MIRA INFORM REPORT

 

 

Report Date :

28.11.2014

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL PVQ SE

 

 

Formerly Known As :

Q Cells Se

 

 

Registered Office :

Sonnenallee 17-21, D 06766 Bitterfeld-Wolfen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

01.01.2008

 

 

Com. Reg. No.:

HRB 8150

 

 

Legal Form :

European Company (SE)

 

 

Line of Business :

·         Manufacturer of solar cells and modules

·         Manufacturer of electricity distribution and control equipment

·         Agents involved in the sale of electro technical and electronical products

·         Engaged as an Engineering activities in the field of technical sectoral planning and engineering design

 

 

No of Employees :

1,814

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Insolvent

Payment Behaviour :

----

Litigation :

----

 

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

 

Global PVQ SE

 

 

Previously Known As   

 

Q Cells Se

 

 

Company Status

 

insolvent                  since: 01.07.2012

 

 

Company address

 

Sonnenallee 17-21

D 06766 Bitterfeld-Wolfen

Telephone:        0345/6787814

Telefax:            0345/6787810

Homepage:       www.pvqse.de

E-mail:              contact@pvsqe.de

 

 

VAT no          

 

DE813076188

 

Tax ID number

 

 113/100/00223

 

 

CONCLUSION

 

Business relations on credit basis are not permissible.

 

 

Synthesis

 

LEGAL FORM               European Company (SE)

Date of foundation:       01.01.2008

Registered on:              23.10.2008

Commercial Register:    Local court 39576 Stendal

under:                                       HRB 8150

Share capital:                 EUR        176,343,630.00

 

 

Shareholder

 

Taube Hodson Stonex Partners Ltd.

GB SWA 1A London

Legal form: Other legal form

Share:                               2.970 %

 

 Shareholder:

                      Good Energies S.a.r.I. Solar Investments

                      L  Luxemburg

                      Legal form: Other legal form

                      Share:                              19.900 %

 Shareholder:

                      Streubesitz

                      Sonnenallee 17-21

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Other legal form

                      Share:                              77.130 %

 

Member of the Board of Directors

 

Frank Pollmer

D 01665 Klipphausen

born: 06.12.1950

Profession: graduate engineer

Marital status: married

 

President of the Supervisory Board

 

Prof. Dr. Karlheinz Hornung

D 82031 Grünwald

born: 24.12.1950

 

Further functions/participations of Frank Pollmer (Member of the Board of Directors)

 

Proprietor:

                      Frank Pollmer

                      Groitzscher Str. 9

                      D 01665 Triebischtal

                      Legal form: Unregistered commercial

                                  enterprise

 

 Manager:

                      Global PVQ Vermögensverwaltungs GmbH

                      Guardianstr. 16 OT Thalheim

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         16.12.2013

                      Reg. data:  39576 Stendal, HRB 20138

 Manager:

                      Global PVQ Beteiligungs GmbH

                      Sonnenallee 17-21

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         20.05.2008

                      Reg. data:  39576 Stendal, HRB 7612

 Manager:

                      Archiv Taubenheim GmbH

                      Gewerbepark

                      D 01665 Taubenheim

                      Legal form: Private limited company

                      Share capital:     EUR             25,600.00

                      Registered

                      on:         07.05.1999

                      Reg. data:  01069 Dresden, HRB 17175

 Manager:

                      Global PVQ Sales GmbH

                      Sonnenallee 17-21 OT Thalheim

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         15.01.2009

                      Reg. data:  20355 Hamburg, HRB 108026

 Liquidator:

                      Briest Holding GmbH

                      D 01665 Klipphausen

                      Legal form: Private limited company in

                                  liquidation

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         04.03.2011

                      Reg. data:  14467 Potsdam, HRB 24024 P

 Liquidator:

                      Briest Verwaltungs GmbH

                      Groitzscher Str. 9 c/o Frank

                      Pollmer

                      D 01665 Triebischtal

                      Legal form: Private limited company in

                                  liquidation

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         10.03.2011

                      Reg. data:  14467 Potsdam, HRB 24038 P

 Liquidator:

