|
Report Date : |
22.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MASDAR PV GMBH |
|
|
|
|
Registered Office : |
Wolff-Knippenberg-Str. 4, D 99334 Ichtershausen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
17.03.2008 |
|
|
|
|
Com. Reg. No.: |
HRB 502671 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of solar cells and modules |
|
|
|
|
No. of Employees : |
194 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Poor |
|
Payment Behaviour : |
Slow |
|
Litigation : |
--- |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Masdar PV GmbH
Wolff-Knippenberg-Str. 4
D 99334 Ichtershausen
Telephone: 03628/5868-0
Telefax: 03628/5868-150
Homepage: www.masdarpv.com
E-mail: info@masdarpv.com
DE260397782
151/114/08359
LEGAL FORM Private limited company
Date of foundation: 17.03.2008
Shareholders'
agreement: 17.03.2008
Registered on: 27.05.2008
Commercial Register: Local court
07745 Jena
under: HRB 502671
Share capital:
EUR 25,000.00
Abu Dhabi Future Energy Company PJSC
P.O. Box 45005
UAE Abu Dhabi
Legal form: Other legal form
Share: EUR 25,000.00
Trinh Ho Ty
UAE Abu Dhabi
having sole power of representation
born: 02.12.1948
Nationality: Emirati
25.03.2008 - 27.05.2008 Mainsee
566. V V GmbH
Mainzer Landstr. 47
D 60329
Frankfurt
Private
limited company
27.05.2008 - 27.06.2008 Masdar PV
GmbH
Mainzerhofstr. 12
D 99084
Erfurt
Private limited company
27.06.2008 - 23.10.2009 Masdar PV
GmbH
Maximilian-Welsch-Str. 2a
D 99084
Erfurt
Private
limited company
RESIGNED ACTING PERSONS
AND SHAREHOLDERS
15.02.2011 - 25.05.2011 Manager
Dale
Rollins
UAE Abu
Dhabi
07.05.2010 - 03.02.2011 Manager
Frank
Wouters
UAE Abu
Dhabi
27.02.2009 - 29.04.2010 Manager
Joachim
Nell
D 99084
Erfurt
02.06.2008 - 29.04.2010 Manager
Dr.
Rainer Gegenwart
D 99084
Erfurt
Main industrial
sector
26111 Manufacture of solar cells
and modules
Secondary
industrial sector
7112 Engineering activities
Shareholder:
MPV Solarpark
1 GmbH
Friemarer
Str. 38
D 99867 Gotha
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 21.10.2011
Local court 07745 Jena
HRB 507227
Payment experience: without
complaints
Negative information: We have no
negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Wolff-Knippenberg-Str. 4
D 99334 Ichtershausen
Land register documents were not available.
DEUTSCHE BANK, ERFURT
Sort. code: 82070000, Account no.: 137525200, BIC: DEUTDE8EXXX
Turnover:
2010 EUR 20,912,697.00
Profit:
2010 EUR -28,204,457.00
Equipment: EUR
7,025,856.00
Ac/ts receivable: EUR 2,282,106.00
Liabilities: EUR 14,101,707.00
Employees:
194
- thereof permanent staff:
191
- Trainees:
1
- Temporary workers: 2
BALANCE SHEETS
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]:
-33.19
Liquidity ratio: 0.30
Return on total capital [%]:
-23.01
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:
01.01.2010 - 31.12.2010
ASSETS EUR 163,289,128.44
Fixed assets EUR
107,345,099.23
Intangible assets EUR 654,498.67
Concessions, licences,
rights EUR 654,498.67
Tangible assets EUR 106,690,600.56
Land / similar
rights EUR 21,555,562.53
Plant / machinery EUR 76,116,759.93
Other tangible assets /
fixtures and
fittings EUR 7,025,856.34
Advance payments made /
construction
in progress EUR 1,992,421.76
Current assets EUR 15,507,970.66
Stocks EUR 6,721,840.53
Raw materials,
consumables and
supplies EUR 1,745,010.41
Finished goods / work
in progress EUR 4,961,797.46
Advance payments
made EUR 15,032.66
Accounts receivable EUR 2,282,106.61
Trade debtors EUR 534,425.29
Amounts due from
related companies EUR 372,360.36
Other debtors and
assets EUR 1,375,320.96
Liquid means EUR 6,504,023.52
Remaining other
assets EUR 40,436,058.55
Accruals (assets) EUR 68,777.13
Deficit not covered by
shareholders'
equity EUR 40,367,281.42
LIABILITIES
EUR 163,289,128.44
Shareholders' equity EUR 0.00
Capital EUR 25,000.00
Subscribed capital
(share capital) EUR 25,000.00
Balance sheet profit/loss
(+/-) EUR -40,392,281.42
Profit / loss brought
forward EUR -12,187,824.17
Annual surplus / annual
deficit EUR -28,204,457.25
Other shareholders'
equity (+/-) EUR 40,367,281.42
Deficit not covered by
shareholders'
equity EUR 40,367,281.42
Items between
shareholders' equity and
debt capital EUR 146,505,046.06
Allowances /
bonuses EUR 5,350,466.56
Mezzanine financing EUR 141,154,579.50
Subordinated loans EUR 141,154,579.50
Provisions EUR 2,682,375.00
Liabilities EUR 14,101,707.38
Other liabilities EUR 14,101,707.38
Trade creditors (for
IAS incl. bills
of exchange) EUR 5,986,826.17
Liabilities from
received advance
payments EUR 206,726.23
Liabililties due to
related companiesEUR
7,836,154.38
Unspecified other
liabilities EUR 72,000.60
PROFIT AND LOSS ACCOUNT (cost of sales method) according to
Comm.
Code (HGB)
Sales EUR 20,912,697.19
Manufacturing costs EUR 35,004,609.33
Gross result on
sales EUR -14,091,912.14
Research and development
costs EUR 2,619,153.90
Other operating
income EUR 743,863.23
Other operating
expenses EUR 8,987,865.09
Operating result from
continuing
operations EUR -24,955,067.90
Interest result
(+/-) EUR -3,244,227.23
Interest and similar
income EUR 5,063.85
Interest and similar
expenses EUR 3,249,291.08
Financial result
(+/-) EUR -3,244,227.23
Result from ordinary
operations (+/-) EUR -28,199,295.13
Other taxes / refund of
taxes EUR -5,162.12
Tax (+/-) EUR -5,162.12
Annual surplus / annual
deficit EUR -28,204,457.25
Inconsistent balance sheets:
Financial year published on
01.01.2009 - 31.12.2009 02.11.2010
17.03.2008 - 31.12.2008 25.10.2010
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.54 |
|
UK Pound |
1 |
Rs.87.39 |
|
Euro |
1 |
Rs.68.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.