|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
FLOTTWEG SE |
|
|
|
|
Registered Office : |
Industriestr. 6-8 D 84137 Vilsbiburg Post Box 1160, D 84131 Vilsbiburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
1911 |
|
|
|
|
Com. Reg. No.: |
HRB 8839 |
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|
|
|
Legal Form : |
European Company (SE) |
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|
|
|
Line of Business : |
Manufacture of other general-purpose machinery |
|
|
|
|
No. of Employees : |
486 |
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 (31.03.2012) |
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 |
FLOTTWEG SE
Company Status: active
Industriestr. 6-8
D 84137 Vilsbiburg
Post Box:
1160,
D 84131 Vilsbiburg
Telephone:08741/301-0
Telefax: 08741/301-300
Homepage: www.flottweg.com
E-mail: mail@flottweg.com
VAT no.: DE811140623
The company is considered solvent for credits within its scope of
business.
LEGAL FORM European Company (SE)
Date of foundation: 1911
Registered on: 15.03.2012
Commercial Register: Local
court 84028 Landshut
under: HRB
8839
Share capital:
EUR 10,000,000.00
Shareholder:
Peter
Bruckmayer
Raffelberger
Str. 12 OT
Eberspoint
D 84149
Velden
born:
20.10.1943
Share: 55.000 %
Member of the Board of Directors:
Georg
Schwinghammer
Rosenstr. 7
D 84137
Vilsbiburg
authorized to jointly
represent the company
born:
04.11.1949
Member of the Board of Directors:
Manfred
Schlarb
Braunsberger
Weg 8
D 84137
Vilsbiburg
authorized to jointly represent
the company
born:
30.09.1956
Member of the Board of Directors:
Fritz Colesan
Hochstaufenweg 2
D 84034
Landshut
authorized to jointly represent the
company
born:
16.09.1959
Member of the Board of Directors:
Knut Pantel
Carl-Orff-Str. 7
D 84155
Bodenkirchen
authorized to jointly represent the company
born:
24.03.1966
President of the Supervisory Board:
Peter
Bruckmayer
D 84137
Vilsbiburg
Proxy:
Friedrich
Hofer
D 84137 Vilsbiburg
authorized to
jointly represent the company
born:
28.06.1952
Proxy:
Klaus Ertl
Biburger
Feldweg 5
D 84137
Vilsbiburg
authorized to jointly represent the
company
born:
15.09.1963
Proxy:
Werner Santl
D 84137
Vilsbiburg
authorized to
jointly represent the company
born: 22.11.1956
Further functions/participations of Georg Schwinghammer (Member
of the Board of Directors)
Shareholder:
JOMAS GmbH
Am
Bruckerfeld 11
D 82547
Eurasburg
Legal form: Private limited company
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 11.06.2002
Reg. data: 80333 München, HRB 143065
Shareholder:
Flottweg
Verwaltungs-GmbH
Industriestr.
6-8
D 84137
Vilsbiburg
Legal form:
Private limited company
dissolved
Share
capital: EUR 25,000.00
Share: EUR 850.00
Registered
on: 29.07.2002
Reg. data:
84028 Landshut, HRB 5872
Manager:
JOMAS GmbH
Am
Bruckerfeld 11
D 82547
Eurasburg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 11.06.2002
Reg.
data: 80333 München, HRB 143065
Proxy:
Flottweg
Verwaltungs-GmbH
Industriestr.
6-8
D 84137
Vilsbiburg
Legal form:
Private limited company
dissolved
Share
capital: EUR 25,000.00
Registered
on:
29.07.2002
Reg.
data: 84028 Landshut, HRB 5872
Further functions/participations of Manfred Schlarb (Member of
the Board of Directors)
Shareholder:
SCAM GmbH
Am
Bruckerfeld 11
D 82547 Eurasburg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Share: EUR 14,900.00
Registered
on: 11.06.2002
Reg.
data: 80333 München, HRB 143067
Shareholder:
Flottweg
Verwaltungs-GmbH
Industriestr.
