|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
XETMA VOLLENWEIDER GMBH |
|
|
|
|
Registered Office : |
Basteiweg 6 D 08280 Aue |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
07.03.1997 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
|
|
|
|
No. of Employees : |
36 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
XETMA VOLLENWEIDER
GMBH
Company Status: active
Basteiweg 6
D 08280 Aue
Telephone:03771/2930
Telefax: 03771/293100
Homepage: www.xetma.com
E-mail: info@xetma.com
VAT no.: DE812157233
LEGAL FORM Private limited company
Date of foundation: 21.08.1996
Shareholders'
agreement: 1.08.1996
Registered on: 07.03.1997
Commercial Register: Local court 09112 Chemnitz
under: HRB 14046
Share capital: EUR 50,000.00
Shareholder:
Xetma Holding GmbH
Basteiweg 6
D 08280 Aue
Legal form: Private limited company
Share capital: EUR 300,000.00
Share: EUR 50,000.00
Registered on: 17.08.2000
Reg. data: 09112 Chemnitz, HRB 18122
Manager:
Olaf Neumann
Waldsiedlung 7k
D 08294 Lößnitz
having sole power of representation
born: 16.11.1967
Profession: Mechanical engineer
Marital status: married
Manager:
Peter Baumann-Dror
Ebnetstr. 52
CH 8810 Horgen
having sole power of representation
born: 30.09.1957
Nationality: Swiss
Proxy:
Karsten Heinz
Crinitztalstr. 107a
D 08147 Crinitzberg
authorized to jointly represent the company
born: 22.08.1972
Further functions/participations of Olaf Neumann (Manager)
Proprietor:
Olaf Neumann
Waldsiedlung 7k
D 08294 Lößnitz
Legal form: Unregistered commercial
enterprise
Shareholder:
Xetma Holding GmbH
Basteiweg 6
D 08280 Aue
Legal form: Private limited company
Share capital: EUR 300,000.00
Share: EUR 47,050.00
Registered
on: 17.08.2000
Reg. data: 09112 Chemnitz, HRB 18122
Shareholder:
Schaltanlagenbau Neumann GmbH
Hauptstr. 16d
D 08301 Bad Schlema
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 750.00
Registered
on: 17.05.2004
Reg. data: 09112 Chemnitz, HRB 21401
Manager:
Xetma Solar GmbH
Basteiweg 6
D 08280 Aue
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 10.12.2008
Reg. data: 09112 Chemnitz, HRB 24553
Manager:
Xetma Holding GmbH
Basteiweg 6
D 08280 Aue
Legal form: Private limited company
Share capital: EUR 300,000.00
Registered
on: 17.08.2000
Reg. data: 09112 Chemnitz, HRB 18122
Further functions/participations of Peter Baumann-Dror (Manager)
Shareholder:
Xetma Holding GmbH
Basteiweg 6
D 08280 Aue
Legal form: Private limited company
Share capital: EUR 300,000.00
Share: EUR 109,450.00
Registered
on: 17.08.2000
Reg. data: 09112 Chemnitz, HRB 18122
Manager:
Xetma Holding GmbH
Basteiweg 6
D 08280 Aue
Legal form: Private limited company
Share capital: EUR 300,000.00
Registered
on: 17.08.2000
Reg. data: 09112 Chemnitz, HRB 18122
21.08.1996 - 07.03.1997 "Kronos"
Vermögensverwaltungsgesellschaft mbH (AG
München, HRB 114134)
Brienner Str. 9
D 80333 München
Private limited company
07.03.1997 - 23.05.2001 GEMATEX Textilveredlungsmaschinen GmbH
Wettinerstr. 4
D 08280 Aue
Private limited company
23.05.2001 - 16.06.2005 Xetma Gematex GmbH
Basteiweg 6
D 08280 Aue
Private limited company
Main industrial
sector
28940 Manufacture of machinery for textile, apparel and leather
production
2899 Manufacture of other special-purpose machinery n.e.c.
Payment experience: within periods customary in this trade
Negative information:We have no negative information at hand.
BALANCE SHEET
YEAR: 2011
Type of ownership: proprietor
Share: 100.00 %
Address Basteiweg 6
D 08280 Aue
Real Estate of: Olaf Neumann
Type of ownership: unknown
Address Waldsiedlung 7k
D 08294 Lößnitz
Land register documents were not available.
