|
Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TWD
FIBRES GMBH |
|
|
|
|
Registered Office : |
Kunertstr.
1 D 94469 Deggendorf Post Box: 19 09, D 94459 Deggendorf |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
16.06.2005 |
|
|
|
|
Legal Form : |
Private
limited company |
|
|
|
|
Line of Business : |
Manufacture
of hosiery |
|
|
|
|
No. of Employees : |
717 |
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 |
TWD FIBRES GMBH
Company Status: active
Kunertstr. 1
D 94469 Deggendorf
Post Box:
19 09, D 94459 Deggendorf
Telephone:09901/79-0
Telefax: 09901/79-224
Homepage: www.twd.de
E-mail: info@twd-fibres.de
VAT no.: DE814381361
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 04.01.2005
Shareholders'
agreement: 26.01.2005
Registered on: 16.06.2005
Commercial Register: Local court 94469
Deggendorf
under: HRB
2784
Share capital: EUR 2,025,000.00
Shareholder:
DAUN & Cie
Aktiengesellschaft
Bahnhofstr. 21
D 26180 Rastede
Legal form: Public limited
company
Share capital: EUR
21,000,000.00
Share: EUR 1,822,500.00
Registered on: 14.08.1985
Reg. data: 26135
Oldenburg, HRB 120211
Shareholder:
ATLAS Textil Verwaltungs
GmbH
Bahnhofstr. 21
D 26180 Rastede
Legal form: Private
limited company
Share capital: EUR 818,100.00
Share: EUR 202,500.00
Registered on: 08.04.1987
Reg. data: 26135
Oldenburg, HRB 120254
Manager:
Thomas Stoffel
D 94554 Moos
born: 19.06.1965
Manager:
Wolfgang Tröster
D 72800 Eningen
born: 26.06.1958
Manager:
Konstantin Steiniger
Nibelungenstr. 39
D 63897 Miltenberg
born: 27.01.1966
Proxy:
Stefan Pongratz
D 94209 Regen
authorized to jointly
represent the company
born: 19.12.1968
Proxy:
Stefan Turri
D 94469 Deggendorf
born: 02.03.1965
Further functions/participations of Thomas
Stoffel (Manager)
Manager:
TWD Fibres Service GmbH
Kunertstr. 1
D 94469 Deggendorf
Legal form: Private
limited company
Share capital: EUR 1,000,000.00
Registered
on: 16.09.2008
Reg. data: 94469 Deggendorf, HRB 3196
Further functions/participations of Wolfgang
Tröster (Manager)
Manager:
TWD Fibres Service GmbH
Kunertstr. 1
D 94469 Deggendorf
Legal form: Private
limited company
Share capital: EUR 1,000,000.00
Registered
on: 16.09.2008
Reg. data: 94469 Deggendorf, HRB 3196
Further functions/participations of Konstantin
Steiniger
(Manager)
Manager:
TWD Fibres Service GmbH
Kunertstr. 1
D 94469 Deggendorf
Legal form: Private limited
company
Share capital: EUR 1,000,000.00
Registered
on: 16.09.2008
Reg. data: 94469 Deggendorf, HRB 3196
04.01.2005 - 16.06.2005 Einundsiebzigste TVG
Vermögensverwaltunsgesellschaft mbH (HRB
95725, AG Berlin)
D 10115 Berlin
Private limited
company
19.09.2008 - 02.01.2014 Manager
Uwe Kolb
D 94526 Metten
Main industrial sector
14310
Manufacture of hosiery
Limited partner:
FR Safety Yarns GmbH
& Co. KG
Kunertstr. 1
D 94469 Deggendorf
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Company Status: active
Total cap. EUR 120,000.00
contribution:
Share: EUR 60,000.00
Reg. data: 26.09.2011
Local court
94469 Deggendorf
HRA 2553
Shareholder:
TWD Fibres Service GmbH
Kunertstr. 1
D 94469 Deggendorf
Legal form: Private
limited company
Company Status: active
Share capital: EUR 1,000,000.00
Share: EUR 1,000,000.00
Reg. data: 16.09.2008
Local court
94469 Deggendorf
HRB 3196
Shareholder:
FR Safety Yarns
Beteiligungs GmbH
Kunertstr. 1
D 94469 Deggendorf
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Reg. data: 19.09.2011
Local court
94469 Deggendorf
HRB 3675
Payment experience: within periods customary in this trade
Negative information:We have no negative
information at hand.
