MIRA INFORM REPORT
|
Report Date : |
15.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
FIRST SOLAR GMBH |
|
|
|
|
Registered Office : |
Rheinstr. 4n, D 55116 Mainz |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
24.05.2005 |
|
|
|
|
Com. Reg. No.: |
HRB 8855 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Agents
involved in the sale of machines |
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 |
|
Maximum Credit Limit : |
100,000 EUR |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Regular |
|
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 & address
First Solar GmbH
Main address:
Rheinstr. 4n
D 55116 Mainz
Telephone: 06131/14430
Telefax: 06131/1443500
Homepage: www.firstsolar.com
E-mail: dinfo@firstsolar.com
VAT no.
DE813787782
CONCLUSION
Business relations are permissible.
Synthesis
LEGAL FORM Private limited company
Date of foundation: 20.06.2003
Shareholders'
agreement: 20.06.2003
Registered on: 24.05.2005
Commercial Register: Local
court 55116 Mainz
under: HRB 8855
Share capital:
EUR 25,000.00
Shareholder
First Solar Holding LLC c/o The Corporation
Trust Center
1209 Orange Street
USA 19801 Delaware
Legal form: Other legal form
Share: EUR 25,000.00
Manager
Stephan Hansen
Kantstr. 1a
D 99096 Erfurt
having sole power of representation
born: 10.09.1966
Proxy
Bernhard Wilhelm Bischof
Gendalweg 35
D 35288 Wohratal
having sole power of representation
born: 03.02.1966
Proxy:
Ulrich Becker
D 60308 Frankfurt
having sole power of representation
born: 19.01.1967
Nationality: British
Proxy:
Jens Meyerhoff
14539 E. Edgewater
USA 85268 Fountain Hills, AZ
having sole power of representation
born: 14.07.1964
Nationality: American
Proxy:
David Brady
2772 s Camilla Ct.
USA 85286 Chandler, AZ
having sole power of representation
born: 03.10.1970
Nationality: American
Proxy:
Dr. Peer Günzel
D 55116 Mainz
having sole power of representation
born: 24.04.1971
Proxy:
Anja Elisabeth Lange
D 47798 Krefeld
having sole power of representation
born: 27.11.1969
Proxy:
Christopher Burghardt
B Brüssel
having sole power of representation
born: 24.12.1973
Nationality: Belgian
Further functions/participations of
Stephan Hansen (Manager)
Shareholder:
Hansen
GmbH III
Franz-August-Becker-Str. 34
D
55122 Mainz
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 22.02.2010
Reg.
data: 55116 Mainz, HRB 42545
Manager:
Hansen
GmbH IV
Franz-August-Becker-Str. 34
D
55122 Mainz
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 01.03.2010
Reg. data: 55116 Mainz, HRB 42561
Manager:
Hansen
GmbH II
Franz-August-Becker-Str. 34
D
55122 Mainz
Legal
form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 01.03.2010
Reg.
data: 55116 Mainz, HRB 42559
Manager:
Hansen
GmbH I
Franz-August-Becker-Str.
34
D
55122 Mainz
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 01.03.2010
Reg.
data: 55116 Mainz, HRB 42558
Manager:
Hansen
GmbH III
Franz-August-Becker-Str. 34
D
55122 Mainz
Legal
form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 22.02.2010
Reg.
data: 55116 Mainz, HRB 42545
COMPANY HISTORY
20.06.2003 -
23.05.2005 First Solar GmbH
Wilhelm-Wolff-Str. 27
D
99099 Erfurt
Private limited company
24.05.2005 -
09.08.2005 First Solar GmbH
Rheinstr. 4n
D
55116 Mainz
Private limited company
BUSINESS ACTIVITIES
Sectors
46141 Agents involved in the sale of machines
(except agricultural machineryand office machinery) and industrial supplies
n.e.c.
