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Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
REMOS AIRCRAFT GMBH FLUGZEUGBAU |
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|
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Registered Office : |
Franzfelde 31, D 17309 Pasewalk |
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Country : |
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|
|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
26.11.1992 |
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|
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Com. Reg. No.: |
HRB 6788 |
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Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacture of aircraft and spacecraft and related
machinery |
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No. of Employees : |
16 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
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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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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, contributed to strong growth in 2006 and 2007 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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. 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. 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. By 2014, the federal government wants to balance its budget. 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 |
REMOS AIRCRAFT GMBH
FLUGZEUGBAU
Company Status: active
Franzfelde 31
D 17309 Pasewalk
Telephone:03973/2255190
Telefax: 03973/22551999
Homepage: www.remos.com
E-mail: info@remos.com
VAT no.: DE166749790
LEGAL FORM Private limited company
Date of foundation: 26.11.1992
Shareholders'
agreement: 26.11.1992
Registered on: 05.09.2007
Commercial Register: Local court 17033 Neubrandenburg
under: HRB 6788
Share capital: EUR 100,000.00
Shareholder:
PALLMALL Technology Ventures VI LP
52a Cromwell Road
GB SW 7 5BE London, United Kingdom
Legal form: Other legal form
Share: EUR 29,947.00
Shareholder:
PALLMALL Technology Ventures V LP
52a Cromwell Road
GB SW 7 5BE London
Legal form: Other legal form
Share: EUR 27,526.00
Shareholder:
PALLMALL Technology Ventures VII LP
52a Cromwell Road
GB SW 7 5BE London
Legal form: Other legal form
Share: EUR 22,397.00
Shareholder:
PALLMALL Technology Ventures III LP
52a Cromwell Road
GB SW 7 5BE London, United Kingdom
Legal form: Other legal form
Share: EUR 10,130.00
Shareholder:
SCOOP GmbH
Kronprinzenstr. 2
D 53173 Bonn
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 10,000.00
Registered on: 31.03.2006
Reg. data: 53111 Bonn, HRB 14431
Manager:
Theo Karl-Josef Maria Paeffgen
Kronprinzenstr. 2
D 53173 Bonn
having sole power of representation
born: 12.02.1968
Profession: Solicitor
Marital status: unknown
Proxy:
Jakob Siegers
Krausestr. 34
D 22305 Hamburg
having sole power of representation
born: 19.08.1971
Further functions/participations of Theo Karl-Josef Maria Paeffgen (Manager)
General partner:
Jan Hendrik Wiedemann, Sabine Wiedemann,
Theo Karl-Josef Päffgen, Sarah Päffgen
Kronprinzenstr. 2
D 53173 Bonn
Legal form: Partnership under the Civil Code
Shareholder:
Paeffgen Rechtsanwaltsgesellschaft mbH
Kronprinzenstr. 2
D 53173 Bonn
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 30.01.2004
Reg. data: 53111 Bonn, HRB 12920
Manager:
Paeffgen Rechtsanwaltsgesellschaft mbH
Kronprinzenstr. 2
D 53173 Bonn
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 30.01.2004
Reg. data: 53111 Bonn, HRB 12920
President of the
Board of Directors:
Deutsche Immobilien Invest
Aktiengesellschaft
Kronprinzenstr. 2
D 53173 Bonn
Legal form: Public limited company
Share capital: EUR 50,000.00
Registered
on: 02.07.2007
Reg. data: 53111 Bonn, HRB 15561
26.11.1992 - 05.03.2001 REMOS GmbH Flugzeugbau
Waldweg 1
D 85283 Wolnzach
Private limited company
06.03.2001 - 10.09.2002 REMOS Aircraft GmbH Flugzeugbau
Waldweg 1
D 85283 Wolnzach
Private limited company
11.09.2002 - 05.09.2007 REMOS Aircraft GmbH Flugzeugbau (bis
05.09.2007)
Waldweg 1
D 85283 Wolnzach
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
19.05.2010 - 24.10.2011 Manager
Edward P. Roberto
USA - Denver
Main industrial sector
30300 Manufacture of aircraft and spacecraft and related machinery
46142 Agents involved in the sale of ships and aircraft
46693 Wholesale of other equipment and accessories for machinery and technical supplies
Branch:
REMOS Aircraft GmbH Flugzeugbau
Richthofenstr. 124
D 53757 Sankt Augustin
TEL.: 02241/976960
Payment experience: advance payment due to slack method of payment
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Franzfelde 31
D 17309 Pasewalk
Real Estate of: Theo Karl-Josef Maria Paeffgen
Type of ownership: Tenant
Address Kronprinzenstr. 2
D 53173 Bonn
Land register documents were not available.
SPARKASSE PFAFFENHOFEN, 85262 PFAFFENHOFEN A.D.ILM
Sort. code: 72151650
BIC: BYLADEM1PAF
Turnover: 2012 EUR 2,500,000.00
2013 *EUR 2,720,000.00
Profit: 2012 EUR -1,198,379.00
further business figures:
Equipment: *EUR 138,500.00
Ac/ts receivable: EUR 483,348.00
Liabilities: EUR 2,163,013.00
Employees: 16
The business figures marked with an asterisk are estimates based
on average values in the line of business.
