|
Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GAPCON
GMBH |
|
|
|
|
Registered Office : |
Walzwerkstr.
20 D 47877 Willich |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
24.01.2006 |
|
|
|
|
Legal Form : |
Private
limited company |
|
|
|
|
Line of Business : |
·
Manufacture
of machinery for paper and paperboard production ·
Wholesale
of other machinery, equipment and supplies |
|
|
|
|
No. of Employees |
54 |
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 : |
Usually 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 |
GAPCON GMBH
Company Status: active
Walzwerkstr. 20
D 47877 Willich
Telephone:02154/88772-0
Telefax: 02154/88772-110
Homepage: www.gapcon.com
E-mail: info@gapcon.com
VAT no.: DE814699504
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 24.01.2006
Shareholders'
agreement: 24.01.2006
Registered on: 13.01.2011
Commercial Register: Local court 47798 Krefeld
under: HRB
13288
Share capital: EUR 1,000,000.00
Shareholder:
Irle Deuz GmbH
Hüttenweg 5
D 57250 Netphen
Post Box:
31 61, D 57244 Netphen
Legal form: Private
limited company
Share capital: EUR 4,500,000.00
Share: EUR 800,000.00
Registered on: 30.12.1908
Reg. data: 57072 Siegen,
HRB 1181
Shareholder:
Wolfgang Wiertz
D 47798 Krefeld
born: 05.02.1962
Share: EUR 100,000.00
Shareholder:
Wolfgang Mark
D 40667 Meerbusch
born: 07.02.1965
Share: EUR 100,000.00
Manager:
Dr.-Ing. Jaxa von Schweinichen
Marburger Str. 23
D 57250 Netphen
born: 25.05.1953
Marital status: married
Manager:
Wolfgang Wiertz
D 47798 Krefeld
authorized to jointly
represent the company
born: 05.02.1962
Profession: graduate
engineer
Manager:
Wolfgang Mark
D 40667 Meerbusch
authorized to jointly
represent the company
born: 07.02.1965
Profession: graduate
engineer
Proxy:
Achim Peter Müller
Bergstr.
D 57234 Wilnsdorf
authorized to jointly
represent the company
born: 02.05.1965
Profession: Fully
qualified merchant
Proxy:
Stefan Raven
D 40667 Meerbusch
authorized to jointly
represent the company
born: 27.11.1971
Further functions/participations of Dr.-Ing.
Jaxa von
Schweinichen (Manager)
Manager:
Irle Deuz GmbH
Hüttenweg 5
D 57250 Netphen
Post Box:
31 61, D 57244 Netphen
Legal form: Private
limited company
Share capital: EUR 4,500,000.00
Registered
on: 30.12.1908
Reg. data: 57072 Siegen, HRB 1181
Manager:
WALZEN IRLE GMBH
Hüttenweg 5
D 57250 Netphen
Post Box:
31 61, D 57244 Netphen
Legal form: Private
limited company
Share capital: EUR 7,500,000.00
Registered
on: 11.12.1972
Reg. data: 57072 Siegen, HRB 1436
Manager:
SIWACO GmbH
Hüttenweg 2
D 57250 Netphen
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 26.03.2001
Reg. data: 57072 Siegen, HRB 5443
Manager:
IVB Vermögen und Beteiligung GmbH
Hüttenweg 5
D 57250 Netphen
Legal form: Private
limited company
Share capital: EUR 800,000.00
Registered
on: 29.03.2010
Reg. data: 57072 Siegen, HRB 9131
Further functions/participations of Wolfgang
Wiertz (Manager)
Manager:
WALZEN IRLE GMBH
Hüttenweg 5
D 57250 Netphen
Post Box:
31 61, D 57244 Netphen
Legal form: Private
limited company
Share capital: EUR 7,500,000.00
Registered
on: 11.12.1972
Reg. data: 57072 Siegen, HRB 1436
Manager:
IVB Vermögen und
Beteiligung GmbH
Hüttenweg 5
D 57250 Netphen
Legal form: Private
limited company
Share capital: EUR 800,000.00
Registered
on: 29.03.2010
Reg. data: 57072 Siegen, HRB 9131
Manager:
SIWACO GmbH
Hüttenweg 2
D 57250 Netphen
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 26.03.2001
Reg. data: 57072 Siegen, HRB 5443
Manager:
GapCon SRM Automation
GmbH
Walzwerkstr. 20
D 47877 Willich
Legal form: Private
limited company
Share capital: EUR 300,000.00
Registered
on: 24.02.2012
Reg. data: 47798 Krefeld, HRB 13813
Further functions/participations of Wolfgang
Mark (Manager)
Manager:
GapCon SRM Automation
GmbH
Walzwerkstr. 20
D 47877 Willich
Legal form: Private
limited company
Share capital: EUR 300,000.00
Registered
on: 24.02.2012
Reg. data: 47798 Krefeld, HRB 13813
24.01.2006 - 13.01.2011 GapCon GmbH
Am Meerkamp 19
D 40667 Meerbusch
Private limited
company
Main industrial sector
28950
Manufacture of machinery for paper and paperboard production
3312 Repair of machinery
4669 Wholesale of other machinery, equipment and
supplies
Shareholder:
GapCon SRM Automation
GmbH
Walzwerkstr. 20
D 47877 Willich
Legal form: Private
limited company
Company Status: active
Share capital: EUR 300,000.00
Share: EUR 300,000.00
Reg. data: 24.02.2012
Local court
47798 Krefeld
HRB 13813
Payment experience: within agreed terms
Negative information:We have no negative information
at hand.
