MIRA INFORM REPORT

 

 

Report Date :

21.11.2014

 

IDENTIFICATION DETAILS

 

Name :

SCHNEEBERGER GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG

 

 

Registered Office :

Gräfenau 12 D 75339 Höfen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

1923

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of metal forming machinery

 

 

No of Employees :

436

 

 

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

 

Company name and address

 

SCHNEEBERGER GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG

 

 Company Status:      active

 

Gräfenau 12

D 75339 Höfen

 

Telephone:07081/782-0

 Telefax:  07081/782-124

  Homepage: www.schneeberger.com

  E-mail:   info-d@schneeberger.com

 

 VAT no.:             DE144602286

 

 

CONCLUSION

 

 Business relations are permissible.

 

 LEGAL FORM              Private limited company

 Date of foundation:      1923

 Shareholders'

 agreement:                   17.06.1965

 Registered on:             27.07.1965

 Commercial Register:   Local court 70190 Stuttgart

 under:                          HRB 330329

 

Share capital                   

 

EUR          2,300,813.47

 

 

Shareholder:

 

Schneeberger Holding AG

CH CH- Roggwil

Legal form: Other legal form

Share:             EUR          2,300,813.47

 

 

 Manager:

                      Hans-Hermann Rahlmeyer

                      D 64683 Einhausen

                      having sole power of representation

                      born: 29.04.1961

                      Profession: Businessman

 Proxy:

                      Klaus-Dieter Götz

                      D 74372 Sersheim

                      authorized to jointly represent the company

                      born: 26.08.1959

                      Profession: Businessman

 Proxy:

                      Egbert Strahler

                      D 75331 Engelsbrand

                      authorized to jointly represent the company

                      born: 27.05.1953

 Proxy:

                      Christof Rechkemmer

                      D 75210 Keltern

                      authorized to jointly represent the company

                      born: 17.01.1964

                      Profession: Businessman

                      Marital status: married

 Proxy:

                      Schönbach Peter

                      D 72820 Sonnenbühl

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 28410   Manufacture of metal forming machinery

 

 

BRANCHES AND FACTORIES

 

 Works:

                      Schneeberger Gesellschaft mit beschränkter

                      Haftung

                      Walmbergsweg 9

                      D 39112 Magdeburg

 Branch:

                      Schneeberger Gesellschaft mit beschränkter

                      Haftung

                      Floethütte 9

                      D 41749 Viersen

                      TEL.: 02162/67415

                      FAX.: 02162/961572

 

 

FINANCIAL INFORMATION

 

 Payment experience:  cash discount/within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

REAL ESTATE

 

 Type of ownership:       proprietor

 Share:                          100.00 %

 Address                       Gräfenau 12

                                    D 75339 Höfen

 Type of real estate:      factory building

 

 Value at selling price:               EUR          7,669,000.00

 Encumbrances:                           EUR          2,000,000.00

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 BADEN-WÜRTTEMBERGISCHE BANK/LANDESBANK BADEN-WÜRTTEMBERG, 75172

 PFORZHEIM

 Sort. code: 60050101

 BIC: SOLADEST600

 

 Further bank

 POSTBANK, 70148 STUTTGART

 Sort. code: 60010070

 BIC: PBNKDEFFXXX

 

 

 FINANCIAL FIGURES

 

 Turnover:            2012               EUR        100,742,646.00

                      2013               EUR        101,000,000.00

 Expected turnover:                      EUR        101,500,000.00

 Profit:              2012               EUR          5,333,487.00

 further business figures:

 Equipment:                              EUR          1,789,391.00

 Ac/ts receivable:                       EUR         12,237,460.00

 Liabilities:                            EUR         26,340,733.00

 Employees:                                                    436

 - Trainees:                                                    23

 

 

 BALANCE SHEETS

 

 Balance sheet ratios                 01.01.2012 - 31.12.2012

 Equity ratio [%]:                                    53.93

 Liquidity ratio:                                      0.71

 Return on total capital [%]:                    8.69

 

 Balance sheet ratios                 01.01.2011 - 31.12.2011

 Equity ratio [%]:                                      54.32

 Liquidity ratio:                                        0.79

 Return on total capital [%]:                    13.56

 

 Balance sheet ratios                 01.01.2010 - 31.12.2010

 Equity ratio [%]:                                   48.83

 Liquidity ratio:                                      0.57

 Return on total capital [%]:                     4.74

 

 Balance sheet ratios                 01.01.2009 - 31.12.2009

 Equity ratio [%]:                                    47.89

 Liquidity ratio:                                       0.37

 Return on total capital [%]:                    -10.87

 

