MIRA INFORM REPORT

 

 

Report Date :

18.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SENVION SE

 

 

Registered Office :

Überseering 10 (Oval Office) D 22297 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

13.04.2000

 

 

Legal Form :

European Company (SE)

 

 

Line of Business :
  • Manufacture of pumps and compressors

·         Engineering activities in the field of technical sectoral planning and engineering design

 

 

No of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – 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

 

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, Germ

 

Source : CIA

Company name and address

 

SENVION SE

 

 Company Status:         Active

                                    Überseering 10 (Oval Office )

                                    D 22297 Hamburg

 Telephone:                   040/5555090-0

 Telefax:                       040/5555090-3999

  Homepage:                 www.senvion.com

  E-mail:                        info@senvion.com

 

 VAT no.:                      DE214727896

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 LEGAL FORM              European Company (SE)

 Date of foundation:      13.04.2000

 Registered on:             15.06.2011

 Commercial Register:   Local court 20355 Hamburg

 under:                          HRB 118644

 

 

Share capital          

 

EUR          9,220,179.00

 

 

Member of the Board of Directors

 

                      Lars Rytter

                      D 22335 Hamburg

                      born: 01.04.1966 in Aalborg

                      Profession: Fully qualified merchant

                      Nationality: danish

                      Marital status: unknown

 

 Member of the Board of Directors:

                      Andreas Nauen

                      DK  Brande

                      authorized to jointly represent the company

                      born: 02.07.1964 in Krefeld

                      Profession: Businessman

                      Nationality: danish

                      Marital status: unknown

 

 Member of the Board of Directors:

                      Russel Burton Stoddart

                      D 22297 Hamburg

                      born: 18.06.1965 in Liverpool

 

 Member of the Board of Directors:

                      Alex Joseph De Ryck

                      B  Antwerpen

                      born: 05.05.1959

                      Nationality: Belgian

 

 President of the Supervisory Board:

                      Tulsi Ranchhod Tanti

                      Orion Satelite Towers Flat No.

                      501 Sector 81 Koregaon Park

                      IND PUNE 411001 Maharashtra

                      born: 02.02.1958

                      Profession: Businessman

 

 Vice-president of the Supervisory Board:

                      Frans Visscher

                      NL - Bergen

                      Nationality: Indian

                      Marital status: unknown

 

 Member of the Supervisory Board:

                      Kritikant Jasvantrai Vagadia

                      IND  Pune

                      Nationality: Indian

 

 Member of the Supervisory Board:

                      Thomas Rex

                      D 16230 Breydin

                      Marital status: unknown

 

 Member of the Supervisory Board:

                      Bernhard Band

                      D 25782 Tellingstedt

                      Marital status: unknown

 

 Member of the Supervisory Board:

                      Ravi Uppal

                      IND  New Delhi

                      Nationality: Indian

 Proxy:

                      Bernhard Grevesmühl

                      Etzestr. 24

                      D 22335 Hamburg

                      authorized to jointly represent the company

                      born: 05.05.1961

 Proxy:

                      Martina Johanna Schulz

                      Schubertstraße 25

                      D 16225 Eberswalde

                      born: 02.11.1957

                      née: Gaebel

                      Profession: Educationalist

                      Marital status: widowed

 Proxy:

                      Jürgen Norbert Giese

                      Im Allhorn 13

                      D 22359 Hamburg

                      authorized to jointly represent the company

                      born: 19.05.1960

                      Profession: Fully qualified geographer

                      Marital status: unknown

 Proxy:

                      Christian Müller

                      D 24796 Bovenau

                      authorized to jointly represent the company

                      born: 05.06.1965

                      Profession: graduate engineer

                      Marital status: married

 Proxy:

                      Kai Werner Portugall

                      Scharpenberg 94a

                      D 45468 Mülheim

                      authorized to jointly represent the company

                      born: 08.03.1962

 Proxy:

                      Jörg Zeumer

                      D 24768 Rendsburg

                      born: 09.07.1968

 Proxy:

                      Dietmar Schneider

                      Ahornweg 18

                      D 23858 Reinfeld

                      authorized to jointly represent the company

                      born: 09.05.1961

 Proxy:

                      Susanne Charlotte Ochernal

                      D 24119 Kronshagen

                      authorized to jointly represent the company

                      born: 31.07.1971

 Proxy:

                      Klaus Köncke

                      D 47798 Krefeld

                      authorized to jointly represent the company

                      born: 25.03.1959

 Proxy:

                      Paulo Fernando Gaspar Soares

                      D 48155 Münster

                      authorized to jointly represent the company

                      born: 27.08.1965

 Proxy:

                      Thorsten Meyer

                      D 22297 Hamburg

                      authorized to jointly represent the company

                      born: 02.09.1973

 Proxy:

                      Frank Heinz

                      D 20095 Hamburg

                      authorized to jointly represent the company

                      born: 05.08.1970

 Proxy:

                      Jamal Choukri

                      D 24837 Schleswig

                      authorized to jointly represent the company

                      born: 10.05.1972

 Proxy:

                      Dr. Martin Knops

                      D 24787 Fockbek

                      authorized to jointly represent the company

                      born: 12.07.1972

 Proxy:

                      Dr. Livia Musso

                      D 22297 Hamburg

                      authorized to jointly represent the company

                      born: 06.04.1973

 Proxy:

                      Ramesh Gopalakrishnan

                      D 22297 Hamburg

                      authorized to jointly represent the company

                      born: 28.09.1967

 Proxy:

                      Jan Vollrath

                      D 25746 Heide

                      authorized to jointly represent the company

                      born: 07.12.1966

 Proxy:

                      Kristina Godau

                      D 22297 Hamburg

                      authorized to jointly represent the company

                      born: 02.03.1975

 Proxy:

                      Manav Sharma

                      D 22297 Hamburg

                      authorized to jointly represent the company

                      born: 29.03.1981

 Proxy:

                      Richard Alan Eggleston

                      Halmyre Loan,

                      GB  Romannobridge,Scottish Borders

                      authorized to jointly represent the company

                      born: 24.09.1958

                      Nationality: British

 

 

 COMPANY HISTORY

 

 13.04.2000 - 31.07.2001  REpower AG

                          Flughafenstr. 54

                          D 22335 Hamburg

                          Public limited company

 01.08.2001 - 30.09.2003  REpower Systems AG

                          Flughafenstr. 54

                          D 22335 Hamburg

                          Public limited company

 01.10.2003 - 31.12.2007  REpower Systems AG

                          Alsterkrugchaussee 378

                          D 22335 Hamburg

                          Public limited company

 01.01.2008 - 14.06.2011  REpower Systems AG (HRB 75543, AG

                          Hamburg)

                          Überseering 10

                          D 22297 Hamburg

                          Public limited company

 15.06.2011 - 20.01.2014  REpower Systems SE

                          Überseering 10

                          D 22297 Hamburg

                          European Company (SE)

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 10.07.2012 - 02.10.2014  Member of the Board of Directors

                          Marcus Antonius Wassenberg

                          D 22297 Hamburg

 24.07.2013 - 14.04.2014  Member of the Board of Directors

                          Vinodrai Ranchhodbhai Tanti

                          IND Pune

 12.01.2010 - 08.05.2013  Member of the Board of Directors

                          Matthias Albert Harmen Schubert

                          D 24768 Rendsburg

 18.10.2011 - 11.09.2012  Vice-president of the Supervisory Board

                          Girish R. Tanti

                          IND Pune

 09.11.2010 - 27.06.2012  Member of the Board of Directors

                          Gregor Gnädig

                          CH Zürich

 16.02.2010 - 27.06.2012  Member of the Board of Directors

                          Derrick George Noe

                          D 40667 Meerbusch

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 

28130   Manufacture of pumps and compressors n.e.c.

35112   Production of electricity with external procurement for

distribution

46692   Wholesale of other machinery

71122   Engineering activities in the field of technical sectoral

planning andengineering design

 

 Development, production and distribution of wind turbine

 generator systems.

