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Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KLINGELNBERG GMBH |
|
|
|
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Registered Office : |
Peterstrasse 45 Huckeswagen, 42499 |
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Country : |
Germany |
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|
|
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
30.08.1996 |
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|
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Com. Reg. No.: |
HRB37950 |
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Legal Form : |
Private Subsidiary |
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|
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Line of Business : |
Machine Tool and Parts Manufacturing |
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|
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No. of Employees : |
785 |
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 |
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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 |
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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
Klingelnberg GmbH
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Business
Description
|
Klingelnberg GmbH is primarily engaged in manufacture of machine tools
for working metal operated by laser and the like: machining centres and the
like; manufacture of lathes, boring and milling machines for working metals;
manufacture of other machine tools for working metal; and manufacture of
parts and accessories for metalworking machine-tools. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
3545 - Cutting Tools, Machine Tool Accessories, and
Machinists' Precision Measuring Devices |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7534632
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Klingelnberg
GmbH |
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|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
ZĂ¼rich |
Switzerland |
Miscellaneous Capital Goods |
|
150 |
|
|
Subsidiary |
HĂ¼ckeswagen, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
218.9 |
785 |
|
|
Subsidiary |
Gorgonzola, Milano |
Italy |
Construction and Agriculture Machinery |
3.5 |
12 |
|
|
Subsidiary |
Queretaro, Queretaro |
Mexico |
Auto and Truck Parts |
2.0 |
8 |
Executives
Report
|
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
218.9 |
158.1 |
162.6 |
|
Raw materials and services |
78.0 |
58.9 |
49.6 |
|
Net sales |
218.9 |
158.1 |
162.6 |
|
Change in stock |
-1.6 |
8.4 |
-3.3 |
|
Own work capitalised |
0.0 |
0.3 |
4.1 |
|
Other operating income |
10.0 |
8.1 |
1.9 |
|
Raw materials and consumables employed |
78.0 |
58.9 |
49.6 |
|
Other external charges |
15.5 |
10.4 |
8.0 |
|
Cost of goods sold |
93.5 |
69.3 |
57.6 |
|
Cost of raw materials |
93.5 |
69.3 |
57.6 |
|
Taxes and social security costs |
9.5 |
8.7 |
10.6 |
|
Total payroll costs |
68.8 |
52.8 |
62.2 |
|
Fixed asset depreciation and amortisation |
7.7 |
8.8 |
10.3 |
|
Other operating costs |
40.7 |
28.9 |
31.4 |
|
Net operating income |
16.7 |
15.1 |
3.9 |
|
Other income |
0.1 |
0.2 |
0.1 |
|
Interest payable on loans |
2.1 |
2.1 |
3.4 |
|
Total expenses |
2.0 |
1.9 |
3.3 |
|
Profit before tax |
14.7 |
13.2 |
0.6 |
|
Extraordinary income |
- |
0.1 |
- |
|
Provisions |
38.2 |
34.3 |
42.5 |
|
Extraordinary expenses |
- |
0.1 |
- |
|
Extraordinary result |
- |
0.0 |
- |
|
Other taxes |
0.1 |
0.1 |
0.1 |
|
Total taxation |
3.8 |
5.2 |
0.2 |
|
Net profit |
10.8 |
8.0 |
0.3 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
20.4 |
21.8 |
20.8 |
|
Capital reserves |
13.5 |
14.4 |
13.7 |
|
Profits for the year |
30.4 |
28.5 |
19.0 |
|
Total stockholders equity |
64.2 |
64.6 |
53.4 |
|
Deferred taxation |
4.2 |
5.6 |
0.9 |
|
Other provisions |
21.6 |
19.7 |
28.9 |
|
Provision for pensions |
11.0 |
11.6 |
10.9 |
|
Provisions and allowances |
36.9 |
36.9 |
40.8 |
|
Other debentures |
5.4 |
9.0 |
10.9 |
|
Trade accounts payable |
0.0 |
0.0 |
- |
|
Owing to group/associated companies |
- |
- |
10.8 |
|
Total long-term liabilities |
5.4 |
9.1 |
21.7 |
|
Trade creditors |
18.4 |
19.1 |
10.4 |
|
Advances received |
3.7 |
5.0 |
2.5 |
|
Other loans |
3.4 |
2.4 |
2.3 |
|
Taxation and social security |
12.1 |
14.0 |
2.2 |
|
Due to group companies |
0.8 |
3.3 |
1.8 |
|
Total current liabilities |
38.4 |
43.7 |
19.2 |
|
Total liabilities (including net worth) |
144.9 |
154.3 |
135.2 |
|
Patents |
1.0 |
0.6 |
1.0 |
|
Goodwill |
- |
- |
0.1 |
|
Intangibles |
1.0 |
0.8 |
1.1 |
|
Land and buildings |
31.0 |
34.2 |
33.6 |
|
Machinery and tools |
14.5 |
20.3 |
24.6 |
|
Fixtures and equipment |
31.0 |
34.2 |
33.6 |
|
Fixed assets under construction |
- |
0.4 |
0.0 |
|
Total tangible fixed assets |
51.6 |
60.2 |
63.7 |
|
Deposits |
0.0 |
0.0 |
0.0 |
|
Total financial assets |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
52.6 |
61.1 |
64.8 |
|
Net stocks and work in progress |
52.1 |
53.8 |
43.3 |
|
Trade debtors |
29.2 |
16.8 |
22.3 |
|
Other receivables |
9.4 |
20.4 |
2.2 |
|
Total receivables |
39.6 |
39.0 |
26.5 |
|
Owing from associated companies |
1.0 |
1.9 |
2.0 |
|
Cash and liquid assets |
0.4 |
0.0 |
0.3 |
|
Total current assets |
92.1 |
92.9 |
70.1 |
|
Prepaid expenses and deferred costs |
0.2 |
0.4 |
0.3 |
|
Total assets |
144.9 |
154.3 |
135.2 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
23.96 |
21.24 |
36.43 |
|
Acid test ratio |
10.40 |
8.93 |
13.92 |
|
Total liabilities to net worth |
0.07% |
0.08% |
0.08% |
|
Net worth to total assets |
0.04% |
0.04% |
0.04% |
|
Current liabilities to net worth |
0.06% |
0.07% |
0.04% |
|
Current liabilities to stock |
0.07% |
0.08% |
0.04% |
|
Fixed assets to net worth |
0.08% |
0.09% |
0.12% |
|
Collection period |
504.00 |
361.00 |
522.00 |
|
Stock turnover rate |
2.47 |
3.17 |
2.78 |
|
Profit margin |
0.00% |
0.01% |
0.00% |
|
Return on assets |
0.01% |
0.01% |
0.00% |
|
Shareholders' return |
0.02% |
0.01% |
0.00% |
|
Sales per employee |
20.27 |
15.86 |
13.88 |
|
Profit per employee |
1.00 |
0.80 |
0.03 |
|
Average wage per employee |
6.37 |
5.29 |
5.31 |
|
Net worth |
64.2 |
64.6 |
53.4 |
|
Number of employees |
785 |
755 |
830 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.36 |
|
|
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.98 |
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.