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Report No. : |
263834.2 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ERWEKA GESELLSCHAFT MIT BESCHRÄNKTER
HAFTUNG |
|
|
|
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Registered Office : |
Ottostr. 20-22 D 63150 Heusenstamm Post
Box: 12 53, D 63130 Heusenstamm |
|
|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.10.1951 |
|
|
|
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Com. Reg. No.: |
HRB 2382 |
|
|
|
|
Legal Form : |
Private limited company |
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|
|
|
Line of Business : |
Manufacture of other special-purpose
machinery n.e.c. Manufacture of testing machines |
|
|
|
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No. of Employee : |
73 |
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 |
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Very High |
C1 |
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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 |
ERWEKA GESELLSCHAFT MIT BESCHRÄNKTER
HAFTUNG
Company
Status: active
Ottostr. 20-22
D 63150 Heusenstamm
Post Box:
12 53, D 63130 Heusenstamm
Telephone:06104/69030
Telefax: 06104/690340
Homepage: www.erweka.com
E-mail:
marketing@erweka.com
VAT no.: DE113545977
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 02.10.1951
Shareholders'
agreement: 02.10.1951
Registered on: 21.10.1951
Commercial Register: Local court 63065 Offenbach
under: HRB
2382
Share capital: EUR 500,000.00
Shareholder:
Werner-Georg Müller
D 61462 Königstein
born: 06.07.1943
Share: EUR 255,000.00
Shareholder:
Claudia Müller
D 61462 Königstein
born: 08.08.1966
Share: EUR 245,000.00
Manager:
Werner-Georg Müller
D 61462 Königstein
having sole power of
representation
born: 06.07.1943
Profession: Businessman
Marital status: unknown
Manager:
Manfred Koller
D 63179 Obertshausen
having sole power of
representation
born: 14.04.1968
Proxy:
Claudia Müller
D 61462 Königstein
having sole power of
representation
born: 08.08.1966
Marital status: unknown
Further
functions/participations of Werner-Georg Müller (Manager)
Shareholder:
Physiolution GmbH
Walther-Rathenau-Str. 49a
D 17489 Greifswald
Legal form: Private
limited company
Share capital: EUR 50,000.00
Share: EUR 12,500.00
Registered
on: 08.12.2009
Reg. data: 18439 Stralsund, HRB 7826
02.10.1951 - 31.12.1984 ERWEKA Gesellschaft mit beschränkter
Haftung
D 60311
Frankfurt
Private limited
company
01.01.1985 - 29.10.1990 ERWEKA Apparatebau Gesellschaft mit
beschränkter Haftung
Ottostr. 20-22
D 63150 Heusenstamm
Private limited
company
Main
industrial sector
26513
Manufacture of testing machines
28990
Manufacture of other special-purpose machinery n.e.c.
46692
Wholesale of other machinery
46693
Wholesale of other equipment and accessories for machinery and technical
supplies
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 Ottostr.
20-22
D 63150 Heusenstamm
Land register documents were not available.
VEREINIGTE
VOLKSBANK MAINGAU, 63150 HEUSENSTAMM
Sort. code: 50561315
BIC: GENODE51OBH
COMMERZBANK, 63003 OFFENBACH AM MAIN
Sort. code: 50540028
BIC: COBADEFFXXX
POSTBANK, 60288 FRANKFURT AM MAIN
Sort. code: 50010060
BIC: PBNKDEFFXXX
Equipment: EUR 297,329.00
Ac/ts receivable: EUR 5,816,216.00
Liabilities: EUR
4,515,181.00
Employees: 73
- thereof permanent staff: 69
- Temporary workers: 4
Balance sheet ratios 01.01.2012 -
31.12.2012
Equity ratio [%]: 30.23
Liquidity ratio: 1.39
Return on total capital [%]: 4.88
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 28.15
Liquidity ratio: 1.20
Return on total capital [%]: 3.79
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 9,952,597.38
Fixed assets
EUR 970,788.38
Intangible assets
EUR 576,422.00
Concessions, licences, rights
EUR 576,422.00
Tangible assets
EUR 394,066.38
Land / similar rights
EUR 93,794.38
Plant / machinery
EUR 2,943.00
Other tangible assets / fixtures and
fittings
EUR 297,329.00
Financial assets
EUR 300.00
Shares in participations /
subsidiaries and the like
EUR 300.00
Shares in cooperatives
EUR 300.00
Current assets
EUR 8,924,744.15
Stocks
EUR 2,705,954.66
Raw materials, consumables and
supplies
EUR 2,142,923.58
Finished goods / work in progress
EUR 563,031.08
Accounts receivable
EUR 5,816,216.06
Amounts due from shareholders
EUR 100,000.00
Trade debtors
EUR 2,422,281.23
Amounts due from related companies
EUR 1,784,812.14
Other debtors and assets
EUR 1,509,122.69
Liquid means
EUR 402,573.43
Remaining other assets
EUR 57,064.85
Accruals (assets)
EUR 57,064.85
LIABILITIES EUR 9,952,597.38
Shareholders' equity EUR 3,078,310.22
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Reserves
EUR 500,000.00
Capital reserves
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 2,078,310.22
Profit / loss brought forward
EUR 1,726,369.87
Annual surplus / annual deficit
EUR 351,940.35
Items between shareholders' equity and
debt capital
EUR 1,850,000.00
Mezzanine financing
EUR 1,850,000.00
Contributions of silent partners
EUR 1,850,000.00
Provisions EUR 509,106.08
Provisions for taxes
EUR 170,640.55
Other / unspecified provisions
EUR 338,465.53
Liabilities
EUR 4,515,181.08
Financial debts
EUR 3,288,080.98
Liabilities due to banks
EUR 3,288,080.98
Other liabilities
EUR 1,227,100.10
Trade creditors (for IAS incl. bills
of exchange) EUR 388,439.80
Liabilities from received advance
payments
EUR 439,446.89
Liabililties due to related companiesEUR 1,298.98
Unspecified other liabilities
EUR 397,914.43
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm.
