|
Report No. : |
316852 |
|
Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
WITTE TUBE & PIPE SYSTEMS GMBH |
|
|
|
|
Registered Office : |
Schafjückenweg 5, D 26180 Rastede |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
1974 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Wholesale of non-ferrous ores, metals
and metal semi-finished goods ·
Wholesale of plumbing and heating
equipment and supplies ·
Wholes of metal and plastic goods for
construction purposes |
|
|
|
|
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 – 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, 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 2014. The new German government introduced
a minimum wage of about $11.60 (8.50 euros) 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%. The budget was essentially in
balance in 2014. 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 plans to replace nuclear
power with renewable energy, which accounts for 34% of total energy
consumption, up from 9% in 2000. 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 |
WITTE TUBE & PIPE SYSTEMS GMBH
Company Status: active
Schafjückenweg 5
D 26180 Rastede
Telephone:04402/9249-0
Telefax:
04402/9249-67
Homepage: www.witte-nederland.de
E-mail: info@witte-nederland.de
VAT
no.: DE277933982
Tax
ID number: 69/200/27597
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1974
Shareholders'
agreement: 26.05.2011
Registered on: 09.06.2011
Commercial Register: Local court 26135
Oldenburg
under: HRB 205739
Share capital: EUR 2,000,000.00
Shareholder:
Tom Witte
Mansholter Str. 24
D 26215 Wiefelstede
born: 09.03.1963
Share: EUR 1,500,000.00
Shareholder:
Lennart Witte
Mansholter Str. 24
D 26215 Wiefelstede
born: 11.08.1991
Share: EUR 500,000.00
Manager:
Tom Witte
Mansholter Str. 24
D 26215 Wiefelstede
having sole power of
representation
born: 09.03.1963
Marital status: married
Further functions/participations of Tom Witte
(Manager)
Shareholder:
JUMA
Grundstücksverwaltungsgesellschaft mbH
Mansholter Str. 24
D 26215 Wiefelstede
Legal form: Private
limited company
Share capital: EUR
50,000.00
Share: EUR 50,000.00
Registered
on: 02.07.2009
Reg. data: 26135 Oldenburg, HRB 203490
Shareholder:
JUMA Job GmbH
Staugraben 6a
D 26122 Oldenburg
Legal form: Private
limited company
Share capital: EUR 50,000.00
Share: EUR 45,000.00
Registered
on: 25.02.2010
Reg. data: 26135 Oldenburg, HRB 204280
Manager:
JUMA
Grundstücksverwaltungsgesellschaft mbH
Mansholter Str. 24
D 26215 Wiefelstede
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 02.07.2009
Reg. data: 26135 Oldenburg, HRB 203490
Manager:
JUMA Job GmbH
Staugraben 6a
D 26122 Oldenburg
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 25.02.2010
Reg. data: 26135 Oldenburg, HRB 204280
09.06.2011 -
16.06.2011 WITTE TUPE & PIPE SYSTEMS
GMBH
Schafjückenweg 5
D 26180 Rastede
Private limited
company
15.06.2011 - 15.12.2014 Manager
Jürgen Eberhard
Heinrich Paul Witte
D 26160 Bad
Zwischenahn
Main industrial sector
46722
Wholesale of non-ferrous ores, metals and metal semi-finished goods
46742
Wholesale of plumbing and heating equipment and supplies
46743
Wholes of metal and plastic goods for construction purposes
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Schafjückenweg 5
D 26180 Rastede
Real Estate of: Lennart Witte
Type of ownership: Tenant
Address Mansholter Str. 24
D 26215 Wiefelstede
Land
register documents were not available.
BREMER LANDESBANK, 26122 OLDENBURG (OLDB)
Sort. code: 29050000, Account no.: 3004839004
BIC: BRLADE22XXX, IBAN: DE47290500003004839004
OLDENBURGISCHE LANDESBANK AG, 26016 OLDENBURG
(OLDB)
Sort. code: 28020050, Account no.: 1443173800
BIC: OLBODEH2XXX, IBAN: DE54280200501443173800
Turnover: 2013 EUR 20,255,353.00
2014
EUR 20,300,000.00
Profit:
2013 EUR 1,051,795.00
further business figures:
Equipment: EUR 261,660.00
Ac/ts receivable: EUR
2,468,571.00
Liabilities: EUR 1,603,479.00
Total numbers of vehicles: 11
-
Passenger cars: 11
Employees:
51
- Part-time
employees: 4
-
Trainees:
12
-
Temporary workers: 4
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 79.89
Liquidity ratio: 5.03
Return on total capital [%]: 7.40
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 75.24
Liquidity ratio: 2.00
Return on total capital [%]: 9.46
Balance sheet ratios 09.06.2011 - 31.12.2011
Equity ratio [%]: 61.16
Liquidity ratio: 1.48
Return on total capital [%]: 4.30
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: 01.01.2013 - 31.12.2013
ASSETS EUR 15,293,315.70
Fixed assets
EUR 3,655,656.80
Intangible assets
EUR 2,441.00
Concessions, licences, rights
EUR 2,441.00
Tangible assets
EUR 3,635,215.80
Land / similar rights
EUR 3,159,511.80
Plant / machinery
EUR 214,044.00
Other tangible assets / fixtures and
fittings
EUR 261,660.00
