MIRA INFORM REPORT
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Report Date : |
21.05.2014 |
IDENTIFICATION DETAILS
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Name : |
REGGIANI MACCHINE SPA |
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Registered Office : |
Via Zanica 17/O, Grassobbio,
24050 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.12.1994 |
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Com. Reg. No.: |
02349480166 |
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Legal Form : |
Public Independent 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; manufacture 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; manufacture 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 : |
135 (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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 higher. 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 133% of GDP in 2013, but investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era. The government still faces pressure from investors and European partners to sustain its efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2013 economic growth and labor market conditions deteriorated, with growth at -1.8% and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's GDP is now 8% below its 2007 pre-crisis level.
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Source : CIA |
Company
name and address
Reggiani
Macchine SpA
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Employees:
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135
(31.12.2012) |
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Company
Type: |
Public
Independent |
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Incorporation
Date: |
06-Dec-1994
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Fiscal
Year End: |
31-Dec-2012
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Reporting
Currency: |
Euro
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Annual
Sales: |
53.5 |
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Total
Assets: |
71.2 |
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Business Description |
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Reggiani Macchine 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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Industry |
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Industry |
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ANZSIC 2006: |
2499 - Other Machinery and Equipment Manufacturing Not
Elsewhere Classified |
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ISIC Rev 4: |
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NACE Rev 2: |
2899 - Manufacture of other special-purpose machinery
n.e.c. |
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NAICS 2012: |
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UK SIC 2007: |
2899 - Manufacture of other special-purpose machinery
n.e.c. |
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US SIC 1987: |
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Registered
No.(ITA)
02349480166
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566
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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 |
64.5 |
49.4 |
45.8 |
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Net sales |
53.5 |
41.2 |
39.6 |
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Other operating income |
1.8 |
1.9 |
1.0 |
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Raw materials and consumables employed |
33.9 |
25.0 |
23.0 |
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Other expenses |
7.9 |
6.5 |
7.2 |
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Total payroll costs |
12.4 |
10.5 |
8.5 |
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Fixed asset depreciation and amortisation |
4.2 |
3.1 |
2.5 |
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Other operating costs |
1.7 |
1.4 |
1.5 |
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Net operating income |
4.4 |
2.7 |
3.1 |
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Total financial income |
0.3 |
0.5 |
0.2 |
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Total expenses |
2.7 |
1.9 |
1.3 |
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Profit before tax |
2.0 |
1.4 |
2.0 |
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Extraordinary result |
-1.1 |
-0.5 |
-1.1 |
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Profit after extraordinary items and before tax |
0.9 |
0.9 |
0.9 |
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Total taxation |
0.7 |
0.7 |
0.7 |
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Net profit |
0.2 |
0.2 |
0.2 |
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Annual Balance Sheet |
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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 |
10.3 |
10.0 |
10.1 |
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Provision for risks |
- |
0.0 |
0.0 |
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Provision for pensions |
2.1 |
1.7 |
1.7 |
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Mortgages and loans |
5.1 |
4.2 |
1.0 |
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Other long-term liabilities |
4.5 |
6.6 |
7.5 |
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Trade creditors |
16.1 |
10.7 |
15.7 |
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Bank loans and overdrafts |
17.6 |
13.5 |
14.2 |
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Other current liabilities |
15.4 |
13.2 |
7.2 |
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Accruals and deferred income |
0.1 |
0.2 |
0.2 |
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Total current liabilities |
49.2 |
37.6 |
37.2 |
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Total liabilities (including net worth) |
71.2 |
60.0 |
57.5 |
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Intangibles |
16.2 |
10.1 |
9.0 |
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Total tangible fixed assets |
6.4 |
7.7 |
5.3 |
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Long-term investments |
0.0 |
2.3 |
2.3 |
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Total financial assets |
0.0 |
2.3 |
2.3 |
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Receivables due after 1 year |
0.0 |
0.3 |
0.3 |
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Total non-current assets |
22.7 |
20.4 |
16.9 |
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Finished goods |
15.9 |
7.2 |
6.3 |
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Net stocks and work in progress |
19.8 |
9.7 |
8.8 |
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Trade debtors |
16.4 |
15.6 |
12.8 |
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Other receivables |
10.1 |
13.2 |
17.1 |
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Cash and liquid assets |
0.9 |
0.4 |
1.5 |
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Marketable securities |
0.9 |
0.4 |
0.1 |
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Accruals |
0.4 |
0.3 |
0.2 |
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Total current assets |
48.6 |
39.6 |
40.6 |
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Total assets |
71.2 |
60.0 |
57.5 |
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Annual Ratios |
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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 |
1.00 |
1.00 |
1.10 |
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Quick ratio |
0.60 |
0.80 |
0.90 |
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Current liabilities to net worth |
0.05% |
0.04% |
0.04% |
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Sales per employee |
0.31 |
0.24 |
0.26 |
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Profit per employee |
0.01 |
0.01 |
0.01 |
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Average wage per employee |
0.07 |
0.06 |
0.06 |
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Net worth |
10.3 |
10.0 |
10.1 |
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Number of employees |
135 |
126 |
113 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.58.75 |
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1 |
Rs.98.77 |
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Euro |
1 |
Rs.80.53 |
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.