4652 Wholesale of electronic and
telecommunications equipment and parts
46693 Wholesale of other equipment and accessories
for machinery and technical supplies
71122 Engineering activities in the field of
technical sectoral planning andengineering design
BRANCHES AND FACTORIES
Branch:
First
Solar GmbH
Stralauer Platz 34
D
10243 Berlin
TEL.:
030-29779449
FAX.:
030-29779531
PARTICIPATIONS
Shareholder:
FS Solar Farms Spain GmbH
Rheinstr. 4b
D
55116 Mainz
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Reg.
data: 04.11.2009
Local court 55116 Mainz
HRB 42369
Shareholder:
Solar Farms Green Italy GmbH
Rheinstr. 4b
D
55116 Mainz
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Reg.
data: 18.05.2010
Local court 55116 Mainz
HRB 42700
FINANCIAL INFORMATION
Payment experience: cash
discount/within agreed terms
Negative information: We
have no negative information at hand.
Maximum credit: 100,000 EUR
Balance sheet year: 2009
REAL ESTATE
Type of ownership: Tenant
Address Rheinstr.
4n
D 55116 Mainz
Land register documents were not available.
BANKERS
COMMERZBANK, MAINZ A RHEIN
Sort. code: 55040022, Account no.: 2000776, BIC: COBADEFF550
FINANCIAL FIGURES
Turnover: 2009 EUR
1,402,103,066.00
Profit: 2009 EUR 43,037,743.00
Equipment: EUR 1,064,857.00
Ac/ts receivable: EUR 142,382,071.00
Liabillities: EUR 152,789,647.00
Employees:
94
BALANCE SHEETS
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 37.81
Liquidity ratio: 2.44
Return
on total capital [%]: 22.17
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 52.90
Liquidity ratio: 2.99
Return on total capital [%]: 46.39
Balance sheet ratios 01.01.2007 - 31.12.2007
Equity ratio [%]: 11.47
Liquidity ratio: 2.56
Return on total capital [%]: 11.56
Equity
ratio
The equity ratio
indicates the portion of the equity as compared to the total capital. The
higher the equity ratio, the better the economic stability (solvency) and thus
the financial autonomy of a company.
Liquidity
ratio
The liquidity
ratio shows the proportion between adjusted receivables and net liabilities.
The higher the ratio, the lower the company's financial dependancy from
external creditors.
Return
on total capital
The return on
total capital shows the efficiency and return on the total capital employed in
the company. The higher the return on total capital, the more economically does
the company work
with the invested
capital.
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2009 - 31.12.2009
ASSETS EUR 194,118,987.67
Fixed assets
EUR 1,365,523.64
Intangible assets
EUR 8,168.75
Concessions, licences, rights
EUR 8,168.75
Tangible assets
EUR 1,332,354.89
Other tangible assets / fixtures and
fittings
EUR 1,064,857.47
Advance payments made / construction
in progress
EUR 267,497.42
Financial assets
EUR 25,000.00
Shares in participations /
subsidiaries and the like
EUR 25,000.00
Shares in related companies
EUR 25,000.00
Current assets
EUR 192,668,804.53
Accounts receivable
EUR 142,382,071.78
Trade debtors
EUR 106,005,728.80
Amounts due from related companies
EUR 30,257,089.16
Other debtors and assets
EUR 6,119,253.82
Liquid means EUR 50,286,732.75
Remaining other assets
EUR 84,659.50
Accruals (assets)
EUR 84,659.50
LIABILITIES EUR 194,118,987.67
Shareholders' equity
EUR 29,342,218.86
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Reserves
EUR 24,737,341.08
Capital reserves
EUR 24,737,341.08
Balance sheet profit/loss (+/-)
EUR 4,579,877.78
Profit / loss brought forward
EUR 4,579,877.78
Provisions
EUR 8,743,079.35
Other / unspecified provisions
EUR 8,743,079.35
Liabilities
EUR 152,789,647.52
Other liabilities
EUR 152,789,647.52
Trade creditors (for IAS incl. bills
of exchange)
EUR 593,911.14
Liabililties due to related companiesEUR 147,284,193.15
Unspecified other liabilities
EUR 4,911,543.23
thereof liabilities from tax /
financial authorities EUR 4,900,707.33
