|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOPCUT-BULLMER GMBH |
|
|
|
|
Registered Office : |
Heutal 7 D 72537 Mehrstetten |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.04.2006 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
· Manufacture of electric equipment · Wholesale of computers, computer peripheral equipment and software |
|
|
|
|
No. of Employees : |
134 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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
TOPCUT-BULLMER GMBH
Company Status: active
Heutal 7
D 72537 Mehrstetten
Telephone:07381/183-0
Telefax: 07381/723
Homepage: www.topcut-bullmer.de
E-mail: info@topcut-bullmer.de
VAT no.: DE247985898
LEGAL FORM Private limited company
Date of foundation: 06.04.2006
Shareholders'
agreement: 06.04.2006
Registered on: 18.01.2011
Commercial Register: Local court 70190 Stuttgart
under: HRB 736264
Share capital: EUR 604,000.00
Shareholder:
Zhejiang New Jack Sewing Machine Co. Ltd.
Jiaojiang District Taizhon
15 Airport Road South
THA Zhejian Province
Legal form: Other legal form
Share: EUR 604,000.00
Manager:
Marc Andre Hasler
D 86678 Ehingen
having sole power of representation
born: 17.04.1978
Manager:
Jiming Ruan
RC Taizhou City, Zhejiang Provinc
having sole power of representation
born: 02.10.1965
Nationality: Chinese
Further functions/participations of Marc Andre Hasler (Manager)
Manager:
topcut-bullmer Grundstücksverwaltungs GmbH
Pappelallee 41
D 22089 Hamburg
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 02.12.2010
Reg. data: 20355 Hamburg, HRB 116107
21.04.2006 - 30.11.2009 TOPCUT GmbH
Wernher-von-Braun-Str. 2
D 86368 Gersthofen
Private limited company
02.01.2009 - 14.01.2013 Manager
Anton Stahl jun.
D 83075 Bad Feilnbach
09.12.2010 - 28.03.2012 Manager
Peng Wang
RC Taizhou City
04.12.2009 - 01.12.2010 Manager
Xing Quing Zhao
RC Zhejiang
Sectors
2790 Manufacture of other electric equipment n.e.c.
46149 Agents involved in the sale of electrotechnical and
electronical products n.e.c.
46510 Wholesale of computers, computer peripheral equipment and
software
62019 Other software development activities
Shareholder:
topcut-bullmer Grundstücksverwaltungs GmbH
Pappelallee 41
D 22089 Hamburg
Legal form: Private limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 24,900.00
Reg. data: 02.12.2010
Local court 20355 Hamburg
HRB 116107
Payment experience: within periods customary in this trade
Negative information:We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Heutal 7
D 72537 Mehrstetten
Land register documents were not available.
COMMERZBANK, REUTLINGEN
Sort. code: 64040033, BIC: COBADEFF640
KREISSPARKASSE REUTLINGEN, REUTLINGEN
Sort. code: 64050000, BIC: SOLADES1REU
Turnover: 2011 EUR 20,220,258.00
2012 EUR 17,195,066.00
Profit: 2011 EUR 101,557.00
2012 EUR -76,299.00
further business figures:
Equipment: EUR 119,501.00
Ac/ts receivable: EUR 1,814,761.00
Liabilities: EUR 6,677,018.00
Total numbers of vehicles: 13
Employees: 134
- Trainees: 4
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 56.62
Liquidity ratio: 0.66
Return on total capital [%]: -0.94
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 41.10
Liquidity ratio: 0.72
Return on total capital [%]: 1.24
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 41.11
Liquidity ratio: 0.59
Return on total capital [%]: 1.49
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: 01.01.2012
- 31.12.2012
ASSETS EUR 8,377,692.54
Fixed assets EUR 2,047,558.92
Intangible assets EUR 1,745,360.92
Internally generated industrial
property rights and similar rights
and assets EUR 1,457,020.92
Goodwill EUR 229,990.00
Other / unspecified intangible assets EUR 58,350.00
Tangible assets EUR 277,198.00
Plant / machinery EUR 157,697.00
Other tangible assets / fixtures and
fittings EUR 119,501.00
Financial assets EUR 25,000.00
Shares in participations /
subsidiaries and the like EUR 25,000.00
Shares in investee companies EUR 25,000.00
Current assets EUR 6,311,007.62
Stocks EUR 4,420,850.36
Accounts receivable EUR 1,814,761.07
Amounts due from related companies EUR 117,266.75
Amounts due from investee companies EUR 351,280.33
Other debtors and assets EUR 1,346,213.99
Liquid means EUR 75,396.19
Remaining other assets EUR 19,126.00
Accruals (assets) EUR 19,126.00