                      FIWA I Projektgesellschaft mbH

                      Groitzscher Str. 9 c/o Frank

                      Pollmer

                      D 01665 Triebischtal

                      Legal form: Private limited company in

                                  liquidation

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         05.01.2009

                      Reg. data:  14057 Berlin, HRB 117082 B

 

 

COMPANY HISTORY

 

 06.05.2008 - 20.11.2009  Q-Cells SE

                          Guardianstr. 16

                          D 06766 Thalheim

                          European Company (SE)

 

 20.11.2009 - 21.09.2012  Q-Cells SE

                          Sonnenallee 17-21 OT Thalheim

                          D 06766 Bitterfeld-Wolfen

                          European Company (SE)

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 18.03.2013 - 07.01.2014  Member of the Board of Directors

                          Dr. Ihsan Nedim Cen

                          D 82031 Grünwald

 

 17.10.2011 - 06.03.2013  Member of the Board of Directors

                          Dr. Andreas von Zitzewitz

                          D 83558 Maitenbeth

 

 24.03.2010 - 06.03.2013  President of the Board of Directors

                          Dr. Ihsan Nedim Cen

                          D 82031 Grünwald

 

 15.07.2010 - 23.12.2011  Member of the Board of Directors

                          Dr. Marion Helmes

                          D 10115 Berlin

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

26111   Manufacture of solar cells and modules

27120   Manufacture of electricity distribution and controlequipment

46149   Agents involved in the sale of electrotechnical and electronical products n.e.c.

71122   Engineering activities in the field of technical sectoral planning andengineering design

 

 

BRANCHES AND FACTORIES

 

Branch:

                      Global PVQ SE

                      Linkstr. 12

                      D 10785 Berlin

                      TEL.: 030/8892780

                      FAX.: 030/889278445

 

 

PARTICIPATIONS

 

Shareholder:

                      Global PVQ Vermögensverwaltungs GmbH

                      Guardianstr. 16 OT Thalheim

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  16.12.2013

                                  Local court 39576 Stendal

                                  HRB 20138

 Shareholder:

                      Global PVQ Sales GmbH

                      Sonnenallee 17-21 OT Thalheim

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  15.01.2009

                                  Local court 20355 Hamburg

                                  HRB 108026

 Shareholder:

                      Global PVQ Beteiligungs GmbH

                      Sonnenallee 17-21

                      D 06766 Bitterfeld-Wolfen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  20.05.2008

                                  Local court 39576 Stendal

                                  HRB 7612

 Shareholder:

                      Straßkirchen MQ GmbH

                      Gänsdorf 1

                      D 94342 Straßkirchen

                      Legal form: Private limited company

                      Company Status: in liquidation

                      since:          06.09.2013

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Reg. data:  04.02.2010

                                  Local court 94315 Straubing

                                  HRB 11529

 

 

FINANCIAL INFORMATION

 

Payment experience:     negative information

 

Negative information:    Negative information is known to us.

 

Balance sheet year:       2010

 

Debt collection monitoring:

Amount              last entry:

1                      17.04.2012

EUR                 10,784.97

 

Insolvency Proceedings

 

 Local court                    :       06844 Dessau-Roßlau

 

 Insolvency administrator :       Rüdiger Wienberg

                                                Mozartstr. 3

                                                D 04107 Leipzig

                                                Tel. 0341/9839830

 

 Preliminary insolvency

 adminstrator             :       No

 

 File No                  :       2 IN 121/12

Application  of :       03.04.2012

 

Restraint on alienation

 - passed              on :       03.04.2012

 

 Order of institution  of :       01.07.2012

 Claims to be filed    by :       24.07.2012

 Creditors' meeting

 - Date for pres. of

   report              on :       29.08.2013

 - Date of hearing     on :       29.08.2013

 

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Sonnenallee 17-21

                                    D 06766 Bitterfeld-Wolfen

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

DEUTSCHE KREDITBANK, 06122 HALLE (SAALE)

