|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
BONFIGLIOLI VECTRON GMBH |
|
|
|
|
Registered Office : |
Europark Fichtenhain B 6 D 47807 Krefeld |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
24.06.1977 |
|
|
|
|
Com. Reg. No.: |
HRB 5188 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of electric motors, generators and transformators |
|
|
|
|
No. of Employees : |
80 |
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
Bonfiglioli Vectron GmbH
Company Status: active
Europark Fichtenhain B 6
D 47807
Krefeld
Telephone:02151/8396-0
Telefax: 02151/8396-999
Homepage:
www.vectron.net
E-mail: info@vectron.net
DE811516222
117/5841/0428
LEGAL FORM Private limited company
Date of foundation: 24.06.1977
Shareholders'
agreement: 24.06.1977
Registered on: 20.12.1993
Commercial Register: Local court
47798 Krefeld
under: HRB 5188
EUR 500,000.00
Bonfiglioli
Deutschland GmbH
Sperberweg 12
D 41468 Neuss
Legal form:
Private limited company
Share
capital: EUR 3,000,000.00
Share: EUR 500,000.00
Registered
on: 24.02.2000
Reg. data:
41460 Neuss, HRB 9981
Control and
profit transfer agreement
Manager:
Tiziano
Pacetti
I Sasso Marconi (BO)
having sole
power of representation
born:
09.05.1960
Nationality:
Italian
Manager:
Sonia
Bonfiglioli -Kauffrau-
I - Bologna
having sole
power of representation
born: 25.11.1963
Nationality:
Italian
Manager:
Massimo Sarti
I Castel Maggiore(BO)
having sole
power of representation
born:
18.12.1966
Nationality: Italian
Proxy:
Dirk Henrik
Rüge
Diltheystr.
33
D 41239
Mönchengladbach
having sole
power of representation
born:
11.04.1974
Proxy:
Olaf Donner
Cahn-Weg 18
D 41366
Schwalmtal
having sole
power of representation
born:
20.10.1963
Proxy:
Frank Leo
Schramm
D 47929 Grefrath
having sole
power of representation
born:
01.02.1972
FURTHER
FUNCTIONS/PARTICIPATIONS OF SONIA BONFIGLIOLI -KAUFFRAU-
(MANAGER)
Manager:
Bonfiglioli Deutschland
GmbH
Sperberweg 12
D 41468 Neuss
Legal form:
Private limited company
Share
capital: EUR 3,000,000.00
Registered
on: 24.02.2000
Reg.
data: 41460 Neuss, HRB 9981
20.12.1993 - 20.01.2005 VECTRON
Elektronik GmbH
Europark
Fichtenhain A 6
D 47807
Krefeld
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
05.04.2006 - 05.03.2012 Manager
Dr.
Siegfried Stadtfeld
D 42653
Solingen
Main industrial sector
27110 Manufacture of electric
motors, generators and transformators
Secondary industrial sector
26511 Manufacture of instruments
and appliances for measuring, testing and navigation
Payment experience: within agreed
terms
Negative information:We have no negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Europark
Fichtenhain B 6
D 47807
Krefeld
Land register documents were not available.
Principal bank
COMMERZBANK, MÖNCHENGLADBACH
Sort. code: 31040015, BIC: COBADEFF310
Further bank
DEUTSCHE BANK, MÖNCHENGLADBACH
Sort. code: 31070001, BIC: DEUTDEDD310
Ac/ts
receivable:
EUR 16,431,760.00
Liabilities: EUR 22,472,364.00
Total
numbers of vehicles: 10
Employees:
80
-
thereof permanent staff:
80
Control and profit transfer agreement to:
Bonfiglioli
Deutschland GmbH
Sperberweg 12
D 41468 Neuss
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 15.81
Liquidity
ratio: 0.82
Return
on total capital [%]: 40.33
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity
ratio [%]: 22.43
Liquidity
ratio: 1.70
Return
on total capital [%]: -5.55
Balance
sheet ratios 01.01.2008 - 31.12.2008
Equity
ratio [%]: 68.18
Liquidity
ratio: 10.00
Return
on total capital [%]: 32.75
Balance
sheet ratios 01.01.2007 - 31.12.2007
Equity
ratio [%]: 39.03
Liquidity
ratio: 2.58
Return
on total capital [%]: 30.25
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 31,717,340.06
Fixed assets EUR 1,688,543.43
Intangible assets EUR 79,950.02
Other / unspecified intangible
assetsEUR 79,950.02
Tangible assets EUR 1,608,593.41
Other / unspecified tangible assets EUR
1,608,593.41
Current assets EUR 29,979,534.85
Stocks EUR 9,993,543.55
Raw materials, consumables and
supplies EUR 3,436,854.38
Finished goods / work in progress EUR
6,556,689.17
Accounts receivable EUR 16,431,759.81
thereof total due from shareholders EUR
1,257,762.38
Trade debtors EUR 4,966,000.45
Amounts due from related companies EUR
10,454,640.78
Other debtors and assets EUR 1,011,118.58
Liquid means EUR 3,554,231.49
Remaining other assets EUR 49,261.78
Accruals (assets) EUR 49,261.78
LIABILITIES EUR 31,717,340.06
Shareholders' equity EUR 5,714,367.15
Capital EUR 500,000.00
Subscribed capital (share capital) EUR 500,000.00
Reserves EUR 2,613,550.25
Capital reserves EUR 113,550.25
Retained earnings / revenue reserves
