|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRONICON KONDENSATOREN GMBH |
|
|
|
|
Registered Office : |
Keplerstr. 2, D 07549 Gera |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.09.1992 |
|
|
|
|
Com. Reg. No.: |
HRB 202307 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
·
Manufacture
of metal products ·
Manufacture
of electronic components |
|
|
|
|
No. of Employees : |
433 |
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 |
ELECTRONICON KONDENSATOREN GMBH
Company Status: active
Keplerstr. 2
D 07549 Gera
Telephone:0365/7346100
Telefax:
0365/7346110
Homepage: www.electronicon.com
E-mail:
sales@electronicon.com
VAT no.: DE151282182
Tax ID number: 161/108/04532
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 01.09.1992
Shareholders'
agreement: 01.09.1992
Registered on: 11.09.1992
Commercial Register: Local court 07745 Jena
under: HRB
202307
Share
capital: EUR 25,564.59
Shareholder:
SYSTEM ELECTRIC GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Post Box:
11 61, D 63585
Linsengericht
Legal form: Private
limited company
Share capital: EUR 25,564.59
Share: EUR 20,451.67
Registered on: 20.11.1975
Reg. data: 63450 Hanau,
HRB 11141
Shareholder:
ELECTRONICON
Kondensatoren GmbH
Keplerstr. 2
D 07549 Gera
Legal form: Private
limited company
Share capital: EUR 25,564.59
Share: EUR 3,834.69
Registered on: 11.09.1992
Reg. data: 07745 Jena,
HRB 202307
Shareholder:
Klaus Dieter Holbe
Am Herrenberg 11
D 87538 Obermaiselstein
born: 22.02.1939
Share: EUR 1,278.23
Manager:
Klaus Dieter Holbe
Am Herrenberg 11
D 87538 Obermaiselstein
having sole power of
representation
born: 22.02.1939
Profession: Businessman
Marital status: married
Manager:
Walter Bauer
Aga Kiefernstr. 23
D 07554 Gera
authorized to jointly
represent the company
born: 25.03.1954
Proxy:
Günter Bernt
Am Leumnitzer
Bach 8
D 07546 Gera
authorized to jointly
represent the company
born: 07.08.1953
Further
functions/participations of Klaus Dieter Holbe (Manager)
Shareholder:
SYSTEM ELECTRIC GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Post Box:
11 61, D 63585
Linsengericht
Legal form: Private limited
company
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Registered
on: 20.11.1975
Reg. data: 63450 Hanau, HRB 11141
Manager:
SYSTEM ELECTRIC GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Post Box:
11 61, D 63585
Linsengericht
Legal form: Private limited company
Share capital: EUR 25,564.59
Registered
on: 20.11.1975
Reg. data: 63450 Hanau, HRB 11141
Manager:
System Electric Power
Quality GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Post Box:
11 61, D 63585
Linsengericht
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 03.03.2004
Reg. data: 63450 Hanau, HRB 13324
Manager:
SEB Beteiligungs GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Legal form: Private
limited company
Share capital: EUR 120,000.00
Registered
on: 18.01.2012
Reg. data: 63450 Hanau, HRB 93905
Further
functions/participations of Walter Bauer (Manager)
Shareholder:
SEB Beteiligungs GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Legal form: Private
limited company
Share capital: EUR 120,000.00
Share: EUR 30,000.00
Registered
on: 18.01.2012
Reg. data: 63450 Hanau, HRB 93905
Main
industrial sector
25993
Manufacture of metal products n.e.c.
2611
Manufacture of electronic components
4676
Wholesale of other intermediate goods
Works:
ELECTRONICON
Kondensatoren GmbH
Am Steingarten 12
D 07554 Gera
Works:
ELECTRONICON
Kondensatoren GmbH
An der Silbergrube 4-6
D 07551 Gera
Shareholder:
SEB Beteiligungs GmbH
Odenwaldstr. 4
D 63589 Linsengericht
Legal form: Private
limited company
Company Status: active
Share capital: EUR 120,000.00
Share: EUR 22,800.00
Reg. data: 18.01.2012
Local court
63450 Hanau
HRB 93905
Shareholder:
ELECTRONICON
Kondensatoren GmbH
Keplerstr. 2
D 07549 Gera
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 3,834.69
Reg. data: 11.09.1992
Local court
07745 Jena
HRB 202307
Payment experience: takes advantage of cash discount
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: proprietor
Share: 100.00 %
Address Keplerstr. 2
D 07549 Gera
Type of real estate: Commercial building
Size: 13,318.00 sq.m
Type of ownership: proprietor
Share: 100.00 %
Address An der Silbergrube 4-6
D 07551 Gera
Size: 8,889.00 sq.m
Type of ownership: proprietor
Share: 100.00 %
Address Keplerstr. 2a
D 07549 Gera
Type of real estate: Commercial building
Residential floor 5,744.00 sq.m
space/ Usable floor
space:
Land register documents were not available.
