MIRA INFORM REPORT

 

 

Report Date :

19.10.2013

 

IDENTIFICATION DETAILS

 

Name :

MÜLLER GMBH

 

 

Registered Office :

Industrieweg 5, D 79618 Rheinfelden

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.01.1904

 

 

Com. Reg. No.:

HRB 410437

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Manufacturer of other tanks, reservoirs and containers of metal

Manufacturer of metal products

 

 

No. of Employees :

97

 

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

 

 

Company name & address

 

Müller GmbH

 

Industrieweg 5

D 79618 Rheinfelden

Telephone:        07623/9690

Telefax:             07623/96969

Homepage:        www.mueller-gmbh.com

E-mail:              info@mueller-gmbh.com

 

 

VAT no.           

 

DE142404054

 

 

Company Status

 

active

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         01.01.1904

Shareholders'

agreement:                    01.01.1904

Registered on:               22.04.1929

Commercial Register:     Local court 79098 Freiburg

under:                                       HRB 410437

Share capital:                 EUR            650,000.00

 

Shareholder

 

Müller AG

Tramstr. 20

CH CH-4142 Münchenstein

Legal form: Other legal form

Share:             EUR            520,000.00

 

Shareholder:

                      Fördertechnik AG

                      Känelmattstr. 7

                      CH CH-4142 Münchenstein

                      Legal form: Other legal form

                      Share:             EUR            130,000.00

 

Manager

 

Peter Müller

CH  Reinach

having sole power of representation

born: 06.03.1956

Nationality: Swiss

 

Manager:

                      Walter Müller

                      CH - Wernetshausen

                      having sole power of representation

                      born: 18.09.1952

                      Nationality: Swiss

 

Proxy

 

Thomas Furtwängler

D 79639 Grenzach-Wyhlen

 

Proxy:

                      Erhard Fredrich

                      D 79415 Bad Bellingen

                      authorized to jointly represent the company

                      born: 27.10.1961

 

Further functions/participations of Peter Müller (Manager)

 

 Manager:

                      Müller Holding GmbH

                      Industrieweg 5-7

                      D 79618 Rheinfelden

                      Legal form: Private limited company

                                  dissolved

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         10.12.2001

                      Reg. data:  79098 Freiburg, HRB 413289

Manager:

                      Müller Handels GmbH

                      Industrieweg 5

                      D 79618 Rheinfelden

                      Post Box:

                      1409

                      Legal form: Private limited company

                                  dissolved

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         12.12.2001

                      Reg. data:  79098 Freiburg, HRB 413291

 

 

Further functions/participations of Walter Müller (Manager)

 

 Manager:

                      Müller Holding GmbH

                      Industrieweg 5-7

                      D 79618 Rheinfelden

                      Legal form: Private limited company

                                  dissolved

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         10.12.2001

                      Reg. data:  79098 Freiburg, HRB 413289

 

 Manager:

                      Müller Handels GmbH

                      Industrieweg 5

                      D 79618 Rheinfelden

                      Post Box:

                      1409

                      Legal form: Private limited company

                                  dissolved

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         12.12.2001

                      Reg. data:  79098 Freiburg, HRB 413291

 

 

BUSINESS ACTIVITIES

 

Sectors

·         25290   Manufacture of other tanks, reservoirs and containers of metal

25993   Manufacture of metal products n.e.c.

4649    Wholesale of other household goods

46743   Wholesale of metal and plastic goods for construction purposes

 

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

 

Negative information:      We have no negative information at hand.

 

Balance sheet year:       2011

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Industrieweg 5

                                    D 79618 Rheinfelden

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

COMMERZBANK, LÖRRACH

Sort. code: 68340058, Account no.: 3023009, BIC: COBADEFF683

 

 

FINANCIAL FIGURES

 

 Turnover:            2011               EUR          8,830,000.00

                      2012               EUR          8,800,000.00

 Expected turnover:                      EUR          8,900,000.00

 Profit:              2011               EUR            479,317.00

 further business figures:

 Equipment:                             *EUR            679,000.00

 Ac/ts receivable:                       EUR          2,962,147.00

 Liabilities:                            EUR          7,911,730.00

 Employees:                                                     97

 - thereof permanent staff:                                     97

 

 The business figures marked with an asterisk are estimates based on average values in the line of business.