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      Senvion SE

                      Kruger Damm 11

                      D 16230 Breydin

                      TEL.: 033451/55861000

                      FAX.: 033451/55861037

 Branch:

                      Senvion SE

                      Rödemishallig

                      D 25813 Husum

                      TEL.: 04841/662800

                      FAX.: 04841/662888

 Branch:

                      Senvion SE

                      Franz-Lenz-Str. 1

                      D 49084 Osnabrück

 Branch:

                      Senvion SE

                      Albert-Betz-Str. 1

                      D 24783 Osterrönfeld

                      TEL.: 04331/13139-000

                      FAX.: 04331/13139-999

 Branch:

                      Senvion SE

                      Labradorstr. 18-22

                      D 27572 Bremerhaven

 Branch:

                      Senvion SE

                      Heegermühler Str. 64

                      D 16225 Eberswalde

                      TEL.: 03334/275960000

                      FAX.: 03334/27596132

 

 

PARTICIPATIONS

 

 Limited partner:

                      Senvion Investitions- und Projektierungs

                      GmbH & Co. KG

                      Albert-Betz-Str. 1

                      D 24783 Osterrönfeld

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Company Status: active

                      Total cap.         EUR              1,000.00

                      contribution:

                      Share:             EUR              1,000.00

                      Reg. data:  04.11.2003

                                  Local court 24114 Kiel

                                  HRA 1787 RD

 Shareholder:

                      PowerBlades GmbH

                      Seewindstr. 4

                      D 27572 Bremerhaven

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            625,000.00

                      Share:             EUR            625,000.00

                      Reg. data:  25.03.2008

                                  Local court 28195 Bremen

                                  HRB 5254 BHV

 Shareholder:

                      Windpark Finsterwalde GmbH

                      Nobelstr. 11

                      D 03238 Massen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             51,129.19

                      Share:             EUR             15,338.76

                      Reg. data:  02.06.1997

                                  Local court 03044 Cottbus

                                  HRB 4791 CB

 Shareholder:

                      Senvion Betriebs- und

                      Beteiligungsgesellschaft mbH

                      Albert-Betz-Str. 1

                      D 24783 Osterrönfeld

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,600.00

                      Share:             EUR             25,600.00

                      Reg. data:  24.08.1998

                                  Local court 24114 Kiel

                                  HRB 1955 RD

 Shareholder:

                      WEL Windenergie Logistik GmbH

                      Überseering 10 ( Oval Office )

                      D 22297 Hamburg

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  06.02.2012

                                  Local court 20355 Hamburg

                                  HRB 121748

 Shareholder:

                      RETC Renewable Energy Technology Centre GmbH

                      Überseering 10

                      D 22297 Hamburg

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  23.08.2007

                                  Local court 20355 Hamburg

                                  HRB 102156

 Shareholder:

                      Senvion Deutschland GmbH

                      Überseering 10 ( Oval Office )

                      D 22297 Hamburg

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  17.07.2009

                                  Local court 20355 Hamburg

                                  HRB 110242

 

 

 Foreign participations

                                                               

 REpower España S.L., Madrid, Spanien                       100,00

 REpower Italia S.r.l., Mailand, Italien                    100,00

 REpower S.A.S., Courbevoie, Frankreich                     100,00

 RECA Holdings Pty Ltd. (vormals: REpower Australia Pty Ltd.),   

 Melbourne, Australien                                      100,00

 REpower Australia Pty Ltd. (vormals: Renewable Energy Contractors

 Australia Pty Ltd.), Melbourne, Australien                 100,00

 REpower UK Ltd., Edinburgh, Großbritannien                 100,00

 REpower USA Corp., Denver, U.S.A.                          100,00

 REpower Benelux b.v.b.a., Ostende, Belgien                 100,00

 REpower Wind Systems Trading, Peking, Volksrepublik China  100,00

 REpower Systems Inc., Montreal, Kanada                     100,00

 PowerBlades S.A., Vagos, Portugal                          100,00

 REpower North (China) Ltd., Baotou, Volksrepublik China     53,87

 REpower Systems Northern Europe A/S, Aarhus, Dänemark      100,00

 REpower Portugal Sistemas Eólicos S.A., Oliveira de Frades,     

 Portugal                                                   100,00

 REpower Systems Polska, Sp.z o.o., Warschau, Polen         100,00

 REpower Systems Scandinavia AB, Stockholm, Schweden        100,00

 RiaBlades S.A., Vagos, Portugal                              3,00

 Ventipower S.A., Oliveira de Frades, Portugal                3,00

 REpower Systems India Ltd. , Pune, Indien                  100,00

 REpower Systems DTE Romania SRL, Bukarest, Rumänien        100,00

 PowerBlades Inc, Québec, Kanada                            100,00

 Ventinveste S.A., Lissabon, Portugal                         1,00

 

 

Payment experience

 

Slow but correct

 

 

Negative information:Negative information is known to us.