COMMERZBANK, 07504 GERA
Sort. code: 83040000, Account no.: 206262800
BIC: COBADEFF830, IBAN: DE26830400000206262800
DEUTSCHE BANK, 07502 GERA
Sort. code: 82070000, Account no.: 314844200
BIC: DEUTDE8EXXX, IBAN: DE59820700000314844200
UNICREDIT BANK - HYPOVEREINSBANK, 07502 GERA
Sort. code: 83020086, Account no.: 4356993
BIC: HYVEDEMM468, IBAN: DE25830200860004356993
Turnover: 2012 EUR 50,611,631.00
2013 EUR 58,000,000.00
Profit: 2012 EUR 3,590,152.00
further business figures:
Equipment: EUR 2,417,708.00
Ac/ts receivable: EUR 8,985,166.00
Liabilities: EUR
4,682,665.00
Total numbers of vehicles: 5
Employees:
433
- thereof permanent staff: 415
- Trainees:
18
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 78.37
Liquidity ratio: 10.00
Return on total capital [%]: 10.20
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 73.37
Liquidity ratio: 10.00
Return on total capital [%]: 17.16
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 73.48
Liquidity ratio: 10.00
Return on total capital [%]: 16.40
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 80.74
Liquidity ratio: 10.00
Return on total capital [%]: 12.20
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 35,202,300.09
Fixed assets
EUR 12,275,502.43
Intangible assets
EUR 146,218.62
Concessions, licences, rights
EUR 146,218.62
Tangible assets
EUR 12,106,483.81
Land / similar rights
EUR 1,369,792.89
Plant / machinery EUR 8,147,252.94
Other tangible assets / fixtures and
fittings
EUR 2,417,707.89
Advance payments made / construction
in progress
EUR 171,730.09
Financial assets
EUR 22,800.00
Shares in participations /
subsidiaries and the like
EUR 22,800.00
Shares in investee companies
EUR 22,800.00
Current assets EUR 22,881,894.60
Stocks
EUR 9,153,189.29
Raw materials, consumables and
supplies
EUR 3,579,579.69
Finished goods / work in progress
EUR 5,563,381.86
Advance payments made
EUR 10,227.74
Accounts receivable
EUR 8,985,165.58
Trade debtors
EUR 6,828,375.77
Other debtors and assets EUR
2,156,789.81
Liquid means
EUR 4,743,539.73
Remaining other assets
EUR 44,903.06
Accruals (assets)
EUR 44,903.06
thereof disagio EUR 32,000.00
LIABILITIES EUR 35,202,300.09
Shareholders' equity
EUR 26,881,532.34
Capital
EUR 21,729.90
Subscribed capital (share capital)
EUR 25,564.59
Other capital
EUR -3,834.69
Reserves
EUR 11,746,319.65
Capital reserves
EUR 11,746,319.65
Balance sheet profit/loss (+/-) EUR 15,113,482.79
Profit / loss brought forward
EUR 11,523,331.05
Annual surplus / annual deficit
EUR 3,590,151.74
Items between shareholders' equity and
debt capital EUR 1,293,677.40
Allowances / bonuses
EUR 1,293,677.40
Provisions
EUR 2,344,425.48
Other / unspecified provisions
EUR 2,344,425.48
Liabilities EUR 4,682,664.87
Financial debts
EUR 1,625,000.00
Liabilities due to banks
EUR 1,625,000.00
Other liabilities
EUR 3,057,664.87
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,714,875.25
Liabilities from received advance
payments
EUR 55,936.26
Liabilities due to shareholders
EUR 58,310.00
Unspecified other liabilities
EUR 1,228,543.36
thereof liabilities from tax /
financial authorities
EUR 319,089.01
thereof liabilities from social
security EUR 5,264.18
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm. Code (HGB)
Sales EUR 50,611,630.60
Inventory change + own costs (+/-)
EUR -431,499.08
Inventory change (+/-)
EUR -435,850.21
Capitalised own costs
EUR 4,351.13
Other operating income
EUR 914,686.69
Cost of materials
EUR 24,154,645.70
Raw materials and supplies, purchased
goods
EUR 22,767,313.88
Purchased services
EUR 1,387,331.82
Gross result (+/-)
EUR 26,940,172.51
Staff expenses
EUR 14,530,516.07
Wages and salaries
EUR 12,025,538.33
Social security contributions and
expenses for pension plans and
benefits
EUR 2,504,977.74
Total depreciation
EUR 1,820,931.47
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,820,931.47
Other operating expenses
EUR 5,440,629.70
Operating result from continuing
