MIRA INFORM REPORT

 

 

Report Date :

27.05.2014              

 

IDENTIFICATION DETAILS

 

Name :

GALLUS DRUCKMASCHINEN GMBH

 

 

Registered Office :

Steinbruchstr. 5, D 35428 Langgöns

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.02.1990

 

 

Com. Reg. No.:

HRB 1762

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of machinery for paper and paperboard production.

 

 

No. of Employees :

117

 

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

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

 

Company name and address

 

Gallus Druckmaschinen GmbH

 

 Company Status:      active

                      Steinbruchstr. 5

                      D 35428 Langgöns

                      Telephone:06447/9250

                      Telefax:  06447/6064

                      Homepage: www.gallus-group.com

                      E-mail:   Info@gallus-group.com

 

 

VAT no.          

 

DE112595635

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company Summary

 

LEGAL FORM               Private limited company

Registered on:              12.02.1990

Commercial Register:    Local court 35390 Gießen

under:                            HRB 1762

 

 

Share capital                 

 

EUR          2,045,167.52

 

 

Shareholder:

                      Gallus Holding AG

                      Spitalgasse 8

                      CH  St. Gallen

                      Legal form: Other legal form

                      Share:             EUR          2,045,167.52

 Manager:

                      Udo Gabriel

                      Am Finkenhain 12

                      D 34305 Niedenstein

                      having sole power of representation

                      born: 06.06.1956

 Proxy:

                      Helen Schröder

                      Borngartenstr. 12

                      D 35510 Butzbach

                      authorized to jointly represent the company

                      born: 29.05.1962

                      née: Henn

                      Marital status: married

 Proxy:

                      Manfred Rath

                      D 35510 Butzbach

                      authorized to jointly represent the company

                      born: 06.06.1953

                      Profession: Businessman

                      Marital status: married

 Proxy:

                      Stefan Heiniger

                      CH  Berg

                      authorized to jointly represent the company

                      born: 24.01.1973

                      Nationality: Swiss

 Proxy:

                      Gunnar Voss von Dahlen

                      CH  St. Gallen

                      authorized to jointly represent the company

                      born: 23.05.1969

                      Nationality: Swiss

 

 

COMPANY HISTORY

 

 12.02.1990 - 07.01.2005  arsoma Druckmaschinen GmbH

                          Sondermaschinenbau

                          Steinbruchstr. 5

                          D 35428 Langgöns

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 28950   Manufacture of machinery for paper and paperboard production

 

 Secondary industrial sector

 46692   Wholesale of other machinery

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2012

 

 

REAL ESTATE

 

Type of ownership:        Proprietor

Share:                           100.00 %

Address                        Steinbruchstr. 5

                                    D 35428 Langgöns

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 DEUTSCHE BANK, 35348 GIEßEN, LAHN

 Sort. code: 51370008

 BIC: DEUTDEFF513

 

 Further bank

 SPARKASSE WETZLAR, 35576 WETZLAR

 Sort. code: 51550035

 BIC: HELADEF1WET

 

 

FINANCIAL FIGURES

 

 Turnover:            2012               EUR         47,722,225.00

                      2013               EUR         45,000,000.00

 Profit:              2012               EUR         -5,866,772.00

 further business figures:

 Equipment:                              EUR            558,283.00

 Ac/ts receivable:                       EUR         13,394,691.00

 Liabilities:                            EUR         24,652,525.00

 Total numbers of vehicles:                                     14

 - Passenger cars:                                              12

 Employees:                                                    117

 - thereof permanent staff:                                     59

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                       64.40

 Liquidity ratio:                          1.92

 Return on total capital [%]:        -19.01

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                       62.75

 Liquidity ratio:                          1.29

 Return on total capital [%]:        -7.56

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                       66.02

 Liquidity ratio:                          1.46

 Return on total capital [%]:       0.11

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                       59.55

 Liquidity ratio:                          1.31

 Return on total capital [%]:        -23.72

 

 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         30,864,953.94

  Fixed assets                           EUR          6,345,934.12

   Intangible assets                     EUR             61,974.00

    Concessions, licences, rights        EUR             61,974.00

   Tangible assets                       EUR          6,283,960.12

    Land / similar rights                EUR          5,556,224.99

    Plant / machinery                    EUR            169,452.00

    Other tangible assets / fixtures and

    fittings                             EUR            558,283.13

  Current assets                         EUR         24,518,695.34

   Stocks                                EUR         11,053,947.87

    Raw materials, consumables and

    supplies                             EUR          5,980,535.11

    Finished goods / work in progress    EUR          4,884,258.28

    Advance payments made                EUR            189,154.48

   Accounts receivable                   EUR         13,394,691.49

    Trade debtors                        EUR          6,818,470.43

    Amounts due from related companies   EUR          5,662,327.68

    Other debtors and assets             EUR            913,893.38

   Liquid means                          EUR             70,055.98

  Remaining other assets                 EUR                324.48

   Accruals (assets)                     EUR                324.48

 

