MIRA INFORM REPORT
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Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MKM MANSFELDER KUPFER UND MESSING GMBH |
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Registered Office : |
Lichtlocherberg 40, Hettstedt, 06333 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1909 |
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Com. Reg. No.: |
207208 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Subject is engaged in production of chrome, manganese, nickel, etc., from ores or oxides; production of chrome, manganese, nickel, etc., from electrolytic and aluminothermic refining of chrome, manganese, nickel, etc., waste and scrap; production of chrome, manganese, nickel, etc., alloys; and semi-manufacturing of chrome, manganese, nickel, etc. This class also includes: production of mattes of nickel |
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No. of Employees : |
1063 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 |
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 & address
MKM Mansfelder Kupfer und Messing GmbH
LichtlOcherberg 40
Hettstedt, 06333
Germany
Tel: (49) 3476890
Fax: 49 (3476) 81 24 76
Web: www.mkm-hett.de
Registration
data
Employees: 1,063
Company Type: Private Subsidiary
Corporate Family: 15
Companies
Ultimate Parent: Kazakhmys plc
Incorporation Date: 1909
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 1,385.4
Total Assets: 473.4
Business
Description
MKM Mansfelder Kupfer und Messing GmbH is primarily engaged in production of chrome, manganese, nickel, etc., from ores or oxides; production of chrome, manganese, nickel, etc., from electrolytic and aluminothermic refining of chrome, manganese, nickel, etc., waste and scrap; production of chrome, manganese, nickel, etc., alloys; and semi-manufacturing of chrome, manganese, nickel, etc. This class also includes: production of mattes of nickel.
Industry
Industry Miscellaneous Fabricated Products
ANZSIC 2006: 2141 - Non-Ferrous
Metal Casting
NACE 2002: 2754 - Casting of
other non-ferrous metals
NAICS 2002: 331525 - Copper
Foundries (except Die-Casting)
UK SIC 2003: 2754 - Casting of
other non-ferrous metals
US SIC 1987: 3366 - Copper
Foundries
Key
Executives
|
Name |
Title |
|
Friedrich Flemming |
Managing Director |
|
Uwe Vogler |
Director-Finance & Logistics |
|
Andreas Maerten |
Manager-Sales |
|
Zviad Shelia |
Plant Director |
|
Doris Hauk |
Leiterin-Personal |
Registered No.(DEU): 207208
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate
Overview
Location
Lichtlocherberg 40
Hettstedt, 06333
Germany
Tel: (49) 3476890
Fax: 49 (3476) 81 24 76
Web: www.mkm-hett.de
Sales EUR(mil): 1,046.1
Assets EUR(mil): 352.9
Employees: 1,063
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Fabricated Products
Incorporation Date: 1909
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(DEU): 207208
Chairman of the board of directors: Matthew
Hird
Contents
Industry Codes
Business Description
Financial Data
Subsidiaries
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2149 - Other Basic Non-Ferrous Metal Product Manufacturing
2141 - Non-Ferrous Metal Casting
2133 - Copper, Silver, Lead and Zinc Smelting and Refining
NACE 2002 Codes:
2744 - Copper production
2754 - Casting of other non-ferrous metals
NAICS 2002 Codes:
331421 - Copper Rolling, Drawing, and Extruding
331525 - Copper Foundries (except Die-Casting)
331512 - Steel Investment Foundries
US SIC 1987:
3331 - Primary Smelting and Refining of Copper
3351 - Rolling, Drawing, and Extruding of Copper
3366 - Copper Foundries
UK SIC 2003:
2754 - Casting of other non-ferrous metals
2744 - Copper production
Business
Description
Manufacture of copper and copper products
More Business
Descriptions
Copper & Copper Alloy Products Mfr
MKM Mansfelder Kupfer und Messing GmbH is primarily engaged in production of chrome, manganese, nickel, etc., from ores or oxides; production of chrome, manganese, nickel, etc., from electrolytic and aluminothermic refining of chrome, manganese, nickel, etc., waste and scrap; production of chrome, manganese, nickel, etc., alloys; and semi-manufacturing of chrome, manganese, nickel, etc. This class also includes: production of mattes of nickel.
Other Metal Ore Mining
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Corporate
Family |
Corporate
Structure News: |
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Kazakhmys plc |
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MKM Mansfelder Kupfer und Messing GmbH |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
London |
United Kingdom |
Metal Mining |
3,563.0 |
59,249 |
|
|
Subsidiary |
Almaty |
Kazakhstan |
Metal Mining |
3,237.0 |
60,970 |
|
|
Subsidiary |
Ekibastuz, Pavlodar District |
Kazakhstan |
Electric Utilities |
339.1 |
1,900 |
|
|
Subsidiary |
Hettstedt, Sachsen-Anhalt |
Germany |
Miscellaneous Fabricated Products |
1,385.4 |
1,060 |
|
|
Subsidiary |
Rovigo, Rovigo |
Italy |
Metal Mining |
4 |
||
|
Subsidiary |
Pittsburgh, PA |
United States |
Metal Mining |
1 |
||
|
Subsidiary |
Roncq |
France |
Miscellaneous Capital Goods |
|||
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Subsidiary |
London |
United Kingdom |
Business Services |
340 |
||
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Subsidiary |
London |
United Kingdom |
Nonclassifiable Industries |
|||
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Subsidiary |
Ashbourne |
United Kingdom |
Personal and Household Products |
0.4 |
4 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Capital Goods |
3,141.0 |
||
|
Subsidiary |
London |
United Kingdom |
Commercial Banks |
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Subsidiary |
London |
United Kingdom |
Business Services |
|||
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Subsidiary |
London |
United Kingdom |
Commercial Banks |
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Subsidiary |
London |
United Kingdom |
Commercial Banks |
Executive
report
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Board of
Directors |
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Chairman of the board of directors |
Chairman |
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Member of the board of directors |
Director/Board Member |
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Member of the board of directors |
Director/Board Member |
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Member of the board of directors |
Director/Board Member |
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Executives |
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Managing Director |
Managing Director |
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Director-Finance & Logistics |
Finance Executive |
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Leiterin-Personal |
Human Resources Executive |
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Manager-Sales |
Sales Executive |
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Leiter-Presse |
Public Relations Executive |
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Plant Director |
Manufacturing Executive |
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Executive |
Other |
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Executive |
Other |
Annual Profit & Loss
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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|
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Total income |
1,385.4 |
1,028.5 |
1,685.1 |
|
Raw materials and services |
1,259.3 |
937.7 |
1,516.2 |
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Net sales |
1,385.4 |
1,028.5 |
1,685.1 |
|
Change in stock |
18.0 |
28.9 |
-6.3 |
|
Own work capitalised |
0.2 |
- |
- |
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Other operating income |
25.8 |
20.5 |
30.7 |
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Raw materials and consumables employed |
1,259.3 |
937.7 |
1,516.2 |
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Other external charges |
6.5 |
4.9 |
8.4 |
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Cost of goods sold |
1,265.8 |
942.6 |
1,524.7 |
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Cost of raw materials |
