e Cupramontana Ag |
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Corporate Family |
Corporate Structure News: |
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Nuova
Sima SRL |
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Nuova Sima SRL |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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SIMA SPA |
Parent |
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Nuova Sima SRL |
Subsidiary |
Genga, Ancona |
Italy |
Miscellaneous Professional Services |
17.2 |
19 |
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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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Executives |
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President |
President |
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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 |
|
Exchange
Rate (Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Total income |
17.2 |
18.8 |
16.2 |
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Net sales |
17.2 |
18.6 |
16.0 |
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Other operating income |
0.0 |
0.3 |
0.3 |
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Raw materials and consumables employed |
5.1 |
6.2 |
6.2 |
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Other expenses |
4.9 |
5.0 |
3.9 |
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Total payroll costs |
1.4 |
1.5 |
1.2 |
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Fixed asset depreciation and amortisation |
0.6 |
0.7 |
0.6 |
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Other operating costs |
0.2 |
0.1 |
0.0 |
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Net operating income |
4.9 |
5.4 |
4.3 |
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Total financial income |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
5.0 |
5.4 |
4.3 |
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Extraordinary result |
0.0 |
0.0 |
0.0 |
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Profit after extraordinary items and before tax |
5.0 |
5.4 |
4.3 |
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Total taxation |
1.6 |
1.8 |
1.4 |
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Net profit |
3.4 |
3.6 |
2.9 |
Annual Balance Sheet
Financials in: USD (mil)
|
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 |
15.0 |
13.0 |
11.4 |
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Provision for pensions |
0.3 |
0.2 |
0.2 |
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Mortgages and loans |
0.3 |
0.3 |
0.4 |
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Other long-term liabilities |
0.2 |
0.2 |
0.2 |
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Trade creditors |
1.3 |
1.5 |
1.7 |
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Bank loans and overdrafts |
0.1 |
0.1 |
0.1 |
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Other current liabilities |
0.4 |
0.5 |
0.3 |
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Accruals and deferred income |
0.1 |
0.3 |
0.1 |
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Total current liabilities |
1.9 |
2.3 |
2.3 |
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Total liabilities (including net worth) |
17.5 |
16.1 |
14.5 |
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Intangibles |
0.1 |
0.1 |
0.1 |
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Buildings |
0.4 |
0.4 |
0.4 |
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Total tangible fixed assets |
3.6 |
3.3 |
2.5 |
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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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Total non-current assets |
3.7 |
3.4 |
2.6 |
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Finished goods |
0.2 |
0.2 |
0.2 |
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Net stocks and work in progress |
2.9 |
2.6 |
2.6 |
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Trade debtors |
5.5 |
6.1 |
5.9 |
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Other receivables |
0.6 |
0.2 |
0.2 |
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Cash and liquid assets |
4.8 |
3.7 |
3.2 |
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Accruals |
0.0 |
0.1 |
0.0 |
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Total current assets |
13.8 |
12.7 |
11.9 |
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Total assets |
17.5 |
16.1 |
14.5 |
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 |
7.40 |
5.40 |
5.30 |
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Quick ratio |
5.90 |
4.30 |
4.10 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.00% |
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Sales per employee |
0.70 |
0.74 |
0.64 |
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Profit per employee |
0.21 |
0.22 |
0.17 |
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Average wage per employee |
0.06 |
0.06 |
0.05 |
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Net worth |
15.0 |
13.0 |
11.4 |
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Number of employees |
19 |
18 |
19 |
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
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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.