|
Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
HESS MASCHINENFABRIK GMBH & CO. KG |
|
|
|
|
Registered Office : |
Freier-Grund-Str. 123 D 57299 Burbach |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
1948 |
|
|
|
|
Reg. No.: |
HRA 5042 |
|
|
|
|
Legal Form : |
Ltd partnership with priv. ltd. company as general partner |
|
|
|
|
Line of Business : |
Manufacture of construction machinery |
|
|
|
|
No. of Employees : |
302 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
|
Source : CIA |
HESS MASCHINENFABRIK GMBH & CO. KG
Company Status: active
Freier-Grund-Str. 123
D 57299 Burbach
Telephone:02736/49760
Telefax: 02736/497620
Homepage: www.hess-maschinenfabrik.de
E-mail: info@hess-Maschinenfabrik.de
VAT no.: DE126573511
Tax ID number: 342/5828/1172
LEGAL FORM Ltd partnership with priv. ltd. company as general partner
Date of foundation: 1948
Registered on: 17.12.1969
Register of
companies: Local court 57072 Siegen
under: HRA 5042
Total cap. contribution: EUR 2,500,000.00
Limited partner:
Walter Hess
Braache 5
D 57299 Burbach
born: 01.11.1948
Share: EUR 1,250,000.00
Limited partner:
Roland Krause
Langenwaldstr. 9
D 57299 Burbach
born: 09.11.1950
Share: EUR 1,250,000.00
General partner:
HESS GmbH
Freier-Grund-Str. 123
D 57299 Burbach
Legal form: Private limited company
Share capital: EUR 1,245,000.00
Registered on: 30.05.1986
Reg. data: 57072 Siegen, HRB 2988
Shareholder:
HESS Maschinenfabrik GmbH & Co. KG
Freier-Grund-Str. 123
D 57299 Burbach
Legal form: Ltd partnership with priv. ltd.
company as general partner
Total cap. EUR 2,500,000.00
contribution:
Share: EUR 1,245,000.00
Registered on: 17.12.1969
Reg. data: 57072 Siegen, HRA 5042
Manager:
Walter Hess
Braache 5
D 57299 Burbach
having sole power of representation
born: 01.11.1948
Profession: Fully qualified management
expert
Manager:
Roland Krause
Langenwaldstr. 9
D 57299 Burbach
having sole power of representation
born: 09.11.1950
Marital status: married
Manager:
Friedrich-Dieter Krombach
Hardenbergstr. 46
D 57072 Siegen
authorized to jointly represent the company
born: 15.12.1962
Marital status: married
Manager:
Tobias Hess
Breslauer Ring 13
D 57290 Neunkirchen
authorized to jointly represent the company
born: 19.06.1976
Marital status: single
Manager:
Ralf Beier
D 48249 Dülmen
authorized to jointly represent the company
born: 30.11.1975
Proxy:
Tobias Hess
Breslauer Ring 13
D 57290 Neunkirchen
authorized to jointly represent the company
born: 19.06.1976
Marital status: single
Proxy:
Paul Sender
D 56283 Halsenbach
authorized to jointly represent the company
born: 05.02.1957
Proxy:
Raphael Resch
D 57299 Burbach
born: 08.02.1956
Main industrial sector
28922 Manufacture of construction machinery
Shareholder:
HESS GmbH
Freier-Grund-Str. 123
D 57299 Burbach
Legal form: Private limited company
Company Status: active
Share capital: EUR 1,245,000.00
Share: EUR 1,245,000.00
Reg. data: 30.05.1986
Local court 57072 Siegen
HRB 2988
Payment experience: within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2010
Type of ownership: proprietor
Share: 100.00 %
Address Freier-Grund-Str. 123
D 57299 Burbach
Value at selling price: EUR 6,000,000.00
Real Estate of: Walter Hess
Type of ownership: proprietor
Share: 100.00 %
Address Breslauer Ring 13
D 57290 Neunkirchen
Real Estate of: Walter Hess
Type of ownership: proprietor
Share: 100.00 %
Address Braache 5
D 57299 Burbach
Real Estate of: Roland Krause
Type of ownership: proprietor
Share: 100.00 %
Address Langenwaldstr. 9
D 57299 Burbach
Land register documents were not available.
