|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KETTEN-WULF BETRIEBS-GMBH |
|
|
|
|
Registered Office : |
Zum Hohenstein 15, D 59889 Eslohe, Post
Box: 11 64 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishment: |
1925 |
|
|
|
|
Com. Reg. No.: |
HRB 3160 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Manufacture of Wire Products, Chains
and Springs. |
|
|
|
|
No. of Employees : |
478 |
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 30, 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, has contributed to strong growth 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 5.3% in 2013. The new German government introduced a
minimum wage of $11 per hour to take effect in 2015. 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 and 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. 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 |
Ketten-Wulf
Betriebs-GmbH
Company
Status: active
Zum Hohenstein 15
D 59889 Eslohe
Post Box:
11 64
Telephone:02973/8010
Telefax: 02973/801228
Homepage: www.kettenwulf.com
E-mail: service@kettenwulf.com
DE811158615
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1925
Registered on: 05.01.1984
Commercial Register: Local court 59821 Arnsberg
under: HRB
3160
Share
capital: EUR 1,000,000.00
KettenWulf GmbH & Co.
KG
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 1,260,000.00
contribution:
Share: EUR 1,000,000.00
Registered on: 20.02.1984
Reg. data: 59821
Arnsberg, HRA 3787
Manager:
Günter Wulf
Don-Bosco-Str. 12
D 59889 Eslohe
having sole power of
representation
born: 14.01.1948
Profession: graduate
engineer
Property regime:
Separation of property
Marital status: married
Manager:
Julia Wulf
D 59889 Eslohe
having sole power of
representation
born: 12.05.1974
Profession: Fully
qualified management
expert
Manager:
Tobias Wulf
D 59889 Eslohe
having sole power of
representation
born: 08.05.1976
Profession: graduate
engineer
Manager:
Ansgar Wulf
D 59889 Eslohe
having sole power of
representation
born: 10.10.1979
Proxy:
Reiner Linn
D 57392 Schmallenberg
Proxy:
Ulrich König
D 59889 Eslohe
authorized to jointly
represent the company
born: 26.07.1971
Profession: Fully
qualified merchant
Further functions/participations of Günter
Wulf (Manager)
Limited partner:
KettenWulf GmbH & Co.
KG
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 1,260,000.00
contribution:
Share: EUR 1,260,000.00
Registered
on: 20.02.1984
Reg. data: 59821 Arnsberg, HRA 3787
Manager:
Wulf Management-GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 05.01.1984
Reg. data: 59821 Arnsberg, HRB 3161
Manager:
Ketten Wulf GmbH
(Germany)
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company dormant
Share capital: EUR 130,000.00
Registered
on: 15.04.2003
Reg. data: 59821 Arnsberg, HRB 5645
Manager:
Saltemberg GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private limited
company
Share capital: EUR 2,050,000.00
Registered
on: 26.03.2002
Reg. data: 59821 Arnsberg, HRB 3531
Further functions/participations of Julia Wulf
(Manager)
Manager:
Wulf Management-GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 05.01.1984
Reg. data: 59821 Arnsberg, HRB 3161
Manager:
Ketten Wulf GmbH
(Germany)
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company dormant
Share capital: EUR 130,000.00
Registered
on: 15.04.2003
Reg. data: 59821 Arnsberg, HRB 5645
Manager:
Saltemberg GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Share capital: EUR 2,050,000.00
Registered
on: 26.03.2002
Reg. data: 59821 Arnsberg, HRB 3531
Manager:
DC-AFAM GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Share capital: EUR 30,000.00
Registered
on: 16.01.2004
Reg. data: 59821 Arnsberg, HRB 6638
Further functions/participations of Tobias
Wulf (Manager)
Manager:
Wulf Management-GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 05.01.1984
Reg. data: 59821 Arnsberg, HRB 3161
Manager:
Saltemberg GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Share capital: EUR 2,050,000.00
Registered
on: 26.03.2002
Reg. data: 59821 Arnsberg, HRB 3531
Manager:
Ketten Wulf GmbH
(Germany)
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company dormant
Share capital: EUR 130,000.00
Registered
on: 15.04.2003
Reg. data: 59821 Arnsberg, HRB 5645
Further functions/participations of Ansgar
Wulf (Manager)
Manager:
Wulf Management-GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private limited
company
Share capital: EUR 26,000.00
Registered
on: 05.01.1984
Reg. data: 59821 Arnsberg, HRB 3161
Manager:
Ketten Wulf GmbH
(Germany)
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company dormant
Share capital: EUR 130,000.00
Registered
on: 15.04.2003
Reg. data: 59821 Arnsberg, HRB 5645
Manager:
Saltemberg GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private limited company
Share capital: EUR 2,050,000.00
Registered
on: 26.03.2002
Reg. data: 59821 Arnsberg, HRB 3531
Main industrial sector
25930
Manufacture of wire products, chains and springs
28150
Manufacture of bearings, gears, gearing and driving elements
Branch:
Ketten-Wulf Betriebs-GmbH
Sieperting 7
D 59889 Eslohe
Branch:
Ketten-Wulf Betriebs-GmbH
An der Eisenbahn 4
D 28832 Achim
Reg. entry: 24.08.2010
Shareholder:
Saltemberg GmbH
Zum Hohenstein 15
D 59889 Eslohe
Legal form: Private
limited company
Company Status: active
Share capital: EUR 2,050,000.00
Share: EUR 2,000,000.00
Reg. data: 26.03.2002
Local court
59821 Arnsberg
HRB 3531
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Zum
Hohenstein 15
D 59889 Eslohe
Land register documents were not available.
Principal bank
COMMERZBANK, 59851 MESCHEDE
Sort. code: 46441003, Account no.: 2302404
BIC: COBADEFF468, IBAN: DE28464410030230240400
Further bank
VOLKSBANK REISTE-ESLOHE, 59884 ESLOHE
(SAUERLAND)
Sort. code: 46464453, Account no.: 76049900
BIC: GENODEM1RET, IBAN: DE76464644530076049900
Turnover: 2012 EUR 81,370,487.00
2013 EUR
81,500,000.00
Profit: 2012 EUR 1,343,620.00
further business figures:
Equipment: EUR 2,068,088.00
Ac/ts receivable: EUR 16,338,169.00
Liabilities: EUR 27,763,050.00
Employees:
478
-
thereof permanent staff: 478
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 59.40
Liquidity ratio: 0.62
Return on total capital [%]: 1.87
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 63.78
Liquidity ratio: 0.63
Return on total capital [%]: 3.06
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 62.06
Liquidity ratio: 0.70
Return on total capital [%]: 1.48
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 61.14
Liquidity ratio: 0.62
Return on total capital [%]: 2.89
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 73,240,072.94
Fixed
assets EUR 40,581,879.45
Intangible assets
EUR 1,015,520.19
Concessions, licences, rights
EUR 1,015,520.19
Tangible assets
EUR 17,116,755.82
Land / similar rights
EUR 12,756,164.04
Plant / machinery
EUR 1,686,307.03
Other tangible assets / fixtures and
fittings
EUR 2,068,088.41
Advance payments made / construction
in progress
EUR 606,196.34
Financial assets
EUR 22,449,603.44
Shares in participations /
subsidiaries and the like
EUR 18,450,171.61
Shares in related companies
EUR 18,449,771.61
Shares in cooperatives
EUR 400.00
