MIRA INFORM REPORT

 

 

Report Date :

03.05.2013

 

IDENTIFICATION DETAILS

 

Name :

BONFIGLIOLI DEUTSCHLAND GMBH

 

 

Registered Office :

Sperberweg 12, D 41468 Neuss

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

25.04.1989

 

 

Com. Reg. No.:

HRB 9981

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Agents involved in the sale of machinery, industrial  equipment, shipsand aircraft

 

 

No. of Employees :

93

 

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

 

Comapny Name and Address

 

Bonfiglioli Deutschland GmbH

 

 Company Status:          active

                                    Sperberweg 12

                                    D 41468 Neuss

                                    Telephone:02131/29880

                                    Telefax:  02131/2988100

                                     Homepage: www.bonfiglioli.de

                                     E-mail:   info@bonfiglioli.de

 

 

VAT no.         

 

DE113535553

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company Status

 

 LEGAL FORM              Private limited company

 Date of foundation:        25.04.1989

 Shareholders'

 agreement:                   25.04.1989

 Registered on:              24.02.2000

 Commercial Register:    Local court 41460 Neuss

 under:                          HRB 9981

 

 

 Share capital                      

 

 EUR          3,000,000.00

 

 

 Shareholder

                      Bonfiglioli Riduttori S.p.A.

                      I - Calderara di Reno

                      Legal form: Other legal form

                      Share:             EUR          3,000,000.00

 Manager:

                      Sonia Bonfiglioli -Kauffrau-

                      I - Bologna

                      having sole power of representation

                      born: 25.11.1963

                      Nationality: Italian

 Manager:

                      Giorgio Bombarda

                      I  Granarolo dell `Emilia

                      having sole power of representation

                      born: 22.03.1963

                      Nationality: Italian

 

 Further functions/participations of Sonia Bonfiglioli -Kauffrau-

 (Manager)

 Manager:

                      Bonfiglioli Vectron GmbH

                      Europark Fichtenhain B 6

                      D 47807 Krefeld

                      Legal form: Private limited company

                      Share capital:     EUR            500,000.00

                      Registered

                      on:         20.12.1993

                      Reg. data:  47798 Krefeld, HRB 5188

 

 

 COMPANY HISTORY

 

 18.09.1990 - 24.02.2000  Bonfiglioli Getriebe GmbH

                          Waldstr. 23

                          D 63128 Dietzenbach

                          Private limited company

 24.02.2000 - 25.01.2005  Bonfiglioli Getriebe GmbH

                          Hamburger Str. 18

                          D 41540 Dormagen

                          Private limited company

 25.01.2005 - 31.12.2007  Bonfiglioli Deutschland GmbH

                          Hamburger Str. 18

                          D 41540 Dormagen

                          Private limited company

 

 

 RESIGNED ACTING PERSONS AND SHAREHOLDERS

 12.07.2011 - 13.08.2012  Manager

                          Jürgen Peter Weber

                          D 50259 Pulheim

 13.05.2003 - 04.07.2011  Manager

                          Thomas Becker

                          D 93047 Regensburg

 25.01.2005 - 29.12.2010  Manager

                          Clementino Bonfiglioli

                          I - Bologna

 

 

 BUSINESS ACTIVITIES

 Main industrial sector

 4614    Agents involved in the sale of machinery, industrial  equipment, shipsand aircraft

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      Bonfiglioli Deutschland GmbH

                      Heidestr. 4

                      D 85386 Eching

                      TEL.: 089/3160571-0

                      FAX.: 089/3160571-20

 

 

PARTICIPATIONS

 

 Shareholder:

                      Bonfiglioli Vectron GmbH

                      Europark Fichtenhain B 6

                      D 47807 Krefeld

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            500,000.00

                      Share:                 EUR            500,000.00

                      Reg. data:           20.12.1993

                                                Local court 47798 Krefeld

                                                HRB 5188

 

 

FINANCIAL INFORMATION

 

 Payment experience:  without complaints

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2011

 

 

REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                          100.00 %

 Address                       Sperberweg 12

                                    D 41468 Neuss

 

 Land register documents were not available.

