|
Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
LENZING FIBERS GMBH |
|
|
|
|
Registered Office : |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
|
|
|
|
Country : |
Austria |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.12.1994 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Man-made Fibres. |
|
|
|
|
No. of Employees : |
211 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Austria |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its well-developed market economy, skilled
labor force, and high standard of living, is closely tied to other EU
economies, especially Germany's. Its economy features a large service sector, a
sound industrial sector, and a small, but highly developed agricultural sector.
Following several years of solid foreign demand for Austrian exports and record
employment growth, the international financial crisis of 2008 and subsequent
global economic downturn led to a sharp but brief recession. Austrian GDP
contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in
2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in
Austria as elsewhere in Europe, partly because the government subsidized
reduced working hour schemes to allow companies to retain employees. The 2012
unemployment rate of 4.3% was the lowest within the EU. Stabilization measures,
stimulus spending, and an income tax reform pushed the budget deficit to 4.5%
in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international
financial crisis of 2008 caused difficulties for Austria's largest banks whose
extensive operations in central, eastern, and southeastern Europe faced large
losses. The government provided bank support - including in some instances,
nationalization - to support aggregate demand and stabilize the banking system.
Austria's fiscal position compares favorably with other euro-zone countries,
but it faces external risks, such as Austrian banks' continued exposure to
Central and Eastern Europe as well as political and economic uncertainties
caused by the European sovereign debt crisis. In 2011 the government attempted
to pass a constitutional amendment limiting public debt to 60% of GDP by 2020,
but it was unable to obtain sufficient support in parliament and instead passed
the measure as a simple law. In March 2012, the Austrian parliament approved an
austerity package consisting of a mix of expenditure cuts and new revenues that
will bring public finances into balance by 2016. In 2012, the budget deficit
rose to 3.1% of GDP.
Source
: CIA
|
Company name: |
Lenzing Fibers GmbH |
|
Status: |
active company |
|
Locations: |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
|
Phone: |
0043 (3325) 4100 - 100 |
|
Fax: |
0043 (3325) 4100 - 400 |
|
E-mail: |
|
|
E-mail: |
|
|
Internet: |
|
|
Internet: |
|
|
Activities: |
Önace 20600 100% Manufacture of man-made fibres |
|
|
|
|
Probability of Default (Basel II): |
0,04% Very low risk |
|
comparison: |
The Rating of this company is better than industry
average. |
|
Recommendation: |
In respect to solvency reasons, there is nothing to say against
an establishment of a business relationship. |
|
|
|
|
Detail Assessment: |
Payments are sometimes made using cash discounts or
according to conditions. |
|
|
Company is part of a group and therefore cannot be evaluated
separately. Group's solvency is sound. |
|
Year of incorporation: |
1994 |
|
||||
|
Activities: |
|
|
||||
|
Type of company: |
Manufacturing |
|
||||
|
Legal form: |
Limited Liability Company since 1994-12-14 |
|
||||
|
companies' house number: |
FN 129218 b Eisenstadt 1994-12-16 |
|
||||
