MIRA
INFORM REPORT
|
Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FRITSCH GMBH |
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Registered Office : |
Bahnhofstr. 27-31, D 97348 Markt Einersheim |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
22.08.2003 |
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Com. Reg. No.: |
HRB 8223 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of Machinery for Food,
Beverage and Tobacco Processing. |
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No. of Employees : |
530 |
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 |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
Company Name and Address
Fritsch GmbH
Company Status: Active
Bahnhofstr. 27-31
D 97348 Markt Einersheim
Telephone:09326/83-0
Telefax: 09326/83-100
Homepage: www.fritsch.info
E-mail: mail@fritsch-forum.de
VAT no.
DE133015819
Tax ID number
257/126/80922
CONCLUSION
Business relations are permissible.
Coampnmy Summary
LEGAL FORM Private limited company
Date of foundation: 22.08.2003
Shareholders'
agreement: 22.08.2003
Registered on: 16.09.2003
Commercial Register: Local
court 97070 Würzburg
under: HRB
8223
Share capital
EUR 6,525,600.00
Shareholder
Fritsch Holding Aktiengesellschaft
Bahnhofstr. 27-31
D
97348 Markt Einersheim
Legal form: Public limited company
Share
capital: EUR 10,000,000.00
Share: EUR
6,525,600.00
Registered on: 06.09.2004
Reg. data: 97070
Würzburg, HRB 8533
Manager:
Klaus
Fritsch
Sudetenstr. 1
D
97348 Markt Einersheim
having
sole power of representation
born:
08.02.1956
Profession: Fully qualified economic
engineer
Marital status: married
Proxy:
Regine
Begatik
Sudetenstr. 2
D
97348 Markt Einersheim
having
sole power of representation
born:
11.01.1958
Profession: executive employee
Marital status: married
Proxy:
Georgi
Zauter
Hüttenheim 221
D
97348 Willanzheim
authorized to jointly represent the company
born:
25.11.1962
Profession: executive employee
Marital status: married
Proxy:
Kay
Bürkle
Hauptstr. 82
D
97218 Gerbrunn
authorized to jointly represent the company
born:
09.02.1970
Proxy:
Alfred Mahler
D
97332 Volkach
authorized to jointly represent the company
born:
02.10.1963
Proxy:
Hans-Günter Mehls
D
23843 Bad Oldesloe
authorized to jointly represent the company
born:
15.03.1958
Further functions/participations of Klaus
Fritsch (Manager)
Manager:
Fritsch Bakery Systems GmbH
Bahnhofstr. 27-31
D
97348 Markt Einersheim
Legal
form: Private limited company
Share
capital: EUR 26,000.00
Registered
on: 29.06.1991
Reg.
data: 97070
Würzburg, HRB 3906
Manager:
Fritsch Vertriebsgesellschaft mbH
Bahnhofstr. 31
D
97348 Markt Einersheim
Legal
form: Private limited company
Share
capital: EUR 26,000.00
Registered
on: 26.03.1998
Reg.
data: 97070
Würzburg, HRB 6155
Manager:
Fritsch Oven Solutions GmbH
Bahnhofstr. 27-31
D
97348 Markt Einersheim
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 22.03.2012
Reg.
data: 97070
Würzburg, HRB 11464
Member of the Board of Directors:
Fritsch Holding Aktiengesellschaft
Bahnhofstr. 27-31
D
97348 Markt Einersheim
Legal
form: Public limited company
Share
capital: EUR 10,000,000.00
Registered
on: 06.09.2004
Reg.
data: 97070
Würzburg, HRB 8533
COMPANY HISTORY
1949 - 1980 A. Fritsch
D
97348 Markt Einersheim
Other legal form
16.07.1997 -
30.09.2003 A. Fritsch GmbH & Co. KG
Bahnhofstr. 27-31
D
97348 Markt Einersheim
Ltd partnership with priv. ltd. company
as
general partner
BUSINESS ACTIVITIES
Sectors
28930 Manufacture of machinery for food, beverage
and tobacco processing
46693 Wholesale of other
equipment and accessories for machinery and technical supplies
PARTICIPATIONS
Shareholder:
Fritsch Vertriebsgesellschaft mbH
Bahnhofstr. 31
D
97348 Markt Einersheim
Legal
form: Private limited company
Company Status: Active
Share
capital: EUR 26,000.00
Share: EUR 19,500.00
Reg.
data: 26.03.1998
Local court 97070
Würzburg
HRB 6155
FINANCIAL INFORMATION
Payment experience: cash
discount/within agreed terms
Negative information:We have no negative information at hand.
Balance sheet year: 2010
REAL ESTATE
Type of ownership: proprietor
Share: 100.00 %
Address Bahnhofstr.
27 - 31
D 97348 Markt Einersheim
Type of ownership: Tenant
Address Bahnhofstr.
