MIRA INFORM REPORT

Report Date :

02.11.2012

IDENTIFICATION DETAILS

Correct Name :	XXXLUTZ KG
Registered Office :
Country :	Austria
Financials (as on) :
Year of Establishment :	1945
Com. Reg. No.:
Legal Form :	Limited Liability Partnership
Line of Business :	Retail sale of household furniture in specialised stores
No. of Employees :

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 :	Good
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
Austria

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

austria - ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.9% in 2009 but saw positive growth of about 2% in 2010 and 3% in 2011. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.7% in 2010 and 3.6% in 2011, from only about 1.3% in 2008. The international financial crisis of 2008 caused difficulties for Austria''s largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria''s fiscal position compares favorably with other euro-zone countries, but it faces considerable external risks, such as Austrian banks'' continued high exposure to central and eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity budget that will bring public finances into balance by 2016.

Source : CIA

Basic company information

Last up-date:	2012-10-30
Company name:	XXXLutz KG
Status:	active company
Locations:	Römerstraße  39, A-4600 Wels
Phone:	0043 (0) 050 111 - 1000
Internet:	http://www.xxxlutz.at
Activities:	Önace 47592 85% Retail sale of household furniture in specialised stores
	Önace 56101 15% Restaurants
General Assessment:	Model: CompanyScore
Probability of Default (Basel II):	0,12% Very low risk
comparison:	The Rating of this company is better than industry average.
Recommendation:	In respect to solvency reasons, there is nothing to say against an establishment of a business relationship.
Detail Assessment:	Payment 200 Payments are made according to conditions within agreed terms, using cash discounts.
	Assessment 200 Financial situation is good.

Collections

Date of collection order	Amount presently due	Amount presently paid	Collection status quo	since
2010-05-05	EUR 0,00	EUR 561,64	payment due to KSV intervention	2010-07-13
Sums	EUR  0,00	EUR  561,64

Additional company information

Year of incorporation:	1945
Type of company:	Wholesale and retail trade; repair of motor vehicles
Legal form:	limited liability partnership since 2009-11-19
companies' house number:	FN 336561 v Wels 2009-12-02
Activities:
VAT number:	ATU 65296645
number - Austrian National Bank:	9565779
Import		Country
Import		European Union	2012

Financial data

total turnover (total sales)	2011		(no figures known)
turnover (sales) - group	2011	EUR  2.800.000.000,00	(approx.)
total employees	2012		(no figures known)

Extraxt from the Companies' House

firm (style):

1 XXXLutz KG

legal form:

1 Kommanditgesellschaft

registered office:

1 politischer Gemeinde Wels

business address:

1 Römerstraße 39
4600 Wels
1 Gesellschaftsvertrag vom 19.11.2009 001
1 Umwandlungsvertrag vom 19.11.2009 002
1 Die Gesellschaft ist durch Umwandlung 003
gemäß §§ 1 ff UmwG aus der
Lutz Service GmbH
(FN 211978 h)
hervorgegangen.

general partner:

A XXXLutz Verwaltungs GmbH
1 vertritt seit 02.12.2009 selbständig
B Julia Fronik, geb. 11.06.1981
2 vertritt seit 01.07.2010 gemeinsam mit
einem weiteren unbeschränkt haftenden Gesellschafter

limited partner:

C WSF Privatstiftung
1 .............................................. EUR 25.000.000
E LSW GmbH
3 .............................................. EUR 25.000.000
3 Rechtsnachfolge nach 001
LSW Privatstiftung
(FN 137289 x)
hinsichtlich eines Betrages von EUR 25.000.000,--

general table:

Landesgericht Wels
1 eingetragen am 02.12.2009 Geschäftsfall 27 Fr 3720/09 a
Antrag auf Neueintragung einer Firma eingelangt am 23.11.2009
2 eingetragen am 09.07.2010 Geschäftsfall 27 Fr 2019/10 h
Antrag auf Änderung eingelangt am 07.07.2010
3 eingetragen am 06.01.2011 Geschäftsfall 27 Fr 4171/10 y
Antrag auf Änderung eingelangt am 27.12.2010

Real estate

Real estate text:

No real estate property registered

Private data

Surname	Date of birth	Address	Executive positions	Further executive positions (as registered in the companies' house)
Julia Fronik	1981-06-11	3730 Eggenburg Leinwandbleiche 4	general partner	0

Locations

Type	Locations	Description
operational	Römerstraße  39, A-4600 Wels	registered office
operational	Römerstraße  39, A-4600 Wels	registered headquarters, rented premises

