|
Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
WALDRICH
SIEGEN GMBH & CO. KG |
|
|
|
|
Registered Office : |
Daimlerstr.
24, D 57299 Burbach |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.04.2004 |
|
|
|
|
Com. Reg. No.: |
HRA 7707 |
|
|
|
|
Legal Form : |
Ltd
partnership with priv. ltd |
|
|
|
|
Line of Business : |
Wholesale of machine tools |
|
|
|
|
No. of Employees |
Not Available |
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 – 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
Waldrich Siegen GmbH & Co. KG
Daimlerstr.
24
D 57299
Burbach
Telephone:02736/493-02
Telefax: 02736/493-559
E-mail: wasi@waldrich-siegen.de
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 30.04.2004
Registered on: 30.03.2004
Register of companies: Local
court 57072 Siegen
under: HRA
7707
Total cap. contribution: EUR 500,000.00
Waldrich Siegen Holding
GmbH
Daimlerstr. 24
D 57299 Burbach
Legal form: Private
limited company
Share capital: EUR
10,800,000.00
Share: EUR 500,000.00
Registered on: 29.09.1961
Reg. data: 57072 Siegen,
HRB 1662
Waldrich Siegen
Verwaltungs-GmbH
Daimlerstr. 24
D 57299 Burbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered on: 15.04.2004
Reg. data: 57072
Siegen, HRB 7592
Waldrich Siegen Holding
GmbH
Daimlerstr. 24
D 57299 Burbach
Legal form: Private
limited company
Share
capital: EUR 10,800,000.00
Share: EUR 25,000.00
Registered on: 29.09.1961
Reg. data: 57072 Siegen,
HRB 1662
Christoph Thoma
Bogenstr. 5
D 57234 Wilnsdorf
having sole power of
representation
born: 12.12.1950
Profession: graduate
engineer
Marital status:
married
Manager:
Jörg Naumann
D 51570 Windeck
having sole power of
representation
born: 07.09.1962
Manager:
Jörg Hartwig
Fabristr. 10
D 53225 Bonn
born: 15.08.1973
Peter Billig
Löhbergstr. 16a
D 57258 Freudenberg
having sole power of representation
born: 28.07.1947
Marital status: married
Proxy:
Dietmar Weiß
Felsenmeerstr. 8
D 58675 Hemer
authorized to jointly
represent the company
born: 08.12.1951
Profession: Businessman
Marital status: married
Proxy:
Klaus-Dieter Engeland
D 57072 Siegen
authorized to jointly
represent the company
born: 13.08.1953
Proxy:
Jörg Naumann
D 51570 Windeck
authorized to jointly
represent the company
born: 07.09.1962
30.03.2004 - 27.02.2006 Waldrich GmbH & Co. KG
Daimlerstr. 24
D 57299 Burbach
Ltd partnership with
priv. ltd. company
as general partner
Main industrial sector
46620
Wholesale of machine tools
Shareholder:
Waldrich Siegen Japan
GmbH
Daimlerstr. 22
D 57299 Burbach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 10.05.2004
Local court
57072 Siegen
HRB 7607
Payment experience: within periods customary in this trade
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Daimlerstr. 24
D 57299 Burbach
Land register documents were not available.
DEUTSCHE BANK, 57069 SIEGEN
Sort. code: 46070090
BIC: DEUTDEDK460
COMMERZBANK VORMALS DRESDNER BANK, 57003
SIEGEN
Sort. code: 46080010
BIC: DRESDEFF460
UNICREDIT BANK - HYPOVEREINSBANK, 50443 KÖLN
Sort. code: 37020090
BIC: HYVEDEMM429
Turnover:
2012 EUR 109,242,978.00
2013 EUR 105,460,000.00
Profit: 2012 EUR 10,925,414.00
further business figures:
Equipment: EUR 47,310.00
Ac/ts receivable: EUR 68,454,994.00
Liabilities: EUR 90,567,324.00
Employees: 28
BALANCE
SHEETS
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 11.62
Liquidity ratio: 1.12
Return on total capital [%]: 11.82
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 9.39
Liquidity ratio: 1.19
Return on total capital [%]: 9.57
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 2.53
Liquidity ratio: 1.04
Return on total capital [%]: 2.73
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 2.58
Liquidity ratio: 1.06
Return on total capital [%]: 2.86
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:
01.01.2012 - 31.12.2012
ASSETS EUR
93,152,212.29
Fixed assets
EUR 573,951.29
Intangible assets
EUR 477,578.00
Goodwill
EUR 477,578.00
Tangible assets EUR 47,310.00
Other tangible assets / fixtures and
fittings
EUR 47,310.00
Financial assets
EUR 49,063.29
Shares in participations /
subsidiaries and the like
EUR 25,000.00
Shares in related companies
EUR 25,000.00
Other loans
EUR 24,063.29
Current assets
EUR 91,966,878.70
Accounts receivable
EUR 68,454,993.99
Trade debtors
EUR 1,918,482.67
Amounts due from related companies
EUR 59,929,159.84
Other debtors and assets
EUR 6,607,351.48
Investments in current assets
EUR 5,000,000.00
Other investments
EUR 5,000,000.00
Liquid means
EUR 18,511,884.71