 

 

 Balance sheet year

 

2012/2013

 

 

 Debt collection:

             Amount      last entry:

            1               19.11.2014

            EUR           2,653.02

 

 

REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Überseering 10 ( Oval Office )

                         D 22297 Hamburg

 

 Land register documents were not available.

 

 

 BANKERS

 

 COMMERZBANK, 20454 HAMBURG

 Sort. code: 20040000

 BIC: COBADEHHXXX

 UNICREDIT BANK - HYPOVEREINSBANK, 24768 RENDSBURG

 Sort. code: 20030000

 BIC: HYVEDEMM300

 

 

 FINANCIAL FIGURES

 

 Turnover:            2011/2012          EUR      1,169,020,722.00

                      2012/2013          EUR      1,884,285,153.00

 Profit:              2011/2012          EUR         19,370,876.00

                      2012/2013          EUR        -30,315,560.00

 further business figures:

 Equipment:                              EUR         15,582,732.00

 Ac/ts receivable:                       EUR        296,106,423.00

 Liabilities:                            EUR        657,873,233.00

 Employees:                                                  1,288

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.04.2012 - 31.03.2013

 Equity ratio [%]:                 28.64

 Liquidity ratio:                   0.69

 Return on total capital [%]:      -2.34

 

 Balance sheet ratios 01.04.2011 - 31.03.2012

 Equity ratio [%]:                 29.14

 Liquidity ratio:                   0.62

 Return on total capital [%]:       1.41

 

 Balance sheet ratios 01.04.2010 - 31.03.2011

 Equity ratio [%]:                 32.68

 Liquidity ratio:                   0.61

 Return on total capital [%]:       0.80

 

 Balance sheet ratios 01.04.2009 - 31.03.2010

 Equity ratio [%]:                 28.54

 Liquidity ratio:                   0.97

 Return on total capital [%]:       2.33

 

 

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:      01.04.2012 - 31.03.2013

 

 ASSETS                                  EUR      1,297,034,114.57

  Fixed assets                           EUR        246,871,310.43

   Intangible assets                     EUR          4,833,255.00

    Concessions, licences, rights        EUR          4,833,255.00

   Tangible assets                       EUR        139,894,051.36

    Land / similar rights                EUR         71,981,421.88

    Plant / machinery                    EUR         47,975,638.00

    Other tangible assets / fixtures and

    fittings                             EUR         15,582,732.00

    Advance payments made / construction

    in progress                          EUR          4,354,259.48

   Financial assets                      EUR        102,144,004.07

    Shares in participations /

    subsidiaries and the like            EUR         36,431,309.91

     Shares in related companies         EUR         36,430,808.91

     Shares in investee companies        EUR                501.00

    Loans to participations /

    subsidiaries and the like            EUR         65,712,694.16

     Loans to related companies          EUR         65,712,694.16

  Current assets                         EUR      1,030,780,980.03

   Stocks                                EUR        504,760,609.34

    Raw materials, consumables and

    supplies                             EUR        265,116,596.52

    Finished goods / work in progress    EUR        193,798,961.54

    Advance payments made                EUR         45,845,051.28

   Accounts receivable                   EUR        296,106,422.95

    Trade debtors                        EUR        191,934,351.48

    Amounts due from related companies   EUR         35,287,628.89

    Other debtors and assets             EUR         68,884,442.58

   Liquid means                          EUR        229,913,947.74

  Remaining other assets                 EUR         19,381,824.11

   Accruals (assets)                     EUR         19,381,824.11

 

