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Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ESK CERAMICS GMBH & CO. KG |
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Registered Office : |
Max-Schaidhauf-Str. 25, D 87437 Kempten |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.11.2003 |
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|
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Com. Reg. No.: |
HRA 8154 |
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Legal Form : |
Ltd partnership with priv. ltd. company as general partner |
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Line of Business : |
Manufacturer of advanced technical ceramics products |
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No. of Employees : |
635 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
ESK Ceramics GmbH & Co. KG
Max-Schaidhauf-Str. 25
D 87437 Kempten
Telephone: 0831/56180
Telefax: 0831/5618345
Homepage: www.esk.com
E-mail: info@esk.com
active
DE813840889
Business relations are permissible.
LEGAL FORM Ltd partnership with priv. ltd. company as
general partner
Date of foundation: 2003
Registered on: 20.11.2003
Register of
companies: Local court 87435 Kempten
under: HRA 8154
Total cap. contribution:
EUR 1,000,000.00
Ceradyne ESK,L.L.C.
USA Cost Mesa/Kalifornien
Legal form: Other legal form
Share: EUR 1,000,000.00
ESK Ceramics Geschäftsführungs GmbH
Max-Schaidhauf-Str. 25
D 87437 Kempten
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered on: 19.02.2004
Reg. data: 87435 Kempten, HRB 8408
Ceradyne ESK,L.L.C.
USA Cost Mesa/Kalifornien
Legal form: Other legal form
Share: EUR 25,000.00
Clemens Kippes
D 87471 Durach
authorized to jointly represent the company
born: 19.03.1964
Manager:
Dr.
Roland Richter
D
82205 Gilching
born:
04.02.1966
Thomas Walz
D 87471 Durach
authorized to jointly represent the company
born: 06.08.1965
Proxy:
Dr.
Christoph Lesniak
D
87474 Buchenberg
authorized to jointly represent the company
born:
13.10.1963
Proxy:
Christoph Martin Nitsche
D
87452 Altusried
authorized to jointly represent the company
born:
15.08.1962
Main industrial sector
23440 Manufacturer of
advanced technical ceramics products
20590 Manufacturer of
other chemical products n.e.c.
Payment experience: within
agreed terms
Negative information: We
have no negative information at hand.
Balance sheet year: 2011
Type of ownership: proprietor
Share: 100.00 %
Address Max-Schaidhauf-Str. 25
D
87437 Kempten
Land register documents were not available.
Principal bank
UNICREDIT BANK - HYPOVEREINSBANK, 80311 MÜNCHEN
Sort. code: 70020270
BIC: HYVEDEMMXXX
Further bank
COMMERZBANK VORMALS DRESDNER BANK, 80273 MÜNCHEN
Sort. code: 70080000
BIC: DRESDEFF700
Equipment: EUR 2,255,625.00
Ac/ts receivable: EUR 73,987,801.00
Liabilities: EUR 8,501,920.00
Employees: 635
-
thereof permanent staff: 603
-
Trainees:
32
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 82.36
Liquidity ratio: 10.00
Return on total capital [%]: 16.11
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 81.65
Liquidity ratio: 10.00
Return on total capital [%]: 15.84
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 81.85
Liquidity ratio: 10.00
Return on total capital [%]: -6.31
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 83.57
Liquidity ratio: 10.00
Return on total capital [%]: -1.95
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: 01.01.2011 - 31.12.2011
ASSETS EUR 142,829,702.14
Fixed assets
EUR 31,555,875.73
Intangible assets EUR 772,975.00
Concessions, licences, rights
EUR 772,975.00
Tangible assets
EUR 30,719,674.73
Land / similar rights
EUR 12,283,413.97
Plant / machinery EUR 15,547,050.00
Other tangible assets / fixtures and
fittings
EUR 2,255,625.00
Advance payments made / construction
in progress
EUR 633,585.76
Financial assets
EUR 63,226.00
Securities included in fixed assets
EUR 48,321.34
Other loans
EUR 14,904.66
Current assets
EUR 111,046,906.41
Stocks
EUR 30,205,099.39
Raw materials, consumables and
supplies
EUR 5,817,282.33
Finished goods / work in progress
EUR 24,387,817.06
Accounts
receivable EUR 73,987,800.53
thereof total due from shareholders
EUR 0.00
Trade debtors
EUR 9,807,879.85
Amounts due from related companies
EUR 62,824,590.23
Other debtors and assets
EUR 1,355,330.45
Liquid means
EUR 6,854,006.49
Remaining other assets
EUR 226,920.00
Accruals (assets)
EUR 226,920.00
LIABILITIES EUR 142,829,702.14
Shareholders' equity
EUR 115,825,195.07
Capital
EUR 1,000,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 1,000,000.00
Reserves
EUR 53,220,570.68
Balance sheet profit/loss (+/-)
EUR 61,604,624.39
Profit / loss brought forward
EUR 38,588,416.34
Annual surplus / annual deficit
EUR 23,016,208.05
Provisions
EUR 18,502,586.85
Pension provisions and comparable
provisions
EUR 10,683,088.00
Provisions for taxes EUR 1,231,583.80
Other / unspecified provisions
