MIRA INFORM REPORT

 

 

Report Date :

07.11.2012

 

IDENTIFICATION DETAILS

 

Name :

PALLMANN MASCHINENFABRIK GMBH & CO. KG

 

 

Registered Office :

Wolfslochstr. 51, D 66482 Zweibrücken

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2007

 

 

Year of Establishment :

1899

 

 

Com. Reg. No.:

HRA 1022

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Manufacturer of other general-purpose machinery

 

 

No. of Employees :

399 employees

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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

(31.03.2012)

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

Company name

 

Pallmann Maschinenfabrik GmbH & Co. KG

 

 

Company address

 

Wolfslochstr. 51

D 66482 Zweibrücken

Telephone:        06332/8020

Telefax:             06332/802106

Homepage:        www.pallmann.de

E-mail:               info@pallmann.de

 

 

VAT no.           

 

DE150075104

 

 

Tax ID number

 

 35/200/5480/2

 

 

CONCLUSION

 

 We cannot give an opinion as to the granting of a credit in this particular case. Business relations require suitable securities.

 

 

Synthesis

 

 LEGAL FORM              Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:        1899

 Registered on:              05.03.1972

 Register of

 companies:                  Local court 66482 Zweibrücken

 under:                                      HRA 1022

 Total cap. contribution:  EUR            204,209.98

 

Limited partner

 

Hartmut Pallmann

Wolfslochstr. 51

D 66482 Zweibrücken

born: 25.09.1950

Share:             EUR            204,209.98

 

 

General partner

 

Ludwig-Pallmann-Verwaltungsgesellschaft mit

beschränkter Haftung

Wolfslochstr. 51

D 66482 Zweibrücken

Legal form: Private limited company

Share capital:     EUR             25,564.59

Registered on: 15.09.1971

Reg. data: 66482 Zweibrücken, HRB 1027

 

 

Shareholder

 

Hartmut Pallmann

Wolfslochstr. 51

D 66482 Zweibrücken

born: 25.09.1950

Share:             EUR             25,564.59

 

 

Manager

 

Hartmut Pallmann

Wolfslochstr. 51

D 66482 Zweibrücken

having sole power of representation

born: 25.09.1950

Profession: graduate engineer

Marital status: married

 

Manager:

Dr. Claus Dieter Maack

D 76751 Jockgrim

authorized to jointly represent the company

born: 17.08.1957

Manager:

Dr. Hans Wilhelm Fechner

D 47798 Krefeld

authorized to jointly represent the company

born: 10.01.1954

 

 

Proxy

 

Klaus Peter Ring

D 42651 Solingen

authorized to jointly represent the company

born: 07.05.1955

Profession: Businessman

 

Proxy:

                      Bettina Teuber

                      D 66424 Homburg

                      authorized to jointly represent the company

                      born: 05.11.1964

 Proxy:

                      Peter Roth

                      D 54338 Schweich

                      authorized to jointly represent the company

                      born: 28.06.1957

                      Profession: Businessman

                      Marital status: unknown

 Proxy:

                      Franz Josef Wilbois

                      D 31785 Hameln

                      authorized to jointly represent the company

                      born: 04.03.1956

                      Profession: graduate engineer

                      Marital status: married

 Proxy:

                      Michael Ripplinger

                      D 66740 Saarlouis

                      authorized to jointly represent the company

                      born: 05.06.1960

 Proxy:

                      Uwe Wicht

                      Bonatistr.

                      D 34560 Fritzlar

                      authorized to jointly represent the company

                      born: 05.04.1956

                      Marital status: unknown

 Proxy:

                      Bettina Teuber

                      D 66424 Homburg

                      authorized to jointly represent the company

                      born: 05.11.1964

 Proxy:

                      Steffen Depold

                      D 66424 Homburg

                      authorized to jointly represent the company

                      born: 19.12.1967

 Proxy:

                      Harald Fried

                      D 66953 Pirmasens

                      authorized to jointly represent the company

                      born: 13.04.1960

 Proxy:

                      Andre Krahl

                      D 66482 Zweibrücken

                      authorized to jointly represent the company

                      born: 31.07.1968

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

28290   Manufacture of other general-purpose machinery

 

Secondary industrial sector

28990   Manufacture of other special-purpose machinery n.e.c.

 

 

PARTICIPATIONS

 

Shareholder:

                      MHG Maschinenfabrik Hombak Gesellschaft mit

                      beschränkter Haftung

                      Wolfslochstr. 51

                      D 66482 Zweibrücken

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR          1,533,875.64

                      Share:             EUR          1,533,875.64

                      Reg. data:  15.11.2000

                                  Local court 66482 Zweibrücken

                                  HRB 1716 Z

 

 

FINANCIAL INFORMATION

 

Payment experience:     could not be obtained due to structural changes

Negative information:      We have no negative information at hand.

Balance sheet year:       2007

 

 

REAL ESTATE

 

 Type of ownership:        proprietor

 Share:                          100.00 %

 Address                       Wolfslochstr. 51

                                    D 66482 Zweibrücken

 Value at selling price:     EUR          9,000,000.00

 

 Land register documents were not available.