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: -52.43
Liquidity ratio: 0.23
Return on total capital [%]: -69.27
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 15.72
Liquidity ratio: 0.39
Return on total capital [%]: -543.92
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 82.38
Liquidity ratio: 1.08
Return on total capital [%]: -33.41
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 87.35
Liquidity ratio: 10.00
Return on total capital [%]: -34.40
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 2,636,923.69
Fixed assets EUR 94,310.00
Intangible assets EUR 20,503.00
Tangible assets EUR 73,806.00
Financial assets EUR 1.00
Other / unspecified financial assets
EUR 1.00
Current assets EUR 1,641,546.22
Stocks EUR 1,093,955.24
Accounts receivable EUR 483,348.48
Liquid means EUR 64,242.50
Remaining other assets EUR 901,067.47
Accruals (assets) EUR 4,359.64
Deficit not covered by shareholders'
equity EUR 896,707.83
LIABILITIES EUR 2,636,923.69
Shareholders' equity EUR 0.00
Capital EUR 1,700,000.00
Subscribed capital (share capital) EUR
1,700,000.00
Reserves EUR 12,870,316.12
Capital reserves EUR 12,870,316.12
Balance sheet profit/loss (+/-) EUR -15,467,023.95
Profit / loss brought forward EUR -14,268,645.44
Annual surplus / annual deficit EUR -1,198,378.51
Other shareholders' equity (+/-) EUR 896,707.83
Deficit not covered by shareholders'
equity EUR 896,707.83
Provisions EUR 473,910.47
Liabilities EUR
2,163,013.22
Type of balance
sheet: Company balance
sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 1,919,446.69
Fixed assets EUR 188,692.00
Intangible assets EUR 7,884.72
Concessions, licences, rights EUR 7,884.72
Tangible assets EUR 180,806.28
Plant / machinery EUR 56,884.89
Other tangible assets / fixtures and
fittings EUR 123,921.39
Financial assets EUR 1.00
Shares in participations /
subsidiaries and the like EUR 1.00
Shares in related companies EUR 1.00
Current assets EUR 1,671,375.82
Stocks EUR 1,271,690.82
Raw materials, consumables and
supplies EUR 468,170.08
Finished goods / work in progress EUR 801,243.56
Advance payments made EUR 2,277.18
Accounts receivable EUR 399,654.66
Trade debtors EUR 88,241.87
Other debtors and assets EUR 311,412.79
Liquid means EUR 30.34
Remaining other assets EUR 59,378.87
Accruals (assets) EUR 59,378.87
LIABILITIES EUR 1,919,446.69
Shareholders' equity EUR 301,670.68
Capital EUR 1,700,000.00
Subscribed capital (share capital) EUR
1,700,000.00
Reserves EUR 12,870,316.12
Capital reserves EUR 12,870,316.12
Balance sheet profit/loss (+/-) EUR -14,268,645.44
Profit / loss brought forward EUR -11,350,361.14
Annual surplus / annual deficit EUR -2,918,284.30
Provisions EUR 603,311.00
Provisions for taxes EUR 415,546.00
Other / unspecified provisions EUR 187,765.00
Liabilities EUR 1,014,465.01
Financial debts EUR 249,229.08
Liabilities due to banks EUR 249,229.08
Other liabilities EUR 765,235.93
Trade creditors (for IAS incl. bills
of exchange) EUR 379,809.94
Liabilities from received advance
payments EUR 229,478.85
Unspecified other liabilities EUR 155,947.14
thereof liabilities from tax /
financial authorities EUR 20,646.33
thereof liabilities from social
security EUR 7,939.22
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.Code (HGB)
Sales EUR 2,298,199.83
Inventory change + own costs (+/-) EUR -15,265.26
Inventory change (+/-) EUR -15,265.26
Other operating income EUR 112,751.31
Cost of materials EUR 1,498,639.54
Raw materials and supplies, purchased
goods EUR 1,426,118.16
Purchased services EUR 72,521.38
Gross result (+/-) EUR 897,046.34
Staff expenses EUR 1,923,953.49
Wages and salaries EUR 1,613,227.04
Social security contributions and
expenses for pension plans and
benefits EUR 310,726.45
Total depreciation EUR 1,554,156.80
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 348,502.52
Depreciation on current assets (+/-) EUR 1,205,654.28
Other operating expenses EUR 1,509,354.73
Operating result from continuing
operations EUR -4,090,418.68
Result from participating interests
(+/-) EUR 253,716.06
Expenses / income from participations
EUR 253,716.06
Income from related companies EUR 253,716.06
Interest result (+/-) EUR -262,711.49
Interest and similar income EUR 35,268.67
thereof from related companies EUR 31,684.45
Interest and similar expenses EUR 297,980.16
thereof paid to related companies EUR 8.41
Other financial result EUR -5,924,841.22
Depreciation on financial assets and
marketable securities EUR 5,924,841.22
Financial result (+/-) EUR -5,933,836.65
Result from ordinary operations (+/-) EUR
-10,024,255.33
Extraordinary income EUR 7,522,059.01
Extraordinary result (+/-) EUR 7,522,059.01
Income tax / refund of income tax
(+/-)EUR -415,848.98
Other taxes / refund of taxes EUR -239.00
Tax (+/-) EUR -416,087.98
Annual surplus / annual deficit EUR -2,918,284.30
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
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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.