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         61,844,104.49

  Fixed assets                           EUR         30,360,438.74

   Intangible assets                     EUR            171,568.08

    Concessions, licences, rights        EUR            171,568.08

   Tangible assets                       EUR         30,188,870.66

    Land / similar rights                EUR         14,254,202.37

    Plant / machinery                    EUR         11,718,514.81

    Other tangible assets / fixtures and

    fittings                             EUR          1,789,390.63

    Advance payments made / construction

    in progress                          EUR          2,426,762.85

  Current assets                         EUR         31,289,817.50

   Stocks                                EUR         15,796,069.96

    Raw materials, consumables and

    supplies                             EUR          5,655,037.82

    Finished goods / work in progress    EUR         10,141,032.14

   Accounts receivable                   EUR         12,237,459.74

    Trade debtors                        EUR          9,660,721.59

    Amounts due from related companies   EUR            937,937.16

    Other debtors and assets             EUR          1,638,800.99

   Liquid means                          EUR          3,256,287.80

  Remaining other assets                 EUR            193,848.25

   Accruals (assets)                     EUR             86,295.25

    thereof disagio                      EUR             13,971.16

   Deferred taxes (assets)               EUR            107,553.00

 

 LIABILITIES                             EUR         61,844,104.49

  Shareholders' equity                   EUR         26,981,371.83

   Capital                               EUR          2,300,813.47

    Subscribed capital (share capital)   EUR          2,300,813.47

   Reserves                              EUR         19,347,071.01

    Capital reserves                     EUR          9,260,046.51

    Retained earnings / revenue reserves EUR         10,087,024.50

   Balance sheet profit/loss (+/-)       EUR          5,333,487.35

    Annual surplus / annual deficit      EUR          5,333,487.35

  Items between shareholders' equity and

  debt capital                           EUR          1,003,522.24

   Allowances / bonuses                  EUR          1,003,522.24

  Provisions                             EUR          7,518,477.86

   Pension provisions and comparable

   provisions                            EUR          1,701,215.00

   Provisions for taxes                  EUR          3,821,972.12

   Other / unspecified provisions        EUR          1,995,290.74

  Liabilities                            EUR         26,340,732.56

   thereof total due to shareholders     EUR          5,916,954.20

   Financial debts                       EUR         15,681,851.50

    Liabilities due to banks             EUR         13,681,851.50

    Loans / obligations / debentures     EUR          2,000,000.00

   Other liabilities                     EUR         10,658,881.06

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,165,406.24

    Liabililties due to related companiesEUR          7,232,970.52

    Unspecified other liabilities        EUR            260,504.30

     thereof liabilities from tax /

     financial authorities               EUR            166,890.68

     thereof liabilities from social

     security                            EUR             11,510.61

  Guarantees and other commitments       EUR         16,270,000.00

   Other guarantees and other commitmentsEUR         16,270,000.00

 

 PROFIT AND LOSS ACCOUNT

 

(cost-summary method) according to Comm.

 Code (HGB)

 

  Sales                                  EUR        100,742,646.06

  Inventory change + own costs (+/-)     EUR             30,702.61

   Inventory change (+/-)                EUR             30,702.61

  Other operating income                 EUR            649,592.58

  Cost of materials                      EUR         58,645,913.11

   Raw materials and supplies, purchased

   goods                                 EUR         47,867,985.10

   Purchased services                    EUR         10,777,928.01

  Gross result (+/-)                     EUR         42,777,028.14

  Staff expenses                         EUR         19,550,935.65

   Wages and salaries                    EUR         16,558,196.32

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,992,739.33

  Total depreciation                     EUR          3,062,009.69

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          3,062,009.69

  Other operating expenses               EUR         11,477,648.23

  Operating result from continuing

  operations                             EUR          8,686,434.57

  Interest result (+/-)                  EUR         -1,195,697.96

   Interest and similar income           EUR             24,234.77

   Interest and similar expenses         EUR          1,219,932.73

    thereof paid to related companies    EUR            355,706.55

  Financial result (+/-)                 EUR         -1,195,697.96

  Result from ordinary operations (+/-)  EUR          7,490,736.61

  Extraordinary income                   EUR             28,056.93

  Extraordinary expenses                 EUR             57,075.82

   Other extraordinary expenses          EUR             57,075.82

  Extraordinary result (+/-)             EUR            -29,018.89

  Income tax / refund of income tax (+/-)EUR         -2,097,443.88

  Other taxes / refund of taxes          EUR            -30,786.49

  Tax (+/-)                              EUR         -2,128,230.37

  Annual surplus / annual deficit        EUR          5,333,487.35

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:                                                                                    01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         51,629,292.63