 LIABILITIES                             EUR      1,297,034,114.57

  Shareholders' equity                   EUR        371,429,693.94

   Capital                               EUR          9,220,179.00

    Subscribed capital (share capital)   EUR          9,220,179.00

   Reserves                              EUR        291,215,200.15

    Capital reserves                     EUR        291,215,200.15

   Balance sheet profit/loss (+/-)       EUR         70,994,314.79

    Balance sheet profit / loss          EUR         70,994,314.79

  Provisions                             EUR        247,334,287.21

   Provisions for taxes                  EUR          1,013,962.44

   Other / unspecified provisions        EUR        246,320,324.77

  Liabilities                            EUR        657,873,233.05

   Financial debts                       EUR         30,580,150.07

    Liabilities due to banks             EUR         30,580,150.07

   Other liabilities                     EUR        627,293,082.98

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR        177,200,194.24

    Liabilities from received advance

    payments                             EUR        385,517,182.23

    Liabililties due to related companiesEUR         56,170,886.15

    Unspecified other liabilities        EUR          8,404,820.36

     thereof liabilities from tax /

     financial authorities               EUR          2,380,560.38

     thereof liabilities from social

     security                            EUR              6,491.26

  Other liabilities                      EUR         20,396,900.37

   Deferrals (liabilities)               EUR         20,396,900.37

  Guarantees and other commitments       EUR         13,387,000.00

   Guarantees / warranties               EUR         13,387,000.00

    Guarantees                           EUR         13,387,000.00

 

 

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

 

  Sales                                  EUR      1,884,285,152.70

  Inventory change + own costs (+/-)     EUR        252,784,126.90

   Inventory change (+/-)                EUR        252,784,126.90

  Other operating income                 EUR         76,151,304.11

  Cost of materials                      EUR      1,895,568,280.34

   Raw materials and supplies, purchased

   goods                                 EUR      1,458,153,135.61

   Purchased services                    EUR        437,415,144.73

  Gross result (+/-)                     EUR        317,652,303.37

  Staff expenses                         EUR        101,610,840.48

   Wages and salaries                    EUR         85,993,196.85

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         15,617,643.63

  Total depreciation                     EUR         23,463,623.47

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         23,463,623.47

  Other operating expenses               EUR        192,514,901.91

  Operating result from continuing

  operations                             EUR             62,937.51

  Result from participating interests

  (+/-)                                  EUR          2,186,467.83

   Expenses / income from participations EUR          2,186,467.83

    Income from related companies        EUR          2,186,467.83

  Expenses for the transfer of losses    EUR         24,057,238.11

  Interest result (+/-)                  EUR        -13,141,512.28

   Interest and similar income           EUR          2,339,827.72

   Interest and similar expenses         EUR         15,481,340.00

  Other financial result                 EUR          3,295,903.42

   Income from securities and loans from

   financial assets                      EUR          3,499,104.68

    thereof related companies            EUR          3,499,104.68

   Depreciation on financial assets and

   marketable securities                 EUR            203,201.26

  Financial result (+/-)                 EUR        -31,716,379.14

  Result from ordinary operations (+/-)  EUR        -31,653,441.63

  Income tax / refund of income tax (+/-)EUR          1,465,239.02

  Other taxes / refund of taxes          EUR           -127,356.99

  Tax (+/-)                              EUR          1,337,882.03

  Annual surplus / annual deficit        EUR        -30,315,559.60

 

 Type of balance sheet:               Company balance sheet

 

 Financial year:      01.04.2011 - 31.03.2012

 

 ASSETS                                  EUR      1,378,639,031.00

  Fixed assets                           EUR        206,868,149.00

   Intangible assets                     EUR          3,331,726.00

    Concessions, licences, rights        EUR          3,331,726.00

   Tangible assets                       EUR        138,801,601.00

    Land / similar rights                EUR         65,060,956.00

    Plant / machinery                    EUR         41,698,321.00

    Other tangible assets / fixtures and

    fittings                             EUR         16,078,770.00

    Advance payments made / construction

    in progress                          EUR         15,963,554.00

   Financial assets                      EUR         64,734,822.00

    Shares in participations /

    subsidiaries and the like            EUR         26,965,419.00

     Shares in related companies         EUR         24,744,124.00

     Shares in investee companies        EUR          2,221,295.00

    Loans to participations /

    subsidiaries and the like            EUR         37,769,403.00

     Loans to related companies          EUR         37,769,403.00

  Current assets                         EUR      1,154,740,626.00

   Stocks                                EUR        625,434,814.00

    Raw materials, consumables and

    supplies                             EUR        360,813,932.00

    Finished goods / work in progress    EUR        205,038,584.00

    Advance payments made                EUR         59,582,298.00

   Accounts receivable                   EUR        339,861,760.00

    Trade debtors                        EUR        100,053,871.00

    Amounts due from related companies   EUR        128,273,499.00

    Other debtors and assets             EUR        111,534,390.00

   Liquid means                          EUR        189,444,052.00

  Remaining other assets                 EUR         17,030,256.00

   Accruals (assets)                     EUR         17,030,256.00

 

 LIABILITIES                             EUR      1,378,639,031.00

  Shareholders' equity                   EUR        401,745,253.00

   Capital                               EUR          9,220,179.00

    Subscribed capital (share capital)   EUR          9,220,179.00

   Reserves                              EUR        291,215,200.00

    Capital reserves                     EUR        291,215,200.00

   Balance sheet profit/loss (+/-)       EUR        101,309,874.00

    Profit / loss brought forward        EUR         81,938,999.00

    Annual surplus / annual deficit      EUR         19,370,875.00

  Provisions                             EUR        222,457,358.00

   Provisions for taxes                  EUR          5,043,963.00

   Other / unspecified provisions        EUR        217,413,395.00

  Liabilities                            EUR        738,841,139.00

   Financial debts                       EUR         34,967,958.00

    Liabilities due to banks             EUR         34,967,958.00

   Other liabilities                     EUR        703,873,181.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR        239,962,532.00

    Liabilities from received advance

    payments                             EUR        431,696,234.00

    Liabililties due to related companiesEUR         22,391,458.00

    Liabilities due to investee companiesEUR            833,493.00

    Unspecified other liabilities        EUR          8,989,464.00

     thereof liabilities from tax /

     financial authorities               EUR          1,402,715.00

     thereof liabilities from social

     security                            EUR              3,734.00

  Other liabilities                      EUR         15,595,281.00

   Deferrals (liabilities)               EUR         15,595,281.00

  Guarantees and other commitments       EUR         11,300,000.00

   Guarantees / warranties               EUR         11,300,000.00

    Guarantees                           EUR         11,300,000.00

 

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

 

  Sales                                  EUR      1,169,020,722.00

  Inventory change + own costs (+/-)     EUR        281,427,789.00

   Inventory change (+/-)                EUR        281,427,789.00

  Other operating income                 EUR         63,168,632.00

  Cost of materials                      EUR      1,247,046,443.00

   Raw materials and supplies, purchased

   goods                                 EUR        985,379,128.00

   Purchased services                    EUR        261,667,315.00

  Gross result (+/-)                     EUR        266,570,700.00

  Staff expenses                         EUR         84,811,165.00

   Wages and salaries                    EUR         72,287,592.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         12,523,573.00

  Total depreciation                     EUR         19,549,132.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         19,549,132.00

  Other operating expenses               EUR        127,875,537.00

  Operating result from continuing

  operations                             EUR         34,334,866.00

  Result from participating interests

  (+/-)                                  EUR          3,850,442.00

   Expenses / income from participations EUR          3,850,442.00

    Income from transfer of profits      EUR            179,765.00

    Income from related companies        EUR          3,670,677.00

  Interest result (+/-)                  EUR         -4,411,664.00

   Interest and similar income           EUR          7,493,467.00

    thereof from related companies       EUR          4,945,625.00

   Interest and similar expenses         EUR         11,905,131.00

    thereof paid to related companies    EUR            226,800.00

  Other financial result                 EUR         -5,307,815.00

   Depreciation on financial assets and

   marketable securities                 EUR          5,307,815.00

  Financial result (+/-)                 EUR         -5,869,037.00

  Result from ordinary operations (+/-)  EUR         28,465,829.00

  Income tax / refund of income tax (+/-)EUR         -8,860,508.00

  Other taxes / refund of taxes          EUR           -234,446.00

  Tax (+/-)                              EUR         -9,094,954.00

  Annual surplus / annual deficit        EUR         19,370,875.00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

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.