COMMERZBANK VORMALS DRESDNER BANK, 08271 AUE, SACHS
Sort. code: 87080000, Account no.: 0704738100
BIC: DRESDEFF870
ERZGEBIRGSSPARKASSE, 09456 ANNABERG-BUCHHOLZ
Sort. code: 87054000, Account no.: 3601003600
BIC: WELADED1STB
Turnover: 2012 EUR 5,300,000.00
Equipment: EUR 489,453.00
Ac/ts receivable: EUR 335,663.00
Liabilities: EUR 1,754,277.00
Employees: 36
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 40.22
Liquidity ratio: 0.20
Return on total capital [%]: -0.44
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 49.26
Liquidity ratio: 0.54
Return on total capital [%]: 0.59
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 44.35
Liquidity ratio: 0.64
Return on total capital [%]: 5.41
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 44.40
Liquidity ratio: 0.17
Return on total capital [%]: 3.81
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 3,722,110.73
Fixed assets EUR 1,528,453.90
Intangible assets EUR 184,433.00
Concessions, licences, rights EUR 79,433.00
Advance payments for intang. assets EUR 105,000.00
Tangible assets EUR 1,344,020.90
Land / similar rights EUR 732,084.89
Plant / machinery EUR 122,483.51
Other tangible assets / fixtures and
fittings EUR 489,452.50
Current assets EUR 2,172,579.09
Stocks EUR 1,410,165.53
Raw materials, consumables and
supplies EUR 446,675.30
Finished goods / work in progress EUR 963,490.23
Accounts receivable EUR 335,663.29
Trade debtors EUR 266,300.52
Amounts due from related companies EUR 67,675.26
Other debtors and assets EUR 1,687.51
Liquid means EUR 426,750.27
Remaining other assets EUR 21,077.74
Accruals (assets) EUR 10,140.17
Deferred taxes (assets) EUR 10,937.57
LIABILITIES EUR 3,722,110.73
Shareholders' equity EUR 1,490,750.42
Capital EUR 50,000.00
Subscribed capital (share capital) EUR 50,000.00
Reserves EUR 1,456,786.08
Capital reserves EUR 775,507.45
Retained earnings / revenue reserves EUR 681,278.63
Balance sheet profit/loss (+/-) EUR -16,035.66
Annual surplus / annual deficit EUR -16,035.66
Items between shareholders' equity and
debt capital EUR 81,490.00
Allowances / bonuses EUR 81,490.00
Provisions EUR 395,387.15
Other / unspecified provisions EUR 395,387.15
Liabilities EUR 1,754,277.26
Financial debts EUR 1,091,782.02
Liabilities due to banks EUR 1,091,782.02
Other liabilities EUR 662,495.24
Trade creditors (for IAS incl. bills
of exchange) EUR 102,856.69
Liabilities from received advance
payments EUR 453,428.40
Liabililties due to related companies EUR 47,368.16
Unspecified other liabilities EUR 58,841.99
thereof liabilities from tax /
financial authorities EUR 10,770.21
Other liabilities EUR 205.90
Deferred taxes (not included under
provisions/liabilities) EUR 205.90
Type of balance sheet:
Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 3,055,344.57
Fixed assets EUR 1,462,674.40
Intangible assets EUR 7,060.00
Concessions, licences, rights EUR 7,060.00
Tangible assets EUR 1,455,614.40
Land / similar rights EUR 780,618.39
Plant / machinery EUR 157,689.51
Other tangible assets / fixtures and
fittings EUR 517,306.50
Current assets EUR 1,576,745.45
Stocks EUR 918,310.85
Raw materials, consumables and
supplies EUR 382,264.57
Finished goods / work in progress EUR 536,046.28
Accounts receivable EUR 590,851.15
Trade debtors EUR 561,772.52
Amounts due from related companies EUR 16,578.75
Other debtors and assets EUR 12,499.88
Liquid means EUR 67,583.45
Remaining other assets EUR 15,924.72
Accruals (assets) EUR 15,924.72
LIABILITIES EUR 3,055,344.57
Shareholders' equity EUR 1,506,786.08
Capital EUR 50,000.00
Subscribed capital (share capital) EUR 50,000.00
Reserves EUR 1,438,647.67
Capital reserves EUR 775,507.45
Retained earnings / revenue reserves EUR 663,140.22
Balance sheet profit/loss (+/-) EUR 18,138.41
Annual surplus / annual deficit EUR 18,138.41
Provisions EUR 384,576.62
Other / unspecified provisions EUR 384,576.62
Liabilities EUR 1,163,981.87
Financial debts EUR 902,789.61
Liabilities due to banks EUR 902,789.61
Other liabilities EUR 261,192.26
Trade creditors (for IAS incl. bills
of exchange) EUR 54,887.78
Liabilities from received advance
payments EUR 102,431.50
Liabililties due to related companies EUR 31,166.42
Unspecified other liabilities EUR 72,706.56
thereof liabilities from tax /
financial authorities EUR 13,886.65
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
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.