|
Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
WILLAX GMBH BEKLEIDUNGSWERK |
|
|
|
|
Registered Office : |
Max-Prinstner-Str. 20, D 92339
Beilngries |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
20.10.1982 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture
of workwear ·
Wholesale
of clothing and footwear ·
Retail
sale of clothing |
|
|
|
|
No of Employees : |
75 |
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 : |
Slow but correct |
|
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
WILLAX GMBH BEKLEIDUNGSWERK
Company Status: active
Max-Prinstner-Str. 20
D
92339 Beilngries
Telephone:08461/654-0
Telefax:
08461/654-225
Homepage: www.willax.com
E-mail:
info@willax.com
VAT
no.: DE128596295
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 20.10.1982
Shareholders'
agreement: 20.10.1982
Registered on: 10.01.1983
Commercial Register: Local court 85049 Ingolstadt
under: HRB 423
Share capital: EUR 600,000.00
Shareholder:
Hans-Erhard Willax
Kupferschmiedgasse 2b
D 92334 Berching
born: 09.03.1968 in Berching
Share: EUR 600,000.00
Manager:
Hans-Erhard Willax
Kupferschmiedgasse 2b
D 92334 Berching
having sole power of representation
born: 09.03.1968 in
Berching
Marital status: married
Proxy:
Christof Willax
D 92334 Berching
having sole power of
representation
born: 13.05.1973 in
Berching
Further functions/participations of
Hans-Erhard Willax (Manager)
Proprietor:
Bertex Berchinger
Textielvertrieb Willax &
Co. Inh. Hans Willax e.K.
Pettenkoferplatz 2
D 92334 Berching
Legal form: Sole
proprietorship
Registered
on: 10.06.2002
Reg. data:
90402 Nürnberg, HRA 1624
Limited partner:
WHE
Grundstücksverwaltungsgesellschaft mbH &
Co. Objekt
Max-Prinstner-Straße KG
Max-Prinstner-Str. 20
D 92339 Beilngries
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 7,771.64
contribution:
Share: EUR 1,554.33
Registered
on: 01.06.2005
Reg. data: 85049 Ingolstadt, HRA 1742
Shareholder:
WHE Grundstücksverwaltungsgesellschaft
mbH
Max-Prinstner-Str. 20
D 92339 Beilngries
Legal form: Private
limited company
Share capital: EUR 26,000.00
Share: EUR 26,000.00
Registered
on: 25.05.2005
Reg. data: 85049 Ingolstadt, HRB 3768
Manager:
WHE Grundstücksverwaltungsgesellschaft
mbH
Max-Prinstner-Str. 20
D 92339 Beilngries
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 25.05.2005
Reg. data: 85049 Ingolstadt, HRB 3768
20.10.1982 - 10.01.1983 Hans Willax
Max-Prinstner-Str. 20
D 92339 Beilngries
Unregistered
commercial enterprise
09.06.2006 - 17.01.2012 Manager
Hans Willax
D 92334 Berching
Main
industrial sector
1412
Manufacture of workwear
4642
Wholesale of clothing and footwear
47710
Retail sale of clothing
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Max-Prinstner-Str. 20
D 92339 Beilngries
Real Estate of: Hans-Erhard Willax
Type of ownership: proprietor
Share: 100.00 %
Address Kupferschmiedgasse 2b
D 92334 Berching
Land register documents were not available.
SPARKASSE EICHSTÄTT, 92339 BEILNGRIES
Sort. code: 72151340
BIC: BYLADEM1EIS
RAIFFEISENBANK BEILNGRIES, 92339 BEILNGRIES
Sort.
