|
Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
DIESEL TECHNIC AG |
|
|
|
|
Registered Office : |
Wehrmannsdamm 5-9 D 27245 Kirchdorf |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1972 |
|
|
|
|
Com. Reg. No.: |
HRB 100414 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Wholesale trade in motor vehicle
parts and accessories |
|
|
|
|
No. of Employees : |
277 |
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 |
DIESEL TECHNIC AG
Company Status: active
Wehrmannsdamm 5-9
D 27245
Kirchdorf
Telephone:04273/89-0
Telefax:
04273/89-89
Homepage: www.dieseltechnic.com
E-mail:
info@dieseltechnic.com
VAT no.: DE116579235
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 1972
Registered on: 25.08.1999
Commercial Register: Local court 29664 Walsrode
under: HRB
100414
Share capital: EUR 2,700,000.00
Shareholder:
Erwin Naujoks
Schelmenbühl 12
D 78333 Stockach
born: 16.03.1949
Share: 46.150 %
Shareholder:
Horst Lieberwirth
Turm 2
D 17252 Roggentin
born: 09.12.1949
Share: 53.850 %
President of the Board of Directors:
Dr. Steffen Vondran
D 32469 Petershagen
born: 17.03.1971
Member of the Board of Directors:
Susanne Küfe-Vorholt
D 27232 Sulingen
born: 07.10.1956
Member of the Board of Directors:
Ralf Nädtke
D 27232 Sulingen
born: 14.09.1968
Member
of the Board of Directors:
Frank Behrens
D 27245 Kirchdorf
born: 20.08.1968
President of the Supervisory Board:
Horst Lieberwirth
Turm 2
D 17252 Roggentin
born: 09.12.1949
Profession: Businessman
Vice-president of the Supervisory Board:
Dr. Uwe Lenz
D 28195 Bremen
Profession: lawyer and notary
Member of the Supervisory Board:
Erwin Naujoks
Schelmenbühl 12
D 78333 Stockach
born: 16.03.1949
Marital status: married
Proxy:
Hannelore Koop
D 27232 Sulingen
authorized to jointly
represent the company
born: 06.09.1962
05.10.1972 - 25.08.1999 DT
- Diesel Technic GmbH
Wehrmannsdamm 5-9
D 27245 Kirchdorf
Private limited company
25.08.1999 - 08.12.2008 DT
- Dieseltechnic Aktiengesellschaft
(bis
08.12.2008)
Wehrmannsdamm
5-9
D 27245 Kirchdorf
Public limited company
08.12.2008 - 22.08.2011 DT-Diesel
Technic AG (bis 22.08.2011)
Wehrmannsdamm 5-9
D 27245 Kirchdorf
Public limited company
Main
industrial sector
45310
Wholesale trade in motor vehicle parts and accessories
45320
Retail trade in motor vehicle parts and accessories Secondary industrial
sector
29320
Manufacture of other parts and accessories for motor vehicles
Payment experience: cash
discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2011
Type of ownership: proprietor
Share: 100.00 %
Address Wehrmannsdamm 5-9
D 27245 Kirchdorf
Land register documents were not available.
