|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPINDELFABRIK SÜSSEN GMBH |
|
|
|
|
Registered Office : |
Donzdorfer Str. 4, D 73079 Sussen |
|
|
|
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Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2012 |
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Year of Establishment : |
1920 |
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|
|
Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
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|
|
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No of Employees : |
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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 |
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|
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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 – 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 |
Donzdorfer Str. 4
D 73079 Süßen
Telephone:07162/15-0
Telefax: 07162/15-367
Homepage: www.suessen.com
E-mail: mail@suessen.com
Active
DE145457987
LEGAL FORM Private
limited company
Date of foundation: 1920
Shareholders'
agreement: 07.12.1920
Registered on: 15.03.1921
Commercial Register: Local court 89073 Ulm
under: HRB
540114
Share capital: EUR 5,050,100.00
Shareholder:
Rieter Deutschland GmbH
& Co. OHG
Friedrich-Ebert-Str. 84
D 85055 Ingolstadt
Legal form: General
partnership with private
limited company as partner
Share: EUR 5,050,100.00
Registered on: 28.12.1990
Reg. data: 85049
Ingolstadt, HRA 940
Manager:
Peter Wilhelm Stahlecker
D 73054 Eislingen
born: 23.06.1955
Profession: Engineer
Marital status: married
Manager:
Roland Eberhardt
Forchenweg 2
D 71272 Renningen
having sole power of
representation
born: 14.09.1962
Proxy:
Werner Kurt Strasser
CH - Steckborn
authorized to jointly
represent the company
born: 04.04.1954
Nationality: Swiss
Proxy:
Nanette Haubensak
Volkmarstr. 11
CH 8006 Zürich
authorized to jointly
represent the company
born: 13.08.1969
Proxy:
Wolfgang Herbert Siegfried
Lehner
D 73054 Eislingen
authorized to jointly
represent the company
born: 01.10.1964
Further functions/participations of Peter Wilhelm Stahlecker (Manager)
Shareholder:
BTG
Verwaltungsgesellschaft mbH
Mozartstr. 41
D 73072 Donzdorf
Legal form: Private
limited company
Share capital: EUR 26,075.88
Share: EUR 13,037.94
Registered
on: 11.06.1992
Reg. data: 89073 Ulm, HRB 540839
Further functions/participations of Roland Eberhardt (Manager)
Manager:
Wilhelm Stahlecker GmbH
Donzdorfer Str. 4
D 73079 Süßen
Legal form: Private
limited company
Share capital: EUR 255,645.94
Registered
on: 03.08.1949
Reg. data:
89073 Ulm, HRB 540123
24.08.2004 - 27.06.2005 Spindelfabrik
Süssen, Schurr, Stahlecker
& Grill
GmbH
Dammstr. 1
D 73079 Süßen
Private
limited company
01.03.2011 - 26.11.2012 Manager
Harald
Szczepanek
D 91161
Hilpoltstein
Main industrial sector
28940
Manufacture of machinery for textile, apparel and leather production
Works:
Spindelfabrik Süssen GmbH
Donzdorfer Str. 65
D 73079 Süßen
TEL.: 07162/15-0
Payment experience: within agreed terms
Negative information: We have no negative
information at hand.
The maximum credit is our recommendation for
the maximum credit limit for the inquired
company.
Balance sheet year: 2012
Type of ownership: proprietor
Share: 100.00 %
Address Donzdorfer
Str. 4
D 73079 Süßen
Type of ownership: proprietor
Share: 100.00 %
Address Donzdorfer
Str. 65
D 73079 Süßen
Real Estate of: Roland
Eberhardt
Type of ownership: Tenant
Address Forchenweg
2
D
71272 Renningen
Land register documents were not available.
