|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EVONIK FIBRES GMBH |
|
|
|
|
Registered Office : |
Politischer Gemeinde Schörfling am Attersee |
|
|
|
|
Country : |
Austria |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1996 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Manufacture of man-made fibres · Non-specialised wholesale trade |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Austria |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its well-developed market economy, skilled
labor force, and high standard of living, is closely tied to other EU
economies, especially Germany's. Its economy features a large service sector, a
sound industrial sector, and a small, but highly developed agricultural sector.
Following several years of solid foreign demand for Austrian exports and record
employment growth, the international financial crisis of 2008 and subsequent
global economic downturn led to a sharp but brief recession. Austrian GDP
contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in
2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in
Austria as elsewhere in Europe, partly because the government subsidized
reduced working hour schemes to allow companies to retain employees. The 2012
unemployment rate of 4.3% was the lowest within the EU. Stabilization measures,
stimulus spending, and an income tax reform pushed the budget deficit to 4.5%
in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international
financial crisis of 2008 caused difficulties for Austria's largest banks whose
extensive operations in central, eastern, and southeastern Europe faced large
losses. The government provided bank support - including in some instances,
nationalization - to support aggregate demand and stabilize the banking system.
Austria's fiscal position compares favorably with other euro-zone countries,
but it faces external risks, such as Austrian banks' continued exposure to
Central and Eastern Europe as well as political and economic uncertainties
caused by the European sovereign debt crisis. In 2011 the government attempted
to pass a constitutional amendment limiting public debt to 60% of GDP by 2020,
but it was unable to obtain sufficient support in parliament and instead passed
the measure as a simple law. In March 2012, the Austrian parliament approved an
austerity package consisting of a mix of expenditure cuts and new revenues that
will bring public finances into balance by 2016. In 2012, the budget deficit
rose to 3.1% of GDP
Source
: CIA
|
Last up-date: |
2013-11-04 |
|
Company name: |
Evonik Fibres GmbH |
|
Status: |
active company |
|
Locations: |
Gewerbepark 4, A-4861 Schörfling Attersee |
|
Phone: |
0043 (7672) 701 - 2891 |
|
Fax: |
0043 (7672) 96862 |
|
E-mail: |
barbara.korn@evonik.com |
|
Internet: |
http://www.p84.com |
|
Activities: |
Önace 20600 80% Manufacture of man-made fibres |
|
|
Önace 46900 20% Non-specialised wholesale trade |
|
|
|
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Probability of Default (Basel II): |
0,18% Very low risk |
|
comparison: |
The KSV-Rating of this company is better than industry average. |
|
Recommendation: |
In respect to solvency reasons, there is nothing to say against an establishment of a business relationship. |
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|
|
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Detail Assessment: |
Payments are made within net agreements. |
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Financial situation is satisfactory. |
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Year of incorporation: |
1996 |
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Activities: |
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Type of company: |
Manufacturing |
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Legal form: |
limited liability company since 1996-03-18 |
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companies' house number: |
FN 143483 f Wels 1996-03-23 |
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ARA-number: |
10791 |
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VAT number: |
ATU 40174306 |
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||||
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number - Austrian National Bank: |
