MIRA INFORM REPORT

 

 

Report No. :

304978.2

Report Date :

09.04.2015

 

IDENTIFICATION DETAILS

 

Name :

FLEXLIFT HUBGERÄTE GMBH

 

 

Registered Office :

Eckendorfer Str. 115, D 33609 Bielefeld

 

 

Country :

Germany

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.05.1981

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of Other General-Purpose Machinery.

 

 

No. of Employee :

68

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 & address

 

FLEXLIFT HUBGERÄTE GMBH

 

 Company Status:      active

                      Eckendorfer Str. 115

                      D 33609 Bielefeld

                      Telephone:0521/7806-0

                      Telefax:  0521/7806-110

                      Homepage: www.flexlift.de

                      E-mail:   verkauf@felxlift.de

 

 

VAT no.            

 

DE124004933

 

 

CONCLUSION

 

Business relations are permissible.

 

 

COMPANY Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      15.05.1981

 Shareholders'

 agreement:                   15.05.1981

 Registered on:              24.07.1981

 Commercial Register:   Local court 33602 Bielefeld

 under:                          HRB 31583

 

 

Share capital                        

 

EUR             26,000.00

 

Shareholder:

                      Carsten Heide

                      Moorbachtal 23

                      D 33739 Bielefeld

                      born: 16.06.1961

                      Share:             EUR             18,200.00

 Shareholder:

                      Ulrike Heide

                      Kammerratsheide 45

                      D 33609 Bielefeld

                      born: 24.02.1937

                      née: Glackemeier

                      Share:             EUR              5,200.00

 Shareholder:

                      Christoph Andreas Mohr

                      D 33602 Bielefeld

                      born: 26.04.1956

                      Share:             EUR              2,600.00

 Manager:

                      Carsten Heide

                      Moorbachtal 23

                      D 33739 Bielefeld

                      having sole power of representation

                      born: 16.06.1961

 Proxy:

                      Waldemar Penner

                      D 33609 Bielefeld

                      having sole power of representation

                      born: 08.09.1965

 

 Further functions/participations of Carsten Heide (Manager)

 Limited partner:

                      ACR Immobilien GmbH & Co. KG

                      Moorbachtal 23

                      D 33739 Bielefeld

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR              1,000.00

                      contribution:

                      Share:             EUR              1,000.00

                      Registered

                      on:         16.12.2008

                      Reg. data:  33602 Bielefeld, HRA 15376

 Shareholder:

                      ACR Verwaltungs GmbH

                      Moorbachtal 23

                      D 33739 Bielefeld

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         12.12.2008

                      Reg. data:  33602 Bielefeld, HRB 39426

 Shareholder:

                      Flexlift Beteiligungs GmbH

                      Eckendorfer Str. 115

                      D 33609 Bielefeld

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Registered

                      on:         15.04.2013

                      Reg. data:  33602 Bielefeld, HRB 41035

 Manager:

                      ACR Verwaltungs GmbH

                      Moorbachtal 23

                      D 33739 Bielefeld

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         12.12.2008

                      Reg. data:  33602 Bielefeld, HRB 39426

 Manager:

                      Flexlift Beteiligungs GmbH

                      Eckendorfer Str. 115

                      D 33609 Bielefeld

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         15.04.2013

                      Reg. data:  33602 Bielefeld, HRB 41035

 

 

COMPANY HISTORY

 

21.11.2005 - 13.04.2007  Flexlift Hubgeräte GmbH

                          Eckendorfer Str. 115

                          D 33609 Bielefeld

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

29.08.1994 - 05.11.2013  Manager

                          Werner Heidenreich

                          D 33719 Bielefeld

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 28290   Manufacture of other general-purpose machinery

 

Secondary industrial sector

28910   Manufacture of machinery for metallurgy

4669    Wholesale of other machinery, equipment and supplies

46692   Wholesale of other machinery

 

 

BRANCHES AND FACTORIES

 

Branch:

                      Flexlift Hubgeräte GmbH

                      Töpferstr. 8

                      D 33609 Bielefeld

 

 

FINANCIAL INFORMATION

 

Payment experience:  cash discount/within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2013/2014

 

 

REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Eckendorfer Str. 115

                                    D 33609 Bielefeld

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 COMMERZBANK, 33596 BIELEFELD

 Sort. code: 48040035

 BIC: COBADEFFXXX

 

 Further banks

 DEUTSCHE BANK, 33501 BIELEFELD

 Sort. code: 48070020

 BIC: DEUTDE3BXXX

 COMMERZBANK VORMALS DRESDNER BANK, 33502 BIELEFELD

 Sort. code: 48080020

 BIC: DRESDEFF480

 BIELEFELDER VOLKSBANK -ALT-, 33529 BIELEFELD

 Sort. code: 48060036

 BIC: GENODEM1BIE

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2012/2013          EUR          8,822,576.00

                      2013/2014          EUR          8,753,104.00

 Profit:              2012/2013          EUR            727,273.00

                      2013/2014          EUR            702,749.00

 further business figures:

 Ac/ts receivable:                       EUR          3,241,881.00

 Liabilities:                            EUR          2,723,710.00

 Total numbers of vehicles:                                     12

 Employees:                                                     68

 - thereof permanent staff:                                     68

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.04.2013 - 31.03.2014

 Equity ratio [%]:                 41.42

 Liquidity ratio:                   1.29

 Return on total capital [%]:       9.44

 

