|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HUDE GMBH |
|
|
|
|
Registered Office : |
Gewerbestr. Süd 55, D 41812 Erkelenz |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.02.1981 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture of computers and peripheral
equipment ·
Manufacture of instruments and
appliances for measuring, testing and avigation ·
Manufacture of other general-purpose
machinery ·
Electrical installation |
|
|
|
|
No of Employees : |
51 |
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 |
HUDE GMBH
Company Status: active
Gewerbestr. Süd 55
D 41812 Erkelenz
Telephone: 02431/9680-0
Telefax: 02431/9680-10
Homepage: www.hude.com
E-mail: info@hude.com
VAT no.: DE122386952
Tax ID number: 208/5708/0068
Business relations are
permissible.
LEGAL FORM Private
limited company
Date of foundation: 01.02.1981
Registered on: 05.09.1985
Commercial Register: Local court 41061 Mönchengladbach
under: HRB
8420
Share capital: EUR 1,000,000.00
Shareholder:
Küttner Holding GmbH & Co. KG
Alfredstr. 28
D
45130 Essen
Legal
form: Ltd partnership with priv. ltd.
company as general partner
Total
cap. EUR 103,000.00
contribution:
Share: EUR 510,000.00
Registered on: 29.01.2013
Reg.
data: 45130 Essen, HRA 9924
Shareholder:
Reinhold Josef Wahlers
Kraneburgstr.
27a
D
46240 Bottrop
born:
30.07.1954
Share: EUR 290,000.00
Shareholder:
Boris
Schlüsener
Ziegeleiweg 34
D 40591 Düsseldorf
born:
11.12.1970
Share: EUR 150,000.00
Shareholder:
Thomas
Bodo Streich
Hein-Minkenberg-Str. 20
D 41179 Mönchengladbach
born:
25.12.1957
Share: EUR 50,000.00
Manager:
Reinhold Josef Wahlers
Kraneburgstr. 27a
D 46240 Bottrop
having
sole power of representation
born:
30.07.1954
Profession: graduate engineer
Manager:
Boris
Schlüsener
Ziegeleiweg 34
D 40591 Düsseldorf
born:
11.12.1970
Profession: Businessman
Proxy:
Klaus
Funke
D
46519 Alpen
authorized to jointly represent the company
born:
20.08.1963
Proxy:
Thomas
Bodo Streich
Hein-Minkenberg-Str. 20
D
41179 Mönchengladbach
authorized to jointly represent the company
born:
25.12.1957
Further
functions/participations of Reinhold Josef Wahlers
(Manager)
Shareholder:
Dechow
& Wahlers Verwaltungs-GmbH
Gewerbestr. Süd 55
D
41812 Erkelenz
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Share: EUR 11,250.00
Registered
on: 25.02.2009
Reg.
data: 41061 Mönchengladbach, HRB 13076
Further
functions/participations of Boris Schlüsener (Manager)
General partner:
Martin
Tkaczik und Boris Schlüsener
Am Eickholtshof
1a
D
46236 Bottrop
Legal
form: Partnership under the Civil Code
General partner:
GW
Systemtechnik KG
Am
Eickholtshof 1a
D
46236 Bottrop
Legal
form: Limited partnership
Total
cap. EUR 2,000,000.00
contribution:
Registered
on: 11.02.2005
Reg. data:
45879 Gelsenkirchen, HRA 3742
Limited partner:
GW
Systemtechnik KG
Am
Eickholtshof 1a
D
46236 Bottrop
Legal
form: Limited partnership
Total cap. EUR 2,000,000.00
contribution:
Share: EUR 900,000.00
Registered
on: 11.02.2005
Reg. data:
45879 Gelsenkirchen, HRA 3742
Limited partner:
Dechow
& Wahlers u.a. GmbH & Co. KG
Gewerbestr. Süd 55
D
41812 Erkelenz
Legal
form: Ltd partnership with priv. ltd.
company as general partner
Total
cap. EUR 5,500.00
contribution:
Share: EUR 500.00
Registered
on: 03.08.2010
Reg.
data: 41061 Mönchengladbach, HRA 6648
Shareholder:
Dechow
& Wahlers Verwaltungs-GmbH
Gewerbestr. Süd 55
D 41812 Erkelenz
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Share: EUR 1,250.00
Registered
on: 25.02.2009
Reg.
data: 41061 Mönchengladbach, HRB 13076
05.09.1985 -
11.06.2008 HuDe - Datenmesstechnik GmbH
Gewerbestr. Süd 55
D
41812 Erkelenz
Private limited company
11.06.2008 -
28.06.2010 HuDe-Mess- &
Anlagentechnik GmbH (bis
28.06.2010)
Gewerbestr. Süd 55
D
41812 Erkelenz
Private limited company
Main industrial sector
26200 Manufacture of
computers and peripheral equipment
26512 Manufacture of
instruments and appliances for measuring,
testing and navigation
2829 Manufacture of other
general-purpose machinery n.e.c.