  Fixed assets                           EUR         23,867,795.46

   Intangible assets                     EUR            231,877.68

    Concessions, licences, rights        EUR            231,877.68

   Tangible assets                       EUR         23,635,917.78

    Land / similar rights                EUR         14,726,775.43

    Plant / machinery                    EUR          6,692,703.83

    Other tangible assets / fixtures and

    fittings                             EUR          1,242,908.62

    Advance payments made / construction

    in progress                          EUR            973,529.90

  Current assets                         EUR         27,618,754.34

   Stocks                                EUR         13,844,139.23

    Raw materials, consumables and

    supplies                             EUR          3,733,809.70

    Finished goods / work in progress    EUR         10,110,329.53

   Accounts receivable                   EUR         12,939,842.12

    Trade debtors                        EUR         10,074,074.81

    Amounts due from related companies   EUR          2,068,852.49

    Other debtors and assets             EUR            796,914.82

   Liquid means                          EUR            834,772.99

  Remaining other assets                 EUR            142,742.83

   Accruals (assets)                     EUR             87,678.83

    thereof disagio                      EUR             19,958.81

   Deferred taxes (assets)               EUR             55,064.00

 

 LIABILITIES                            EUR         51,629,292.63

  Shareholders' equity                   EUR         19,647,884.48

   Capital                               EUR          2,300,813.47

    Subscribed capital (share capital)   EUR          2,300,813.47

   Reserves                              EUR         10,323,073.52

    Capital reserves                     EUR          7,260,046.51

    Retained earnings / revenue reserves EUR          3,063,027.01

   Balance sheet profit/loss (+/-)       EUR          7,023,997.49

    Annual surplus / annual deficit      EUR          7,023,997.49

  Provisions                             EUR          6,317,253.21

   Pension provisions and comparable

   provisions                            EUR          1,684,300.00

   Provisions for taxes                  EUR          2,420,380.00

   Other / unspecified provisions        EUR          2,212,573.21

  Liabilities                            EUR         25,664,154.94

   thereof total due to shareholders     EUR          8,367,331.26

   Financial debts                       EUR         12,890,833.91

    Liabilities due to banks             EUR         10,890,833.91

    Loans / obligations / debentures     EUR          2,000,000.00

   Other liabilities                     EUR         12,773,321.03

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,144,931.16

    Liabililties due to related companiesEUR          9,369,246.11

    Unspecified other liabilities        EUR            259,143.76

     thereof liabilities from tax /

     financial authorities               EUR            146,981.45

     thereof liabilities from social

     security                            EUR                  0.00

 

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

 Code (HGB)

  Sales                                  EUR         99,460,342.79

  Inventory change + own costs (+/-)     EUR          2,906,317.43

   Inventory change (+/-)                EUR          2,891,389.84

   Capitalised own costs                 EUR             14,927.59

  Other operating income                 EUR            850,415.21

  Cost of materials                      EUR         60,772,156.80

   Raw materials and supplies, purchased

   goods                                 EUR         47,898,479.53

   Purchased services                    EUR         12,873,677.27

  Gross result (+/-)                     EUR         42,444,918.63

  Staff expenses                         EUR         17,799,083.75

   Wages and salaries                    EUR         15,191,514.37

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,607,569.38

  Total depreciation                     EUR          2,648,001.14

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          2,648,001.14

  Other operating expenses               EUR         11,019,612.64

  Operating result from continuing

  operations                             EUR         10,978,221.10

  Interest result (+/-)                  EUR         -1,219,288.80

   Interest and similar income           EUR             31,543.18

   Interest and similar expenses         EUR          1,250,831.98

    thereof paid to related companies    EUR            401,966.38

  Financial result (+/-)                 EUR         -1,219,288.80

  Result from ordinary operations (+/-)  EUR          9,758,932.30

  Extraordinary income                   EUR             31,288.00

  Extraordinary result (+/-)             EUR             31,288.00

  Income tax / refund of income tax (+/-)EUR         -2,735,794.54

  Other taxes / refund of taxes          EUR            -30,428.27

  Tax (+/-)                              EUR         -2,766,222.81

  Annual surplus / annual deficit        EUR          7,023,997.49

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.10

UK Pound

1

Rs.97.32

Euro

1

Rs.77.91

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SNT

 

 

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.