|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GAPCON
GMBH |
|
|
|
|
Registered Office : |
Walzwerkstr.
20, D 47877 Willich |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
24.01.2006 |
|
|
|
|
Com. Reg. No.: |
HRB
13288 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Manufacture of machinery for paper and paperboard
production |
|
|
|
|
No. of Employees : |
46 |
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 : |
Slow but correct |
|
|
|
|
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 |
Company
Status: active
Walzwerkstr. 20
D 47877 Willich
Telephone:02154/88772-103
Telefax:
02154/88772-110
Homepage: www.gapcon.com
E-mail: info@gapcon.com
VAT
no.: DE814699504
Business
relations are permissible.
LEGAL
FORM Private limited company
Date
of foundation : 24.01.2006
Shareholders'
Agreement : 24.01.2006
Registered
on : 13.01.2011
Commercial
Register : Local court 47798 Krefeld
Under : HRB 13288
Share capital: EUR 1,000,000.00
Shareholder:
Irle Deuz GmbH
Hüttenweg 5
D 57250 Netphen
Post Box:
31 61, D 57244 Netphen
Legal form: Private
limited company
Share capital: EUR 4,500,000.00
Share: EUR 800,000.00
Registered on: 30.12.1908
Reg. data: 57072 Siegen,
HRB 1181
Shareholder:
Wolfgang Wiertz
D 51371 Leverkusen
born: 05.02.1962
Share: EUR 100,000.00
Shareholder:
Wolfgang Mark
D 40667 Meerbusch
born: 07.02.1965
Share: EUR 100,000.00
Manager:
Wolfgang Wiertz
D 51371 Leverkusen
authorized to jointly
represent the company
born: 05.02.1962
Profession: graduate engineer
Manager:
Wolfgang Mark
D 40667 Meerbusch
authorized to jointly
represent the company
born: 07.02.1965
Profession: graduate
engineer
Further
functions/participations of Wolfgang Wiertz (Manager)
Manager:
GapCon SRM Automation GmbH
Walzwerkstr. 20
D 47877 Willich
Legal form: Private
limited company
Share capital: EUR 300,000.00
Registered
on: 24.02.2012
Reg. data: 47798 Krefeld, HRB 13813
Further functions/participations of Wolfgang Mark (Manager)
Manager:
GapCon SRM Automation GmbH
Walzwerkstr. 20
D 47877 Willich
Legal form: Private
limited company
Share capital: EUR 300,000.00
Registered
on: 24.02.2012
Reg. data: 47798 Krefeld, HRB 13813
24.01.2006 - 13.01.2011 GapCon
GmbH
Am Meerkamp 19
D
40667 Meerbusch
Private limited company
Main industrial sector
28950 Manufacture of machinery for paper
and paperboard production
4669 Wholesale of other machinery,
equipment and supplies
9529 Repair
of other personal and household goods
Shareholder: GapCon SRM Automation GmbH
Walzwerkstr. 20
D 47877 Willich
Legal form: Private
limited company
Company Status: active
Share capital: EUR 300,000.00
Share: EUR 300,000.00
Reg. data: 24.02.2012
Local court 47798 Krefeld
HRB 13813
within
agreed terms
We
have no negative information at hand.
Balance
sheet year: 2011
Type
of ownership : proprietor
Share : 100.00 %
Address Walzwerkstr. 20
D 47877 Willich
Land register documents were not available.
