|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
K. LUDWIG GESELLSCHAFT M.B.H. |
|
|
|
|
Registered Office : |
Hermann Gebauerstraße 11, A-1220 Wien |
|
|
|
|
Country : |
Austria |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
11.08.1975 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale and retail trade; repair of motor vehicles |
|
|
|
|
No. of Employees |
323 (approx.) |
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 : |
No Complaints |
|
|
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Austria |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its well-developed market economy, skilled
labor force, and high standard of living, is closely tied to other EU
economies, especially Germany's. Its economy features a large service sector, a
sound industrial sector, and a small, but highly developed agricultural sector.
Following several years of solid foreign demand for Austrian exports and record
employment growth, the international financial crisis of 2008 and subsequent
global economic downturn led to a sharp but brief recession. Austrian GDP
contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in
2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in
Austria as elsewhere in Europe, partly because the government subsidized
reduced working hour schemes to allow companies to retain employees. The 2012
unemployment rate of 4.3% was the lowest within the EU. Stabilization measures,
stimulus spending, and an income tax reform pushed the budget deficit to 4.5%
in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international
financial crisis of 2008 caused difficulties for Austria's largest banks whose
extensive operations in central, eastern, and southeastern Europe faced large
losses. The government provided bank support - including in some instances,
nationalization - to support aggregate demand and stabilize the banking system.
Austria's fiscal position compares favorably with other euro-zone countries,
but it faces external risks, such as Austrian banks' continued exposure to
Central and Eastern Europe as well as political and economic uncertainties
caused by the European sovereign debt crisis. In 2011 the government attempted
to pass a constitutional amendment limiting public debt to 60% of GDP by 2020,
but it was unable to obtain sufficient support in parliament and instead passed
the measure as a simple law. In March 2012, the Austrian parliament approved an
austerity package consisting of a mix of expenditure cuts and new revenues that
will bring public finances into balance by 2016. In 2012, the budget deficit
rose to 3.1% of GDP.
|
Source
: CIA |
|
Company name: |
K. LUDWIG GESELLSCHAFT M.B.H. |
|
Status: |
active company |
|
Locations: |
Hermann Gebauerstraße 11, A-1220 Wien |
|
Phone: |
0043 (1) 73248 |
|
Fax: |
0043 (1) 73248 - 214 |
|
E-mail: |
info@ludwig.eu |
|
Internet: |
http://www.ludwig.eu |
|
Activities: |
Önace 47592 65% Retail sale of household furniture in specialised
stores |
|
|
Önace 47599 10% Retail sale of other household articles n.e.c. in
specialised stores |
|
|
Önace 47530 10% Retail sale of carpets, rugs, wall and floor coverings
in specialised stores |
|
|
Önace 56101 5% Restaurants |
|
|
Önace 47789 5% Other retail sale of new goods n.e.c. in specialised
stores |
|
|
Önace 47710 5% Retail sale of clothing in specialised stores |
|
|
|
|
General Assessment: |
Model: CompanyScore |
|
Probability of Default (Basel II): |
0,07% Very low risk |
|
comparison: |
The Rating of this company is better than industry average. |
|
Recommendation: |
In respect to solvency reasons, there is nothing to say against an
establishment of a business relationship. |
|
Year of incorporation: |
1975 |
|
||||
|
Activities: |
|
|
||||
|
Type of company: |
Wholesale and retail trade; repair of motor vehicles |
|
||||
|
Legal form: |
limited liability company since 1975-08-11 |
|
||||
|
companies' house number: |
FN 113378 h Wien 1975-08-26 |
|
||||
|
Trade names: |
MÖBEL LUDWIG |
|
||||
|
VAT number: |
ATU 14619402 |
|
||||
|
number - Austrian National Bank: |
66460 |
|
||||
|
|
||||||
|
Import |
Country |
|
|
|
||
|
Import |
Germany |
|
2014 |
|
||
|
|
||||
|
Export |
Country |
|
|
|
|
Export |
Bulgaria |
|
2014 |
|
Financial data:
|
total turnover (total sales) |
2013 |
EUR 50.000.000,00 |
(estimated) |
|
total turnover (total sales) |
2012 |
EUR 49.341.000,00 |
(approx.) |
|
total turnover (total sales) |
2011 |
EUR 49.589.000,00 |
(approx.) |
|
total turnover (total sales) |
2010 |
EUR 49.342.000,00 |
(approx.) |
|
total turnover (total sales) |
2009 |
EUR 48.820.152,37 |
(exact) |
|
total employees |
2014 |
323 |
(approx.) |
|
total company vehicles |
2014 |
50 |
(approx.) |
|
cars |
2014 |
18 |
(approx.) |
|
lorries up to 3.5t |
2014 |
32 |
(approx.) |
Extraxt from the Companies' House:
|
firm (style): |
|
1 K. Ludwig Gesellschaft
m.b.H. |
|
legal form: |
|
1 Gesellschaft mit
beschränkter Haftung |
|
registered
office: |
|
1 politischer Gemeinde Wien |
|
business adress: |
|
7 Hermann-Gebauer-Straße 11 |
|
capital: |
|
1 ATS 3.000.000 |
|
reference date
annual accounts: |
|
1 31. Dezember |
|
annual accounts: |
|
22 zum 31.12.2012
eingereicht am 27.09.2013 |
|
power of
representation: |
|
1 Die Gesellschaft wird,
wenn mehrere Geschäftsführer |
|
proxy: |
|
G
Johann Schaffer, geb. 03.07.1949 |
|
managing
director: |
|
A Josef Frischeis, geb.
