|
Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISOVOLTAIC AG |
|
|
|
|
Registered Office : |
Isovoltaicstraße 1, A-8403 Lebring |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of plastic plates, sheets, tubes and profiles |
|
|
|
|
No of Employees : |
120 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Austria |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
|
KSV-number: |
1522905 |
|
Last up-date: |
2014-07-28 |
|
Company name: |
ISOVOLTAIC AG |
|
Status: |
active company |
|
Locations: |
Isovoltaicstraße 1, A-8403 Lebring |
|
Phone: |
0043 (0) 05/9191 |
|
Fax: |
0043 (0) 05/9191 - 9900 |
|
E-mail: |
info@isovoltaic.com |
|
Internet: |
http://www.isovoltaic.com |
|
Activities: |
Önace 22210 100% Manufacture of plastic plates, sheets,
tubes and profiles |
|
Year of incorporation: |
2006 |
|
||||
|
Activities: |
|
|
||||
|
Type of company: |
Manufacturing |
|
||||
|
Legal form: |
joint stock company since 2010-11-23 |
|
||||
|
companies' house number: |
FN 285789 d Graz 2006-11-25 |
|
||||
|
VAT number: |
ATU 63053359 |
|
||||
|
number - Austrian National Bank: |
7773820 |
|
||||
|
|
|
|||||
|
|
||||||
|
Import |
Country |
|
|
|
||
|
Import |
Germany |
|
2014 |
|
||
|
total turnover (total sales) |
2013 |
EUR 57.000.000,00 |
(estimated) |
|
total turnover (total sales) |
2012 |
EUR 91.392.908,02 |
(exact) |
|
total turnover (total sales) |
2011 |
EUR 183.924.238,02 |
(exact) |
|
total turnover (total sales) |
2010 |
EUR 206.722.755,96 |
(exact) |
|
total turnover (total sales) |
2009 |
EUR 1.733.466,46 |
(exact) |
|
turnover (sales) - group |
2013 |
EUR 59.060.000,00 |
(approx.) |
|
turnover (sales) - group |
2012 |
EUR 96.779.000,00 |
(approx.) |
|
turnover (sales) - group |
2011 |
EUR 191.508.000,00 |
(approx.) |
|
total employees |
2014 |
120 |
(approx.) |
|
total investments |
2012 |
EUR 2.715.179,65 |
(exact) |
|
total company vehicles |
2014 |
15 |
(approx.) |
|
firm
(style): |
|
25
ISOVOLTAIC AG |
|
legal
form: |
|
25
Aktiengesellschaft |
|
registered
office: |
|
18
politischer Gemeinde Lebring-Sankt Margarethen |
|
business
adress: |
|
29
Isovoltaicstraße 1 |
|
capital: |
|
28
EUR 5.000.000 |
|
reference
date annual accounts: |
|
7
31. Dezember |
|
annual
accounts: |
|
31
zum 31.12.2012 eingereicht am 29.08.2013 |
|
consolidated
accounts: |
|
31
zum 31.12.2012 eingereicht am 29.08.2013 |
|
other
provisions: |
|
25
Der Vorstand besteht aus einer , zwei, drei oder vier |
|
board
of directors: |
|
I
Dipl.-HTL-Ing. Manfred Schlögl, geb. 20.11.1958 |
|
proxy: |
|
R
Mag. Christoph von Lutz, geb. 22.04.1977 |
|
supervisory
board: |
|
C
Ing. Mag. Dr. Erlfried Taurer, geb. 10.03.1967 |
|
general
table: |
|
Landesgericht Eisenstadt |
|
Registration number of real
estate 834 Cadastral register 66418 Lebring ST
Number and date of entry 2350/2011 Status of
2013-02-01 |
|
Part
A - type of real estate : |
|
GST-NR
G BA (NUTZUNG)
FLÄCHE GST-ADRESSE |
|
Part
B - ownership details : |
|
1 ANTEIL: 1/1 |
|
Part
C - registered charges : |
|
1
a 655/2002 1402/2005 |
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as
registered in the companies' house) |
|
Mag. Christoph von-Lutz |
1977-04-22 |
8403 Lebring Isovoltastraße 1 |
joint signing clerk |
0 |
|
Dipl-Ing. Thomas Rossegger |
1968-08-23 |
8600 Bruck Mur Ziegelofenweg 60 |
member of the executive board |
0 |
|
Dipl-Ing. Manfred Schlögl |
1958-11-20 |
8521 Wettmannstätten Nr. 124 |