27-31
D 97348 Markt Einersheim
Land register documents
were not available.
BANKERS
Principal bank
COMMERZBANK VORMALS
DRESDNER BANK, WÜRZBURG
Sort. code: 79080052,
Account no.: 330073000, BIC: DRESDEFF790
Further banks
SPARKASSE MAINFRANKEN
WÜRZBURG, KITZINGEN
Sort. code: 79050000,
Account no.: 11 21 10, BIC: BYLADEM1SWU
DEUTSCHE BANK, WÜRZBURG
Sort. code: 79070016,
Account no.: 33 84 00, BIC: DEUTDEMM790
VR BANK KITZINGEN,
KITZINGEN
Sort. code: 79190000,
Account no.: 33 75 8, BIC: GENODEF1KT1
POSTBANK, NÜRNBERG,
MITTELFR
Sort. code: 76010085, BIC:
PBNKDEFF760
FINANCIAL FIGURES
Turnover: 2011 EUR 68,000,000.00
Employees:
530
- Trainees:
39
BALANCE SHEETS
Balance sheet ratios
01.01.2010 - 31.12.2010
Equity ratio [%]: 31.26
Liquidity ratio: 0.98
Return on total capital
[%]: 0.63
Balance sheet ratios
01.01.2009 - 31.12.2009
Equity ratio [%]: 35.44
Liquidity ratio: 0.95
Return on total capital
[%]: 2.75
Balance sheet ratios
01.01.2008 - 31.12.2008
Equity ratio [%]: 35.76
Liquidity ratio: 0.90
Return on total capital
[%]: 2.77
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
38,910,439.07
Fixed assets
EUR 9,469,783.34
Intangible assets
EUR 116,233.50
Concessions, licences, rights
EUR 116,233.50
Tangible assets EUR 9,310,976.20
Land / similar rights
EUR 8,176,257.55
Plant / machinery
EUR 26,548.00
Other tangible assets / fixtures and
fittings
EUR 1,108,170.65
Financial assets
EUR 42,573.64
Shares in participations /
subsidiaries and the like
EUR 2,006.00
Shares in related companies
EUR 6.00
Shares in cooperatives
EUR 2,000.00
Loans to participations /
subsidiaries and the like
EUR 40,567.64
Loans to related companies
EUR 40,567.64
Current assets EUR 29,071,443.91
Stocks
EUR 11,286,632.82
Raw materials, consumables and
supplies
EUR 2,490,092.50
Finished goods / work in progress
EUR 15,120,293.76
Advance payments made
EUR 251,049.00
Minus received advance payments for
orders / installments for stocks
EUR -6,574,802.44
Accounts receivable
EUR 17,632,793.49
Trade debtors
EUR 13,908,483.31
Amounts due from related companies
EUR 3,150,897.04
Other debtors and assets
EUR 573,413.14
Liquid means
EUR 152,017.60
Remaining other assets
EUR 369,211.82
Accruals (assets)
EUR 196,578.72
Deferred taxes (assets)
EUR 27,300.00
Active difference from asset
offsetting
EUR 145,333.10
LIABILITIES EUR 38,910,439.07
Shareholders' equity
EUR 12,281,734.63
Capital
EUR 6,525,600.00
Subscribed capital (share capital)
EUR 6,525,600.00
Reserves
EUR 750,000.00
Capital reserves
EUR 750,000.00
Balance sheet profit/loss (+/-)
EUR 5,006,134.63
Balance sheet profit / loss
EUR 5,006,134.63
Provisions
EUR 8,666,161.62
Pension provisions and comparable
provisions
EUR 1,752,402.00
Provisions for taxes
EUR 349,860.62
Other / unspecified provisions
EUR 6,563,899.00
Liabilities
EUR 17,962,542.82
Financial debts
EUR 10,694,477.43
Liabilities due to banks
EUR 10,694,477.43
Other liabilities
EUR 7,268,065.39
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,153,811.37
Liabililties due to related companiesEUR 2,912,174.76
Unspecified other liabilities
EUR 1,202,079.26
thereof liabilities from tax /
financial authorities
EUR 377,410.72
thereof liabilities from social
security
EUR 171,327.70
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 64,725,685.04
Inventory change + own costs (+/-)
EUR 838,946.71
Inventory change (+/-)
EUR 838,946.71
Other operating income
EUR 1,482,873.35
Cost of materials
EUR 26,797,189.78
Raw materials and supplies, purchased
goods
EUR 25,237,814.07
Purchased services
EUR 1,559,375.71
Gross result (+/-)
EUR 40,250,315.32
Staff expenses EUR 25,338,515.38
Wages and salaries
EUR 20,956,393.13
Social security contributions and
expenses for pension plans and
benefits
EUR 4,382,122.25
Total depreciation
EUR 548,521.63
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 548,521.63
Other operating expenses
EUR 12,969,832.12
Operating result from continuing
operations
EUR 1,393,446.19