19.08.1945 |
|
shareholder: |
|
B Mag Josef Frischeis, geb.
29.12.1966 |
|
general table: |
|
Handelsgericht Wien |
Real estate:
|
Registration number of real estate
3938 Cadastral register 01660 Kagran W Number and
date of entry 4559/2013 Status of 2014-03-24 |
|
Part A - type of
real estate : |
|
GST-NR G BA (NUTZUNG) FLÄCHE GST-ADRESSE |
|
Part B -
ownership details : |
|
1 ANTEIL: 67/100 |
|
Part C -
registered charges : |
|
4 a 2900/2008 |
Private data:
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as registered in the companies' house) |
|
KR Josef Frischeis |
1945-08-19 |
Stockerau Lenaustraße 22 |
manager |
5 |
|
Mag. Josef Frischeis |
1966-12-29 |
2000 Stockerau Am Neubau 63 |
manager, partner, head of sales, head of marketing |
2 |
|
Mag. Hubert Meindl |
1969-03-18 |
1160 Wien Liebknechtgasse 2 |
manager, head of purchasing |
0 |
|
Barbara Frischeis |
1981-06-09 |
2000 Stockerau Lenaustraße 22 |
partner |
2 |
|
Mag. Susanne Persico |
1969-04-27 |
2000 Stockerau Hauptstraße 38-42 |
partner |
5 |
|
Johann Schaffer |
1949-07-03 |
2100 Leobendorf Siedlerstraße 1 |
joint signing clerk, head of accounting |
0 |
Balance Sheet (absolute) all amounts in EUR
|
|
2012-12-31 |
|
|
|
|
|
Franchises, patents, licences, trademarks and similar rights and
advantages |
30.531,40 |
|
|
|
|
|
Sum intangible assets |
30.531,40 |
|
|
|
|
|
|
|||||
|
Land with buildings (building value) |
31.980.816,65 |
|
|
|
|
|
Other operating and business equipment |
1.167.010,08 |
|
|
|
|
|
Technical plants and machines |
106.128,93 |
|
|
|
|
|
Advanced payments and constructions in progress |
65.302,68 |
|
|
|
|
|
Sum tangible assets |
33.319.258,34 |
|
|
|
|
|
|
|||||
|
Shares on related firms |
2.997.556,13 |
|
|
|
|
|
Other financial assets, values and securities of fixed assets |
329.845,09 |
|
|
|
|
|
Sum financial assets |
3.327.401,22 |
|
|
|
|
|
|
|||||
|
Sum fixed assets |
36.677.190,96 |
|
|
|
|
|
|
|||||
|
Finished products |
5.805.501,63 |
|
|
|
|
|
Sum stock |
5.805.501,63 |
|
|
|
|
|
|
|||||
|
Claims from delivered goods and performed services |
403.401,55 |
|
|
|
|
|
Claims against related firmes Claims against companies with
shareholding relationship |
234.251,57 |
|
|
|
|
|
Special account claims |
617.950,44 |
|
|
|
|
|
Sum claims |
1.255.603,56 |
|
|
|
|
|
|
|||||
|
Cash on hand, cheques and bank deposits |
571.342,48 |
|
|
|
|
|
Sum cash and bank |
571.342,48 |
|
|
|
|
|
|
|||||
|
Sum current assets |
7.632.447,67 |
|
|
|
|
|
|
|||||
|
Assets |
44.309.638,63 |
|
|
|
|
|
|
|||||
|
Subscribed/declared capital |
218.018,50 |
|
|
|
|
|
Legal reserves |
21.801,85 |
|
|
|
|
|
Free reserves |
2.907.007,54 |
|
|
|
|
|
Balance sheet profit/balance sheet loss |
20.884.759,70 |
|
|
|
|
|
Thereof profit/loss carried forward |
19.298.597,68 |
|
|
|
|
|
Sum equity capital |
24.031.587,59 |
|
|
|
|
|
|
|||||
|
Valuation reserves and other reserves before taxes |
2.299.843,29 |
|
|
|
|
|
Sum reserves before taxes |
2.299.843,29 |
|
|
|
|
|
|
|||||
|
Reserves for severance pays |
593.622,00 |
|
|
|
|
|
Reserves for pensions |
544.601,00 |
