MIRA
INFORM REPORT
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Report Date : |
05.07.2013 |
IDENTIFICATION DETAILS
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Name : |
HENNECKE GMBH
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Registered Office : |
Birlinghovener Strasse 30, Sankt Augustin, 53757 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1945 |
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Com. Reg. No.: |
HRB10005 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
manufacturer
of machinery for working soft rubber or plastics |
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No. of Employees : |
350 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
No Complaints |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 6.5% 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.
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Source : CIA |
Company name & address
Hennecke GmbH
Birlinghovener Strasse 30
Sankt Augustin, 53757
Germany
Tel: 49-22413390
Fax: 49 (2241) 3 39 2 04
Web: www.hennecke.com
Synthesis
Employees: 350
Company Type: Private Subsidiary
Corporate Family: 11
Companies
Ultimate Parent: ADCURAM Group AG
Incorporation Date: 1945
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 112.5
Total Assets: 63.2
Business Description
Hennecke GmbH is primarily engaged in manufacture of machinery for working soft rubber or plastics or for the manufacture of products of these materials (extruders, moulders, pneumatic tyre making or retreading machines and other machines for making a specific rubber or plastic product); manufacture of printing and bookbinding machines; manufacture of machinery for producing tiles, bricks, shaped ceramic pastes, pipes, graphite electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding boxes for any material; mould bases; moulding patterns; moulds; manufacture of dryers for wood, paper pulp, paper or paperboard; manufacture of centrifugal clothes dryers; manufacture of diverse special machinery and equipment (machines to assemble electric or electronic lamps, tubes (valves) or bulbs; machines for production or hot-working of glass or glassware, glass fibre or yarn; machinery or apparatus for isotopic separation; rope-making machinery, etc.); and manufacture of industrial robots for multiple uses.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 2499 - Other
Machinery and Equipment Manufacturing Not Elsewhere Classified
NACE 2002: 2924 - Manufacture
of other general purpose machinery not elsewhere classified
NAICS 2002: 332999 - All Other
Miscellaneous Fabricated Metal Product Manufacturing
UK SIC 2003: 2924 - Manufacture
of other general purpose machinery not elsewhere classified
UK SIC 2007: 2829 - Manufacture
of other general-purpose machinery n.e.c.
US SIC 1987: 3599 - Industrial
and Commercial Machinery and Equipment, Not Elsewhere Classified
Key Executives
Name Title
Alouis Schmid Managing Director
Rolf Trippler Managing
director
1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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Corporate Family |
Corporate
Structure News: |
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Hennecke
GmbH |
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Hennecke GmbH |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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ADCURAM Group AG |
Parent |
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Subsidiary |
MĂ¼nchen, Bayern |
Germany |
Business Services |
5.5 |
50 |
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Subsidiary |
LĂ¼bbecke, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
180.1 |
700 |
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Subsidiary |
Porta Westfalica, Nordrhein-Westfalen |
Germany |
Appliance and Tool |
0.9 |
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Subsidiary |
LĂ¼bbecke, Nordrhein-Westfalen |
Germany |
Miscellaneous Financial Services |
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Subsidiary |
Sroda Wielkopolska |
Poland |
Miscellaneous Capital Goods |
4.2 |
37 |
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Subsidiary |
Zola Predosa, Bologna |
Italy |
Business Services |
3.1 |
13 |
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Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
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10 |
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Subsidiary |
Sankt Augustin, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
112.5 |
500 |
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Subsidiary |
Lawrence, PA |
United States |
Containers and Packaging |
20.5 |
50 |
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Subsidiary |
Singapore |
Singapore |
Miscellaneous Capital Goods |
0.8 |
13 |
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Executive report
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Executives |
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Managing Director |
Managing Director |
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Managing director |
Managing Director |
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Annual
Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period
Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
112.5 |
86.9 |
90.5 |
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Raw materials and services |
56.6 |
41.5 |
34.4 |
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Net sales |
112.5 |
86.9 |
90.5 |
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Change in stock |
-3.0 |
-1.4 |
-13.3 |
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Own work capitalised |
0.0 |
0.6 |
0.0 |
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Other operating income |
2.9 |
2.6 |
2.7 |
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Raw materials and consumables employed |
56.6 |
41.5 |
34.4 |
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Other external charges |
1.1 |
1.1 |
0.8 |
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Cost of goods sold |
57.8 |
42.6 |
35.2 |
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Cost of raw materials |
57.8 |
42.6 |
35.2 |
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Taxes and social security costs |
5.5 |
4.8 |
5.5 |
