MIRA INFORM REPORT

 

Report Date :

17.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SCHWERMETALL HALBZEUGWERK GMBH & CO. KG

 

 

Registered Office :

Breiniger Berg 165, D 52223 Stolberg Post Box: 62 64, D 52211 Stolberg

 

 

Country :

Germany

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

30.07.1971

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Casting of steel

 

 

No of Employees :

256

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Germany

A1

A1

 

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

 

 

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

COMPANY NAME & ADDRESS

 

Schwermetall Halbzeugwerk GmbH & Co. KG

Breiniger Berg 165

D 52223 Stolberg

Post Box:

62 64, D 52211 Stolberg

Telephone:02402/7610

Telefax:  02402/761210

Homepage: www.schwermetall.de

E-mail:   info@schwermetall.de

 

 

Company Status

 

Active

 

 

VAT no         

 

DE121743091

 

 

Tax ID number      

 

202/5817/0069

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company details

 

 LEGAL FORM              Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:      1971

 Registered on:             30.07.1971

 Register of

 companies:                  Local court 52070 Aachen

 under:                          HRA 5700

 

 Total cap. contribution:                EUR         12,500,000.00

 

 Limited partner:

                      Aurubis Stolberg GmbH & Co. KG

                      Zweifaller Str. 150

                      D 52224 Stolberg

                      Post Box:

                      20 05, D 52206 Stolberg

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR         12,800,000.00

                      contribution:

                      Share:             EUR          6,250,000.00

                      Registered on: 26.11.1992

                      Reg. data: 52070 Aachen, HRA 5603

 Limited partner:

                      Wieland-Werke Aktiengesellschaft

                      Graf-Arco-Str. 36

                      D 89079 Ulm

                      Post Box:

                      42 40, D 89032 Ulm

                      Legal form: Public limited company

                      Share capital:     EUR         62,000,000.00

                      Share:             EUR          6,250,000.00

                      Registered on: 20.10.1910

                      Reg. data: 89073 Ulm, HRB 1256

 General partner:

                      Schwermetall Halbzeugwerk Gesellschaft mit

                      beschränkter Haftung

                      Breiniger Berg 165

                      D 52223 Stolberg

                      Post Box:

                      6264, D 52211 Stolberg

                      Legal form: Private limited company

                      Share capital:     EUR             52,000.00

                      Registered on: 07.05.1971

                      Reg. data: 52070 Aachen, HRB 11583

 

 Shareholder:

                      Aurubis Stolberg GmbH & Co. KG

                      Zweifaller Str. 150

                      D 52224 Stolberg

                      Post Box:

                      20 05, D 52206 Stolberg

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR         12,800,000.00

                      contribution:

                      Share:             EUR             26,000.00

                      Registered on: 26.11.1992

                      Reg. data: 52070 Aachen, HRA 5603

 Shareholder:

                      Wieland-Werke Aktiengesellschaft

                      Graf-Arco-Str. 36

                      D 89079 Ulm

                      Post Box:

                      42 40, D 89032 Ulm

                      Legal form: Public limited company

                      Share capital:     EUR         62,000,000.00

                      Share:             EUR             26,000.00

                      Registered on: 20.10.1910

                      Reg. data: 89073 Ulm, HRB 1256

 Manager:

                      Dirk Harten

                      Sierichstr. 88

                      D 22301 Hamburg

                      having sole power of representation

                      born: 19.07.1963

                      Profession: Fully qualified merchant

 Manager:

                      Dr. Ing. Rolf Bünten

                      D 52062 Aachen

                      authorized to jointly represent the company

                      born: 05.07.1964

 Proxy:

                      Dr. Stefan Kalz

                      Am Johanniterhof 12

                      D 52146 Würselen

                      authorized to jointly represent the company

                      born: 15.02.1969

                      Marital status: married

 Proxy:

                      Dr. Karsten Neumann

                      D 52062 Aachen

                      authorized to jointly represent the company

                      born: 26.03.1971

 

 

COMPANY HISTORY

 

 26.11.2003 - 30.11.2005            Schwermetall Halbzeugwerk GmbH & Co. KG

                                                Breiniger Berg 161

                                                D 52223 Stolberg

                                                Ltd partnership with priv. ltd. company

                                                as general partner

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 24520   Casting of steel

 

 

FINANCIAL INFORMATION

 

Payment experience:  within periods customary in this trade

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2011/2012

 

 

REAL ESTATE

 

 Type of ownership:                   proprietor

 Share:                                      100.00 %

 Address                                   Breiniger Berg 165

                                                D 52223 Stolberg

 

 Value at selling price:                 EUR         60,000,000.00

 Encumbrances:                           EUR         10,000,000.00

 

 Real Estate of:             Schwermetall Halbzeugwerk Gesellschaft mit

                                    beschränkter Haftung

 Type of ownership:       Tenant

 Address                       Breiniger Berg 165

                                    D 52223 Stolberg

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 SPARKASSE AACHEN, 52222 STOLBERG (RHLD.)

