|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
WUMAG
TEXROLL GMBH & CO. KG |
|
|
|
|
Registered Office : |
Düsseldorfer Str. 100 D 47809 Krefeld
Post Box: 93 19, D 47750 Krefeld |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1948 |
|
|
|
|
Com. Reg. No.: |
HRA 3710 |
|
|
|
|
Legal Form : |
Ltd partnership with priv. ltd.
company as general partner |
|
|
|
|
Line of Business : |
Manufacture of machinery for textile,
apparel and leather production |
|
|
|
|
No of Employees : |
85 |
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 |
WUMAG Texroll GmbH & Co. KG
Company Status: active
Düsseldorfer Str. 100
D 47809 Krefeld
Post Box: 93 19, D 47750 Krefeld
Telephone:02151/526-300
Telefax: 02151/526-369
Homepage: www.wumag-texroll.de
E-mail: texroll@wumag-texroll.de
VAT no.: DE179873046
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 1948
Registered on: 03.05.1996
Register of companies: Local
court 47798 Krefeld
under: HRA
3710
Total cap. contribution: EUR 400,000.00
FULLMASCH GmbH
Düsseldorfer Str. 100
D 47809 Krefeld
Legal form: Private
limited company
Share capital: EUR 250,000.00
Share: EUR 300,000.00
Registered on: 21.08.2012
Reg. data: 47798 Krefeld,
HRB 14017
Limited partner:
WT Beteiligungs-GmbH
Düsseldorfer Str. 100
D 47809 Krefeld
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 100,000.00
Registered on: 04.02.2011
Reg. data: 47798 Krefeld,
HRB 13333
WUMAG TEXROLL Verwaltungs
GmbH
Düsseldorfer Str. 100
D 47809 Krefeld
Post Box:
93 19, D 47750 Krefeld
Legal form: Private
limited company
Share capital: EUR 25,600.00
Registered on: 19.04.1996
Reg. data: 47798 Krefeld,
HRB 5868
FULLMASCH GmbH
Düsseldorfer Str. 100
D 47809 Krefeld
Legal form: Private
limited company
Share capital: EUR 250,000.00
Share: EUR 25,600.00
Registered on: 21.08.2012
Reg. data: 47798 Krefeld,
HRB 14017
Siyou Yan
D 47798 Krefeld
having sole power of
representation
born: 22.09.1978
Nationality: Chinese
Rüdiger Müller
Drieschweg 13
D 47804 Krefeld
authorized to jointly
represent the company
born: 02.01.1968
Profession: Businessman
Proxy:
Rüdiger Müller
Drieschweg 13
D 47804 Krefeld
authorized to jointly
represent the company
born: 02.01.1968
Profession: Businessman
Proxy:
Wolfgang Römer
D 52080 Aachen
authorized to jointly
represent the company
born: 16.09.1968
Proxy:
Jue Xu
D 47809 Krefeld
authorized to jointly represent
the company
born: 09.06.1973
1948 - 10.10.1990 WUMAG
GmbH
D 47809 Krefeld
Ltd partnership with priv.
ltd. company
as
general partner
10.10.1990 - 03.05.1996 WUMAG
Löbau GmbH
D 47809 Krefeld
Ltd partnership with priv.
ltd. company
as general partner
Main
industrial sector
28940
Manufacture of machinery for textile, apparel and leather
production
28950
Manufacture of machinery for paper and paperboard
production
28960
Manufacture of machinery for processing plastics and
rubber
Payment experience: within agreed terms
Negative information: We have no
negative information at hand.
The maximum credit is our
recommendation for the maximum credit limit for the inquired company.
Balance sheet year: 2011
Type of ownership: Tenant
Address Düsseldorfer
Str. 100
D 47809 Krefeld
Real Estate of: WUMAG
TEXROLL Verwaltungs GmbH
Type of ownership: Tenant
Address Düsseldorfer
Str. 100
D 47809 Krefeld
Land register documents were not available.
