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Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
FRIEDRICH VOLLMER FEINMEßGERÄTEBAU GMBH |
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Registered Office : |
Verbandsstr. 60, D 58093 Hagen |
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Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
04.08.1965 |
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Com. Reg. No.: |
HRB 1579 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer
of instruments and appliances for measuring, testing and navigation |
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No. of Employees : |
108 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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 |
Friedrich Vollmer Feinmeßgerätebau GmbH
Verbandsstr. 60
D 58093 Hagen
Telephone:02334/507-0
Telefax: 02334/507-199
Homepage: www.vollmergmbh.de
E-mail: contact@vollmergmbh.de
DE811201252
active
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 04.08.1965
Shareholders'
agreement: 04.12.1982
Registered on: 23.12.1982
Commercial Register: Local
court 58097 Hagen
under: HRB 1579
Share capital:
EUR 260,000.00
Friedrich Vollmer Handels- und
Werksvertretung GmbH & Co.
Verbandsstr. 60b
D 58093 Hagen
Legal form: Ltd partnership with priv. ltd.
company as general partner
Total cap. EUR 255,645.94
contribution:
Share: EUR 236,340.00
Registered on: 02.09.1994
Reg. data: 58097 Hagen, HRA 3303
Shareholder:
Heinrich Winkelmann
D
44795 Bochum
born:
09.11.1956
Share: EUR 10,660.00
Shareholder:
Andreas Selent
Mecklenburger Str. 4f
D
58089 Hagen
born:
06.11.1959
Share: EUR 5,200.00
Shareholder:
Thomas
Welsch
D
58644 Iserlohn
Share: EUR 2,600.00
Shareholder:
Ralf
Denninger
D
58636 Iserlohn
Share: EUR 2,600.00
Shareholder:
Markus
Buck
Bürenbrucher Weg 26
D
58239 Schwerte
born: 06.11.1959
Share: EUR 2,600.00
Heinrich Winkelmann
D 44795 Bochum
having sole power of representation
born: 09.11.1956
Manager:
Andreas Selent
Mecklenburger Str. 4f
D
58089 Hagen
having
sole power of representation
born:
06.11.1959
Ursula Beckmann
D 58636 Iserlohn
authorized to jointly represent the company
born: 30.03.1951
04.08.1965 -
03.12.1982 Friedrich Vollmer,
Feinmeßgerätebau
D
58093 Hagen
Sole proprietorship
03.12.1982 -
11.07.1995 Friedrich Vollmer
Feinmeßgerätebau GmbH
Verbandsstr. 60b
D
58093 Hagen
Private limited company
07.12.1993 -
26.01.2011 Manager
Friedrich Vollmer
D 58093 Hagen
Main industrial
sector
·
26511 Manufacture of instruments and appliances
for measuring, testing and navigation
26512
Manufacture of instruments and appliances for measuring, testing and
navigation
46149
Agents involved in the sale of electrotechnical and electronical
products n.e.c.
46693
Wholesale of other equipment and accessories for machinery and technical
supplies
Shareholder:
Vollmer Beteiligungs-GmbH
Verbandsstr. 60
D
58093 Hagen
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 50,000.00
Share: EUR 24,500.00
Reg.
data: 17.03.2005
Local court 58097 Hagen
HRB 7064
Shareholder:
Friedrich Vollmer Geschäftsführungs- und
Verwaltungs GmbH Hagen
Verbandsstr. 60b
D
58093 Hagen
Legal
form: Private limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 511.29
Reg.
data: 01.09.1994
Local court 58097 Hagen
HRB 3103
Payment experience: cash
discount/within agreed terms
Negative information: We
have no negative information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Verbandsstr. 60
D 58093 Hagen
Real Estate of: Andreas
Selent
Type of ownership: proprietor
Share: 100.00 %
Address Mecklenburger Str. 4f
D 58089 Hagen
Land register documents were not available.
