MIRA INFORM REPORT
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Report Date : |
30.05.2013 |
IDENTIFICATION DETAILS
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Name : |
WALTER KRAUS GMBH |
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Registered Office : |
Aindlinger Strasse 13, Augsburg, 86167 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.12.1979 |
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Com. Reg. No.: |
7776 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
designs and manufactures
electromechanical components |
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No. of Employees : |
147 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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.
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Source : CIA |
Company name & address
Walter Kraus GmbH
Aindlinger Strasse 13
Augsburg, 86167
Germany
Tel: +49 (0) 821 796090
Fax: +49 (0) 821 7960926
Synthesis
Employees: 147
Company Type: Private Parent
Corporate Family: 2
Companies
Incorporation Date: 22-Dec-1979
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 12.4
Business Description
Established in 1955, Walter Kraus GmbH designs and manufactures electromechanical components. Its range of products includes slip ring assemblies, voltage converters, and bus and collecting bars. The company additionally manufactures components for switchgear devices, contactors and fork-lift trucks. It serves the industrial, railway, and oil and gas industries. In addition, the company produces signal and data transmitters for excavators, sewage plants and machine tools. It offers connectors, insulators and voltage detectors for various railway applications. The company also manufactures electromechanical spare parts, such as carbon brushes, battery monitoring devices, flashlights, fuses, emergency switches, push buttons, tyres and wheels.
Industry
Industry Electronic Instruments and Controls
ANZSIC 2006: 2439 - Other
Electrical Equipment Manufacturing
NACE 2002: 3120 - Manufacture
of electricity distribution and control apparatus
NAICS 2002: 335313 -
Switchgear and Switchboard Apparatus Manufacturing
UK SIC 2003: 3120 - Manufacture
of electricity distribution and control apparatus
UK SIC 2007: 2712 - Manufacture
of electricity distribution and control apparatus
US SIC 1987: 3613 - Switchgear
and Switchboard Apparatus
Key
Executives
Name Title
Peter Kraus Managing director
Walter Kraus Managing director
Markus Kraus Managing director
Registered No.(DEU): 7776
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Aindlinger Strasse 13
Augsburg, 86167
Germany
Tel: +49 (0) 821 796090
Fax: +49 (0) 821 7960926
Sales EUR(mil): NA
Assets EUR(mil): 9.6
Employees: 147
Fiscal Year End: 31-Dec-2011
Industry: Electronic
Instruments and Controls
Incorporation Date: 22-Dec-1979
Company Type: Private
Parent
Quoted Status: Not
Quoted
Registered No.(DEU): 7776
Managing director: Walter
Kraus
Industry Codes
ANZSIC 2006 Codes:
2439 - Other Electrical Equipment Manufacturing
2419 - Other Professional and Scientific Equipment Manufacturing
2149 - Other Basic Non-Ferrous Metal Product Manufacturing
NACE 2002 Codes:
3120 - Manufacture of electricity distribution and control
apparatus
3162 - Manufacture of other electrical equipment not elsewhere
classified
3130 - Manufacture of insulated wire and cable
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
NAICS 2002 Codes:
335313 - Switchgear and Switchboard Apparatus Manufacturing
335999 - All Other Miscellaneous Electrical Equipment and Component
Manufacturing
33592 - Communication and Energy Wire and Cable Manufacturing
334513 - Instrument's and Related Products Manufacturing for
Measuring, Displaying, and Controlling Industrial Process Variable
US SIC 1987:
3613 - Switchgear and Switchboard Apparatus
3823 - Industrial Instruments for Measurement, Display, and
Control of Process Variables; and Related Products
3699 - Electrical Machinery, Equipment, and Supplies, Not
Elsewhere Classified
3357 - Drawing and Insulating of Nonferrous Wire
UK SIC 2003:
3120 - Manufacture of electricity distribution and control
apparatus
3162 - Manufacture of other electrical equipment not elsewhere
classified
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
3130 - Manufacture of insulated wire and cable
UK SIC 2007:
2712 - Manufacture of electricity distribution and control
apparatus
2790 - Manufacture of other electrical equipment
2732 - Manufacture of other electronic and electric wires and
cables
2651 - Manufacture of instruments and appliances for measuring,
testing and navigation
Business
Description
Established in
1955, Walter Kraus GmbH designs and manufactures electromechanical components.
