|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABAKUS
SOLAR AG |
|
|
|
|
Registered Office : |
Leithestr. 39 D 45886 Gelsenkirchen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
27.09.1996 |
|
|
|
|
Com. Reg. No.: |
HRB 9141 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALE OF OTHER
MACHINERY, EQUIPMENT AND SUPPLIES |
|
|
|
|
No. of Employees : |
90 |
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
abakus solar AG
Company Status: active
Leithestr. 39
D 45886
Gelsenkirchen
Telephone:0209/730801-0
Telefax: 0209/730801-99
Homepage:
www.abakus-solar.com
E-mail: info@abakus-solar.de
DE183395499
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 27.09.1996
Registered on: 01.10.2007
Commercial Register: Local court 45879 Gelsenkirchen
under: HRB
9141
EUR 288,600.00
Heiner Breuer
Wiesental 29
D 52068 Aachen
born: 26.04.1967
Share: 33.340 %
Shareholder:
Stefan Rentmeister
Weseler Str.
D 46286 Dorsten
born: 17.03.1965
Share: 33.330 %
Shareholder:
Thomas Siegfried Sandner
D 53859 Niederkassel
born: 02.07.1966
Share: 33.330 %
Member of the Board of Directors:
Thomas Siegfried Sandner
D 53859 Niederkassel
authorized to jointly
represent the company
born: 02.07.1966
Member of the Board of Directors:
Walter Burscheid
D 60308 Frankfurt
authorized to jointly
represent the company
born: 10.11.1966
Proxy:
Heiner Breuer
Wiesental 29
D 52068 Aachen
authorized to jointly
represent the company
born: 26.04.1967
Proxy:
Stefan Rentmeister
Weseler Str.
D 46286 Dorsten
authorized to jointly
represent the company
born: 17.03.1965
Proxy:
Roland Wigger
D 50667 Köln
authorized to jointly
represent the company
born: 05.06.1967
Proxy:
Karl Erhard Krausen
D 53902 Bad Münstereifel
authorized to jointly
represent the company
born: 22.02.1952
Proxy:
Frank Polhaus
D 80331 München
authorized to jointly
represent the company
born: 18.01.1967
Further functions/participations of Thomas Siegfried
Sandner
(Member of the Board of Directors)
Manager:
abakus solar pro 1
Verwaltungs GmbH
Leithestr. 39
D 45886 Gelsenkirchen
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 16.04.2013
Reg. data: 45879 Gelsenkirchen, HRB 12013
25.11.1996 - 12.1997 "abakus Energiesysteme GmbH"
Munscheidstr. 14
D 45886 Gelsenkirchen
Private limited
company
12.1997 - 01.10.2007 "abakus Energiesysteme GmbH"
Leithestr. 39
D 45886 Gelsenkirchen
Private limited
company
Main industrial sector
4669
Wholesale of other machinery, equipment and supplies
71122
Engineering activities in the field of technical sectoral planning
andengineering design
71129
Other engineering activities
7219
Other research and experimental development on natural sciences and
engineering
Branch:
abakus solar AG
Wilhelm-Mauser-Str. 14-16
D 50827 Köln
Branch:
abakus solar AG
Auenstr. 31
D 80469 München
TEL.: 089/20209478
FAX.: 089/20209479
Limited partner:
abakus solar pro 1 GmbH
& Co. KG
Wilhelm-Mauser-Str. 14-16
D 50827 Köln
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 100.00
contribution:
Share: EUR 100.00
Reg. data: 23.07.2012
Local court
50939 Köln
HRA 29238
Shareholder:
abakus solar power GmbH
Im Zollhafen 18/Kranhaus
1
D 50678 Köln
Legal form: Private
limited company
Company Status: active
Share capital: EUR 525,000.00
Share: EUR 5,000.00
Reg. data: 09.03.2012
Local court
50939 Köln
HRB 74951
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Leithestr. 39
D 45886 Gelsenkirchen
Land
register documents were not available.