operations
EUR 5,148,095.27
Interest result (+/-)
EUR 22,604.10
Interest and similar income
EUR 69,795.58
Interest and similar expenses
EUR 47,191.48
Financial result (+/-)
EUR 22,604.10
Result from ordinary operations (+/-)
EUR 5,170,699.37
Income tax / refund of income tax (+/-)EUR -1,557,135.40
Other taxes / refund of taxes
EUR -23,412.23
Tax (+/-)
EUR -1,580,547.63
Annual surplus / annual deficit
EUR 3,590,151.74
Type of balance sheet: Company balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 36,754,929.36
Fixed assets
EUR 12,329,957.15
Intangible assets EUR 198,136.16
Concessions, licences, rights
EUR 198,136.16
Tangible assets
EUR 12,109,020.99
Land / similar rights
EUR 1,550,782.24
Plant / machinery
EUR 8,099,530.06
Other tangible assets / fixtures and
fittings
EUR 1,611,704.30
Advance payments made / construction
in progress
EUR 847,004.39
Financial assets
EUR 22,800.00
Shares in participations /
subsidiaries and the like
EUR 22,800.00
Shares in investee companies
EUR 22,800.00
Current assets
EUR 24,370,960.00
Stocks
EUR 9,011,795.40
Raw materials, consumables and
supplies
EUR 2,990,497.20
Finished goods / work in progress
EUR 6,005,330.45
Advance payments made
EUR 15,967.75
Accounts receivable
EUR 8,119,228.06
Trade debtors
EUR 6,642,347.55
Other debtors and assets
EUR 1,476,880.51
Investments in current assets
EUR 2,000,000.00
Other investments
EUR 2,000,000.00
Liquid means
EUR 5,239,936.54
Remaining other assets
EUR 54,012.21
Accruals (assets)
EUR 54,012.21
LIABILITIES EUR 36,754,929.36
Shareholders' equity
EUR 26,491,380.60
Capital
EUR 21,729.90
Subscribed capital (share capital)
EUR 25,564.59
Other capital
EUR -3,834.69
Reserves
EUR 11,746,319.65
Capital reserves
EUR 11,746,319.65
Balance sheet profit/loss (+/-)
EUR 14,723,331.05
Profit / loss brought forward
EUR 8,416,441.35
Annual surplus / annual deficit EUR
6,306,889.70
Items between shareholders' equity and
debt capital
EUR 838,129.22
Allowances / bonuses
EUR 838,129.22
Provisions
EUR 4,689,627.11
Provisions for taxes
EUR 297,067.11
Other / unspecified provisions
EUR 4,392,560.00
Liabilities
EUR 4,735,792.43
Financial debts
EUR 1,875,000.00
Liabilities due to banks
EUR 1,875,000.00
Other liabilities
EUR 2,860,792.43
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,459,525.60
Liabilities from received advance
payments
EUR 5,277.89
Liabilities due to shareholders
EUR 56,525.00
Unspecified other liabilities
EUR 1,339,463.94
thereof liabilities from tax /
financial authorities
EUR 312,747.22
thereof liabilities from social
security
EUR 31,950.19
Guarantees and other commitments
EUR 230,000.00
Guarantees / warranties
EUR 230,000.00
Guarantees
EUR 230,000.00
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales EUR 58,921,889.27
Inventory change + own costs (+/-)
EUR 2,068,527.34
Inventory change (+/-)
EUR 2,061,570.86
Capitalised own costs
EUR 6,956.48
Other operating income
EUR 757,500.42
Cost of materials
EUR 28,928,236.90
Raw materials and supplies, purchased
goods
EUR 26,114,695.76
Purchased services EUR 2,813,541.14
Gross result (+/-)
EUR 32,819,680.13
Staff expenses
EUR 16,423,224.60
Wages and salaries
EUR 13,605,090.42
Social security contributions and
expenses for pension plans and
benefits
EUR 2,818,134.18
Total depreciation
EUR 1,799,491.80
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,799,491.80
Other operating expenses
EUR 5,547,997.42
Operating result from continuing
operations
EUR 9,048,966.31
Interest result (+/-)
EUR 8,823.60
Interest and similar income
EUR 60,513.46
Interest and similar expenses
EUR 51,689.86
Financial result (+/-)
EUR 8,823.60
Result from ordinary operations (+/-)
EUR 9,057,789.91
Income tax / refund of income tax (+/-)EUR -2,727,876.98
Other taxes / refund of taxes
EUR -23,023.23
Tax (+/-)
EUR -2,750,900.21
Annual surplus / annual deficit
EUR 6,306,889.70
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.