MIRA
INFORM REPORT
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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MEHLER TEXNOLOGIES GMBH |
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Registered Office : |
Edelzeller Strasse 44 Fulda, 36043 |
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Country : |
Germany |
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Financials (as on) : |
30.11.2011 |
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Date of Incorporation : |
25.06.1998 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is engaged in bleaching, dyeing and printing
(including thermo-printing) of not self-produced textiles fibres, yarns,
fabrics and textile articles. |
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No. of Employees : |
350 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 and address
Mehler Texnologies GmbH
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Business Description
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Mehler Texnologies GmbH is primarily engaged in bleaching, dyeing and printing (including thermo-printing) of not self-produced textiles fibres, yarns, fabrics and textile articles, including wearing apparel; and dressing, drying, steaming, shrinking, sanforising, mercerising of not self-produced textiles and textile articles including wearing apparel. This class also includes: finishing of leather wearing apparel; bleaching of jeans; and pleating and similar work on textiles. |
Industry
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Industry |
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ANZSIC 2006: |
1334 - Textile Finishing and Other Textile Product Manufacturing |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Key Executives
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News
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Registered No.(Other): HRB1605
Parent Registered No.(UK):
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR
0.718992
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7428592
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Corporate Overview
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Corporate Structure News
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
London |
United Kingdom |
Rubber and Plastic Product Manufacturing |
601.2 |
1,886 |
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Subsidiary |
Dundee |
United Kingdom |
Miscellaneous Professional Services |
|
1,000 |
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Subsidiary |
Huckelhoven |
Germany |
Textile Manufacturing |
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600 |
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Subsidiary |
Zele |
Belgium |
Textile Manufacturing |
101.3 |
365 |
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Subsidiary |
Tiszaujvaros |
Hungary |
Textile Manufacturing |
|
130 |
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Subsidiary |
Arnhem |
Netherlands |
Textile Manufacturing |
117.9 |
200 |
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Subsidiary |
Erlenbach A. Main, Bayern |
Germany |
Miscellaneous Chemical Manufacturing |
9.4 |
56 |
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Subsidiary |
St Denis |
France |
Chemical Wholesale |
9.4 |
7 |
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Subsidiary |
Arnhem |
Netherlands |
Holding Companies |
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200 |
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Subsidiary |
Obernburg A. Main, Bayern |
Germany |
Clothing and Apparel Wholesale |
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12 |
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Subsidiary |
Fulda, Hessen |
Germany |
Textile Manufacturing |
169.0 |
350 |
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Subsidiary |
Francheville |
France |
Clothing and Apparel Wholesale |
9.9 |
4 |
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Subsidiary |
Fulda |
Germany |
Textile Manufacturing |
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200 |
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Subsidiary |
Arnhem |
Netherlands |
Holding Companies |
|
200 |
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Subsidiary |
Lomnice nad Popelkou |
Czech Republic |
Textile Manufacturing |
|
180 |
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Subsidiary |
Dundee |
United Kingdom |
Textile Manufacturing |
24.3 |
128 |
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Subsidiary |
Oostende |
Belgium |
Miscellaneous Chemical Manufacturing |
15.1 |
4 |
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Subsidiary |
Dundee |
United Kingdom |
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Subsidiary |
Stefanestii de Jos |
Romania |
Textile Manufacturing |
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7 |
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Subsidiary |
Martinsville, VA |
United States |
Textile Manufacturing |
16.8 |
6 |
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Subsidiary |
Paris |
France |
Textile Manufacturing |
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6 |
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Subsidiary |
Francheville |
France |
Textile Manufacturing |
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4 |
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Subsidiary |
Nuneaton |
United Kingdom |
Clothing and Apparel Wholesale |
4.6 |
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Subsidiary |
Sheffield |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
South Yorkshire |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Holding Companies |
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Subsidiary |
Birmingham |
United Kingdom |
Miscellaneous Wholesale |
10.9 |
16 |
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Subsidiary |
Birmingham |
United Kingdom |
Miscellaneous Manufacturing |
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Subsidiary |
Dundee |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Dundee |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Dundee |
United Kingdom |
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Subsidiary |
Dundee |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Holding Companies |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Dundee |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Dundee |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Dundee |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Birmingham |
United Kingdom |
Miscellaneous Professional Services |
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Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Establishments |
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Subsidiary |
Schalkhaar, Overijssel |
Netherlands |
Banking |
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Subsidiary |
Arnhem, Gelderland |
Netherlands |
Banking |
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Subsidiary |
Settimo Milanese |
Italy |
Textile Manufacturing |
20.1 |
11 |
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Subsidiary |
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United Kingdom |
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Subsidiary |
Riga |
Latvia |
Textile Manufacturing |
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Subsidiary |
Krommenie |
Netherlands |
Pensions and Funds |
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Subsidiary |
Arnhem |
Netherlands |
Textile Manufacturing |
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Subsidiary |
Obernburg am Main |
Germany |
Miscellaneous Chemical Manufacturing |
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Subsidiary |
Hessen |
Germany |
Textile Manufacturing |
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Executives
Report
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Annual Profit and loss |
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Financials in: USD (mil) |
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30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate (Period Average) |