COMMERZBANK, HAGEN, WESTF
Sort. code: 45040042,
Account no.: 7807712, BIC: COBADEFF450
POSTBANK, DORTMUND
Sort. code: 44010046,
Account no.: 16128462, BIC: PBNKDEFF440
SPARKASSE HAGEN, HAGEN, WESTF
Sort. code: 45050001,
Account no.: 129005967, BIC: WELADE3HXXX
Gross profit or loss:2011 EUR 9,696,240.00
2012 EUR 9,700,000.00
Profit: 2011 EUR 277,547.00
further business figures:
Equipment: EUR 109,206.00
Ac/ts receivable: EUR 3,128,922.00
Liabilities: EUR 5,527,076.00
Total numbers of vehicles: 17
Employees:
108
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 62.75
Liquidity ratio: 10.00
Return on total capital [%]: 3.33
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 20.62
Liquidity ratio: 0.82
Return on total capital [%]: 2.42
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 23.42
Liquidity ratio: 0.83
Return on total capital [%]: 5.49
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 25.89
Liquidity ratio: 0.79
Return on total capital [%]: 7.03
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: 01.01.2011 - 31.12.2011
ASSETS EUR 8,368,322.37
Fixed assets EUR 653,432.73
Intangible assets
EUR 20,006.00
Other / unspecified intangible assetsEUR 20,006.00
Tangible assets
EUR 525,807.31
Plant / machinery
EUR 416,601.05
Other tangible assets / fixtures and
fittings
EUR 109,206.26
Financial assets
EUR 107,619.42
Shares in participations /
subsidiaries
and the like EUR 107,619.42
Shares in related companies
EUR 107,619.42
Current assets
EUR 7,705,997.73
Stocks
EUR 1,951,416.15
Other / unspecified stocks
EUR 1,951,416.15
Received advance payments for orders
(depreciated on the assets side)
EUR -969,549.36
Accounts receivable
EUR 3,128,922.32
Amounts
due from related companies EUR 826,183.96
Other debtors and assets
EUR 2,302,738.36
Liquid means
EUR 2,625,659.26
Remaining other assets
EUR 8,891.91
Accruals (assets)
EUR 8,891.91
LIABILITIES EUR 8,368,322.37
Shareholders' equity
EUR 1,797,485.43
Capital
EUR 260,000.00
Subscribed capital (share capital)
EUR 260,000.00
Reserves
EUR 1,278,777.26
Retained earnings / revenue reserves EUR 1,278,777.26
Balance sheet profit/loss (+/-)
EUR 258,708.17
Balance sheet profit / loss
EUR 258,708.17
Provisions
EUR 1,043,761.32
Liabilities
EUR 5,527,075.62
Financial debts EUR 312,600.00
Liabilities due to banks
EUR 312,600.00
Other liabilities
EUR 5,214,475.62
Liabililties due to related companiesEUR 3,564,338.17
Unspecified other liabilities
EUR 1,650,137.45
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 9,696,240.13
Staff expenses
EUR 6,494,994.76
Wages and salaries
EUR 5,468,219.62
Social security contributions and
expenses for pension plans and
benefits
EUR 1,026,775.14
Total depreciation
EUR 177,699.89
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 177,699.89
Other operating expenses
EUR 2,469,037.89
Operating result from continuing
operations
EUR 554,507.59
Result from participating interests
(+/-)
EUR 13,324.28
Expenses / income from participations EUR 13,324.28
Income from related companies
EUR 13,324.28
Interest result (+/-)
EUR -109,535.12
Interest and similar income
EUR 9,770.45
thereof from related companies
EUR 252.77
Interest and similar expenses
EUR 119,305.57
thereof paid to related companies
EUR 77,470.66
Financial result (+/-)
EUR -96,210.84
Result from ordinary operations (+/-)
EUR 458,296.75
Income tax / refund of income tax (+/-)EUR -176,278.76
Other taxes / refund of taxes
EUR -4,470.66
Tax
(+/-)
EUR -180,749.42
Annual surplus / annual deficit
EUR 277,547.33
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 8,571,748.87
Fixed assets
EUR 649,611.19
Intangible assets
EUR 9,466.00
Other / unspecified intangible assetsEUR 9,466.00
Tangible assets
EUR 604,771.31
Plant / machinery EUR 453,957.05
Other tangible assets / fixtures and
fittings
EUR 150,814.26
Financial assets
EUR 35,373.88
Shares in participations /
subsidiaries and the like
EUR 35,373.88
Shares in investee companies
EUR 35,373.88
Current assets
EUR 7,915,388.38
Stocks
EUR 2,872,501.81
Accounts receivable
EUR 4,055,903.86
Amounts due from investee companies
EUR 546,545.50
Other debtors and assets
EUR 3,509,358.36
Investments in current assets
EUR 72,245.54
Own shares
EUR 72,245.54
Liquid means
EUR 914,737.17
Remaining other assets
EUR 6,749.30
Accruals (assets)
EUR 6,749.30
LIABILITIES EUR 8,571,748.87
Shareholders' equity
EUR 1,699,938.10
Capital
EUR 260,000.00
Subscribed
capital (share capital) EUR 260,000.00
Reserves
EUR 1,251,022.53
Retained earnings / revenue reserves EUR 1,251,022.53
Balance sheet profit/loss (+/-)
EUR 188,915.57
Balance sheet profit / loss
EUR 188,915.57
Items between shareholders' equity and
debt capital
EUR 11,570.88
Special items with reserve funds
EUR 11,570.88
Provisions
EUR 905,249.70
Liabilities
EUR 5,954,990.19
Financial debts
EUR 439,254.12
Liabilities due to banks
EUR 439,254.12
Other liabilities
EUR 5,515,736.07
Liabilities due to investee companiesEUR 3,585,868.92
Unspecified other liabilities
EUR 1,929,867.15
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 9,078,554.19
Staff expenses
EUR 6,196,017.56
Wages and salaries
EUR 5,261,161.02
Social security contributions and
expenses for pension plans and
benefits
EUR 934,856.54
Total depreciation
EUR 242,201.38
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 242,201.38
Other operating expenses
EUR 2,220,788.37
Operating result from continuing
operations
EUR 419,546.88
Result
from participating interests
(+/-)
EUR 17,497.34
Expenses / income from participations EUR 17,497.34
Income from related companies
EUR 17,497.34
Interest result (+/-)
EUR -115,215.98
Interest and similar income
EUR 6,289.57
Interest and similar expenses
EUR 121,505.55
Financial result (+/-)
EUR -97,718.64
Result from ordinary operations (+/-)
EUR 321,828.24
Income tax / refund of income tax (+/-)EUR -105,898.75
Other taxes / refund of taxes
EUR -8,555.84
Tax
(+/-)
EUR -114,454.59
Annual surplus / annual deficit
EUR 207,373.65
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
UK Pound |
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.