MIRA
INFORM REPORT
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Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
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Name : |
JUWI HOLDING AG |
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Registered Office : |
Energie-Allee 1 WĂrrstadt, 55286 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
06.12.2005 |
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Com. Reg. No.: |
40163 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Management activities of holding companies |
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No. of Employees : |
592 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
juwi Holding AG
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Business
Description
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juwi Holding AG is primarily engaged in activities of managing holding
companies primarily engaged in holding the securities of (or other equity interests
in) companies and enterprises for the purpose of owning a controlling
interest or influencing management decisions. This class also includes:
activities of head offices, centralised administrative offices and the like
that administer, oversee and manage other units of the company or enterprise
and that normally undertake the strategic or organisational planning and
decision-making role of the company or enterprise. |
Industry
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Industry |
Commercial Banks |
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ANZSIC 2006: |
6240 - Financial Asset Investing |
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NACE 2002: |
7415 - Management activities of holding
companies |
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NAICS 2002: |
551112 - Offices of Other Holding
Companies |
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UK SIC 2003: |
7415 - Management activities of holding
companies |
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US SIC 1987: |
6719 - Offices of Holding Companies, Not
Elsewhere Classified |
Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
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The Strategic Initiatives report is created using technology to extract
meaningful insights from analyst reports about a company's strategic projects
and investments. More
about Strategic Initiatives
Strategic Initiatives
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Key Organizational Changes |
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With the installation of the largest rooftop solar power plant in
Germany we continue our environmental management and contribute to a
reduction of CO2 emissions.”Nov 18, 2010juwi Enters Solar Energy Market In UKjuwi
Holding AG (juwi) has entered the UK market and further intensified its
growing international business activities with the establishment of an office
in Birmingham by the company's subsidiary, juwi Renewable Energies Ltd. In
2011 and 2012, the company said that it will realize solar power plants with
the capacity of more than 60MW.juwi will establish solar power projects in
the UK, predominantly in the south of the country. The company is going to
develop photovoltaic projects mainly self dependent, covering the entire
process - from acquisition of suitable land to the completion of the power
plant. In addition, the company will realize turnkey projects in which the
company acts as the general contractor for the design, engineering and
construction of free field and rooftop solar installations. Lars Falck,
managing director juwi Solar Inc. (juwi Solar) and at the moment managing
director of juwi UK, said: "The UK currently provides excellent
conditions for the solar industry; the country is becoming an attractive
European market. |
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Photovoltaic (PV) projects with a total capacity in excess of 100MW
are scheduled to be installed in the coming years.juwi India Renewable
Energies will realize photovoltaic power projects all over India and the
SAARC (South Asian Association for Regional Cooperation) countries. In the
beginning, these projects will be turnkey projects in which the company acts
as the general contractor for the design, engineering and construction of
free-field and roof-top solar installations. In addition, juwi is going to
develop photovoltaic projects in India, covering the entire process – from
acquisition of suitable land to the completion of the power plant. Rajesh
Bhat, president of the juwi subsidiary in India, said: "India currently
provides excellent conditions for the solar industry and the country has the
most attractive market in all of Asia. As one of the leading developers,
juwi’s opportunities there are outstanding. |
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Corporate Structure News
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juwi Holding AG |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Wörrstadt, Rheinland-Pfalz |
Germany |
Commercial Banks |
784.4 |
592 |
|
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Subsidiary |
Wörrstadt |
Germany |
Semiconductors |
571.4 |
120 |
|
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Subsidiary |
Wörrstadt, Rheinland-Pfalz |
Germany |
Construction Services |
30.5 |
90 |
|
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Subsidiary |
Verona, Verona |
Italy |
Construction Services |
|
35 |
|
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Subsidiary |
Honfleur |
France |
Miscellaneous Financial Services |
|
34 |
Executives Report
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UK Foresight Group,
Italian VEI Capital form JV for investment in solar power
ADP Renewable Energy Track: 28 June 2011
[What follows is the full text of the news story.]
(ADPnews) - Jun
28, 2011 - UK private equity firm Foresight Group and Italian sector player VEI
Capital, managed by Palladiofinanziaria Spa, have formed a joint venture to
invest in solar power, solar market researcher Solarbuzz reported on its
website yesterday.