 LIABILITIES                             EUR         30,864,953.94

  Shareholders' equity                   EUR          2,271,425.37

   Capital                               EUR          2,045,167.52

    Subscribed capital (share capital)   EUR          2,045,167.52

   Reserves                              EUR         17,023,720.59

    Capital reserves                     EUR         16,099,988.59

    Retained earnings / revenue reserves EUR            923,732.00

   Balance sheet profit/loss (+/-)       EUR        -16,797,462.74

    Profit / loss brought forward        EUR        -10,930,691.21

    Annual surplus / annual deficit      EUR         -5,866,771.53

  Provisions                             EUR          3,722,521.88

   Provisions for taxes                  EUR             15,000.00

   Other / unspecified provisions        EUR          3,707,521.88

  Liabilities                            EUR         24,652,524.81

   Other liabilities                     EUR         24,652,524.81

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          2,038,981.26

    Liabilities from received advance

    payments                             EUR            716,726.88

    Liabilities due to shareholders      EUR         17,604,505.28

    Liabililties due to related companiesEUR          3,599,108.20

    Unspecified other liabilities        EUR            693,203.19

     thereof liabilities from tax /

     financial authorities               EUR            232,842.75

     thereof liabilities from social

     security                            EUR              8,671.38

  Other liabilities                      EUR            218,481.88

   Deferrals (liabilities)               EUR            218,481.88

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         47,722,225.31

  Inventory change + own costs (+/-)     EUR         -5,175,324.55

   Inventory change (+/-)                EUR         -5,191,861.56

   Capitalised own costs                 EUR             16,537.01

  Other operating income                 EUR            866,737.02

  Cost of materials                      EUR         29,255,874.17

   Raw materials and supplies, purchased

   goods                                 EUR         27,070,880.64

   Purchased services                    EUR          2,184,993.53

  Gross result (+/-)                     EUR         14,157,763.61

  Staff expenses                         EUR          8,843,082.39

   Wages and salaries                    EUR          7,486,297.53

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,356,784.86

  Total depreciation                     EUR            481,117.17

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            481,117.17

  Other operating expenses               EUR         10,043,835.72

  Operating result from continuing

  operations                             EUR         -5,210,271.67

  Interest result (+/-)                  EUR           -642,831.48

   Interest and similar expenses         EUR            642,831.48

    thereof paid to related companies    EUR            702,758.01

  Financial result (+/-)                 EUR           -642,831.48

  Result from ordinary operations (+/-)  EUR         -5,853,103.15

  Other taxes / refund of taxes          EUR            -13,668.48

  Tax (+/-)                              EUR            -13,668.48

  Annual surplus / annual deficit        EUR         -5,866,771.63

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         31,063,478.64

  Fixed assets                           EUR          6,731,971.72

   Intangible assets                     EUR            108,221.00

    Concessions, licences, rights        EUR            108,221.00

   Tangible assets                       EUR          6,623,750.72

    Land / similar rights                EUR          5,765,026.99

    Plant / machinery                    EUR            232,557.00

    Other tangible assets / fixtures and

    fittings                             EUR            626,166.73

  Current assets                         EUR         24,331,189.64

   Stocks                                EUR         14,241,738.06

    Raw materials, consumables and

    supplies                             EUR          4,163,438.22

    Finished goods / work in progress    EUR         10,076,119.84

    Advance payments made                EUR              2,180.00

   Accounts receivable                   EUR         10,036,526.42

    Trade debtors                        EUR          6,779,590.31

    Amounts due from related companies   EUR          2,840,440.86

    Other debtors and assets             EUR            416,495.25

   Liquid means                          EUR             52,925.16

  Remaining other assets                 EUR                317.28

   Accruals (assets)                     EUR                317.28

 

 LIABILITIES                             EUR         31,063,478.64

  Shareholders' equity                   EUR          2,067,595.83

   Capital                               EUR          2,045,167.52

    Subscribed capital (share capital)   EUR          2,045,167.52

   Reserves                              EUR         10,953,119.52

    Capital reserves                     EUR         10,029,387.52

    Retained earnings / revenue reserves EUR            923,732.00

   Balance sheet profit/loss (+/-)       EUR        -10,930,691.21

    Profit / loss brought forward        EUR         -8,583,719.75

    Annual surplus / annual deficit      EUR         -2,346,971.46

  Provisions                             EUR          3,433,569.93

   Provisions for taxes                  EUR             15,000.00

   Other / unspecified provisions        EUR          3,418,569.93

  Liabilities                            EUR         25,287,273.35

   Other liabilities                     EUR         25,287,273.35

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,021,430.37

    Liabilities from received advance

    payments                             EUR            919,737.75

    Liabilities due to shareholders      EUR         17,426,113.00

    Liabililties due to related companiesEUR          3,397,347.51

    Unspecified other liabilities        EUR            522,644.72

     thereof liabilities from tax /

     financial authorities               EUR             72,745.31

     thereof liabilities from social

     security                            EUR             11,344.18

  Other liabilities                      EUR            275,039.53

   Deferrals (liabilities)               EUR            275,039.53

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         44,431,322.81

  Inventory change + own costs (+/-)     EUR          2,413,860.29

   Inventory change (+/-)                EUR          2,297,121.39

   Capitalised own costs                 EUR            116,738.90

  Other operating income                 EUR            448,235.15

  Cost of materials                      EUR         31,405,373.95

   Raw materials and supplies, purchased

   goods                                 EUR         29,411,641.47

   Purchased services                    EUR          1,993,732.48

  Gross result (+/-)                     EUR         15,888,044.30

  Staff expenses                         EUR          7,132,970.07

   Wages and salaries                    EUR          5,928,223.77

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,204,746.30

  Total depreciation                     EUR            542,368.84

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            542,368.84

  Other operating expenses               EUR          9,969,139.24

  Operating result from continuing

  operations                             EUR         -1,756,433.85

  Interest result (+/-)                  EUR           -579,223.85

   Interest and similar income           EUR             19,938.85

   Interest and similar expenses         EUR            599,162.70

    thereof paid to related companies    EUR            581,815.70

  Financial result (+/-)                 EUR           -579,223.85

  Result from ordinary operations (+/-)  EUR         -2,335,657.70

  Other taxes / refund of taxes          EUR            -11,313.76

  Tax (+/-)                              EUR            -11,313.76

  Annual surplus / annual deficit        EUR        

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.59

UK Pound

1

Rs.98.66

Euro

1

Rs.79.81

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.