|
Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
BUDERUS EDELSTAHL GMBH |
|
|
|
|
Registered Office : |
Buderusstr. 25, D 35576 Wetzlar |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
24.10.2005 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
·
Forging,
pressing, stamping and roll-forming of metal;
powder metallurgy ·
Machining
n.e.c. |
|
|
|
|
No of Employees : |
Thereof permanent staff – 211 Trainees - 14 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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, 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 |
Buderus
Edelstahl GmbH
Buderusstr.
25
D 35576
Wetzlar
Telephone:06441/374-4513
Telefax: 06441/374-4571
Homepage: www.buderus-edelstahl.de
E-mail: Info@buderus-steel.com
Active
DE245110587
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 24.10.2005
Shareholders'
agreement: 24.10.2005
Registered on: 04.11.2005
Commercial Register: Local court 35578 Wetzlar
under: HRB 5159
Share capital: EUR 30,700,000.00
voestalpine Edelstahl
GmbH
Modecenterstr. 14
A 1030 Wien
Legal form: Other legal
form
Share: EUR 30,700,000.00
Manager:
Roland Newe
D 35606 Solms
born: 04.10.1965
Profession: Businessman
Manager:
Hans-Wilhelm Giese
D 35641 Schöffengrund
born: 07.04.1955
Manager:
Martin Dietze
Klagenfurter Str. 13
D 55543 Bad Kreuznach
born: 11.11.1963
Manager:
Johann Weigand
A Aflenz
born: 09.02.1950
Nationality: Austrian
Proxy:
Stefan Beck
Marburger Str. 4
D 35756 Mittenaar
authorized to jointly
represent the company
born: 22.04.1968
Profession: Businessman
Marital status: single
Proxy:
Holger Karches
D 35075 Gladenbach
authorized to jointly
represent the company
born: 13.03.1970
Proxy:
Udo Rick
Veilchenweg 3
D 58313 Herdecke
authorized to jointly
represent the company
born: 04.01.1952
Proxy:
Michael Hammer
D 35606 Solms
authorized to jointly represent
the company
born: 08.05.1962
Proxy:
Bernd Schmitz
D 58579 Schalksmühle
authorized to jointly
represent the company
born: 10.05.1967
Proxy:
Christian Simon
D 35644 Hohenahr
authorized to jointly
represent the company
born: 08.08.1978
Further functions/participations of Martin
Dietze (Manager)
Manager:
Buderus Edelstahl Band
GmbH
Buderusstr. 25
D 35576 Wetzlar
Legal form: Private
limited company dissolved
Share capital: EUR 6,000,000.00
Registered on: 04.11.2005
Reg. data: 35578 Wetzlar, HRB 5161
25.03.2009 - 22.03.2013 Buderus Edelstahl Schmiedetechnik GmbH
Buderusstr. 25
D 35576
Wetzlar
Private
limited company
10.04.2013 - 14.05.2013 Manager
Dr.-Ing. Lothar Birkhäuser
D 41747
Viersen
04.05.2007 - 17.07.2012 Manager
Dr.
Horst Schneider
D 24395
Röhrmoos
07.03.2011 - 20.02.2012 Manager
Martin Reicher
A
Trofaiach
15.01.2008 - 18.02.2011 Manager
Dr.
Reinhard Nöbauer
D 56856
Zell
Main
industrial sector
2550 Forging, pressing, stamping and
roll-forming of metal; powder metallurgy
25620 Machining n.e.c.
Payment experience: within agreed terms
Negative information: We have no negative information
at hand.
Balance sheet year: 2011/2012
Type of
ownership: proprietor
Share: 100.00 %
Address Buderusstr. 25
D 35576
Wetzlar
Land register documents were not available.
Principal banks
COMMERZBANK, 35523 WETZLAR
Sort. code: 51540037
BIC: COBADEFF515
COMMERZBANK VORMALS DRESDNER BANK, 35332
GIEßEN, LAHN
Sort. code: 51380040
BIC: DRESDEFF513
POSTBANK, 60288 FRANKFURT AM MAIN
Sort. code: 50010060
BIC: PBNKDEFFXXX
Turnover: 2011/2012 EUR 93,742,016.00
Profit: 2011/2012 EUR -2,550,846.00
Equipment: *EUR 3,024,500.00
Ac/ts receivable: EUR 9,426,985.00
Liabilities: EUR 25,162,927.00
Employees:
277
- thereof permanent
staff: 211
- Trainees:
14
The business figures marked with an asterisk
are estimates based on average values in the line of business.
Balance sheet ratios 01.04.2011 - 31.03.2012
Equity ratio [%]: 36.37
Liquidity ratio: 0.38
Return on total capital [%]: -5.12
Balance sheet ratios 01.04.2010 - 31.03.2011
Equity ratio [%]: 45.13
Liquidity ratio: 0.56
Return on total capital [%]: 2.82
Balance sheet ratios 01.04.2009 - 31.03.2010
Equity ratio [%]: 48.86
Liquidity ratio: 0.54
Return on total capital [%]: -10.19
Balance sheet ratios 01.04.2008 - 31.03.2009
Equity ratio [%]: 55.55
Liquidity ratio: 0.87
Return on total capital [%]: -5.31
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.
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.
