|
Report Date : |
30.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
VOGTLÄNDISCHE HEIMTEXTILIEN GMBH |
|
|
|
|
Registered Office : |
Hauptstr.
30, D 08606 Tirpersdorf |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.02.1958 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
·
Manufacturing of Knitted and Crocheted Fabrics ·
Manufacture of Made-Up Textiles [Except Apparel] ·
Agents Involved in the Sale of Soft Furnishings |
|
|
|
|
No. of Employees : |
77 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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, 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 |
VOGTLÄNDISCHE HEIMTEXTILIEN GMBH
Company Status: active
Hauptstr. 30
D 08606 Tirpersdorf
Telephone: 037463/8420
Telefax: 037463/84230
Homepage: www.vhg.de
E-mail: kontakt@vhg.de
Trade name: "VHG
Vogtländische Heimtextilien"
VAT no.: DE141245287
Tax ID number: 223/121/00065
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 14.02.1958
Shareholders'
agreement: 22.10.1991
Registered on: 15.11.1991
Commercial Register: Local court 09112 Chemnitz
under: HRB
3489
Share capital: EUR 517,150.00
Shareholder: Rudolf Rudert
Brotenfelder Str. 13
D 08606 Tirpersdorf
born: 29.06.1944
Share: EUR 193,800.00
Shareholder: Amandus Prochnau
Bachstr. 11
D 08606 Tirpersdorf
born: 12.02.1939
Share: EUR 193,750.00
Shareholder: BSV-Beteiligungsgesellschaft der
Sparkasse
Vogtland mbH
Dr.-Friedrichs-Str. 37
D 08606 Oelsnitz
Legal form: Private
limited company
Share capital: EUR 5,000,000.00
Share: EUR 129,600.00
Registered on: 09.10.1998
Reg. data: 09112
Chemnitz, HRB 16093
Manager:
Cindy Stucke
Brotenfelder Str. 13a
D 08606 Tirpersdorf
having sole power of
representation
born: 03.09.1973
née: Rudert
Profession: Balance sheet
accountant
Marital status: married
Manager: Thomas Prochnau
Hauptstr. 34
D 08606 Tirpersdorf
having sole power of
representation
born: 06.04.1971
Profession: licenced
technician
14.02.1958 - 1971 PGH Heimtextilien
Hauptstr. 30
D 08606 Tirpersdorf
Other legal form
1972 - 21.10.1991 VEB Tischdeckenwerk Kottengrün
Betriebsteil Tirpersdorf
Hauptstr. 30
D
08606 Tirpersdorf
Other legal form
Main industrial sector
13910
Manufacturing of knitted and crocheted fabrics
Secondary industrial sector
1392
Manufacture of made-up textiles (except apparel)
46162
Agents involved in the sale of soft furnishings
Payment experience: within periods customary in this trade
Negative information:We have no negative
information at hand.
Type of ownership: proprietor
Share: 100.00 %
Address Hauptstr. 30
D 08606 Tirpersdorf
Land register documents were not available.
Principal bank
COMMERZBANK VORMALS DRESDNER BANK, 08507
PLAUEN, VOGTL
Sort. code: 87080000, Account no.: 690055000
BIC: DRESDEFF870, IBAN: DE95870800000690055000
Further banks
SPARKASSE VOGTLAND, 08606 OELSNITZ /VOGTL.
