|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RENK AKTIENGESELLSCHAFT |
|
|
|
|
Registered Office : |
Gögginger Str. 73 D 86159 Augsburg Post Box: 10 23 07, D
86013 Augsburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1873 |
|
|
|
|
Com. Reg. No.: |
HRB 6193 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees |
1,872 |
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 – March 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
RENK AKTIENGESELLSCHAFT
Company Status: active
Gögginger Str. 73
D 86159
Augsburg
Post Box:
10 23 07, D 86013 Augsburg
Telephone:0821/5700-0
Telefax:
0821/5700-460
Homepage: www.renk.eu
E-mail:
info.augsburg@renk.biz
VAT no.: DE811155359
Tax ID number: 143/103/50002
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 1873
Registered on: 30.03.1897
Commercial Register: Local court 86150 Augsburg
under: HRB
6193
Share capital: EUR 17,920,000.00
The company is listed on
the stock market.
Shareholder:
RENK Aktiengesellschaft
Gögginger Str. 73
D 86159 Augsburg
Post Box:
10 23 07, D 86013
Augsburg
Legal form: Public
limited company
Share capital: EUR
17,920,000.00
Share: 2.860 %
Registered on: 30.03.1897
Reg. data: 86150
Augsburg, HRB 6193
Shareholder:
MAN SE
Ungererstr. 69
D 80805 München
Post Box:
20 13 63, D 80013 München
Legal form: European
Company (SE)
Share capital: EUR
376,422,400.00
Share: 76.000 %
Registered on: 19.05.2009
Reg. data: 80333 München,
HRB 179426
Member of
the Board of Directors:
Ulrich Sauter
D 86637 Wertingen
Member of
the Board of Directors:
Dipl.-Ing. Florian
Hofbauer
D 86899 Landsberg
born: 04.12.1960
President of
the Supervisory Board:
Dr. Ingrun-Ulla Bartölke
Herzog-Franz-Str. 17
D 38442 Wolfsburg
born: 12.10.1967
Vice-president of the Supervisory Board:
Roberto Armellini
Augsburger Str. 9
D 86157 Augsburg
Member of
the Supervisory Board:
Prof. Gerd Finkbeiner
D 86356 Neusäß
Profession: Fully
qualified engineer
Marital status:
unknown
Member of
the Supervisory Board:
Dr.-Ing. Hans-Otto Jeske
Zietenstr. 31
D 46485 Wesel
born: 20.06.1949
Member of the
Supervisory Board:
Prof. Dr.-Ing Werner
Neubauer
D 38440 Wolfsburg
born: 04.06.1949
Profession: Businessman
Marital status: unknown
Member of
the Supervisory Board:
Dr. Georg Pachta-Reyhofen
D 82343 Pöcking
born: 28.06.1955 in
München
Profession: Engineer
Nationality: Austrian
Member of
the Supervisory Board:
Dr. Horst Neumann
D 38440 Wolfsburg
Representative of the Employees within the
Supervisory Board:
Klaus Ketterle
D 86356 Neusäß
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Frank Hoffmann
D 86150 Augsburg
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Herbert Surmann
D 48432 Rheine
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Walter Vogt
D 65346 Eltville
Marital status: unknown
Proxy:
Winfried Vogl
D 93152 Nittendorf
authorized to jointly
represent the company
born: 18.10.1958
Proxy:
Richard Voß
D 31249 Hohenhameln
Proxy:
Stephan Mazurkiewicz
D 86609 Donauwörth
authorized to jointly
represent the company
born: 19.12.1959
Proxy:
Dr. Franz Hoppe
D 86150 Augsburg
Proxy:
Manfred Hukker
D 30952 Ronnenberg
Proxy:
Rolf Buchmann
D 85221 Dachau
authorized to jointly
represent the company
born: 14.01.1952
Proxy:
Georg Piller
D 86159 Augsburg
authorized to jointly
represent the company
born: 03.10.1970
Proxy:
Martin Pleus
D 48480 Spelle
born: 23.11.1959
Proxy:
Franz Haslinger
D 84437 Reichertsheim
authorized to jointly
represent the company
born: 30.03.1967
Proxy:
Ralph Josephs
D 81929 München
authorized to jointly represent
the company
born: 16.02.1968
Proxy:
Dr. Gottfried Braun
An der Nußhecke 5
D 86316 Friedberg
authorized to jointly
represent the company
born:
11.02.1961
Proxy:
Christof Heßling
D 45721 Haltern am See
authorized to jointly
represent the company
born: 12.04.1961
Proxy:
Frank Hoffmann
D 86159 Augsburg
authorized to jointly
represent the company
born: 27.05.1961
Proxy:
Dirk Kremkow
D 17039 Neuenkirchen
authorized to
jointly represent the company
born: 05.10.1965
Further
functions/participations of Dipl.-Ing. Florian Hofbauer
(Member of
the Board of Directors)
Manager:
Verwaltungsgesellschaft
Wasseralfingen mbH
Ungererstr. 69 c/o MAN SE
D 80805 München
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.09.2005
Reg. data: 89073 Ulm, HRB 501648
1873 - 1897 Johann Renk
D 86150 Augsburg
Unregistered
commercial enterprise
1897 - 1955 Zahnräderfabrik Augsburg vorm.
