MIRA
INFORM REPORT
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Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SM MOTORENTEILE GMBH |
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Registered Office : |
Alleenstrasse 70, Asperg, 71679 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.03.1978 |
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Com. Reg. No.: |
HRB301350 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
manufacturer
of diverse parts and accessories of motor vehicles |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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
SM Motorenteile GmbH
Alleenstrasse 70
Asperg, 71679
Germany
Tel: +49 (0) 7141 20470
Fax: +49 (0) 7141 204718
Synthesis
Employees: 25
Company Type: Private Independent
Incorporation Date:
30-Mar-1978
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 10.2
Business Description
SM Motorenteile GmbH is primarily engaged in manufacture of diverse parts and accessories of motor vehicles (brakes, gear boxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes); and manufacture of parts and accessories of bodies for motor vehicles (safety belts, airbags, doors, bumpers). This class also includes: manufacture of inlet and exhaust valves of internal combustion engines.
Industry
Industry Auto and Truck Parts
ANZSIC 2006: 231 - Motor
Vehicle and Motor Vehicle Part Manufacturing
NACE 2002: 3430 - Manufacture
of parts and accessories for motor vehicles and their engines
NAICS 2002: 33631 - Motor
Vehicle Gasoline Engine and Engine Parts Manufacturing
UK SIC 2003: 3430 - Manufacture
of parts and accessories for motor vehicles and their engines
UK SIC 2007: 2932 - Manufacture
of other parts and accessories for motor vehicles
US SIC 1987: 3714 - Motor
Vehicle Parts and Accessories
Key Executives
Name Title
· Oliver Schottle Managing Director
Wolfgang Schottle Managing Director
Stefanie Schottle Managing Director
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Alleenstrasse 70
Asperg, 71679
Germany
Tel: +49 (0) 7141 20470
Fax: +49 (0) 7141 204718
Sales EUR(mil): NA
Assets EUR(mil): 7.9
Employees: 25
Fiscal Year End: 31-Dec-2011
Industry: Auto
and Truck Parts
Incorporation Date: 30-Mar-1978
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(): HRB301350
Parent Registered No.(UK): DEU
Managing director: Oliver
Schottle
Industry Codes
ANZSIC 2006 Codes:
231 - Motor Vehicle and Motor Vehicle Part Manufacturing
2240 - Sheet Metal Product Manufacturing (except Metal Structural
and Container Products)
2299 - Other Fabricated Metal Product Manufacturing Not Elsewhere
Classified
3921 - Motor Vehicle Parts Retailing
3494 - Other Electrical and Electronic Goods Wholesaling
NACE 2002 Codes:
3430 - Manufacture of parts and accessories for motor vehicles and
their engines
2913 - Manufacture of taps and valves
5143 - Wholesale of electrical household appliances and radio and
television goods
2840 - Forging, pressing, stamping and roll forming of metal;
powder metallurgy
5030 - Sale of motor vehicle parts and accessories
NAICS 2002 Codes:
33631 - Motor Vehicle Gasoline Engine and Engine Parts
Manufacturing
33291 - Metal Valve Manufacturing
441310 - Automotive Parts and Accessories Stores
33211 - Forging and Stamping
4236 - Electrical and Electronic Goods Merchant Wholesalers
US SIC 1987:
3714 - Motor Vehicle Parts and Accessories
5064 - Electrical Appliances, Television and Radio Sets
5531 - Auto and Home Supply Stores
346 - Metal Forgings and Stampings
3491 - Industrial Valves
UK SIC 2003:
3430 - Manufacture of parts and accessories for motor vehicles and
their engines
5030 - Sale of motor vehicle parts and accessories
2913 - Manufacture of taps and valves
2840 - Forging, pressing, stamping and roll forming of metal;
powder metallurgy
5143 - Wholesale of electrical household appliances and radio and
television goods
UK SIC 2007:
2932 - Manufacture of other parts and accessories for motor
vehicles
4532 - Retail trade of motor vehicle parts and accessories
2550 - Forging, pressing, stamping and roll-forming of metal;
powder metallurgy
4643 - Wholesale of electrical household appliances
2814 - Manufacture of other taps and valves
Business
Description
SM Motorenteile
GmbH is primarily engaged in manufacture of diverse parts and accessories of
motor vehicles (brakes, gear boxes, axles, road wheels, suspension shock
absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering
wheels, steering columns and steering boxes); and manufacture of parts and
accessories of bodies for motor vehicles (safety belts, airbags, doors,
bumpers). This class also includes: manufacture of inlet and exhaust valves of
internal combustion engines.