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Total payroll costs |
32.3 |
28.5 |
28.9 |
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Fixed asset depreciation and amortisation |
1.0 |
0.9 |
1.2 |
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Other operating costs |
17.5 |
13.1 |
11.0 |
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Net operating income |
4.0 |
3.5 |
3.7 |
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Interest received from loans |
- |
- |
0.5 |
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Other income |
0.1 |
0.5 |
0.2 |
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Interest payable on loans |
1.5 |
1.8 |
2.0 |
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Other expenses |
- |
- |
0.0 |
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Total expenses |
1.4 |
1.3 |
1.3 |
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Profit before tax |
2.6 |
2.2 |
2.4 |
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Extraordinary income |
- |
0.0 |
- |
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Provisions |
34.1 |
29.9 |
31.5 |
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Extraordinary expenses |
0.3 |
0.4 |
- |
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Extraordinary result |
-0.3 |
-0.4 |
- |
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Total taxation |
0.1 |
0.0 |
0.1 |
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Net profit |
2.2 |
1.7 |
2.3 |
Annual
Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
4.6 |
4.8 |
5.1 |
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Capital reserves |
5.6 |
5.8 |
6.2 |
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Profits for the year |
3.0 |
1.0 |
1.3 |
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Total stockholders equity |
13.2 |
11.6 |
12.6 |
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Deferred taxation |
0.1 |
0.0 |
0.0 |
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Other provisions |
6.9 |
5.2 |
5.4 |
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Provision for pensions |
24.8 |
25.1 |
27.1 |
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Provisions and allowances |
31.8 |
30.3 |
32.5 |
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Total long-term liabilities |
- |
- |
0.0 |
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Trade creditors |
12.9 |
4.2 |
4.7 |
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Taxation and social security |
2.5 |
2.7 |
3.6 |
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Due to group companies |
2.8 |
1.1 |
0.9 |
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Total current liabilities |
18.2 |
8.0 |
9.2 |
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Total liabilities (including net worth) |
63.2 |
49.9 |
54.4 |
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Patents |
0.3 |
1.0 |
0.4 |
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Intangibles |
0.9 |
1.0 |
0.4 |
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Machinery and tools |
1.5 |
1.4 |
1.7 |
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Fixed assets under construction |
0.2 |
0.1 |
0.1 |
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Total tangible fixed assets |
2.6 |
2.2 |
2.6 |
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Shares held in associated companies |
12.9 |
13.1 |
13.0 |
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Total financial assets |
12.9 |
13.1 |
13.0 |
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Total non-current assets |
16.4 |
16.3 |
15.9 |
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Net stocks and work in progress |
12.3 |
8.4 |
2.1 |
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Trade debtors |
14.8 |
6.3 |
5.3 |
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Other receivables |
0.2 |
0.7 |
1.3 |
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Total receivables |
25.0 |
16.5 |
14.1 |
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Owing from associated companies |
10.0 |
9.5 |
7.6 |
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Cash and liquid assets |
8.2 |
8.7 |
22.2 |
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Recoverable taxation |
1.4 |
- |
- |
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Total current assets |
45.5 |
33.7 |
38.3 |
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Prepaid expenses and deferred costs |
- |
- |
0.1 |
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Total assets |
63.2 |
49.9 |
54.4 |
Annual
Ratios
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
25.00 |
41.83 |
41.53 |
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Acid test ratio |
18.23 |
31.34 |
39.30 |
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Total liabilities to net worth |
0.14% |
0.07% |
0.07% |
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Net worth to total assets |
0.02% |
0.02% |
0.02% |
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Current liabilities to net worth |
0.14% |
0.07% |
0.07% |
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Current liabilities to stock |
0.15% |
0.10% |
0.45% |
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Fixed assets to net worth |
0.12% |
0.14% |
0.13% |
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Collection period |
511.00 |
263.00 |
204.00 |
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Stock turnover rate |
1.17 |
0.96 |
0.22 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.01% |
0.01% |
0.01% |
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Shareholders' return |
0.02% |
0.02% |
0.02% |
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Sales per employee |
23.12 |
18.63 |
18.27 |
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Profit per employee |
0.51 |
0.45 |
0.47 |
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Average wage per employee |
6.63 |
6.11 |
5.83 |
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Net worth |
13.2 |
11.6 |
12.6 |
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Number of employees |
350 |
352 |
356 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
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UK Pound |
1 |
Rs.91.58 |
|
Euro |
1 |
Rs.78.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.