Loans to participations /
subsidiaries and the like
EUR 3,949,431.83
Loans to related companies
EUR 3,949,431.83
Other loans
EUR 50,000.00
Current assets
EUR 32,601,673.49
Stocks
EUR 16,230,900.00
Raw materials, consumables and
supplies
EUR 5,833,900.00
Finished goods / work in progress
EUR 10,397,000.00
Accounts receivable
EUR 16,338,168.88
Trade debtors
EUR 7,000,065.73
Amounts due from related companies
EUR 6,303,662.56
Other debtors and assets
EUR 3,034,440.59
Liquid means
EUR 32,604.61
Remaining
other assets EUR 56,520.00
Accruals (assets)
EUR 56,520.00
LIABILITIES EUR 73,240,072.94
Shareholders' equity
EUR 42,167,323.40
Capital
EUR 1,000,000.00
Subscribed capital (share capital)
EUR 1,000,000.00
Reserves
EUR 24,560,000.00
Capital reserves
EUR 4,560,000.00
Retained earnings / revenue reserves EUR 20,000,000.00
Balance sheet profit/loss (+/-)
EUR 16,607,323.40
Balance sheet profit / loss
EUR 16,607,323.40
Provisions EUR 3,249,300.00
Pension provisions and comparable
provisions
EUR 1,925,200.00
Other / unspecified provisions
EUR 1,324,100.00
Liabilities
EUR 27,763,049.54
Financial debts
EUR 11,529,727.17
Liabilities due to banks
EUR 11,529,727.17
Other liabilities
EUR 16,233,322.37
Trade creditors (for IAS incl. bills
of exchange)
EUR 5,300,343.19
Liabilities from received advance
payments
EUR 483,096.47
Liabilities due to shareholders
EUR 1,335,391.89
Liabililties due to related companiesEUR 4,560,532.90
Unspecified other liabilities
EUR 4,553,957.92
thereof liabilities from tax /
financial authorities
EUR 396,677.55
thereof liabilities from social
security
EUR 120,378.34
Other liabilities
EUR 60,400.00
Deferrals (liabilities)
EUR 60,400.00
Guarantees and other commitments
EUR 9,937,600.00
Guarantees / warranties
EUR 9,937,600.00
Guarantees
EUR 9,731,500.00
Warranties
EUR 206,100.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 81,370,486.56
Inventory change + own costs (+/-)
EUR -1,331,884.29
Inventory change (+/-)
EUR -1,392,000.00
Capitalised own costs
EUR 60,115.71
Other operating income
EUR 3,884,538.26
Cost of materials
EUR 44,685,441.55
Raw materials and supplies, purchased
goods EUR 42,882,557.23
Purchased services
EUR 1,802,884.32
Gross result (+/-)
EUR 39,237,698.98
Staff expenses
EUR 25,367,961.36
Wages and salaries
EUR 21,173,531.49
Social security contributions and
expenses for pension plans and
benefits
EUR 4,194,429.87
Total depreciation
EUR 2,222,650.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 2,222,650.00
Other operating expenses
EUR 9,937,956.02
Operating result from continuing
operations EUR 1,709,131.60
Result from participating interests
(+/-)
EUR 771,374.51
Expenses / income from participations EUR 771,374.51
Interest result (+/-)
EUR -445,079.32
Interest and similar income
EUR 207,067.00
Interest and similar expenses
EUR 652,146.32
Other financial result
EUR 102,747.77
Income from securities and loans from
financial assets
EUR 102,747.77
Financial result (+/-)
EUR 429,042.96
Result from ordinary operations (+/-)
EUR 2,138,174.56
Extraordinary expenses
EUR 28,165.54
Extraordinary result (+/-)
EUR -28,165.54
Income tax / refund of income tax (+/-)EUR -645,177.45
Other taxes / refund of taxes
EUR -121,211.45
Tax
(+/-)
EUR -766,388.90
Annual surplus / annual deficit
EUR 1,343,620.12
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 66,343,739.00
Fixed assets
EUR 37,627,225.19
Intangible assets
EUR 1,395,919.85
Concessions, licences, rights
EUR 1,395,919.85
Tangible
assets EUR 16,783,091.54
Land / similar rights
EUR 13,527,724.47
Plant / machinery
EUR 1,574,815.75