Sort. code: 12030000

BIC: BYLADEM1001

 

Further bank

DEUTSCHE KREDITBANK BERLIN, 10117 BERLIN

Sort. code: 12030000

BIC: BYLADEM1001

FINANCIAL FIGURES

 

 Equipment:                              EUR         15,438,000.00

 Ac/ts receivable:                       EUR        322,041,600.00

 Liabilities:                            EUR      1,100,412,900.00

 Employees:                                                  1,814

 - thereof permanent staff:                                  1,713

 - Trainees:                                                   101

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 39.14

 Liquidity ratio:                   0.37

 Return on total capital [%]:      -3.79

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 38.13

 Liquidity ratio:                   0.37

 Return on total capital [%]:     -67.93

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 66.42

 Liquidity ratio:                   0.41

 Return on total capital [%]:       1.27

 

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:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR      1,996,250,700.00

  Fixed assets                           EUR      1,088,030,300.00

   Intangible assets                     EUR          9,566,900.00

    Concessions, licences, rights        EUR          9,039,100.00

    Advance payments for intang. assets  EUR            527,800.00

   Tangible assets                       EUR        343,262,200.00

    Land / similar rights                EUR        124,806,100.00

    Plant / machinery                    EUR        177,367,600.00

    Other tangible assets / fixtures and

    fittings                             EUR         15,438,000.00

    Advance payments made / construction

    in progress                          EUR         25,650,500.00

   Financial assets                      EUR        735,201,200.00

    Shares in participations /

    subsidiaries and the like            EUR        593,691,600.00

     Shares in related companies         EUR        532,573,100.00

     Shares in investee companies        EUR         61,118,500.00

    Loans to participations /

    subsidiaries and the like            EUR         58,881,200.00

     Loans to related companies          EUR         58,881,200.00

    Other loans                          EUR         82,628,400.00

  Current assets                         EUR        835,467,500.00

   Stocks                                EUR        288,101,500.00

    Raw materials, consumables and

    supplies                             EUR         60,206,400.00

    Finished goods / work in progress    EUR        156,893,900.00

    Advance payments made                EUR         71,001,200.00

   Accounts receivable                   EUR        322,041,600.00

    Trade debtors                        EUR         79,497,700.00

    Amounts due from related companies   EUR        213,488,300.00

    Amounts due from investee companies  EUR            478,200.00

    Other debtors and assets             EUR         28,577,400.00

   Liquid means                          EUR        225,324,400.00

  Remaining other assets                 EUR         72,752,900.00

   Accruals (assets)                     EUR         72,752,900.00

 

 LIABILITIES                             EUR      1,996,250,700.00

  Shareholders' equity                   EUR        784,208,700.00

   Capital                               EUR        176,343,600.00

    Subscribed capital (share capital)   EUR        176,343,600.00

   Reserves                              EUR        606,252,200.00

    Capital reserves                     EUR        404,784,000.00

    Retained earnings / revenue reserves EUR        201,468,200.00

   Balance sheet profit/loss (+/-)       EUR          1,612,900.00

    Balance sheet profit / loss          EUR          1,612,900.00

  Items between shareholders' equity and

  debt capital                           EUR         27,384,700.00

   Allowances / bonuses                  EUR         27,384,700.00

  Provisions                             EUR         84,244,400.00

   Provisions for taxes                  EUR          5,750,500.00

   Other / unspecified provisions        EUR         78,493,900.00

  Liabilities                            EUR      1,100,412,900.00

   Financial debts                       EUR        144,931,900.00

    Liabilities due to banks             EUR          1,184,900.00

    Loans / obligations / debentures     EUR        143,747,000.00

   Other liabilities                     EUR        955,481,000.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         64,578,400.00

