|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
KALTENBACH & VOIGT GMBH |
|
|
|
|
Registered Office : |
Bismarckring 39, D 88400 Biberach |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Management of holding companies [We tried to confirm / obtain the detailed activity but the same is not
available from any sources] |
|
|
|
|
No of Employees : |
180 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
KALTENBACH
& VOIGT GMBH
Company Status: active
Bismarckring 39
D 88400 Biberach
Telephone: 07351/560
Telefax:
07351/561488
Homepage: www.kavo.de
E-mail:
info@kavo.com
VAT
no.: DE814266551
Business
relations are permissible.
Legal Form Private
limited company
Date of foundation: 2003
Shareholders'
agreement: 12.11.2003
Registered on: 28.07.2004
Commercial Register: Local court 89073 Ulm
under: HRB
641815
Share capital: EUR 50,000.00
Danaher Verwaltungs GmbH
Uhlandstr. 49
D 78554 Aldingen
Legal form: Private
limited company
Share capital: EUR 75,000.00
Share: EUR 50,000.00
Registered on: 19.02.1997
Reg. data: 70190 Stuttgart,
HRB 460866
Profit transfer agreement
Henner Friedrich Witte
Sebastiansbrunnstr. 2
D 82327 Tutzing
having sole power of
representation
born: 21.12.1961
Profession: Businessman
Marital status: married
Manager:
Ludger Althoff
D 33100 Paderborn
having sole power of representation
born: 08.05.1964
Profession: Businessman
Manager:
Thomas Herrmann
D 89073 Ulm
having sole power of
representation
born: 21.12.1970
Franz Häring
D 88400 Biberach
authorized to jointly
represent the company
born: 10.08.1949
Proxy:
Bernhard Berning
D 61348 Bad Homburg
authorized to jointly
represent the company
born: 03.07.1958
Proxy:
Norbert Glaeske
D 88454 Hochdorf
authorized to jointly
represent the company
born: 22.10.1968
Proxy:
Dirk Rachota
D 88400 Biberach
authorized to jointly
represent the company
born: 08.06.1972
Proxy:
Natalia Hess
D 72622 Nürtingen
authorized to jointly
represent the company
born: 20.10.1979
Proxy:
Bernd Schnakenberg
D 20095 Hamburg
authorized to jointly
represent the company
born: 09.08.1962
Further functions/participations of Henner
Friedrich Witte
(Manager)
Manager:
KaVo Dental GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 8,181,000.00
Registered
on: 03.08.2004
Reg. data: 89073 Ulm, HRB 641816
Manager:
Kurt Kaltenbach Stiftung
GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 2,000,000.00
Registered
on: 25.05.2005
Reg. data: 89073 Ulm, HRB 641879
Manager:
Kerr Gesellschaft mit
beschränkter Haftung
Murgstr. 1 /14
D 76437 Rastatt
Legal form: Private
limited company
Share capital: EUR 153,387.56
Registered
on: 26.06.1972
Reg. data: 68159 Mannheim, HRB 522335
Further functions/participations of Ludger
Althoff (Manager)
Manager:
KaVo Dental GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 8,181,000.00
Registered
on: 03.08.2004
Reg. data: 89073 Ulm, HRB 641816
Further functions/participations of Thomas
Herrmann (Manager)
Manager:
KaVo Dental GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 8,181,000.00
Registered
on: 03.08.2004
Reg. data:
89073 Ulm, HRB 641816
Manager:
Kaltenbach & Voigt
Holding GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 25.11.2008
Reg. data: 89073 Ulm, HRB 722861
Manager:
Instrumentarium Dental
GmbH
Schutterstr. 12
D 77746 Schutterwald
Legal form: Private
limited company
Share capital: EUR 128,000.00
Registered
on: 15.12.1998
Reg. data: 79098 Freiburg, HRB 371590
Manager:
Danaher Verwaltungs GmbH
Uhlandstr. 49
D 78554 Aldingen
Legal form: Private
limited company
Share capital: EUR 75,000.00
Registered
on: 19.02.1997
Reg. data: 70190 Stuttgart, HRB 460866
Manager:
Kurt Kaltenbach Stiftung
GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 2,000,000.00
Registered
on: 25.05.2005
Reg. data: 89073 Ulm, HRB 641879
Manager:
KaVo Dental Holding GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 18.06.2010
Reg. data: 89073 Ulm, HRB 725203
12.12.2003 - 24.03.2004 Halde
Siebenundachzigste
Verwaltungsgesellschaft
mbH (AG München
- HRB 150410)
Blütenstr. 21
D 80799 München
Private limited company
24.03.2004 - 28.07.2004 Danaher
Dental Systems GmbH
Uhlandstr. 49
D 78554 Aldingen
Private limited company
28.07.2004 - 05.10.2004 Danaher
Dental Systems GmbH
Bismarckring 39
D 88400 Biberach
Private limited company
24.04.2008 - 24.09.2014 Manager
Colin Ernest Davis
GB - London
Main industrial sector
70101 Management of
holding companies
Shareholder:
KaVo Dental GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 8,181,000.00
Share: EUR 8,181,000.00
Reg. data: 03.08.2004
Local court
89073 Ulm
HRB 641816
Shareholder:
ALLTEC Angewandte Laserlicht
Technologie
Gesellschaft mit
beschränkter Haftung
An der Trave 27-31
D 23923 Selmsdorf
Legal form: Private
limited company
Company Status: active
Share capital: EUR 1,402,933.79
Share: EUR 1,318,621.76
Reg. data: 21.01.2003
Local court
19053 Schwerin
HRB 7884
Shareholder:
Radiometer GmbH
Linsellesstr. 142
D 47877 Willich
Legal form: Private
limited company
Company Status: active
Share capital: EUR 2,045,200.00
Share: EUR 2,045,200.00
Reg. data: 05.08.1991
Local court
47798 Krefeld
HRB 4505
Shareholder:
Kurt Kaltenbach Stiftung
GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 2,000,000.00
Share: EUR 2,000,000.00
Reg. data: 25.05.2005
Local court
89073 Ulm
HRB 641879
Shareholder:
KOLLMORGEN Europe GmbH
Pempelfurtstr. 1
D 40880 Ratingen
Legal form: Private
limited company
Company Status: active
Share capital: EUR 238,000.00
Share: EUR 238,000.00
Reg. data: 03.04.1998
Local court 40227 Düsseldorf
HRB 35844
Shareholder:
Kaltenbach & Voigt
Holding GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 25.11.2008
Local court 89073
Ulm
HRB 722861
Shareholder:
Danaher Evolution GmbH
Bismarckring 39
D 88400 Biberach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 16.06.2005
Local court
89073 Ulm
HRB 641890
Payment experience: within
periods customary in this trade
Negative information: We have no negative information at hand.
Type of ownership: Tenant
Address Bismarckring
39
D 88400 Biberach
Land register documents were not available.
Principal bank
DEUTSCHE BANK, 88382 BIBERACH AN DER RIß
Sort. code: 63070088
BIC: DEUTDESS630
Turnover: 2012 EUR 32,830,005.00
Profit: 2012 EUR 38,062,693.00
Equipment: EUR 1,510,743.00
Ac/ts receivable: EUR 980,902,953.00
Liabilities: EUR 1,671,702,729.00
Employees:
180
Profit transfer agreement to:
Danaher Verwaltungs GmbH
Uhlandstr. 49
D 78554 Aldingen
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 11.43
Liquidity ratio: 0.45
Return on total capital [%]: 2.05
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 9.09
Liquidity ratio: 0.46
Return on total capital [%]: 3.48
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 3.41
Liquidity ratio: 0.51
Return on total capital [%]: 7.88
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 11.65
Liquidity ratio: 0.05
Return on total capital [%]: -0.89
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 2,141,007,070.10
Fixed assets
EUR 1,078,836,908.16
Intangible assets
EUR 6,905,966.15
Concessions, licences, rights
EUR 6,353,607.71
Advance payments for intang. assets
EUR 552,358.44
Tangible assets
EUR 15,045,903.50
Land / similar rights
EUR 13,193,336.28
Plant / machinery
EUR 2,150.05
Other tangible assets / fixtures and
fittings
EUR 1,510,743.49
Advance payments made / construction
in progress
EUR 339,673.68
Financial assets
EUR 1,056,885,038.51
Shares in participations /
subsidiaries and the like
EUR 1,056,885,038.51
Shares in related companies
EUR 1,056,885,038.51
Current assets
EUR 1,061,963,462.48
Stocks
EUR 22,703.38
Finished goods / work in progress
EUR 22,703.38
Accounts receivable
EUR 980,902,953.43
Amounts due from related companies
EUR 980,283,874.81
Other debtors and assets
EUR 619,078.62
Liquid means
EUR 81,037,805.67
Remaining other assets
EUR 206,699.46
Accruals (assets)
EUR 206,699.46
LIABILITIES EUR 2,141,007,070.10
Shareholders' equity
EUR 458,286,330.15
Capital
EUR 50,000.00
Subscribed capital (share capital)
EUR 50,000.00
Reserves
EUR 458,236,330.15
Capital reserves
EUR 458,236,330.15
Provisions EUR 11,018,011.18
Pension provisions and comparable
provisions
EUR 8,197,058.25
Other / unspecified provisions
EUR 2,820,952.93
Liabilities
EUR 1,671,702,728.77
Financial debts
EUR 293,014,423.46
Liabilities due to banks
EUR 293,014,423.46
Other liabilities
EUR 1,378,688,305.31
Trade creditors (for IAS incl. bills
of exchange)
EUR 886,571.97
Liabililties due to related companiesEUR 1,377,583,766.18
Unspecified other liabilities
EUR 217,967.16
thereof liabilities from tax /
financial authorities
EUR 201,656.14
thereof liabilities from social
security
EUR 3,133.43
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 32,830,005.25
Inventory change + own costs (+/-)
EUR 53,190.00
Capitalised own costs
EUR 53,190.00
Other operating income
EUR 190,641.00