SPARKASSE GELSENKIRCHEN, GELSENKIRCHEN
Sort. code: 42050001, BIC: WELADED1GEK
Turnover: 2011 EUR 90,986,798.00
2012 EUR 90,500,000.00
Profit: 2011 EUR -1,031,434.00
further business figures:
Equipment: EUR 236,037.00
Ac/ts receivable: EUR 6,611,618.00
Liabilities: EUR 5,717,726.00
Total numbers of vehicles: 13
-
Lorries:
1
-
Passenger cars:
12
Employees:
90
-
Trainees:
2
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 38.10
Liquidity ratio: 1.44
Return on total capital [%]: -8.82
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 28.69
Liquidity ratio: 0.27
Return on total capital [%]: 6.85
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 39.21
Liquidity ratio: 2.89
Return on total capital [%]: 3.30
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 11.03
Liquidity
ratio: 0.30
Return on total capital [%]: -1.11
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: 01.01.2011 - 31.12.2011
ASSETS EUR 11,692,508.60
Fixed assets
EUR 1,643,985.27
Intangible assets EUR 61,307.00
Concessions, licences, rights
EUR 61,307.00
Tangible assets
EUR 419,810.21
Plant / machinery
EUR 77,862.00
Other tangible assets / fixtures and
fittings
EUR 236,037.00
Advance payments made / construction
in progress
EUR 105,911.21
Financial assets
EUR 1,162,868.06
Shares in participations /
subsidiaries and the like
EUR 184,719.47
Shares in related companies
EUR 125,103.50
Shares in investee companies
EUR 59,615.97
Loans
to participations /
subsidiaries and the like
EUR 828,148.59
Loans to related companies
EUR 828,148.59
Other loans
EUR 150,000.00
Current assets EUR 9,992,809.07
Stocks
EUR 2,242,122.72
Raw materials, consumables and
supplies
EUR 1,740,589.29
Finished goods / work in progress
EUR 1,089,618.50
Advance payments made
EUR 538,941.30
Minus received advance payments for
orders / installments for stocks
EUR -1,127,026.37
Accounts receivable
EUR 6,611,617.95
Trade debtors
EUR 5,050,397.75
Amounts due from related companies
EUR 1,262,041.47
Amounts due from investee companies
EUR 20,576.13
Other debtors and assets
EUR 278,602.60
Liquid means
EUR 1,139,068.40
Remaining other assets
EUR 55,714.26
Accruals (assets)
EUR 55,714.26
LIABILITIES EUR
11,692,508.60
Shareholders' equity
EUR 4,454,822.71
Capital
EUR 216,400.00
Subscribed capital (share capital)
EUR 216,400.00
Reserves EUR 3,869,287.22
Capital reserves
EUR 3,869,287.22
Balance sheet profit/loss (+/-)
EUR 369,135.49
Profit / loss brought forward
EUR 1,400,569.34
Annual
surplus / annual deficit EUR -1,031,433.85
Provisions
EUR 1,519,960.22
Provisions for taxes
EUR 358,194.33
Other / unspecified provisions
EUR 1,161,765.89
Liabilities
EUR 5,717,725.67
Financial debts
EUR 3,925,682.92
Liabilities due to banks
EUR 3,925,682.92
Other liabilities
EUR 1,792,042.75
Trade creditors (for IAS incl. bills
of exchange)
EUR 719,849.28
Liabilities due to investee companiesEUR 237,695.38
Unspecified other liabilities
EUR 834,498.09
thereof liabilities from tax /
financial authorities
EUR 756,318.35
thereof liabilities from social
security
EUR 7,089.69
Guarantees and other commitments
EUR 2,115,193.18
Guarantees / warranties
EUR 1,000,000.00
Guarantees
EUR 1,000,000.00
Liability from creation of a security
interest for third parties
EUR 1,115,192.18
Other guarantees and other commitmentsEUR 1.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 90,986,797.96
Inventory change + own costs (+/-)
EUR -8,975,628.37
Inventory change (+/-)
EUR -9,081,539.58
Capitalised own costs
EUR 105,911.21
Other operating income
EUR 290,929.85
Cost of materials EUR 72,184,177.20
Raw materials and supplies, purchased
goods
EUR 65,178,980.24
Purchased services
EUR 7,005,196.96
Gross result (+/-) EUR 10,117,922.24
Staff expenses
EUR 4,254,536.60
Wages and salaries
EUR 3,587,910.58
Social security contributions and
expenses for pension plans and
benefits EUR 666,626.02
Total depreciation
EUR 130,450.50
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 130,450.50
Other operating expenses
EUR 3,588,859.20
Operating result from continuing
operations
EUR 2,144,075.94
