|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Adolf Thies Gmbh & Co. kg |
|
|
|
|
Registered Office : |
Hauptstr. 76, D 37083 Gottingen |
|
|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishment : |
1945 |
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|
|
|
Com. Reg. No.: |
HRA 2488 |
|
|
|
|
Legal Form : |
Limited Partnership with Private Limited Company as General
Partner |
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|
|
|
Line of Business : |
Manufacture of instruments and
appliances for measuring, testing and navigation. |
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|
|
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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
Adolf Thies GmbH & Co. KG
Company Status: active
Hauptstr. 76
D 37083 Göttingen
Telephone:0551/790010
Telefax: 0551/7900165
Homepage: www.thiesclima.com
E-mail:
info@thiesclima.com
DE115311033
Business
relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 1945
Begin of business
activities: 1945
Registered on: 16.07.1954
Register of
companies: Local
court 37073 Göttingen
under: HRA
2488
Total cap.
contribution: EUR 996,200.00
Klaus
Thies
Meininger Weg 73
D 37085 Göttingen
born:
25.03.1945
Share: EUR 427,000.00
Limited partner:
Wolfgang Behrens
An der
Rase 4
D
37124 Rosdorf
born:
20.08.1950
Share: EUR 252,800.00
Limited partner:
Rainer
Wittmers
Adenauerstr. 18
D
59457 Werl
Share: EUR 158,200.00
Limited partner:
Thomas
Stadie
Bergstr. 4
D
37127 Dransfeld
born:
28.11.1960
Share: EUR 158,200.00
Thies
Verwaltungs- und
Beteiligungsgesellschaft mit beschränkter
Haftung
Hauptstr. 76
D
37083 Göttingen
Legal
form: Private limited company
Share
capital: EUR 26,550.00
Registered on: 19.12.1973
Reg.
data: 37073 Göttingen, HRB 721
Klaus
Thies
Meininger Weg 73
D
37085 Göttingen
born:
25.03.1945
Share: EUR 11,300.00
Shareholder:
Wolfgang
Behrens
An der
Rase 4
D
37124 Rosdorf
born:
20.08.1950
Share: EUR 6,750.00
Shareholder:
Thomas
Stadie
Bergstr. 4
D
37127 Dransfeld
born:
28.11.1960
Share: EUR 4,250.00
Shareholder:
Rainer
Wittmers
Adenauerstr. 18
D
59457 Werl
born:
12.09.1956
Share: EUR 4,250.00
Wolfgang Behrens
An der
Rase 4
D 37124
Rosdorf
having
sole power of representation
born:
20.08.1950
Profession: Businessman
Marital status: married
Thomas
Stadie
Bergstr. 4
D
37127 Dransfeld
having
sole power of representation
born:
28.11.1960
Proxy:
Rainer
Wittmers
Adenauerstr. 18
D 59457 Werl
having
sole power of representation
born:
12.09.1956
Main industrial sector
26512 Manufacture of
instruments and appliances for measuring, testing and navigation
Payment experience: within
agreed terms
Negative information:We have no negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Hauptstr.
76
D
37083 Göttingen
Type of ownership: proprietor
Share: 100.00 %
Address Hauptstr.
78a
D 37083 Göttingen
Real Estate of: Thies
Verwaltungs- und
Beteiligungsgesellschaft mit
beschränkter
Haftung
Type of ownership: Tenant
Address Hauptstr.
76
D 37083 Göttingen
Land register documents
were not available.
Principal bank
SPARKASSE GÖTTINGEN,
GÖTTINGEN, NIEDERSACHS
Sort. code: 26050001, BIC:
NOLADE21GOE
Further banks
COMMERZBANK, GÖTTINGEN,
NIEDERSACHS
Sort. code: 26040030, BIC:
COBADEFF260
DEUTSCHE BANK, GÖTTINGEN,
NIEDERSACHS
Sort. code: 26070072, BIC:
DEUTDE2H260
RAIFFEISENBANK, ROSDORF, KR
GÖTTINGEN
Sort. code: 26062575, BIC:
GENODEF1RDO
Gross
profit or loss:2011
EUR 19,100,000.00
2012 EUR 19,260,000.00
further business figures:
Equipment:
EUR 417,519.00
Ac/ts receivable: EUR 2,312,339.00
Liabilities: EUR 7,968,959.00
Employees:
90
- thereof
permanent staff: 89
BALANCE SHEETS
Balance sheet ratios
01.01.2010 - 31.12.2010
Equity ratio [%]: 56.91
Liquidity ratio: 10.00
Return on total capital
[%]: 40.29
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: 01.01.2010 - 31.12.2010
ASSETS EUR 13,399,689.47
Fixed assets
EUR 3,788,193.00
Intangible assets
EUR 19,778.00
Concessions, licences, rights EUR 19,778.00
Tangible assets
EUR 3,757,215.00
Land / similar rights
EUR 2,651,826.00
Plant / machinery
EUR 680,610.00
Other tangible assets / fixtures and
fittings
EUR 417,519.00
Advance payments made / construction
in progress
EUR 7,260.00
Financial assets
EUR 11,200.00
Shares in participations /
subsidiaries and the like
EUR 11,200.00
Shares in cooperatives
EUR 11,200.00
Current assets
EUR 9,601,050.43
Stocks EUR 1,751,698.00
Raw materials, consumables and
supplies
EUR 719,199.00
Finished goods / work in progress
EUR 1,032,499.00
Accounts receivable
EUR 2,312,338.98
Trade debtors
EUR 2,179,753.72
Amounts due from affiliated companiesEUR 88,060.79
Other debtors and assets
EUR 44,524.47
Liquid means EUR 5,537,013.45
Remaining other assets
EUR 10,446.04
Accruals (assets)
EUR 10,446.04
LIABILITIES EUR 13,399,689.47
Shareholders' equity
EUR 1,111,931.75
Capital
EUR 1,111,931.75
Capital of the fully liable partner
(LP, general partnership)
EUR 115,731.75
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 115,731.75
Limited partner's capital / capital
of partially liable partner (LP)
EUR 996,200.00
Provisions EUR 4,288,309.00
Provisions for taxes
EUR 251,300.00
Other / unspecified provisions
EUR 4,037,009.00
Liabilities
EUR 7,968,958.72
Other liabilities EUR 7,968,958.72
Trade creditors (for IAS incl. bills
of exchange)
EUR 675,106.71
Liabilities from received advance
payments
EUR 319,773.44
Liabilities due to shareholders
EUR 6,514,263.57
Unspecified other liabilities
EUR 459,815.00
thereof liabilities from tax /
financial authorities
EUR 431,406.96
Other liabilities
EUR 30,490.00
Deferred taxes (not included under
provisions/liabilities)
EUR 30,490.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-) EUR 18,370,878.08
Staff expenses
EUR 8,711,416.82
Wages and salaries
EUR 7,835,190.82
Social security contributions and
expenses for pension plans and
benefits
EUR 876,226.00
Total depreciation
EUR 305,147.61
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 305,147.61
Other operating expenses
EUR 2,251,284.16
Operating result from continuing
operations
EUR 7,103,029.49
Interest result (+/-)
EUR -71,942.39
Interest
and similar income EUR 62,536.21
Interest and similar expenses
EUR 134,478.60
Financial result (+/-)
EUR -71,942.39
Result from ordinary operations (+/-)
EUR 7,031,087.10
Income tax / refund of income tax (+/-)EUR -1,630,458.50
Other taxes / refund of taxes
EUR -1,463.29
Tax
(+/-)
EUR -1,631,921.79
Annual surplus / annual deficit
EUR 5,399,165.31
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.