Principal bank
COMMERZBANK VORMALS DRESDNER BANK, SIEGEN
Sort. code: 46080010, BIC: DRESDEFF460
Further banks
BHF-BANK, DÜSSELDORF
Sort. code: 30020500, Account no.: 40055691, BIC: BHFBDEFF300
COMMERZBANK, SIEGEN
Sort. code: 46040033, Account no.: 8227100, BIC: COBADEFF460
DEUTSCHE BANK, SIEGEN
Sort. code: 46070090, Account no.: 1614585, BIC: DEUTDEDK460
UNICREDIT BANK - HYPOVEREINSBANK, KÖLN
Sort. code: 37020090, Account no.: 337903410, BIC: HYVEDEMM429
Turnover: 2010 EUR 59,281,145.00
2011 EUR 60,000,000.00
Profit: 2010 EUR -2,108,231.00
further business
figures:
Equipment: EUR 1,199,323.00
Ac/ts
receivable:
EUR 28,992,029.00
Liabilities: EUR 44,217,191.00
Real estate of the
firm: EUR 6,000,000.00
Total numbers of
vehicles:
10
- Passenger
cars:
10
Employees: 302
- thereof permanent
staff: 268
- Trainees:
34
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 1.70
Liquidity ratio: 0.61
Return on total capital [%]: -4.12
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 11.97
Liquidity ratio: 0.70
Return on total capital [%]: -3.79
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 24.22
Liquidity ratio: 1.25
Return on total capital [%]: 10.16
Balance sheet ratios 01.01.2007 - 31.12.2007
Equity ratio [%]: 19.49
Liquidity ratio: 1.15
Return on total capital [%]: 10.07
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 54,203,830.59
Fixed assets EUR 16,495,910.17
Intangible assets EUR 142,316.00
Concessions, licences, rights EUR 142,316.00
Tangible assets EUR 9,349,015.00
Land / similar rights EUR 7,278,635.00
Plant / machinery EUR 444,234.00
Other tangible assets / fixtures and
fittings EUR 1,199,323.00
Advance payments made / construction
in progress EUR 426,823.00
Financial assets EUR 7,004,579.17
Shares in participations /
subsidiaries and the like EUR 1,873,868.92
Shares in related companies EUR 1,873,868.92
Loans to participations /
subsidiaries and the like EUR 5,130,710.25
Loans to related companies EUR 5,130,710.25
Current assets EUR 37,535,871.94
Stocks EUR 8,124,891.62
Raw materials, consumables and
supplies EUR 3,211,862.94
Finished goods / work in progress EUR
10,739,779.17
Advance payments made EUR 436,671.89
Minus received advance payments for
orders / installments for stocks EUR
-6,263,422.38
Accounts receivable EUR 28,992,029.09
Amounts due from shareholders EUR 2,928,068.83
Trade debtors EUR 19,599,519.76
Amounts due from related companies EUR
4,190,521.01
Other debtors and assets EUR 2,273,919.49
Liquid means EUR 418,951.23
Remaining other assets EUR 172,048.48
Accruals (assets) EUR 166,167.53
Other assets EUR 5,880.95
LIABILITIES EUR 54,203,830.59
Shareholders' equity EUR 2,505,670.64
Capital EUR 2,500,000.00
Limited partner's capital / capital
of partially liable partner (LP) EUR 2,500,000.00
Limited partner's capital, fixed
capital, capital account I EUR 2,500,000.00
Reserves EUR 5,670.64
Items between shareholders' equity and
debt capital EUR 1,873,868.92
Balancing items for capitalised own
shares in cos. acting as general
partners EUR 1,873,868.92
Provisions EUR 5,607,100.00
Other / unspecified provisions EUR 5,607,100.00
Liabilities EUR 44,217,191.03
Financial debts EUR 20,569,273.05
Liabilities due to banks EUR 20,569,273.05
Other liabilities EUR 23,647,917.98
Trade creditors (for IAS incl. bills
of exchange) EUR 10,304,275.04
Liabilities due to shareholders EUR 1,362,046.78
Liabililties due to related
companiesEUR 10,992,206.19
Unspecified other liabilities EUR 989,389.97
thereof liabilities from tax /
financial authorities EUR 187,022.01
thereof liabilities from social
security EUR 38,540.57
Guarantees and other commitments EUR 7,572,000.00
Guarantees / warranties EUR 7,572,000.00
Guarantees EUR 7,572,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 59,281,144.53
Inventory change + own costs (+/-) EUR -213,955.44
Inventory change (+/-) EUR -433,345.44
Capitalised own costs EUR 219,390.00
Other operating income EUR 1,522,807.65
Cost of materials EUR 35,730,911.79
Raw materials and supplies, purchased
goods EUR 33,093,044.28
Purchased services EUR 2,637,867.51
Gross result (+/-) EUR 24,859,084.95
Staff expenses EUR 16,166,689.60
Wages and salaries EUR 13,757,697.26
Social security contributions and
expenses for pension plans and
benefits EUR 2,408,992.34
Total depreciation EUR 742,520.73
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 742,520.73
Other operating expenses EUR 12,426,244.66