Sort. code: 87058000, Account no.: 3725000092
BIC: WELADED1PLX, IBAN: DE07870580003725000092
COMMERZBANK, 09004 CHEMNITZ, SACHS
Sort. code: 87040000, Account no.: 500256300
BIC: COBADEFFXXX, IBAN: DE94870400000500256300
DEUTSCHE BANK PRIVAT UND GESCHÄFTSKUNDEN,
08505 PLAUEN, VOGTL
Sort. code: 87070024, Account no.: 294164900
BIC: DEUTDEDBCHE, IBAN: DE77870700240294164900
VR BANK HOF, 95028 HOF, SAALE
Sort. code: 78060896, Account no.: 3511715
BIC: GENODEF1HO1, IBAN: DE36780608960003511715
Turnover: 2012 EUR 6,171,145.00
2013 EUR
6,188,420.00
Profit: 2012 EUR -562,588.00
2013 EUR 230,856.00
further business figures:
Equipment: EUR 42,603.00
Ac/ts receivable: EUR 264,392.00
Liabilities: EUR 1,391,600.00
Employees:
77
- thereof permanent staff: 73
- Part-time employees: 4
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 23.22
Liquidity ratio: 0.23
Return on total capital [%]: 0.72
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 20.39
Liquidity ratio: 0.24
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 29.09
Liquidity ratio: 0.19
Return on total capital [%]: 2.67
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 26.41
Liquidity ratio: 0.15
Return on total capital [%]: 14.66
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: 01.01.2013
- 31.12.2013
ASSETS EUR 3,367,979.97
Fixed assets
EUR 1,255,201.61
Intangible assets
EUR 35,636.00
Concessions, licences, rights
EUR 35,636.00
Tangible assets EUR 1,219,565.61
Land / similar rights
EUR 900,826.59
Plant / machinery
EUR 276,136.51
Other tangible assets / fixtures and
fittings
EUR 42,602.51
Current assets
EUR 2,098,337.96
Stocks
EUR 1,579,562.93
Raw materials, consumables and
supplies
EUR 890,643.02
Finished goods / work in progress
EUR 688,919.91
Accounts receivable
EUR 264,391.79
Trade debtors
EUR 249,285.45
Other debtors and assets
EUR 15,106.34
Liquid means
EUR 254,383.24
Remaining other assets
EUR 14,440.40
Accruals (assets)
EUR 14,440.40
LIABILITIES EUR 3,367,979.97
Shareholders' equity
EUR 782,087.02
Capital
EUR 517,150.00
Subscribed capital (share capital)
EUR 517,150.00
Reserves EUR 34,080.89
Retained earnings / revenue reserves EUR 34,080.89
Balance sheet profit/loss (+/-)
EUR 230,856.13
Balance sheet profit / loss
EUR 230,856.13
Items between shareholders' equity and
debt capital
EUR 1,096,229.70
Mezzanine financing
EUR 1,096,229.70
Contributions of silent partners
EUR 1,096,229.70
Provisions EUR 98,062.78
Other / unspecified provisions
EUR 98,062.78
Liabilities
EUR 1,391,600.47
Financial debts
EUR 421,006.32
Liabilities due to banks
EUR 421,006.32
Other liabilities
EUR 970,594.15
Trade creditors (for IAS incl. bills
of exchange)
EUR 441,521.56
Unspecified other liabilities
EUR 529,072.59
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 6,188,420.22
Inventory change + own costs (+/-)
EUR -50,862.08
Inventory change (+/-)
EUR -50,862.08
Other operating income
EUR 140,161.37
Cost of materials
EUR 3,054,643.31
Raw materials and supplies, purchased
goods EUR 3,012,648.68
Purchased services
EUR 41,994.63
Gross result (+/-)
EUR 3,223,076.20
Staff expenses
EUR 1,361,268.56
Wages and salaries
EUR 1,127,517.08
Social security contributions and
expenses for pension plans and
benefits
EUR 233,751.48
Total depreciation
EUR 172,406.36
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 172,406.36
Other operating expenses
EUR 1,486,324.34
Operating result from continuing
operations EUR 203,076.94
Interest result (+/-)
EUR -171,077.19
Interest and similar income
EUR 8,019.27
Interest and similar expenses
EUR 179,096.46
Financial result (+/-)
EUR -171,077.19
Result from ordinary operations (+/-)
EUR 31,999.75
Extraordinary income
EUR 206,613.33
Extraordinary result (+/-)
EUR 206,613.33
Other taxes / refund of taxes
EUR -7,756.95
Tax (+/-)
EUR -7,756.95
Annual surplus / annual deficit
EUR 230,856.13
Type of balance
sheet:
Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 3,562,274.98
Fixed assets
EUR 1,380,294.61
Intangible assets
EUR 48,503.00
Tangible assets
EUR 1,331,791.61
Current assets
EUR 2,153,718.30
Stocks
EUR 1,541,162.81
Accounts receivable EUR 305,373.30
Liquid means
EUR 307,182.19
Remaining other assets
EUR 28,262.07
Accruals (assets)
EUR 28,262.07
LIABILITIES EUR 3,562,274.98
Shareholders' equity
EUR 551,230.89
Capital
EUR 517,150.00
Subscribed capital (share capital)
EUR 517,150.00
Reserves
EUR 34,080.89
Retained earnings / revenue reserves EUR 34,080.89
Items between shareholders' equity and
debt capital
EUR 1,154,229.70
Mezzanine financing
EUR 1,154,229.70
Contributions of silent partners
EUR 1,154,229.70
Provisions
EUR 94,666.38
Liabilities
EUR 1,762,148.01
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.