member of the executive board, technical director |
0 |
|
Stanislaus Turnauer |
1970-11-05 |
1030 Wien Jauresgasse 11 |
chairman of the supervisory board |
12 |
|
Ing.Mag.Dr. Erlfried Taurer |
1967-03-10 |
1010 Wien Opernring 19 |
deputy chairman of the supervisory board |
10 |
|
Mag Ferdinand Calice |
1971-09-27 |
SW75EH London 7 Queensgate |
member of the supervisory board |
0 |
|
Dr. Johannes Liechtenstein |
1969-01-28 |
1090 Wien Berggasse 22 |
member of the supervisory board |
4 |
|
MSc. Klaudia Schober |
|
8403 Lebring Isovoltastraße 1(c/o) |
head of marketing |
0 |
|
|
2012-12-31 |
|
|
|
|
|
Franchises, patents, licences, trademarks and similar
rights and advantages |
295.504,00 |
|
|
|
|
|
Sum intangible assets |
295.504,00 |
|
|
|
|
|
|
|||||
|
Land with buildings (basic value) |
1.798.159,83 |
|
|
|
|
|
Land with buildings (building value) |
14.585.368,00 |
|
|
|
|
|
Land and leasehold rights with buildings thereon including
building on land owned by third parties |
315.619,00 |
|
|
|
|
|
Other operating and business equipment |
1.975.987,00 |
|
|
|
|
|
Technical plants and machines |
24.632.024,00 |
|
|
|
|
|
Advanced payments and constructions in progress |
104.492,95 |
|
|
|
|
|
Sum tangible assets |
43.411.650,78 |
|
|
|
|
|
|
|||||
|
Shares on related firms |
385.478,02 |
|
|
|
|
|
Sum financial assets |
385.478,02 |
|
|
|
|
|
|
|||||
|
Sum fixed assets |
44.092.632,80 |
|
|
|
|
|
|
|||||
|
Raw-, auxiliary materials and supplies |
9.180.796,68 |
|
|
|
|
|
Unfinished products |
4.432.441,54 |
|
|
|
|
|
Finished products |
2.228.812,38 |
|
|
|
|
|
Sum stock |
15.842.050,60 |
|
|
|
|
|
|
|||||
|
Claims from delivered goods and performed services |
3.651.464,68 |
|
|
|
|
|
Claims against related firmes Claims against companies
with shareholding relationship |
13.222.473,83 |
|
|
|
|
|
Other claims and assets |
1.879.646,85 |
|
|
|
|
|
Sum claims |
18.753.585,36 |
|
|
|
|
|
|
|||||
|
Cash on hand, cheques and bank deposits |
11.421.121,29 |
|
|
|
|
|
Sum cash and bank |
11.421.121,29 |
|
|
|
|
|
|
|||||
|
Sum current assets |
46.016.757,25 |
|
|
|
|
|
|
|||||
|
Deferred charges |
775.256,13 |
|
|
|
|
|
Sum deferred charges |
775.256,13 |
|
|
|
|
|
Assets |
90.884.646,18 |
|
|
|
|
|
|
|||||
|
Contingent claims |
1.228.074,10 |
|
|
|
|
|
Subscribed/declared capital |
5.000.000,00 |
|
|
|
|
|
Legal reserves |
1.700.000,00 |
|
|
|
|
|
Balance sheet profit/balance sheet loss |
19.063.395,86 |
|
|
|
|
|
Thereof profit/loss carried forward |
29.406.657,57 |
|
|
|
|
|
Sum equity capital |
25.763.395,86 |
|
|
|
|
|
|
|||||
|
Other reserves before taxes |
99.432,00 |
|
|
|
|
|
Sum reserves before taxes |
99.432,00 |
|
|
|
|
|
|
|||||
|
Reserves for severance pays |
802.581,00 |
|
|
|
|
|
Other reserves |
4.982.207,54 |
|
|
|
|
|
Sum reserves |
5.784.788,54 |
|
|
|
|
|
|
|||||
|
Liabilities against credit institutes |
26.240.000,00 |
|
|
|
|
|
Liabilities from delivered goods and performed services |
2.846.654,61 |
|
|
|
|
|
Liabilities against firm with shareholding relationship |
27.503.500,00 |
|
|
|
|
|
Other liabilities |
2.646.875,17 |
|
|
|
|
|
Sum liabilities |
59.237.029,78 |
|
|
|
|
|
|
|||||
|
Liabilities |
90.884.646,18 |
|
|
|
|
|
|
|||||
|
Contingent liabilities |
4.441.793,61 |
|
|
|
|
|
Balance sheet sum |
90.884.646,18 |
|
|
|
|
|
|
2012-12-31 |
|
|
|
|
|
Gross sales |
91.392.908,02 |
|
|
|
|
|
Increase or decrease in finished and unfinished goods and
in service claims |