2743868 |
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Import |
Country |
|
|
|
||
|
Import |
Germany |
|
2013 |
|
||
|
Import |
Japan |
|
2013 |
|
||
|
Import |
USA |
|
2013 |
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Export |
Country |
|
|
|
|
Export |
world-wide |
|
2013 |
|
|
total turnover (total sales) |
2012 |
EUR 34.931.000,00 |
(approx.) |
|
total turnover (total sales) |
2011 |
EUR 41.000.000,00 |
(approx.) |
|
total turnover (total sales) |
2010 |
EUR 41.874.118,38 |
(exact) |
|
total turnover (total sales) |
2009 |
EUR 35.350.475,46 |
(exact) |
|
total turnover (total sales) |
2008 |
EUR 46.826.635,86 |
(exact) |
|
total employees |
2013 |
90 |
(average) |
|
firm (style): |
|
16
Evonik Fibres GmbH |
|
legal form: |
|
1
Gesellschaft mit beschränkter Haftung |
|
registered office: |
|
21
politischer Gemeinde
Schörfling am Attersee |
|
business adress: |
|
21
Gewerbepark 4 |
|
capital: |
|
10
EUR 600.000 |
|
reference date annual accounts: |
|
1
31. Dezember |
|
annual accounts: |
|
27
zum 31.12.2012 eingereicht am 19.09.2013 |
|
power of representation: |
|
1
Die Generalversammlung bestimmt, wenn mehrere Geschäfts- |
|
proxy: |
|
F
Thomas Gigler, geb. 05.03.1967 |
|
managing director: |
|
D
Dr. Herbert Grießer, geb. 19.01.1952 |
|
shareholder: |
|
G
Evonik International Holding B.V. |
|
general table: |
|
Landesgericht Wels |
|
Real estate text: |
|
No real estate property registered |
|
Surname
|
Date of birth
|
Address
|
Executive positions
|
Further executive positions (as registered in the
companies' house) |
|
Dr. Herbert Grießer |
1952-01-19 |
4840 Vöcklabruck Parkstraße 15 |
manager, head of personnel |
0 |
|
Dr. Goetz Baumgarten
|
1966-09-23
|
45721 Haltern am See Reinhard-Freericks-Straße 20 |
joint signing clerk
|
0
|
|
Mag. Thomas Gigler |
|
4860 Lenzing Werkstraße 3(c/o) |
joint signing clerk, head of accounting |
0 |
|
Dr. Axel Kobus |
1970-02-14 |
63225 Langen Am Bergfried 11 a |
joint signing clerk |
0 |
|
Mag. Rudolf Hemmelmayr |
|
4860 Lenzing Werkstraße 3(c/o) |
head of sales, head of marketing |
0 |
|
Reinhard Gehmair |
|
4860 Lenzing Werkstraße 3(c/o) |
head of EDP |
0 |
|
Johann Kunesch |
|
4860 Lenzing Werkstraße 3(c/o) |
technical director |
0 |
|
|
2012-12-31 |
|
Franchises, patents, licences, trademarks and similar rights and advantages |
9.720,76 |
|
Sum intangible assets |
9.720,76 |
|
Land with buildings (building value) |
2.411.854,50 |
|
Other operating and business equipment |
378.764,21 |
|
Technical plants and machines |
9.854.320,42 |
|
Advanced payments and constructions in progress |
3.497.938,92 |
|
Sum tangible assets |
16.142.878,05 |
|
Other financial assets, values and securities of fixed assets |
385.465,47 |
|
Sum financial assets |
385.465,47 |
|
Sum fixed assets |
16.538.064,28 |
|
Raw-, auxiliary materials and supplies |
1.092.701,99 |
|
Unfinished products |
334.870,00 |
|
Finished products |
5.281.792,62 |
|
Sum stock |
6.709.364,61 |
|
Claims from delivered goods and performed services |
4.964.143,94 |
|
Claims against related firmes Claims against companies with shareholding relationship |
686.340,86 |
|
Special account claims |
699.537,90 |
|
Sum claims |
6.350.022,70 |
|
Cash on hand, cheques and bank deposits |
838.027,34 |
|
Sum cash and bank |
838.027,34 |
|
Sum current assets |
13.897.414,65 |
|
Assets |
30.435.478,93 |
|
Subscribed/declared capital |
600.000,00 |
|
Legal reserves |
60.000,00 |
|
Balance sheet profit/balance sheet loss |
7.441.609,18 |
|
Thereof profit/loss carried forward |
8.849.723,15 |
|
Sum equity capital |
8.101.609,18 |
|
Valuation reserves and other reserves before taxes |
1.031.885,65 |
|
Sum reserves before taxes |
1.031.885,65 |
|
Reservesfor severance pays |
1.025.488,92 |
|
Reserves for pensions |
1.477.484,00 |
|
Other reserves |
2.100.489,53 |
|
Sum reserves |
4.603.462,45 |
|
Liabilities against credit institutes |
981.944,86 |
|
Liabilities from delivered goods and performed services from the acceptance of drafts and emission of promissory notes |
5.482.352,10 |
|
Liabilities against related firms |
8.831.448,89 |
|
Other liabilities |
1.402.775,80 |
|
Sum liabilities |
16.698.521,65 |
|
Liabilities |
30.435.478,93 |
|
Balance sheet sum |
30.435.478,93 |
|
|