Interest result (+/-)
EUR -317,563.39
Interest and similar income
EUR 141,509.43
thereof from related companies
EUR 13,337.01
Interest and similar expenses
EUR 459,072.82
Other financial result
EUR -2,217,115.24
Income from securities and loans from
financial assets
EUR 12,636.23
thereof related companies
EUR 7,182.06
Depreciation on financial assets and
marketable securities
EUR 2,229,751.47
Financial result (+/-)
EUR -2,534,678.63
Result from ordinary operations (+/-)
EUR -390,602.69
Income tax / refund of income tax (+/-)EUR -638,661.91
Other taxes / refund of taxes
EUR -2,169.25
Tax
(+/-)
EUR -640,831.16
Annual surplus / annual deficit
EUR -1,031,433.85
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 20,631,903.82
Fixed assets
EUR 2,677,445.28
Intangible assets
EUR 15,454.00
Concessions, licences, rights
EUR 15,454.00
Tangible assets
EUR 170,810.00
Plant / machinery
EUR 83,512.00
Other tangible assets / fixtures and
fittings
EUR 87,298.00
Financial assets
EUR 2,491,181.28
Shares in participations /
subsidiaries and the like
EUR 961,508.28
Shares in related companies
EUR 81,429.81
Shares in investee companies
EUR 880,078.47
Loans to participations /
subsidiaries and the like
EUR 1,529,673.00
Loans to related companies
EUR 180,000.00
Loans
to investee companies EUR 1,349,673.00
Current assets
EUR 17,894,155.02
Stocks
EUR 14,214,842.40
Raw materials, consumables and
supplies EUR 3,217,776.93
Finished goods / work in progress
EUR 10,171,158.08
Advance payments made
EUR 825,907.39
Accounts receivable
EUR 3,673,105.29
Trade debtors
EUR 2,013,896.33
Amounts due from related companies
EUR 1,272,295.48
Amounts due from investee companies
EUR 165,927.71
Other debtors and assets
EUR 220,985.77
Liquid means EUR 6,207.33
Remaining other assets
EUR 60,303.52
Accruals (assets)
EUR 60,303.52
LIABILITIES EUR 20,631,903.82
Shareholders' equity
EUR 5,919,054.66
Capital
EUR 216,400.00
Subscribed capital (share capital)
EUR 216,400.00
Reserves
EUR 3,869,287.22
Capital reserves
EUR 3,869,287.22
Balance sheet profit/loss (+/-)
EUR 1,833,367.44
Profit / loss brought forward
EUR 419,291.33
Annual surplus / annual deficit
EUR 1,414,076.11
Provisions
EUR 1,069,456.92
Provisions for taxes
EUR 582,640.94
Other / unspecified provisions
EUR 486,815.98
Liabilities EUR 13,643,392.24
Financial debts
EUR 2,706,416.20
Liabilities due to banks
EUR 2,706,416.20
Other liabilities
EUR 10,936,976.04
Trade
creditors (for IAS incl. bills
of exchange)
EUR 1,022,388.82
Liabilities from received advance
payments
EUR 547,067.06
Liabilities due to investee companiesEUR 8,745,002.71
Unspecified other liabilities
EUR 622,517.45
thereof liabilities from tax /
financial authorities
EUR 549,604.73
thereof liabilities from social
security EUR 3,444.52
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 69,311,876.83
Inventory change + own costs (+/-)
EUR 10,122,948.96
Inventory
change (+/-) EUR 10,122,948.96
Other operating income
EUR 220,664.25
Cost of materials
EUR 71,764,344.29
Raw materials and supplies, purchased
goods EUR 69,791,373.09
Purchased services
EUR 1,972,971.20
Gross result (+/-)
EUR 7,891,145.75
Staff expenses
EUR 2,908,193.41
Wages and salaries
EUR 2,473,078.04
Social security contributions and
expenses for pension plans and
benefits
EUR 435,115.37
Total depreciation
EUR 66,345.31
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 66,345.31
Other operating expenses
EUR 2,525,966.72
Operating result from continuing
operations
EUR 2,390,640.31
Interest result (+/-)
EUR -117,121.01
Interest and similar income
EUR 67,190.23
Interest and similar expenses
EUR 184,311.24
Other financial result
EUR -36,039.83
Depreciation on financial assets and
marketable securities
EUR 36,039.83
Financial result (+/-)
EUR -153,160.84
Result from ordinary operations (+/-)
EUR 2,237,479.47
Income tax / refund of income tax (+/-)EUR -822,311.61
Other taxes / refund of taxes
EUR -1,091.75
Tax
(+/-)
EUR -823,403.36
Annual surplus / annual deficit
EUR 1,414,076.11
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.