Operating result from continuing
operations
EUR -4,476,370.04
Result from participating interests
(+/-) EUR 3,000,000.00
Expenses / income from participations
EUR 3,000,000.00
Income from related companies EUR 3,000,000.00
Interest result (+/-) EUR -631,861.24
Interest and similar income EUR 498,995.43
thereof from related companies EUR 266,330.15
Interest and similar expenses EUR 1,130,856.67
thereof paid to related companies EUR 78,461.05
Financial result (+/-) EUR 2,368,138.76
Result from ordinary operations (+/-) EUR
-2,108,231.28
Annual surplus / annual deficit EUR -2,108,231.28
Type of balance
sheet: Company balance sheet
Financial
year: 01.01.2009 - 31.12.2009
ASSETS EUR 50,451,656.96
Fixed assets EUR 16,313,380.95
Intangible assets EUR 206,207.00
Concessions, licences, rights EUR 206,207.00
Tangible assets EUR 9,514,770.00
Land / similar rights EUR 7,561,625.00
Plant / machinery EUR 550,867.00
Other tangible assets / fixtures and
fittings EUR 1,191,258.00
Advance payments made / construction
in progress EUR 211,020.00
Financial assets EUR 6,592,403.95
Shares in participations /
subsidiaries and the like EUR 1,873,868.92
Shares in related companies EUR 1,873,868.92
Loans to participations /
subsidiaries and the like EUR 4,718,535.03
Loans to related companies EUR 4,718,535.03
Current assets EUR 33,981,609.61
Stocks EUR 9,029,782.62
Raw materials, consumables and
supplies EUR 3,661,512.23
Finished goods / work in progress EUR
11,173,124.61
Advance payments made EUR 471,795.76
Minus received advance payments for
orders / installments for stocks EUR
-6,276,649.98
Accounts receivable EUR 24,838,419.78
Amounts due from shareholders EUR 550,279.56
Trade debtors EUR 19,044,621.00
Amounts due from related companies EUR
3,309,606.93
Other debtors and assets EUR 1,933,912.29
Liquid means EUR 113,407.21
Remaining other assets EUR 156,666.40
Accruals (assets) EUR 156,666.40
LIABILITIES EUR 50,451,656.96
Shareholders' equity EUR 4,613,901.92
Capital EUR 2,500,000.00
Limited partner's capital / capital
of partially liable partner (LP) EUR 2,500,000.00
Limited partner's capital, fixed
capital, capital account I EUR 2,500,000.00
Reserves EUR 2,113,901.92
Items between shareholders' equity and
debt capital EUR 1,873,868.92
Balancing items for capitalised own
shares in cos. acting as general
partners EUR 1,873,868.92
Provisions EUR 7,298,500.00
Other / unspecified provisions EUR
7,298,500.00
Liabilities EUR 36,665,386.12
Financial debts EUR 20,019,489.99
Liabilities due to banks EUR 20,019,489.99
Other liabilities EUR 16,645,896.13
Trade creditors (for IAS incl. bills
of exchange) EUR 4,317,559.78
Liabilities due to shareholders EUR 1,997,857.32
Liabililties due to related
companiesEUR 9,290,466.26
Unspecified other liabilities EUR 1,040,012.77
thereof liabilities from tax /
financial authorities EUR 270,910.76
thereof liabilities from social
security EUR 28,259.27
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 64,261,536.90
Inventory change + own costs (+/-) EUR
-3,903,357.37
Inventory change (+/-) EUR -4,114,377.37
Capitalised own costs EUR 211,020.00
Other operating income EUR 1,804,719.48
Cost of materials EUR 36,753,284.07
Raw materials and supplies, purchased
goods EUR 36,284,089.96
Purchased services EUR 469,194.11
Gross result (+/-) EUR 25,409,614.94
Staff expenses EUR 16,479,916.96
Wages and salaries EUR 14,201,043.86
Social security contributions and
expenses for pension plans and
benefits EUR 2,278,873.10
Total depreciation EUR 669,530.67
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 669,530.67
Other operating expenses EUR 10,891,540.41
Operating result from continuing
operations EUR -2,631,373.10
Result from participating interests
(+/-) EUR 1,500,000.00
Expenses / income from participations
EUR 1,500,000.00
Income from related companies EUR 1,500,000.00
Interest result (+/-) EUR -732,444.08
Interest and similar income EUR 225,161.06
thereof from related companies EUR 217,413.65
Interest and similar expenses EUR 957,605.14
thereof paid to related companies EUR 46,645.60
Financial result (+/-) EUR 767,555.92
Result from ordinary operations (+/-) EUR
-1,863,817.18
Income tax / refund of income tax
(+/-)EUR -22,280.90
Tax (+/-) EUR -22,280.90
Annual surplus / annual deficit EUR -1,886,098.08
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
|
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.