Joh. Renk
D 86150 Augsburg
Public limited
company
1955 - 30.03.1987 Zahnräderfabrik Renk Aktiengesellschaft
D 86150 Augsburg
Public limited
company
30.03.1987 - 2001 RENK Aktiengesellschaft
Gögginger Str. 71-83
D 86159 Augsburg
Public limited company
14.10.2011 - 27.06.2013 President of the Supervisory Board
Frank Helmut Lutz
D 80639 München
14.10.2011 - 27.06.2013 Vice-president of the Supervisory Board
Hiltrud Werner
D 81925 München
Main industrial sector
26512
Manufacture of instruments and appliances for measuring, testing and
navigation
28290 Manufacture of other general-purpose
machinery
Branch:
RENK Aktiengesellschaft
Rodder Damm 170
D 48432 Rheine
TEL.: 05971/7900
FAX.: 05971/790208
Branch:
RENK Aktiengesellschaft
Weltausstellungsallee 21
D 30539 Hannover
TEL.: 0511/86010
FAX.: 0511/8601266
Shareholder:
Renk Corporation
USA - Duncan
Legal form: Private
limited company
Company Status: active
Share capital: EUR
511,291.88
Shareholder:
RENK Test System GmbH
Gögginger Str. 73
D 86159 Augsburg
Legal form: Private
limited company
Company Status: active
Share
capital: EUR 500,000.00
Share: EUR 500,000.00
Reg. data: 12.12.2000
Local court
86150 Augsburg
HRB 18189
Shareholder:
ADMOS-Gleitlager
Produktions- und
Vertriebsgesellschaft mbH
Wilhelminenhofstr. 89a
D 12459 Berlin
Legal form: Private
limited company
Company Status: active
Share capital: EUR 270,000.00
Share: EUR 270,000.00
Reg. data: 10.11.1992
Local court 14057
Berlin
HRB 45230 B
Shareholder:
RENK Aktiengesellschaft
Gögginger Str. 73
D 86159 Augsburg
Post Box:
10 23 07
Legal form: Public
limited company
Company Status: active
Share capital: EUR
17,920,000.00
Share: 2.860 %
Reg. data: 30.03.1897
Local court
86150 Augsburg
HRB 6193
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 Gögginger Str. 71 - 83
D 86159 Augsburg
Type of ownership: Tenant
Address Gögginger Str. 73
D 86159 Augsburg
Type of ownership: proprietor
Share: 100.00 %
Address Rodder Damm 170
D 48432 Rheine
Size: 85,000.00 sq.m
Land register documents were not available.