 Sort. code: 39050000

 BIC: AACSDE33XXX

 

 Further banks

 COMMERZBANK, 52201 STOLBERG (RHLD.)

 Sort. code: 39040013

 BIC: COBADEFFXXX

 SPARKASSE AACHEN, 52059 AACHEN

 Sort. code: 39050000

 BIC: AACSDE33XXX

 COMMERZBANK, 52003 AACHEN

 Sort. code: 39040013

 BIC: COBADEFFXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2011/2012          EUR        334,577,084.00

 Profit:              2011/2012          EUR         17,970,606.00

 Equipment:                              EUR          2,114,970.00

 Ac/ts receivable:                       EUR         37,756,088.00

 Liabilities:                            EUR         69,486,370.00

 Total numbers of vehicles:                                      4

 - Lorries:                                                      1

 - Passenger cars:                                               3

 Employees:                                                    256

 - thereof permanent staff:                                    244

 - Trainees:                                                    12

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.10.2011 - 30.09.2012

 Equity ratio [%]:                                   46.09

 Liquidity ratio:                                      0.76

 Return on total capital [%]:                    14.24

 

 Balance sheet ratios 01.10.2010 - 30.09.2011

 Equity ratio [%]:                                   40.41

 Liquidity ratio:                                      0.59

 Return on total capital [%]:                    7.67

 

 Balance sheet ratios 01.10.2009 - 30.09.2010

 Equity ratio [%]:                                   35.48

 Liquidity ratio:                                      0.49

 Return on total capital [%]:                    6.86

 

 Balance sheet ratios 01.10.2008 - 30.09.2009

 Equity ratio [%]:                                   46.65

 Liquidity ratio:                                      0.63

 Return on total capital [%]:                    11.41

 

 

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:                                                            01.10.2011 - 30.09.2012

 

 ASSETS                                  EUR        128,339,161.59

  Fixed assets                           EUR         29,408,734.49

   Intangible assets                     EUR            199,229.00

    Concessions, licences, rights        EUR            199,229.00

   Tangible assets                       EUR         29,209,505.49

    Land / similar rights                EUR         15,026,148.58

    Plant / machinery                    EUR         10,266,798.26

    Other tangible assets / fixtures and

    fittings                             EUR          2,114,970.00

    Advance payments made / construction

    in progress                          EUR          1,801,588.65

  Current assets                         EUR         98,771,263.10

   Stocks                                EUR         57,089,353.36

    Raw materials, consumables and

    supplies                             EUR         54,327,423.36

    Finished goods / work in progress    EUR          2,761,930.00

   Accounts receivable                   EUR         37,756,088.27

    Trade debtors                        EUR         31,533,416.35

    Amounts due from investee companies  EUR          2,163,403.31

    Other debtors and assets             EUR          4,059,268.61

   Liquid means                          EUR          3,925,821.47

  Remaining other assets                 EUR            159,164.00

   Accruals (assets)                     EUR            159,164.00

    thereof disagio                      EUR             64,863.41

 

 LIABILITIES                             EUR        128,339,161.59

  Shareholders' equity                   EUR         41,681,243.42

   Capital                               EUR         12,500,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR         12,500,000.00

