MIRA INFORM REPORT
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Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
STEMMANN-TECHNIK GMBH |
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Registered Office : |
Niedersachsenstrasse 2, Schüttorf, 48465 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2012 |
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Year of Establishment : |
1912 |
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Com. Reg. No.: |
HRB130213 |
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Legal Form : |
Private
Subsidiary |
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Line of Business : |
Manufacture of electrical equipment and mechanical engineering for energy
and data transfer for movable machines |
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No of Employees : |
415 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow But Correct |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source
: CIA |
COMPANY
DETAILS
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Stemmann-Technik GmbH |
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Business
Description
Manufacture of electrical equipment and mechanical engineering for energy and data transfer for movable machines
Industry
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Industry |
Electrical Equipment and Appliances
Manufacturing |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
335999 -
All Other Miscellaneous Electrical Equipment and Component Manufacturing |
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UK SIC 2007: |
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US SIC 1987: |
3629 -
Electrical Industrial Apparatus, Not Elsewhere Classified |
Key
Executives
|
Name |
Title |
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Michael Grunwald |
Managing director |
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Zdänek Husner |
Finanzen |
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Georg Matzku |
Marketing und Vertrieb |
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Thomas Weck |
EDV |
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Gerrit Kolhof |
Einkauf |
News
|
Title |
Date |
|
Wabtec Signs Agreement To Acquire Fandstan, A
Leading Rail/Industrial Equipment Manufacturer PR Newswire US (298 Words) |
12-Feb-2014 |
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Wabtec Acquires Fandstan Electric for $215M |
12-Feb-2014 |
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Pantograph and parts manufacturer tram pantograph
stemmann technik |
2-Sep-2013 |
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Device for transmitting electrical energy |
12-Aug-2013 |
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US Patent Issued to Stemmann-Technik on Aug. 6 for
"Device for transmitting electrical energy" (German Inventor) |
6-Aug-2013 |
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Pantograph and pantograph tram parts manufacturer
stemmann technik |
10-Apr-2013 |
Registered
No.(Other):
HRB130213
Parent Registered
No.(UK):
DEU
|
1 - Profit & Loss Item Exchange Rate:
USD 1 = EUR 0.7782366 2 - Balance Sheet Item Exchange Rate: USD
1 = EUR 0.7566 |
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ANZSIC 2006 Codes: |
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2439 |
- |
Other Electrical Equipment Manufacturing |
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ISIC Rev 4 Codes: |
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2790 |
- |
Manufacture of other electrical equipment |
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NACE Rev 2 Codes: |
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2790 |
- |
Manufacture of other electrical equipment |
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NAICS 2012 Codes: |
||
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335999 |
- |
All Other Miscellaneous Electrical
Equipment and Component Manufacturing |
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US SIC 1987: |
||
|
3629 |
- |
Electrical Industrial Apparatus, Not
Elsewhere Classified |
|
UK SIC 2007: |
||
|
2790 |
- |
Manufacture of other electrical equipment |
|
Manufacture of electrical equipment and mechanical engineering for
energy and data transfer for movable machines |
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Bank: |
Oldenburgische Landesbank, Deutsche Bank
AG, Landeszentralbank, Kreissparkasse Schüttorf |
Corporate Family