6-8
D 84137
Vilsbiburg
Legal form: Private limited company
dissolved
Share
capital: EUR 25,000.00
Share: EUR 850.00
Registered
on: 29.07.2002
Reg.
data: 84028 Landshut, HRB 5872
Manager:
SCAM GmbH
Am
Bruckerfeld 11
D 82547
Eurasburg
Legal form: Private
limited company
Share
capital: EUR 25,000.00
Registered
on: 11.06.2002
Reg.
data: 80333 München, HRB 143067
Proxy:
Flottweg
Verwaltungs-GmbH
Industriestr.
6-8
D 84137
Vilsbiburg
Legal form:
Private limited company
dissolved
Share
capital: EUR 25,000.00
Registered
on: 29.07.2002
Reg.
data: 84028 Landshut, HRB 5872
Further functions/participations of Fritz Colesan (Member of the
Board of Directors)
Shareholder:
Alimat GmbH
Am
Bruckerfeld 11
D 82547
Eurasburg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Share: EUR 12,900.00
Registered
on: 02.01.2003
Reg.
data: 80333 München, HRB 145989
Manager:
Alimat GmbH
Am
Bruckerfeld 11
D 82547 Eurasburg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 02.01.2003
Reg.
data: 80333 München, HRB 145989
Proxy:
Flottweg
Verwaltungs-GmbH
Industriestr.
6-8
D 84137
Vilsbiburg
Legal form:
Private limited company
dissolved
Share
capital: EUR 25,000.00
Registered
on: 29.07.2002
Reg.
data: 84028 Landshut, HRB 5872
Further functions/participations of Knut Pantel (Member of the
Board of Directors)
Shareholder:
KAP GmbH
Am
Bruckerfeld 11
D 82547
Eurasburg
Legal form:
Private limited company
Share
capital: EUR
25,000.00
Share: EUR 12,750.00
Registered
on: 24.11.2008
Reg.
data: 80333 München, HRB 176363
Manager:
KAP GmbH
Am
Bruckerfeld 11
D 82547
Eurasburg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 24.11.2008
Reg.
data: 80333 München, HRB 176363
1911 - 1931 Otto
Motorenwerke
D 80333
München
Other
legal form
1932 - 1942 Dr. Georg Brückmayer GmbH
D 80333
München
Private
limited company
1943 - 22.02.1984 Dr. Georg
Brückmayer GmbH
D 84137
Vilsbiburg
Private
limited company
22.02.1984 - 05.04.1988
Flottweg-Werk Bird Maschine GmbH (HRB
1004)
Industriestr. 6-8
D 84137
Vilsbiburg
Private
limited company
05.04.1988 - 22.11.2002 Flottweg
GmbH (HRB 1004)
Industriestr. 6-8
D 84137
Vilsbiburg
Private
limited company
22.11.2002 - 20.07.2007 Flottweg
GmbH & Co. KGaA (AG Landshut,
HRB 5945)
Industriestr. 6-8
D 84137
Vilsbiburg
Partnership limited by shares
21.07.2007 - 15.03.2012 Flottweg
AG (HRA 7231, AG Landshut)
Industriestr. 6-8
D 84137
Vilsbiburg
Public
limited company
17.02.2011 - 22.03.2012
Vice-president of the Supervisory Board
Joachim
Weiershaus
D 84137
Vilsbiburg
17.02.2011 - 22.03.2012 Member of
the Supervisory Board
Mag.
Christian Nimmervoll
A -
Grieskirchen
06.07.2005 - 17.02.2011
Vice-president of the Supervisory Board
Dr. Jörg
Starke
D 55234
Eppelsheim
06.07.2005 - 17.02.2011 Member of
the Supervisory Board
Klaus
Kirchesch
D 40822
Mettmann
24.01.2003 - 17.02.2011 President
of the Supervisory Board
Mag.
Christian Nimmervoll
A -
Grieskirchen
Sectors
28290 Manufacture of other
general-purpose machinery
71122 Engineering activities in
the field of technical sectoral planning andengineering design
Branch:
Flottweg SE
Handelsplatz
2 OT Engelsdorf
D 04319
Leipzig
TEL.:
0341/86898-0
Branch:
Flottweg SE
Rösrather
Str. 265
D 51107 Köln
TEL.:
0221/29991720
Shareholder:
PIA GmbH
Am Bruckerfeld 11
D 82547
Eurasburg
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 204,800.00
Share: EUR 800.00
Reg.
data: 22.02.2008
Local court 80333 München
HRB 172396
Shareholder:
KAP GmbH
Am Bruckerfeld
11
D 82547
Eurasburg
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 100.00
Reg.
data: 24.11.2008
Local court 80333 München
HRB 176363
Shareholder:
KundE GmbH
Kandinskystr.