43210 Electrical
installation
Shareholder:
M + O
Systems GmbH
Wellesweg 22
D
47589 Uedem
Legal form:
Private limited company
Company Status: active
Share
capital: EUR 50,000.00
Share: EUR 35,000.00
Reg.
data: 21.03.2007
Local court
47533 Kleve
HRB 8565
Payment experience: within agreed terms
Negative information:We
have no negative information at hand.
Type of ownership: proprietor
Share: 100.00 %
Address Gewerbestr. Süd 55
D
41812 Erkelenz
Real Estate of: Küttner Holding GmbH & Co. KG
Type of ownership: Tenant
Address Alfredstr. 28
D 45130
Essen
Land register documents
were not available.
Principal bank
COMMERZBANK VORMALS
DRESDNER BANK, 41802 ERKELENZ
Sort. code: 31080015,
Account no.: 9272008
BIC: DRESDEFF310
Further bank
KREISSPARKASSE HEINSBERG IN
ERKELENZ, 41806 ERKELENZ
Sort. code: 31251220,
Account no.: 1401875982
BIC: WELADED1ERK
Turnover: 2012 EUR 24,123,921.00
2013 EUR 23,500,000.00
Profit:
2012 EUR 1,722,066.00
further business figures:
Equipment: EUR 258,319.00
Ac/ts receivable: EUR 8,995,821.00
Liabilities: EUR
7,405,851.00
Employees:
51
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 28.11
Liquidity ratio: 1.37
Return on total capital [%]: 9.29
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 24.66
Liquidity ratio: 1.21
Return on total capital [%]: 6.35
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 18.06
Liquidity ratio: 2.10
Return on total capital [%]: 8.68
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 32.72
Liquidity ratio: 10.00
Return
on total capital [%]: 7.30
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 18,543,062.17
Fixed assets
EUR 609,463.35
Intangible assets
EUR 14,254.00
Concessions, licences, rights
EUR 14,254.00
Tangible assets
EUR 460,734.50
Land / similar rights
EUR 202,408.50
Plant / machinery
EUR 7.00
Other tangible assets / fixtures and
fittings
EUR 258,319.00
Financial assets
EUR 134,474.85
Shares in participations /
subsidiaries and the like
EUR 25,649.85
Shares in investee companies
EUR 25,649.85
Loans to participations /
subsidiaries and the like
EUR 108,825.00
Loans to related companies
EUR 108,825.00
Current assets
EUR 17,916,412.00
Stocks
EUR 8,426,703.83
Finished goods / work in progress
EUR 14,737,301.79
Advance payments made EUR 1,791,553.79
Minus received advance payments for
orders / installments for stocks
EUR -8,102,151.75
Accounts receivable
EUR 8,995,820.58
Trade debtors
EUR 8,840,527.04
Other debtors and assets
EUR 155,293.54
Liquid means
EUR 493,887.59
Remaining other assets
EUR 17,186.82
Accruals (assets)
EUR 17,186.82
LIABILITIES EUR 18,543,062.17
Shareholders' equity
EUR 4,885,960.04
Capital
EUR 1,000,000.00
Subscribed capital (share capital)
EUR 1,000,000.00
Balance sheet profit/loss (+/-)
EUR 3,885,960.04
Balance sheet profit / loss
EUR 3,885,960.04
Provisions
EUR 6,248,417.49
Pension provisions and comparable
provisions
EUR 284,392.16
Provisions for taxes
EUR 394,991.75
Other / unspecified provisions
EUR 5,569,033.58
Liabilities EUR 7,405,851.31
Financial debts
EUR 3,988,476.17
Liabilities due to banks
EUR 3,988,476.17
Other liabilities
EUR 3,417,375.14
Trade creditors (for IAS incl. bills
of exchange)
EUR 2,432,093.04
Liabilities due to shareholders
EUR 326,784.98
Liabililties due to related companiesEUR 96,711.14
Unspecified other liabilities EUR 561,785.98
thereof liabilities from tax /
financial authorities
EUR 556,445.67
Other liabilities
EUR 2,833.33
Deferrals (liabilities)
EUR 2,833.33
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 24,123,921.17
