MIRA
INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
FIRST SOLAR GMBH |
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Registered Office : |
Rheinstrasse 4B Mainz, 55116 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.06.2003 |
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Com. Reg. No.: |
8855 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of steam generators, except central heating hot water boilers |
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No. of Employees : |
110 |
RATING & COMMENTS
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MIRAs 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 : |
Satisfactory |
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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
First Solar GmbH
Rheinstrasse 4B
Mainz, 55116
Germany
Tel: +49
(0) 6131 14430
Fax: +49 (0) 6131 1443500
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Employees: 110 Company Type: Private
Subsidiary Corporate Family: 4 Companies Ultimate Parent: First Solar,
Inc. Incorporation Date: 20-Jun-2003 |
Financials in: USD (mil)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 1,979.8
Total Assets: 529.8
Business
Description
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First Solar GmbH is primarily engaged in manufacture of steam or other
vapour generators; manufacture of auxiliary plant for use with steam generators
(condensers, economisers, super-heaters, steam collectors and accumulators);
and manufacture of nuclear reactors. This class also includes: pipe system
construction comprising further processing of tubes generally to make
pressure pipes or pipe systems together with the associated design and
construction work. |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
2231 - Boiler, Tank and Other Heavy Gauge
Metal Container Manufacturing |
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NACE 2002: |
2830 - Manufacture of steam generators,
except central heating hot water boilers |
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NAICS 2002: |
333414 - Heating Equipment (except Warm
Air Furnaces) Manufacturing |
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UK SIC 2003: |
2830 - Manufacture of steam generators, except
central heating hot water boilers |
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US SIC 1987: |
3433 - Heating Equipment, Except Electric
and Warm Air Furnaces |
Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News:
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First Solar GmbH
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Corporate Structure News
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First Solar GmbH
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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First Solar, Inc. |
Parent |
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Subsidiary |
Mainz, Rheinland-Pfalz |
Germany |
Miscellaneous Capital Goods |
1,979.8 |
110 |
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Subsidiary |
Mainz, Rheinland-Pfalz |
Germany |
Business Services |
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1 |
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Subsidiary |
Frankfurt (Oder), Brandenburg |
Germany |
Electronic Instruments and Controls |
386.9 |
725 |
Executives Report
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
1,979.8 |
1,949.9 |
1,183.1 |
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Raw materials and services |
1,916.4 |
1,891.1 |
1,131.4 |
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Net sales |
1,979.8 |
1,949.9 |
1,183.1 |
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Other operating income |
46.2 |
31.7 |
1.0 |
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Raw materials and consumables employed |
1,916.4 |
1,891.1 |
1,131.4 |
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Cost of goods sold |
1,916.4 |
1,891.1 |
1,131.4 |
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Cost of raw materials |
1,916.4 |
1,891.1 |
1,131.4 |
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Taxes and social security costs |
1.5 |
1.4 |
0.9 |
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Total payroll costs |
17.4 |
14.8 |
8.4 |
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Fixed asset depreciation and amortisation |
0.5 |
0.4 |
0.2 |
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Other operating costs |
43.8 |
24.8 |
17.0 |
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Net operating income |
69.8 |
63.0 |
35.5 |
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Other income |
0.9 |
0.1 |
0.7 |
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Interest payable on loans |
0.0 |
1.3 |
0.0 |
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Total expenses |
-0.1 |
1.2 |
-0.7 |
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Profit before tax |
69.9 |
61.8 |
36.2 |
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Provisions |
6.8 |
12.2 |
5.9 |
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Other taxes |
- |
- |
0.0 |
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Total taxation |
-0.3 |
2.0 |
0.0 |
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Profit distributed to shareholders |
-70.3 |
-59.9 |
-36.2 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.0 |
0.0 |
0.0 |
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Capital reserves |
74.0 |
35.5 |
- |
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Profits for the year |
6.1 |
6.6 |
6.4 |
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Profit brought forward from previous year(s) |
- |
6.6 |
6.4 |
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Total stockholders equity |
80.2 |
42.1 |
6.4 |
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Deferred taxation |
- |
- |
2.7 |
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Other provisions |
6.8 |
12.5 |
2.9 |
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Provisions and allowances |
6.8 |
12.5 |
5.6 |
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Total long-term liabilities |
0.0 |
- |
- |
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Trade creditors |
0.2 |
0.9 |
0.0 |
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Taxation and social security |
2.4 |
7.0 |
1.0 |
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Due to group companies |
432.4 |
211.3 |
62.6 |
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Total current liabilities |
435.1 |
219.2 |
63.7 |
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Regularisation account |
7.8 |
4.7 |
- |
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Total liabilities (including net worth) |
529.8 |
278.5 |
75.7 |
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Patents |
0.2 |
0.0 |
0.0 |
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Intangibles |
0.2 |
0.0 |
0.0 |
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Fixed assets under construction |
0.7 |
0.4 |
- |
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Total tangible fixed assets |
1.7 |
1.9 |
0.6 |
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Shares held in associated companies |
0.1 |
0.0 |
- |
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Total financial assets |
90.8 |
0.0 |
- |
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Loans to associated companies |
90.8 |
- |
- |
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Total non-current assets |
92.7 |
2.0 |
0.6 |
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Trade debtors |
255.0 |
152.1 |
45.6 |
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Other receivables |
17.2 |
8.8 |
1.4 |
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Total receivables |
327.6 |
204.3 |
68.0 |
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Owing from associated companies |
55.4 |
43.4 |
21.0 |
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Cash and liquid assets |
109.5 |
72.1 |
7.1 |
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Marketable securities |
0.0 |
- |
- |
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Short-term investments |
0.0 |
- |
- |
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Total current assets |
437.1 |
276.4 |
75.1 |
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Prepaid expenses and deferred costs |
0.1 |
0.1 |
0.0 |
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Total assets |
529.8 |
278.5 |
75.7 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
10.05 |
12.61 |
11.79 |
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Acid test ratio |
10.05 |
12.61 |
11.79 |
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Total liabilities to net worth |
0.54% |
0.52% |
0.99% |
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Net worth to total assets |
0.02% |
0.02% |
0.01% |
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Current liabilities to net worth |
0.54% |
0.52% |
0.99% |
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Fixed assets to net worth |
0.12% |
0.00% |
0.01% |
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Collection period |
464.00 |
277.00 |
150.00 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.01% |
0.02% |
0.05% |
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Shareholders' return |
0.09% |
0.15% |
0.54% |
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Sales per employee |
1,371.46 |
1,491.60 |
1,838.26 |
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Profit per employee |
48.68 |
45.78 |
56.22 |
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Average wage per employee |
12.04 |
11.28 |
13.03 |
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Net worth |
80.2 |
42.1 |
6.4 |
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Number of employees |
109 |
94 |
44 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.31 |
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1 |
Rs.79.04 |
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Euro |
1 |
Rs.65.82 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SCs 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.