|
Report Date : |
05.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
WITTE PUMPS
& TECHNOLOGY GMBH |
|
|
|
|
Registered Office : |
Lise-Meitner-Allee 20, D 25436 Tornesch |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.07.2004 |
|
|
|
|
Com. Reg. No.: |
HRB 2426 EL |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in Providing Tailor
Made Gear Pump Solutions Subject product ranges includes: ·
Chemical Pumps ·
Magneticcoupling
Pumps ·
Booster Pumps ·
Melt Pumps ·
Discharge Pumps · Food Stuff Pumps |
|
|
|
|
No of Employees : |
45 |
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 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 |
Witte Pumps & Technology GmbH
Lise-Meitner-Allee
20
D 25436 Tornesch
Telephone: 04120/70659-0
Telefax: 04120/70659-49
Homepage: www.witte-pumps.de
E-mail: info@witte-pumps.de
active
DE814045417
LEGAL FORM Private limited company
Date of foundation: 14.07.2004
Begin of business
activities: 14.07.2004
Shareholders'
agreement: 14.07.2004
Registered on: 29.07.2004
Commercial Register: Local court
25421 Pinneberg
under: HRB 2426 EL
Share capital:
EUR 200,000.00
Dr. Sven Wieczorek
Herwigredder 80
D 22559 Hamburg
born: 28.01.1966
Share: EUR 200,000.00
Dr. Sven Wieczorek
Herwigredder 80
D 22559 Hamburg
born: 28.01.1966
Profession:
Businessman
Marital status:
unknown
Manager:
Mario Göpfert
D 25482 Appen
having sole
power of representation
born:
15.11.1963
Werner Heins
D 25373 Ellerhoop
authorized to
jointly represent the company
born: 12.01.1958
Further functions/participations of Dr. Sven
Wieczorek (Manager)
Shareholder:
Fienemann
TORPEDO GmbH
Friedrich-List-Str.
9
D 25451
Quickborn
Legal form:
Private limited company
Share
capital: EUR 100,000.00
Share: EUR 100,000.00
Registered
on: 06.12.2011
Reg.
data: 25421 Pinneberg, HRB 9651 PI
Manager:
Fienemann
TORPEDO GmbH
Friedrich-List-Str. 9
D 25451
Quickborn
Legal form:
Private limited company
Share
capital: EUR 100,000.00
Registered
on: 06.12.2011
Reg.
data: 25421 Pinneberg, HRB 9651 PI
14.07.2004 - 21.11.2005 WITTE
PUMPS AND TECHNOLOGY GMBH
Esinger
Steinweg 44a
D 25436
Uetersen
Private
limited company
21.11.2005 - 15.06.2014 Witte
Pumps & Technology GmbH
Esinger
Steinweg 44a
D 25436
Uetersen
Private
limited company
Engaged in Providing Tailor
Made Gear Pump Solutions
Subject product ranges includes:
·
Chemical Pumps
·
Magneticcoupling
Pumps
·
Booster Pumps
·
Melt Pumps
·
Discharge Pumps
·
Food Stuff Pumps
Payment experience: within
agreed terms
Negative information: We have no
negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Lise-Meitner-Allee 20
D 25436 Tornesch
Land register documents were not available.
SPARKASSE SÜDHOLSTEIN, 25436 UETERSEN
Sort. code: 23051030
BIC: NOLADE21SHO
VR BANK PINNEBERG, 25436 UETERSEN
Sort. code: 22191405
BIC: GENODEF1PIN
COMMERZBANK, 25429 UETERSEN
Sort. code: 22141628
BIC: COBADEFFXXX
Gross
profit or loss:2012
EUR 8,809,940.00
2013 EUR 8,900,000.00
Profit: 2012 EUR 1,842,482.00
further
business figures:
Equipment: EUR 144,250.00
Ac/ts
receivable: EUR 3,014,805.00
Liabilities: EUR 3,525,514.00
Employees:
45
-
Trainees:
3
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity
ratio [%]: 47.15
Liquidity
ratio: 1.04
Return
on total capital [%]: 22.48
Balance
sheet ratios 01.01.2011 - 31.12.2011
Equity
ratio [%]: 40.36
Liquidity
ratio: 2.02
Return
on total capital [%]: 27.14
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 36.71
Liquidity
ratio: 1.27
Return
on total capital [%]: 10.54
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity
ratio [%]: 26.58
Liquidity
ratio: 0.96
Return
on total capital [%]: 1.10
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 8,315,451.93
Fixed assets EUR 1,715,372.83
Intangible assets EUR 205,734.00
Concessions, licences, rights EUR 22,438.00
Goodwill EUR 120,696.00
Advance payments for intang. assets EUR 62,600.00
Tangible assets EUR 364,005.00
Land / similar rights EUR 117,544.00
Plant / machinery EUR 102,211.00
Other tangible assets / fixtures and
fittings EUR 144,250.00
Financial assets EUR 1,145,633.83
Shares in participations /
subsidiaries and the like EUR 249,800.00
Shares in related companies EUR 249,700.00
Shares in cooperatives EUR 100.00
Other loans EUR 895,833.83