KREISSPARKASSE GRAFSCHAFT DIEPHOLZ, DIEPHOLZ
Sort. code: 25651325, BIC: BRLADE21DHZ
COMMERZBANK, OSNABRÜCK
Sort. code: 26540070, BIC: COBADEFF265
DEUTSCHE BANK, BREMEN
Sort. code: 29070050, BIC: DEUTDEHBXXX
VOLKSBANK SULINGEN, SULINGEN
Sort. code: 25691633, BIC: GENODEF1SUL
Turnover: 2011 EUR 89,103,109.00
2012 EUR 80,000,000.00
Profit: 2011 EUR
12,573,976.00
further business figures:
Equipment: EUR 1,708,184.00
Ac/ts receivable: EUR 12,881,756.00
Liabilities: EUR 14,112,951.00
Employees:
277
- thereof permanent staff: 239
- Trainees:
38
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 61.48
Liquidity ratio: 1.74
Return on total capital [%]: 18.82
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 61.91
Liquidity ratio: 2.02
Return on total capital [%]: 23.67
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 70.70
Liquidity ratio: 3.33
Return on total capital [%]: 17.10
Balance
sheet ratios 01.01.2008 -
31.12.2008
Equity ratio [%]: 64.96
Liquidity ratio: 1.34
Return on total capital [%]: 16.94
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 66,858,449.41
Fixed assets
EUR 20,248,070.93
Intangible assets
EUR 617,119.45
Concessions, licences, rights
EUR 617,119.45
Tangible assets
EUR 16,751,713.43
Land / similar rights
EUR 5,696,711.49
Other tangible assets / fixtures and
fittings
EUR 1,708,184.08
Advance payments made / construction
in progress
EUR 9,346,817.86
Financial assets
EUR 2,879,238.05
Shares in participations /
subsidiaries and the like
EUR 1,219,201.59
Shares in related companies EUR
1,219,201.59
Loans to participations /
subsidiaries and the like
EUR 724,771.96
Loans to related companies
EUR 724,771.96
Securities included in fixed assets
EUR 935,264.50
Current assets
EUR 46,365,034.94
Stocks
EUR 26,753,992.56
Raw materials, consumables and
supplies
EUR 579,553.69
Finished goods / work in progress
EUR 26,047,814.58
Advance payments made
EUR 126,624.29
Accounts receivable
EUR 12,881,755.69
Trade debtors
EUR 8,906,216.44
Amounts
due from related companies EUR 2,448,503.21
Other debtors and assets
EUR 1,527,036.04
Liquid means
EUR 6,729,286.69
Remaining other assets
EUR 245,343.54
Accruals (assets)
EUR 245,343.54
LIABILITIES EUR 66,858,449.41
Shareholders' equity
EUR 41,101,692.70
Capital
EUR 2,700,000.00
Subscribed capital (share capital)
EUR 2,700,000.00
Reserves
EUR 270,000.00
Retained earnings / revenue reserves EUR 270,000.00
Balance sheet profit/loss (+/-)
EUR 38,131,692.70
Balance sheet profit / loss
EUR 38,131,692.70
Provisions
EUR 11,643,806.00
Pension provisions and comparable
provisions
EUR 835,971.00
Provisions for taxes
EUR 1,522,935.00
Other / unspecified provisions
EUR 9,284,900.00
Liabilities
EUR 14,112,950.71
Financial debts EUR
8,070,984.17
Liabilities due to banks
EUR 8,070,984.17
Other liabilities
EUR 6,041,966.54
Trade creditors (for IAS incl. bills
of exchange)
EUR 4,610,522.02
Unspecified other liabilities
EUR 1,431,444.52
thereof liabilities from tax /
financial authorities
EUR 673,025.58
thereof liabilities from social
security EUR 0.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 89,103,109.05
Other operating income
EUR 1,740,280.85
Cost
of materials
EUR 50,551,208.73
Raw materials and supplies, purchased
goods
EUR 50,542,985.95
Purchased services
EUR 8,222.78
Gross result (+/-)
EUR 40,292,181.17
Staff expenses
EUR 13,572,158.38
Wages and salaries
EUR 12,139,390.11
Social security contributions and
expenses for pension plans and
benefits
EUR 1,432,768.27
Total depreciation
EUR 822,675.58
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 822,675.58
Other operating expenses
EUR 10,550,821.56
Operating result from continuing
operations
EUR 15,346,525.65
Result from participating interests
(+/-) EUR 1,818,123.38
Expenses / income from participations EUR 1,818,123.38
Income from related companies
EUR 1,818,123.38
Interest result (+/-)
EUR -252,544.28
Interest and similar income
EUR 80,507.27
thereof from related companies
EUR 2,654.82
Interest and similar expenses
EUR 333,051.55
Other financial result
EUR 19,832.51
