|
Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADOLF THIES GMBH & CO. KG |
|
|
|
|
Registered Office : |
Hauptstr. 76, D 37083 Göttingen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1967 |
|
|
|
|
Legal Form : |
Limited Partnership With Private
Limited Company As General
Partner |
|
|
|
|
Line of Business : |
Manufacture of Instruments and
Appliances for Measuring, Testing and Navigation |
|
|
|
|
No of Employees : |
93 |
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 |
ADOLF THIES GMBH & CO. KG
Company Status: active
Hauptstr. 76
D 37083 Göttingen
Telephone:0551/790010
Telefax:
0551/7900165
Homepage: www.thiesclima.com
E-mail: info@thiesclima.com
VAT
no.: DE115311033
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 01.01.1967
Registered
on: 23.03.1967
Register of
companies: Local court 37073 Göttingen
under: HRA
2488
Total cap. contribution: EUR 996,200.00
Limited partner:
Klaus Thies
Meininger Weg 73
D 37085 Göttingen
born: 25.03.1945
Share: EUR 427,000.00
Limited partner:
Wolfgang Behrens
An der Rase 4
D 37124 Rosdorf
born: 20.08.1950
Share: EUR 252,800.00
Limited partner:
Thomas Stadie
Bergstr. 4
D 37127 Dransfeld
born: 28.11.1960
Share: EUR 158,200.00
Limited partner:
Rainer Wittmers
Adenauerstr. 18
D 59457 Werl
born: 12.09.1956
Share: EUR 158,200.00
General partner:
Thies Verwaltungs- und
Beteiligungsgesellschaft
mit beschränkter
Haftung
Hauptstr. 76
D 37083 Göttingen
Legal form: Private
limited company
Share capital: EUR 26,550.00
Registered on: 19.12.1973
Reg. data: 37073
Göttingen, HRB 721
Shareholder:
Klaus Thies
Meininger Weg 73
D 37085 Göttingen
born: 25.03.1945
Share: EUR 11,300.00
Shareholder:
Wolfgang Behrens
An der Rase 4
D 37124 Rosdorf
born: 20.08.1950
Share: EUR 6,750.00
Shareholder:
Thomas Stadie
Bergstr. 4
D 37127 Dransfeld
born: 28.11.1960
Share: EUR 4,250.00
Shareholder:
Rainer Wittmers
Adenauerstr. 18
D 59457 Werl
born: 12.09.1956
Share: EUR 4,250.00
Manager:
Wolfgang Behrens
An der Rase 4
D 37124 Rosdorf
having sole power of
representation
born: 20.08.1950
Profession: Businessman
Marital status: married
Proxy:
Thomas Stadie
Bergstr. 4
D 37127 Dransfeld
having sole power of
representation
born: 28.11.1960
Profession: graduate engineer
Proxy:
Rainer Wittmers
Adenauerstr. 18
D 59457 Werl
having sole power of
representation
born: 12.09.1956
Profession: graduate engineer
Further functions/participations of Thies
Verwaltungs- und
Beteiligungsgesellschaft mit beschränkter
Haftung (General
partner)
General partner:
Thies
Vermögensverwaltungs GmbH & Co. KG
Hauptstr. 76
D 37083 Göttingen
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 99,620.00
contribution:
Registered
on: 07.10.2008
Reg. data: 37073 Göttingen, HRA 200296
General partner:
Thies Grundstücksverwaltungsgesellschaft
Geismar GmbH & Co. KG
Hauptstr. 76
D 37083 Göttingen
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 99,620.00
contribution:
Registered
on: 07.02.2013
Reg. data: 37073 Göttingen, HRA 201215
General partner:
SFE Sensor Forschungs-
und Entwicklungs GmbH
& Co.KG
Hauptstr. 76
D 37083 Göttingen
Legal form: Ltd
partnership with priv. ltd.