Current assets EUR 6,563,813.55
Stocks EUR 3,325,833.12
Raw materials, consumables and
supplies EUR 800.00
Finished goods / work in progress EUR
3,325,033.12
Accounts receivable EUR 3,014,805.37
Trade debtors EUR 2,574,637.42
Other debtors and assets EUR 440,167.95
Liquid means EUR 223,175.06
Remaining other assets EUR 36,265.55
Accruals (assets) EUR 36,265.55
thereof disagio EUR 9,000.00
LIABILITIES EUR 8,315,451.93
Shareholders' equity EUR 3,581,533.87
Capital EUR 200,000.00
Subscribed capital (share capital) EUR 200,000.00
Balance sheet profit/loss (+/-) EUR 3,381,533.87
Profit / loss brought forward EUR 1,539,051.67
Annual surplus / annual deficit EUR 1,842,482.20
Provisions EUR 1,208,404.29
Pension provisions and comparable
provisions
EUR 283,162.00
Provisions for taxes EUR 479,481.62
Other / unspecified provisions EUR 445,760.67
Liabilities EUR 3,525,513.77
thereof total due to shareholders EUR 403,000.00
Financial debts EUR 535,299.51
Liabilities due to banks EUR 535,299.51
Other liabilities EUR 2,990,214.26
Trade creditors (for IAS incl. bills
of exchange) EUR 882,692.29
Liabilities from received advance
payments EUR 728,014.86
Liabililties due to related
companiesEUR 298,807.23
Unspecified other liabilities EUR 1,080,699.88
thereof liabilities from tax /
financial authorities EUR 219,000.00
thereof liabilities from social
security EUR 14,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 8,809,940.25
Staff expenses EUR 2,758,276.03
Wages and salaries EUR 2,398,664.72
Social security contributions and
expenses for pension plans and
benefits EUR 359,611.31
Total depreciation EUR 99,788.28
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 99,788.28
Other operating expenses EUR 3,371,408.88
Operating result from continuing
operations EUR 2,580,467.06
Interest result (+/-) EUR -55,733.08
Interest and similar income EUR 18,347.02
Interest and similar expenses EUR 74,080.10
Other financial result EUR 30,655.78
Income from securities and loans from
financial assets EUR 30,655.78
Financial result (+/-) EUR -25,077.30
Result from ordinary operations (+/-) EUR
2,555,389.76
Income tax / refund of income tax
(+/-)EUR -711,710.56
Other taxes / refund of taxes EUR -1,197.00
Tax (+/-) EUR -712,907.56
Annual surplus / annual deficit EUR 1,842,482.20
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 6,213,074.89
Fixed assets EUR 354,321.00
Intangible assets EUR 155,021.00
Other / unspecified intangible
assetsEUR 155,021.00
Tangible assets EUR 199,200.00
Other / unspecified tangible assets EUR
199,200.00
Financial assets EUR 100.00
Other / unspecified financial assets
EUR 100.00
Current assets EUR 5,794,878.31
Stocks EUR 1,841,729.07
Accounts receivable EUR 2,277,832.30
Other debtors and assets EUR 2,277,832.30
Liquid means EUR 1,675,316.94
Remaining other assets EUR 63,875.58
Accruals (assets) EUR 63,875.58
LIABILITIES EUR 6,213,074.89
Shareholders' equity EUR 2,089,051.67
Capital EUR 200,000.00
Subscribed capital (share capital) EUR 200,000.00
Balance sheet profit/loss (+/-) EUR 1,889,051.67
Balance sheet profit / loss EUR
1,889,051.67
Provisions EUR 858,208.01
Liabilities EUR 3,265,815.21
Other liabilities EUR 3,265,815.21
Unspecified other liabilities EUR
3,265,815.21
Guarantees and other commitments EUR 1,151,992.23
Guarantees / warranties EUR 1,151,992.23
Warranties EUR 1,151,992.23
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 8,278,291.11
Staff expenses EUR 2,580,582.65
Wages and salaries EUR 2,008,801.57
Social security contributions and
expenses for pension plans and
benefits EUR 571,781.08
Total depreciation EUR 82,180.39
Other operating expenses EUR 3,173,665.64
Operating result from continuing
operations EUR 2,441,862.43
Interest result (+/-) EUR -56,656.07
Interest and similar income EUR 3,958.30
Interest and similar expenses EUR 60,614.37
Financial result (+/-) EUR -56,656.07
Result from ordinary operations (+/-) EUR
2,385,206.36
Income tax / refund of income tax
(+/-)EUR -718,668.55
Other taxes / refund of taxes EUR -1,202.00
Tax (+/-) EUR -719,870.55
Annual surplus / annual deficit EUR 1,665,335.81
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.88 |
|
|
1 |
Rs.97.02 |
|
Euro |
1 |
Rs.76.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.