|
Trade names: |
TENCEL |
|
||||
|
VAT number: |
ATU 37904808 |
|
||||
|
number - Austrian National Bank: |
2410419 |
|
||||
|
|
||||||
|
Export |
Country |
|
|
|
||
|
Export |
world-wide |
|
2013 |
|
||
|
total turnover (total sales) |
2012 |
EUR 145.440.706,98 |
(exact) |
|
total turnover (total sales) |
2011 |
EUR 139.279.456,45 |
(exact) |
|
total turnover (total sales) |
2010 |
EUR 89.054.626,10 |
(exact) |
|
total turnover (total sales) |
2009 |
EUR 65.228.220,22 |
(exact) |
|
total turnover (total sales) |
2008 |
EUR 67.096.358,85 |
(exact) |
|
total employees |
2013 |
211 |
(approx.) |
|
white collar workers |
2013 |
64 |
(approx.) |
|
blue collar workers |
2013 |
147 |
(approx.) |
|
total stock |
2013 |
EUR 16.000.000,00 |
(approx.) |
|
total investments |
2012 |
EUR 4.886.019,79 |
(exact) |
|
total company vehicles |
2013 |
2 |
(approx.) |
|
cars |
2013 |
2 |
(approx.) |
|
firm
(style): |
|
19
Lenzing Fibers GmbH |
|
legal
form: |
|
1
Gesellschaft mit beschränkter Haftung |
|
registered
office: |
|
1
politischer Gemeinde Heiligenkreuz im Lafnitztal |
|
business
adress: |
|
3
Industriegelände 1 |
|
capital: |
|
4
ATS 5.000.000 |
|
reference
date annual accounts: |
|
1
31. Dezember |
|
annual
accounts: |
|
33
zum 31.12.2012 eingereicht am 23.09.2013 |
|
power
of representation: |
|
1
Die Generalversammlung bestimmt, wenn mehrere Geschäfts- |
|
proxy: |
|
E
Dipl.Ing. Dr. Dieter Eichinger, geb. 11.06.1958 |
|
managing
director: |
|
J
DI Dr. Bernd Andreas Zauner, geb. 28.01.1968 |
|
shareholder: |
|
B Lenzing Aktiengesellschaft |
|
general
table: |
|
Landesgericht Eisenstadt |
|
Registration number of real
estate 958 Cadastral register 31109 Heiligenkreuz im
Lafnitztal B Number and date of entry 2474/2010 Status
of 2013-03-15 |
|
Part
A - type of real estate : |
|
GST-NR
G BA (NUTZUNG)
FLäCHE GST-ADRESSE |
|
Part
B - ownership details : |
|
3 ANTEIL: 1/1 |
|
Part
C - registered charges : |
|
2
a 2439/1997 |
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions
(as registered in the companies' house) |
|
Dipl-Ing.Dr. Bernd
Andreas Zauner |
1968-01-28 |
8382 Maria Bild Maria Bild 165 |
manager |
0 |
|
Dipl-Ing.Dr. Dieter
Eichinger |
1958-06-11 |
8280 Fürstenfeld Übersbach 208 |
individual signing clerk |
1 |
|
|
2012-12-31 |
|
|
|
|
|
Franchises, patents, licences,
trademarks and similar rights and advantages |
1.203.674,62 |
|
|
|
|
|
Sum intangible assets |
1.203.674,62 |
|
|
|
|
|
|
|||||
|
Land with buildings (basic
value) |
25.802.235,27 |
|
|
|
|
|
Other operating and business
equipment |
881.470,62 |
|
|
|
|
|
Technical plants and machines |
66.148.789,32 |
|
|
|
|
|
Advanced payments and
constructions in progress |
1.676.740,97 |
|
|
|
|
|
Sum tangible assets |
94.509.236,18 |
|
|
|
|
|
|
|||||
|
Shares on related firms |
35.252.938,61 |
|
|
|
|
|
Sum financial assets |
35.252.938,61 |
|
|
|
|
|
|
|||||
|
Sum fixed assets |
130.965.849,41 |
|
|
|
|
|
|
|||||
|
Raw-, auxiliary materials and
supplies |
11.193.663,07 |
|
|
|
|
|
Finished products |
5.472.809,19 |
|
|
|
|
|
Sum stock |
16.666.472,26 |
|
|
|
|
|
|
|||||
|
Claims from delivered goods
and performed services |
11.556.419,49 |
|
|
|
|
|
Claims against related firmes Claims
against companies with shareholding relationship |
21.224.138,42 |
|
|
|
|
|
Special account claims |
4.422.660,88 |
|
|
|
|
|
Sum claims |
37.203.218,79 |
|
|
|
|
|
|
|||||
|
Cash on hand, cheques and bank
deposits |
7.677.163,60 |
|
|
|
|
|
Sum cash and bank |
7.677.163,60 |
|
|
|
|
|
|
|||||
|
Sum current assets |
61.546.854,65 |
|
|
|
|
|
|
|||||
|
Assets |
192.512.704,06 |
|
|
|