BALANCE SHEET YEAR: 2012
Type of ownership: proprietor
Share: 100.00 %
Address Walzwerkstr. 20
D 47877 Willich
Land register documents were not available.
Principal bank
SPARKASSE SIEGEN, 57009 SIEGEN
Sort. code: 46050001
BIC: WELADED1SIE
Further bank
LANDESBANK BADEN-WÜRTTEMBERG/RHEINLAND-PFALZ
BANK, 55098 MAINZ A
RHEIN
Sort. code: 60050101
BIC: SOLADEST600
Turnover: 2012 EUR 25,907,133.00
Profit: 2012 EUR 678,866.00
Equipment: EUR 284,529.00
Ac/ts receivable: EUR 9,749,972.00
Liabilities: EUR 9,183,207.00
Total numbers of
vehicles:
12
Employees:
54
Balance sheet ratios
01.01.2012 - 31.12.2012
Equity ratio [%]: 31.18
Liquidity ratio: 1.07
Return on total capital
[%]: 3.93
Balance sheet ratios
01.01.2011 - 31.12.2011
Equity ratio [%]: 29.45
Liquidity ratio: 1.19
Return on total capital
[%]: 16.55
Balance sheet ratios
01.01.2010 - 31.12.2010
Equity ratio [%]: 25.38
Liquidity ratio: 1.85
Return on total capital
[%]: 9.08
Balance sheet ratios
01.01.2009 - 31.12.2009
Equity ratio [%]: 29.68
Liquidity ratio: 1.35
Return on total capital
[%]: 15.12
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 17,290,066.35
Fixed assets EUR 7,498,988.34
Intangible assets EUR 2,100.00
Concessions, licences,
rights EUR 2,100.00
Tangible assets EUR 5,278,585.35
Land / similar
rights EUR 4,288,758.35
Plant / machinery EUR 705,298.00
Other tangible assets /
fixtures and
fittings EUR 284,529.00
Financial assets EUR 2,218,302.99
Shares in participations
/
subsidiaries and the
like EUR 2,218,302.99
Shares in related
companies EUR 2,218,302.99
Current assets EUR 9,791,078.01
Stocks EUR 0.00
Raw materials,
consumables and
supplies EUR 568,842.91
Finished goods / work in
progress EUR 1,717,252.00
Advance payments
made EUR 71,592.73
Minus received advance
payments for
orders / installments
for stocks EUR -2,357,687.64
Accounts receivable EUR 9,749,971.70
Trade debtors EUR 7,618,332.34
Amounts due from related
companies EUR 2,019,932.00
Other debtors and
assets EUR 111,707.36
Liquid means EUR 41,106.31
LIABILITIES EUR 17,290,066.35
Shareholders' equity EUR 5,390,364.03
Capital EUR 1,000,000.00
Subscribed capital
(share capital) EUR 1,000,000.00
Balance sheet profit/loss
(+/-) EUR 4,390,364.03
Balance sheet profit /
loss EUR 4,390,364.03
Provisions EUR 2,716,495.40
Provisions for taxes EUR 1,077,795.00
Other / unspecified
provisions EUR 1,638,700.40
Liabilities EUR 9,183,206.92
Financial debts EUR 3,740,711.29
Liabilities due to
banks EUR 3,740,711.29
Other liabilities EUR 5,442,495.63
Trade creditors (for IAS
incl. bills
of exchange) EUR 977,873.35
Liabilities from
received advance
payments EUR 1,908,885.91
Liabililties due to
related companiesEUR
2,118,104.60
Unspecified other
liabilities EUR 437,631.77
thereof liabilities
from tax /
financial
authorities EUR 142,451.52
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 25,907,133.18
Inventory change + own
costs (+/-) EUR -3,001,948.00
Inventory change
(+/-) EUR -3,001,948.00
Other operating
income EUR 437,073.23
Cost of materials EUR 14,235,090.99
Raw materials and
supplies, purchased
goods EUR 12,137,246.13
Purchased services EUR 2,097,844.86
Gross result (+/-) EUR 9,107,167.42
Staff expenses EUR 4,223,613.89
Wages and salaries EUR 3,657,591.73
Social security
contributions and
expenses for pension
plans and
benefits EUR 566,022.16
Total depreciation EUR 287,046.03
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 287,046.03
Other operating
expenses EUR 3,395,604.74
Operating result from
continuing
operations EUR 1,200,902.76
Interest result (+/-) EUR -201,736.94
Interest and similar
income EUR 51,014.01