 

 

BANKERS

 

 DEUTSCHE BANK, DÜSSELDORF

 Sort. code: 30070010, BIC: DEUTDEDDXXX

 COMMERZBANK VORMALS DRESDNER BANK, MÖNCHENGLADBACH

 Sort. code: 31080015, BIC: DRESDEFF310

 SPARKASSE NEUSS, NEUSS

 Sort. code: 30550000, BIC: WELADEDNXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2011               EUR         60,717,423.00

 Profit:              2011               EUR          8,892,685.00

 Equipment:                              EUR            653,836.00

 Ac/ts receivable:                       EUR         29,180,615.00

 Liabilities:                            EUR         15,967,174.00

 Employees:                                                     93

 - thereof permanent staff:                                     93

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 59.77

 Liquidity ratio:                   1.97

 Return on total capital [%]:      14.62

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 74.54

 Liquidity ratio:                   2.59

 Return on total capital [%]:      15.44

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 65.52

 Liquidity ratio:                   0.84

 Return on total capital [%]:      -1.33

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 70.22

 Liquidity ratio:                   2.11

 Return on total capital [%]:       9.01

 

 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         61,244,973.28

  Fixed assets                           EUR         17,981,862.14

   Intangible assets                     EUR            290,269.32

    Concessions, licences, rights        EUR            290,269.32

   Tangible assets                       EUR          6,394,115.32

    Land / similar rights                EUR          5,672,428.88

    Plant / machinery                    EUR             67,850.89

    Other tangible assets / fixtures and

    fittings                             EUR            653,835.55

   Financial assets                      EUR         11,297,477.50

    Shares in participations /

    subsidiaries and the like            EUR         11,297,477.50

     Shares in related companies         EUR         11,297,477.50

  Current assets                         EUR         42,841,382.14

   Stocks                                EUR         12,532,051.18

    Finished goods / work in progress    EUR         12,532,051.18

   Accounts receivable                   EUR         29,180,615.39

    Trade debtors                        EUR          8,457,789.84

    Amounts due from related companies   EUR         20,668,987.39

    Other debtors and assets             EUR             53,838.16

   Liquid means                          EUR          1,128,715.57

  Remaining other assets                 EUR            421,729.00

   Deferred taxes (assets)               EUR            421,729.00

 

 LIABILITIES                             EUR         61,244,973.28

  Shareholders' equity                   EUR         36,355,007.30

   Capital                               EUR          3,000,000.00

    Subscribed capital (share capital)   EUR          3,000,000.00

   Reserves                              EUR         11,246,334.08

    Capital reserves                     EUR         11,246,334.08

   Balance sheet profit/loss (+/-)       EUR         22,108,673.22

    Profit / loss brought forward        EUR         13,215,988.44

    Annual surplus / annual deficit      EUR          8,892,684.78

  Provisions                             EUR          8,886,985.11

   Pension provisions and comparable

   provisions                            EUR             68,740.00

   Provisions for taxes                  EUR          8,107,863.87

   Other / unspecified provisions        EUR            710,381.24

  Liabilities                            EUR         15,967,173.87

   Financial debts                       EUR          4,629,895.34

    Liabilities due to banks             EUR          4,629,895.34

   Other liabilities                     EUR         11,337,278.53

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          1,037,878.11

    Liabilities from received advance

    payments                             EUR            157,952.08

    Liabililties due to related companiesEUR          8,716,101.47

    Unspecified other liabilities        EUR          1,425,346.87

  Other liabilities                      EUR             35,807.00

   Deferred taxes (not included under

   provisions/liabilities)               EUR             35,807.00

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         60,717,422.56

  Other operating income                 EUR            213,146.96

  Cost of materials                      EUR         52,782,992.40

   Raw materials and supplies, purchased

   goods                                 EUR         51,726,744.42

   Purchased services                    EUR          1,056,247.98

  Gross result (+/-)                     EUR          8,147,577.12

  Staff expenses                         EUR          5,646,549.46

   Wages and salaries                    EUR          4,739,988.14

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            906,561.32

  Total depreciation                     EUR            619,209.41

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            619,209.41

  Other operating expenses               EUR          2,772,679.44

  Operating result from continuing

  operations                             EUR           -890,861.19

  Result from participating interests

  (+/-)                                  EUR         14,204,451.22

   Expenses / income from participations EUR         14,204,451.22

    Income from transfer of profits      EUR         14,204,451.22

  Interest result (+/-)                  EUR           -282,204.30

   Interest and similar income           EUR             85,292.80

   Interest and similar expenses         EUR            367,497.10

  Financial result (+/-)                 EUR         13,922,246.92

  Result from ordinary operations (+/-)  EUR         13,031,385.73

  Income tax / refund of income tax (+/-)EUR         -4,131,497.95

  Other taxes / refund of taxes          EUR             -7,203.00

  Tax (+/-)                              EUR         -4,138,700.95

  Annual surplus / annual deficit        EUR          8,892,684.78

 