2012-12-31 |
|
Gross sales |
34.931.000,83 |
|
Increase or decrease in finished and unfinished goods and in service claims |
74.016,00 |
|
Sum turnover or sum gross profit |
35.005.016,83 |
|
Income from dissolution of reserves |
56.026,00 |
|
Other operating profits |
410.490,32 |
|
Other operating profits totally |
466.516,32 |
|
Costs for obtained services |
-1.597.621,17 |
|
Special account material costs |
-21.633.230,72 |
|
Costs for obtained services totally |
-23.230.851,89 |
|
Wages |
-2.318.896,02 |
|
Salaries |
-2.519.938,93 |
|
Costs for severance pays |
65.260,05 |
|
Costs for old age pension |
-43.254,00 |
|
Legal fringe benefits and other payments depending on salaries |
-1.236.462,56 |
|
Other social fringe benefits |
-3.878,19 |
|
Personnel expenses totally |
-6.057.169,65 |
|
Depreciation of intangible assets, tangible assets,activated expenses for the set up and expansion of business operation |
-1.836.919,88 |
|
Depreciation tangible assets / intangible assets totally |
-1.836.919,88 |
|
Different operating costs |
-5.519.553,58 |
|
Other operating costs totally |
-5.519.553,58 |
|
Operating result totally |
-1.172.961,85 |
|
Interest income, securties income and similar income |
8.648,34 |
|
Profits from the retirement of and investment in financial assets |
15.408,38 |
|
Interest and similar disbursements |
-257.458,84 |
|
Financial profits totally |
-233.402,12 |
|
Results from usual business activity totally |
-1.406.363,97 |
|
Taxes on income and profits |
-1.750,00 |
|
Taxes on income and profits totally |
-1.750,00 |
|
Annual surplus/annual deficit totally |
-1.408.113,97 |
|
Annual profit/annual loss totally |
-1.408.113,97 |
|
Profit and loss carried forward from previous year |
8.849.723,15 |
|
Transfer of profits totally |
8.849.723,15 |
|
B/S profit/ B/S loss from profit and loss account |
7.441.609,18 |
|
|
2012 |
|
Cash flow II |
428.805,91 |
|
Debt amortisation period |
47,72 |
|
Bank indebtedness |
3,22 |
|
Equity capital share |
30,00 |
|
Social capital share |
8,22 |
|
Fixed assets coverage |
70,36 |
|
Net profit ratio |
-4,01 |
|
Capital turnover |
1,15 |
|
Return on investment |
-3,77 |
|
Cash flow in % of operating performance |
1,22 |
|
Cash flow I |
430.555,91 |
|
Gross productivity |
5,77 |
|
Net productivity |
1,94 |
|
Operating performance |
35.005.016,83 |
|
Inventories in % of operating performance |
19,16 |
|
Gross profit |
11.774.164,94 |
|
Type |
Locations |
Description |
|
|
|
E-mail |
|
operational |
Gewerbepark 4, A-4861 Schörfling Attersee |
registered headquarters, rented premises |
|
|
|
barbara.korn@evonik.com |
|
operational |
Werkstraße 3, A-4860 Lenzing, (Werksgelände der Lenzing AG) |
main production, rented premises |
|
|
|
|
|
operational |
Gewerbepark 4, A-4861 Schörfling Attersee |
registered office |
|
|
|
|
|
former |
Werkstraße 3, A-4860 Lenzing |
registered office |
|
|
|
|
|
former |
Werkstraße 3, A-4860 Lenzing |
registered headquarters |
|
|
|
|
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Company name
|
Postal code
|
Stake in %
|
KSV-number |
|
|
Shares in this company are held by: |
||||
|
Evonik International Holding B.V. |
hettenheuvelweg 37-39, NL-1101 Amsterdam |
100 % 2010-11-12
|
1.995.420
|
|
|
|
|
|
|
|
Banker |
Bank sort code |
Type of banking connection |
|
|
Oberbank AG, 4860 Lenzing |
15000
|
main bank connection |
|
|
UniCredit Bank Austria AG, 4021 Linz/Donau |
11000
|
secondary banking connection |
|
|
|
|
||
|
Year of incorporation: |
1996 |
|
Date of registration: |
1996-03-23 |
|
Change of company name: |
||
|
From |
To |
Company name |
|
|
2007-11-20 |
Inspec Fibres GmbH |
|
2007-11-20 |
|
Evonik Fibres GmbH |
|
Change in share capital: |
||
|
From |
To |
Capital |
|
|
2003-06-24 |
ATS 8.000.000,00 |
|
2003-06-24 |
|
EUR 600.000,00 |
|
Former executives: |
|||
|
From |
To |
Function |
Name |
|
|
2002-09-21 |
manager |
Derek Harry Warner |
|
2002-09-21 |
2009-02-20 |
manager |
Donald Charles MacKenzie Andrews |
|
Former shareholders: |
|||
|
From |
To |
Function |
Name |
|
1996-03-23 |
1996-10-23 |
partner |
Dr. Maria Theresia Pflügl |
|
1996-03-18 |
2010-11-12 |
partner |
Inspec Group B.V. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.30 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.