    Liabilities from received advance

    payments                             EUR         74,231,100.00

    Liabililties due to related companiesEUR        811,388,300.00

    Liabilities due to investee companiesEUR          1,890,400.00

    Unspecified other liabilities        EUR          3,392,800.00

     thereof liabilities from tax /

     financial authorities               EUR            789,200.00

     thereof liabilities from social

     security                            EUR                  0.00

  Guarantees and other commitments       EUR      1,031,309,600.00

   Guarantees / warranties               EUR        207,600,000.00

    Guarantees                           EUR        207,600,000.00

   Letters of support                    EUR          6,800,000.00

   Other guarantees and other commitmentsEUR        816,909,600.00

 

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

 Code (HGB)

  Sales                                  EUR      1,127,543,700.00

  Inventory change + own costs (+/-)     EUR         81,352,600.00

   Inventory change (+/-)                EUR         81,268,700.00

   Capitalised own costs                 EUR             83,900.00

  Other operating income                 EUR        127,647,400.00

  Cost of materials                      EUR      1,017,152,000.00

   Raw materials and supplies, purchased

   goods                                 EUR        900,105,400.00

   Purchased services                    EUR        117,046,600.00

  Gross result (+/-)                     EUR        319,391,700.00

  Staff expenses                         EUR         69,464,500.00

   Wages and salaries                    EUR         61,224,500.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          9,698,100.00

   Other staff expenses                  EUR         -1,458,100.00

  Total depreciation                     EUR         67,505,200.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         50,576,600.00

   Depreciation on current assets (+/-)  EUR         16,928,600.00

  Other operating expenses               EUR        208,451,300.00

  Operating result from continuing

  operations                             EUR        -26,029,300.00

  Result from participating interests

  (+/-)                                  EUR         -5,210,700.00

   Expenses for participations           EUR          5,210,700.00

    Expenses for other participations    EUR          5,210,700.00

  Interest result (+/-)                  EUR        -33,829,600.00

   Interest and similar income           EUR         23,547,800.00

    thereof from related companies       EUR         18,271,200.00

   Interest and similar expenses         EUR         57,377,400.00

    thereof paid to related companies    EUR         29,768,000.00

  Other financial result                 EUR         -9,942,800.00

   Income from securities and loans from

   financial assets                      EUR         25,017,700.00

    thereof related companies            EUR            238,400.00

   Depreciation on financial assets and

   marketable securities                 EUR         34,960,500.00

  Financial result (+/-)                 EUR        -48,983,100.00

  Result from ordinary operations (+/-)  EUR        -75,012,400.00

  Extraordinary income                   EUR            274,000.00

  Extraordinary result (+/-)             EUR            274,000.00

  Income tax / refund of income tax (+/-)EUR           -339,600.00

  Other taxes / refund of taxes          EUR           -107,200.00

  Tax (+/-)                              EUR           -446,800.00

  Annual surplus / annual deficit        EUR        -75,185,200.00

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2009 - 31.12.2009

 

 ASSETS                                  EUR      1,822,115,400.00

  Fixed assets                           EUR      1,101,070,800.00

   Intangible assets                     EUR          9,983,200.00

    Concessions, licences, rights        EUR          9,253,200.00

    Advance payments for intang. assets  EUR            730,000.00

   Tangible assets                       EUR        373,315,700.00

    Land / similar rights                EUR        128,084,300.00

    Plant / machinery                    EUR        209,481,400.00

    Other tangible assets / fixtures and

    fittings                             EUR         16,466,500.00

    Advance payments made / construction

    in progress                          EUR         19,283,500.00

   Financial assets                      EUR        717,771,900.00

    Shares in participations /

    subsidiaries and the like            EUR        523,075,900.00

     Shares in related companies         EUR        423,039,800.00

     Shares in investee companies        EUR        100,036,100.00

    Loans to participations /

    subsidiaries and the like            EUR         51,710,000.00

     Loans to related companies          EUR         51,710,000.00

    Other loans                          EUR        142,986,000.00

  Current assets                         EUR        657,509,300.00

   Stocks                                EUR        181,477,100.00

    Raw materials, consumables and

    supplies                             EUR         64,768,000.00

    Finished goods / work in progress    EUR         40,170,000.00

    Advance payments made                EUR         76,539,100.00

   Accounts receivable                   EUR        301,837,200.00

    Trade debtors                        EUR         39,694,100.00

    Amounts due from related companies   EUR        238,558,100.00

    Amounts due from investee companies  EUR            783,600.00

    Other debtors and assets             EUR         22,801,400.00

   Investments in current assets         EUR         26,015,100.00

   Liquid means                          EUR        148,179,900.00

  Remaining other assets                 EUR         63,535,300.00

   Accruals (assets)                     EUR         63,535,300.00

 