   Reserves                              EUR         29,181,243.42

    Reserves for business partnerships   EUR         29,181,243.42

  Provisions                             EUR         17,171,548.49

   Pension provisions and comparable

   provisions                            EUR          2,303,754.00

   Provisions for taxes                  EUR          1,420,500.00

   Other / unspecified provisions        EUR         13,447,294.49

  Liabilities                            EUR         69,486,369.68

   Financial debts                       EUR         28,153,900.12

    Liabilities due to banks             EUR         28,153,900.12

   Other liabilities                     EUR         41,332,469.56

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          8,968,974.21

    Liabilities due to shareholders      EUR         18,640,843.27

    Liabilities due to investee companiesEUR          7,969,482.36

    Unspecified other liabilities        EUR          5,753,169.72

     thereof liabilities from tax /

     financial authorities               EUR            207,741.32

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        334,577,084.28

  Inventory change + own costs (+/-)     EUR             59,716.00

   Inventory change (+/-)                EUR             59,716.00

  Other operating income                 EUR          3,333,227.26

  Cost of materials                      EUR        276,096,666.73

   Raw materials and supplies, purchased

   goods                                 EUR        274,975,047.44

   Purchased services                    EUR          1,121,619.29

  Gross result (+/-)                     EUR         61,873,360.81

  Staff expenses                         EUR         17,715,904.86

   Wages and salaries                    EUR         14,838,366.61

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,877,538.25

  Total depreciation                     EUR          4,496,694.32

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          4,496,694.32

  Other operating expenses               EUR         15,734,057.28

  Operating result from continuing

  operations                             EUR         23,926,704.35

  Interest result (+/-)                  EUR         -3,272,214.15

   Interest and similar income           EUR             91,492.69

   Interest and similar expenses         EUR          3,363,706.84

  Financial result (+/-)                 EUR         -3,272,214.15

  Result from ordinary operations (+/-)  EUR         20,654,490.20

  Income tax / refund of income tax (+/-)EUR         -2,555,426.20

  Other taxes / refund of taxes          EUR           -128,458.29

  Tax (+/-)                              EUR         -2,683,884.49

  Annual surplus / annual deficit        EUR         17,970,605.71

 

 

 Type of balance sheet:                                                Company balance sheet

 

 Financial year:                                                            01.10.2010 - 30.09.2011

 

 ASSETS                                  EUR        118,573,220.79

  Fixed assets                           EUR         30,346,472.71

   Intangible assets                     EUR            211,304.00

    Concessions, licences, rights        EUR            211,304.00

   Tangible assets                       EUR         30,135,168.71

    Land / similar rights                EUR         15,392,923.03

    Plant / machinery                    EUR         12,061,399.26

    Other tangible assets / fixtures and

    fittings                             EUR          2,237,869.00

    Advance payments made / construction

    in progress                          EUR            442,977.42

  Current assets                         EUR         87,942,407.52

   Stocks                                EUR         57,202,742.33

    Raw materials, consumables and

    supplies                             EUR         54,500,528.33

    Finished goods / work in progress    EUR          2,702,214.00

   Accounts receivable                   EUR         30,401,418.55

    Trade debtors                        EUR         25,225,360.57

    Amounts due from investee companies  EUR          2,043,478.60

    Other debtors and assets             EUR          3,132,579.38

   Liquid means                          EUR            338,246.64

  Remaining other assets                 EUR            284,340.56

   Accruals (assets)                     EUR            284,340.56

    thereof disagio                      EUR             86,663.41

 

 LIABILITIES                             EUR        118,573,220.79

  Shareholders' equity                   EUR         39,496,678.53

   Capital                               EUR         12,500,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR         12,500,000.00

   Reserves                              EUR         26,996,678.53

  Provisions                             EUR         21,067,871.00

   Pension provisions and comparable

   provisions                            EUR          2,303,754.00

   Provisions for taxes                  EUR            790,204.00

   Other / unspecified provisions        EUR         17,973,913.00

  Liabilities                            EUR         58,008,671.26

   Financial debts                       EUR         29,799,824.96

    Liabilities due to banks             EUR         29,799,824.96

   Other liabilities                     EUR         28,208,846.30

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          4,824,421.83

    Liabilities due to shareholders      EUR          9,576,841.49

    Liabilities due to investee companiesEUR          5,955,635.60

    Unspecified other liabilities        EUR          7,851,947.38

     thereof liabilities from tax /

     financial authorities               EUR          1,684,283.54

 

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        342,273,027.75

  Inventory change + own costs (+/-)     EUR           -971,408.00

   Inventory change (+/-)                EUR           -971,408.00

  Other operating income                 EUR          3,414,743.37

  Cost of materials                      EUR        294,644,853.03

   Raw materials and supplies, purchased

   goods                                 EUR        292,534,038.96

   Purchased services                    EUR          2,110,814.07

  Gross result (+/-)                     EUR         50,071,510.09

  Staff expenses                         EUR         16,325,691.10

   Wages and salaries                    EUR         13,563,471.97

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,762,219.13

  Total depreciation                     EUR          4,693,293.32

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          4,693,293.32

  Other operating expenses               EUR         14,375,161.24

  Operating result from continuing

  operations                             EUR         14,677,364.43

  Interest result (+/-)                  EUR         -3,154,263.91

   Interest and similar income           EUR            156,454.85

   Interest and similar expenses         EUR          3,310,718.76

  Financial result (+/-)                 EUR         -3,154,263.91

  Result from ordinary operations (+/-)  EUR         11,523,100.52

  Extraordinary income                   EUR             62,954.15

  Extraordinary expenses                 EUR            129,327.00

  Extraordinary result (+/-)             EUR            -66,372.85

  Income tax / refund of income tax (+/-)EUR         -2,347,062.77

  Other taxes / refund of taxes          EUR           -225,100.01

  Tax (+/-)                              EUR         -2,572,162.78

  Annual surplus / annual deficit        EUR          8,884,564.89

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.41

UK Pound

1

Rs. 99.30

Euro

1

Rs. 79.00

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.