Principal
bank
UNICREDIT BANK - HYPOVEREINSBANK, 86002
AUGSBURG, BAY
Sort. code: 72020070
BIC: HYVEDEMM408
Further
banks
STADTSPARKASSE AUGSBURG, 86135 AUGSBURG, BAY
Sort. code: 72050000
BIC: AUGSDE77XXX
COMMERZBANK, 86150 AUGSBURG, BAY
Sort. code: 72040046, Account no.: 1137710
BIC: COBADEFF720
UNICREDIT BANK - HYPOVEREINSBANK, 20454
HAMBURG
Sort. code: 20030000
BIC: HYVEDEMM300
BUNDESBANK, 86136 AUGSBURG, BAY
Sort. code: 72000000
BIC: MARKDEF1720
Turnover: 2012 EUR 399,508,000.00
Profit: 2012 EUR 42,881,000.00
Equipment: EUR 6,314,000.00
Ac/ts
receivable:
EUR 65,422,000.00
Liabilities: EUR
139,982,000.00
Employees:
1,872
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 52.57
Liquidity ratio: 1.55
Return on total capital [%]: 9.89
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 52.90
Liquidity ratio: 1.30
Return on total capital [%]: 7.53
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 55.29
Liquidity ratio: 3.26
Return on total capital [%]: 6.46
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 48.15
Liquidity ratio: 2.60
Return on total capital [%]: 9.77
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 433,443,000.00
Fixed
assets EUR 123,632,000.00
Intangible assets
EUR 1,006,000.00
Concessions, licences, rights
EUR 1,006,000.00
Tangible assets
EUR 106,366,000.00
Land / similar rights
EUR 78,116,000.00
Other tangible assets / fixtures and
fittings
EUR 6,314,000.00
Advance payments made / construction
in progress EUR 21,936,000.00
Financial assets
EUR 16,260,000.00
Shares in participations /
subsidiaries and the like
EUR 16,249,000.00
Shares in related companies
EUR 15,475,000.00
Shares in investee companies
EUR 774,000.00
Other loans
EUR 11,000.00
Current assets
EUR 309,185,000.00
Stocks
EUR 145,864,000.00
Raw materials, consumables and
supplies
EUR 21,314,000.00
Finished goods / work in progress
EUR 124,419,000.00
Advance payments made
EUR 131,000.00
Accounts receivable
EUR 65,422,000.00
Trade debtors
EUR 64,586,000.00
Other debtors and assets
EUR 836,000.00
Liquid means
EUR 97,899,000.00
Remaining other assets
EUR 626,000.00
Accruals (assets)
EUR 626,000.00
LIABILITIES EUR 433,443,000.00
Shareholders' equity
EUR 227,871,000.00
Capital
EUR 17,408,000.00
Subscribed capital (share capital)
EUR 17,920,000.00
Other capital
EUR -512,000.00
Reserves EUR 167,998,000.00
Capital reserves
EUR 10,669,000.00
Retained earnings / revenue reserves EUR 157,329,000.00
Balance sheet profit/loss (+/-)
EUR 42,465,000.00
Balance sheet profit / loss
EUR 42,465,000.00
Provisions
EUR 65,590,000.00
Pension provisions and comparable
provisions
EUR 8,860,000.00
Provisions for taxes EUR 10,516,000.00
Other / unspecified provisions
EUR 46,214,000.00
Liabilities
EUR 139,982,000.00
Other liabilities
EUR 139,982,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 33,930,000.00
Liabilities from received advance
payments
EUR 82,224,000.00
Unspecified other liabilities
EUR 23,828,000.00
thereof liabilities from tax /
financial authorities
EUR 1,486,000.00
thereof liabilities from social
security
EUR 436,000.00
Guarantees and other commitments
EUR 9,539,000.00
Guarantees / warranties
EUR 9,539,000.00
Guarantees
EUR 9,539,000.00
PROFIT AND LOSS ACCOUNT (cost of sales method)
according to Comm.