 Type of balance sheet:                    Company balance sheet

 

 Financial year:                          01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         53,812,491.73

  Fixed assets                           EUR         18,362,404.76

   Intangible assets                     EUR            350,597.37

    Concessions, licences, rights        EUR            350,597.37

   Tangible assets                       EUR          6,714,329.89

    Land / similar rights                EUR          5,766,946.00

    Plant / machinery                    EUR            117,045.68

    Other tangible assets / fixtures and

    fittings                             EUR            830,338.21

   Financial assets                      EUR         11,297,477.50

    Shares in participations /

    subsidiaries and the like            EUR         11,297,477.50

     Shares in related companies         EUR         11,297,477.50

  Current assets                         EUR         35,240,020.97

   Stocks                                EUR         13,110,112.75

    Finished goods / work in progress    EUR         13,110,112.75

   Accounts receivable                   EUR         21,144,533.45

    Trade debtors                        EUR          7,788,554.47

    Amounts due from related companies   EUR         13,124,636.41

    Other debtors and assets             EUR            231,342.57

   Liquid means                          EUR            985,374.77

  Remaining other assets                 EUR            210,066.00

   Deferred taxes (assets)               EUR            210,066.00

 

 LIABILITIES                             EUR         53,812,491.73

  Shareholders' equity                   EUR         27,462,322.52

   Capital                               EUR          3,000,000.00

    Subscribed capital (share capital)   EUR          3,000,000.00

   Reserves                              EUR         11,246,334.08

    Capital reserves                     EUR         11,246,334.08

   Balance sheet profit/loss (+/-)       EUR         13,215,988.44

    Profit / loss brought forward        EUR          4,947,395.12

    Annual surplus / annual deficit      EUR          8,268,593.32

  Provisions                             EUR          4,491,913.00

   Pension provisions and comparable

   provisions                            EUR             78,008.00

   Provisions for taxes                  EUR          3,774,116.00

   Other / unspecified provisions        EUR            639,789.00

  Liabilities                            EUR         21,842,695.21

   Financial debts                       EUR          4,935,353.74

    Liabilities due to banks             EUR          4,935,353.74

   Other liabilities                     EUR         16,907,341.47

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR            913,435.39

    Liabilities from received advance

    payments                             EUR            317,126.81

    Liabililties due to related companiesEUR         14,227,756.12

    Unspecified other liabilities        EUR          1,449,023.15

  Other liabilities                      EUR             15,561.00

   Deferred taxes (not included under

   provisions/liabilities)               EUR             15,561.00

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         60,034,584.15

  Other operating income                 EUR            180,177.83

  Cost of materials                      EUR         50,945,001.52

   Raw materials and supplies, purchased

   goods                                 EUR         50,264,389.80

   Purchased services                    EUR            680,611.72

  Gross result (+/-)                     EUR          9,269,760.46

  Staff expenses                         EUR          5,164,155.44

   Wages and salaries                    EUR          4,358,513.74

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            805,641.70

  Total depreciation                     EUR            607,651.29

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            607,651.29

  Other operating expenses               EUR          3,140,369.56

  Operating result from continuing

  operations                             EUR            357,584.17

  Result from participating interests

  (+/-)                                  EUR         11,900,240.77

   Expenses / income from participations EUR         11,900,240.77

    Income from transfer of profits      EUR         11,900,240.77

  Interest result (+/-)                  EUR           -362,407.61

   Interest and similar income           EUR             37,773.92

   Interest and similar expenses         EUR            400,181.53

  Financial result (+/-)                 EUR         11,537,833.16

  Result from ordinary operations (+/-)  EUR         11,895,417.33

  Income tax / refund of income tax (+/-)EUR         -3,621,025.01

  Other taxes / refund of taxes          EUR             -5,799.00

  Tax (+/-)                              EUR         -3,626,824.01

  Annual surplus / annual deficit        EUR          8,268,593.32

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.74

UK Pound

1

Rs.83.54

Euro

1

Rs.70.72

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.