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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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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 |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Taxes and social security costs |
0.3 |
0.3 |
0.2 |
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Total payroll costs |
2.3 |
2.1 |
2.2 |
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Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.1 |
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Other operating costs |
1.9 |
1.9 |
1.5 |
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Net operating
income |
1.6 |
0.9 |
0.7 |
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Other income |
0.0 |
0.0 |
0.1 |
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Interest payable on loans |
0.1 |
0.2 |
0.3 |
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Total expenses |
0.1 |
0.2 |
0.2 |
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Profit before tax |
1.5 |
0.7 |
0.5 |
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Provisions |
0.5 |
0.7 |
0.9 |
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Extraordinary expenses |
- |
0.1 |
- |
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Extraordinary result |
- |
-0.1 |
- |
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Other taxes |
- |
- |
0.0 |
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Total taxation |
0.4 |
0.4 |
0.1 |
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Net profit |
1.0 |
0.2 |
0.3 |
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
1.3 |
1.3 |
1.1 |
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Profits for the year |
3.8 |
3.1 |
3.4 |
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Profit brought forward from previous
year(s) |
2.9 |
2.9 |
3.1 |
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Total
stockholders equity |
5.1 |
4.4 |
4.5 |
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Provisions and allowances |
0.5 |
0.7 |
0.9 |
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Other debentures |
0.0 |
- |
- |
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Total long-term
liabilities |
0.0 |
- |
- |
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Trade creditors |
0.8 |
1.2 |
0.9 |
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Other loans |
3.0 |
3.0 |
4.1 |
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Taxation and social security |
0.9 |
0.3 |
0.9 |
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Total current
liabilities |
4.6 |
4.6 |
5.9 |
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Total
liabilities (including net worth) |
10.2 |
9.7 |
11.4 |
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Patents |
- |
0.3 |
0.4 |
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Intangibles |
0.2 |
0.3 |
0.4 |
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Land and buildings |
0.3 |
0.3 |
0.6 |
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Fixtures and equipment |
0.3 |
0.3 |
0.6 |
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Total tangible
fixed assets |
0.4 |
0.5 |
0.8 |
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Long-term investments |
- |
- |
0.0 |
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Shares held in associated companies |
0.0 |
0.0 |
- |
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Total financial
assets |
0.0 |
0.0 |
0.0 |
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Total
non-current assets |
0.7 |
0.8 |
1.2 |
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Net stocks and work in progress |
5.4 |
4.8 |
6.5 |
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Trade debtors |
3.4 |
3.2 |
2.2 |
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Other receivables |
0.2 |
0.4 |
1.0 |
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Total
receivables |
3.6 |
3.6 |
3.2 |
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Cash and liquid assets |
0.6 |
0.4 |
0.4 |
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Total current
assets |
9.6 |
8.8 |
10.1 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
10.2 |
9.7 |
11.4 |
Annual Ratios
Financials in: USD (mil)
|
|
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 |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
20.70 |
19.31 |
17.05 |
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Acid test ratio |
9.09 |
8.77 |
6.08 |
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Total liabilities to net worth |
0.09% |
0.10% |
0.13% |
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Net worth to total assets |
0.05% |
0.05% |
0.04% |
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Current liabilities to net worth |
0.09% |
0.10% |
0.13% |
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Current liabilities to stock |
0.09% |
0.09% |
0.09% |
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Fixed assets to net worth |
0.01% |
0.02% |
0.03% |
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Return on assets |
0.01% |
0.00% |
0.01% |
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Shareholders' return |
0.02% |
0.00% |
0.01% |
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Profit per employee |
2.98 |
0.76 |
0.81 |
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Average wage per employee |
6.60 |
5.71 |
5.02 |
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Net worth |
5.1 |
4.4 |
4.5 |
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Number of employees |
25 |
28 |
31 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.89 |
|
UK Pound |
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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NB |
New Business |
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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.