|
Report Date : |
13.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
L-3 COMMUNICATIONS ELAC NAUTIK GMBH |
|
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Registered Office : |
Neufeldtstr. 10, D 24118 Kiel, Post Box: 25 20, D 24024 |
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Country : |
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|
|
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Financials (as on) : |
31.12.2008 |
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|
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Date of Incorporation : |
07.02.1978 |
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|
|
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Com. Reg. No.: |
HRB 1221 KI |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacture of instruments and appliances for measuring,
testing and navigation |
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|
|
|
No. of Employees : |
159 |
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 |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. 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 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. 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 electricity generating capacity and 46% of its base-load electricity production.
|
Source
: CIA |
L-3 COMMUNICATIONS
ELAC NAUTIK GMBH
Company Status: active
Neufeldtstr. 10
D 24118 Kiel
Post Box:
25 20, D 24024 kiel
Telephone:0431/883-0
Telefax: 0431/883-496
Homepage: www.elac-nautik.com
E-mail: wilhelm.goerl@l-3com.com
LEGAL FORM Private
limited company
Date of foundation: 07.02.1978
Begin of business
activities: 07.02.1978
Shareholders'
agreement: 07.02.1978
Registered on: 09.02.1978
Commercial Register: Local
court 24114 Kiel
under: HRB
1221 KI
Share capital:
EUR 7,705,168.65
Shareholder:
L-3
Communications Holding GmbH
Zum Panrepel
2
D 28307
Bremen
Legal form:
Private limited company
Share
capital: EUR 26,000.00
Share: EUR 7,705,168.65
Registered
on: 09.05.2001
Reg. data:
28195 Bremen, HRB 20127 HB
Profit
transfer agreement
Manager:
Dr. Jörg
Brechtefeld
D 24796
Bovenau
having sole
power of representation
born:
08.05.1962
Proxy:
Wilhelm Görl
D 24857
Fahrdorf
authorized to
jointly represent the company
born:
12.07.1954
Marital
status: married
Proxy:
Hans-Jörg
Maschmann
D 24113
Molfsee
authorized to
jointly represent the company
born:
04.10.1958
Proxy:
Dr. Peter
Gimpel
Beselerallee
32
D 24105 Kiel
authorized to
jointly represent the company
born:
21.08.1955
Profession:
Businessman
Marital
status: unknown
Proxy:
Bernd Szukay
D 24361 Haby
authorized to
jointly represent the company
born:
01.03.1966
Further functions/participations of Dr. Jörg Brechtefeld
(Manager)
Manager:
ELAC Nautik
Unterstützungskasse GmbH
Neufeldtstr. 10
D 24118 Kiel
Legal form:
Private limited company
Share
capital: EUR 25,564.59
Registered
on: 21.12.1989
Reg.
data: 24114 Kiel, HRB 2925 KI
09.02.1978 - 13.04.1994
Honeywell-Elac-Nautik Gesellschaft mit
beschränkter Haftung
Westring
429
D 24118 Kiel
Private
limited company
14.07.1994 - 11.08.1995
AlliedSignal ELAC Nautik GmbH
Westring
429
D 24118
Kiel
Private
limited company
11.08.1995 - 19.05.1998
AlliedSignal ELAC Nautik GmbH
Neufeldtstr.
D 24118
Kiel
Private
limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
22.11.2004 - 09.02.2012 Manager
Gerhard Jordt
D 24217
Schönberg
Main industrial sector
26511 Manufacture of instruments
and appliances for measuring,
testing and navigation
Secondary industrial sector
28290 Manufacture of other
general-purpose machinery
Shareholder:
ELAC Nautik
Unterstützungskasse GmbH
Neufeldtstr.
10
D 24118 Kiel
Legal form:
Private limited company
Company Status: active
Share
capital: EUR 25,564.59
Share: EUR 25,564.59
Reg.
data: 21.12.1989
Local
court 24114 Kiel
HRB 2925 KI
Payment experience: within agreed
terms
Negative information: We have no
negative information at hand.
Balance sheet year: 2008
Type of ownership: Tenant
Address Neufeldtstr. 10
D 24118 Kiel
Land register documents were not available.
Principal bank
DEUTSCHE BANK, KIEL
Sort. code: 21070020, Account no.: 0343962, BIC: DEUTDEHH210
Turnover: 2011 EUR 18,250,000.00
2012 *EUR 18,623,500.00
further business figures:
Equipment:
EUR 853,535.00
Ac/ts receivable:
EUR 7,342,232.00
Liabilities:
EUR 5,290,313.00
Employees:
159
- thereof permanent staff: 151
- Trainees:
8
Profit transfer agreement to:
L-3
Communications Holding GmbH
Zum Panrepel
2
D 28307
Bremen
The business figures marked with an asterisk are estimates based
on average values in the line of
business.