|
|
|
|||||
|
Subscribed/declared capital |
363.364,17 |
|
|
|
|
|
Capital reserves |
63.960.691,86 |
|
|
|
|
|
Legal reserves |
72.672,84 |
|
|
|
|
|
Balance sheet profit/balance
sheet loss |
30.224.349,98 |
|
|
|
|
|
Thereof profit/loss carried
forward |
7.817.198,60 |
|
|
|
|
|
Shares of silent partner |
21.801.850,25 |
|
|
|
|
|
Sum equity capital |
116.422.929,10 |
|
|
|
|
|
|
|||||
|
Valuation reserves and other
reserves before taxes |
7.655.793,00 |
|
|
|
|
|
Sum reserves before taxes |
7.655.793,00 |
|
|
|
|
|
|
|||||
|
Investment contributions |
21.572.855,83 |
|
|
|
|
|
Sum floor capital |
21.572.855,83 |
|
|
|
|
|
|
|||||
|
Reservesfor severance pays |
2.265.360,00 |
|
|
|
|
|
Other reserves |
4.170.146,56 |
|
|
|
|
|
Sum reserves |
6.435.506,56 |
|
|
|
|
|
|
|||||
|
Liabilities against credit
institutes |
6.000.000,00 |
|
|
|
|
|
Received advanced payments for
orders |
107.488,03 |
|
|
|
|
|
Liabilities from delivered goods
and performed services from the acceptance of drafts and emission of
promissory notes |
4.872.294,60 |
|
|
|
|
|
Liabilities against related
firms |
17.338.533,94 |
|
|
|
|
|
Other liabilities |
857.303,00 |
|
|
|
|
|
Other loans |
11.250.000,00 |
|
|
|
|
|
Sum liabilities |
40.425.619,57 |
|
|
|
|
|
|
|||||
|
Liabilities |
192.512.704,06 |
|
|
|
|
|
|
|||||
|
Balance sheet sum |
192.512.704,06 |
|
|
|
|
|
|
2012-12-31 |
|
|
|
|
|
Gross sales |
145.440.706,98 |
|
|
|
|
|
Increase or decrease in
finished and unfinished goods and in service claims |
-1.239.476,81 |
|
|
|
|
|
Other manufacturing costs
capitalized |
1.685.195,10 |
|
|
|
|
|
Sum turnover or sum gross
profit |
145.886.425,27 |
|
|
|
|
|
|
|||||
|
Income from dissolution of
reserves |
1.736.584,42 |
|
|
|
|
|
Other operating profits |
952.799,08 |
|
|
|
|
|
Other operating profits
totally |
2.689.383,50 |
|
|
|
|
|
|
|||||
|
Costs for obtained
services |
-16.541.136,06 |
|
|
|
|
|
Special account material
costs |
-52.205.403,65 |
|
|
|
|
|
Costs for obtained services
totally |
-68.746.539,71 |
|
|
|
|
|
|
|||||
|
Wages |
-5.852.000,27 |
|
|
|
|
|
Salaries |
-4.205.094,57 |
|
|
|
|
|
Costs for severance pays |
-646.417,58 |
|
|
|
|
|
Costs for old age
pension |
-36.150,29 |
|
|
|
|
|
Legal fringe benefits and other
payments depending on salaries |
-2.791.598,71 |
|
|
|
|
|
Other social fringe
benefits |
-70.997,67 |
|
|
|
|
|
Personnel expenses
totally |
-13.602.259,09 |
|
|
|
|
|
|
|||||
|
Depreciation of intangible assets,
tangible assets,activated expenses for the set up and expansion of business
operation |
-8.719.227,04 |
|
|
|
|
|
Depreciation tangible assets /
intangible assets totally |
-8.719.227,04 |
|
|
|
|
|
|
|||||
|
Different operating
costs |
-26.951.343,90 |
|
|
|
|
|
Other taxes |
-28.515,52 |
|
|
|
|
|
Other operating costs
totally |
-26.979.859,42 |
|
|
|
|
|
|
|||||
|
Operating result totally |
30.527.923,51 |
|
|
|
|
|
|
|||||
|
Income from other securities and
loans of financial assets |
2.048,35 |
|
|
|
|
|
Interest income, securties
income and similar income |
8.400,23 |
|
|
|
|
|
Interest and similar
disbursements |
-650.303,48 |
|
|
|
|
|
Financial profits
totally |
-639.854,90 |
|
|
|
|
|
|
|||||
|
Results from usual business
activity totally |
29.888.068,61 |
|
|
|
|
|
|
|||||
|
Taxes on income and
profits |
-7.453.677,70 |
|
|
|
|
|
Taxes on income and profits
totally |
-7.453.677,70 |
|
|
|
|
|
Annual surplus/annual deficit
totally |
22.434.390,91 |
|
|
|
|
|
|
|||||
|
Dissolution reserves before
taxes |
9.096,89 |
|
|
|
|
|
Transfer to profit
reserves |
-36.336,42 |
|
|
|
|
|
Reserves movements
totally |