Gross
result (+/-) EUR 33,073,836.25
Staff expenses
EUR 15,355,770.97
Wages and salaries
EUR 13,023,395.92
Social security contributions and
expenses for pension plans and
benefits
EUR 2,332,375.05
Total depreciation
EUR 4,456,502.16
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 4,456,502.16
Other operating expenses
EUR 8,527,467.91
Operating result from continuing
operations
EUR 4,734,095.21
Result from participating interests
(+/-) EUR 58,742,323.89
Expenses / income from participations EUR 58,742,323.89
Income from transfer of profits
EUR 58,742,323.89
Interest result (+/-)
EUR -25,334,920.90
Interest and similar income
EUR 8,461,878.75
thereof from related companies
EUR 8,385,386.01
Interest and similar expenses
EUR 33,796,799.65
thereof paid to related companies
EUR 32,692,734.39
Financial result (+/-)
EUR 33,407,402.99
Result from ordinary operations (+/-)
EUR 38,141,498.20
Expenses for transfer of profits to a
parent company
EUR 38,062,692.86
Income tax / refund of income tax
(+/-)EUR -2,452.36
Other taxes / refund of taxes
EUR -76,352.98
Tax
(+/-)
EUR -78,805.34
Annual surplus / annual deficit
EUR 0.00
Type
of balance
sheet: Company
balance sheet
Financial year: 01.01.2011
- 31.12.2011
ASSETS EUR 2,058,973,290.74
Fixed assets
EUR 1,006,342,940.41
Intangible assets
EUR 9,123,648.87
Concessions, licences, rights
EUR 8,234,836.82
Advance payments for intang. assets
EUR 888,812.05
Tangible assets
EUR 15,291,039.94
Land / similar rights
EUR 13,731,728.17
Plant / machinery
EUR 2,460.85
Other tangible assets / fixtures and
fittings
EUR 1,505,566.92
Advance payments made / construction
in progress
EUR 51,284.00
Financial assets
EUR 981,928,251.60
Shares in participations /
subsidiaries and the like
EUR 981,928,251.60
Shares in related companies
EUR 981,928,251.60
Current assets
EUR 1,052,391,546.22
Stocks
EUR 22,703.38
Finished goods / work in progress
EUR 22,703.38
Accounts receivable
EUR 1,022,282,088.07
Amounts due from related companies
EUR 1,021,726,359.23
Other debtors and assets
EUR 555,728.84
Liquid means EUR 30,086,754.77
Remaining other assets
EUR 238,804.11
Accruals (assets)
EUR 238,804.11
LIABILITIES EUR 2,058,973,290.74
Shareholders' equity
EUR 410,428,021.55
Capital
EUR 50,000.00
Subscribed capital (share capital)
EUR 50,000.00
Reserves
EUR 410,378,021.55
Capital reserves
EUR 410,378,021.55
Provisions
EUR 11,181,534.50
Pension provisions and comparable
provisions
EUR 7,861,361.97
Other / unspecified provisions
EUR 3,320,172.53
Liabilities
EUR 1,637,363,734.69
Financial debts
EUR 260,187,820.59
Liabilities due to banks
EUR 260,187,820.59
Other liabilities EUR 1,377,175,914.10
Trade creditors (for IAS incl. bills
of exchange)
EUR 778,660.76
Liabililties due to related companiesEUR 1,376,176,669.90
Unspecified other liabilities
EUR 220,583.44
thereof liabilities from tax /
financial authorities
EUR 203,733.92
thereof liabilities from social
security
EUR 6,266.85
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 32,515,117.05
Inventory change + own costs (+/-)
EUR 48,336.80
Capitalised own costs
EUR 48,336.80
Other operating income
EUR 220,202.97
Gross result (+/-)
EUR 32,783,656.82
Staff expenses
EUR 15,057,850.89
Wages and salaries EUR 12,869,199.09
Social security contributions and
expenses for pension plans and
benefits
EUR 2,188,651.80
Total depreciation
EUR 4,501,353.84
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 4,501,353.84
Other operating expenses
EUR 8,720,150.70
Operating result from continuing
operations EUR 4,504,301.39
Result from participating interests
(+/-)
EUR 77,729,533.71
Expenses / income from participations EUR 77,729,533.71
Income from transfer of profits EUR
77,729,533.71
Interest result (+/-)
EUR -21,737,384.96
Interest and similar income
EUR 19,410,310.24
thereof from related companies
EUR 19,261,195.81
Interest and similar expenses
EUR 41,147,695.20
thereof paid to related companies
EUR 38,072,419.20
Other financial result
EUR 0.00
Income from securities and loans from
financial assets
EUR 0.00
thereof related companies
EUR 0.00
Financial result (+/-)
EUR 55,992,148.75
Result from ordinary operations (+/-)
EUR 60,496,450.14
Expenses for transfer of profits to a
parent company
EUR 60,716,155.54
Income tax / refund of income tax (+/-)EUR 297,188.00
Other taxes / refund of taxes
EUR -77,482.60
Tax
(+/-) EUR 219,705.40
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.