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 10.31

 Liquidity ratio:                   0.52

 Return on total capital [%]:       4.52

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                  6.96

 Liquidity ratio:                   0.45

 Return on total capital [%]:      -0.67

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                  8.70

 Liquidity ratio:                   0.48

 Return on total capital [%]:      -2.45

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 65.68

 Liquidity ratio:                  10.00

 Return on total capital [%]:      12.18

 

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         11,333,580.26

  Fixed assets                           EUR          3,919,381.28

   Intangible assets                     EUR             24,571.00

    Other / unspecified intangible assetsEUR             24,571.00

   Tangible assets                       EUR          3,894,810.28

    Other / unspecified tangible assets  EUR          3,894,810.28

  Current assets                         EUR          7,311,951.09

   Stocks                                EUR          2,577,269.27

   Accounts receivable                   EUR          2,962,147.48

    Other debtors and assets             EUR          2,962,147.48

   Liquid means                          EUR          1,772,534.34

  Remaining other assets                 EUR            102,247.89

   Accruals (assets)                     EUR             42,307.89

   Deferred taxes (assets)               EUR             59,940.00

 

 LIABILITIES                             EUR         11,333,580.26

  Shareholders' equity                   EUR            749,844.57

   Capital                               EUR            650,000.00

    Subscribed capital (share capital)   EUR            650,000.00

   Reserves                              EUR              7,274.55

    Capital reserves                     EUR              3,886.99

    Retained earnings / revenue reserves EUR              3,387.56

   Balance sheet profit/loss (+/-)       EUR             92,570.02

    Profit / loss brought forward        EUR           -386,747.22

    Annual surplus / annual deficit      EUR            479,317.24

  Provisions                             EUR          2,672,005.34

  Liabilities                            EUR          7,911,730.35

   Other liabilities                     EUR          7,911,730.35

    Unspecified other liabilities        EUR          7,911,730.35

     thereof liabilities from tax /

     financial authorities               EUR            246,371.85

     thereof liabilities from social

     security                            EUR                  0.00

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         10,895,996.87

  Staff expenses                         EUR          6,286,438.87

   Wages and salaries                    EUR          5,261,051.05

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,025,387.82

  Total depreciation                     EUR            404,691.47

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            404,691.47

  Other operating expenses               EUR          3,112,246.23

  Operating result from continuing

  operations                             EUR          1,092,620.30

  Interest result (+/-)                  EUR           -382,926.77

   Interest and similar income           EUR              1,455.23

   Interest and similar expenses         EUR            384,382.00

  Financial result (+/-)                 EUR           -382,926.77

  Result from ordinary operations (+/-)  EUR            709,693.53

  Extraordinary expenses                 EUR             29,977.00

  Extraordinary result (+/-)             EUR            -29,977.00

  Income tax / refund of income tax (+/-)EUR           -187,437.45

  Other taxes / refund of taxes          EUR            -12,961.84

  Tax (+/-)                              EUR           -200,399.29

  Annual surplus / annual deficit        EUR            479,317.24

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         10,366,802.68

  Fixed assets                           EUR          3,883,428.28

   Intangible assets                     EUR              4,748.00

    Other / unspecified intangible assetsEUR              4,748.00

   Tangible assets                       EUR          3,878,680.28

    Other / unspecified tangible assets  EUR          3,878,680.28

  Current assets                         EUR          6,235,920.60

   Stocks                                EUR          2,502,602.90

   Accounts receivable                   EUR          2,940,583.38

    Other debtors and assets             EUR          2,940,583.38

   Liquid means                          EUR            792,734.32

  Remaining other assets                 EUR            247,453.80

   Accruals (assets)                     EUR             46,908.80

   Deferred taxes (assets)               EUR            200,545.00

 

 LIABILITIES                             EUR         10,366,802.68

  Shareholders' equity                   EUR            270,527.33

   Capital                               EUR            650,000.00

    Subscribed capital (share capital)   EUR            650,000.00

   Reserves                              EUR              7,274.55

    Capital reserves                     EUR              3,886.99

    Retained earnings / revenue reserves EUR              3,387.56

   Balance sheet profit/loss (+/-)       EUR           -386,747.22

    Profit / loss brought forward        EUR           -301,930.18

    Annual surplus / annual deficit      EUR            -84,817.04

  Provisions                             EUR          2,320,249.81

  Liabilities                            EUR          7,776,025.54

   Other liabilities                     EUR          7,776,025.54

    Unspecified other liabilities        EUR          7,776,025.54

     thereof liabilities from tax /

     financial authorities               EUR            120,884.94

     thereof liabilities from social

     security                            EUR                517.44

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          8,831,873.03

  Staff expenses                         EUR          5,617,143.66

   Wages and salaries                    EUR          4,619,546.51

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            997,597.15

  Total depreciation                     EUR            435,626.98

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            435,626.98

  Other operating expenses               EUR          2,562,278.76

  Operating result from continuing

  operations                             EUR            216,823.63

  Interest result (+/-)                  EUR           -477,374.02

   Interest and similar income           EUR              1,689.27

   Interest and similar expenses         EUR            479,063.29

  Financial result (+/-)                 EUR           -477,374.02

  Result from ordinary operations (+/-)  EUR           -260,550.39

  Extraordinary expenses                 EUR             14,988.00

  Extraordinary result (+/-)             EUR            -14,988.00

  Income tax / refund of income tax (+/-)EUR            202,711.05

  Other taxes / refund of taxes          EUR            -11,989.70

  Tax (+/-)                              EUR            190,721.35

  Annual surplus / annual deficit        EUR            -84,817.04

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.28

UK Pound

1

Rs.99.03

Euro

1

Rs.83.80

 

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.