|
Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EUROCYLINDER SYSTEMS AG |
|
|
|
|
Registered Office : |
Auenstr. 21, D 99510 Apolda |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.09.1990 |
|
|
|
|
Com. Reg. No.: |
HRB 501803 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
·
Manufacture of
other special-purpose machinery ·
Wholesale of
other equipment and accessories for
machinery and technical supplies ·
Manufacture
of other tanks, reservoirs and containers of
metal |
|
|
|
|
No. of Employees : |
90 |
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 |
EUROCYLINDER SYSTEMS AG
Company Status: active
Auenstr. 21
D 99510 Apolda
Telephone:03644/6210
Telefax:
03644/621203
Homepage:
www.eurocylinders.com
E-mail:
postmaster@eurocylinders.com
VAT no.: DE165659177
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 18.09.1990
Registered on: 24.08.2007
Commercial Register: Local court 07745 Jena
under: HRB
501803
Share
capital: EUR 614,000.00
Member of
the Board of Directors:
Gregor Hänsch
Schillbachstr. 15
D 07743 Jena
having sole power of
representation
born: 13.07.1951
Profession: graduate
engineer
President of
the Supervisory Board:
Helmut Korte
8466 Clifftop Way
USA - Malibu
born: 17.06.1937
Profession: Engineer
Nationality: USA
Vice-president of the Supervisory Board:
Joachim Kedenburg
733 Ridgeside Drive
USA Monrovia, CA 91016
Nationality: USA
Member of
the Supervisory Board:
Philipp Haarmann
D 40472 Ratingen
born: 07.11.1971
Profession: Solicitor
Proxy:
Dr.oec. Helmut Erbstößer
Breite Str. 14
D 99189 Walschleben
authorized to jointly
represent the company
born: 18.03.1952
Proxy:
Erhard Kühler
D 99195 Großrudestedt
authorized to jointly
represent the company
born: 08.04.1956
Further functions/participations
of Gregor Hänsch (Member of the
Board of
Directors)
Proprietor:
Unternehmensberatung
Gregor Hänsch e. K.
Schillbachstr. 15
D 07743 Jena
Legal form: Sole
proprietorship dissolved
Registered
on: 18.09.2008
Reg. data: 07745 Jena, HRA 501143
Shareholder:
creativ concept gmbh
Louis-Opel-Str. 8
D 99510 Apolda
Legal form: Private
limited company
Share capital: EUR 25,100.00
Share: EUR 12,550.00
Registered
on: 09.09.2004
Reg. data: 07745 Jena, HRB 113378
Manager:
NGV SYSTEMS GmbH für
Verbundbehälter und
Kraftfahrzeugumrüstungen
auf Erdgasbetrieb
Auenstr. 9
D 99510 Apolda
Legal form: Private
limited company
Share capital: EUR 51,129.19
Registered
on: 07.10.1993
Reg. data: 07745 Jena, HRB 106676
Manager:
creativ concept gmbh
Louis-Opel-Str. 8
D 99510 Apolda
Legal form: Private
limited company
Share capital: EUR 25,100.00
Registered
on: 09.09.2004
Reg. data: 07745 Jena, HRB 113378
Main
industrial sector
2529
Manufacture of other tanks, reservoirs and containers of metal
28990
Manufacture of other special-purpose machinery n.e.c.
46693
Wholesale of other equipment and accessories for machinery and technical supplies
Shareholder:
NGV SYSTEMS GmbH für
Verbundbehälter und
Kraftfahrzeugumrüstungen
auf Erdgasbetrieb
Auenstr. 9
D 99510 Apolda
Legal form: Private
limited company
Company Status: active
Share capital: EUR 51,129.19
Share: EUR 51,129.19
Reg. data: 07.10.1993
Local court 07745 Jena
HRB 106676
Payment experience: cash
discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: proprietor
Share: 100.00 %
Address Auenstr. 21
D 99510 Apolda
Land register documents were not available.