BALANCE SHEET YEAR: 2011
Type of ownership: Tenant
Address Kunertstr.
1
D 94469 Deggendorf
Land register documents were not available.
SPARKASSE DEGGENDORF, 94459 DEGGENDORF
Sort. code: 74150000
BIC: BYLADEM1DEG
COMMERZBANK STRAUBING, 94315 STRAUBING
Sort. code: 74240062
BIC: COBADEFF742
UNICREDIT BANK - HYPOVEREINSBANK, 94460
DEGGENDORF
Sort. code: 74120071
BIC: HYVEDEMM415
Equipment: EUR
296,004.00
Ac/ts receivable: EUR
18,303,820.00
Liabilities: EUR
7,391,375.00
Employees: 750
- thereof permanent staff: 717
- Trainees:
21
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 81.20
Liquidity ratio: 2.79
Return on total capital [%]: 1.97
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 78.48
Liquidity ratio: 3.15
Return on total capital [%]: -0.03
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 81.01
Liquidity ratio: 4.13
Return on total capital [%]: -10.85
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 71.56
Liquidity ratio: 2.09
Return on total capital [%]: -11.98
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 43,275,982.71
Fixed assets EUR 2,745,404.13
Intangible assets EUR 245,972.00
Concessions, licences,
rights EUR 245,972.00
Tangible assets EUR 365,787.98
Land / similar
rights EUR 2,319.22
Other tangible assets /
fixtures and
fittings EUR 296,003.63
Advance payments made /
construction
in progress EUR 67,465.13
Financial assets EUR 2,133,644.15
Shares in participations
/
subsidiaries and the
like EUR 2,073,644.15
Shares in related
companies EUR 2,073,643.15
Shares in investee
companies EUR 1.00
Loans to participations
/
subsidiaries and the
like EUR 60,000.00
Loans to related
companies EUR 60,000.00
Current assets EUR 40,504,420.07
Stocks EUR 22,144,095.12
Raw materials,
consumables and
supplies EUR 8,873,184.80
Finished goods / work in
progress EUR 13,270,910.32
Accounts receivable EUR 18,303,819.62
Amounts due from
shareholders EUR 0.00
Trade debtors EUR 2,672,606.48
Amounts due from related
companies EUR 13,828,917.83
Other debtors and
assets EUR 1,802,295.31
Liquid means EUR 56,505.33
Remaining other
assets EUR 26,158.51
Accruals (assets) EUR 11,266.23
Active difference from
asset
offsetting EUR 14,892.28
LIABILITIES EUR 43,275,982.71
Shareholders' equity EUR 34,374,192.40
Capital EUR 2,025,000.00
Subscribed capital
(share capital) EUR 2,025,000.00
Reserves EUR 31,452,788.05
Capital reserves EUR
31,452,788.05
Balance sheet profit/loss
(+/-) EUR 896,404.35
Profit / loss brought
forward EUR 43,623.76
Annual surplus / annual
deficit EUR 852,780.59
Provisions EUR 1,510,415.29
Pension provisions and
comparable
provisions EUR 239,388.00
Provisions for taxes EUR 506.00
Other / unspecified
provisions EUR 1,270,521.29
Liabilities EUR 7,391,375.02
Other liabilities EUR 7,391,375.02
Trade creditors (for IAS
incl. bills
of exchange) EUR 5,491,035.01
Liabilities due to
shareholders EUR 765,975.00
Liabililties due to
related companiesEUR
159.35
Unspecified other
liabilities EUR 1,134,205.66
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 100,955,261.45
Inventory change + own
costs (+/-) EUR 2,760,920.92
Inventory change
(+/-) EUR 2,625,423.32
Capitalised own
costs EUR 135,497.60
Other operating
income EUR 11,385,188.75
Cost of materials EUR 72,168,902.10
Raw materials and
supplies, purchased
goods EUR 62,808,329.19
Purchased services EUR 9,360,572.91
Gross result (+/-) EUR 42,932,469.02
Staff expenses EUR 24,168,803.27
Wages and salaries EUR 20,180,845.51
Social security
contributions and
expenses for pension
plans and
benefits EUR 3,987,957.76
Total depreciation EUR 272,115.82
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 272,115.82
Other operating
expenses EUR 17,286,541.47
Operating result from
continuing
operations EUR 1,205,008.46
Result from participating
interests
