MIRA INFORM REPORT

 

 

Report Date :

22.09.2012

 

 

IDENTIFICATION DETAILS

 

Name :

HOTTINGER BALDWIN MESSTECHNIK GMBH

 

 

Registered Office :

Im Tiefen See 45, D 64293 Darmstadt

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.02.1955

 

 

Com. Reg. No.:

HRB 1147

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of instruments and appliances for measuring, testing and navigation

 

 

No. of Employees :

659

 

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 :

Satisfactory

Payment Behaviour :

No Complaints

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

Hottinger Baldwin Messtechnik GmbH

 

 

Company address

 

Im Tiefen See 45

D 64293 Darmstadt

Telephone:        06151/8030

Telefax:            06151/8039100

Homepage:       www.hbm.com

E-mail:              info@de.hbm.com

 

 

VAT no

 

DE111638489

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:       01.02.1955

Shareholders'

agreement:                    01.02.1955

Registered on:              08.03.1955

Commercial Register:    Local court 64283 Darmstadt

under:                           HRB 1147

Share capital:                 EUR         20,502,850.00

 

 

Shareholder

 

Spectris Germany GmbH

Im Tiefen See 45

D 64293 Darmstadt

Legal form: Private limited company

Share capital:     EUR          5,001,000.00

Share:             EUR         20,502,850.00

Registered on: 10.06.2002

Reg. data: 64283 Darmstadt, HRB 8553

Profit transfer agreement

Manager

 

Andreas Hüllhorst

Beethovenweg 12

D 64287 Darmstadt

born: 13.03.1957

Profession: Fully qualified economic

engineer

Marital status: married

 

 

President of the Supervisory Board

 

James Charles Webster

GB  Highworth/Wiltshire

Nationality: British

 

 

Member of the Supervisory Board

 

Clive Watson

GB  Beaconsfield/Bucks

Nationality: British

 

 

Representative of the Employees within the Supervisory Board

 

Uwe Thiergart

Erfurter Str. 15

D 64372 Ober-Ramstadt

 

 

Proxy

 

Dr. Wolfram Meiritz

Wildstr. 17

D 89522 Heidenheim

born: 26.09.1955

Marital status: married

Proxy:

                     Gert Gommola

                     D 04105 Leipzig

                     authorized to jointly represent the company

                     born: 01.03.1958

Proxy:

                     Bernardus Keetman

                     NL - BJ Lemmer

                     authorized to jointly represent the company

                     born: 25.09.1958

                     Nationality: Dutch

Proxy:

                     Karl-Heinz Pöhlmann

                     D 65343 Eltville

                     authorized to jointly represent the company

                     born: 07.08.1966

Proxy:

                     Thomas Hubert Lippok

                     D 64293 Darmstadt

                     authorized to jointly represent the company

                     born: 14.09.1968

 

Further functions/participations of Andreas Hüllhorst (Manager)

 

Manager:

                     nCode GmbH

                     Industriestr. 29

                     D 82194 Gröbenzell

                     Legal form: Private limited company

                                 dissolved

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         25.11.2002

                     Reg. data:  80797 München, HRB 145383

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

2651    Manufacture of instruments and appliances for measuring, testing and navigation

 

Secondary industrial sector

46693   Wholesale of other equipment and accessories for machinery and technical supplies

 

FINANCIAL INFORMATION

 

Payment experience:     in top condition

 

Negative information:    We have no negative information at hand.

 

Balance sheet year:       2010

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Im Tiefen See 45

                                    D 64293 Darmstadt

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

COMMERZBANK VORMALS DRESDNER BANK, DARMSTADT

Sort. code: 50880050, Account no.: 0173976100, BIC: DRESDEFF508

 

Further bank

THE ROYAL BANK OF SCOTLAND, NIEDERLASSUNG DEUTSCHLAND, FRANKFURT AM MAIN

Sort. code: 50230400, Account no.: 1654225002, BIC: ABNADEFFFRA

 

 

FINANCIAL FIGURES

 

Turnover:            2010               EUR        111,341,169.00

Profit:              2010               EUR          4,458,523.00

Equipment:                              EUR          7,096,503.00

Ac/ts receivable:                       EUR         16,737,764.00

Liabilities:                            EUR         28,829,913.00

Employees:                                                    659

 

Profit transfer agreement to:

Spectris Germany GmbH

Im Tiefen See 45

D 64293 Darmstadt

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                 51.34

Liquidity ratio:                   1.06

Return on total capital [%]:       6.68

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 54.17

Liquidity ratio:                   1.41

Return on total capital [%]:      -1.54

 