The co-investment
vehicle will be 40%-owned by Foresight and 60% by VEI, and will target
investment expansion into other renewable assets. Foresight will be also an
advisor and manager of the entity's solar assets.
The partnership's
first investment includes a 3.34 MW solar plant built by Juwi Energie
Rinnovabili, the Italian unit of German green energy producer Juwi Holding AG,
and a 4.7 MW solar plant. Both plants are located in Italy, connected to the
grid and operational.
Foresight's other
solar funds have by now invested in some GBP 150 million (USD 239.5m/EUR
167.4m) of operating photovoltaic (PV) assets in Italy and Spain, according to
the website.
(GBP 1.0 = USD
1.597/EUR 1.116)
Foresight Group
closes financing for 1.7 MW solar plant in Italy
ADP Renewable Energy Track: 18 January 2011
[What follows is the full text of the news story.]
(ADPnews) - Jan
18, 2011 - UK alternative asset manager Foresight Group said on Monday it has closed
construction financing for a 1.7 MW solar plant in Italy's Marche region.
Debt funding for
the project was obtained from Italian bank UBI Banca (BIT:UBI), Foresight said
without disclosing the amount.
The plant's
developers are Juwi Energie Rinnovabili Srl, which is the Italian unit of
German green energy producer Juwi Holding AG, and solar products provider
Canadian Solar (NASDAQ:CSIQ).
The plant's
construction is expected to finish by March 31 so that it is eligible for the
2011 Italian feed-in tariff for projects connected to the grid before April 30,
2011.
According to
Foresight, this is its second deal with Juwi. "Construction on our first
2.7 MW plant with Juwi back in September 2010 is almost complete well ahead of
schedule," Foresight partner and technical director Pietro Zerauschek
said.
Annual Profit & Loss
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
Yes |
Yes |
Yes |
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Total income |
784.4 |
573.7 |
209.3 |
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Raw materials and services |
- |
410.1 |
- |
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Net sales |
784.4 |
573.7 |
209.3 |
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Change in stock |
3.8 |
-20.1 |
52.3 |
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Own work capitalised |
3.1 |
3.5 |
6.9 |
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Other operating income |
4.8 |
1.0 |
1.5 |
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Raw materials and consumables employed |
- |
410.1 |
- |
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Other external charges |
- |
45.6 |
- |
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Cost of goods sold |
639.1 |
455.7 |
232.7 |
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Cost of raw materials |
639.1 |
455.7 |
232.7 |
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Taxes and social security costs |
- |
4.0 |
- |
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Total payroll costs |
55.7 |
31.1 |
14.7 |
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Fixed asset depreciation and amortisation |
3.0 |
3.0 |
1.7 |
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Other operating costs |
71.7 |
37.5 |
18.3 |
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Net operating income |
62.4 |
49.6 |
11.7 |
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Interest received from loans |
- |
0.0 |
0.0 |
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Other income |
2.8 |
1.2 |
0.6 |
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Interest payable on loans |
3.8 |
5.8 |
2.5 |
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Other expenses |
- |
0.0 |
0.0 |
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Total expenses |
1.4 |
4.9 |
2.3 |
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Profit before tax |
61.0 |
44.7 |
9.4 |
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Provisions |
39.3 |
27.5 |
11.8 |
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Other taxes |
0.1 |
0.0 |
0.0 |
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Total taxation |
23.2 |
17.9 |
4.6 |
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Net profit |
37.7 |
26.7 |
4.8 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
Yes |
Yes |
Yes |
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Issued capital |
3.3 |
3.2 |
3.4 |