Principal bank
SPARKASSE SIEGEN, SIEGEN
Sort. code: 46050001, BIC: WELADED1SIE
Further bank
LANDESBANK BADEN-WÜRTTEMBERG/RHEINLAND-PFALZ
BANK, MAINZ A RHEIN
Sort. code: 60050101, BIC: SOLADEST600
Turnover: 2011 EUR 28,441,203.00
Profit: 2011 EUR 2,788,156.00
Equipment: EUR 290,566.00
Ac/ts receivable: EUR
9,995,318.00
Liabilities: EUR 8,513,389.00
Total numbers of vehicles: 12
Employees:
46
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 29.45
Liquidity ratio: 1.19
Return on total capital [%]: 16.55
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 25.38
Liquidity ratio: 1.85
Return on total capital [%]: 9.08
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 29.68
Liquidity ratio: 1.35
Return on total capital [%]: 15.12
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 29.86
Liquidity ratio: 1.56
Return on total capital [%]: 10.88
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 16,846,359.69
Fixed assets EUR 4,612,913.01
Intangible assets EUR 5,648.00
Concessions, licences, rights EUR 5,648.00
Tangible assets EUR
4,323,921.35
Land / similar rights EUR 3,248,478.35
Plant / machinery EUR 784,877.00
Other tangible assets / fixtures and
fittings EUR 290,566.00
Financial assets EUR 283,343.66
Shares in participations /
subsidiaries and the like EUR 283,343.66
Shares in related companies EUR 283,343.66
Current assets EUR 12,233,446.68
Stocks EUR 2,144,352.04
Raw materials, consumables and
supplies EUR 255,742.53
Finished goods / work in progress EUR
4,719,200.00
Advance payments made EUR
397,465.75
Minus other deductible items /
valuation adjustments of stocks EUR -3,228,056.24
Accounts receivable EUR
9,995,317.84
Trade debtors EUR 8,067,372.50
Amounts due from related companies EUR 445,071.15
Other debtors and assets EUR 1,482,874.19
Liquid means EUR 93,776.80
LIABILITIES EUR 16,846,359.69
Shareholders' equity EUR
4,961,498.15
Capital EUR 1,000,000.00
Subscribed capital (share capital) EUR 1,000,000.00
Balance sheet profit/loss (+/-) EUR 3,961,498.15
Profit / loss brought forward EUR 1,673,341.93
Annual surplus / annual deficit EUR 2,788,156.22
withdrawn/distributed EUR
500,000.00
Provisions EUR 3,371,472.50
Provisions for taxes EUR
1,165,676.00
Other / unspecified provisions EUR 2,205,796.50
Liabilities EUR 8,513,389.04
Financial debts EUR
2,820,237.58
Liabilities due to banks EUR 2,820,237.58
Other liabilities EUR 5,693,151.46
Trade creditors (for IAS incl. bills
of exchange) EUR 1,516,278.49
Liabililties due to related companies EUR
3,731,503.69
Unspecified other liabilities EUR 445,369.28
thereof liabilities from tax /
financial authorities EUR 216,589.93
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm. Code (HGB)
Sales EUR 28,441,203.46
Inventory change + own costs (+/-) EUR 2,529,709.50
Inventory change (+/-) EUR
2,480,579.00
Capitalised own costs EUR
49,130.50
Other operating income EUR 121,975.95
Cost of materials EUR
18,529,474.50
Raw materials and supplies, purchased
goods EUR 16,723,310.75
Purchased services EUR 1,806,163.75
Gross result (+/-) EUR 12,563,414.41
Staff expenses EUR 4,086,865.81
Wages and salaries EUR
3,592,758.61
Social security contributions and
expenses for pension plans and
benefits EUR 494,107.20
Total depreciation EUR
258,232.17
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 258,232.17
Other operating expenses EUR 4,018,929.47
Operating result from continuing
operations EUR
4,199,386.96
Interest result (+/-) EUR
-170,048.78
Interest and similar income EUR 37,097.54
thereof from related companies EUR 7,330.00
Interest and similar expenses EUR 207,146.32
thereof paid to related companies EUR 45,942.10
Financial result (+/-) EUR -170,048.78
Result from ordinary operations (+/-) EUR 4,029,338.18
Income tax / refund of income tax (+/-) EUR
-1,227,093.60
Other taxes / refund of taxes EUR -14,088.36
Tax (+/-) EUR -1,241,181.96
Annual surplus / annual deficit EUR 2,788,156.22
Type of balance sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 10,519,890.62
Fixed assets EUR 3,174,245.46
Intangible assets EUR 10,073.00
Other / unspecified intangible assets EUR 10,073.00
Tangible assets EUR 3,030,828.80
Other / unspecified tangible assets EUR 3,030,828.80
Financial assets EUR 133,343.66
Other / unspecified financial assets EUR 133,343.66
Current assets EUR 7,345,645.16
Accounts receivable EUR
3,251,171.39
Other debtors and assets EUR 3,251,171.39
Liquid means EUR 4,094,473.77
LIABILITIES EUR 10,519,890.62
Shareholders' equity EUR
2,673,341.93
Capital EUR 1,000,000.00
Subscribed capital (share capital) EUR 1,000,000.00
Balance sheet profit/loss (+/-) EUR 1,673,341.93
Profit / loss brought forward EUR 718,427.81
Annual surplus / annual deficit EUR 954,914.12
Provisions EUR 1,997,278.00
Liabilities EUR 5,849,270.69
Other liabilities EUR
5,849,270.69
Unspecified other
liabilities EUR 5,849,270.69
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.