Its range of products includes slip ring assemblies, voltage converters, and
bus and collecting bars. The company additionally manufactures components for
switchgear devices, contactors and fork-lift trucks. It serves the industrial,
railway, and oil and gas industries. In addition, the company produces signal
and data transmitters for excavators, sewage plants and machine tools. It
offers connectors, insulators and voltage detectors for various railway
applications. The company also manufactures electromechanical spare parts, such
as carbon brushes, battery monitoring devices, flashlights, fuses, emergency
switches, push buttons, tyres and wheels.
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Corporate Family |
Corporate
Structure News: |
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Walter
Kraus GmbH |
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Walter Kraus GmbH |
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Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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Walter Kraus GmbH |
Parent |
Augsburg, Bayern |
Germany |
Electronic Instruments and Controls |
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125 |
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EKR Elektro-Kontakt Radebeul
GmbH |
Subsidiary |
Radebeul, Sachsen |
Germany |
Electronic Instruments and Controls |
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28 |
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Executive report
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Executives |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Annual
Profit & Loss
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Taxes and social security costs |
1.7 |
1.6 |
1.5 |
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Total payroll costs |
10.1 |
9.0 |
9.0 |
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Fixed asset depreciation and amortisation |
0.1 |
0.1 |
0.1 |
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Other operating costs |
4.0 |
3.5 |
3.4 |
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Net operating
income |
0.4 |
0.7 |
0.4 |
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Interest received from loans |
0.0 |
0.0 |
0.0 |
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Other income |
0.1 |
0.1 |
0.1 |
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Interest payable on loans |
0.2 |
0.1 |
0.1 |
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Other expenses |
- |
0.1 |
- |
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Total expenses |
0.1 |
0.1 |
0.1 |
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Profit before tax |
0.2 |
0.6 |
0.3 |
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Provisions |
3.5 |
3.7 |
3.3 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.2 |
0.2 |
0.1 |
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Net profit |
0.1 |
0.4 |
0.2 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.6 |
0.7 |
0.7 |
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Total reserves |
2.3 |
2.0 |
1.9 |
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Profits for the year |
0.1 |
0.4 |
0.2 |
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Profit brought forward from previous
year(s) |
0.0 |
0.0 |
0.0 |
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Total
stockholders equity |
3.0 |
3.1 |
2.9 |
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Provisions and allowances |
3.2 |
3.7 |
3.4 |
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Other debentures |
0.8 |
- |
- |
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Total long-term
liabilities |
0.8 |
- |
- |
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Trade creditors |
0.5 |
- |
- |
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Other loans |
4.8 |
- |
- |
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Taxation and social security |
0.1 |
- |
- |
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Total current
liabilities |
5.4 |
2.9 |
3.1 |
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Total
liabilities (including net worth) |
12.4 |
9.7 |
9.4 |
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Total tangible
fixed assets |
0.3 |
0.2 |
0.2 |
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Long-term investments |
0.5 |
0.5 |
- |
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Participating interest |
- |
- |
0.6 |
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Total financial assets |
0.5 |
0.5 |
0.6 |
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Total
non-current assets |
0.7 |
0.7 |
0.8 |
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Net stocks and work in progress |
5.9 |
3.9 |
3.0 |
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Trade debtors |
3.9 |
- |
- |
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Other receivables |
0.7 |
- |
- |
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Total
receivables |
5.6 |
5.0 |
5.6 |
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Owing from associated companies |
1.0 |
- |
- |
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Cash and liquid assets |
0.0 |
0.0 |
0.0 |
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Recoverable taxation |
0.0 |
0.0 |
- |
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Total current
assets |
11.6 |
8.9 |
8.5 |
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Prepaid expenses and deferred costs |
0.1 |
0.0 |
0.0 |
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Total assets |
12.4 |
9.7 |
9.4 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
21.34 |
30.32 |
27.13 |
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Acid test ratio |
10.40 |
17.06 |
17.75 |
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Total liabilities to net worth |
0.20% |
0.10% |
0.11% |
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Net worth to total assets |
0.02% |
0.03% |
0.03% |
|
Current liabilities to net worth |
0.18% |
0.10% |
0.11% |
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Current liabilities to stock |
0.09% |
0.08% |
0.11% |
|
Fixed assets to net worth |
0.02% |
0.02% |
0.03% |
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Return on assets |
0.00% |
0.01% |
0.00% |
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Shareholders' return |
0.00% |
0.01% |
0.01% |
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Profit per employee |
0.03 |
0.22 |
0.11 |
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Average wage per employee |
4.92 |
5.19 |
4.76 |
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Net worth |
3.0 |
3.1 |
2.9 |
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Number of employees |
147 |
131 |
136 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.24 |
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UK Pound |
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.72.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.