Principal bank
COMMERZBANK, 73002 GÖPPINGEN
Sort. code: 61040014
BIC: COBADEFF610
Further banks
DEUTSCHE BANK, 73003 GÖPPINGEN
Sort. code: 61070078
BIC: DEUTDESS610
KREISSPARKASSE GÖPPINGEN, 73007 GÖPPINGEN
Sort. code: 61050000
BIC: GOPSDE6GXXX
POSTBANK, 70148 STUTTGART
Sort. code: 60010070
BIC: PBNKDEFFXXX
Turnover:
2012 EUR 68,628,257.00
Profit:
2012 EUR 3,085,971.00
Equipment: EUR 2,169,881.00
Ac/ts receivable: EUR 7,000,024.00
Liabilities: EUR 20,270,332.00
Total numbers of vehicles: 5
- Lorries:
1
- Passenger cars:
4
Employees:
228
- thereof permanent staff: 208
- Trainees:
15
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 38.13
Liquidity ratio: 0.35
Return on total capital [%]: 7.18
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 61.34
Liquidity ratio: 0.88
Return on total capital [%]: 14.45
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 59.82
Liquidity ratio: 1.05
Return on total capital [%]: 14.28
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 50.91
Liquidity ratio: 0.30
Return on total capital [%]: -17.30
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: 01.01.2012 -
31.12.2012
ASSETS EUR 45,691,544.41
Fixed
assets EUR 27,815,631.18
Intangible
assets EUR 83,261.00
Concessions, licences, rights
EUR 83,261.00
Tangible
assets EUR 6,624,796.15
Land /
similar rights EUR 798,556.40
Plant /
machinery EUR 3,244,812.59
Other
tangible assets / fixtures and
fittings
EUR 2,169,881.41
Advance
payments made / construction
in
progress
EUR 411,545.75
Financial
assets EUR 21,107,574.03
Shares in
participations /
subsidiaries and the like
EUR 16,307,574.03
Shares in
related companies EUR 16,307,574.03
Loans to
participations /
subsidiaries and the like
EUR 4,800,000.00
Loans to
related companies EUR 4,800,000.00
Current
assets EUR 17,860,546.20
Stocks EUR 10,588,331.89
Raw materials,
consumables and
supplies
EUR 4,801,504.71
Finished
goods / work in progress EUR 5,786,827.18
Accounts
receivable EUR 7,000,023.59
Trade
debtors EUR 3,398,123.96
Amounts due
from related companies EUR 3,275,797.63
Other
debtors and assets EUR 326,102.00
Liquid
means EUR 272,190.72
Remaining
other assets EUR 15,367.03
Accruals
(assets) EUR 15,367.03
LIABILITIES EUR 45,691,544.41
Shareholders'
equity EUR 17,408,409.75
Capital EUR 5,050,100.00
Subscribed
capital (share capital) EUR 5,050,100.00
Reserves
EUR 15,982,286.22
Capital
reserves EUR 15,912,937.22
Retained
earnings / revenue reserves EUR
69,349.00
Balance
sheet profit/loss (+/-) EUR -3,623,976.47
Profit /
loss brought forward EUR -6,709,946.99
Annual
surplus / annual deficit EUR 3,085,970.52
Provisions EUR 8,012,803.10
Pension
provisions and comparable
provisions
EUR 5,164,182.60
Other /
unspecified provisions EUR 2,848,620.50
Liabilities
EUR 20,270,331.56
Other
liabilities EUR 20,270,331.56
Trade
creditors (for IAS incl. bills
of
exchange)
EUR 2,284,788.95
Liabilities
from received advance
payments
EUR 733,554.92
Liabililties due to related companiesEUR 15,352,044.81
Unspecified
other liabilities EUR 1,899,942.88
thereof
liabilities from tax /
financial
authorities EUR 155,356.11
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm. Code
(HGB)
Sales EUR 68,628,256.91
Inventory
change + own costs (+/-) EUR 230,241.11
Inventory
change (+/-) EUR 192,368.25
Capitalised
own costs EUR 37,872.86
Other
operating income EUR 508,314.25
Cost of
materials EUR 36,509,895.54
Raw
materials and supplies, purchased
goods EUR 28,477,053.11
Purchased
services EUR 8,032,842.43
Gross result
(+/-) EUR 32,856,916.73
Staff
expenses EUR 13,343,123.68
Wages and
salaries EUR 11,133,077.53
Social
security contributions and
expenses for
pension plans and
benefits
EUR 2,210,046.15
Total
depreciation EUR 1,464,137.42
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 1,464,137.42
Other
operating expenses EUR
13,553,975.02
Operating
result from continuing
operations EUR 4,495,680.61
Interest
result (+/-) EUR -1,112,677.22
Interest and
similar income EUR 52,296.54
Interest and
similar expenses EUR 1,164,973.76
Other
financial result EUR 231,404.65
Income from