27
D 81477 München
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 100.00
Reg.
data: 26.05.2003
Local court 80333 München
HRB 147907
Payment experience: cash
discount/within agreed terms
Negative information: We have
no negative information at hand.
Balance sheet year: 2010
Type of ownership: proprietor
Share: 100.00 %
Address Industriestr. 6-8
D 84137 Vilsbiburg
Land register documents were not available.
BAYERISCHE LANDESBANK, MÜNCHEN
Sort. code: 70050000, Account no.: 30176, BIC: BYLADEMMXXX
DEUTSCHE BANK, MÜNCHEN
Sort. code: 70070010, Account no.: 870211000, BIC: DEUTDEMMXXX
Equipment: EUR 2,524,000.00
Ac/ts receivable:
EUR 18,410,000.00
Liabilities:
EUR 16,329,000.00
Employees:
486
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 64.66
Liquidity ratio: 10.00
Return on total capital [%]: 11.31
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
84,191,000.00
Fixed assets EUR 26,343,000.00
Intangible assets EUR 217,000.00
Concessions, licences, rights EUR 217,000.00
Tangible assets EUR 23,159,000.00
Land / similar rights EUR 18,289,000.00
Plant / machinery EUR 2,346,000.00
Other tangible assets / fixtures and
fittings EUR 2,524,000.00
Financial assets EUR 2,967,000.00
Shares in participations /
subsidiaries and the like EUR 2,912,000.00
Shares in related companies EUR 2,911,000.00
Shares in investee companies EUR 1,000.00
Other loans EUR 55,000.00
Current assets EUR 57,761,000.00
Stocks EUR 20,006,000.00
Other / unspecified stocks EUR 27,382,000.00
Minus received advance payments for
orders / installments for stocks EUR
-7,376,000.00
Accounts receivable EUR 18,410,000.00
Trade debtors EUR 9,458,000.00
Other debtors and assets EUR 8,952,000.00
Liquid means EUR 19,345,000.00
Remaining other assets EUR 87,000.00
Accruals (assets) EUR 87,000.00
LIABILITIES EUR 84,191,000.00
Shareholders' equity EUR 54,476,000.00
Capital EUR 10,000,000.00
Subscribed capital (share capital) EUR
10,000,000.00
Reserves EUR 39,418,000.00
Capital reserves EUR 2,018,000.00
Retained earnings / revenue reserves
EUR 37,400,000.00
Balance sheet profit/loss (+/-) EUR 5,058,000.00
Balance sheet profit / loss EUR 5,058,000.00
Provisions EUR 13,386,000.00
Pension provisions and comparable
provisions EUR 1,292,000.00
Other / unspecified provisions EUR 12,094,000.00
Liabilities EUR 16,329,000.00
Financial debts EUR 4,626,000.00
Liabilities due to banks EUR 4,626,000.00
Other liabilities EUR 11,703,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 4,024,000.00
Liabilities from received advance
payments EUR 7,358,000.00
Unspecified other liabilities EUR 321,000.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 99,374,000.00
Manufacturing costs EUR 65,584,000.00
Gross result on sales EUR 33,790,000.00
Distribution costs EUR 16,030,000.00
General administration expenses EUR 3,568,000.00
Research and development costs EUR 2,366,000.00
Other operating income EUR 2,828,000.00
Other operating expenses EUR 1,433,000.00
Operating result from continuing
operations EUR 13,221,000.00
Interest result (+/-) EUR -227,000.00
Financial result (+/-) EUR -227,000.00
Result from ordinary operations (+/-) EUR
12,994,000.00
Income tax / refund of income tax
(+/-)EUR -3,486,000.00
Tax (+/-) EUR -3,486,000.00
Annual surplus / annual deficit EUR 9,508,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.