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]:
51.84
Liquidity ratio:
3.26
Return on total capital [%]:
9.16
Balance sheet ratios 01.01.2007 - 31.12.2007
Equity ratio [%]:
52.37
Liquidity ratio:
10.00
Return on total capital [%]:
4.14
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: 01.01.2008 - 31.12.2008
ASSETS EUR 16,972,480.73
Fixed assets EUR 1,229,068.59
Intangible assets EUR 227,770.00
Concessions, licences, rights EUR 227,770.00
Tangible assets EUR 975,734.00
Plant / machinery EUR 73,479.00
Other tangible assets / fixtures and
fittings EUR 853,535.00
Advance payments made / construction
in progress EUR 48,720.00
Financial assets EUR 25,564.59
Shares in participations /
subsidiaries and the like EUR 25,564.59
Shares in related companies EUR 25,564.59
Current assets EUR 15,522,921.18
Stocks EUR 4,854,113.88
Accounts receivable EUR 7,342,232.98
thereof total due from shareholders EUR
931,263.65
Amounts due from related companies EUR
2,314,241.26
Other debtors and assets EUR 5,027,991.72
Liquid means EUR 3,326,574.32
Remaining other assets EUR 220,490.96
Accruals (assets) EUR 220,490.96
LIABILITIES EUR 16,972,480.73
Shareholders' equity EUR 9,302,380.04
Capital EUR 7,705,168.65
Subscribed capital (share capital) EUR
7,705,168.65
Balance sheet profit/loss (+/-) EUR 1,597,211.39
Profit / loss brought forward EUR 1,597,211.39
Provisions EUR 2,379,787.00
Other / unspecified provisions EUR 2,379,787.00
Liabilities EUR 5,290,313.69
Other liabilities EUR 5,290,313.69
Trade creditors (for IAS incl. bills
of exchange) EUR 1,759,601.47
Liabililties due to related
companiesEUR 131,744.39
Unspecified other liabilities EUR 3,398,967.83
thereof liabilities from tax /
financial authorities EUR 169,978.03
thereof liabilities from social
security EUR 22,915.82
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-) EUR 16,829,110.69
Staff expenses EUR 11,120,640.16
Wages and salaries EUR 9,174,368.56
Social security contributions and
expenses for pension plans and
benefits EUR 1,946,271.60
Total depreciation EUR 436,695.92
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 436,695.92
Other operating expenses EUR 3,946,152.40
Operating result from continuing
operations EUR 1,325,622.21
Interest result (+/-) EUR 107,001.39
Interest and similar income EUR 218,454.97
thereof from related companies EUR 169,200.94
Interest and similar expenses EUR 111,453.58
Financial result (+/-) EUR 107,001.39
Result from ordinary operations (+/-) EUR
1,432,623.60
Expenses for transfer of profits to a
parent company EUR 1,459,390.94
Income tax / refund of income tax
(+/-)EUR 29,226.98
Other taxes / refund of taxes EUR -2,459.64
Tax (+/-) EUR 26,767.34
Annual surplus / annual deficit EUR 0.00
Type of balance
sheet: Company balance
sheet
Financial
year: 01.01.2007 - 31.12.2007
ASSETS EUR 15,607,815.42
Fixed assets EUR 1,127,144.44
Intangible assets EUR 298,583.00
Concessions, licences, rights EUR 298,583.00
Tangible assets EUR 802,996.85
Plant / machinery EUR 99,476.00
Other tangible assets / fixtures and
fittings EUR 669,448.00
Advance payments made / construction
in progress EUR 34,072.85
Financial assets EUR 25,564.59
Shares in participations /
subsidiaries and the like EUR 25,564.59
Shares in related companies EUR 25,564.59
Current assets EUR 14,334,328.89
Stocks EUR 2,579,886.88
Accounts receivable EUR 7,726,584.09
thereof total due from shareholders EUR
2,221,453.65
Amounts due from related companies EUR
4,214,196.25
Other debtors and assets EUR 3,512,387.84
Liquid means EUR 4,027,857.92
Remaining other assets EUR 146,342.09
Accruals (assets) EUR 146,342.09
LIABILITIES EUR 15,607,815.42
Shareholders' equity EUR 9,302,380.04
Capital EUR 7,705,168.65
Subscribed capital (share capital) EUR
7,705,168.65
Balance sheet profit/loss (+/-) EUR 1,597,211.39
Profit / loss brought forward EUR 1,597,211.39
Provisions EUR 2,052,084.00
Other / unspecified provisions EUR 2,052,084.00
Liabilities EUR 4,253,351.38
Other liabilities EUR 4,253,351.38
Trade creditors (for IAS incl. bills
of exchange) EUR 955,931.86
Liabililties due to related
companiesEUR 3,633.49
Unspecified other liabilities EUR 3,293,786.03
thereof liabilities from tax /
financial authorities EUR 169,598.72
thereof liabilities from social
security EUR 21,108.72
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-) EUR 14,351,242.14
Staff expenses EUR 10,183,851.79
Wages and salaries EUR 8,453,244.20
Social security contributions and
expenses for pension plans and
benefits EUR 1,730,607.59
Total depreciation EUR 430,751.48
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 430,751.48
Other operating expenses EUR 3,271,351.63
Operating result from continuing
operations EUR 465,287.24
Interest result (+/-) EUR 96,049.03
Interest and similar income EUR 185,563.78
thereof from related companies EUR 169,750.50
Interest and similar expenses EUR 89,514.75
thereof paid to related companies EUR 0.00
Financial result (+/-) EUR 96,049.03
Result from ordinary operations (+/-) EUR
561,336.27
Expenses for transfer of profits to a
parent company EUR 547,652.27
Income tax / refund of income tax
(+/-)EUR -10,878.65
Other taxes / refund of taxes EUR -2,805.35
Tax (+/-) EUR -13,684.00
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.62 |
|
|
1 |
Rs.100.84 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.