Balance sheet ratios 01.01.2008 - 31.12.2008

Equity ratio [%]:                 58.93

Liquidity ratio:                   1.56

Return on total capital [%]:      24.82

 

Balance sheet ratios 01.01.2007 - 31.12.2007

Equity ratio [%]:                 58.31

Liquidity ratio:                   2.05

Return on total capital [%]:      21.30

 

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:      01.01.2010 - 31.12.2010

 

ASSETS                                  EUR         67,289,998.53

 Fixed assets                           EUR         30,389,942.99

  Intangible assets                     EUR          1,055,998.20

   Concessions, licences, rights        EUR            896,333.31

   Goodwill                             EUR            159,664.89

  Tangible assets                       EUR         29,333,944.79

   Land / similar rights                EUR         17,946,934.81

   Plant / machinery                    EUR          3,770,867.65

   Other tangible assets / fixtures and

   fittings                             EUR          7,096,503.42

   Advance payments made / construction

   in progress                          EUR            519,638.91

 Current assets                         EUR         36,461,558.62

  Stocks                                EUR         19,502,300.95

   Raw materials, consumables and

   supplies                             EUR          7,004,336.07

   Finished goods / work in progress    EUR         12,497,964.88

  Accounts receivable                   EUR         16,737,764.06

   thereof total due from shareholders  EUR             18,718.73

   Trade debtors                        EUR          6,760,969.77

   Amounts due from related companies   EUR          9,437,818.35

   Other debtors and assets             EUR            538,975.94

  Liquid means                          EUR            221,493.61

 Remaining other assets                 EUR            438,496.92

  Accruals (assets)                     EUR            431,678.92

  Other assets                          EUR              6,818.00

 

LIABILITIES                             EUR         67,289,998.53

 Shareholders' equity                   EUR         21,650,993.37

  Capital                               EUR         20,502,850.00

   Subscribed capital (share capital)   EUR         20,502,850.00

  Reserves                              EUR          1,092,664.00

   Capital reserves                     EUR          1,092,664.00

  Balance sheet profit/loss (+/-)       EUR             55,479.37

   Profit / loss brought forward        EUR             55,479.37

 Provisions                             EUR         16,591,664.19

  Pension provisions and comparable

  provisions                            EUR          5,846,547.68

  Other / unspecified provisions        EUR         10,745,116.51

 Liabilities                            EUR         28,829,913.12

  thereof total due to shareholders     EUR         12,792,345.65

  Financial debts                       EUR                 13.74

   Liabilities due to banks             EUR                 13.74

  Other liabilities                     EUR         28,829,899.38

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          3,495,756.97

   Liabilities from received advance

   payments                             EUR          7,390,909.96

   Liabililties due to related companiesEUR         16,286,248.27

   Unspecified other liabilities        EUR          1,656,984.18

    thereof liabilities from tax /

    financial authorities               EUR            179,782.39

    thereof liabilities from social

    security                            EUR             43,436.69

 Other liabilities                      EUR            217,427.85

  Deferrals (liabilities)               EUR            217,427.85

 

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

Code (HGB)

 Sales                                  EUR        111,341,168.84

 Inventory change + own costs (+/-)     EUR             93,101.75

  Inventory change (+/-)                EUR           -211,224.73

  Capitalised own costs                 EUR            304,326.48

 Other operating income                 EUR          4,507,457.29

 Cost of materials                      EUR         39,421,708.91

  Raw materials and supplies, purchased

  goods                                 EUR         37,440,948.18

  Purchased services                    EUR          1,980,760.73

 Gross result (+/-)                     EUR         76,520,018.97

 Staff expenses                         EUR         41,085,326.91

  Wages and salaries                    EUR         34,460,374.80

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          6,624,952.11

 Total depreciation                     EUR         20,719,190.11

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR         20,719,190.11

 Other operating expenses               EUR            -28,226.47

 Operating result from continuing

 operations                             EUR         14,743,728.42

 Interest result (+/-)                  EUR        -10,389,994.30

  Interest and similar income           EUR            -97,067.52

  Interest and similar expenses         EUR         10,292,926.78

   thereof paid to related companies    EUR            337,942.37

 Other financial result                 EUR           -905,253.10

  Depreciation on financial assets and

  marketable securities                 EUR            905,253.10

 Financial result (+/-)                 EUR        -11,295,247.40

 Result from ordinary operations (+/-)  EUR          3,448,481.02

 Extraordinary result (+/-)             EUR            919,528.74

 Expenses for transfer of profits to a

 parent company                         EUR          9,282,884.19

 Income tax / refund of income tax (+/-)EUR             14,571.62

 Other taxes / refund of taxes          EUR             75,942.23

 Tax (+/-)                              EUR             90,513.85

 Annual surplus / annual deficit        EUR         -4,824,360.58

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2009 - 31.12.2009

 