Code (HGB)
Sales
EUR 16,046,009.90
Inventory change + own costs (+/-)
EUR -54,501.74
Inventory change (+/-)
EUR -54,501.74
Other operating income
EUR 236,252.59
Cost of materials
EUR 5,518,488.65
Raw materials and supplies, purchased
goods EUR 5,141,677.71
Purchased services
EUR 376,810.94
Gross result (+/-)
EUR 10,709,272.10
Staff expenses
EUR 4,394,635.48
Wages and salaries
EUR 3,742,736.92
Social security contributions and
expenses for pension plans and
benefits
EUR 651,898.56
Total depreciation
EUR 820,916.89
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 820,916.89
Other operating expenses
EUR 4,455,555.33
Operating result from continuing
operations
EUR 1,038,164.40
Interest result (+/-)
EUR -307,750.48
Interest and similar income
EUR 29,718.58
Interest and similar expenses
EUR 337,469.06
Financial result (+/-)
EUR -307,750.48
Result from ordinary operations (+/-)
EUR 730,413.92
Extraordinary expenses
EUR 89,418.86
Extraordinary result (+/-)
EUR -89,418.86
Expenses for transfer of profits to a
parent company
EUR 39,000.00
Income tax / refund of income tax (+/-)EUR -227,523.73
Other taxes / refund of taxes
EUR -22,530.98
Tax (+/-)
EUR -250,054.71
Annual surplus / annual deficit
EUR 351,940.35
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 10,360,391.35
Fixed assets
EUR 915,170.38
Intangible assets
EUR 491,999.00
Concessions, licences, rights
EUR 491,999.00
Tangible assets
EUR 422,871.38
Land / similar rights
EUR 103,391.38
Plant / machinery
EUR 32,538.00
Other tangible assets / fixtures and
fittings
EUR 286,942.00
Financial assets
EUR 300.00
Shares in participations /
subsidiaries and the like
EUR 300.00
Shares in cooperatives EUR 300.00
Current assets
EUR 9,415,592.49
Stocks
EUR 2,843,960.68
Raw materials, consumables and
supplies
EUR 2,226,427.86
Finished goods / work in progress
EUR 617,532.82
Accounts receivable
EUR 6,544,418.95
Trade debtors
EUR 2,819,334.18
Other debtors and assets EUR
3,725,084.77
Liquid means
EUR 27,212.86
Remaining other assets
EUR 29,628.48
Accruals (assets)
EUR 29,628.48
LIABILITIES EUR 10,360,391.35
Shareholders' equity
EUR 3,028,501.20
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Reserves EUR 500,000.00
Capital reserves
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 2,028,501.20
Profit / loss brought forward
EUR 1,771,596.33
Annual surplus / annual deficit EUR 256,904.87
Items between shareholders' equity and
debt capital
EUR 1,550,515.00
Mezzanine financing
EUR 1,550,515.00
Contributions of silent partners
EUR 1,550,515.00
Provisions
EUR 410,086.24
Provisions for taxes
EUR 120,000.00
Other / unspecified provisions
EUR 290,086.24
Liabilities EUR 5,371,288.91
Financial debts
EUR 2,613,074.27
Liabilities due to banks
EUR 2,613,074.27
Other liabilities
EUR 2,758,214.64
Trade creditors (for IAS incl. bills
of exchange)
EUR 741,655.65
Liabilities from received advance
payments
EUR 351,292.03
Unspecified other liabilities
EUR 1,665,266.96
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 13,538,063.02
Inventory change + own costs (+/-)
EUR -411,475.71
Inventory change (+/-)
EUR -411,475.71
Other operating income
EUR 1,249,999.70
Cost of materials
EUR 4,095,701.03
Raw materials and supplies, purchased
goods EUR 3,734,646.97
Purchased services
EUR 361,054.06
Gross result (+/-)
EUR 10,280,885.98
Staff expenses
EUR 4,166,909.71
Wages and salaries
EUR 3,525,215.10
Social security contributions and
expenses for pension plans and
benefits
EUR 641,694.61
Total depreciation
EUR 564,763.48
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 564,763.48
Other operating expenses
EUR 4,395,697.21
Operating result from continuing
operations EUR 1,153,515.58
Interest result (+/-)
EUR -253,173.41
Interest and similar income
EUR 557.84
Interest and similar expenses
EUR 253,731.25
Financial result (+/-)
EUR -253,173.41
Result from ordinary operations (+/-)
EUR 900,342.17
Expenses for transfer of profits to a
parent company
EUR 129,958.33
Income tax / refund of income tax (+/-)EUR -491,250.82
Other taxes / refund of taxes
EUR -22,228.15
Tax (+/-)
EUR -513,478.97
Annual surplus / annual deficit
EUR 256,904.87
Inconsistent balance sheets:
Financial year published on
01.01.2010 - 31.12.2010 25.01.2012
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SDA |
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.