Financial assets
EUR 18,000.00
Shares in participations /
subsidiaries and the like
EUR 18,000.00
Shares in related companies EUR 18,000.00
Current assets
EUR 11,635,641.90
Stocks
EUR 8,074,987.77
Finished goods / work in progress
EUR 8,060,046.77
Advance payments made
EUR 14,941.00
Accounts receivable
EUR 2,468,570.94
Amounts due from shareholders
EUR 1,072,483.50
Trade debtors
EUR 1,227,732.37
Amounts due from related companies
EUR 128,564.24
Other debtors and assets
EUR 39,790.83
Liquid means
EUR 1,092,083.19
Remaining other assets EUR 2,017.00
Accruals (assets)
EUR 2,017.00
LIABILITIES EUR 15,293,315.70
Shareholders' equity
EUR 12,199,858.07
Capital EUR 2,000,000.00
Subscribed capital (share capital)
EUR 2,000,000.00
Reserves
EUR 2,000,000.00
Retained earnings / revenue reserves EUR 2,000,000.00
Balance
sheet profit/loss (+/-) EUR 8,199,858.07
Profit / loss brought forward
EUR 7,148,063.47
Annual surplus / annual deficit
EUR 1,051,794.60
Provisions
EUR 1,489,979.07
Pension provisions and comparable
provisions
EUR 843,809.00
Provisions for taxes
EUR 270,228.28
Other / unspecified provisions
EUR 375,941.79
Liabilities
EUR 1,603,478.56
Financial debts
EUR 71,655.00
Liabilities due to banks
EUR 71,655.00
Other liabilities
EUR 1,531,823.56
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,166,211.66
Liabilities due to shareholders
EUR 233,838.50
Unspecified other liabilities
EUR 131,773.40
thereof liabilities from tax /
financial authorities
EUR 112,169.78
Guarantees and other commitments
EUR 360,000.00
Guarantees / warranties
EUR 30,000.00
Guarantees EUR 30,000.00
Liability from creation of a security
interest for third parties
EUR 330,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 20,255,353.06
Other operating income
EUR 110,247.04
Cost of materials
EUR 14,180,996.15
Raw materials and supplies, purchased
goods
EUR 14,180,996.15
Gross result (+/-)
EUR 6,184,603.95
Staff expenses
EUR 1,871,989.82
Wages and salaries
EUR 1,603,383.00
Social security contributions and
expenses for pension plans and
benefits
EUR 268,606.82
Total depreciation
EUR 381,989.34
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 381,989.34
Other operating expenses
EUR 2,357,285.17
Operating result from continuing
operations
EUR 1,573,339.62
Interest result (+/-) EUR -32,710.85
Interest and similar income
EUR 46,162.24
Interest and similar expenses
EUR 78,873.09
Financial result (+/-)
EUR -32,710.85
Result from ordinary operations (+/-)
EUR 1,540,628.77
Income tax / refund of income tax (+/-)EUR -480,073.84
Other taxes / refund of taxes
EUR -8,760.33
Tax
(+/-)
EUR -488,834.17
Annual
surplus / annual deficit EUR 1,051,794.60
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 14,820,160.93
Fixed assets EUR 3,967,095.05
Intangible assets
EUR 7,290.00
Tangible assets
EUR 3,941,805.05
Financial assets
EUR 18,000.00
Other / unspecified financial assets EUR 18,000.00
Current assets
EUR 10,850,388.88
Stocks
EUR 6,845,632.86
Accounts receivable
EUR 3,047,801.28
thereof total due from shareholders
EUR 792,643.00
Liquid means
EUR 956,954.74
Remaining other assets
EUR 2,677.00
Accruals (assets)
EUR 2,677.00
LIABILITIES EUR 14,820,160.93
Shareholders' equity
EUR 11,348,063.47
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Reserves
EUR 1,975,000.00
Retained earnings / revenue reserves EUR 1,975,000.00
Balance sheet profit/loss (+/-)
EUR 9,348,063.47
Profit / loss brought forward
EUR 8,020,712.50
Annual surplus / annual deficit
EUR 1,327,350.97
Provisions
EUR 1,385,323.77
Liabilities
EUR 2,086,773.69
Guarantees and other commitments
EUR 360,000.00
Guarantees / warranties
EUR 360,000.00
Guarantees
EUR 360,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 6,226,090.87
Staff expenses
EUR 1,913,168.80
Wages and salaries
EUR 1,636,808.17
Social security contributions and
expenses
for pension plans and
benefits
EUR 276,360.63
Total depreciation
EUR 410,492.09
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 410,492.09
Other operating expenses
EUR 2,310,901.08
Operating result from continuing
operations
EUR 1,591,528.90
Result from participating interests
(+/-)
EUR 200,000.00
Expenses / income from participations EUR 200,000.00
Income from related companies
EUR 200,000.00
Interest result (+/-)
EUR -21,080.08
Interest and similar income
EUR 50,116.22
Interest and similar expenses
EUR 71,196.30
Other financial result
EUR 5,308.33
Income from securities and loans from
financial assets
EUR 5,308.33
Financial result (+/-)
EUR 184,228.25
Result from ordinary operations (+/-)
EUR 1,775,757.15
Income tax / refund of income tax (+/-)EUR -440,217.53
Other taxes / refund of taxes
EUR -8,188.65
Tax
(+/-)
EUR -448,406.18
Annual surplus / annual deficit
EUR 1,327,350.97
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.