securities and loans from
financial
assets EUR 231,404.65
Financial
result (+/-) EUR -881,272.57
Result from
ordinary operations (+/-) EUR 3,614,408.04
Extraordinary
expenses EUR 194,984.20
Extraordinary
result (+/-) EUR -194,984.20
Income tax /
refund of income tax (+/-)EUR
-288,138.29
Other taxes /
refund of taxes EUR -45,315.03
Tax
(+/-)
EUR -333,453.32
Annual
surplus / annual deficit EUR 3,085,970.52
Type of balance sheet:
Company balance sheet
Financial year: 01.01.2011 -
31.12.2011
ASSETS EUR 44,776,949.75
Fixed
assets EUR 27,209,396.84
Intangible
assets EUR 10,678.00
Concessions, licences, rights
EUR 10,678.00
Tangible
assets EUR 6,091,144.81
Land /
similar rights EUR 868,423.40
Plant /
machinery EUR 3,065,189.00
Other
tangible assets / fixtures and
fittings
EUR 1,715,414.00
Advance
payments made / construction
in
progress
EUR 442,118.41
Financial
assets EUR 21,107,574.03
Shares in
participations /
subsidiaries and the like
EUR 16,307,574.03
Shares in
related companies EUR 16,307,574.03
Loans to
participations /
subsidiaries and the like
EUR 4,800,000.00
Loans to
related companies EUR 4,800,000.00
Current
assets EUR 17,545,599.13
Stocks EUR
10,867,232.48
Raw
materials, consumables and
supplies
EUR 5,272,773.55
Finished
goods / work in progress EUR 5,594,458.93
Accounts
receivable EUR 6,352,990.02
Trade
debtors EUR 3,347,870.19
Amounts due
from related companies EUR 2,463,628.24
Other
debtors and assets EUR 541,491.59
Liquid
means EUR 325,376.63
Remaining
other assets EUR 21,953.78
Accruals
(assets) EUR 21,953.78
LIABILITIES EUR 44,776,949.75
Shareholders'
equity EUR
14,322,439.23
Capital EUR 5,050,100.00
Subscribed
capital (share capital) EUR 5,050,100.00
Reserves
EUR 15,982,286.22
Capital
reserves EUR 15,912,937.22
Retained
earnings / revenue reserves EUR
69,349.00
Balance
sheet profit/loss (+/-) EUR -6,709,946.99
Profit /
loss brought forward EUR -12,985,766.20
Annual
surplus / annual deficit EUR 6,275,819.21
Provisions EUR 9,796,928.25
Pension
provisions and comparable
provisions
EUR 5,089,897.40
Provisions
for taxes EUR 1,409,878.40
Other /
unspecified provisions EUR 3,297,152.45
Liabilities EUR 20,657,582.27
Other
liabilities EUR 20,657,582.27
Trade
creditors (for IAS incl. bills
of
exchange)
EUR 2,629,832.94
Liabilities
from received advance
payments
EUR 1,276,026.89
Liabililties due to related companiesEUR 15,149,323.01
Unspecified
other liabilities EUR 1,602,399.43
thereof
liabilities from tax /
financial
authorities EUR 132,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm. Code
(HGB)
Sales EUR 78,332,758.70
Inventory
change + own costs (+/-) EUR 607,366.71
Inventory
change (+/-) EUR 566,320.21
Capitalised
own costs EUR 41,046.50
Other
operating income EUR 801,923.85
Cost of
materials EUR 41,894,144.74
Raw
materials and supplies, purchased
goods EUR 32,707,863.19
Purchased
services EUR 9,186,281.55
Gross result
(+/-) EUR 37,847,904.52
Staff
expenses EUR 13,365,758.82
Wages and
salaries EUR 10,649,176.68
Social
security contributions and
expenses for
pension plans and
benefits
EUR 2,716,582.14
Total
depreciation EUR 1,325,492.51
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 1,325,492.51
Other
operating expenses EUR 15,003,312.15
Operating
result from continuing
operations EUR 8,153,341.04
Interest
result (+/-) EUR -1,113,399.42
Interest and
similar income EUR 76,591.93
Interest and
similar expenses EUR 1,189,991.35
Other
financial result EUR 230,772.38
Income from
securities and loans from
financial
assets EUR 230,772.38
Financial
result (+/-) EUR -882,627.04
Result from
ordinary operations (+/-) EUR 7,270,714.00
Extraordinary
expenses EUR
194,984.20
Extraordinary
result (+/-) EUR -194,984.20
Income tax /
refund of income tax (+/-)EUR
-754,759.56
Other taxes /
refund of taxes EUR -45,151.03
Tax
(+/-) EUR -799,910.59
Annual
surplus / annual deficit EUR 6,275,819.21
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.26 |
|
|
1 |
Rs. 99.62 |
|
Euro |
1 |
Rs. 80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
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.