-27.239,53 |
|
|
|
|
|
Annual profit/annual loss
totally |
22.407.151,38 |
|
|
|
|
|
|
|||||
|
Profit and loss carried
forward from previous year |
7.817.198,60 |
|
|
|
|
|
Transfer of profits
totally |
7.817.198,60 |
|
|
|
|
|
B/S profit/ B/S loss from
profit and loss account |
30.224.349,98 |
|
|
|
|
|
|
2012 |
|
|
|
|
|
|
Cash flow II |
31.153.617,95 |
|
|
|
|
|
|
Debt amortisation period |
1,25 |
|
|
|
|
|
|
Bank indebtedness |
8,96 |
|
|
|
|
|
|
Equity capital share |
75,70 |
|
|
|
|
|
|
Social capital share |
1,17 |
|
|
|
|
|
|
Fixed assets coverage |
112,94 |
|
|
|
|
|
|
Net profit ratio |
20,48 |
|
|
|
|
|
|
Capital turnover |
0,75 |
|
|
|
|
|
|
Return on investment |
15,86 |
|
|
|
|
|
|
Cash flow in % of operating
performance |
21,35 |
|
|
|
|
|
|
Cash flow I |
38.607.295,65 |
|
|
|
|
|
|
Gross productivity |
10,72 |
|
|
|
|
|
|
Net productivity |
5,67 |
|
|
|
|
|
|
Operating performance |
145.886.425,27 |
|
|
|
|
|
|
Inventories in % of operating
performance |
11,42 |
|
|
|
|
|
|
Gross profit |
77.139.885,56 |
|
|
|
|
|
|
Type |
Locations |
Description |
|
|
|
E-mail |
|
operational |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
registered office |
|
|
|
|
|
operational |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
registered headquarters, owned property |
|
|
|
fibers@lenzing.com lfgoffice@lenzing.com |
|
Company name |
Postal code |
Stake in % |
|
Companies House |
|
Shares in this company are
held by: |
||||
|
Lenzing Fibers Holding GmbH |
Werkstraße 2, A-4860
Lenzing |
99.98 % 2006-01-31 |
|
FN 243282 v |
|
Lenzing Aktiengesellschaft |
Werkstraße 2, A-4860
Lenzing |
0.02 % 1996-09-24 |
|
FN 96499 k |
|
|
||||
|
This company holds 100% of the
shares in: |
||||
|
Lenzing Holding GmbH |
Werkstraße 2, A-4860
Lenzing |
100 % 2003-12-30 |
|
FN 243281 t |
|
|
||||
|
Affiliated companies and
further participations: |
||||
|
Gemeinnützige
Siedlungsgesellschaft m.b.H. für den Bezirk Vöcklabruck |
Atterseestraße 21,
A-4860 Lenzing |
|
|
FN 94451 z |
|
Pulp Trading GmbH |
Werkstraße , A-4860
Lenzing |
|
|
FN 107873 m |
|
Energie- und Medienzentrale
Heiligenkreuz GmbH |
Berggasse 7, A-1090 Wien |
|
|
FN 52748 x |
|
Asia Fiber Engineering GmbH |
Kolingasse 1/1/5, A-1090
Wien |
|
|
FN 140829 b |
|
Banker |
Bank sort code |
Type of banking connection |
|
UniCredit Bank Austria AG,
1011 Wien |
12000 |
main bank connection |
|
HYPO-BANK BURGENLAND
Aktiengesellschaft, 7001 Eisenstadt |
51000 |
secondary banking connection |
|
Year of incorporation: |
1994 |
|
Date of registration: |
1994-12-16 |
|
Change of company name: |
||
|
From |
To |
Company name |
|
|
2005-04-29 |
Lenzing Lyocell GmbH |
|
2005-04-29 |
|
Lenzing Fibers GmbH |
|
Former executives: |
|||
|
From |
To |
Function |
Name |
|
|
2000-10-14 |
manager |
Dipl-Ing.Dr. Ingo Marini |
|
1999-01-29 |
2004-03-11 |
manager |
Dr. Franz Raninger |
|
|
2004-12-28 |
manager |
Dkfm. Rudolf Hauptmann |
|
2004-12-28 |
2009-01-03 |
manager |
Dipl-Ing.Dr. Wolfram Kalt |
|
2007-12-22 |
2009-11-04 |
individual signing clerk |
Dipl-Ing. Friedrich Weninger |
|
2001-01-20 |
2004-12-28 |
joint signing clerk |
Dipl-Ing.Dr. Wolfram Kalt |
|
|
2009-11-04 |
joint signing clerk |
Dipl-Ing.Dr. Dieter Eichinger |
|
Former shareholdings: |
||
|
From |
To |
Name |
|
2003-12-30 |
2005-09-08 |
Lenzing Fibers Holding GmbH |
|
1994-12-17 |
2003-09-18 |
Lenzing Lyocell GmbH & Co KG |
|
Mergers: |
||
|
Date |
Function |
Name |
|
2003-09-29 |
merged with |
Lenzing Lyocell GmbH & Co KG |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
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.