Code (HGB)
Sales EUR 399,508,000.00
Manufacturing costs
EUR 303,699,000.00
Gross result on sales
EUR 95,809,000.00
Distribution costs
EUR 25,266,000.00
General administration expenses
EUR 10,448,000.00
Other operating income
EUR 6,488,000.00
Other operating expenses
EUR 11,425,000.00
Operating result from continuing
operations EUR 55,158,000.00
Result from participating interests
(+/-)
EUR 3,477,000.00
Expenses / income from participations EUR 3,477,000.00
Income from related companies
EUR 3,477,000.00
Interest result (+/-)
EUR 535,000.00
Interest and similar income
EUR 806,000.00
Interest and similar expenses
EUR 271,000.00
Other financial result EUR 1,005,000.00
Other financial income
EUR 1,005,000.00
Financial result (+/-)
EUR 5,017,000.00
Result from ordinary operations (+/-)
EUR 60,175,000.00
Income tax / refund of income tax (+/-)EUR -17,294,000.00
Tax (+/-)
EUR -17,294,000.00
Annual surplus / annual deficit
EUR 42,881,000.00
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 372,825,000.00
Fixed assets
EUR 114,156,000.00
Intangible assets
EUR 902,000.00
Concessions, licences, rights
EUR 902,000.00
Tangible assets
EUR 95,372,000.00
Land / similar rights
EUR 38,112,000.00
Plant / machinery
EUR 32,619,000.00
Other tangible assets / fixtures and
fittings
EUR 4,625,000.00
Advance payments made / construction
in progress
EUR 20,016,000.00
Financial assets EUR
17,882,000.00
Shares in participations /
subsidiaries and the like
EUR 10,368,000.00
Shares in related companies
EUR 9,594,000.00
Shares in investee companies
EUR 774,000.00
Loans to participations /
subsidiaries and the like
EUR 7,500,000.00
Loans to related companies
EUR 7,500,000.00
Other loans
EUR 14,000.00
Current assets EUR 257,959,000.00
Stocks
EUR 127,660,000.00
Raw materials, consumables and
supplies
EUR 17,370,000.00
Finished goods / work in progress
EUR 109,984,000.00
Advance payments made
EUR 306,000.00
Accounts receivable
EUR 68,664,000.00
Trade debtors
EUR 67,780,000.00
Other
debtors and assets EUR 884,000.00
Liquid means
EUR 61,635,000.00
Remaining other assets
EUR 710,000.00
Accruals (assets)
EUR 710,000.00
LIABILITIES EUR 372,825,000.00
Shareholders' equity
EUR 197,230,000.00
Capital
EUR 17,408,000.00
Subscribed capital (share capital)
EUR 17,920,000.00
thereof not yet paid-up capital
EUR 512,000.00
thereof uncalled outstanding
contributions
EUR -512,000.00
Reserves
EUR 146,558,000.00
Capital reserves
EUR 10,669,000.00
Retained earnings / revenue reserves EUR 135,889,000.00
Balance sheet profit/loss (+/-)
EUR 33,264,000.00
Balance sheet profit / loss
EUR 33,264,000.00
Provisions
EUR 61,064,000.00
Pension provisions and comparable
provisions
EUR 11,755,000.00
Provisions for taxes
EUR 2,973,000.00
Other / unspecified provisions
EUR 46,336,000.00
Liabilities
EUR 114,531,000.00
Other liabilities
EUR 114,531,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 32,813,000.00
Liabilities from received advance
payments
EUR 61,900,000.00
Unspecified other liabilities
EUR 19,818,000.00
thereof liabilities from tax /
financial authorities
EUR 1,273,000.00
thereof liabilities from social
security
EUR 760,000.00
Guarantees and other commitments
EUR 13,359,000.00
Guarantees / warranties
EUR 13,359,000.00
Guarantees
EUR 13,359,000.00
PROFIT AND LOSS ACCOUNT (cost of sales method)
according to Comm.
Code (HGB)
Sales
EUR 320,169,000.00
Manufacturing costs
EUR 246,659,000.00
Gross result on sales
EUR 73,510,000.00
Distribution costs
EUR 23,196,000.00
General administration expenses
EUR 10,448,000.00
Other operating income
EUR 9,557,000.00
Other operating expenses
EUR 8,087,000.00
Operating result from continuing
operations
EUR 41,336,000.00
Result from participating interests
(+/-)
EUR 1,443,000.00
Expenses / income from participations EUR 1,443,000.00
Interest result (+/-)
EUR 185,000.00
Interest and similar income
EUR 1,141,000.00
Interest and similar expenses
EUR 956,000.00
Other financial result
EUR -2,363,000.00
Other financial expenses
EUR 2,363,000.00
Financial
result (+/-) EUR -735,000.00
Result from ordinary operations (+/-)
EUR 40,601,000.00
Income tax / refund of income tax (+/-)EUR -12,528,000.00
Tax (+/-)
EUR -12,528,000.00
Annual surplus / annual deficit
EUR 28,073,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.