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: 01.04.2011 - 31.03.2012
ASSETS EUR 49,864,480.37
Fixed assets
EUR 20,652,687.05
Intangible assets
EUR 75,534.70
Other
/ unspecified intangible assetsEUR
75,534.70
Tangible assets
EUR 20,577,152.35
Other / unspecified tangible assets
EUR 20,577,152.35
Current assets
EUR 29,114,553.28
Stocks
EUR 19,614,371.90
Accounts receivable
EUR 9,426,984.57
Trade debtors
EUR 7,911,169.84
Other debtors and assets
EUR 1,515,814.73
Liquid means
EUR 73,196.81
Remaining other assets
EUR 97,240.04
Accruals (assets)
EUR 97,240.04
LIABILITIES EUR 49,864,480.37
Shareholders' equity
EUR 18,160,816.67
Capital
EUR 6,000,000.00
Subscribed capital (share capital)
EUR 6,000,000.00
Reserves EUR 14,711,662.44
Capital reserves
EUR 14,700,871.44
Retained earnings / revenue reserves EUR 10,791.00
Balance sheet profit/loss (+/-)
EUR -2,550,845.77
Annual surplus / annual deficit
EUR -2,550,845.77
Provisions
EUR 6,540,736.27
Pension provisions and comparable
provisions
EUR 3,524,257.00
Other / unspecified provisions
EUR 3,016,479.27
Liabilities
EUR 25,162,927.43
Financial debts
EUR 1,260,991.45
Liabilities due to banks
EUR 1,260,991.45
Other
liabilities EUR 23,901,935.98
Trade creditors (for IAS incl. bills
of exchange)
EUR 4,470,161.61
Liabililties due to related companiesEUR 18,990,254.02
Unspecified other liabilities
EUR 441,520.35
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 93,742,015.91
Inventory change + own costs (+/-)
EUR 239,712.68
Inventory change (+/-)
EUR 204,065.49
Capitalised own costs
EUR 35,647.19
Other operating income
EUR 515,827.71
Cost of materials
EUR 70,850,234.59
Gross result (+/-)
EUR 23,647,321.71
Staff expenses
EUR 12,885,930.76
Total depreciation
EUR 2,156,523.24
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 2,156,523.24
Other operating expenses
EUR 10,760,577.89
Operating result from continuing
operations
EUR -2,155,710.18
Interest result (+/-)
EUR -476,080.47
Interest and similar income
EUR 857.12
Interest and similar expenses
EUR 476,937.59
Financial result (+/-) EUR -476,080.47
Result from ordinary operations (+/-)
EUR -2,631,790.65
Income tax / refund of income tax (+/-)EUR 80,944.88
Tax (+/-)
EUR 80,944.88
Annual
surplus / annual deficit EUR -2,550,845.77
Type of balance sheet: Company balance
sheet
Financial year:
01.04.2010 - 31.03.2011
ASSETS EUR 48,031,527.56
Fixed assets
EUR 18,221,516.77
Intangible assets
EUR 122,764.13
Other / unspecified intangible assetsEUR 122,764.13
Tangible assets
EUR 18,098,752.64
Other / unspecified tangible assets
EUR 18,098,752.64
Current assets
EUR 29,733,319.06
Stocks
EUR 18,242,529.03
Other / unspecified stocks
EUR 18,242,529.03
Accounts receivable
EUR 11,479,066.50
Trade debtors
EUR 10,107,957.14
Other debtors and assets
EUR 1,371,109.36
Liquid means
EUR 11,723.53
Remaining other assets
EUR 76,691.73
Accruals (assets)
EUR 76,691.73
Contingent claims
EUR 240,000.00
LIABILITIES EUR 48,031,527.56
Shareholders' equity
EUR 21,711,662.44
Capital
EUR 6,000,000.00
Subscribed
capital (share capital) EUR 6,000,000.00
Reserves
EUR 19,088,191.00
Capital reserves
EUR 19,077,400.00
Retained earnings / revenue reserves EUR 10,791.00
Balance sheet profit/loss (+/-)
EUR -3,376,528.56
Profit / loss brought forward
EUR -4,071,089.60
Annual surplus / annual deficit
EUR 694,561.04
Provisions
EUR 5,826,717.45
Pension provisions and comparable
provisions
EUR 3,321,887.00
Other / unspecified provisions
EUR 2,504,830.45
Liabilities
EUR 20,493,147.67
Financial debts
EUR 1,122,044.62
Liabilities due to banks
EUR 1,122,044.62
Other liabilities
EUR 19,371,103.05
Trade creditors (for IAS incl. bills
of exchange)
EUR 2,677,144.66
Liabililties due to related companiesEUR 16,417,699.06
Unspecified other liabilities
EUR 276,259.33
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 79,438,219.99
Inventory change + own costs (+/-)
EUR 3,141,524.04
Inventory change (+/-)
EUR 3,106,810.11
Capitalised own costs
EUR 34,713.93
Other operating income
EUR 2,881,072.29
Cost of materials
EUR 59,461,135.22
Gross result (+/-)
EUR 25,999,681.10
Staff expenses EUR 10,889,824.63
Total depreciation
EUR 2,474,882.95
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 2,474,882.95
Other operating expenses
EUR 10,956,611.59
Operating result from continuing
operations
EUR 1,678,361.93
Interest result (+/-)
EUR -324,540.89
Interest and similar income
EUR 18,987.36
Interest and similar expenses
EUR 343,528.25
Financial result (+/-)
EUR -324,540.89
Result from ordinary operations (+/-)
EUR 1,353,821.04
Extraordinary expenses
EUR 659,260.00
Extraordinary result (+/-)
EUR -659,260.00
Annual surplus / annual deficit
EUR 694,561.04
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.27 |
|
|
1 |
Rs. 103.46 |
|
Euro |
1 |
Rs. 84.87 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.