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Legal reserves |
0.2 |
0.2 |
0.2 |
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Unavailable reserves |
- |
1.4 |
1.5 |
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Other reserves |
-1.5 |
- |
- |
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Total reserves |
-1.3 |
0.2 |
0.2 |
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Profits for the year |
70.6 |
30.7 |
7.1 |
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Profit brought forward from previous year(s) |
- |
6.7 |
2.6 |
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Total stockholders equity |
74.0 |
33.1 |
9.3 |
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Minority interests |
0.0 |
0.0 |
- |
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Deferred taxation |
11.0 |
14.5 |
6.4 |
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Other provisions |
29.1 |
11.4 |
6.1 |
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Provision for pensions |
0.2 |
0.2 |
0.1 |
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Provisions and allowances |
40.5 |
26.1 |
12.6 |
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Other debentures |
19.1 |
22.8 |
10.9 |
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Taxes and social security |
0.1 |
- |
- |
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Total long-term liabilities |
19.3 |
22.8 |
10.9 |
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Trade creditors |
69.9 |
29.8 |
8.6 |
|
Other loans |
5.9 |
27.0 |
19.3 |
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Taxation and social security |
29.0 |
28.3 |
10.6 |
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Other current liabilities |
0.2 |
0.4 |
- |
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Owing to participants |
0.9 |
- |
0.0 |
|
Total current liabilities |
105.9 |
85.6 |
38.6 |
|
Regularisation account |
0.0 |
0.0 |
0.0 |
|
Total liabilities (including net worth) |
239.7 |
169.0 |
72.9 |
|
Organisational expenses |
- |
0.9 |
1.6 |
|
Patents |
0.5 |
0.3 |
0.3 |
|
Goodwill |
2.0 |
2.2 |
0.1 |
|
Intangibles |
2.5 |
2.4 |
0.4 |
|
Land and buildings |
0.2 |
0.2 |
0.4 |
|
Machinery and tools |
15.4 |
11.7 |
9.0 |
|
Fixtures and equipment |
0.2 |
0.2 |
0.4 |
|
Fixed assets under construction |
0.3 |
0.0 |
0.5 |
|
Total tangible fixed assets |
21.8 |
16.7 |
11.1 |
|
Long-term investments |
0.6 |
- |
- |
|
Other financial assets |
1.3 |
- |
- |
|
Participating interest |
- |
0.0 |
0.0 |
|
Deposits |
0.1 |
0.1 |
0.1 |
|
Total financial assets |
11.3 |
7.8 |
7.1 |
|
Loans to participants |
8.4 |
7.1 |
6.3 |
|
Total non-current assets |
35.7 |
27.9 |
20.2 |
|
Work in progress |
80.1 |
69.1 |
1.0 |
|
Finished goods |
40.8 |
18.0 |
9.1 |
|
Prepayments |
13.8 |
9.2 |
10.5 |
|
Net stocks and work in progress |
44.4 |
63.1 |
20.6 |
|
Trade debtors |
42.8 |
35.9 |
5.5 |
|
Other receivables |
46.8 |
19.9 |
8.1 |
|
Total receivables |
94.5 |
59.7 |
14.6 |
|
Owing from participants |
4.9 |
3.9 |
1.0 |
|
Cash and liquid assets |
61.1 |
16.8 |
17.0 |
|
Marketable securities |
0.4 |
0.1 |
0.1 |
|
Short-term investments |
0.4 |
0.1 |
0.1 |
|
Shares in associated companies |
0.9 |
0.5 |
0.7 |
|
Recoverable taxation |
1.1 |
- |
- |
|
Total current assets |
200.4 |
139.7 |
52.3 |
|
Prepaid expenses and deferred costs |
2.6 |
1.5 |
0.4 |
|
Total assets |
239.7 |
169.0 |
72.9 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Current ratio |
18.92 |
16.32 |
13.57 |
|
Acid test ratio |
14.72 |
8.95 |
8.23 |
|
Total liabilities to net worth |
0.17% |
0.33% |
0.53% |
|
Net worth to total assets |
0.03% |
0.02% |
0.01% |
|
Current liabilities to net worth |
0.14% |
0.26% |
0.41% |
|
Current liabilities to stock |
0.24% |
0.14% |
0.19% |
|
Fixed assets to net worth |
0.05% |
0.08% |
0.22% |
|
Collection period |
193.00 |
241.00 |
91.00 |
|
Stock turnover rate |
0.55 |
1.16 |
0.92 |
|
Profit margin |
0.00% |
0.00% |
0.00% |
|
Return on assets |
0.02% |
0.02% |
0.01% |
|
Shareholders' return |
0.05% |
0.08% |
0.05% |
|
Sales per employee |
95.28 |
107.17 |
70.47 |
|
Profit per employee |
4.58 |
5.00 |
1.61 |
|
Average wage per employee |
6.77 |
5.82 |
4.96 |
|
Net worth |
74.0 |
33.1 |
9.3 |
|
Number of employees |
592 |
366 |
217 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.57 |
|
|
1 |
Rs.79.57 |
|
Euro |
1 |
Rs.66.50 |
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.