-15.001.267,75 |
|
|
|
|
|
Total turnover or gross profit |
76.391.640,27 |
|
|
|
|
|
|
|||||
|
Profits from retirement of fixed assets, except financial
assets |
7.499,00 |
|
|
|
|
|
Income from dissolution of reserves |
1.645.158,02 |
|
|
|
|
|
Other operating profits |
6.092.047,27 |
|
|
|
|
|
Other operating profits totally |
7.744.704,29 |
|
|
|
|
|
|
|||||
|
Costs for obtained services |
-161.763,43 |
|
|
|
|
|
Material costs |
-59.725.731,57 |
|
|
|
|
|
Costs for obtained services totally |
-59.887.495,00 |
|
|
|
|
|
|
|||||
|
Wages |
-4.785.492,35 |
|
|
|
|
|
Salaries |
-5.091.975,40 |
|
|
|
|
|
Costs for severance pays |
-1.177.806,28 |
|
|
|
|
|
Legal fringe benefits and other payments depending on
salaries |
-2.549.937,59 |
|
|
|
|
|
Other social fringe benefits |
-715.839,48 |
|
|
|
|
|
Personnel expenses totally |
-14.321.051,10 |
|
|
|
|
|
|
|||||
|
Depreciation of intangible assets, tangible
assets,activated expenses for the set up and expansion of business
operation |
-5.903.478,11 |
|
|
|
|
|
Depreciation tangible assets / intangible assets
totally |
-5.903.478,11 |
|
|
|
|
|
|
|||||
|
Other operating costs |
-13.486.989,84 |
|
|
|
|
|
Other taxes |
-63.615,23 |
|
|
|
|
|
Total costs |
-13.550.605,07 |
|
|
|
|
|
|
|||||
|
Operating result totally |
-9.526.284,72 |
|
|
|
|
|
|
|||||
|
Interest income, securties income and similar income |
406.687,20 |
|
|
|
|
|
Interest and similar disbursements |
-1.126.636,61 |
|
|
|
|
|
Financial profits totally |
-719.949,41 |
|
|
|
|
|
|
|||||
|
Results from usual business activity
totally |
-10.246.234,13 |
|
|
|
|
|
|
|||||
|
Taxes on income and profits |
-98.473,58 |
|
|
|
|
|
Taxes on income and profits totally |
-98.473,58 |
|
|
|
|
|
Annual surplus/annual deficit
totally |
-10.344.707,71 |
|
|
|
|
|
|
|||||
|
Dissolution reserves before taxes |
1.458,00 |
|
|
|
|
|
Transfer to reserves before taxes |
-12,00 |
|
|
|
|
|
Reserves movements totally |
1.446,00 |
|
|
|
|
|
Annual profit/annual loss
totally |
-10.343.261,71 |
|
|
|
|
|
|
|||||
|
Profit and loss carried forward from previous year |
29.406.657,57 |
|
|
|
|
|
Transfer of profits totally |
29.406.657,57 |
|
|
|
|
|
B/S profit/ B/S loss from profit and
loss account |
19.063.395,86 |
|
|
|
|
|
|
2012 |
|
Cash flow II |
-4.441.229,60 |
|
Debt amortisation period |
-12,06 |
|
Bank indebtedness |
28,87 |
|
Equity capital share |
28,45 |
|
Social capital share |
0,88 |
|
Fixed assets coverage |
60,47 |
|
Net profit ratio |
-13,41 |
|
Capital turnover |
0,84 |
|
Return on investment |
-10,03 |
|
Cash flow in % of operating performance |
-5,81 |
|
Cash flow I |
-4.342.756,02 |
|
Gross productivity |
5,33 |
|
Net productivity |
1,15 |
|
Operating performance |
76.391.640,27 |
|
Inventories in % of operating performance |
20,73 |
|
Gross profit |
16.504.145,27 |
|
Type |
Locations |
Description |
|
|
|
E-mail |
|
operational |
Isovoltaicstraße 1, A-8403 Lebring |
registered office |
|
|
|
|
|
operational |
Isovoltaicstraße 1, A-8403 Lebring |
registered headquarters, owned property |
|
|
|
info@isovoltaic.com |
|
former |
Isovoltastraße 1, A-8403 Lebring |
registered office |
|
|
|
|
|
former |
Industriestraße 2-8, A-7000 Eisenstadt |
registered office |
|
|
|
|
|
former |
IZ NÖ-Süd , A-2355 Wiener Neudorf |
registered office |
|
|
|
|
|
former |
Bickfordstraße 6, A-7201 Neudörfl |
registered office |
|
|
|
|
|
former |
Isovoltastraße 1, A-8403 Lebring |