Interest result (+/-)
EUR -832,159.59
Interest and similar income
EUR 33,444.79
thereof from related companies EUR 0.00
Interest and similar expenses
EUR 865,604.38
thereof paid to related companies
EUR 33,740.71
Financial result (+/-)
EUR -832,159.59
Result from ordinary operations (+/-)
EUR 561,286.60
Extraordinary income
EUR 6,090.00
Extraordinary expenses
EUR 23,013.00
Extraordinary result (+/-)
EUR -16,923.00
Income tax / refund of income tax (+/-)EUR -275,152.14
Other taxes / refund of taxes
EUR -41,288.20
Tax
(+/-)
EUR -316,440.34
Annual surplus / annual deficit
EUR 227,923.26
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2009 - 31.12.2009
ASSETS EUR 33,425,537.66
Fixed assets
EUR 9,409,272.89
Intangible assets
EUR 71,524.50
Concessions, licences, rights
EUR 71,524.50
Tangible assets
EUR 9,315,742.39
Land / similar rights EUR 7,414,548.55
Plant / machinery
EUR 17,542.00
Other tangible assets / fixtures and
fittings
EUR 1,074,161.65
Advance payments made / construction
in
progress
EUR 809,490.19
Financial assets
EUR 22,006.00
Shares in participations /
subsidiaries and the like
EUR 2,006.00
Shares in related companies
EUR 6.00
Shares in cooperatives
EUR 2,000.00
Other loans
EUR 20,000.00
Current assets
EUR 23,618,573.68
Stocks EUR 10,684,648.53
Raw materials, consumables and
supplies
EUR 2,136,199.37
Finished goods / work in progress
EUR 14,281,347.05
Advance payments made EUR 12,620.00
Minus received advance payments for
orders / installments for stocks
EUR -5,745,517.89
Accounts receivable
EUR 12,896,571.23
Trade debtors
EUR 8,795,981.30
Amounts due from related companies
EUR 3,234,678.03
Other debtors and assets
EUR 865,911.90
Liquid means
EUR 37,353.92
Remaining other assets
EUR 397,691.09
Accruals (assets)
EUR 397,691.09
LIABILITIES EUR 33,425,537.66
Shareholders' equity
EUR 12,053,811.37
Capital EUR 6,525,600.00
Subscribed capital (share capital)
EUR 6,525,600.00
Reserves
EUR 750,000.00
Capital reserves
EUR 750,000.00
Balance sheet profit/loss (+/-)
EUR 4,778,211.37
Balance sheet profit / loss
EUR 4,778,211.37
Provisions
EUR 8,043,239.32
Pension provisions and comparable
provisions EUR 1,897,003.00
Provisions for taxes
EUR 223,978.32
Other / unspecified provisions
EUR 5,922,258.00
Liabilities
EUR 13,328,486.97
Financial debts EUR 9,775,153.43
Liabilities due to banks
EUR 9,775,153.43
Other liabilities
EUR 3,553,333.54
Trade creditors (for IAS incl. bills
of exchange) EUR 1,853,609.79
Liabililties due to related companiesEUR 681,273.79
Unspecified other liabilities
EUR 1,018,449.96
thereof liabilities from tax /
financial authorities
EUR 368,407.15
thereof liabilities from social
security
EUR 15,935.23
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 57,800,465.46
Inventory change + own costs (+/-)
EUR 440,550.22
Inventory change (+/-)
EUR 440,550.22
Other operating income
EUR 683,453.11
Cost of materials
EUR 18,483,964.76
Raw materials and supplies, purchased
goods
EUR 16,359,062.30
Purchased services
EUR 2,124,902.46
Gross result (+/-)
EUR 40,440,504.03
Staff expenses
EUR 24,088,732.04
Wages and salaries
EUR 19,775,222.65
Social security contributions and
expenses for pension plans and
benefits
EUR 4,313,509.39
Total depreciation
EUR 801,940.33
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 801,940.33
Other operating expenses
EUR 13,736,548.11
Operating result from continuing
operations
EUR 1,813,283.55
Interest result (+/-)
EUR -520,554.43
Interest and similar income
EUR 79,851.11
thereof from related companies
EUR 6,273.97
Interest and similar expenses
EUR 600,405.54
Financial result (+/-)
EUR -520,554.43
Result from ordinary operations (+/-)
EUR 1,292,729.12
Income tax / refund of income tax (+/-)EUR -367,703.99
Other taxes / refund of taxes
EUR -16,316.65
Tax
(+/-)
EUR -384,020.64
Annual surplus / annual deficit
EUR 908,708.48
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
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.