(+/-) EUR 59,077.92
Expenses / income from
participations EUR 59,077.92
Income from transfer of
profits EUR 59,077.92
Interest result (+/-) EUR -48,002.99
Interest and similar
income EUR 339,656.40
Interest and similar
expenses EUR 387,659.39
Financial result
(+/-) EUR 11,074.93
Result from ordinary
operations (+/-) EUR 1,216,083.39
Income tax / refund of
income tax (+/-)EUR 35.05
Other taxes / refund of
taxes EUR -363,337.85
Tax (+/-) EUR -363,302.80
Annual surplus / annual
deficit EUR 852,780.59
Type of balance sheet: Company
balance sheet
Financial year: 01.01.2010
- 31.12.2010
ASSETS EUR 42,644,978.19
Fixed assets EUR 2,443,627.09
Intangible assets EUR 169,419.00
Concessions, licences,
rights EUR 169,419.00
Tangible assets EUR 275,207.09
Land / similar
rights EUR 2,319.22
Other tangible assets /
fixtures and
fittings EUR 206,842.22
Advance payments made /
construction
in progress EUR 66,045.65
Financial assets EUR 1,999,001.00
Shares in participations
/
subsidiaries and the
like EUR
1,999,001.00
Shares in related
companies EUR 1,999,000.00
Shares in investee
companies EUR 1.00
Current assets EUR 40,198,470.21
Stocks EUR 17,220,485.81
Raw materials,
consumables and
supplies EUR 6,574,998.81
Finished goods / work in
progress EUR 10,645,487.00
Accounts receivable EUR 22,803,383.76
Amounts due from
shareholders EUR 171,413.44
Trade debtors EUR 2,749,401.06
Amounts due from related
companies EUR 18,952,976.27
Other debtors and
assets EUR 929,592.99
Liquid means EUR 174,600.64
Remaining other
assets EUR 2,880.89
Accruals (assets) EUR 2,880.89
LIABILITIES EUR 42,644,978.19
Shareholders' equity EUR 33,521,411.81
Capital EUR 2,025,000.00
Subscribed capital
(share capital) EUR 2,025,000.00
Reserves EUR 31,452,788.05
Capital reserves EUR 31,452,788.05
Balance sheet profit/loss
(+/-) EUR 43,623.76
Balance sheet profit /
loss EUR 43,623.76
Provisions EUR 1,765,059.38
Pension provisions and
comparable
provisions EUR 219,467.00
Provisions for taxes EUR 21,325.05
Other / unspecified
provisions EUR 1,524,267.33
Liabilities EUR 7,358,507.00
Other liabilities EUR 7,358,507.00
Trade creditors (for IAS
incl. bills
of exchange) EUR 6,090,243.85
Liabililties due to
related companiesEUR
35,880.04
Unspecified other
liabilities EUR 1,232,383.11
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 92,391,537.49
Inventory change + own
costs (+/-) EUR 3,592,256.30
Inventory change
(+/-) EUR 3,531,831.19
Capitalised own
costs EUR 60,425.11
Other operating
income EUR 8,677,589.57
Cost of materials EUR 62,935,575.27
Raw materials and
supplies, purchased
goods EUR 52,918,151.42
Purchased services EUR 10,017,423.85
Gross result (+/-) EUR 41,725,808.09
Staff expenses EUR 23,859,640.32
Wages and salaries EUR 19,956,262.52
Social security
contributions and
expenses for pension
plans and
benefits EUR 3,903,377.80
Total depreciation EUR 185,902.06
Depreciation on tangible
/ intangible
asssets (incl. start-up and exp. of
bus. EUR 185,902.06
Other operating
expenses EUR 17,453,943.35
Operating result from
continuing
operations EUR 226,322.36
Result from participating
interests
(+/-) EUR -46,420.45
Expenses for
participations EUR 46,420.45
Expenses for other
participations EUR 46,420.45
Interest result (+/-) EUR 62,786.67
Interest and similar
income EUR 344,611.14
Interest and similar
expenses EUR 281,824.47
Financial result
(+/-) EUR 16,366.22
Result from ordinary
operations (+/-) EUR 242,688.58
Extraordinary income EUR 56,933.00
Extraordinary result
(+/-) EUR 56,933.00
Income tax / refund of
income tax (+/-)EUR 1,231.68
Other taxes / refund of
taxes EUR -257,229.50
Tax (+/-) EUR -255,997.82
Annual surplus / annual
deficit EUR 43,623.76
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.85.02 |
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.