code: 72169380
BIC: GENODEF1BLN
UNICREDIT BANK - HYPOVEREINSBANK, 85017
INGOLSTADT, DONAU
Sort. code: 72120078
BIC: HYVEDEMM426
Gross profit or loss: 2012
EUR 4,141,981.00
2013 EUR 4,116,000.00
Profit: 2012 EUR 72,809.00
2013 EUR -100,000.00
further business figures:
Equipment: EUR 117,136.00
Ac/ts receivable: EUR 2,527,094.00
Liabilities: EUR 4,132,287.00
Total numbers of vehicles: 15
-
Lorries: 1
-
Passenger cars: 14
Employees:
75
-
Part-time employees: 15
-
Trainees:
1
-
Temporary workers: 10
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 36.05
Liquidity ratio: 0.70
Return on total capital [%]: 0.87
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 31.18
Liquidity ratio: 0.48
Return on total capital [%]: 3.17
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 37.61
Liquidity ratio: 0.90
Return on total capital [%]: 3.22
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 38.91
Liquidity ratio: 0.91
Return on total capital [%]: 0.25
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 8,386,130.72
Fixed
assets EUR 300,723.00
Intangible assets
EUR 22,865.00
Tangible assets
EUR 199,858.00
Land / similar rights
EUR 45.00
Plant / machinery
EUR 82,677.00
Other tangible assets / fixtures and
fittings
EUR 117,136.00
Financial assets
EUR 78,000.00
Shares
in participations /
subsidiaries and the like
EUR 53,000.00
Shares in investee companies
EUR 53,000.00
Securities included in fixed assets
EUR 25,000.00
Current assets EUR 8,064,646.72
Stocks
EUR 5,005,792.57
Accounts receivable
EUR 2,527,093.71
Liquid means
EUR 531,760.44
Remaining other assets
EUR 20,761.00
Accruals (assets)
EUR 20,761.00
LIABILITIES EUR 8,386,130.72
Shareholders' equity
EUR 3,030,563.80
Capital EUR 600,000.00
Subscribed capital (share capital)
EUR 600,000.00
Reserves
EUR 1,860,457.34
Retained earnings / revenue reserves EUR 1,860,457.34
Balance sheet profit/loss (+/-)
EUR 570,106.46
Profit / loss brought forward
EUR 497,297.70
Annual surplus / annual deficit
EUR 72,808.76
Provisions
EUR 1,223,279.74
Liabilities
EUR 4,132,287.18
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 4,141,981.05
Staff expenses EUR 2,352,478.20
Wages and salaries
EUR 1,893,779.42
Social security contributions and
expenses for pension plans and
benefits
EUR 458,698.78
Total
depreciation EUR 91,633.33
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 91,633.33
Other operating expenses
EUR 1,422,848.18
Operating result from continuing
operations
EUR 275,021.34
Result from participating interests
(+/-)
EUR 1,530.00
Expenses / income from participations EUR 1,530.00
Income from related companies
EUR 1,530.00
Interest result (+/-)
EUR -161,989.77
Interest and similar income
EUR 16,359.20
Interest and similar expenses
EUR 178,348.97
Financial result (+/-)
EUR -160,459.77
Result from ordinary operations (+/-)
EUR 114,561.57
Income tax / refund of income tax (+/-)EUR -37,405.96
Other
taxes / refund of taxes EUR -4,346.85
Tax
(+/-)
EUR -41,752.81
Annual surplus / annual deficit
EUR 72,808.76
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 9,444,566.06
Fixed assets
EUR 197,656.00
Intangible assets
EUR 37,088.00
Other / unspecified intangible assetsEUR 37,088.00
Tangible assets
EUR 127,568.00
Land / similar rights
EUR 223.00
Plant / machinery
EUR 13,964.00
Other tangible assets / fixtures and
fittings
EUR 113,381.00
Financial assets
EUR 33,000.00
Shares in participations /
subsidiaries and the like
EUR 33,000.00
Shares in investee companies
EUR 33,000.00
Current assets
EUR 9,226,261.06
Stocks
EUR 6,680,504.49
Accounts receivable EUR 2,536,280.90
Other debtors and assets
EUR 2,536,280.90
Liquid means
EUR 9,475.67
Remaining other assets
EUR 20,649.00
Accruals (assets)
EUR 20,649.00
LIABILITIES EUR 9,444,566.06
Shareholders' equity
EUR 2,957,755.04
Capital
EUR 600,000.00
Subscribed capital (share capital) EUR 600,000.00
Reserves
EUR 1,860,457.34
Retained earnings / revenue reserves EUR 1,860,457.34
Balance sheet profit/loss (+/-)
EUR 497,297.70
Profit / loss brought forward
EUR 198,162.49
Annual surplus / annual deficit
EUR 299,135.21
Provisions
EUR 1,192,442.93
Liabilities
EUR 5,294,368.09
Other liabilities
EUR 5,294,368.09
Unspecified other liabilities
EUR 5,294,368.09
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-) EUR 4,086,815.24
Staff expenses
EUR 2,247,631.95
Wages and salaries
EUR 1,825,525.03
Social security contributions and
expenses for pension plans and
benefits
EUR 422,106.92
Total depreciation
EUR 52,254.37
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 52,254.37
Other operating expenses
EUR 1,269,550.47
Operating result from continuing
operations
EUR 517,378.45
Result from participating interests
(+/-) EUR 3,049.00
Expenses / income from participations EUR 3,049.00
Income from related companies
EUR 3,049.00
Interest result (+/-)
EUR -102,002.47
Interest and similar income
EUR 64,404.43
Interest and similar expenses
EUR 166,406.90
Financial result (+/-)
EUR -98,953.47
Result from ordinary operations (+/-)
EUR 418,424.98
Income
tax / refund of income tax (+/-)EUR
-114,234.37
Other taxes / refund of taxes
EUR -5,055.40
Tax
(+/-)
EUR -119,289.77
Annual surplus / annual deficit
EUR 299,135.21
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.