 LIABILITIES                             EUR      1,822,115,400.00

  Shareholders' equity                   EUR        697,810,700.00

   Capital                               EUR        117,531,900.00

    Subscribed capital (share capital)   EUR        117,531,900.00

   Reserves                              EUR        580,278,800.00

    Capital reserves                     EUR        304,020,700.00

    Retained earnings / revenue reserves EUR        276,258,100.00

  Items between shareholders' equity and

  debt capital                           EUR         24,410,200.00

   Allowances / bonuses                  EUR         24,410,200.00

  Provisions                             EUR        144,108,800.00

   Provisions for taxes                  EUR          6,623,900.00

   Other / unspecified provisions        EUR        137,484,900.00

  Liabilities                            EUR        955,785,700.00

   Financial debts                       EUR          1,324,300.00

    Liabilities due to banks             EUR          1,324,300.00

   Other liabilities                     EUR        954,461,400.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         62,779,200.00

    Liabilities from received advance

    payments                             EUR         37,341,800.00

    Liabililties due to related companiesEUR        776,240,300.00

    Liabilities due to investee companiesEUR         58,090,200.00

    Unspecified other liabilities        EUR         20,009,900.00

     thereof liabilities from tax /

     financial authorities               EUR          1,068,800.00

     thereof liabilities from social

     security                            EUR             26,000.00

 

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

 Code (HGB)

  Sales                                  EUR        747,830,900.00

  Inventory change + own costs (+/-)     EUR        -29,315,300.00

   Inventory change (+/-)                EUR        -29,635,000.00

   Capitalised own costs                 EUR            319,700.00

  Other operating income                 EUR         56,381,400.00

  Cost of materials                      EUR        653,249,900.00

   Raw materials and supplies, purchased

   goods                                 EUR        631,340,400.00

   Purchased services                    EUR         21,909,500.00

  Gross result (+/-)                     EUR        121,647,100.00

  Staff expenses                         EUR         77,641,500.00

   Wages and salaries                    EUR         66,549,500.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         11,092,000.00

  Total depreciation                     EUR        104,876,300.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR        104,876,300.00

  Other operating expenses               EUR        674,349,900.00

  Other non-operational income / expenses

  of importance (+/-)                    EUR           -656,500.00

  Operating result from continuing

  operations                             EUR       -735,877,100.00

  Result from participating interests

  (+/-)                                  EUR         -4,052,400.00

   Expenses for participations           EUR          4,052,400.00

    Expenses for other participations    EUR          4,052,400.00

  Interest result (+/-)                  EUR        -35,694,500.00

   Interest and similar income           EUR         16,491,700.00

    thereof from related companies       EUR         10,540,100.00

   Interest and similar expenses         EUR         52,186,200.00

    thereof paid to related companies    EUR         18,131,700.00

  Other financial result                 EUR       -456,249,300.00

   Income from securities and loans from

   financial assets                      EUR          3,548,300.00

    thereof related companies            EUR          2,811,200.00

   Depreciation on financial assets and

   marketable securities                 EUR        459,797,600.00

  Financial result (+/-)                 EUR       -495,996,200.00

  Result from ordinary operations (+/-)  EUR     -1,231,873,300.00

  Income tax / refund of income tax (+/-)EUR         -1,913,600.00

  Other taxes / refund of taxes          EUR           -512,400.00

  Tax (+/-)                              EUR         -2,426,000.00

  Annual surplus / annual deficit        EUR     -1,234,299,300.00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.87

UK Pound

1

Rs.97.69

Euro

1

Rs.77.37

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MNL

 

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.