MIRA INFORM REPORT
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Report Date : |
08.10.2012 |
IDENTIFICATION DETAILS
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Name : |
FINETECH GMBH & CO. KG |
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Registered Office : |
Wolfener Strasse 32-34 Haus L, Berlin,
12681 |
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Country : |
Germany |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
18.03.1999 |
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Com. Reg. No.: |
29694B |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacture of electronic valves and tubes and other electronic
components |
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No. of Employees : |
49 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
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 |
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
and address
|
FINETECH GmbH & Co. KG |
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Employees: |
49 |
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Company Type: |
Private Subsidiary |
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Corporate Family: |
4 Companies |
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Ultimate Parent: |
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Incorporation Date: |
18-Mar-1999 |
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Fiscal Year End: |
30-Jun-2011 |
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Reporting Currency: |
Euro |
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Annual Sales: |
NA |
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Total Assets: |
10.5 |
Business
Description
|
FINETECH GmbH & Co. KG is primarily
engaged in manufacture of thermionic, cold cathode or photo-cathode valves or
tubes (television picture tubes, television camera tubes, image converters
and intensifiers, microwave tubes, receiver or amplifier valves or tubes,
etc.); manufacture of diodes, transistors and similar semi-conductor devices;
manufacture of photosensitive semi-conductor devices including photo-voltaic
cells such as single solar cells; manufacture of mounted piezo-electric
crystals; manufacture of electronic integrated circuits and micro-assemblies
(monolithic integrated circuits, hybrid integrated circuits and electronic
micro- assemblies of moulded module, micro module or similar types);
manufacture of printed circuits; manufacture of electrical capacitors (or
condensers), including power capacitors; and manufacture of resistors
including rheostats and potentiometers. |
Industry
|
Industry |
Electronic
Instruments and Controls |
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ANZSIC 2006: |
2429 - Other
Electronic Equipment Manufacturing |
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NACE 2002: |
3210 -
Manufacture of electronic valves and tubes and other electronic components |
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NAICS 2002: |
33441 -
Semiconductor and Other Electronic Component Manufacturing |
|
UK SIC 2003: |
3210 -
Manufacture of electronic valves and tubes and other electronic components |
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UK SIC 2007: |
2611 -
Manufacture of electronic components |
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US SIC 1987: |
3679 -
Electronic Components, Not Elsewhere Classified |
Registered
No.(DEU)
29694B
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7347003
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6897265
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Corporate Family |
Corporate Structure News: |
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FINETECH GmbH & Co. KG |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
Source |
|
Parent |
Amberg, Bayern |
Germany |
Commercial Banks |
6 |
D&B |
||
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Subsidiary |
Amberg, Bayern |
Germany |
Scientific and Technical Instruments |
238 |
D&B |
||
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Subsidiary |
Berlin, Berlin |
Germany |
Electronic Instruments and Controls |
49 |
D&B |
||
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Subsidiary |
Weßling, Bayern |
Germany |
Miscellaneous Capital Goods |
30 |
D&B |
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||||
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
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|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.7347 |
0.721483 |
0.731067 |
|
Consolidated |
No |
No |
No |
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Taxes and social security costs |
0.8 |
- |
- |
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Total payroll costs |
5.3 |
- |
- |
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Fixed asset depreciation and amortisation |
0.2 |
- |
- |
|
Other operating costs |
6.2 |
- |
- |
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Net operating income |
3.6 |
- |
- |
|
Interest received from loans |
0.3 |
- |
- |
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Other income |
0.0 |
- |
- |
|
Interest payable on loans |
0.1 |
- |
- |
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Total expenses |
-0.2 |
- |
- |
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Profit before tax |
3.8 |
- |
- |
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Provisions |
1.2 |
0.8 |
0.6 |
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Other taxes |
0.0 |
- |
- |
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Total taxation |
0.5 |
- |
- |
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Net profit |
3.3 |
- |
- |
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Annual Balance Sheet |
|
Financials in:
USD (mil) |
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.689727 |
0.816393 |
0.712936 |
|
Consolidated |
No |
No |
No |
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|
|
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Total stockholders equity |
1.4 |
1.2 |
0.2 |
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Provisions and allowances |
1.3 |
0.7 |
0.6 |
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Taxation and social security |
0.9 |
- |
- |
|
Other current liabilities |
6.9 |
- |
- |
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Total current liabilities |
7.8 |
4.2 |
3.9 |
|
Total liabilities (including net worth) |
10.5 |
6.1 |
4.7 |
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Goodwill |
0.0 |
- |
- |
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Other intangibles |
0.1 |
- |
- |
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Intangibles |
0.1 |
0.1 |
0.1 |
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Land and buildings |
0.0 |
- |
- |
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Machinery and tools |
0.4 |
- |
- |
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Fixtures and equipment |
0.0 |
- |
- |
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Fixed assets under construction |
0.2 |
- |
- |
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Total tangible fixed assets |
0.9 |
0.4 |
0.4 |
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Shares held in associated companies |
2.5 |
- |
- |
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Total financial assets |
2.5 |
2.1 |
0.2 |
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Total non-current assets |
3.5 |
2.6 |
0.7 |
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Net stocks and work in progress |
2.1 |
1.4 |
1.8 |
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Other receivables |
2.3 |
- |
- |
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Total receivables |
2.9 |
1.8 |
1.9 |
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Owing from associated companies |
0.7 |
- |
- |
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Cash and liquid assets |
2.1 |
0.1 |
0.2 |
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Total current assets |
7.0 |
3.4 |
4.0 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
10.5 |
6.1 |
4.7 |
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.689727 |
0.816393 |
0.712936 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
9.01 |
8.16 |
10.15 |
|
Acid test ratio |
6.37 |
4.70 |
5.48 |
|
Total liabilities to net worth |
0.54% |
0.34% |
1.87% |
|
Net worth to total assets |
0.01% |
0.02% |
0.00% |
|
Current liabilities to net worth |
0.54% |
0.34% |
1.87% |
|
Current liabilities to stock |
0.38% |
0.29% |
0.21% |
|
Fixed assets to net worth |
0.24% |
0.22% |
0.34% |
|
Return on assets |
0.03% |
- |
- |
|
Shareholders' return |
0.24% |
- |
- |
|
Profit per employee |
3.34 |
- |
- |
|
Average wage per employee |
5.44 |
- |
- |
|
Net worth |
1.4 |
1.2 |
0.2 |
|
Number of employees |
72 |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.61 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.