Principal bank
SPARKASSE KREFELD, 47719 KREFELD
Sort. code: 32050000
BIC: SPKRDE33XXX
Further bank
COMMERZBANK, 47705 KREFELD
Sort. code: 32040024
BIC: COBADEFF320
Equipment: EUR 207,587.00
Ac/ts receivable: EUR 1,908,983.00
Liabilities: EUR 3,761,910.00
Employees: 85
-
thereof permanent staff: 80
-
Trainees:
5
BALANCE SHEETS
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 23.57
Liquidity ratio: 0.61
Return on total capital [%]: 6.55
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: -5.93
Liquidity ratio: 0.60
Return on total capital [%]: -3.38
Balance sheet ratios 01.01.2009 -
31.12.2009
Equity ratio [%]: -14.70
Liquidity ratio: 0.48
Return on total capital [%]: -81.03
Balance sheet ratios 01.01.2008 -
31.12.2008
Equity ratio [%]: 34.18
Liquidity ratio: 1.22
Return on total capital [%]: -11.70
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 5,788,434.49
Fixed assets
EUR 1,729,179.80
Intangible assets
EUR 5,171.00
Tangible assets
EUR 1,724,008.80
Land / similar rights
EUR 1,213,398.80
Plant / machinery
EUR 303,023.00
Other tangible assets / fixtures and
fittings
EUR 207,587.00
Current assets
EUR 4,055,557.71
Stocks
EUR 2,145,450.88
Accounts receivable
EUR 1,908,983.27
Liquid means
EUR 1,123.56
Remaining other assets
EUR 3,696.98
Accruals (assets)
EUR 3,696.98
LIABILITIES EUR 5,788,434.49
Shareholders' equity
EUR 744,413.92
Capital
EUR 744,413.92
Limited partner's capital / capital
of
partially liable partner (LP)
EUR 744,413.92
Limited partner's capital, fixed
capital, capital account I
EUR 400,000.00
Variable capital / variable accountsEUR 1,160,000.00
- Loss brought forward account
EUR 815,586.08
Items between shareholders' equity and
debt capital
EUR 56,100.00
Mezzanine financing
EUR 56,100.00
Contributions of silent partners
EUR 56,100.00
Provisions
EUR 1,226,011.00
Liabilities
EUR 3,761,909.57
thereof total due to shareholders
EUR 621,657.30
Guarantees and other commitments
EUR 2,369,812.36
Guarantees / warranties
EUR 1,458,543.00
Warranties
EUR 1,458,543.00
Sureties / lendings of
creditworthiness
EUR 911,269.36
PROFIT AND LOSS ACCOUNT (cost-summary
method) according to Comm.
Code (HGB)
Gross result (+/-)
EUR 7,631,394.30
Staff expenses
EUR 4,764,648.78
Wages and salaries EUR 4,022,539.35
Social security contributions and
expenses for pension plans and
benefits
EUR 742,109.43
Total depreciation
EUR 219,360.05
Depreciation
on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 219,360.05
Other operating expenses
EUR 2,070,744.62
Operating result from continuing
operations
EUR 576,640.85
Interest result (+/-)
EUR -170,604.18
Interest and similar expenses
EUR 170,604.18
Financial result (+/-)
EUR -170,604.18
Result from ordinary operations (+/-)
EUR 406,036.67
Extraordinary expenses
EUR 27,969.00
Extraordinary result (+/-)
EUR -27,969.00
Other extraordinary income
EUR -3,900.00
thereof compensation payments to
minorities
EUR 3,900.00
Other taxes / refund of taxes
EUR -23,265.08
Tax (+/-)
EUR -23,265.08
Annual surplus / annual deficit
EUR 350,902.59
Type of balance sheet: Company balance sheet
Financial
year: 01.01.2010 - 31.12.2010
ASSETS EUR 4,193,427.24
Fixed assets EUR 524,748.26
Intangible assets
EUR 7,875.00
Other / unspecified intangible assetsEUR 7,875.00
Tangible assets
EUR 516,873.26
Land
/ similar rights EUR 3,841.00
Plant / machinery
EUR 348,441.00
Other tangible assets / fixtures and
fittings
EUR 164,591.26
Current assets EUR 2,938,353.00
Stocks
EUR 1,384,462.18
Accounts receivable
EUR 1,473,797.18
Other debtors and assets
EUR 1,473,797.18
Liquid means
EUR 80,093.64
Remaining other assets
EUR 730,325.98
Accruals (assets)
EUR 11,120.52
Deficit not covered by shareholders'
equity EUR 719,205.46
LIABILITIES EUR 4,193,427.24
Items between shareholders' equity and
debt capital
EUR 78,000.00
Mezzanine financing EUR 78,000.00
Contributions of silent partners
EUR 78,000.00
Provisions
EUR 1,078,683.00
Liabilities
EUR 3,036,744.24
Other liabilities EUR 3,036,744.24
Unspecified other liabilities
EUR 3,036,744.24
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-)
EUR 6,004,754.96
Staff expenses
EUR 3,919,332.62
Wages and salaries
EUR 3,320,670.75
Social security contributions and
expenses for pension plans and
benefits
EUR 598,661.87
Total depreciation
EUR 204,877.76
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 204,877.76
Other operating expenses
EUR 1,796,209.60
Operating result from continuing
operations
EUR 84,334.98
Interest result (+/-)
EUR -194,284.68
Interest and similar expenses
EUR 194,284.68
Financial result (+/-)
EUR -194,284.68
Result from ordinary operations (+/-)
EUR -109,949.70
Extraordinary income
EUR 504,455.57
Extraordinary result (+/-) EUR 504,455.57
Expenses for transfer of profits to a
parent company
EUR 3,750.00
Other taxes / refund of taxes
EUR -7,490.17
Tax (+/-)
EUR -7,490.17
Annual surplus / annual deficit
EUR 383,265.70
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SHG |
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.