MIRA INFORM REPORT

 

 

Report Date :

27.09.2007

 

IDENTIFICATION DETAILS

 

Name :

IBC Solar AG

 

 

Registered Office :

Am Hochgericht 10, 96231 Bad Staffelstein, Post Box 1107

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

25.08.2000

 

 

Com. Reg. No.:

HRB 3261

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Production of thermal power excl. purchases from other suppliers for distribution

Technical and Economic Consultancy

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

name & address

 

IBC Solar AG

Am Hochgericht 10

96231 Bad Staffelstein

Post Box:  1107

Telephone:        09573/9224-0

Telefax:             09573/9224-111

Homepage:        www.ibc-solar.de

E-Mail:              info@ibc-solar.de

 

 

VAT no.

 

DE813077724

 

 

Tax ID number

 

230/169/00001

 

 

CONCLUSION

 

Business relations are permissible.

 

The company is considered solvent for credits within its scope of business.

 

 

LEGAL FORM 

 

Public limited company

 

 

Date of foundation

 

25.08.2000

 

 

Registered on

 

01.12.2000

 

 

Commercial Register

 

Local court 96450 COBURG

 

 

Under

 

HRB 3261

 

 

Share capital

 

EUR          5.000.000,00

 

 

President of the Board of Directors

 

Udo Möhrstedt

Hirtengasse 9a

96231 Bad Staffelstein

having sole power of representation

born 27.05.1940

Occupation: Engineer

Marital status: married

spouse      Gertrud Moll-Möhrstedt

née: Moll

born on 29.05.1947

 

 

President of the Supervisory Board

 

Gertrud Moll-Möhrstedt

Hirtengasse 9a

96231 Bad Staffelstein

born: Moll

born 29.05.1947

Occupation: Fully qualified merchant

Marital status: married

 

 

Member of the Supervisory Board

 

Rolf-Heinrich Wedemeier

Herderstr. 9

30625 Hannover

born 15.11.1950

Occupation: Fully qualified merchant

Marital status: married

 

 

Proxy

 

Rudolf Sebald

96182 Reckendorf

having sole power of representation

born 20.07.1959

 

 

Proxy

 

Karin Friedrich

96215 Lichtenfels

having sole power of representation

born 06.11.1964

 

 

Proxy

 

Norbert Hahn

96482 Ahorn

having sole power of representation

born 08.02.1957

 

 

Proxy

 

Christian Lieberth

96175 Pettstadt

having sole power of representation

born 21.01.1964

 

 

Proxy

 

Walter Steck

96047 Bamberg

having sole power of representation

born 22.10.1951

 

 

Further functions/participations of Udo

Möhrstedt (President of the Board of

Directors)

 

Limited Partner:

Möhrstedt Grundstücks- verwaltung AG & Co. KG

Am Hochgericht 10

96231 Bad Staffelstein

Legal form: Limited partnership with public limited company as gen. part

Total cap. contribution: EUR       10.225,84

Share:                          EUR        10.225,84

Reg. Data:  01.12.2000

HRA 3833

96450 COBURG

Shareholder:

Sun Value GmbH

Am Hochgericht 10

96231 Bad Staffelstein

Legal form: Private limited company

Share capital:     EUR            500.000,00

Share:                EUR             380.000,00

Reg. Data:  23.05.2006

HRB 4134

96450 COBURG

 

Shareholder:

Solar Verlag GmbH

Wilhelmstr. 34

52070 Aachen

Legal form: Private limited company

Share capital:     EUR             61.355,03

Share:             EUR              1.278,23

Reg. Data:  01.03.1996

HRB 6505

52070 AACHEN

 

Manager:

Sun Value GmbH

Am Hochgericht 10

96231 Bad Staffelstein

Legal form: Private limited company

Share capital:     EUR            500.000,00

Reg. Data:  23.05.2006

HRB 4134

96450 COBURG

 

Shareholder:

SOLARWATT AG

Maria-Reiche-Str. 8

01109 Dresden

Legal form: Public limited company

Share capital:     EUR          7.000.000,00

Reg. Data:  11.10.2005

HRB 24009

01099 DRESDEN

Turnover:          EUR        100.000.000,00

Employees:                               320

 

 

BUSINESS ACTIVITIES

 

40114

Production of thermal power excl. purchases from other suppliers for distribution

 

74208

TECHNICAL AND ECONOMIC CONSULTANCY

 

93053

OTHER PERSONAL SERVICE ACTIVITIES, N.E.C.

 

 

PARTICIPATION

 

General Partner:

Möhrstedt Grundstücks- verwaltung AG & Co. KG

Am Hochgericht 10

96231 Bad Staffelstein

Legal form: Limited partnership with public limited company as gen. part

Total cap. contribution: EUR       10.225,84

Reg. Data:  01.12.2000

HRA 3833

96450 COBURG

 

Limited Partner:

Akkumulatorenfabrik Moll GmbH & Co. KG

Angerstr. 50

Post Box: 1120

96231 Bad Staffelstein

Legal form: Ltd partnership with priv. ltd. Company as General partner

Total cap. contribution: EUR      750.000,00

Share:             EUR            540.000,00

Reg. Data:  09.07.1949

HRA 1118

96450 COBURG

Turnover:          EUR         33.260.000,00

Employees:   209

 

Shareholder:

FEG - Elektronik Fertigungs- und

Entwicklungs GmbH

Franz-Mehring-Str. 18

99610 Sömmerda

Legal form: Private limited company

Share capital:     EUR            500.000,00

Share:                EUR            450.000,00

Reg. Data:  04.05.1992

HRB 104028

07745 JENA

Turnover:          EUR          2.300.000,00

Employees:   9

 

Shareholder:

IBC Solarstrom Verwaltungs GmbH

Am Hochgericht 10

96231 Bad Staffelstein

Legal form: Private limited company

Share capital:     EUR             25.000,00

Share:             EUR             25.000,00

Reg. Data:  25.03.2003

HRB 3675

96450 COBURG

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Am Hochgericht 10

                                    96231 Bad Staffelstein

 

Land register documents were not available.

 

 

BANKERS

 

DEUTSCHE BANK, BAMBERG

Sort. code: 76070012, Account No: 8068017

 

POSTBANK, NÜRNBERG, MITTELFR

Sort. code: 76010085, Account No: 98600851

 

SEB MERCHANT BANK HAMBURG, HAMBURG

Sort. code: 20020200, Account No: 37024004

 

UMWELTBANK, NÜRNBERG, MITTELFR

Sort. code: 76035000, Account No: 197971

 

SPARKASSE COBURG-LICHTENFELS, BAD STAFFELSTEIN

Sort. code: 78350000, Account No: 92534940

 

 

FIGURES

 

Financial year:               01.01. - 31.12.

Turnover:                       2006     EUR        400.000.000,00

Share capital:                            EUR            5.000.000,00

Employees:                   150

 

Approximate figures are given.


 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions