MIRA INFORM REPORT

 

 

Report Date :

27.11.2013

 

IDENTIFICATION DETAILS

 

Name :

LEICA MIKROSYSTEME VERTRIEB GMBH

 

 

Registered Office :

Ernst-Leitz-Str. 17-37, D 35578 Wetzlar

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

17.10.1985

 

 

Com. Reg. No.:

HRB 5464

 

 

Legal Form :

Private limited company

 

 

Line of Business :

·         Agents involved in the sale of fine mechanical, photo and optical products

Wholesaler of electrical domestic appliances

Wholesaler of nonelectric domestic appliances, metal and other household goods

 

 

No. of Employees :

161

 

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 :

No Complaints 

 

 

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 – September 30th, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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 name & address

 

Leica Mikrosysteme Vertrieb GmbH

 

Ernst-Leitz-Str. 17-37

D 35578 Wetzlar

Telephone:        06441/29-0

Telefax:             06441/29-2599

Homepage:        www.leica-microsystems.com

E-mail:              webmaster@leica-microsystems.com

 

 

VAT no

 

DE812487602

 

Company Status

 

active

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         17.10.1985

Shareholders'

agreement:                    17.10.1985

Registered on:               13.08.2007

Commercial Register:     Local court 35578 Wetzlar

under:                                       HRB 5464

Share capital:                EUR             26,000.00

 

 

Shareholder

 

Leica Microsystems Holdings GmbH

Ernst-Leitz-Str. 17-37

D 35578 Wetzlar

Legal form: Private limited company

Share capital:     EUR         26,002,740.00

Share:             EUR             26,000.00

Registered on: 18.01.1930

Reg. data: 35578 Wetzlar, HRB 7

Manager

 

Frank Bunge

D 55116 Mainz

authorized to jointly represent the company

born: 15.11.1959

 

Manager:

                     Colin Davis

                     GB - London

                     authorized to jointly represent the company

                     born: 01.10.1949

                     Nationality: British

Manager:

                     Cornelis Johannes Maria van Ophem

                     CH  Gryon

                     authorized to jointly represent the company

                     born: 03.11.1962

                     Profession: Businessman

                     Nationality: Swiss

                     Marital status: unknown

 

Proxy

 

Peter Hausammann

D 64354 Reinheim

authorized to jointly represent the company

born: 31.12.1954

 

Proxy:

                     Karim Safaee

                     D 61348 Bad Homburg

                     authorized to jointly represent the company

                     born: 13.12.1966

Proxy:

                     Yves Janin

                     F  Boeurs en Othe

                     authorized to jointly represent the company

                     born: 12.01.1962

                     Nationality: French

Proxy:

                     Dr. Jürgen Kreß

                     D 61440 Oberursel

                     authorized to jointly represent the company

                     born: 15.03.1971

 


Further functions/participations of Colin Davis (Manager)

 

Manager:

                     Kerr Gesellschaft mit beschränkter Haftung

                     Murgstr. 1/14

                     D 76437 Rastatt

                     Legal form: Private limited company

                     Share capital:     EUR            153,387.56

                     Registered

                     on:         26.06.1972

                     Reg. data:  68159 Mannheim, HRB 522335

Manager:

                     Danaher Motion Holding GmbH

                     Pempelfurtstr. 1

                     D 40880 Ratingen

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         20.08.2008

                     Reg. data:  40227 Düsseldorf, HRB 59330

Manager:

                     ALLTEC Angewandte Laserlicht Technologie

                     Gesellschaft mit beschränkter Haftung

                     An der Trave 27-31

                     D 23923 Selmsdorf

                     Legal form: Private limited company

                     Share capital:     EUR          1,402,933.79

                     Registered

                     on:         21.01.2003

                     Reg. data:  19053 Schwerin, HRB 7884

Manager:

                     Radiometer GmbH

                     Linsellesstr. 142

                     D 47877 Willich

                     Legal form: Private limited company

                     Share capital:     EUR          2,045,200.00

                     Registered

                     on:         05.08.1991

                     Reg. data:  47798 Krefeld, HRB 4505

Manager:

                     KaVo Dental GmbH

                     Bismarckring 39

                     D 88400 Biberach

                     Legal form: Private limited company

                     Share capital:     EUR          8,181,000.00

                     Registered

                     on:         03.08.2004

                     Reg. data:  89073 Ulm, HRB 641816

Manager:

                     Leica Microsystems Holdings GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR         26,002,740.00

                     Registered

                     on:         18.01.1930

                     Reg. data:  35578 Wetzlar, HRB 7

Manager:

                     Danaher Acquisition GmbH

                     An der Meil 2

                     D 65555 Limburg

                     Legal form: Private limited company

                     Share capital:     EUR             50,000.00

                     Registered

                     on:         22.07.2008

                     Reg. data:  65549 Limburg, HRB 4261

Manager:

                     Kaltenbach & Voigt Holding GmbH

                     Bismarckring 39

                     D 88400 Biberach

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         25.11.2008

                     Reg. data:  89073 Ulm, HRB 722861

Manager:

                     KOLLMORGEN Europe GmbH

                     Pempelfurtstr. 1

                     D 40880 Ratingen

                     Legal form: Private limited company

                     Share capital:     EUR            238,000.00

                     Registered

                     on:         03.04.1998

                     Reg. data:  40227 Düsseldorf, HRB 35844

Manager:

                     Leica Microsystems GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR         12,000,000.00

                     Registered

                     on:         19.12.2005

                     Reg. data:  35578 Wetzlar, HRB 5187

Manager:

                     Leica Microsystems IR GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         22.03.2000

                     Reg. data:  35578 Wetzlar, HRB 2349

Manager:

                     Kaltenbach & Voigt GmbH

                     Bismarckring 39

                     D 88400 Biberach

                     Legal form: Private limited company

                     Share capital:     EUR             50,000.00

                     Registered

                     on:         28.07.2004

                     Reg. data:  89073 Ulm, HRB 641815

Manager:

                     Danaher Motion Finance GmbH

                     Eichenbruch 1

                     D 40468 Düsseldorf

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         10.12.2008

                     Reg. data:  40227 Düsseldorf, HRB 60007

Manager:

                     Leica Microsystems CMS GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR            196,000.00

                     Registered

                     on:         12.03.2001

                     Reg. data:  35578 Wetzlar, HRB 2432

Manager:

                     Danaher Evolution GmbH

                     Bismarckring 39

                     D 88400 Biberach

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         16.06.2005

                     Reg. data:  89073 Ulm, HRB 641890

Manager:

                     Danaher Verwaltungs GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             75,000.00

                     Registered

                     on:         19.02.1997

                     Reg. data:  70190 Stuttgart, HRB 460866

Manager:

                     Danaher Acquisition Holding GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             50,000.00

                     Registered

                     on:         03.12.2007

                     Reg. data:  70190 Stuttgart, HRB 724724

Manager:

                     Danaher Acquisition Finance GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             25,600.00

                     Registered

                     on:         31.01.2008

                     Reg. data:  70190 Stuttgart, HRB 725361

 

Further functions/participations of Cornelis Johannes Maria van Ophem (Manager)

 

Manager:

                     Hach Lange GmbH

                     Königsweg 10

                     D 14163 Berlin

                     Post Box:

                     37 03 63, D 14133 Berlin

                     Legal form: Private limited company

                     Share capital:     EUR          3,000,000.00

                     Registered

                     on:         03.11.2004

                     Reg. data:  14057 Berlin, HRB 94716 B

Manager:

                     Leica Microsystems Holdings GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR         26,002,740.00

                     Registered

                     on:         18.01.1930

                     Reg. data:  35578 Wetzlar, HRB 7

Manager:

                     THOMSON NEFF GmbH

                     Nürtinger Str. 70

                     D 72649 Wolfschlugen

                     Legal form: Private limited company

                     Share capital:     EUR          3,632,000.00

                     Registered

                     on:         10.08.1967

                     Reg. data:  70190 Stuttgart, HRB 220154

Manager:

                     Qualitrol Gesellschaft mit beschränkter

                     Haftung

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             31,000.00

                     Registered

                     on:         20.11.1995

                     Reg. data:  70190 Stuttgart, HRB 460606

Manager:

                     X-Rite GmbH

                     Fraunhoferstr. 14

                     D 82152 Planegg

                     Legal form: Private limited company

                     Share capital:     EUR            204,516.75

                     Registered

                     on:         07.12.1989

                     Reg. data:  80333 München, HRB 89433

Manager:

                     Negele Messtechnik GmbH

                     Raiffeisenweg 7

                     D 87743 Egg

                     Legal form: Private limited company

                     Share capital:     EUR             25,564.59

                     Registered

                     on:         28.01.1999

                     Reg. data:  87700 Memmingen, HRB 10496

Manager:

                     OTT Hydromet GmbH

                     Ludwigstr. 16

                     D 87437 Kempten

                     Legal form: Private limited company

                     Share capital:     EUR          7,000,000.00

                     Registered

                     on:         20.12.2001

                     Reg. data:  87435 Kempten, HRB 7687

Manager:

                     Veeder-Root Holding GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         28.05.2008

                     Reg. data:  70190 Stuttgart, HRB 726413

Manager:

                     Leica Microsystems GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR         12,000,000.00

                     Registered

                     on:         19.12.2005

                     Reg. data:  35578 Wetzlar, HRB 5187

Manager:

                     Veeder-Root Finance GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         10.12.2008

                     Reg. data:  70190 Stuttgart, HRB 728174

Manager:

                     Qualitrol Holding GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         21.12.2005

                     Reg. data:  70190 Stuttgart, HRB 460965

Manager:

                     Water Quality GmbH

                     Königsweg 10

                     D 14163 Berlin

                     Legal form: Private limited company

                     Share capital:     EUR             30,000.00

                     Registered

                     on:         03.12.2010

                     Reg. data:  70190 Stuttgart, HRB 735707

Manager:

                     Danaher Industrial Controls GmbH

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         17.12.2003

                     Reg. data:  70190 Stuttgart, HRB 460893

Manager:

                     Hach Lange Holding GmbH

                     Königsweg 10

                     D 14163 Berlin

                     Post Box:

                     37 03 63, D 14133 Berlin

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         29.07.2008

                     Reg. data:  14057 Berlin, HRB 114683 B

Manager:

                     Beckman Coulter Holdings GmbH

                     Bethmannstr. 50-54

                     D 60311 Frankfurt

                     Legal form: Private limited company

                     Share capital:     EUR            479,700.00

                     Registered

                     on:         15.11.1994

                     Reg. data:  60313 Frankfurt, HRB 39160

Manager:

                     Leica Microsystems IR GmbH

                     Ernst-Leitz-Str. 17-37

                     D 35578 Wetzlar

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         22.03.2000

                     Reg. data:  35578 Wetzlar, HRB 2349

Manager:

                     Hach Lange Finance GmbH

                     Königsweg 10

                     D 14163 Berlin

                     Post Box:

                     37 03 63, D 14133 Berlin

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         09.12.2008

                     Reg. data:  14057 Berlin, HRB 116644 B

Manager:

                     Veeder-Root Gesellschaft mit beschränkter

                     Haftung

                     Uhlandstr. 49

                     D 78554 Aldingen

                     Legal form: Private limited company

                     Share capital:     EUR            352,250.00

                     Registered

                     on:         13.10.1995

                     Reg. data:  70190 Stuttgart, HRB 460605

Manager:

                     Aquafine GmbH

                     Ramskamp 77-85

                     D 25337 Elmshorn

                     Legal form: Private limited company

                     Share capital:     EUR            500,000.00

                     Registered

                     on:         11.03.2008

                     Reg. data:  25421 Pinneberg, HRB 7336 PI

Manager:

                     Sea-Bird GmbH

                     Ludwigstr. 16

                     D 87437 Kempten

                     Post Box:

                     11 67, D 87401 Kempten

                     Legal form: Private limited company

                     Share capital:     EUR             25,000.00

                     Registered

                     on:         02.05.2011

                     Reg. data:  87435 Kempten, HRB 11050

 

 

COMPANY HISTORY

 

17.10.1985 - 28.07.1991  Leica Vertrieb GmbH

                         Ernst-Leitz-Str. 1

                         D 35578 Wetzlar

                         Private limited company

29.07.1991 - 13.05.1998  Leica Vertrieb GmbH

                         Lilienthalstr. 39-45

                         D 64625 Bensheim

                         Private limited company

13.05.1998 - 13.08.2007  Leica Mikrosysteme Vertrieb GmbH

                         Lilienthalstr. 39-45

                         D 64625 Bensheim

                         Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

28.10.2011 - 16.01.2012  Manager

                         Eric Bouvier

                         F - Lyon

21.08.2007 - 16.01.2012  Manager

                         David Roy Martyr

                         GB Daventry

 

 

BUSINESS ACTIVITIES

Main industrial sector

46181   Agents involved in the sale of fine mechanical, photo and optical products

46432   Wholesale of electrical domestic appliances

46495   Wholesale of nonelectric domestic appliances, metal and other household goods n.e.c.

 