thereof from related
companies EUR 46,715.77
Interest and similar
expenses EUR 252,750.95
thereof paid to related
companies EUR 17,149.04
Financial result
(+/-) EUR -201,736.94
Result from ordinary
operations (+/-) EUR 999,165.82
Income tax / refund of
income tax (+/-)EUR -288,112.61
Other taxes / refund of
taxes EUR -32,187.33
Tax (+/-) EUR -320,299.94
Annual surplus / annual
deficit EUR 678,865.88
TYPE OF BALANCE SHEET: COMPANY BALANCE SHEET
FINANCIAL YEAR: 01.01.2011
- 31.12.2011
ASSETS EUR 16,846,359.69
Fixed assets EUR 4,612,913.01
Intangible assets EUR 5,648.00
Concessions, licences,
rights EUR 5,648.00
Tangible assets EUR 4,323,921.35
Land / similar
rights EUR 3,248,478.35
Plant / machinery EUR 784,877.00
Other tangible assets /
fixtures and
fittings EUR 290,566.00
Financial assets EUR 283,343.66
Shares in participations
/
subsidiaries and the
like EUR 283,343.66
Shares in related
companies EUR 283,343.66
Current assets EUR 12,233,446.68
Stocks EUR 2,144,352.04
Raw materials,
consumables and
supplies EUR 255,742.53
Finished goods / work in
progress EUR 4,719,200.00
Advance payments made EUR 397,465.75
Minus other deductible
items /
valuation adjustments of
stocks EUR -3,228,056.24
Accounts receivable EUR 9,995,317.84
Trade debtors EUR 8,067,372.50
Amounts due from related
companies EUR 445,071.15
Other debtors and
assets EUR 1,482,874.19
Liquid means EUR 93,776.80
LIABILITIES EUR 16,846,359.69
Shareholders' equity EUR 4,961,498.15
Capital EUR 1,000,000.00
Subscribed capital
(share capital) EUR 1,000,000.00
Balance sheet profit/loss
(+/-) EUR 3,961,498.15
Profit / loss brought
forward EUR 1,673,341.93
Annual surplus / annual
deficit EUR 2,788,156.22
withdrawn/distributed
EUR 500,000.00
Provisions EUR 3,371,472.50
Provisions for taxes EUR 1,165,676.00
Other / unspecified
provisions EUR 2,205,796.50
Liabilities EUR 8,513,389.04
Financial debts EUR 2,820,237.58
Liabilities due to
banks EUR 2,820,237.58
Other liabilities EUR 5,693,151.46
Trade creditors (for IAS
incl. bills
of exchange) EUR 1,516,278.49
Liabililties due to
related companiesEUR
3,731,503.69
Unspecified other
liabilities EUR 445,369.28
thereof liabilities
from tax /
financial authorities EUR 216,589.93
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 28,441,203.46
Inventory change + own
costs (+/-) EUR 2,529,709.50
Inventory change (+/-) EUR 2,480,579.00
Capitalised own
costs EUR 49,130.50
Other operating
income EUR 121,975.95
Cost of materials EUR 18,529,474.50
Raw materials and
supplies, purchased
goods EUR 16,723,310.75
Purchased services EUR 1,806,163.75
Gross result (+/-) EUR 12,563,414.41
Staff expenses EUR 4,086,865.81
Wages and salaries EUR 3,592,758.61
Social security
contributions and
expenses for pension
plans and
benefits EUR 494,107.20
Total depreciation EUR 258,232.17
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 258,232.17
Other operating
expenses EUR 4,018,929.47
Operating result from
continuing
operations EUR 4,199,386.96
Interest result (+/-) EUR -170,048.78
Interest and similar
income EUR 37,097.54
thereof from related
companies EUR 7,330.00
Interest and similar
expenses EUR 207,146.32
thereof paid to related
companies EUR 45,942.10
Financial result
(+/-) EUR
-170,048.78
Result from ordinary
operations (+/-) EUR 4,029,338.18
Income tax / refund of
income tax (+/-)EUR -1,227,093.60
Other taxes / refund of
taxes EUR -14,088.36
Tax (+/-) EUR -1,241,181.96
Annual surplus / annual
deficit EUR 2,788,156.22
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.18 |
|
|
1 |
Rs.102.68 |
|
Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.