MIRA INFORM REPORT

Report Date :

23.05.2013

IDENTIFICATION DETAILS

Correct Name :	XXXLUTZ KG

Registered Office :	Römerstraße 39, A-4600 Wels

Country :	Austria

Year of Establishment :	1945

Legal Form :	Limited Liability Partnership

Line of business :	Retail sale of household furniture in specialised stores

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Good

Payment Behaviour :	Regular

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 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Austria

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

austria - ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.9% in 2009 but saw positive growth of about 2% in 2010 and 3% in 2011. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.7% in 2010 and 3.6% in 2011, from only about 1.3% in 2008. The international financial crisis of 2008 caused difficulties for Austria''s largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria''s fiscal position compares favorably with other euro-zone countries, but it faces considerable external risks, such as Austrian banks'' continued high exposure to central and eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity budget that will bring public finances into balance by 2016.

Source : CIA

Basic company information

Last up-date:	2012-10-30
Company name:	XXXLutz KG
Status:	active company
Locations:	Römerstraße 39, A-4600 Wels
Phone:	0043 (0) 050 111 - 1000
Internet:	http://www.xxxlutz.at
Activities:	Önace 47592 85% Retail sale of household furniture in specialised stores
	Önace 56101 15% Restaurants

General Assessment:	Model: CompanyScore
Probability of Default (Basel II):	0,12% Very low risk
comparison:	The Rating of this company is better than industry average.
Recommendation:	In respect to solvency reasons, there is nothing to say against an establishment of a business relationship.

Detail Assessment:	Payment 200 Payments are made according to conditions within agreed terms, using cash discounts.
	Assessment 200 Financial situation is good.

Collections

Date of collection order	Amount presently due	Amount presently paid	Collection status quo	since
2010-05-05	EUR 0,00	EUR 561,64	payment due to intervention	2010-07-13
Sums	EUR 0,00	EUR 561,64

Additional company information

Year of incorporation:	1945
Type of company:	Wholesale and retail trade; repair of motor vehicles
Legal form:	limited liability partnership since 2009-11-19
companies' house number:	FN 336561 v Wels 2009-12-02
VAT number:	ATU 65296645
number - Austrian National Bank:	9565779

Import		Country
Import		European Union	2012

Financial data

total turnover (total sales)	2011		(no figures known)
turnover (sales) - group	2011	EUR 2.800.000.000,00	(approx.)
total employees	2012		(no figures known)

Extraxt from the Companies' House

firm (style):

1 XXXLutz KG

legal form:

1 Kommanditgesellschaft

registered office:

1 politischer Gemeinde Wels

business address:

    1      Römerstraße 39
           4600 Wels
    1   Gesellschaftsvertrag vom 19.11.2009                                001
    1   Umwandlungsvertrag vom 19.11.2009                                  002
    1   Die Gesellschaft ist durch Umwandlung                               003
          gemäß §§ 1 ff UmwG aus der
          Lutz Service GmbH
          (FN 211978 h)
          hervorgegangen.

general partner:

         A   XXXLutz Verwaltungs GmbH
    1        vertritt seit 02.12.2009 selbständig
         B   Julia Fronik, geb. 11.06.1981
    2        vertritt seit 01.07.2010 gemeinsam mit
             einem weiteren unbeschränkt haftenden Gesellschafter

limited partner:

         C   WSF Privatstiftung
    1        .............................................. EUR 25.000.000
         E   LSW GmbH
    3        .............................................. EUR 25.000.000
    3        Rechtsnachfolge nach                                           001
               LSW Privatstiftung
               (FN 137289 x)
               hinsichtlich eines Betrages von EUR 25.000.000,--

general table:

Landesgericht Wels
   1 eingetragen am 02.12.2009                  Geschäftsfall 27 Fr 3720/09 a
       Antrag auf Neueintragung einer Firma eingelangt am 23.11.2009
   2 eingetragen am 09.07.2010                  Geschäftsfall 27 Fr 2019/10 h
       Antrag auf Änderung eingelangt am 07.07.2010
   3 eingetragen am 06.01.2011                  Geschäftsfall 27 Fr 4171/10 y
       Antrag auf Änderung eingelangt am 27.12.2010

Real estate

Real estate text:

No real estate property registered

Private data

Surname

Date of birth

Address

Executive positions

Further executive positions (as registered in the companies' house)

Julia Fronik

1981-06-11

3730 Eggenburg Leinwandbleiche 4

general partner

Locations

Type	Locations	Description

operational	Römerstraße 39, A-4600 Wels	registered office

operational	Römerstraße 39, A-4600 Wels	registered headquarters, rented premises

related companies

Company name

Postal code

Stake in %

Companies House

Shares in this company are held by:

WSF Privatstiftung

Römerstraße 39, A-4600 Wels

2009-12-02

FN 137292 a

LSW GmbH

Römerstraße 39, A-4600 Wels

2011-01-06

FN 272503 s

XXXLutz Verwaltungs GmbH

Römerstraße 39, A-4600 Wels

2009-12-02

FN 335101 x

1 XXXLutz Verwaltungs GmbH

1 Gesellschaft mit beschränkter Haftung

1 EUR 35.000

    1      Die Gesellschaft wird, wenn mehrere Geschäftsführer
           bestellt sind, durch zwei Geschäftsführer gemeinsam oder
           durch einen von ihnen gemeinsam mit einem Prokuristen
           vertreten, soferne die Generalversammlung nicht einzelnen
           Geschäftsführern Alleinvertretungsmacht einräumt.
    1   Gesellschaftsvertrag vom 16.10.2009                                001
    4   Generalversammlungsbeschluss vom 15.03.2011                        002
          Änderung des Gesellschaftsvertrages im Punkt Achtens.
    6   Generalversammlungsbeschluss vom 26.04.2012                        003
          Änderung des Gesellschaftsvertrages in Punkt Fünftens.
    6   Generalversammlungsbeschluss vom 26.04.2012                        004
          Änderung des Gesellschaftsvertrages in Punkt Sechstens.