 

BRANCHES AND FACTORIES

 

Branch:

                     Leica Mikrosysteme Vertrieb GmbH

                     D 80333 München

Branch:

                     Leica Mikrosysteme Vertrieb GmbH

                     D 70173 Stuttgart

Branch:

                     Leica Mikrosysteme Vertrieb GmbH

                     D 50667 Köln

Branch:

                     Leica Mikrosysteme Vertrieb GmbH

                     D 60313 Frankfurt

Branch:

                     Leica Mikrosysteme Vertrieb GmbH

                     Tiergartenstr. 9

                     D 64646 Heppenheim

Branch:

                     Leica Mikrosysteme Vertrieb GmbH

                     Immenweg 4

                     D 21220 Seevetal

                     TEL.: 04105/83356

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

 

Negative information:      We have no negative information at hand.

 

Balance sheet year:       2012

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Ernst-Leitz-Str. 17-37

                                    D 35578 Wetzlar

 

Land register documents were not available.

 

 

BANKERS

 

COMMERZBANK, FRANKFURT AM MAIN

Sort. code: 50040000, BIC: COBADEFFXXX

 

COMMERZBANK VORMALS DRESDNER BANK, DARMSTADT

Sort. code: 50880050, BIC: DRESDEFF508

 

POSTBANK, FRANKFURT AM MAIN

Sort. code: 50010060, BIC: PBNKDEFFXXX

 

 

FINANCIAL FIGURES

 

Turnover:            2011               EUR        163,711,068.00

                     2012               EUR        166,573,625.00

Profit:              2011               EUR         18,861,891.00

                     2012               EUR          8,637,468.00

further business figures:

Equipment:                              EUR          1,436,884.00

Ac/ts receivable:                       EUR         24,817,283.00

Liabilities:                            EUR         30,050,722.00

Employees:                                                    161

- Trainees:                                                     3

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2012 - 31.12.2012

Equity ratio [%]:                 21.03

Liquidity ratio:                   1.55

Return on total capital [%]:      19.80

 

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]:                 32.16

Liquidity ratio:                   5.41

Return on total capital [%]:      31.27

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                 24.66

Liquidity ratio:                   3.99

Return on total capital [%]:       9.86

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 22.81

Liquidity ratio:                   1.59

Return on total capital [%]:      21.54

 

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         43,623,801.81

 Fixed assets                           EUR          5,276,337.93

  Intangible assets                     EUR             10,088.19

   Concessions, licences, rights        EUR             10,088.19

  Tangible assets                       EUR          1,436,884.23

   Other tangible assets / fixtures and

   fittings                             EUR          1,436,884.23

  Financial assets                      EUR          3,829,365.51

   Securities included in fixed assets  EUR            620,087.51

   Other loans                          EUR          3,209,278.00

 Current assets                         EUR         38,301,267.52

  Stocks                                EUR          8,132,673.15

   Finished goods / work in progress    EUR          8,132,673.15

  Accounts receivable                   EUR         24,817,283.01

   Trade debtors                        EUR         19,462,353.86

   Amounts due from related companies   EUR          5,268,041.77

   Other debtors and assets             EUR             86,887.38

  Liquid means                          EUR          5,351,311.36

 Remaining other assets                 EUR             46,196.36

  Accruals (assets)                     EUR             46,196.36

 