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Corporate Structure News: |
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Stemmann-Technik GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
London |
United Kingdom |
Miscellaneous Professional Services |
220.1 |
1,064 |
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|
Acquisition by Westinghouse Air Brake Technologies Corp
proposed/announced.See corporate
structure news on Fandstan Electric Group Ltd. for details |
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Subsidiary |
Osnabruck |
Germany |
Electronics Wholesale |
400 |
||
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Subsidiary |
Barneveld |
Netherlands |
Electrical Equipment and Appliances Manufacturing |
65 |
||
|
Subsidiary |
Piedmont, SC |
United States |
Motor Vehicle Parts Manufacturing |
5.3 |
50 |
|
|
Subsidiary |
Hallam, VIC |
Australia |
Train and Railroad Equipment Manufacturing |
25 |
||
|
Subsidiary |
Taipei |
Taiwan |
Electrical Equipment and Appliances Manufacturing |
10 |
||
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
0.2 |
5 |
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Subsidiary |
Schüttorf, Niedersachsen |
Germany |
Electrical Equipment and Appliances Manufacturing |
88.8 |
415 |
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|
Subsidiary |
Chard |
United Kingdom |
Miscellaneous Repair and Maintenance |
59.1 |
216 |
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Subsidiary |
Chard |
United Kingdom |
Miscellaneous Manufacturing |
3.9 |
50 |
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Subsidiary |
Kowloon Bay, Kowloon |
Hong Kong |
Machinery Wholesale |
10 |
||
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Subsidiary |
London |
United Kingdom |
Miscellaneous Wholesale |
0.0 |
||
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Subsidiary |
Barneveld, Gelderland |
Netherlands |
Banking |
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Subsidiary |
Amersfoort |
Netherlands |
Electronics Wholesale |
5 |
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Executives
Report
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Executives |
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Managing director |
Managing Director |
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Finanzen |
Finance Executive |
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Personal |
Human Resources Executive |
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Marketing und Vertrieb |
Sales Executive |
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EDV |
Information Executive |
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Einkauf |
Purchasing Executive |
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News
|
Wabtec
Signs Agreement To Acquire Fandstan, A Leading Rail/Industrial Equipment
Manufacturer |
12-Feb-2014 |
|
Wabtec
Acquires Fandstan Electric for $215M |
12-Feb-2014 |
|
Pantograph
and parts manufacturer tram pantograph stemmann technik |
02-Sep-2013 |
|
Device
for transmitting electrical energy |
12-Aug-2013 |
|
US
Patent Issued to Stemmann-Technik on Aug. 6 for "Device for transmitting
electrical energy" (German Inventor) |
06-Aug-2013 |
|
Pantograph
and pantograph tram parts manufacturer stemmann technik |
10-Apr-2013 |
Annual Profit & Loss
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
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Consolidated |
No |
No |
No |
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Total income |
88.8 |
109.9 |
91.8 |
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Raw materials and services |
42.8 |
59.4 |
46.1 |
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Net sales |
88.8 |
109.9 |
91.8 |
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Change in stock |
-1.2 |
3.3 |
0.4 |
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Own work capitalised |
0.3 |
0.5 |
0.3 |
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Other operating income |
1.7 |
2.5 |
5.5 |
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Raw materials and consumables employed |
42.8 |
59.4 |
46.1 |
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Other external charges |
2.5 |
3.0 |
2.5 |
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Cost of goods sold |
45.2 |
62.4 |
48.7 |
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Cost of raw materials |
45.2 |
62.4 |
48.7 |
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Taxes and social security costs |
