MIRA INFORM REPORT
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Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
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Name : |
VOLKMANN GMBH |
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Registered Office : |
Schloitweg 17, Soest, 59494 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.05.1973 |
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Com. Reg. No.: |
HRB5422 |
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Legal Form : |
Private Parent |
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Line of Business : |
Manufacturer of vacuum conveyors, vacuum pumps and vacuum components, designed
specifically to suit the wide range of different duties. |
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No. of Employees : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
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Source
: CIA |
Company
name and address
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Volkmann GmbH |
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Employees: |
80 |
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Company Type: |
Private Parent |
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Corporate
Family: |
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Incorporation
Date: |
23-May-1973 |
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Fiscal Year End: |
31-Dec-2011 |
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Reporting Currency: |
Euro |
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Annual Sales: |
NA |
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Total Assets: |
13.0 |
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Business Description |
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Volkmann GmbH was founded in 1973 as a consulting firm for automation
and economical production. Since 1979, Volkmann has built up a product range in
the field of vacuum technology, inventing and acquiring patents, establishing
Volkmann as a leading manufacturer of vacuum conveyors, vacuum pumps and
vacuum components, designed specifically to suit the wide range of different
duties. Volkmann engineers, produces and sells vacuum-conveyors and transfer
systems for powder, dust, pigments, granulated material, tablets and small
pieces. It also manufactures multiple stage compressed air driven
Venturis-multijector vacuum pumps-for handling applications with superior
airflow characteristics and highest efficiency. The unique energy-saving
efficiency of Multijectors nozzle systems are a direct result of the
company's expertise in fluid-dynamics. Volkmann also produces dry-cleaning
machines for the pre-cleaning and drying of machined parts. Its dry-cleaning
process runs with vacuum and blowing-air only, with no chemicals required.
Volkmann is headquartered in Soest, Germany |
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Industry |
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Industry |
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ANZSIC 2006: |
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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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News |
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Registered No.(Other)
HRB5422
1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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Corporate Family |
Corporate Structure News: |
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Volkmann GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Soest, Nordrhein-Westfalen |
Germany |
Machinery and Equipment Manufacturing |
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80 |
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Subsidiary |
Marlow |
United Kingdom |
Miscellaneous Professional Services |
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Executives Report
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Taxes and social security costs |
0.8 |
0.7 |
- |
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Total payroll costs |
5.2 |
4.5 |
- |
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Fixed asset depreciation and amortisation |
0.4 |
0.4 |
- |
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Other operating costs |
1.4 |
1.5 |
- |
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Net operating income |
4.0 |
1.9 |
- |
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Income received from associated companies |
0.0 |
- |
- |
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Other income |
0.1 |
0.1 |
- |
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Interest payable on loans |
0.1 |
0.1 |
- |
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Total expenses |
0.0 |
0.0 |
- |
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Profit before tax |
4.1 |
1.9 |
- |
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Provisions |
2.4 |
1.7 |
1.5 |
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Other taxes |
0.0 |
0.0 |
- |
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Total taxation |
1.3 |
0.7 |
- |
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Net profit |
2.8 |
1.2 |
- |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.0 |
0.0 |
0.0 |
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Capital reserves |
0.3 |
0.3 |
0.3 |
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Profits for the year |
9.9 |
7.9 |
7.8 |
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Profit brought forward from previous year(s) |
7.2 |
6.6 |
5.9 |
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Total stockholders equity |
10.2 |
8.2 |
8.2 |
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Provisions and allowances |
2.2 |
1.8 |
1.5 |
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Trade creditors |
0.0 |
0.1 |
- |
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Advances received |
0.2 |
0.1 |
- |
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Taxation and social security |
0.3 |
0.3 |
0.4 |
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Total current liabilities |
0.5 |
0.5 |
0.4 |
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Total liabilities (including net worth) |
13.0 |
10.5 |
10.1 |
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Patents |
0.0 |
0.0 |
- |
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Other intangibles |
- |
- |
0.0 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Land and buildings |
1.1 |
0.9 |
1.0 |
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Machinery and tools |
0.7 |
0.8 |
1.0 |
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Fixtures and equipment |
1.1 |
0.9 |
1.0 |
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Fixed assets under construction |
0.6 |
0.0 |
- |
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Total tangible fixed assets |
2.9 |
2.0 |
2.3 |
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Shares held in associated companies |
0.1 |
0.1 |
0.1 |
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Total financial assets |
0.1 |
0.1 |
0.1 |
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Total non-current assets |
3.0 |
2.2 |
2.4 |
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Net stocks and work in progress |
0.8 |
0.8 |
0.8 |
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Other receivables |
0.9 |
1.3 |
1.3 |
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Total receivables |
1.4 |
2.0 |
2.1 |
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Owing from associated companies |
0.5 |
0.7 |
0.8 |
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Cash and liquid assets |
7.7 |
5.5 |
4.7 |
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Total current assets |
9.9 |
8.3 |
7.6 |
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Prepaid expenses and deferred costs |
0.1 |
0.1 |
0.1 |
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Total assets |
13.0 |
10.5 |
10.1 |
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Annual Ratios |
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Financials in: USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-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 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
181.11 |
154.76 |
190.07 |
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Acid test ratio |
166.72 |
140.22 |
170.75 |
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Total liabilities to net worth |
0.01% |
0.01% |
0.00% |
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Net worth to total assets |
0.08% |
0.08% |
0.08% |
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Current liabilities to net worth |
0.01% |
0.01% |
0.00% |
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Current liabilities to stock |
0.07% |
0.07% |
0.05% |
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Fixed assets to net worth |
0.03% |
0.03% |
0.03% |
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Return on assets |
0.02% |
0.01% |
- |
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Shareholders' return |
0.03% |
0.02% |
- |
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Profit per employee |
2.79 |
1.60 |
- |
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Average wage per employee |
5.20 |
5.85 |
- |
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Net worth |
10.2 |
8.2 |
8.2 |
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Number of employees |
72 |
58 |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.24 |
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1 |
Rs.99.89 |
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Euro |
1 |
Rs.84.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.