COMMERZBANK
VORMALS DRESDNER BANK, 99084 ERFURT
Sort. code: 82080000
BIC: DRESDEFF827
UNICREDIT BANK - HYPOVEREINSBANK, 99084 ERFURT
Sort. code: 82020086
BIC: HYVEDEMM498
Turnover: 2012 EUR 22,600,000.00
Profit: 2012 EUR 733,913.00
Equipment: EUR 118,694.00
Ac/ts receivable: EUR
5,080,796.00
Liabilities: EUR 3,543,973.00
Employees:
90
- thereof permanent staff: 87
- Trainees:
3
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 83.19
Liquidity ratio: 2.19
Return on total capital [%]: 3.27
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity
ratio [%]: 87.61
Liquidity ratio: 2.80
Return on total capital [%]: 5.48
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 82.59
Liquidity ratio: 2.50
Return on total capital [%]: 5.47
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 90.32
Liquidity ratio: 10.00
Return on total capital [%]: 5.77
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 22,430,090.99
Fixed assets
EUR 11,892,835.93
Intangible assets
EUR 30,126.09
Tangible assets
EUR 9,996,017.62
Land / similar rights
EUR 1,526,954.33
Plant / machinery
EUR 5,697,941.26
Other tangible assets / fixtures and
fittings
EUR 118,694.44
Advance payments made / construction
in progress
EUR 2,652,427.59
Financial assets
EUR 1,866,692.22
Shares in participations /
subsidiaries and the like
EUR 0.51
Shares in related companies
EUR 0.51
Other / unspecified financial assets EUR 1,866,691.71
Current assets
EUR 10,491,523.80
Stocks EUR 4,184,216.92
Accounts receivable
EUR 5,080,795.58
Amounts due from related companies
EUR 13,311.62
Other debtors and assets
EUR 5,067,483.96
Liquid means EUR 1,226,511.30
Remaining other assets
EUR 45,731.26
Accruals (assets)
EUR 45,731.26
LIABILITIES EUR 22,430,090.99
Shareholders'
equity EUR 18,663,024.69
Capital
EUR 614,000.00
Subscribed capital (share capital)
EUR 614,000.00
Reserves
EUR 163,658.38
Capital reserves
EUR 102,258.38
Retained earnings / revenue reserves EUR 61,400.00
Balance sheet profit/loss (+/-)
EUR 17,885,366.31
Balance sheet profit / loss
EUR 17,885,366.31
Provisions
EUR 223,093.30
Liabilities
EUR 3,543,973.00
Financial debts
EUR 1,635,304.00
Liabilities due to banks EUR 1,635,304.00
Other liabilities
EUR 1,908,669.00
Unspecified other liabilities
EUR 1,908,669.00
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-)
EUR 7,506,204.99
Staff expenses
EUR 3,931,548.47
Wages and salaries
EUR 3,273,326.49
Social security contributions and
expenses for pension plans and
benefits
EUR 658,221.98
Total depreciation
EUR 1,405,782.96
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,405,782.96
Other operating expenses
EUR 1,162,836.82
Operating result from continuing
operations
EUR 1,006,036.74
Interest result (+/-)
EUR 11,129.27
Interest and similar income
EUR 53,948.78
Interest and similar expenses
EUR 42,819.51
Financial result (+/-)
EUR 11,129.27
Result from ordinary operations (+/-)
EUR 1,017,166.01
Income tax / refund of income tax (+/-)EUR -276,453.43
Other taxes / refund of taxes
EUR -6,799.70
Tax (+/-)
EUR -283,253.13
Annual surplus / annual deficit
EUR 733,912.88
Type of balance sheet: Company balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 21,377,434.51
Fixed assets
EUR 11,912,646.99
Intangible assets
EUR 34,330.40
Other / unspecified intangible assetsEUR 34,330.40
Tangible assets
EUR 9,850,803.80
Land / similar rights EUR 1,712,736.53
Plant / machinery
EUR 6,223,354.30
Other tangible assets / fixtures and
fittings
EUR 98,153.30
Advance payments made / construction
in progress EUR 1,816,559.67
Financial assets
EUR 2,027,512.79
Shares in participations /
subsidiaries and the like
EUR 1.51
Shares in related companies
EUR 1.51
Loans to participations /
subsidiaries and the like
EUR 1,276,543.57
Loans to related companies
EUR 1,276,543.57
Other / unspecified financial assets EUR 750,967.71
Current assets
EUR 9,419,784.63
Stocks
EUR 4,484,916.50
Accounts receivable
EUR 4,102,191.79
Amounts due from related companies EUR 12,152.24
Other debtors and assets
EUR 4,090,039.55
Liquid means
EUR 832,676.34
Remaining other assets
EUR 45,002.89
Accruals (assets) EUR 45,002.89
LIABILITIES EUR 21,377,434.51
Shareholders' equity
EUR 18,730,468.52
Capital
EUR 614,000.00
Subscribed capital (share capital)
EUR 614,000.00
Reserves
EUR 163,658.38
Capital reserves
EUR 102,258.38
Retained earnings / revenue reserves EUR 61,400.00
Balance sheet profit/loss (+/-) EUR 17,952,810.14
Balance sheet profit / loss
EUR 17,952,810.14
Provisions
EUR 350,305.81
Liabilities
EUR 2,296,660.18
Financial debts
EUR 1,280,862.64
Liabilities due to banks
EUR 1,280,862.64
Other liabilities
EUR 1,015,797.54
Unspecified other liabilities
EUR 1,015,797.54
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm. Code (HGB)
Gross result (+/-)
EUR 7,932,979.69
Staff expenses
EUR 3,983,640.18
Wages and salaries
EUR 3,328,149.39
Social security contributions and
expenses for pension plans and
benefits
EUR 655,490.79
Total depreciation
EUR 1,277,098.73
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,277,098.73
Other operating expenses
EUR 1,069,749.21
Operating result from continuing
operations
EUR 1,602,491.57
Interest result (+/-)
EUR 56,932.02
Interest and similar income
EUR 106,821.58
Interest and similar expenses
EUR 49,889.56
Financial result (+/-)
EUR 56,932.02
Result from ordinary operations (+/-)
EUR 1,659,423.59
Income tax / refund of income tax (+/-)EUR -480,221.32
Other taxes / refund of taxes
EUR -7,990.18
Tax (+/-)
EUR -488,211.50
Annual surplus / annual deficit
EUR 1,171,212.09
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.