LIABILITIES                             EUR         43,623,801.81

 Shareholders' equity                   EUR            536,827.00

  Capital                               EUR             26,000.00

   Subscribed capital (share capital)   EUR             26,000.00

  Reserves                              EUR            510,827.00

   Retained earnings / revenue reserves EUR            510,827.00

 Provisions                             EUR         12,021,838.69

  Pension provisions and comparable

  provisions                            EUR          7,740,388.00

  Other / unspecified provisions        EUR          4,281,450.69

 Liabilities                            EUR         30,050,722.00

  Other liabilities                     EUR         30,050,722.00

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          2,633,520.97

   Liabilities from received advance

   payments                             EUR          1,211,376.41

   Liabililties due to related companiesEUR         25,522,909.19

   Unspecified other liabilities        EUR            682,915.43

    thereof liabilities from tax /

    financial authorities               EUR            199,749.72

 Other liabilities                      EUR          1,014,414.12

  Deferrals (liabilities)               EUR          1,014,414.12

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

 Sales                                  EUR        166,573,625.31

 Other operating income                 EUR          2,358,985.27

 Cost of materials                      EUR        123,492,827.86

  Raw materials and supplies, purchased

  goods                                 EUR        123,492,827.86

 Gross result (+/-)                     EUR         45,439,782.72

 Staff expenses                         EUR         13,614,310.56

  Wages and salaries                    EUR         11,333,317.01

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          2,280,993.55

 Total depreciation                     EUR            444,701.54

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR            444,701.54

 Other operating expenses               EUR         21,506,012.38

 Operating result from continuing

 operations                             EUR          9,874,758.24

 Interest result (+/-)                  EUR         -1,237,290.67

  Interest and similar income           EUR             67,141.03

  Interest and similar expenses         EUR          1,304,431.70

   thereof paid to related companies    EUR            882,841.28

 Financial result (+/-)                 EUR         -1,237,290.67

 Result from ordinary operations (+/-)  EUR          8,637,467.57

 Expenses for transfer of profits to a

 parent company                         EUR          8,637,467.57

 Annual surplus / annual deficit        EUR                  0.00

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2011 - 31.12.2011

 

ASSETS                                  EUR         60,326,848.90

 Fixed assets                           EUR          5,395,135.99

  Intangible assets                     EUR              4,118.08

   Concessions, licences, rights        EUR              4,118.08

  Tangible assets                       EUR          1,173,409.39

   Other tangible assets / fixtures and

   fittings                             EUR          1,173,409.39

  Financial assets                      EUR          4,217,608.52

   Securities included in fixed assets  EUR            525,803.52

   Other loans                          EUR          3,691,805.00

 Current assets                         EUR         54,722,554.56

  Stocks                                EUR          7,056,183.40

   Finished goods / work in progress    EUR          7,056,183.40

  Accounts receivable                   EUR         23,444,862.05

   Trade debtors                        EUR         20,353,719.17

   Amounts due from related companies   EUR          3,000,610.04

   Other debtors and assets             EUR             90,532.84

  Liquid means                          EUR         24,221,509.11

 Remaining other assets                 EUR            209,158.35

  Accruals (assets)                     EUR            209,158.35

 

LIABILITIES                             EUR         60,326,848.90

 Shareholders' equity                   EUR            536,827.00

  Capital                               EUR             26,000.00

   Subscribed capital (share capital)   EUR             26,000.00

  Reserves                              EUR            510,827.00

   Retained earnings / revenue reserves EUR            510,827.00

 Provisions                             EUR         11,705,458.55

  Pension provisions and comparable

  provisions                            EUR          7,624,932.00

  Other / unspecified provisions        EUR          4,080,526.55

 Liabilities                            EUR         47,414,907.50

  Other liabilities                     EUR         47,414,907.50

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          5,892,307.45

   Liabilities from received advance

   payments                             EUR          2,949,011.01

   Liabililties due to related companiesEUR         37,653,480.58

   Unspecified other liabilities        EUR            920,108.46

    thereof liabilities from tax /

    financial authorities               EUR            148,093.61

 Other liabilities                      EUR            669,655.85

  Deferrals (liabilities)               EUR            669,655.85

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

 Sales                                  EUR        163,711,067.54

 Other operating income                 EUR          2,776,242.96

 Cost of materials                      EUR        113,085,596.44

  Raw materials and supplies, purchased

  goods                                 EUR        113,085,596.44

 Gross result (+/-)                     EUR         53,401,714.06

 Staff expenses                         EUR         11,986,282.50

  Wages and salaries                    EUR          9,893,927.91

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          2,092,354.59

 Total depreciation                     EUR            359,449.36

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR            359,449.36

 Other operating expenses               EUR         21,460,792.60

 Operating result from continuing

 operations                             EUR         19,595,189.60

 Interest result (+/-)                  EUR           -733,298.81

  Interest and similar income           EUR            196,536.91

  Interest and similar expenses         EUR            929,835.72

   thereof paid to related companies    EUR            450,451.59

 Financial result (+/-)                 EUR           -733,298.81

 Result from ordinary operations (+/-)  EUR         18,861,890.79

 Expenses for transfer of profits to a

 parent company                         EUR         18,861,890.79

 Annual surplus / annual deficit        EUR                  0.00

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.62.45

UK Pound

1

Rs.100.86

Euro

1

Rs.84.50

 

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

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.