Other tangible assets / fixtures and
fittings EUR 1,665,351.32
Advance payments made / construction
in progress
EUR 15,200.00
Financial assets
EUR 19,448,213.80
Shares in participations /
subsidiaries and the like
EUR 17,948,781.97
Shares in related companies
EUR 17,948,381.97
Shares in cooperatives
EUR 400.00
Loans to participations /
subsidiaries and the like
EUR 1,449,431.83
Loans to related companies
EUR 1,449,431.83
Other loans
EUR 50,000.00
Current assets
EUR 28,653,306.55
Stocks EUR 15,476,800.00
Raw materials, consumables and
supplies
EUR 6,211,100.00
Finished goods / work in progress
EUR 9,265,700.00
Accounts receivable EUR 11,351,312.59
Trade debtors
EUR 6,312,475.92
Amounts due from related companies
EUR 3,359,797.21
Other debtors and assets
EUR 1,679,039.46
Liquid means EUR 1,825,193.96
Remaining other assets
EUR 63,207.26
Accruals (assets)
EUR 63,207.26
LIABILITIES EUR 66,343,739.00
Shareholders'
equity EUR 40,823,703.28
Capital
EUR 1,000,000.00
Subscribed capital (share capital)
EUR 1,000,000.00
Reserves
EUR 24,560,000.00
Capital reserves
EUR 4,560,000.00
Retained earnings / revenue reserves EUR 20,000,000.00
Balance sheet profit/loss (+/-)
EUR 15,263,703.28
Balance sheet profit / loss
EUR 15,263,703.28
Provisions
EUR 4,068,000.00
Pension provisions and comparable
provisions
EUR 1,727,500.00
Provisions for taxes
EUR 564,100.00
Other / unspecified provisions
EUR 1,776,400.00
Liabilities
EUR 21,351,277.82
Financial debts
EUR 6,482,558.59
Liabilities due to banks
EUR 6,482,558.59
Other liabilities
EUR 14,868,719.23
Trade creditors (for IAS incl. bills
of exchange)
EUR 2,664,832.38
Liabilities from received advance
payments EUR 763,463.87
Liabilities due to shareholders
EUR 1,491,424.58
Liabililties due to related companiesEUR 5,566,422.83
Unspecified other liabilities
EUR 4,382,575.57
Other liabilities
EUR 100,757.90
Deferrals (liabilities)
EUR 100,757.90
Guarantees and other commitments
EUR 15,707,200.00
Guarantees / warranties
EUR 15,707,200.00
Guarantees EUR 15,485,300.00
Warranties
EUR 221,900.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 83,008,091.68
Inventory change + own costs (+/-)
EUR -327,635.68
Inventory change (+/-)
EUR -425,000.00
Capitalised own costs
EUR 97,364.32
Other operating income EUR 2,729,476.34
Cost of materials
EUR 45,891,168.12
Raw materials and supplies, purchased
goods
EUR 44,279,467.83
Purchased services
EUR 1,611,700.29
Gross result (+/-)
EUR 39,518,764.22
Staff expenses
EUR 25,367,688.00
Wages and salaries
EUR 21,099,155.70
Social security contributions and
expenses for pension plans and
benefits
EUR 4,268,532.30
Total depreciation
EUR 2,105,114.33
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 2,105,114.33
Other operating expenses
EUR 8,721,146.36
Operating result from continuing
operations
EUR 3,324,815.53
Result from participating interests
(+/-)
EUR 199,430.19
Expenses / income from participations EUR 199,430.19
Interest result (+/-)
EUR -508,683.12
Interest and similar income
EUR 183,038.77
Interest and similar expenses
EUR 691,721.89
Other financial result
EUR 77,956.67
Income from securities and loans from
financial assets
EUR 77,956.67
Financial result (+/-)
EUR -231,296.26
Result from ordinary operations (+/-)
EUR 3,093,519.27
Extraordinary expenses
EUR 28,165.54
Extraordinary result (+/-)
EUR -28,165.54
Income tax / refund of income tax (+/-)EUR -939,580.54
Other taxes / refund of taxes
EUR -125,753.08
Tax
(+/-)
EUR -1,065,333.62
Annual surplus / annual deficit EUR 2,000,020.11
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.