MIRA
INFORM REPORT
|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HOFFMANN FORDERTECHNIK GMBH WURZEN |
|
|
|
|
Registered Office : |
Dresdener Strasse 64-68, Wurzen, 04808 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.08.1990 |
|
|
|
|
Com. Reg. No.: |
HRB 570 |
|
|
|
|
Legal Form : |
Private Independent Company |
|
|
|
|
Line of Business : |
manufacturer
of hand operated or power driven lifting, handling, loading or unloading
machinery (pulley tackle and hoists, winches, capstans and jacks; derricks,
cranes, mobile lifting frames, straddle carriers |
|
|
|
|
No. of Employees : |
165 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 6.5% 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.
|
Source : CIA |
Company name & address
HOFFMANN FOrdertechnik GmbH Wurzen
Dresdener Strasse 64-68
Wurzen, 04808
Germany
Tel: +49 (0) 3425 89240
Fax: +49 (0) 3425 892499
Synthesis
Employees: 165
Company Type: Private Independent
Incorporation Date: 07-Aug-1990
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 49.2
Business Description
HOFFMANN Fordertechnik GmbH Wurzen is primarily engaged in manufacture of hand operated or power driven lifting, handling, loading or unloading machinery (pulley tackle and hoists, winches, capstans and jacks; derricks, cranes, mobile lifting frames, straddle carriers,; works trucks, whether or not fitted with lifting or handling equipment whether or not self-propelled, of the type used in factories; mechanical manipulators and industrial robots specifically designed for lifting, handling, loading or unloading); manufacture of conveyors, teleferics.; and manufacture of lifts, escalators and moving walkways. This class also includes: maintenance of lifts and escalators.
Industry
Industry Construction and Agriculture Machinery
ANZSIC 2006: 2462 - Mining and
Construction Machinery Manufacturing
NACE 2002: 2922 - Manufacture
of lifting and handling equipment
NAICS 2002: 33392 - Material
Handling Equipment Manufacturing
UK SIC 2003: 2922 - Manufacture
of lifting and handling equipment
UK SIC 2007: 2822 - Manufacture
of lifting and handling equipment
US SIC 1987: 3535 - Conveyors
and Conveying Equipment
Key Executives
Name Title
Matthias Huhn 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
Dresdener Strasse 64-68
Wurzen, 04808
Germany
Tel: +49 (0) 3425 89240
Fax: +49 (0) 3425 892499
Sales EUR(mil): NA
Assets EUR(mil): 37.9
Employees: 165
Fiscal Year End: 31-Dec-2011
Industry: Construction and
Agriculture Machinery
Incorporation Date: 07-Aug-1990
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(): HRB570
Parent Registered No.(UK): DEU
Managing Director: Matthias Huhn
Industry Codes
ANZSIC 2006 Codes:
2462 - Mining and Construction Machinery Manufacturing
NACE 2002 Codes:
2922 - Manufacture of lifting and handling equipment
NAICS 2002 Codes:
33392 - Material Handling Equipment Manufacturing
US SIC 1987:
3535 - Conveyors and Conveying Equipment
UK SIC 2003:
2922 - Manufacture of lifting and handling equipment
UK SIC 2007:
2822 - Manufacture of lifting and handling equipment
Business
Description
HOFFMANN FOrdertechnik
GmbH Wurzen is primarily engaged in manufacture of hand operated or power
driven lifting, handling, loading or unloading machinery (pulley tackle and
hoists, winches, capstans and jacks; derricks, cranes, mobile lifting frames,
straddle carriers; works trucks, whether or not fitted with lifting or handling
equipment whether or not self-propelled, of the type used in factories; mechanical
manipulators and industrial robots specifically designed for lifting, handling,
loading or unloading); manufacture of conveyors, teleferics.; and manufacture
of lifts, escalators and moving walkways. This class also includes: maintenance
of lifts and escalators.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Executive report
|
Executives |
|
|
|
|
||||
|
Managing director |
Managing Director |
|
Annual profit & loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Taxes and social security costs |
1.3 |
1.1 |
- |
|
Total payroll costs |
8.9 |
7.6 |
- |
|
Fixed asset depreciation and amortisation |
1.7 |
1.6 |
- |
|
Other operating costs |
5.0 |
4.1 |
- |
|
Net operating
income |
10.0 |
9.5 |
- |
|
Other income |
0.1 |
0.2 |
- |
|
Interest payable on loans |
0.2 |
0.2 |
- |
|
Total expenses |
0.1 |
0.0 |
- |
|
Profit before tax |
9.8 |
9.5 |
- |
|
Provisions |
2.3 |
1.6 |
1.5 |
|
Extraordinary expenses |
- |
0.2 |
- |
|
Extraordinary result |
- |
-0.2 |
- |
|
Other taxes |
0.1 |
0.0 |
- |
|
Total taxation |
2.8 |
2.8 |
- |
|
Net profit |
6.9 |
6.5 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
0.6 |
0.7 |
0.7 |
|
Unavailable reserves |
1.4 |
1.6 |
1.7 |
|
Total reserves |
0.6 |
0.6 |
0.6 |
|
Profits for the year |
39.5 |
36.1 |
33.6 |
|
Profit brought forward from previous
year(s) |
33.1 |
29.5 |
27.8 |
|
Total
stockholders equity |
40.8 |
37.3 |
34.9 |
|
Provisions and allowances |
2.2 |
1.6 |
1.6 |
|
Other debentures |
1.3 |
3.0 |
2.5 |
|
Taxes and social security |
1.0 |
1.0 |
1.1 |
|
Total long-term
liabilities |
2.3 |
4.0 |
3.6 |
|
Other loans |
1.8 |
0.4 |
0.2 |
|
Taxation and social security |
0.6 |
0.9 |
0.6 |
|
Due to group companies |
0.0 |
- |
- |
|
Total current
liabilities |
2.4 |
1.3 |
0.8 |
|
Regularisation account |
0.0 |
0.0 |
0.1 |
|
Total
liabilities (including net worth) |
49.2 |
45.9 |
42.6 |
|
Intangibles |
0.1 |
0.1 |
0.1 |
|
Land and buildings |
7.5 |
7.1 |
7.5 |
|
Machinery and tools |
2.3 |
3.0 |
2.2 |
|
Fixtures and equipment |
7.5 |
7.1 |
7.5 |
|
Fixed assets under construction |
- |
0.4 |
- |
|
Total tangible
fixed assets |
11.2 |
11.9 |
11.1 |
|
Shares held in associated companies |
0.3 |
- |
- |
|
Total financial
assets |
0.3 |
- |
- |
|
Total
non-current assets |
11.7 |
12.0 |
11.1 |
|
Net stocks and work in progress |
9.6 |
9.7 |
9.5 |
|
Other receivables |
7.3 |
- |
- |
|
Total
receivables |
7.4 |
6.4 |
5.5 |
|
Owing from associated companies |
0.1 |
- |
- |
|
Cash and liquid assets |
19.7 |
16.9 |
15.7 |
|
Marketable securities |
0.8 |
- |
- |
|
Short-term investments |
0.8 |
0.9 |
0.7 |
|
Total current
assets |
37.5 |
33.9 |
31.4 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
|
Total assets |
49.2 |
45.9 |
42.6 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
154.15 |
257.82 |
374.12 |
|
Acid test ratio |
114.92 |
184.32 |
260.56 |
|
Total liabilities to net worth |
0.01% |
0.01% |
0.01% |
|
Net worth to total assets |
0.08% |
0.08% |
0.08% |
|
Current liabilities to net worth |
0.01% |
0.00% |
0.00% |
|
Current liabilities to stock |
0.03% |
0.01% |
0.01% |
|
Fixed assets to net worth |
0.03% |
0.03% |
0.03% |
|
Return on assets |
0.01% |
0.01% |
- |
|
Shareholders' return |
0.02% |
0.02% |
- |
|
Profit per employee |
3.01 |
3.26 |
- |
|
Average wage per employee |
3.89 |
3.71 |
- |
|
Net worth |
40.8 |
37.3 |
34.9 |
|
Number of employees |
165 |
155 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
UK Pound |
1 |
Rs.89.90 |
|
Euro |
1 |
Rs.77.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.