4.9 |
5.3 |
4.8 |
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Total payroll costs |
28.2 |
31.0 |
27.7 |
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Fixed asset depreciation and amortisation |
1.9 |
2.0 |
1.7 |
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Other operating costs |
9.1 |
12.9 |
13.0 |
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Net operating income |
5.3 |
7.9 |
6.9 |
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Other income |
0.0 |
0.0 |
0.3 |
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Interest payable on loans |
0.3 |
0.5 |
0.5 |
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Total expenses |
0.3 |
0.5 |
0.2 |
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Profit before tax |
5.0 |
7.4 |
6.7 |
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Provisions |
11.7 |
14.0 |
13.3 |
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Extraordinary expenses |
0.1 |
0.1 |
0.1 |
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Extraordinary result |
-0.1 |
-0.1 |
-0.1 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
1.3 |
1.8 |
1.2 |
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Net profit |
3.6 |
5.5 |
5.4 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
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Consolidated |
No |
No |
No |
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|
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Issued capital |
2.6 |
2.6 |
2.7 |
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Capital reserves |
1.8 |
1.7 |
1.8 |
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Profits for the year |
35.4 |
32.7 |
28.5 |
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Profit brought forward from previous year(s) |
31.7 |
27.6 |
23.0 |
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Total stockholders equity |
39.8 |
37.1 |
33.0 |
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Deferred taxation |
0.1 |
0.3 |
0.2 |
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Other provisions |
4.6 |
6.0 |
6.5 |
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Provision for pensions |
7.4 |
6.8 |
6.7 |
|
Provisions and allowances |
12.1 |
13.1 |
13.4 |
|
Trade creditors |
4.2 |
3.9 |
6.2 |
|
Advances received |
- |
0.1 |
0.0 |
|
Other loans |
9.0 |
10.0 |
12.4 |
|
Taxation and social security |
1.3 |
1.8 |
1.7 |
|
Due to group companies |
1.0 |
0.4 |
- |
|
Owing to participants |
0.1 |
- |
- |
|
Total current liabilities |
15.6 |
16.2 |
20.4 |
|
Total liabilities (including net worth) |
67.5 |
66.3 |
66.8 |
|
Intangibles |
0.9 |
1.1 |
0.8 |
|
Total tangible fixed assets |
23.7 |
23.0 |
23.6 |
|
Total financial assets |
0.3 |
0.3 |
0.1 |
|
Total non-current assets |
24.9 |
24.4 |
24.5 |
|
Raw materials |
7.9 |
8.3 |
6.8 |
|
Work in progress |
7.7 |
8.2 |
7.5 |
|
Finished goods |
5.0 |
5.5 |
3.4 |
|
Prepayments |
0.0 |
0.0 |
- |
|
Net stocks and work in progress |
20.6 |
22.0 |
17.7 |
|
Trade debtors |
8.1 |
9.5 |
18.8 |
|
Other receivables |
1.0 |
1.1 |
1.9 |
|
Total receivables |
14.5 |
17.3 |
22.6 |
|
Owing from associated companies |
5.5 |
6.7 |
2.0 |
|
Owing from participants |
- |
0.0 |
0.0 |
|
Cash and liquid assets |
7.3 |
2.6 |
2.0 |
|
Total current assets |
42.4 |
41.9 |
42.3 |
|
Prepaid expenses and deferred costs |
0.1 |
0.1 |
- |
|
Total assets |
67.5 |
66.3 |
66.8 |
Annual Ratios
Financials in: USD (mil)
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
27.21 |
25.90 |
20.77 |
|
Acid test ratio |
14.00 |
12.32 |
12.09 |
|
Total liabilities to net worth |
0.04% |
0.04% |
0.06% |
|
Net worth to total assets |
0.06% |
0.06% |
0.05% |
|
Current liabilities to net worth |
0.04% |
0.04% |
0.06% |
|
Current liabilities to stock |
0.08% |
0.07% |
0.12% |
|
Fixed assets to net worth |
0.06% |
0.07% |
0.07% |
|
Collection period |
321.00 |
339.00 |
737.00 |
|
Stock turnover rate |
2.25 |
2.14 |
1.90 |
|
Profit margin |
0.00% |
0.01% |
0.01% |
|
Return on assets |
0.01% |
0.01% |
0.01% |
|
Shareholders' return |
0.01% |
0.01% |
0.02% |
|
Sales per employee |
16.66 |
18.95 |
17.86 |
|
Profit per employee |
0.68 |
0.96 |
1.07 |
|
Average wage per employee |
5.28 |
5.34 |
5.38 |
|
Net worth |
39.8 |
37.1 |
33.0 |
|
Number of employees |
415 |
417 |
388 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.13 |
|
|
1 |
Rs. 101.17 |
|
Euro |
1 |
Rs. 84.59 |
INFORMATION DETAILS
|
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.