 Balance sheet ratios 01.04.2012 - 31.03.2013

 Equity ratio [%]:                 41.47

 Liquidity ratio:                   1.83

 Return on total capital [%]:      10.45

 

 Balance sheet ratios 01.04.2011 - 31.03.2012

 Equity ratio [%]:                 34.16

 Liquidity ratio:                   0.69

 Return on total capital [%]:       5.05

 

 Balance sheet ratios 01.04.2010 - 31.03.2011

 Equity ratio [%]:                 32.96

 Liquidity ratio:                   1.03

 Return on total capital [%]:       3.59

 

 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:                    01.04.2013 - 31.03.2014

 

 ASSETS                                  EUR          7,796,348.90

  Fixed assets                           EUR          1,022,729.72

   Intangible assets                     EUR            541,869.00

   Tangible assets                       EUR            386,257.00

   Financial assets                      EUR             94,603.72

    Other / unspecified financial assets EUR             94,603.72

  Current assets                         EUR          6,734,079.28

   Stocks                                EUR          3,289,637.59

   Accounts receivable                   EUR          3,241,880.52

   Liquid means                          EUR            202,561.17

  Remaining other assets                 EUR             39,539.90

   Accruals (assets)                     EUR             39,539.90

 

 LIABILITIES                             EUR          7,796,348.90

  Shareholders' equity                   EUR          3,388,111.17

   Capital                               EUR             26,000.00

    Subscribed capital (share capital)   EUR             26,000.00

   Balance sheet profit/loss (+/-)       EUR          3,362,111.17

    Profit / loss brought forward        EUR          2,659,361.94

    Annual surplus / annual deficit      EUR            702,749.23

  Provisions                             EUR          1,684,528.00

  Liabilities                            EUR          2,723,709.73

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          8,753,104.44

  Staff expenses                         EUR          4,058,659.03

   Wages and salaries                    EUR          3,401,393.25

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            657,265.78

  Total depreciation                     EUR            208,991.93

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            208,991.93

  Other operating expenses               EUR          3,308,053.37

  Operating result from continuing

  operations                             EUR          1,177,400.11

  Interest result (+/-)                  EUR            -91,357.74

   Interest and similar income           EUR              2,228.91

   Interest and similar expenses         EUR             93,586.65

  Other financial result                 EUR              4,012.44

   Income from securities and loans from

   financial assets                      EUR              4,012.44

  Financial result (+/-)                 EUR            -87,345.30

  Result from ordinary operations (+/-)  EUR          1,090,054.81

  Extraordinary expenses                 EUR              8,000.00

  Extraordinary result (+/-)             EUR             -8,000.00

  Income tax / refund of income tax (+/-)EUR           -374,041.30

  Other taxes / refund of taxes          EUR             -5,264.28

  Tax (+/-)                              EUR           -379,305.58

  Annual surplus / annual deficit        EUR            702,749.23

 

 Type of balance

 sheet:                             Company balance sheet

 

 Financial year:                    01.04.2012 - 31.03.2013

 

 ASSETS                                  EUR          7,021,957.06

  Fixed assets                           EUR            517,983.78

   Intangible assets                     EUR             78,739.50

   Tangible assets                       EUR            348,653.00

   Financial assets                      EUR             90,591.28

    Other / unspecified financial assets EUR             90,591.28

  Current assets                         EUR          6,396,807.28

   Stocks                                EUR          2,709,750.42

   Accounts receivable                   EUR          2,611,328.67

   Liquid means                          EUR          1,075,728.19

  Remaining other assets                 EUR            107,166.00

   Accruals (assets)                     EUR            107,166.00

 

 LIABILITIES                             EUR          7,021,957.06

  Shareholders' equity                   EUR          2,935,361.94

   Capital                               EUR             26,000.00

    Subscribed capital (share capital)   EUR             26,000.00

   Balance sheet profit/loss (+/-)       EUR          2,909,361.94

    Profit / loss brought forward        EUR          2,182,088.71

    Annual surplus / annual deficit      EUR            727,273.23

  Provisions                             EUR          1,585,199.16

  Liabilities                            EUR          2,501,395.96

  Guarantees and other commitments       EUR            564,868.42

   Guarantees / warranties               EUR            564,868.42

    Guarantees                           EUR            564,868.42

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          8,822,576.23

  Staff expenses                         EUR          3,642,931.61

   Wages and salaries                    EUR          3,034,636.18

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            608,295.43

  Total depreciation                     EUR            117,900.36

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            117,900.36

  Other operating expenses               EUR          3,817,652.58

  Operating result from continuing

  operations                             EUR          1,244,091.68

  Interest result (+/-)                  EUR           -121,425.52

   Interest and similar income           EUR              2,061.03

   Interest and similar expenses         EUR            123,486.55

  Other financial result                 EUR              8,658.73

   Income from securities and loans from

   financial assets                      EUR              8,658.73

  Financial result (+/-)                 EUR           -112,766.79

  Result from ordinary operations (+/-)  EUR          1,131,324.89

  Extraordinary expenses                 EUR              2,575.00

  Extraordinary result (+/-)             EUR             -2,575.00

  Income tax / refund of income tax (+/-)EUR           -395,216.22

  Other taxes / refund of taxes          EUR             -6,260.44

  Tax (+/-)                              EUR           -401,476.66

  Annual surplus / annual deficit        EUR            727,273.23

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.33

UK Pound

1

Rs.92.53

Euro

1

Rs.67.60

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

NIT

 

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.