|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HOFFMANN FÖRDERTECHNIK GMBH WURZEN |
|
|
|
|
Registered Office : |
Dresdener Str. 64-68, D 04808 Wurzen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1948 |
|
|
|
|
Com. Reg. No.: |
HRB 570 |
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|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Manufacture of other general-purpose
machinery |
|
|
|
|
No. of Employees |
Not Available |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
HOFFMANN Fördertechnik GmbH Wurzen
Dresdener Str. 64-68
D 04808 Wurzen
Telephone: 03425/8924-0
Telefax: 03425/8924-99
Homepage: www.liftket.de
E-mail: sales@liftket.de
DE141785173
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 01.01.1948
Shareholders' agreement: 01.05.1990
Registered on: 07.08.1990
Commercial Register: Local court 04275 Leipzig
under: HRB
570
Share capital: EUR 485,727.29
Brigitta Hühn
Dr.-Rudolf-Friedrichs-Str.
12
D 04808 Wurzen
born: 06.11.1954
Share: EUR 359,438.19
Shareholder:
Christina Hühn
D 04808 Wurzen
born: 01.12.1987
Share: EUR 126,289.09
Matthias Hühn
Dr.-Rudolf-Friedrichs-Str. 12
D 04808 Wurzen
having sole power
of representation
born: 20.12.1955
Profession: graduate
engineer
Marital status: married
Brigitta Hühn
Dr.-Rudolf-Friedrichs-Str.
12
D 04808 Wurzen
having sole power of
representation
born: 06.11.1954
Marital status: married
01.01.1948 - 06.08.1990 Dietrich Hoffmann (Hoffmann
Fördertechnik)
D 04808 Wurzen
Unregistered
commercial enterprise
07.08.1990 - 2009 HOFFMANN FÖRDERTECHNIK GmbH Wurzen
Dresdener Str. 68
D 04808 Wurzen
Private limited
company
Sectors
28290
Manufacture of other general-purpose machinery
4669
Wholesale of other machinery, equipment and supplies
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Dresdener Str. 64-68
D 04808 Wurzen
Real Estate of: Matthias Hühn
Type of ownership: proprietor
Share: 100.00 %
Address Dr.-Rudolf-Friedrichs-Str. 12
D 04808 Wurzen
Type of real estate: detached single-family
house
Land register documents were not available.
Principal bank
DEUTSCHE BANK, 04801 WURZEN
Sort. code: 86070000
BIC: DEUTDE8LXXX
Further banks
COMMERZBANK, 04009 LEIPZIG
Sort. code: 86040000
BIC:
COBADEFF860
UNICREDIT BANK - HYPOVEREINSBANK, 04009
LEIPZIG
Sort. code: 86020086
BIC: HYVEDEMM495
Gross profit or loss:2012 EUR 21,274,331.00
Profit: 2012 EUR 6,003,666.00
Equipment: EUR 1,030,213.00
Ac/ts receivable: EUR 4,760,091.00
Liabilities: EUR 3,736,786.00
Employees: 185
-
thereof permanent staff: 174
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 85.47
Liquidity ratio: 10.00
Return on total capital [%]: 14.78
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 84.32
Liquidity ratio: 10.00
Return on total capital [%]: 13.15
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 81.27
Liquidity ratio: 10.00
Return on total capital [%]: 14.77
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 83.92
Liquidity ratio: 10.00
Return on total capital [%]: 13.16
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 40,668,389.84
Fixed assets
EUR 10,129,918.39
Intangible assets
EUR 98,714.29
Other / unspecified intangible assetsEUR 98,714.29
Tangible assets
EUR 9,832,864.58
Land / similar rights
EUR 5,982,278.15
Plant / machinery
EUR 2,524,352.76
Other tangible assets / fixtures and
fittings
EUR 1,030,213.39
Advance payments made / construction
in progress
EUR 296,020.28
Financial assets EUR 198,339.52
Shares in participations /
subsidiaries and the like
EUR 198,339.52
Shares in related companies
EUR 198,339.52
Current assets
EUR 30,469,068.84
Stocks
EUR 9,645,228.10
Accounts receivable
EUR 4,760,091.21
Amounts due from related companies
EUR 25,490.20
Other debtors and assets
EUR 4,734,601.01
Liquid means
EUR 16,063,749.53
Remaining other assets
EUR 69,402.61
Accruals (assets)
EUR 1,931.61
Active difference from asset
offsetting
EUR 67,471.00
LIABILITIES EUR 40,668,389.84
Shareholders' equity
EUR 34,225,592.45
Capital
EUR 485,727.29
Subscribed capital (share capital)
EUR 485,727.29
Reserves
EUR 466,489.07