Income from securities and loans from
financial assets
EUR 19,832.51
thereof related companies
EUR 19,832.51
Financial result (+/-)
EUR 1,585,411.61
Result from ordinary operations (+/-)
EUR 16,931,937.26
Extraordinary expenses
EUR 9,831.00
Extraordinary result (+/-)
EUR -9,831.00
Income tax / refund of income tax (+/-)EUR -4,326,819.22
Other
taxes / refund of taxes EUR -21,311.39
Tax (+/-)
EUR -4,348,130.61
Annual surplus / annual deficit
EUR 12,573,975.65
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 50,737,098.62
Fixed assets
EUR 11,249,832.57
Intangible assets
EUR 600,489.95
Concessions, licences, rights EUR 600,489.95
Tangible assets
EUR 8,750,231.31
Land / similar rights
EUR 5,952,532.49
Other tangible assets / fixtures and
fittings EUR 1,560,305.59
Advance payments made / construction
in progress
EUR 1,237,393.23
Financial assets
EUR 1,899,111.31
Shares in participations /
subsidiaries and the like
EUR 1,211,539.59
Shares in related companies
EUR 1,211,539.59
Loans to participations /
subsidiaries and the like
EUR 46,570.72
Loans to related companies
EUR 46,570.72
Securities included in fixed assets
EUR 641,001.00
Current assets
EUR 39,171,032.00
Stocks
EUR 20,954,529.89
Raw materials, consumables and
supplies
EUR 448,697.25
Finished goods / work in progress
EUR 20,396,609.58
Advance payments made
EUR 109,223.06
Accounts receivable
EUR 10,533,323.30
Trade debtors
EUR 7,414,277.92
Amounts due from related companies
EUR 1,446,372.62
Other debtors and assets
EUR 1,672,672.76
Liquid means EUR 7,683,178.81
Remaining other assets
EUR 316,234.05
Accruals (assets)
EUR 316,234.05
LIABILITIES EUR 50,737,098.62
Shareholders' equity
EUR 31,527,717.05
Capital
EUR 2,700,000.00
Subscribed capital (share capital)
EUR 2,700,000.00
Reserves
EUR 270,000.00
Retained earnings / revenue reserves EUR 270,000.00
Balance sheet profit/loss (+/-)
EUR 28,557,717.05
Balance sheet profit / loss
EUR 28,557,717.05
Provisions EUR 6,301,247.00
Pension provisions and comparable
provisions
EUR 830,436.00
Provisions for taxes
EUR 957,311.00
Other / unspecified provisions
EUR 4,513,500.00
Liabilities
EUR 12,908,134.57
Financial debts
EUR 7,847,653.78
Liabilities due to banks
EUR 7,847,653.78
Other liabilities EUR
5,060,480.79
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,711,908.97
Liabililties due to related companiesEUR 19,388.48
Unspecified other liabilities
EUR 1,329,183.34
thereof liabilities from tax /
financial authorities
EUR 746,003.82
thereof liabilities from social
security
EUR 19,451.88
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 64,006,539.23
Other operating income
EUR 1,128,899.03
Cost of materials
EUR 36,784,111.00
Raw materials and supplies, purchased
goods
EUR 36,778,102.51
Purchased services
EUR 6,008.49
Gross result (+/-)
EUR 28,351,327.26
Staff expenses EUR 10,242,954.88
Wages and salaries
EUR 8,988,137.04
Social security contributions and
expenses for pension plans and
benefits
EUR 1,254,817.84
Total
depreciation EUR 655,782.01
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 655,782.01
Other operating expenses
EUR 7,751,639.43
Operating result from continuing
operations
EUR 9,700,950.94
Result from participating interests
(+/-)
EUR 5,210,649.31
Expenses / income from participations EUR 5,210,649.31
Income from related companies
EUR 5,210,649.31
Interest result (+/-)
EUR -116,174.82
Interest and similar income
EUR 99,956.38
thereof from related companies
EUR 12,023.54
Interest and similar expenses
EUR 216,131.20
Other financial result
EUR 3,467.96
Income from securities and loans from
financial assets EUR 3,467.96
thereof related companies
EUR 3,467.96
Financial result (+/-)
EUR 5,097,942.45
Result from ordinary operations (+/-)
EUR 14,798,893.39
Extraordinary expenses
EUR 9,831.00
Extraordinary result (+/-)
EUR -9,831.00
Income tax / refund of income tax (+/-)EUR -2,836,721.00
Other taxes / refund of taxes
EUR -21,513.62
Tax
(+/-)
EUR -2,858,234.62
Annual surplus / annual deficit
EUR 11,930,827.77
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.