EUR 2,500,000.00
Balance sheet profit/loss (+/-) EUR 2,600,816.90
Balance sheet profit / loss EUR 2,600,816.90
Provisions EUR 3,530,609.03
Pension provisions and comparable
provisions EUR 450,772.90
Provisions for taxes EUR 1,115.91
Other / unspecified provisions EUR 3,078,720.22
Liabilities EUR 22,472,363.88
Other liabilities EUR 22,472,363.88
Trade creditors (for IAS incl. bills
of exchange) EUR 4,170,068.59
Liabililties due to related
companiesEUR 18,125,224.62
Unspecified other liabilities EUR 177,070.67
thereof liabilities from tax /
financial authorities EUR 148,601.60
thereof liabilities from social
security EUR 13,440.04
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 23,319,633.59
Staff expenses EUR 5,877,502.74
Wages and salaries EUR 5,029,547.97
Social security contributions and
expenses for pension plans and
benefits EUR 847,954.77
Total depreciation EUR 365,273.97
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 365,273.97
Other operating expenses EUR 4,657,542.85
Operating result from continuing
operations EUR 12,419,314.03
Interest result (+/-) EUR -147,821.17
Interest and similar income EUR 53,704.89
thereof from related companies EUR 0.00
Interest and similar expenses EUR
201,526.06
thereof paid to related companies EUR 80,674.42
Financial result (+/-) EUR -147,821.17
Result from ordinary operations (+/-) EUR
12,271,492.86
Extraordinary expenses EUR
368,770.00
Extraordinary result (+/-) EUR -368,770.00
Expenses for transfer of profits to a
parent company EUR 11,900,240.77
Income tax / refund of income tax
(+/-)EUR -558.00
Other taxes / refund of taxes EUR -1,924.09
Tax (+/-) EUR -2,482.09
Annual surplus / annual deficit EUR 0.00
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2009 - 31.12.2009
ASSETS EUR 12,192,476.43
Fixed assets EUR 1,516,116.88
Intangible assets EUR 32,650.02
Other / unspecified intangible
assetsEUR 32,650.02
Tangible assets EUR 1,483,466.86
Other / unspecified tangible assets EUR
1,483,466.86
Current assets EUR 10,578,606.70
Stocks EUR 2,309,320.82
Raw materials, consumables and
supplies EUR 1,239,568.25
Finished goods / work in progress EUR
1,069,752.57
Accounts receivable EUR 8,207,366.63
thereof total due from shareholders EUR
3,824,814.57
Trade debtors EUR 1,682,166.37
Amounts due from related companies EUR
4,627,850.99
Other debtors and assets EUR 1,897,349.27
Liquid means EUR 61,919.25
Remaining other assets EUR 97,752.85
Accruals (assets) EUR 97,752.85
LIABILITIES EUR 12,192,476.43
Shareholders' equity EUR 5,714,367.15
Capital EUR 500,000.00
Subscribed capital (share capital) EUR 500,000.00
Reserves EUR 2,613,550.25
Capital reserves EUR 113,550.25
Retained earnings / revenue reserves
EUR 2,500,000.00
Balance sheet profit/loss (+/-) EUR
2,600,816.90
Balance sheet profit / loss EUR 2,600,816.90
Provisions EUR 3,837,162.00
Pension provisions and comparable
provisions EUR 1,761,423.00
Provisions for taxes EUR 1,116.00
Other / unspecified provisions EUR 2,074,623.00
Liabilities EUR 2,640,947.28
Financial debts EUR 273,701.68
Liabilities due to banks EUR 273,701.68
Other liabilities EUR 2,367,245.60
Trade creditors (for IAS incl. bills
of exchange) EUR 2,230,423.48
Liabililties due to related
companiesEUR 45,524.47
Unspecified other liabilities EUR 91,297.65
thereof liabilities from tax /
financial authorities EUR 68,194.28
thereof liabilities from social
security EUR 7,458.45
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 6,476,301.39
Staff expenses EUR 4,350,936.76
Wages and salaries EUR 3,654,458.10
Social security contributions and
expenses for pension plans and
benefits EUR 696,478.66
Total depreciation EUR 358,861.55
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 358,861.55
Other operating expenses EUR 2,336,290.95
Operating result from continuing
operations EUR -569,787.87
Interest result (+/-) EUR 67,463.80
Interest and similar income EUR 70,281.06
thereof from related companies EUR 44,098.85
Interest and similar expenses EUR 2,817.26
Financial result (+/-) EUR 67,463.80
Result from ordinary operations (+/-) EUR
-502,324.07
Income from assumption of loss by
parent company EUR 463,713.58
Income tax / refund of income tax
(+/-)EUR 41,378.85
Other taxes / refund of taxes EUR -2,768.36
Tax (+/-) EUR 38,610.49
Annual surplus / annual deficit EUR 0.00
There
may have been some changes since our last research took
place.
Therefore, a freshly researched report will follow
shortly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.89 |
|
|
1 |
Rs.84.92 |
|
Euro |
1 |
Rs.72.51 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.