MIRA
INFORM REPORT
|
Report Date : |
17.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
TECHNISCHE GLASWERKE ILMENAU GMBH |
|
|
|
|
Registered Office : |
Am Vogelherd 74 Ilmenau, 98693 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
20.07.1994 |
|
|
|
|
Com. Reg. No.: |
303358 |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
Manufacture and processing of other glass including technical glassware |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
company name and address
Technische Glaswerke Ilmenau GmbH
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Business Description |
|
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Technische Glaswerke Ilmenau GmbH is primarily engaged in manufacture of
laboratory, hygienic or pharmaceutical glassware; manufacture of clock or
watch glasses, optical glass and optical elements not optically worked;
manufacture of glassware used in imitation jewellery; manufacture of glass
insulators and glass insulating fittings; manufacture of glass paving blocks;
and manufacture of glass in rods or tubes. |
Industry
|
Industry |
Personal and Household Products |
|
ANZSIC 2006: |
2010 - Glass and Glass Product
Manufacturing |
|
NACE 2002: |
2615 - Manufacture and processing of other
glass including technical glassware |
|
NAICS 2002: |
327212 - Other Pressed and Blown Glass and
Glassware Manufacturing |
|
UK SIC 2003: |
2615 - Manufacture and processing of other
glass including technical glassware |
|
US SIC 1987: |
3231 - Glass Products, Made of Purchased
Glass |
Key
Executives
|
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Structure News
|
|
|
|
|
|
Technische
Glaswerke Ilmenau GmbH |
|
|
|
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
MEP Management + Equity Partners AG |
Parent |
|
|
|
|
|
|
Subsidiary |
Ilmenau, ThĂ¼ringen |
Germany |
Personal and Household Products |
|
229 |
Executives Report
|
|
|
|
|
|
|
||
|
|
||
|
|
||
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Taxes and social security costs |
1.7 |
1.7 |
1.9 |
|
Total payroll costs |
9.6 |
9.3 |
11.0 |
|
Fixed asset depreciation and amortisation |
1.9 |
2.7 |
2.6 |
|
Other operating costs |
8.6 |
9.5 |
12.6 |
|
Net operating income |
2.6 |
-1.7 |
3.6 |
|
Other income |
0.0 |
0.0 |
0.0 |
|
Interest payable on loans |
0.7 |
1.0 |
1.6 |
|
Total expenses |
0.7 |
0.9 |
1.6 |
|
Profit before tax |
1.8 |
-2.7 |
2.0 |
|
Extraordinary income |
2.8 |
- |
- |
|
Provisions |
0.7 |
0.7 |
0.8 |
|
Extraordinary expenses |
0.3 |
- |
- |
|
Extraordinary result |
2.5 |
- |
- |
|
Other taxes |
0.1 |
0.1 |
0.1 |
|
Total taxation |
0.3 |
0.0 |
0.1 |
|
Net profit |
3.9 |
- |
1.7 |
|
Net loss |
- |
-2.8 |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
0.7 |
0.8 |
0.8 |
|
Unavailable reserves |
2.8 |
3.7 |
5.7 |
|
Profits for the year |
2.8 |
-1.2 |
1.6 |
|
Profit brought forward from previous year(s) |
-1.2 |
1.6 |
0.0 |
|
Total stockholders equity |
3.5 |
-0.4 |
2.4 |
|
Provisions and allowances |
0.7 |
0.7 |
0.8 |
|
Total long-term liabilities |
1.4 |
9.1 |
- |
|
Total current liabilities |
6.0 |
7.7 |
19.8 |
|
Total liabilities (including net worth) |
18.4 |
25.1 |
32.8 |
|
Patents |
- |
0.0 |
0.1 |
|
Intangibles |
0.2 |
0.0 |
0.1 |
|
Land and buildings |
- |
5.2 |
5.3 |
|
Machinery and tools |
- |
10.3 |
12.1 |
|
Fixtures and equipment |
- |
5.2 |
5.3 |
|
Total tangible fixed assets |
9.5 |
15.6 |
17.5 |
|
Total financial assets |
0.0 |
- |
- |
|
Total non-current assets |
9.7 |
15.6 |
17.6 |
|
Net stocks and work in progress |
5.5 |
6.5 |
8.9 |
|
Total receivables |
1.9 |
2.4 |
5.5 |
|
Cash and liquid assets |
0.8 |
0.2 |
0.2 |
|
Total current assets |
8.3 |
9.1 |
14.6 |
|
Prepaid expenses and deferred costs |
0.4 |
0.4 |
0.6 |
|
Total assets |
18.4 |
25.1 |
32.8 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
13.81 |
11.84 |
7.37 |
|
Acid test ratio |
4.61 |
3.41 |
2.88 |
|
Total liabilities to net worth |
0.21% |
-3.78% |
0.84% |
|
Net worth to total assets |
0.03% |
0.01% |
0.02% |
|
Current liabilities to net worth |
0.17% |
-1.73% |
0.84% |
|
Current liabilities to stock |
0.11% |
0.12% |
0.22% |
|
Fixed assets to net worth |
0.28% |
-3.51% |
0.75% |
|
Return on assets |
0.03% |
-0.01% |
0.01% |
|
Shareholders' return |
0.08% |
-0.20% |
0.03% |
|
Profit per employee |
0.46 |
-0.88 |
0.53 |
|
Average wage per employee |
3.16 |
2.95 |
3.42 |
|
Net worth |
3.5 |
-0.4 |
2.4 |
|
Number of employees |
229 |
227 |
220 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.24 |
|
|
1 |
Rs.73.58 |
|
Euro |
1 |
Rs.65.06 |
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.