company as
general partner in
liquidation
Total cap. EUR 100,000.00
contribution:
Registered
on: 26.01.2007
Reg. data: 37073 Göttingen, HRA 200097
Main industrial sector
26512
Manufacture of instruments and appliances for measuring, testing and
navigation
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Hauptstr. 76
D 37083 Göttingen
Type of ownership: proprietor
Share:
100.00 %
Address Hauptstr. 78a
D 37083 Göttingen
Real Estate of: Thies Verwaltungs- und
Beteiligungsgesellschaft
mit beschränkter
Haftung
Type of ownership: Tenant
Address Hauptstr. 76
D 37083 Göttingen
Land register documents were not available.
Principal bank
SPARKASSE GÖTTINGEN, 37070 GÖTTINGEN,
NIEDERSACHS
Sort. code: 26050001
BIC: NOLADE21GOE
Further
banks
COMMERZBANK, 37005 GÖTTINGEN, NIEDERSACHS
Sort. code: 26040030
BIC: COBADEFFXXX
DEUTSCHE BANK, 37073 GÖTTINGEN, NIEDERSACHS
Sort. code: 26070072
BIC: DEUTDE2H260
Gross profit or loss: 2012 EUR
18,263,632.00
2013
EUR 19,300,000.00
Profit: 2012 EUR 4,835,149.00
further business figures:
Equipment: EUR 450,567.00
Ac/ts receivable: EUR
2,546,182.00
Liabilities: EUR 9,934,525.00
Total numbers of vehicles:
5
-
Passenger cars: 5
Employees:
93
-
thereof permanent staff:
93
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 63.30
Liquidity ratio: 10.00
Return on total capital [%]: 31.53
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 56.44
Liquidity
ratio: 10.00
Return on total capital [%]: 34.90
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 56.91
Liquidity ratio: 10.00
Return on total capital [%]: 40.29
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 15,336,807.41
Fixed assets
EUR 3,642,485.00
Intangible assets
EUR 16,281.00
Concessions, licences, rights
EUR 16,281.00
Tangible assets
EUR 3,615,004.00
Land / similar rights
EUR 2,465,651.00
Plant / machinery
EUR 688,826.00
Other tangible assets / fixtures and
fittings
EUR 450,567.00
Advance payments made / construction
in progress
EUR 9,960.00
Financial assets
EUR 11,200.00
Shares in participations /
subsidiaries and the like
EUR 11,200.00
Shares in cooperatives
EUR 11,200.00
Current assets
EUR 11,671,852.85
Stocks EUR 2,083,775.00
Raw materials, consumables and
supplies
EUR 805,399.00
Finished goods / work in progress
EUR 1,278,376.00
Accounts receivable EUR 2,546,182.49
Trade debtors
EUR 2,177,208.11
Other debtors and assets
EUR 368,974.38
Liquid means
EUR 7,041,895.36
Remaining
other assets EUR 22,469.56
Accruals (assets)
EUR 22,469.56
LIABILITIES EUR 15,336,807.41
Shareholders' equity
EUR 1,144,375.41
Capital
EUR 1,144,375.41
Capital of the fully liable partner
(LP, general partnership)
EUR 148,175.41
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 148,175.41
Limited partner's capital / capital
of partially liable partner (LP)
EUR 996,200.00
Provisions
EUR 4,229,917.00
Other / unspecified provisions
EUR 4,229,917.00
Liabilities
EUR 9,934,525.00
Other liabilities
EUR 9,934,525.00
Trade creditors (for IAS incl. bills
of exchange) EUR 849,000.28
Liabilities from received advance
payments
EUR 119,440.64
Liabilities due to shareholders
EUR 8,563,703.23
Liabilities due to affiliated
companies / persons / organs
EUR 54,622.07
Unspecified other liabilities
EUR 347,758.78
Other liabilities
EUR 27,990.00
Deferred taxes (not included under
provisions/liabilities)
EUR 27,990.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 18,263,631.89
Staff expenses
EUR 8,667,731.54
Wages and salaries