LIABILITIES EUR 8,377,692.54
Shareholders' equity EUR 974,279.34
Capital EUR 604,000.00
Subscribed capital (share capital) EUR 604,000.00
Balance sheet profit/loss (+/-) EUR 370,279.34
Profit / loss brought forward EUR 446,577.93
Annual surplus / annual deficit EUR -76,298.59
Provisions EUR 333,000.00
Liabilities EUR 6,677,017.80
Financial debts EUR 441,176.48
Liabilities due to banks EUR 441,176.48
Other liabilities EUR 6,235,841.32
Liabililties due to related companies EUR 933,503.99
Unspecified other liabilities EUR 5,302,337.33
Other liabilities EUR 393,395.40
Deferred taxes (not included under
provisions/liabilities) EUR 393,395.40
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 10,479,074.27
Staff expenses EUR 6,733,160.20
Wages and salaries EUR 5,630,058.79
Social security contributions and
expenses for pension plans and
benefits EUR 1,103,101.41
Total depreciation EUR 215,491.13
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 215,491.13
Other operating expenses EUR 3,314,485.64
Operating result from continuing
operations EUR 215,937.30
Interest result (+/-) EUR -115,882.69
Interest and similar income EUR 10,601.41
thereof from related companies EUR 10,588.33
Interest and similar expenses EUR 126,484.10
thereof paid to related companies EUR 19,513.68
Financial result (+/-) EUR -115,882.69
Result from ordinary operations (+/-) EUR 100,054.61
Income tax / refund of income tax (+/-) EUR -172,936.20
Other taxes / refund of taxes EUR -3,417.00
Tax (+/-) EUR -176,353.20
Annual surplus / annual deficit EUR -76,298.59
Type of balance sheet:
Company balance sheet
Financial year: 01.01.2011
- 31.12.2011
ASSETS EUR 8,449,793.10
Fixed assets EUR 1,667,700.60
Intangible assets EUR 1,303,681.60
Internally generated industrial
property rights and similar rights
and assets EUR 952,502.60
Goodwill EUR 250,000.00
Other / unspecified intangible assets EUR 101,179.00
Tangible assets EUR 339,119.00
Plant / machinery EUR 253,347.00
Other tangible assets / fixtures and
fittings EUR 85,772.00
Financial assets EUR 24,900.00
Shares in participations /
subsidiaries and the like EUR 24,900.00
Shares in investee companies EUR 24,900.00
Current assets EUR 6,742,591.50
Stocks EUR 3,707,045.27
Accounts receivable EUR 2,863,235.87
Amounts due from related companies EUR 298,798.47
Amounts due from investee companies EUR 379,430.83
Other debtors and assets EUR 2,185,006.57
Liquid means EUR 172,310.36
Remaining other assets EUR 39,501.00
Accruals (assets) EUR 39,501.00
LIABILITIES EUR 8,449,793.10
Shareholders' equity EUR 1,050,577.93
Capital EUR 604,000.00
Subscribed capital (share capital) EUR 604,000.00
Balance sheet profit/loss (+/-) EUR 446,577.93
Profit / loss brought forward EUR 345,021.22
Annual surplus / annual deficit EUR 101,556.71
Provisions EUR 416,000.00
Liabilities EUR 6,726,039.63
Financial debts EUR 656,578.54
Liabilities due to banks EUR 656,578.54
Other liabilities EUR 6,069,461.09
Liabililties due to related companies EUR 1,119,462.08
Unspecified other liabilities EUR 4,949,999.01
Other liabilities EUR 257,175.54
Deferred taxes (not included under
provisions/liabilities) EUR 257,175.54
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 10,559,979.38
Staff expenses EUR 6,623,818.64
Wages and salaries EUR 5,500,680.51
Social security contributions and
expenses for pension plans and
benefits EUR 1,123,138.13
Total depreciation EUR 189,378.70
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 189,378.70
Other operating expenses EUR 3,364,752.71
Operating result from continuing
operations EUR 382,029.33
Interest result (+/-) EUR -80,678.86
Interest and similar income EUR 13,940.81
thereof from related companies EUR 9,430.83
Interest and similar expenses EUR 94,619.67
thereof paid to related companies EUR 34,229.66
Financial result (+/-) EUR -80,678.86
Result from ordinary operations (+/-) EUR 301,350.47
Income tax / refund of income tax (+/-) EUR -193,544.03
Other taxes / refund of taxes EUR -6,249.73
Tax (+/-) EUR -199,793.76
Annual surplus / annual deficit EUR 101,556.71
Inconsistent balance sheets:
Financial year published on
01.01.2009 - 31.12.2009 11.10.2010
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 : |
NIS |
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.