thereof liabilities from social
security
EUR 0.00
Other liabilities
EUR 3,244,041.94
Deferrals (liabilities)
EUR 3,244,041.94
Profit and loss account (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 1,402,103,066.45
Other operating income
EUR 22,828,849.42
Cost of materials EUR 1,359,797,354.45
Raw materials and supplies, purchased
goods
EUR 1,359,797,354.45
Gross result (+/-)
EUR 65,134,561.42
Staff expenses EUR
10,607,330.89
Wages and salaries
EUR 9,569,715.34
Social security contributions and
expenses for pension plans and
benefits
EUR 1,037,615.55
Total depreciation
EUR 280,674.89
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 280,674.89
Other operating expenses
EUR 8,931,797.60
Operating result from continuing
operations
EUR 45,314,758.04
Interest result (+/-)
EUR -861,079.22
Interest and similar income
EUR 72,610.41
thereof from related companies
EUR 9,555.56
Interest and similar expenses
EUR 933,689.63
thereof paid to related companies
EUR 924,214.55
Financial result (+/-)
EUR -861,079.22
Result
from ordinary operations (+/-) EUR 44,453,678.82
Expenses for transfer of profits to a
parent company
EUR 43,037,743.47
Income tax / refund of income tax (+/-)EUR -1,415,935.35
Tax
(+/-) EUR -1,415,935.35
Annual surplus / annual deficit
EUR 0.00
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2008 - 31.12.2008
ASSETS EUR 54,455,925.52
Fixed assets
EUR 422,243.82
Intangible assets
EUR 5,092.82
Concessions, licences, rights
EUR 5,092.82
Tangible assets
EUR 417,151.00
Other tangible assets / fixtures and
fittings
EUR 417,151.00
Current assets
EUR 54,016,922.83
Accounts receivable EUR 48,943,954.91
Trade debtors
EUR 32,832,307.80
Amounts due from related companies
EUR 15,097,694.14
Other debtors and assets
EUR 1,013,952.97
Liquid means EUR 5,072,967.92
Remaining other assets
EUR 16,758.87
Accruals (assets)
EUR 16,758.87
LIABILITIES EUR 54,455,925.52
Shareholders' equity
EUR 4,604,877.78
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 4,579,877.78
Profit / loss brought forward
EUR 4,579,877.78
Provisions
EUR 4,036,072.25
Provisions for taxes
EUR 1,967,125.24
Other / unspecified provisions
EUR 2,068,947.01
Liabilities
EUR 45,814,975.49
Other liabilities
EUR 45,814,975.49
Trade creditors (for IAS incl. bills
of exchange)
EUR 11,159.66
Liabililties due to related companiesEUR 45,064,590.94
Unspecified other liabilities
EUR 739,224.89
thereof liabilities from tax /
financial authorities
EUR 715,740.64
thereof liabilities from social
security
EUR 21,732.25
Profit and loss account (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 808,832,368.06
Other operating income
EUR 670,687.22
Cost of materials
EUR 773,541,367.70
Raw materials and supplies, purchased
goods
EUR 773,541,367.70
Gross result (+/-) EUR
35,961,687.58
Staff expenses
EUR 5,733,015.62
Wages and salaries
EUR 5,109,148.53
Social security contributions and
expenses for pension plans and
benefits EUR 623,867.09
Total depreciation
EUR 112,895.15
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 112,895.15
Other operating expenses
EUR 5,821,437.55
Operating result from continuing
operations
EUR 24,294,339.26
Interest result (+/-)
EUR 461,268.77
Interest and similar income
EUR 461,442.06
thereof from related companies
EUR 6,958.34
Interest and similar expenses
EUR 173.29
Financial result (+/-)
EUR 461,268.77
Result
from ordinary operations (+/-) EUR 24,755,608.03
Expenses for transfer of profits to a
parent company
EUR 24,737,341.08
Income tax / refund of income tax (+/-)EUR -17,001.24
Other taxes / refund of taxes
EUR -1,265.71
Tax
(+/-)
EUR -18,266.95
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.53 |
|
UK Pound |
1 |
Rs.71.80 |
|
Euro |
1 |
Rs.63.15 |
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 |
|
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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.