related companies

Company name	Postal code	Stake in %		Companies House
Shares in this company are held by:
WSF Privatstiftung	Römerstraße  39, A-4600 Wels	2009-12-02		FN 137292 a
LSW GmbH	Römerstraße  39, A-4600 Wels	2011-01-06		FN 272503 s
XXXLutz Verwaltungs GmbH	Römerstraße  39, A-4600 Wels	2009-12-02		FN 335101 x
1 XXXLutz Verwaltungs GmbH
1 Gesellschaft mit beschränkter Haftung
1 EUR 35.000
1 Die Gesellschaft wird, wenn mehrere Geschäftsführer bestellt sind, durch zwei Geschäftsführer gemeinsam oder durch einen von ihnen gemeinsam mit einem Prokuristen vertreten, soferne die Generalversammlung nicht einzelnen Geschäftsführern Alleinvertretungsmacht einräumt. 1 Gesellschaftsvertrag vom 16.10.2009 001 4 Generalversammlungsbeschluss vom 15.03.2011 002 Änderung des Gesellschaftsvertrages im Punkt Achtens. 6 Generalversammlungsbeschluss vom 26.04.2012 003 Änderung des Gesellschaftsvertrages in Punkt Fünftens. 6 Generalversammlungsbeschluss vom 26.04.2012 004 Änderung des Gesellschaftsvertrages in Punkt Sechstens.
E Mag. Roland Werner, geb. 27.06.1973 1 vertritt seit 28.10.2009 gemeinsam mit dem Geschäftsführer Dr. Richard Seifert oder dem Geschäftsführer Dr. Andreas Seifert G Mag. Christine Klambauer, geb. 10.05.1963 2 vertritt seit 10.03.2010 gemeinsam mit dem Geschäftsführer Dr. Richard Seifert oder dem Geschäftsführer Dr. Andreas Seifert H Mag. Stefan Haslinger, geb. 08.07.1973 2 vertritt seit 10.03.2010 gemeinsam mit dem Geschäftsführer Dr. Richard Seifert oder dem Geschäftsführer Dr. Andreas Seifert
C Dr. Richard Seifert, geb. 08.12.1949 1 vertritt seit 28.10.2009 gemeinsam mit einem weiteren Geschäftsführer oder einem Prokuristen D Dr. Andreas Seifert, geb. 24.10.1954 1 vertritt seit 28.10.2009 gemeinsam mit einem weiteren Geschäftsführer oder einem Prokuristen F Walter Kaltenecker, geb. 19.08.1955 2 vertritt seit 10.03.2010 gemeinsam mit dem Geschäftsführer Dr. Richard Seifert oder dem Geschäftsführer Dr. Andreas Seifert
A WSF Privatstiftung 1 ..................... EUR 17.500 1 ................................................ EUR 17.500 B LSW Privatstiftung 1 ..................... EUR 17.500 1 ................................................ EUR 17.500 ------------------------------------------------------ Summen: EUR 35.000 EUR 35.000
This company holds 100% of the shares in:
RAKS Service GmbH	Römerstraße  39, A-4600 Wels	100 % 2011-09-06	7.066.817	FN 367634 p
This company holds 50% to 99% of the shares in:
RAS Beteiligungs GmbH	Kelsenstraße  9, A-1030 Wien	99.5 % 2011-03-22	3.188	FN 94005 v
RAS Beteiligungs GmbH	Kelsenstraße  9, A-1030 Wien	99.5 % 2011-03-22	3.188	FN 94005 v
Affiliated companies and further participations:
RAS Beteiligungs GmbH	Kelsenstraße  9, A-1030 Wien		3.188	FN 94005 v
XXXLutz-IMSE GmbH	Römerstraße  39, A-4600 Wels		61.124	FN 92165 m
ARS-Immobilien GmbH	Römerstraße  39, A-4600 Wels		104.641	FN 64635 b
ARL-Leasing GmbH	Römerstraße  39, A-4600 Wels		468.067	FN 99902 s
RS Holding GmbH	Römerstraße  39, A-4600 Wels		716.109	FN 137371 t
XLCEE-Holding GmbH	Römerstraße  39, A-4600 Wels		1.341.350	FN 246864 k
XXXLutz-AT GmbH	Römerstraße  39, A-4600 Wels		1.385.647	FN 256478 z
XLD-Holding GmbH	Römerstraße  39, A-4600 Wels		1.385.651	FN 256502 i
AWF Immobilien GmbH	Römerstraße  39, A-4600 Wels		1.437.089	FN 265145 w
XLCZ-Holding GmbH	Römerstraße  39, A-4600 Wels		1.526.817	FN 286695 k
XXXLutz Marken GmbH	Römerstraße  39, A-4600 Wels		1.546.755	FN 291495 w
Möbelix GmbH	Römerstraße  39, A-4600 Wels		1.583.428	FN 300975 k
Mömax GmbH	Römerstraße  39, A-4600 Wels		1.583.429	FN 300976 m
XXXLutz Logistik GmbH	Römerstraße  39, A-4600 Wels		1.658.766	FN 323564 f
XXXL Einkaufsverwaltungs GmbH	Römerstraße  39, A-4600 Wels		7.028.381	FN 359076 d

Bankers

Banker	Bank sort code	Type of banking connection
UniCredit Bank Austria AG, 4601 Wels	11000	main bank connection
Oberbank AG, 4600 Wels	15000	main bank connection

Historical development

Year of incorporation:	1945
Date of registration:	2009-12-02

Former shareholders:
From	To	Function	Name
2009-12-02	2011-01-06	limited partner	LSW Privatstiftung

Mergers:
Date	Function	Name
2009-12-02	merged with	Lutz Service GmbH

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.79
UK Pound	1	Rs.86.77
Euro	1	Rs.69.71

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.