EUR 7,763,897.02
Social security contributions and
expenses for pension plans and
benefits
EUR 903,834.52
Total depreciation
EUR 369,725.40
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 369,725.40
Other operating expenses
EUR 2,770,229.84
Operating result from continuing
operations
EUR 6,455,945.11
Interest result (+/-)
EUR -126,807.00
Interest and similar income
EUR 39,833.11
Interest and similar expenses
EUR 166,640.11
Financial result (+/-)
EUR -126,807.00
Result from ordinary operations (+/-)
EUR 6,329,138.11
Income tax / refund of income tax (+/-)EUR -1,489,226.00
Other taxes / refund of taxes EUR -4,762.86
Tax
(+/-)
EUR -1,493,988.86
Annual surplus / annual deficit
EUR 4,835,149.25
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 13,983,316.64
Fixed assets
EUR 3,723,377.34
Intangible assets
EUR 17,855.00
Concessions, licences, rights
EUR 17,855.00
Tangible assets
EUR 3,694,322.34
Land / similar rights
EUR 2,564,303.00
Plant / machinery
EUR 665,152.00
Other tangible assets / fixtures and
fittings
EUR 419,874.00
Advance payments made / construction
in progress
EUR 44,993.34
Financial assets
EUR 11,200.00
Shares in participations /
subsidiaries and the like
EUR 11,200.00
Shares in cooperatives
EUR 11,200.00
Current assets
EUR 10,251,325.79
Stocks EUR 2,005,392.00
Raw materials, consumables and
supplies
EUR 835,579.00
Finished goods / work in progress
EUR 1,169,813.00
Accounts receivable EUR 3,146,507.23
Trade debtors
EUR 2,921,004.39
Other debtors and assets
EUR 225,502.84
Liquid means
EUR 5,099,426.56
Remaining other assets
EUR 8,613.51
Accruals (assets)
EUR 8,613.51
LIABILITIES EUR 13,983,316.64
Shareholders' equity
EUR 1,128,437.64
Capital
EUR 1,128,437.64
Capital of the fully liable partner
(LP, general partnership)
EUR 132,237.64
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 132,237.64
Limited partner's capital / capital
of partially liable partner (LP)
EUR 996,200.00
Provisions
EUR 4,659,835.00
Other / unspecified provisions
EUR 4,659,835.00
Liabilities
EUR 8,165,804.00
Other liabilities
EUR 8,165,804.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 809,971.73
Liabilities from received advance
payments
EUR 152,354.04
Liabilities due to shareholders
EUR 6,764,333.66
Liabilities due to affiliated
companies / persons / organs
EUR 136,542.03
Unspecified other liabilities
EUR 302,602.54
Other liabilities
EUR 29,240.00
Deferred taxes (not included under
provisions/liabilities)
EUR 29,240.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 19,161,447.63
Staff expenses
EUR 8,812,802.82
Wages and salaries
EUR 7,915,286.74
Social security contributions and
expenses for pension plans and
benefits
EUR 897,516.08
Total depreciation
EUR 330,031.86
Depreciation
on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 330,031.86
Other operating expenses
EUR 3,551,864.42
Operating result from continuing
operations
EUR 6,466,748.53
Interest result (+/-)
EUR -87,509.87
Interest and similar income
EUR 52,106.09
Interest and similar expenses
EUR 139,615.96
Financial result (+/-)
EUR -87,509.87
Result from ordinary operations (+/-)
EUR 6,379,238.66
Income tax / refund of income tax (+/-)EUR -1,495,252.80
Other taxes / refund of taxes
EUR -3,146.41
Tax
(+/-)
EUR -1,498,399.21
Annual surplus / annual deficit
EUR 4,880,839.45
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.47 |
|
|
1 |
Rs.98.23 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.