|
|
|
|
|
Other reserves |
1.382.970,74 |
|
|
|
|
|
Sum reserves |
2.521.193,74 |
|
|
|
|
|
|
|||||
|
Liabilities against credit institutes |
3.343.498,60 |
|
|
|
|
|
Received advanced payments for orders |
2.993.265,70 |
|
|
|
|
|
Liabilities from delivered goods and performed services |
2.511.336,16 |
|
|
|
|
|
Other liabilities |
6.608.913,55 |
|
|
|
|
|
Sum liabilities |
15.457.014,01 |
|
|
|
|
|
|
|||||
|
Liabilities |
44.309.638,63 |
|
|
|
|
|
|
|||||
|
Balance sheet sum |
44.309.638,63 |
|
|
|
|
P / L Account (absolute) all amounts in EUR
|
|
2012-12-31 |
|
|
|
|
|
Gross profit |
23.172.698,12 |
|
|
|
|
|
Total turnover or gross profit |
23.172.698,12 |
|
|
|
|
|
|
|||||
|
Income from dissolution of reserves |
386.705,26 |
|
|
|
|
|
Other operating profits |
2.518.725,62 |
|
|
|
|
|
Other operating profits totally |
2.905.430,88 |
|
|
|
|
|
|
|||||
|
Wages |
-2.226.728,02 |
|
|
|
|
|
Salaries |
-5.540.566,54 |
|
|
|
|
|
Costs for severance pays |
-136.495,75 |
|
|
|
|
|
Costs for old age pension |
-81.265,00 |
|
|
|
|
|
Legal fringe benefits and other payments depending on salaries |
-2.206.896,39 |
|
|
|
|
|
Other social fringe benefits |
-18.268,13 |
|
|
|
|
|
Personnel expenses totally |
-10.210.219,83 |
|
|
|
|
|
|
|||||
|
Depreciation of intangible assets, tangible assets,activated expenses
for the set up and expansion of business operation |
-1.472.579,02 |
|
|
|
|
|
Depreciation tangible assets / intangible assets totally |
-1.472.579,02 |
|
|
|
|
|
|
|||||
|
Other operating costs |
-11.949.751,07 |
|
|
|
|
|
Other taxes |
-103.285,07 |
|
|
|
|
|
Total costs |
-12.053.036,14 |
|
|
|
|
|
|
|||||
|
Operating result totally |
2.342.294,01 |
|
|
|
|
|
|
|||||
|
Income from other securities and loans of financial assets |
51.342,04 |
|
|
|
|
|
Interest income, securties income and similar income |
15.210,92 |
|
|
|
|
|
Profits from the retirement of and investment in financial
assets |
298.392,81 |
|
|
|
|
|
Disbursements from other financial assets and from securities of
current assets (e.g. depreciations) |
-394.228,15 |
|
|
|
|
|
Interest and similar disbursements |
-76.485,95 |
|
|
|
|
|
Financial profits totally |
-105.768,33 |
|
|
|
|
|
|
|||||
|
Results from usual business activity totally |
2.236.525,68 |
|
|
|
|
|
|
|||||
|
Taxes on income and profits |
-653.152,45 |
|
|
|
|
|
Taxes on income and profits totally |
-653.152,45 |
|
|
|
|
|
Annual surplus/annual deficit totally |
1.583.373,23 |
|
|
|
|
|
|
|||||
|
Dissolution reserves before taxes |
2.788,79 |
|
|
|
|
|
Reserves movements totally |
2.788,79 |
|
|
|
|
|
Annual profit/annual loss totally |
1.586.162,02 |
|
|
|
|
|
|
|||||
|
Profit and loss carried forward from previous year |
19.298.597,68 |
|
|
|
|
|
Transfer of profits totally |
19.298.597,68 |
|
|
|
|
|
B/S profit/ B/S loss from profit and loss account |
20.884.759,70 |
|
|
|
|
Key ratios
|
|
2012 |
|
|
|
|
|
|
Cash flow II |
3.055.952,25 |
|
|
|
|
|
|
Debt amortisation period |
4,71 |
|
|
|
|
|
|
Bank indebtedness |
7,54 |
|
|
|
|
|
|
Equity capital share |
63,73 |
|
|
|
|
|
|