registered headquarters |
|
|
|
|
|
former |
Industriestraße 2-8, A-7000 Eisenstadt |
registered headquarters |
|
|
|
|
|
former |
IZ NÖ Süd Obj 1 Straße 3, A-2355 Wiener Neudorf |
registered headquarters |
|
|
|
|
|
former |
Bickfordstraße 6, A-7201 Neudörfl |
registered headquarters |
|
|
|
|
|
former |
Industriestraße 2-8, A-7000 Eisenstadt |
branch office |
|
|
|
|
|
former |
Isovoltastraße 1, A-8403 Lebring |
branch office |
|
Company name |
Postal code |
Stake in % |
KSV-number |
Companies House |
|
Shares in this company are
held by: |
||||
|
TIBAG BETEILIGUNGEN GmbH |
Opernring 19, A-1010 Wien |
50 % |
1.642.471 |
FN 319206 x |
|
CIAG-Beteiligungen GmbH |
Opernring 19, A-1010 Wien |
5 % |
1.642.472 |
FN 319209 a |
|
|
||||
|
Affiliated companies and
further participations: |
||||
|
ISOVOLTA AG |
IZ NÖ-Süd , A-2355 Wiener Neudorf |
|
57.347 |
FN 80592 v |
|
FunderMax GmbH |
Klagenfurterstraße 87-89, A-9300 St. Veit Glan |
|
74.295 |
FN 90081 y |
|
Constantia Industries AG |
Opernring 19, A-1010 Wien |
|
372.322 |
FN 88206 s |
|
Constantia Energy & Technical Components GmbH |
Opernring 19, A-1010 Wien |
|
1.388.457 |
FN 257513 x |
|
|
|
|
|
Banker |
Bank sort code |
Type of banking connection |
|
Raiffeisen Bank International AG, 1011 Wien |
31000 |
main bank connection |
|
Year of incorporation: |
2006 |
|
Date of registration: |
2006-11-25 |
|
Change of company name: |
||
|
From |
To |
Company name |
|
|
2008-05-06 |
FunderMax GmbH |
|
2008-05-06 |
2009-09-02 |
Isoflex GmbH |
|
2009-09-02 |
2010-06-17 |
ISOVOLTA GmbH |
|
2010-06-17 |
2010-12-14 |
ISOVOLTAIC GmbH |
|
2010-12-14 |
|
ISOVOLTAIC AG |
|
Change of legal form: |
||
|
From |
To |
Legal form |
|
|
2010-12-14 |
limited liability company |
|
2010-12-14 |
|
joint stock company |
|
Change in share capital: |
||
|
From |
To |
Capital |
|
|
2008-05-06 |
EUR 35.000,00 |
|
2008-05-06 |
2011-03-12 |
EUR 1.000.000,00 |
|
2011-03-12 |
2012-02-13 |
EUR 40.000.000,00 |
|
2012-02-13 |
|
EUR 5.000.000,00 |
|
Former executives: |
|||
|
From |
To |
Function |
Name |
|
2006-11-25 |
2008-01-03 |
manager |
Ing. Arnold Lackner |
|
2006-11-25 |
2008-04-02 |
manager |
Ing.Mag.Dr. Erlfried Taurer |
|
2006-11-25 |
2008-04-02 |
manager |
Dipl-Ing. Kurt Waniek |
|
2008-04-02 |
2009-06-18 |
manager |
Dipl-Ing. Gerhard Schwander |
|
2010-08-13 |
2010-12-14 |
manager |
Dipl-Ing. Thomas Rossegger |
|
2010-03-24 |
2010-12-14 |
manager |
Dipl-Ing. Manfred Schlögl |
|
2010-12-14 |
2012-02-11 |
member of the supervisory board |
Ing.Mag.Dr. Erlfried Taurer |
|
2010-12-14 |
2012-02-11 |
deputy chairman of the supervisory board |
MMag. Christian Benedict Maier |
|
2009-06-18 |
2010-08-13 |
manager |
MBA. Franz Moosbeckhofer |
|
2008-04-02 |
2010-03-24 |
manager |
Ing.Mag. Oliver Strass |
|
Former shareholders: |
|||
|
From |
To |
Function |
Name |
|
2006-11-25 |
2008-03-29 |
partner |
FunderMax GmbH |
|
2008-03-29 |
2010-08-13 |
partner |
ISOVOLTA AG |
|
2010-08-13 |
2010-10-12 |
partner |
Constantia Sports GmbH |
|
2010-10-12 |
2010-11-18 |
partner |
FunderMax GmbH |
|
2010-08-13 |
2010-12-14 |
partner |
TIBAG BETEILIGUNGEN GmbH |
|
2010-09-13 |
2010-12-14 |
partner |
CIAG-Beteiligungen GmbH |
|
Mergers: |
||
|
Date |
Function |
Name |
|
2010-11-18 |
merged with |
FunderMax GmbH |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.24 |
|
|
1 |
Rs. 101.92 |
|
Euro |
1 |
Rs. 80.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.