Inventory change + own costs (+/-)
EUR 4,253,456.77
Inventory change (+/-) EUR 4,253,456.77
Other operating income
EUR 412,304.78
Cost of materials
EUR 20,998,529.13
Raw materials and supplies, purchased
goods
EUR 20,924,142.55
Purchased services
EUR 74,386.58
Gross result (+/-)
EUR 7,791,153.59
Staff expenses
EUR 2,896,528.11
Wages and salaries EUR 2,513,252.77
Social security contributions and
expenses for pension plans and
benefits
EUR 383,275.34
Total depreciation
EUR 110,559.23
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 110,559.23
Other operating expenses
EUR 2,112,593.85
Operating result from continuing
operations EUR 2,671,472.40
Interest result (+/-)
EUR -156,505.35
Interest and similar income
EUR 12,622.87
Interest and similar expenses
EUR 169,128.22
Financial result (+/-)
EUR -156,505.35
Result from ordinary operations (+/-)
EUR 2,514,967.05
Income tax / refund of income tax (+/-)EUR -788,948.83
Other taxes / refund of taxes
EUR -3,952.00
Tax
(+/-)
EUR -792,900.83
Annual surplus / annual deficit
EUR 1,722,066.22
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 15,121,082.15
Fixed assets
EUR 454,115.75
Intangible assets
EUR 20,543.00
Concessions, licences, rights
EUR 20,543.00
Tangible assets
EUR 428,453.50
Land / similar rights
EUR 200,453.50
Plant / machinery
EUR 373.00
Other tangible assets / fixtures and
fittings EUR 227,627.00
Financial assets
EUR 5,119.25
Shares in participations /
subsidiaries and the like
EUR 5,119.25
Shares in investee companies
EUR 5,119.25
Current assets
EUR 14,618,657.26
Stocks
EUR 3,339,227.98
Accounts receivable
EUR 9,668,333.38
Liquid means EUR 1,611,095.90
Remaining other assets
EUR 48,309.14
Accruals (assets)
EUR 33,798.13
Deferred taxes (assets)
EUR 14,511.01
LIABILITIES EUR 15,121,082.15
Shareholders' equity
EUR 3,363,893.82
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Reserves
EUR 500,000.00
Retained earnings / revenue reserves EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 2,363,893.82
Balance sheet profit / loss
EUR 2,363,893.82
Provisions
EUR 1,774,815.22
Liabilities
EUR 9,974,336.44
Financial debts
EUR 4,823,023.96
Liabilities due to banks EUR 4,823,023.96
Other liabilities
EUR 5,151,312.48
Trade creditors (for IAS incl. bills
of exchange)
EUR 4,616,972.63
Liabilities due to shareholders
EUR 361,836.09
Liabililties due to related companiesEUR 135,928.98
Unspecified other liabilities
EUR 36,574.78
thereof liabilities from tax /
financial authorities
EUR 33,629.98
thereof liabilities from social
security
EUR 2,944.80
Other liabilities
EUR 8,036.67
Deferrals (liabilities)
EUR 8,036.67
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 7,159,585.28
Staff expenses
EUR 3,046,225.96
Wages and salaries
EUR 2,626,324.21
Social security contributions and
expenses for pension plans and
benefits
EUR 419,901.75
Total depreciation
EUR 124,681.17
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 124,681.17
Other operating expenses
EUR 2,556,572.02
Operating result from continuing
operations
EUR 1,432,106.13
Interest result (+/-)
EUR -56,952.80
Interest and similar income
EUR 27,544.69
Interest and similar expenses
EUR 84,497.49
Financial result (+/-) EUR -56,952.80
Result from ordinary operations (+/-)
EUR 1,375,153.33
Income tax / refund of income tax (+/-)EUR -412,997.90
Other taxes / refund of taxes
EUR -3,544.00
Tax
(+/-) EUR -416,541.90
Annual surplus / annual deficit
EUR 958,611.43
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.