ASSETS                                  EUR         67,850,793.25

 Fixed assets                           EUR         31,292,965.95

  Intangible assets                     EUR          1,305,631.72

   Concessions, licences, rights        EUR          1,076,027.76

   Goodwill                             EUR            229,603.96

  Tangible assets                       EUR         29,987,334.23

   Land / similar rights                EUR         17,840,857.11

   Plant / machinery                    EUR          3,916,861.08

   Other tangible assets / fixtures and

   fittings                             EUR          7,528,405.26

   Advance payments made / construction

   in progress                          EUR            701,210.78

 Current assets                         EUR         36,434,911.21

  Stocks                                EUR         18,640,729.70

   Raw materials, consumables and

   supplies                             EUR          6,551,084.37

   Finished goods / work in progress    EUR         12,089,645.33

  Accounts receivable                   EUR         17,551,919.53

   thereof total due from shareholders  EUR          1,020,100.01

   Trade debtors                        EUR          6,842,029.85

   Amounts due from related companies   EUR          8,072,423.05

   Other debtors and assets             EUR          2,637,466.63

  Liquid means                          EUR            242,261.98

 Remaining other assets                 EUR            122,916.09

  Accruals (assets)                     EUR            122,916.09

 

LIABILITIES                             EUR         67,850,793.25

 Shareholders' equity                   EUR         21,650,993.37

  Capital                               EUR         20,502,850.00

   Subscribed capital (share capital)   EUR         20,502,850.00

  Reserves                              EUR          1,092,664.00

   Capital reserves                     EUR          1,092,664.00

  Balance sheet profit/loss (+/-)       EUR             55,479.37

   Profit / loss brought forward        EUR             55,479.37

 Provisions                             EUR         18,676,180.49

  Pension provisions and comparable

  provisions                            EUR          4,834,933.00

  Other / unspecified provisions        EUR         13,841,247.49

 Liabilities                            EUR         27,402,763.08

  thereof total due to shareholders     EUR         15,449,602.29

  Financial debts                       EUR                 13.74

   Liabilities due to banks             EUR                 13.74

  Other liabilities                     EUR         27,402,749.34

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          1,214,662.28

   Liabilities from received advance

   payments                             EUR          6,463,550.20

   Liabililties due to related companiesEUR         17,326,238.67

   Unspecified other liabilities        EUR          2,398,298.19

    thereof liabilities from tax /

    financial authorities               EUR            698,257.92

    thereof liabilities from social

    security                            EUR             60,403.48

 Other liabilities                      EUR            120,856.31

  Deferrals (liabilities)               EUR            120,856.31

 

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

Code (HGB)

 Sales                                  EUR         92,335,328.02

 Inventory change + own costs (+/-)     EUR         -1,576,686.22

  Inventory change (+/-)                EUR         -1,840,002.12

  Capitalised own costs                 EUR            263,315.90

 Other operating income                 EUR          5,196,742.15

 Cost of materials                      EUR         30,377,517.60

  Raw materials and supplies, purchased

  goods                                 EUR         28,727,360.22

  Purchased services                    EUR          1,650,157.38

 Gross result (+/-)                     EUR         65,577,866.35

 Staff expenses                         EUR         44,401,144.73

  Wages and salaries                    EUR         36,932,321.30

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          7,468,823.43

 Total depreciation                     EUR          3,495,742.22

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR          3,495,742.22

 Other operating expenses               EUR         18,313,770.37

 Operating result from continuing

 operations                             EUR           -632,790.97

 Interest result (+/-)                  EUR           -311,609.38

  Interest and similar income           EUR                472.17

  Interest and similar expenses         EUR            312,081.55

   thereof paid to related companies    EUR            311,864.55

 Financial result (+/-)                 EUR           -311,609.38

 Result from ordinary operations (+/-)  EUR           -944,400.35

 Income from assumption of loss by

 parent company                         EUR          1,020,100.01

 Income tax / refund of income tax (+/-)EUR              4,010.41

 Other taxes / refund of taxes          EUR            -79,710.07

 Tax (+/-)                              EUR            -75,699.66

 Annual surplus / annual deficit        EUR                  0.00

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.34

UK Pound

1

Rs.87.91

Euro

1

Rs.70.57

 

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.