MIRA INFORM REPORT
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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
PEDROLLO SPA
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Registered Office : |
Via Enrico
Fermi 7, Zona Industriale, San Bonifacio, 37047 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.04.1974 |
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Com. Reg. No.: |
00451260236 |
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Legal Form : |
Public
Independent Company |
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Line of Business : |
manufacturer of Pump, Compressor, Heating and Ventilation Equipment |
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No. of Employees |
449 (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
Pedrollo SpA
Via Enrico Fermi
7
Zona Industriale
San Bonifacio,
37047
Italy
Tel: +39 0456 136311
Fax: +39 0457 614663
Web: www.pedrollo.com
synthesis
Employees: 449 (31.12.2012)
Company Type: Public Independent
Company
Incorporation
Date: 29-Apr-1974
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: Euro
Annual Sales: 181.8
Total Assets: 195.5
Business Description
manufacturer of Pump, Compressor, Heating and Ventilation Equipment
Industry
Industry Machinery and Equipment
Manufacturing
ANZSIC 2006:
245 - Pump, Compressor, Heating and Ventilation Equipment Manufacturing
ISIC Rev 4:
2813 - Manufacture of other pumps, compressors, taps and valves
NACE Rev 2:
2813 - Manufacture of other pumps and compressors
NAICS 2012:
33391 - Pump and Compressor Manufacturing
UK SIC 2007:
2813 - Manufacture of other pumps and compressors
US SIC 1987:
3586 - Measuring and Dispensing Pumps
Key Executives
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Name |
Title |
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Silvano Pedrollo |
President |
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Moreno Carlin |
Executive |
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Filippo Finetto |
Purchasing Manager |
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Graziella Malacchini |
Purchasing Manager |
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Massimiliano Migatta |
Purchasing 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 Enrico Fermi
7
Zona Industriale
San Bonifacio,
37047
Italy
Tel: +39
0456 136311
Fax: +39
0457 614663
Web: www.pedrollo.com
Sales EUR(mil): 141.5
Assets EUR(mil): 147.9
Employees: 449 (31.12.2012)
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous Capital
Goods
Incorporation
Date: 29-Apr-1974
Company Type: Public Independent Company
Quoted Status: Not Quoted
Registered
No.(ITA): 00451260236
President: Silvano Pedrollo
Industry Codes
ANZSIC 2006
Codes:
245 - Pump,
Compressor, Heating and Ventilation Equipment Manufacturing
ISIC Rev 4 Codes:
2813 - Manufacture
of other pumps, compressors, taps and valves
NACE Rev 2 Codes:
2813 - Manufacture
of other pumps and compressors
NAICS 2012 Codes:
33391 - Pump and Compressor Manufacturing
US SIC 1987:
3586 - Measuring and Dispensing Pumps
UK SIC 2007:
2813 - Manufacture of other pumps and
compressors
Business Description
Pedrollo SpA is
primarily engaged in manufacturer of pump, compressor, heating
and ventilation equipment
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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Executive |
Senior Management (General) |
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Purchasing Manager |
Purchasing Executive |
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Purchasing Manager |
Purchasing Executive |
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Purchasing Manager |
Purchasing Executive |
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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 |
183.9 |
189.8 |
171.3 |
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Net sales |
181.8 |
182.8 |
167.5 |
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Other operating income |
3.3 |
3.5 |
2.7 |
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Raw materials and consumables employed |
92.8 |
97.6 |
85.0 |
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Other expenses |
22.9 |
23.5 |
22.2 |
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Total payroll costs |
27.0 |
29.1 |
26.3 |
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Fixed asset depreciation and amortisation |
8.9 |
9.4 |
8.8 |
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Other operating costs |
4.8 |
0.7 |
4.6 |
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Net operating income |
27.6 |
29.6 |
24.4 |
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Total financial income |
1.9 |
2.1 |
0.3 |
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Total expenses |
0.0 |
0.0 |
0.0 |
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Profit before tax |
29.5 |
31.7 |
24.8 |
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Extraordinary result |
0.8 |
0.3 |
0.0 |
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Profit after extraordinary items and before tax |
30.3 |
32.0 |
24.7 |
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Total taxation |
9.6 |
10.3 |
8.1 |
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Net profit |
20.7 |
21.7 |
16.7 |
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 |
149.8 |
126.3 |
113.0 |
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Provision for risks |
0.2 |
0.2 |
0.2 |
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Provision for pensions |
3.7 |
3.7 |
3.9 |
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Trade creditors |
35.6 |
22.8 |
45.6 |
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Other current liabilities |
6.1 |
6.9 |
7.3 |
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Accruals and deferred income |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
41.7 |
29.7 |
52.9 |
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Total liabilities (including net worth) |
195.5 |
159.8 |
170.0 |
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Intangibles |
1.1 |
0.6 |
0.7 |
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Buildings |
51.7 |
44.4 |
32.0 |
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Total tangible fixed assets |
80.3 |
76.1 |
62.0 |
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Long-term investments |
2.7 |
2.7 |
2.7 |
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Total financial assets |
2.7 |
2.7 |
2.7 |
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Receivables due after 1 year |
2.2 |
2.1 |
0.0 |
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Total non-current assets |
86.3 |
81.4 |
65.4 |
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Finished goods |
11.9 |
12.0 |
9.7 |
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Net stocks and work in progress |
24.2 |
21.5 |
20.9 |
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Trade debtors |
19.8 |
18.4 |
22.1 |
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Other receivables |
9.1 |
7.4 |
9.1 |
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Cash and liquid assets |
55.9 |
31.0 |
52.4 |
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Accruals |
0.1 |
0.1 |
0.1 |
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Total current assets |
109.1 |
78.4 |
104.5 |
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Total assets |
195.5 |
159.8 |
170.0 |
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 |
2.60 |
2.60 |
2.00 |
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Quick ratio |
2.00 |
1.90 |
1.60 |
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Current liabilities to net worth |
0.00% |
0.00% |
0.01% |
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Sales per employee |
0.32 |
0.29 |
0.28 |
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Profit per employee |
0.05 |
0.05 |
0.04 |
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Average wage per employee |
0.05 |
0.05 |
0.04 |
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Net worth |
149.8 |
126.3 |
113.0 |
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Number of employees |
449 |
454 |
455 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.13 |
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UK Pound |
1 |
Rs.99.65 |
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Euro |
1 |
Rs.82.91 |
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.