EUR 6,587,915.05
Liabilities
EUR 8,501,920.22
thereof total due to shareholders
EUR 1,808,000.00
Other liabilities
EUR 8,501,920.22
Trade creditors (for IAS incl. bills
of exchange)
EUR 5,662,873.34
Liabililties due to related companiesEUR 1,807,751.51
Unspecified other liabilities EUR 1,031,295.37
thereof liabilities from tax /
financial authorities
EUR 464,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 116,761,087.79
Inventory change + own costs (+/-)
EUR 3,802,776.17
Inventory change (+/-)
EUR 3,553,275.66
Capitalised own costs
EUR 249,500.51
Other operating income
EUR 2,943,723.21
Cost of materials
EUR 32,538,349.97
Raw materials and supplies, purchased
goods
EUR 30,444,873.90
Purchased
services EUR 2,093,476.07
Gross result (+/-)
EUR 90,969,237.20
Staff expenses
EUR 40,886,487.55
Wages and salaries
EUR 33,621,618.68
Social security contributions and
expenses for pension plans and
benefits
EUR 7,264,868.87
Total depreciation
EUR 5,503,883.12
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 5,503,883.12
Other operating expenses
EUR 17,326,657.07
Operating result from continuing
operations
EUR 27,252,209.46
Interest result (+/-)
EUR -1,147,738.42
Interest and similar income
EUR 1,144,174.58
thereof from related companies
EUR 1,089,000.00
Interest and similar expenses EUR
2,291,913.00
thereof paid to related companies
EUR 1,624,000.00
Financial result (+/-)
EUR -1,147,738.42
Result from ordinary operations (+/-)
EUR 26,104,471.04
Income tax / refund of income tax (+/-)EUR -3,088,262.99
Tax
(+/-)
EUR -3,088,262.99
Annual surplus / annual deficit
EUR 23,016,208.05
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 114,862,164.51
Fixed assets
EUR 33,491,187.07
Intangible assets
EUR 819,012.00
Concessions, licences, rights
EUR 819,012.00
Tangible assets
EUR 32,441,256.23
Land / similar rights
EUR 12,767,425.97
Plant / machinery
EUR 17,707,072.00
Other tangible assets / fixtures and
fittings
EUR 1,625,039.00
Advance payments made / construction
in progress
EUR 341,719.26
Financial assets
EUR 230,918.84
Securities included in fixed assets
EUR 216,014.18
Other loans
EUR 14,904.66
Current assets
EUR 81,272,405.52
Stocks
EUR 26,048,491.32
Raw materials, consumables and
supplies
EUR 5,049,876.58
Finished goods / work in progress
EUR 20,998,614.74
Accounts receivable
EUR 53,295,650.04
thereof total due from shareholders
EUR 0.00
Trade debtors
EUR 9,564,862.72
Amounts due from related companies
EUR 41,911,215.49
Other debtors and assets
EUR 1,819,571.83
Liquid means
EUR 1,928,264.16
Remaining other assets
EUR 98,571.92
Accruals (assets)
EUR 98,571.92
LIABILITIES EUR
114,862,164.51
Shareholders' equity
EUR 92,808,987.02
Capital
EUR 1,000,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 1,000,000.00
Reserves
EUR 53,220,570.68
Balance sheet profit/loss (+/-)
EUR 38,588,416.34
Profit / loss brought forward
EUR 23,125,724.19
Annual surplus / annual deficit
EUR 15,462,692.15
Provisions
EUR 16,353,835.88
Pension provisions and comparable
provisions
EUR 10,034,094.00
Provisions for taxes
EUR 248,259.96
Other / unspecified provisions
EUR 6,071,481.92
Liabilities
EUR 5,699,341.61
thereof total due to shareholders
EUR 1,051,000.00
Other liabilities
EUR 5,699,341.61
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,727,380.32
Liabililties due to related companiesEUR 1,050,827.79
Unspecified other liabilities
EUR 921,133.50
thereof liabilities from tax /
financial authorities
EUR 622,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 98,022,120.10
Inventory change + own costs (+/-)
EUR 3,147,244.55
Inventory change (+/-)
EUR 2,969,698.28
Capitalised own costs
EUR 177,546.27
Other operating income
EUR 2,460,310.82
Cost of materials
EUR 26,523,742.68
Raw materials and supplies, purchased
goods
EUR 25,107,292.99
Purchased services
EUR 1,416,449.69
Gross result (+/-) EUR 77,105,932.79
Staff expenses
EUR 36,373,380.28
Wages and salaries
EUR 29,270,611.49
Social security contributions and
expenses for pension plans and
benefits
EUR 7,102,768.79
Total depreciation
EUR 6,817,340.31
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 6,817,340.31
Other operating expenses
EUR 13,977,695.59
Operating result from continuing
operations
EUR 19,937,516.61
Interest result (+/-)
EUR -1,112,009.31
Interest and similar income
EUR 577,572.41
thereof from related companies
EUR 440,000.00
Interest and similar expenses
EUR 1,689,581.72
thereof
paid to related companies EUR 896,000.00
Financial result (+/-)
EUR -1,112,009.31
Result from ordinary operations (+/-)
EUR 18,825,507.30
Extraordinary expenses
EUR 2,670,045.00
Extraordinary result (+/-)
EUR -2,670,045.00
Income tax / refund of income tax (+/-)EUR -692,770.15
Tax
(+/-)
EUR -692,770.15
Annual surplus / annual deficit
EUR 15,462,692.15
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
UK Pound |
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.