Retained earnings / revenue reserves EUR 466,489.07
Balance sheet profit/loss (+/-)
EUR 33,273,376.09
Profit / loss brought forward
EUR 27,269,710.56
Annual surplus / annual deficit
EUR 6,003,665.53
Items between shareholders' equity and
debt capital
EUR 1,080,204.35
Allowances / bonuses
EUR 1,080,204.35
Provisions
EUR 1,604,807.04
Liabilities
EUR 3,736,786.00
Financial debts
EUR 2,223,604.00
Liabilities due to banks
EUR 2,223,604.00
Other liabilities
EUR 1,513,182.00
Unspecified other liabilities
EUR 1,513,182.00
Other liabilities EUR 21,000.00
Deferrals (liabilities)
EUR 21,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 21,274,330.94
Staff expenses
EUR 7,288,107.64
Wages and salaries
EUR 6,259,115.66
Social security contributions and
expenses for pension plans and
benefits
EUR 1,028,991.98
Total depreciation
EUR 1,167,928.04
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,167,928.04
Other operating expenses EUR 4,075,721.08
Operating result from continuing
operations
EUR 8,742,574.18
Interest result (+/-)
EUR -35,673.99
Interest and similar income
EUR 100,495.47
Interest and similar expenses
EUR 136,169.46
Financial result (+/-)
EUR -35,673.99
Result from ordinary operations (+/-)
EUR 8,706,900.19
Income tax / refund of income tax (+/-)EUR -2,639,641.11
Other taxes / refund of taxes
EUR -63,593.55
Tax (+/-)
EUR -2,703,234.66
Annual surplus / annual deficit
EUR 6,003,665.53
Type of balance
sheet:
Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 37,897,372.57
Fixed assets
EUR 8,976,249.19
Intangible assets
EUR 114,752.52
Other / unspecified intangible assetsEUR 114,752.52
Tangible assets
EUR 8,663,157.15
Land / similar rights
EUR 5,769,187.91
Plant / machinery EUR 1,802,434.82
Other tangible assets / fixtures and
fittings
EUR 1,091,534.42
Financial assets
EUR 198,339.52
Shares in participations /
subsidiaries
and the like EUR 198,339.52
Shares in related companies
EUR 198,339.52
Current assets
EUR 28,919,191.77
Stocks
EUR 7,359,984.72
Accounts receivable
EUR 5,692,211.75
Amounts due from related companies
EUR 53,696.93
Other debtors and assets
EUR 5,638,514.82
Investments in current assets
EUR 654,237.68
Other investments
EUR 654,237.68
Liquid means
EUR 15,212,757.62
Remaining other assets
EUR 1,931.61
Accruals (assets) EUR 1,931.61
LIABILITIES EUR 37,897,372.57
Shareholders' equity
EUR 31,416,154.43
Capital
EUR 485,727.29
Subscribed capital (share capital)
EUR 485,727.29
Reserves
EUR 466,489.07
Retained earnings / revenue reserves EUR 466,489.07
Balance sheet profit/loss (+/-)
EUR 30,463,938.07
Profit / loss brought forward
EUR 25,489,350.48
Annual surplus / annual deficit
EUR 4,974,587.59
Items between shareholders' equity and
debt capital
EUR 1,098,468.64
Allowances / bonuses EUR 1,098,468.64
Provisions
EUR 1,680,428.30
Liabilities
EUR 3,675,321.20
Financial debts
EUR 2,404,758.00
Liabilities
due to banks EUR 2,404,758.00
Other liabilities
EUR 1,270,563.20
Liabililties due to related companiesEUR 11,891.17
Unspecified other liabilities
EUR 1,258,672.03
Other liabilities
EUR 27,000.00
Deferrals (liabilities)
EUR 27,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 18,408,121.77
Staff expenses
EUR 6,422,776.05
Wages and salaries
EUR 5,485,217.89
Social security contributions and
expenses for pension plans and
benefits EUR 937,558.16
Total depreciation
EUR 1,238,205.30
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,238,205.30
Other operating expenses
EUR 3,581,536.27
Operating result from continuing
operations
EUR 7,165,604.15
Interest result (+/-)
EUR -91,713.44
Interest and similar income
EUR 64,833.49
Interest and similar expenses
EUR 156,546.93
Financial result (+/-)
EUR -91,713.44
Result from ordinary operations (+/-)
EUR 7,073,890.71
Income
tax / refund of income tax (+/-)EUR
-2,041,862.21
Other taxes / refund of taxes
EUR -57,440.91
Tax (+/-)
EUR -2,099,303.12
Annual surplus / annual deficit
EUR 4,974,587.59
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
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|
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.