         E   Mag. Roland Werner, geb. 27.06.1973
    1        vertritt seit 28.10.2009 gemeinsam mit
             dem Geschäftsführer Dr. Richard Seifert oder
             dem Geschäftsführer Dr. Andreas Seifert
         G   Mag. Christine Klambauer, geb. 10.05.1963
    2        vertritt seit 10.03.2010 gemeinsam mit
             dem Geschäftsführer Dr. Richard Seifert oder
             dem Geschäftsführer Dr. Andreas Seifert
         H   Mag. Stefan Haslinger, geb. 08.07.1973
    2        vertritt seit 10.03.2010 gemeinsam mit
             dem Geschäftsführer Dr. Richard Seifert oder
             dem Geschäftsführer Dr. Andreas Seifert

         C   Dr. Richard Seifert, geb. 08.12.1949
    1        vertritt seit 28.10.2009 gemeinsam mit
             einem weiteren Geschäftsführer oder einem Prokuristen
         D   Dr. Andreas Seifert, geb. 24.10.1954
    1        vertritt seit 28.10.2009 gemeinsam mit
             einem weiteren Geschäftsführer oder einem Prokuristen
         F   Walter Kaltenecker, geb. 19.08.1955
    2        vertritt seit 10.03.2010 gemeinsam mit
             dem Geschäftsführer Dr. Richard Seifert oder
             dem Geschäftsführer Dr. Andreas Seifert

         A   WSF Privatstiftung
    1        .....................    EUR 17.500
    1        ................................................    EUR 17.500
         B   LSW Privatstiftung
    1        .....................    EUR 17.500
    1        ................................................    EUR 17.500
                          ------------------------------------------------------
                   Summen:            EUR 35.000                 EUR 35.000

This company holds 100% of the shares in:

RAKS Service GmbH

Römerstraße 39, A-4600 Wels

100 % 2011-09-06

7.066.817

FN 367634 p

This company holds 50% to 99% of the shares in:

RAS Beteiligungs GmbH

Kelsenstraße 9, A-1030 Wien

99.5 % 2011-03-22

3.188

FN 94005 v

RAS Beteiligungs GmbH

Kelsenstraße 9, A-1030 Wien

99.5 % 2011-03-22

3.188

FN 94005 v

Affiliated companies and further participations:

RAS Beteiligungs GmbH

Kelsenstraße 9, A-1030 Wien

3.188

FN 94005 v

XXXLutz-IMSE GmbH

Römerstraße 39, A-4600 Wels

61.124

FN 92165 m

ARS-Immobilien GmbH

Römerstraße 39, A-4600 Wels

104.641

FN 64635 b

ARL-Leasing GmbH

Römerstraße 39, A-4600 Wels

468.067

FN 99902 s

RS Holding GmbH

Römerstraße 39, A-4600 Wels

716.109

FN 137371 t

XLCEE-Holding GmbH

Römerstraße 39, A-4600 Wels

1.341.350

FN 246864 k

XXXLutz-AT GmbH

Römerstraße 39, A-4600 Wels

1.385.647

FN 256478 z

XLD-Holding GmbH

Römerstraße 39, A-4600 Wels

1.385.651

FN 256502 i

AWF Immobilien GmbH

Römerstraße 39, A-4600 Wels

1.437.089

FN 265145 w

XLCZ-Holding GmbH

Römerstraße 39, A-4600 Wels

1.526.817

FN 286695 k

XXXLutz Marken GmbH

Römerstraße 39, A-4600 Wels

1.546.755

FN 291495 w

Möbelix GmbH

Römerstraße 39, A-4600 Wels

1.583.428

FN 300975 k

Mömax GmbH

Römerstraße 39, A-4600 Wels

1.583.429

FN 300976 m

XXXLutz Logistik GmbH

Römerstraße 39, A-4600 Wels

1.658.766

FN 323564 f

XXXL Einkaufsverwaltungs GmbH

Römerstraße 39, A-4600 Wels

7.028.381

FN 359076 d

Bankers

Banker

Bank sort code

Type of banking connection

UniCredit Bank Austria AG, 4601 Wels

11000

main bank connection

Oberbank AG, 4600 Wels

15000

main bank connection

Historical development

Year of incorporation:	1945
Date of registration:	2009-12-02

Former shareholders:
From	To	Function	Name
2009-12-02	2011-01-06	limited partner	LSW Privatstiftung

Mergers:
Date	Function	Name
2009-12-02	merged with	Lutz Service GmbH

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.52
UK Pound	1	Rs.84.09
Euro	1	Rs.71.67

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.

MIRA INFORM REPORT

Basic company information

Collections

Additional company information

Financial data

Extraxt from the Companies' House

Real estate

Private data

Locations

related companies

Bankers

Historical development

Unit