Remaining other assets
EUR 611,382.30
Accruals (assets)
EUR 609,386.36
Active difference from asset
offsetting
EUR 1,995.94
LIABILITIES EUR 93,152,212.29
Shareholders' equity
EUR 500,000.00
Capital
EUR 500,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 500,000.00
Limited partner's capital, fixed
capital, capital account I
EUR 500,000.00
Provisions
EUR 2,084,888.00
Provisions for taxes
EUR 8,605.00
Other / unspecified provisions
EUR 2,076,283.00
Liabilities
EUR 90,567,324.29
Other liabilities
EUR 90,567,324.29
Trade creditors (for IAS incl. bills
of exchange) EUR 64,250.39
Liabilities from received advance
payments
EUR 67,152,062.12
Liabililties due to related companiesEUR 19,725,790.74
Unspecified other liabilities
EUR 3,625,221.04
thereof liabilities from tax /
financial authorities
EUR 24,080.07
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 109,242,977.60
Other operating income
EUR 1,745,549.49
Cost of materials
EUR 86,326,207.77
Raw materials and supplies, purchased
goods
EUR 86,315,323.99
Purchased services
EUR 10,883.78
Gross result (+/-)
EUR 24,662,319.32
Staff expenses
EUR 2,052,352.89
Wages and salaries
EUR 1,804,103.79
Social security contributions and
expenses for pension plans and
benefits
EUR 248,249.10
Total depreciation
EUR 76,410.45
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 76,410.45
Other operating expenses
EUR 9,938,672.68
Operating result from continuing
operations
EUR 12,594,883.30
Interest result (+/-)
EUR 120,646.87
Interest and similar income
EUR 235,261.85
Interest and similar expenses
EUR 114,614.98
Other financial result
EUR 2,468.36
Income from securities and loans from
financial assets
EUR 2,468.36
Financial result (+/-)
EUR 123,115.23
Result from ordinary operations (+/-)
EUR 12,717,998.53
Income tax / refund of income tax (+/-)EUR -1,781,871.19
Other taxes / refund of taxes
EUR -10,713.13
Tax (+/-)
EUR -1,792,584.32
Annual surplus / annual deficit
EUR 10,925,414.21
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 142,471,292.70
Fixed assets
EUR 628,878.32
Intangible assets
EUR 544,278.00
Goodwill
EUR 544,278.00
Tangible assets
EUR 27,170.00
Other tangible assets / fixtures and
fittings EUR 27,170.00
Financial assets
EUR 57,430.32
Shares in participations /
subsidiaries and the like
EUR 25,000.00
Shares in related companies
EUR 25,000.00
Other loans
EUR 32,430.32
Current assets
EUR 141,058,792.37
Accounts receivable
EUR 100,899,106.31
Trade debtors
EUR 4,464,489.81
Amounts due from related companies
EUR 86,732,358.44
Other debtors and assets
EUR 9,702,258.06
Liquid means
EUR 40,159,686.06
Remaining
other assets EUR 783,622.01
Accruals (assets)
EUR 783,622.01
LIABILITIES EUR 142,471,292.70
Shareholders' equity
EUR 500,000.00
Capital
EUR 500,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 500,000.00
Provisions
EUR 3,940,132.26
Provisions for taxes
EUR 1,555,000.00
Other / unspecified provisions
EUR 2,385,132.26
Liabilities
EUR 138,031,160.44
Other liabilities
EUR 138,031,160.44
Trade creditors (for IAS incl. bills
of exchange)
EUR 232,806.82
Liabilities from received advance
payments
EUR 107,335,885.68
Liabililties due to related companiesEUR 26,777,429.40
Unspecified other liabilities
EUR 3,685,038.54
thereof liabilities from tax /
financial authorities
EUR 19,819.39
thereof liabilities from social
security EUR 0.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 147,526,713.66
Other operating income
EUR 391,386.11
Cost of materials
EUR 119,726,539.16
Raw materials and supplies, purchased
goods
EUR 119,693,531.73
Purchased services
EUR 33,007.43
Gross result (+/-)
EUR 28,191,560.61
Staff expenses
EUR 1,884,269.15
Wages and salaries
EUR 1,661,131.15
Social security contributions and
expenses for pension plans and
benefits
EUR 223,138.00
Total depreciation
EUR 69,953.30
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 69,953.30
Other operating expenses
EUR 10,732,625.36
Operating result from continuing
operations
EUR 15,504,712.80
Interest result (+/-)
EUR 241,080.71
Interest and similar income
EUR 354,151.19
Interest and similar expenses
EUR 113,070.48
Financial result (+/-)
EUR 241,080.71
Result from ordinary operations (+/-)
EUR 15,745,793.51
Income tax / refund of income tax (+/-)EUR -2,183,162.70
Other taxes / refund of taxes
EUR -1.52
Tax (+/-)
EUR -2,183,164.22
Annual surplus / annual deficit
EUR 13,562,629.29
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.47 |
|
|
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.