0.718993 |
0.749067 |
0.723831 |
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Consolidated |
No |
No |
No |
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Total income |
169.0 |
140.4 |
122.5 |
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Raw materials and services |
106.3 |
83.0 |
56.8 |
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Net sales |
169.0 |
140.4 |
122.5 |
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Change in stock |
4.8 |
3.4 |
-11.2 |
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Other operating income |
3.0 |
2.4 |
3.1 |
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Raw materials and consumables employed |
106.3 |
83.0 |
56.8 |
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Other external charges |
7.9 |
6.0 |
4.1 |
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Cost of goods sold |
114.2 |
88.9 |
60.9 |
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Cost of raw materials |
114.2 |
88.9 |
60.9 |
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Taxes and social security costs |
4.3 |
3.5 |
3.9 |
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Total payroll costs |
23.2 |
19.6 |
19.1 |
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Fixed asset depreciation and amortisation |
4.7 |
4.7 |
4.8 |
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Other operating costs |
29.5 |
25.9 |
28.4 |
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Net operating income |
5.2 |
7.1 |
1.3 |
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Other income |
0.6 |
0.3 |
0.7 |
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Interest payable on loans |
3.0 |
2.3 |
3.3 |
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Total expenses |
2.5 |
2.1 |
2.6 |
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Profit before tax |
2.7 |
5.0 |
-1.3 |
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Provisions |
11.0 |
9.7 |
11.3 |
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Extraordinary expenses |
0.7 |
- |
- |
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Extraordinary result |
-0.7 |
- |
- |
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Other taxes |
1.5 |
1.0 |
0.8 |
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Profit distributed to shareholders |
-0.6 |
-4.0 |
2.1 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.742859 |
0.768197 |
0.666067 |
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Consolidated |
No |
No |
No |
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Issued capital |
6.7 |
6.5 |
7.5 |
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Capital reserves |
3.4 |
3.3 |
3.8 |
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Total stockholders equity |
10.2 |
9.8 |
11.3 |
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Other provisions |
7.0 |
6.5 |
8.9 |
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Provision for pensions |
3.6 |
2.9 |
3.4 |
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Provisions and allowances |
10.6 |
9.4 |
12.3 |
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Trade creditors |
15.8 |
13.8 |
6.3 |
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Taxation and social security |
0.6 |
0.4 |
0.7 |
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Other current liabilities |
63.1 |
59.9 |
64.5 |
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Due to group companies |
1.4 |
4.6 |
3.3 |
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Total current liabilities |
80.8 |
78.7 |
74.8 |
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Total liabilities (including net worth) |
101.6 |
98.0 |
98.5 |
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Patents |
0.2 |
0.2 |
0.3 |
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Intangibles |
0.2 |
0.2 |
0.3 |
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Land and buildings |
7.1 |
7.3 |
8.2 |
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Machinery and tools |
5.6 |
6.5 |
8.9 |
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Fixtures and equipment |
7.1 |
7.3 |
8.2 |
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Fixed assets under construction |
1.8 |
1.2 |
1.5 |
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Total tangible fixed assets |
21.1 |
21.6 |
27.1 |
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Participating interest |
0.2 |
0.2 |
0.2 |
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Total financial assets |
0.2 |
0.2 |
0.2 |
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Total non-current assets |
21.5 |
22.0 |
27.5 |
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Raw materials |
5.8 |
5.4 |
4.6 |
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Work in progress |
7.5 |
6.3 |
4.9 |
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Finished goods |
22.2 |
17.5 |
19.8 |
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Prepayments |
0.2 |
0.2 |
0.2 |
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Net stocks and work in progress |
35.7 |
29.5 |
29.5 |
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Trade debtors |
14.2 |
12.6 |
12.4 |
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Other receivables |
2.6 |
2.4 |
0.6 |
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Total receivables |
41.7 |
41.5 |
36.8 |
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Owing from associated companies |
24.9 |
26.5 |
23.8 |
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Cash and liquid assets |
1.9 |
4.3 |
3.8 |
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Short-term investments |
0.6 |
0.6 |
0.6 |
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Total current assets |
79.9 |
75.8 |
70.7 |
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Prepaid expenses and deferred costs |
0.2 |
0.1 |
0.2 |
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Total assets |
101.6 |
98.0 |
98.5 |
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Annual Ratios |
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Financials in: USD (mil) |
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|
30-Nov-2011 |
30-Nov-2010 |
30-Nov-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.742859 |
0.768197 |
0.666067 |
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Consolidated |
No |
No |
No |
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Current ratio |
9.89 |
9.63 |
9.45 |
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Acid test ratio |
5.47 |
5.89 |
5.51 |
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Total liabilities to net worth |
0.79% |
0.80% |
0.66% |
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Net worth to total assets |
0.01% |
0.01% |
0.01% |
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Current liabilities to net worth |
0.79% |
0.80% |
0.66% |
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Current liabilities to stock |
0.23% |
0.27% |
0.25% |
|
Fixed assets to net worth |
0.21% |
0.22% |
0.24% |
|
Collection period |
318.00 |
336.00 |
339.00 |
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Stock turnover rate |
2.18 |
2.15 |
2.21 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.00% |
0.01% |
0.00% |
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Shareholders' return |
0.01% |
0.04% |
-0.02% |
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Sales per employee |
35.74 |
31.48 |
28.69 |
|
Profit per employee |
0.26 |
0.90 |
-0.49 |
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Average wage per employee |
4.90 |
4.41 |
4.47 |
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Net worth |
10.2 |
9.8 |
11.3 |
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Number of employees |
340 |
334 |
309 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
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 |
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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 |
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-- |
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.