 

 

BANKERS

 

COMMERZBANK VORMALS DRESDNER BANK, HOMBURG, SAAR

Sort. code: 59080090, BIC: DRESDEFF590

 

SPARKASSE SÜDWESTPFALZ, ZWEIBRÜCKEN, PFALZ

Sort. code: 54250010, BIC: MALADE51SWP

 

DEUTSCHE BANK, PIRMASENS

Sort. code: 54270096, BIC: DEUTDESM542

 

 

FINANCIAL FIGURES

 

 Turnover:            2010               EUR         72,400,000.00

                      2011               EUR         72,400,000.00

 further business figures:

 Equipment:                              EUR          1,600,000.00

 Ac/ts receivable:                       EUR          3,990,000.00

 Liabilities:                            EUR          6,384,000.00

 Real estate of the firm:                EUR          9,000,000.00

 Total numbers of vehicles:                                      8

 Employees:                                                    399

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2007 - 31.12.2007

 Equity ratio [%]:                 -1.66

 Liquidity ratio:                   0.98

 Return on total capital [%]:       2.64

 

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:      01.01.2007 - 31.12.2007

 

 ASSETS                                  EUR         46,109,050.36

  Fixed assets                           EUR          7,772,959.64

   Intangible assets                     EUR            481,609.71

    Concessions, licences, rights        EUR            481,609.71

   Tangible assets                       EUR          6,536,102.53

    Plant / machinery                    EUR          4,716,297.22

    Other tangible assets / fixtures and

    fittings                             EUR          1,819,805.31

   Financial assets                      EUR            755,247.40

    Shares in participations /

    subsidiaries and the like            EUR            755,247.40

     Shares in investee companies        EUR            755,247.40

  Current assets                         EUR         38,020,322.05

   Stocks                                EUR         10,945,554.82

    Raw materials, consumables and

    supplies                             EUR          1,643,198.95

    Finished goods / work in progress    EUR         10,460,291.20

    Advance payments made                EUR            111,504.90

    Minus received advance payments for

    orders / installments for stocks     EUR         -1,269,440.23

   Accounts receivable                   EUR         23,660,124.24

    Amounts due from shareholders        EUR          2,233,638.71

    Trade debtors                        EUR         16,642,512.78

    Amounts due from related companies   EUR          1,570,804.27

    Amounts due from investee companies  EUR          1,812,814.53

    Other debtors and assets             EUR          1,400,353.95

   Liquid means                          EUR          3,414,642.99

  Remaining other assets                 EUR            315,768.67

   Accruals (assets)                     EUR            315,768.67

 

 LIABILITIES                             EUR         46,109,050.36

  Shareholders' equity                   EUR          1,751,673.75

   Capital                               EUR          1,151,673.75

    Capital of the fully liable partner

    (LP, general partnership)            EUR            517,734.16

     Capital contribution of gen.

     partner/accounts of the pers. liable

     shareholder                         EUR            517,734.16

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR            633,939.59

   Reserves                              EUR            600,000.00

  Items between shareholders' equity and

  debt capital                           EUR          4,000,000.00

   Mezzanine financing                   EUR          4,000,000.00

    Contributions of silent partners     EUR          4,000,000.00

  Provisions                             EUR         15,125,895.83

   Pension provisions and comparable

   provisions                            EUR          9,664,679.00

   Provisions for taxes                  EUR            302,416.00

   Other / unspecified provisions        EUR          5,158,800.83

  Liabilities                            EUR         25,231,480.78

   Financial debts                       EUR          3,746,871.00

    Liabilities due to banks             EUR          3,746,871.00

   Other liabilities                     EUR         21,484,609.78

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         11,589,060.03

    Liabilities from received advance

    payments                             EUR          2,014,770.50

    Liabilities due to investee companiesEUR          5,750,208.26

    Unspecified other liabilities        EUR          2,130,570.99

     thereof liabilities from tax /

     financial authorities               EUR            302,021.34

     thereof liabilities from social

     security                            EUR             58,511.48

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         64,969,843.51

  Inventory change + own costs (+/-)     EUR          1,345,603.51

   Inventory change (+/-)                EUR          1,027,301.51

   Capitalised own costs                 EUR            318,302.00

  Other operating income                 EUR            519,298.91

  Cost of materials                      EUR         33,253,101.01

   Raw materials and supplies, purchased

   goods                                 EUR         29,468,756.92

   Purchased services                    EUR          3,784,344.09

  Gross result (+/-)                     EUR         33,581,644.92

  Staff expenses                         EUR         21,534,313.92

   Wages and salaries                    EUR         17,539,033.38

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          3,995,280.54

  Total depreciation                     EUR          1,032,067.53

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,032,067.53

  Other operating expenses               EUR          8,997,072.37

  Operating result from continuing

  operations                             EUR          2,018,191.10

  Interest result (+/-)                  EUR           -554,372.25

   Interest and similar income           EUR            270,033.67

    thereof from related companies       EUR             64,340.68

   Interest and similar expenses         EUR            824,405.92

  Financial result (+/-)                 EUR           -554,372.25

  Result from ordinary operations (+/-)  EUR          1,463,818.85

  Expenses for transfer of profits to a

  parent company                         EUR            485,639.50

  Income tax / refund of income tax (+/-)EUR           -302,416.00

  Other taxes / refund of taxes          EUR             -8,844.77

  Tax (+/-)                              EUR           -311,260.77

  Annual surplus / annual deficit        EUR            666,918.58

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.60

UK Pound

1

Rs.87.31

Euro

1

Rs.69.86

 

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.