Social capital share |
2,56 |
|
|
|
|
|
|
Fixed assets coverage |
74,89 |
|
|
|
|
|
|
Net profit ratio |
0,00 |
|
|
|
|
|
|
Capital turnover |
0,00 |
|
|
|
|
|
|
Return on investment |
5,22 |
|
|
|
|
|
|
Cash flow in % of operating performance |
0,00 |
|
|
|
|
|
|
Cash flow I |
3.709.104,70 |
|
|
|
|
|
|
Gross productivity |
0,00 |
|
|
|
|
|
|
Net productivity |
0,00 |
|
|
|
|
|
|
Operating performance |
0,00 |
|
|
|
|
|
|
Inventories in % of operating performance |
0,00 |
|
|
|
|
|
|
Gross profit |
23.172.698,12 |
|
|
|
|
|
|
Type |
Locations |
Description |
|
|
|
E-mail |
|
operational |
Hermann Gebauerstraße 11, A-1220 Wien |
registered office |
|
|
|
|
|
operational |
Hermann Gebauerstraße 11, A-1220 Wien |
registered headquarters, owned property |
|
|
|
info@ludwig.eu |
|
operational |
Pragerstraße 101-105, A-1210 Wien |
branch office, rented premises |
|
|
|
|
|
operational |
Altmannsdorferstraße 79-81, A-1120 Wien |
branch office, owned property |
|
|
|
|
|
operational |
Katharinengasse 1, A-1100 Wien |
branch office, rented premises |
|
|
|
|
|
former |
Pragerstraße 101-103, A-1210 Wien |
registered office |
|
|
|
|
|
former |
Horner Bundesstraße 76-82, A-2000 Stockerau |
registered headquarters |
|
|
|
|
|
former |
Horner Bundesstraße 76-82, A-2000 Stockerau |
branch office |
|
|
|
|
|
former |
Linzerstraße 171, A-1140 Wien |
registered headquarters |
|
|
|
|
related companies:
|
Company name |
Postal code |
Stake in % |
Companies House |
|
|
Shares in this company are held by: |
|
|||
|
Mag. Josef Frischeis |
Am Neubau 63, A-2000 Stockerau |
74 % 1994-08-18 |
|
|
|
Barbara Frischeis |
Lenaustraße 22, A-2000 Stockerau |
9 % 2003-05-27 |
|
|
|
Mag. Susanne Persico |
Hauptstraße 38-42/23, A-2000 Stockerau |
9 % 1994-08-18 |
|
|
|
Chic Realitätenverwaltungs- gesellschaft m.b.H. |
Hermann-Gebauer-Straße 11, A-1220 Wien |
8 % 1994-08-18 |
FN 114064 t |
|
|
|
|
|||
|
Affiliated companies and further participations: |
|
|||
|
Josef Frischeis Gesellschaft m.b.H. |
Lenaustraße 22, A-2000 Stockerau |
|
FN 61671 v |
|
|
Holzhof Gutsbetriebs- gesellschaft m.b.H. |
Gegend 32, A-2663 Rohr Gebirge |
|
FN 111706 z |
|
|
JOJO-WerbegesmbH |
Hermann Gebauerstraße 11, A-1220 Wien |
|
FN 219222 k |
|
Bankers:
|
|
|
|
|
|
Banker |
Bank sort code |
Type of banking connection |
|
|
UniCredit Bank Austria AG, 2000 Stockerau |
12000 |
main bank connection |
|
|
Erste Bank der oesterreichischen Sparkassen AG, 1011 Wien |
20111 |
secondary banking connection |
|
|
RAIFFEISENLANDESBANK NIEDERÖSTERREICH-WIEN AG, 1011 Wien |
32000 |
secondary banking connection |
|
|
|
|
||
Historical development:
|
Year of incorporation: |
1975 |
|
Date of registration: |
1975-08-26 |
|
Former shareholders: |
|||
|
From |
To |
Function |
Name |
|
1994-08-18 |
2003-05-27 |
partner |
Josef Frischeis |
|
Former shareholdings: |
||
|
From |
To |
Name |
|
|
|
WOHNREGION Handelsgesellschaft m.b.H. |
|
1993-12-22 |
1998-06-20 |
Concorde Austria Handels- GesmbH in Liqu. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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.