1,265.8 |
942.6 |
1,524.7 |
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Taxes and social security costs |
9.7 |
9.6 |
10.7 |
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Total payroll costs |
60.7 |
58.8 |
63.8 |
|
Fixed asset depreciation and amortisation |
26.9 |
30.8 |
34.1 |
|
Other operating costs |
118.9 |
98.5 |
130.0 |
|
Net operating income |
16.5 |
-3.6 |
21.9 |
|
Income received from associated companies |
- |
0.0 |
0.0 |
|
Other income |
0.2 |
0.1 |
0.5 |
|
Interest payable on loans |
7.2 |
5.6 |
12.2 |
|
Other expenses |
- |
0.0 |
0.0 |
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Total expenses |
6.9 |
5.5 |
11.8 |
|
Profit before tax |
9.6 |
-9.1 |
10.1 |
|
Extraordinary income |
1.2 |
- |
- |
|
Provisions |
24.0 |
18.5 |
20.6 |
|
Extraordinary expenses |
0.4 |
- |
- |
|
Extraordinary result |
0.8 |
- |
- |
|
Other taxes |
0.3 |
0.4 |
0.4 |
|
Total taxation |
2.8 |
0.0 |
1.0 |
|
Net profit |
7.3 |
- |
8.8 |
|
Net loss |
- |
-9.5 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
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Issued capital |
51.4 |
55.0 |
53.3 |
|
Capital reserves |
106.0 |
113.3 |
109.8 |
|
Unavailable reserves |
2.2 |
2.4 |
3.0 |
|
Profits for the year |
29.7 |
41.3 |
49.5 |
|
Total stockholders equity |
187.1 |
209.7 |
212.6 |
|
Deferred taxation |
0.8 |
- |
0.0 |
|
Other provisions |
12.5 |
19.1 |
19.6 |
|
Provisions and allowances |
24.4 |
19.1 |
19.6 |
|
Other debentures |
133.0 |
152.1 |
48.1 |
|
Trade accounts payable |
- |
0.2 |
- |
|
Total long-term liabilities |
133.0 |
152.3 |
48.1 |
|
Trade creditors |
37.7 |
32.9 |
10.8 |
|
Other loans |
61.5 |
5.4 |
68.9 |
|
Taxation and social security |
3.3 |
3.0 |
4.6 |
|
Due to group companies |
0.3 |
0.3 |
0.3 |
|
Total current liabilities |
102.8 |
41.6 |
84.6 |
|
Total liabilities (including net worth) |
473.4 |
456.2 |
404.3 |
|
Patents |
1.7 |
2.1 |
1.1 |
|
Intangibles |
1.7 |
2.1 |
1.1 |
|
Land and buildings |
53.5 |
61.9 |
64.1 |
|
Machinery and tools |
81.6 |
97.1 |
111.4 |
|
Fixtures and equipment |
53.5 |
61.9 |
64.1 |
|
Fixed assets under construction |
3.3 |
1.8 |
4.4 |
|
Total tangible fixed assets |
144.4 |
167.0 |
186.4 |
|
Shares held in associated companies |
0.5 |
0.5 |
0.5 |
|
Deposits |
- |
0.0 |
0.6 |
|
Total financial assets |
0.5 |
0.6 |
1.1 |
|
Total non-current assets |
146.6 |
169.7 |
188.6 |
|
Raw materials |
49.3 |
41.6 |
27.8 |
|
Work in progress |
69.1 |
47.5 |
45.4 |
|
Finished goods |
63.4 |
74.8 |
44.1 |
|
Net stocks and work in progress |
181.8 |
163.8 |
117.4 |
|
Trade debtors |
126.1 |
107.1 |
87.3 |
|
Other receivables |
12.0 |
12.4 |
10.7 |
|
Total receivables |
138.0 |
119.5 |
98.0 |
|
Owing from associated companies |
0.0 |
0.0 |
0.0 |
|
Cash and liquid assets |
6.0 |
0.3 |
0.2 |
|
Total current assets |
325.9 |
283.6 |
215.6 |
|
Prepaid expenses and deferred costs |
1.0 |
2.9 |
0.1 |
|
Total assets |
473.4 |
456.2 |
404.3 |
Annual Ratios
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
31.70 |
68.19 |
25.49 |
|
Acid test ratio |
14.01 |
28.80 |
11.61 |
|
Total liabilities to net worth |
0.13% |
0.09% |
0.06% |
|
Net worth to total assets |
0.04% |
0.05% |
0.05% |
|
Current liabilities to net worth |
0.05% |
0.02% |
0.04% |
|
Current liabilities to stock |
0.06% |
0.03% |
0.07% |
|
Fixed assets to net worth |
0.08% |
0.08% |
0.09% |
|
Collection period |
329.00 |
369.00 |
201.00 |
|
Stock turnover rate |
1.30 |
1.54 |
0.73 |
|
Profit margin |
0.00% |
0.00% |
0.00% |
|
Return on assets |
0.00% |
0.00% |
0.00% |
|
Shareholders' return |
0.00% |
0.00% |
0.00% |
|
Sales per employee |
98.41 |
72.22 |
109.20 |
|
Profit per employee |
0.46 |
-0.66 |
0.57 |
|
Average wage per employee |
4.31 |
4.13 |
4.14 |
|
Net worth |
187.1 |
209.7 |
212.6 |
|
Number of employees |
1,063 |
1,024 |
1,055 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.04 |
|
UK Pound |
1 |
Rs.84.83 |
|
Euro |
1 |
Rs.68.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.