MIRA INFORM REPORT

 

 

Report Date :

11.02.2013

 

IDENTIFICATION DETAILS

 

Name :

HYDRO SYSTEMS KG

 

 

Registered Office :

Ahfeldstr. 10  D 77781 Biberach

 

 

Country :

Germany

 

 

Date of Incorporation :

05.11.2007

 

 

Com. Reg. No.:

HRA 700803

 

 

Legal Form :

Limited Partnership

 

 

Line of Business :

Manufacture of other special-purpose machinery

 

 

No. of Employees :

276

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

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 and address

 

HYDRO Systems KG

 

Company Status:      active

                     Ahfeldstr. 10

                     D 77781 Biberach

                     Telephone:07835/787-700

                     Telefax:  07835/787-701

                     Homepage: www.hydro.de

                     E-mail:   info@hydro.aero

 

 

VAT no.            

 

DE256627297

 

 

Registration data

 

LEGAL FORM               Limited partnership

Date of foundation:          05.11.2007

Registered on:                05.11.2007

Register of

companies:                   Local court 79098 Freiburg

under:                                       HRA 700803

 

 

Total cap. contribution             

 

EUR             50,000.00

 

 

Limited partner

 

                     HYDRO Holding KG

                     Ahfeldstr. 10

                     D 77781 Biberach

                     Legal form: Limited partnership

                     Total cap.         EUR            180,000.00

                     contribution:

                     Share:             EUR             50,000.00

                     Registered on: 28.04.1967

                     Reg. data: 79098 Freiburg, HRA 480100

 

General partner:

                     Irmgard Pfundstein

                     D 77784 Oberharmersbach

                     born: 24.11.1937

                     Marital status: married

General partner:

                     HYDRO Management GmbH

                     Ahfeldstr. 10

                     D 77781 Biberach

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered on: 12.03.2009

                     Reg. data: 79098 Freiburg, HRB 703511

 

Shareholder:

                     HYDRO Holding KG

                     Ahfeldstr. 10

                     D 77781 Biberach

                     Legal form: Limited partnership

                     Total cap.         EUR            180,000.00

                     contribution:

                     Share:             EUR             25,000.00

                     Registered on: 28.04.1967

                     Reg. data: 79098 Freiburg, HRA 480100

Manager:

                     Barbara Huttegger

                     Ricarda-Huch-Str. 7

                     D 24536 Neumünster

                     having sole power of representation

                     born: 25.08.1959

                     née: Pfundstein

Manager:

                     Thomas Besch

                     D 72760 Reutlingen

                     born: 23.07.1966

Manager:

                     Peter Prinz

                     D 29320 Hermannsburg

                     born: 16.08.1968

 

FURTHER FUNCTIONS/PARTICIPATIONS OF IRMGARD PFUNDSTEIN (GENERAL PARTNER)

 

General partner:

                     HYDRO Holding KG

                     Ahfeldstr. 10

                     D 77781 Biberach

                     Legal form: Limited partnership

                     Total cap.         EUR            180,000.00

                     contribution:

                     Registered

                     on:         28.04.1967

                     Reg. data:  79098 Freiburg, HRA 480100

 

 

COMPANY HISTORY

 

05.11.2007 - 08.07.2009  HYDRO Engine Support KG

                         Ahfeldstr. 10

                         D 77781 Biberach

                         Limited partnership

 

 

BUSINESS ACTIVITIES

 

Sectors

28990   Manufacture of other special-purpose machinery n.e.c.

4669    Wholesale of other machinery, equipment and supplies

46741   Wholesale of tools and hardware

 

 

BRANCHES AND FACTORIES

 

Works:

                     HYDRO Systems KG -Produktion-

                     Im Mühlegrün 9

                     D 77716 Haslach

                     TEL.: 07832/8679

Branch:

                     HYDRO Systems KG - Service Station Hamburg

                     Sportallee 85c

                     D 22335 Hamburg

                     TEL.: 040/50049797

                     FAX.: 040/31818088

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

 

REAL ESTATE

 

Type of ownership:   Tenant

Address              Ahfeldstr. 10

                     D 77781 Biberach

 

Type of ownership:   Tenant

Address              Im Mühlegrün 9

                     D 77716 Haslach

 

Real Estate of:      HYDRO Management GmbH

Type of ownership:   Tenant

Address              Ahfeldstr. 10

                     D 77781 Biberach

 

Land register documents were not available.

 

 

BANKERS

 

DEUTSCHE BANK, OFFENBURG

Sort. code: 66470035, BIC: DEUTDE6F664

RAIFFEISENBANK, UMMENDORF, KR BIBERACH AN DER

Sort. code: 60069648, BIC: GENODES1EHZ

 

 

 

FINANCIAL FIGURES

 

Financial year:      01.01. - 31.12.

Turnover:            2011               EUR         66,000,000.00

                     2012               EUR         66,000,000.00

further business figures:

Equipment:                              EUR          1,932,000.00

Ac/ts receivable:                       EUR          2,622,000.00

Liabilities:                            EUR          3,726,000.00

Employees:                                                    276

 

The aforementioned business figures may partly be estimated information based on average values in the line of business.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.57

UK Pound

1

Rs.71.79

Euro

1

Rs.84.25

 

 

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%)

 

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.