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Report No. : |
319430 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
A. MONFORTS TEXTILMASCHINEN GMBH & CO. KG |
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|
|
|
Registered Office : |
Blumenberger
Str. 143/145, D 41061 Mönchengladbach |
|
|
|
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Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
|
Date of Incorporation : |
11.08.1993 |
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|
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Com. Reg. No.: |
HRA 3133 |
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|
|
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Legal Form : |
Ltd partnership
with priv. ltd. company as general partner |
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Line of Business : |
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|
|
|
|
No of Employees : |
98 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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|
|
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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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
A.
Monforts Textilmaschinen GmbH & Co. KG
Blumenberger
Str. 143/145
D 41061
Mönchengladbach
Telephone:02161/401-0
Telefax: 02161/401-416
Homepage: www.monforts.de
E-mail: marketing@monforts.de
Active
DE811506224
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Registered on: 11.08.1993
Register of
companies: Local
court 41061 Mönchengladbach
under: HRA
3133
Total cap. contribution: EUR 5,100,000.00
Limited partner:
Gensford S.à.r.l.
560A, rue de Neudorf
L 2220 Luxemburg
Legal form: Other legal
form
Share: EUR 5,100,000.00
General partner:
A. Monforts
Textilmaschinen-Verwaltungs-GmbH
Blumenberger Str. 143/145
D 41061 Mönchengladbach
Legal form: Private limited
company
Share capital: EUR 26,000.00
Registered on: 29.07.1993
Reg. data: 41061
Mönchengladbach, HRB 4634
Shareholder:
Gensford S.à.r.l.
560A, rue de Neudorf
L 2220 Luxemburg
Legal form: Other legal
form
Share: EUR 26,000.00
Manager:
Roland Hampel
D 52531 Übach-Palenberg
having sole power of
representation
born: 10.06.1954
Profession: graduate
engineer
Manager:
Alexander Wai Yung Wan
RC Kowloon, Hong Kong
having sole power of
representation
born: 12.04.1951
Nationality: Chinese
Manager:
Du Qianyi
RC Hong Kong
authorized to jointly
represent the company
born: 05.11.1965
Nationality: Chinese
Manager:
Ji Xin
RC HongKong
having sole power of
representation
born: 16.12.1969
Nationality: Chinese
Manager:
Tinghong Shi
RC Hongkong (Insel Tsing Yi)
having sole power of
representation
born: 20.09.1962
Nationality: Chinese
Proxy:
Ulrich Geusen
D 41460 Neuss
authorized to jointly
represent the company
born: 19.10.1957
11.08.1993 - 20.04.2005 A.
Monforts Textilmaschinen GmbH & Co. KG
Schwalmstr. 301
D 41238
Mönchengladbach
Ltd
partnership with priv. ltd. Company as general partner
20.04.2005 - 11.11.2011 A.
Monforts Textilmaschinen GmbH & Co. KG
Schwalmstr. 301
D 41238 Mönchengladbach
Ltd partnership with priv.
ltd. Company as general partner
Main industrial sector
28940
Manufacture of machinery for textile, apparel and leather production
46640 Wholesale of machinery for the textile
industry and of sewing and knitting machines
Shareholder:
ABT
Vermögensverwaltungs-Gesellschaft mbH
Blumenberger Str. 143
/145
D 41061 Mönchengladbach
Legal form: Private limited
company
Company Status: active
Share capital: EUR 75,000.00
Share: EUR 75,000.00
Reg. data: 06.12.2002
Local court 41061
Mönchengladbach
HRB 7094
Payment experience: within
periods customary in this trade
Negative information: We have no negative information at hand.
Balance
sheet year: 2013
Type of ownership: Tenant
Address Blumenberger
Str. 143 /145
D 41061 Mönchengladbach
Land register documents were not available.
COMMERZBANK, 41012 MÖNCHENGLADBACH
Sort. code: 31040015
BIC: COBADEFFXXX
DEUTSCHE BANK, 41061 MÖNCHENGLADBACH
Sort. code: 31070001
BIC: DEUTDEDD310
Turnover: 2013 EUR 42,906,957.00
Profit: 2013 EUR 443,521.00
Equipment: EUR 243,439.00
Ac/ts receivable: EUR 6,302,069.00
Liabilities: EUR 5,563,248.00
Employees:
98
- Trainees:
8
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: -14.86
Liquidity ratio: 1.83
Return on total capital [%]: 3.83
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: -9.83
Liquidity ratio: 0.18
Return on total capital [%]: -12.51
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.
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.
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 13,289,546.44
Fixed assets
EUR 2,819,128.90
Intangible assets
EUR 47,596.00
Concessions, licences, rights
EUR 47,596.00
Tangible assets
EUR 1,100,631.10
Plant / machinery
EUR 52,143.00
Other tangible assets / fixtures and
fittings EUR 243,439.00
Advance payments made / construction
in progress
EUR 805,049.10
Financial assets
EUR 1,670,901.80
Shares in participations /
subsidiaries
and the like EUR 1,670,901.80
Shares in related companies
EUR 1,670,901.80
Current assets
EUR 8,649,196.34
Stocks
EUR 221,251.47
Raw materials, consumables and
supplies
EUR 1,404,806.72
Finished goods / work in progress
EUR 1,433,725.69
Advance payments made
EUR 132,256.66
Minus received advance payments for
orders / installments for stocks
EUR -2,749,537.60
Accounts receivable
EUR 6,302,069.49
Trade debtors
EUR 4,280,428.41
Amounts due from related companies
EUR 1,395,316.36
Other debtors and assets
EUR 626,324.72
Liquid means
EUR 2,125,875.38
Remaining other assets
EUR 1,821,221.20
Accruals (assets)
EUR 101,442.32
Deferred taxes (assets)
EUR 63,754.80
Deficit not covered by shareholders'
equity
EUR 1,656,024.08
LIABILITIES EUR 13,289,546.44
Shareholders' equity
EUR 0.00
Capital
EUR 5,100,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 5,100,000.00
Reserves
EUR 2,052,588.00
Balance sheet profit/loss (+/-)
EUR -8,808,612.08
Balance sheet profit / loss
EUR -8,808,612.08
Other
shareholders' equity (+/-) EUR 1,656,024.08
Deficit not covered by shareholders'
equity
EUR 1,656,024.08
Provisions
EUR 7,726,298.10
Pension provisions and comparable
provisions
EUR 1,428,456.83
Provisions for taxes
EUR 283,011.75
Other / unspecified provisions
EUR 6,014,829.52
Liabilities EUR 5,563,248.34
Other liabilities
EUR 5,563,248.34
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,708,833.85
Liabililties due to related companiesEUR 2,645,164.41
Unspecified other liabilities
EUR 1,209,250.08
thereof liabilities from tax /
financial authorities
EUR 238,059.12
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 42,906,957.43
Inventory change + own costs (+/-)
EUR 1,204,730.40
Inventory change (+/-)
EUR 1,096,954.48
Capitalised own costs
EUR 107,775.92
Other operating income
EUR 1,547,645.72
Cost of materials
EUR 28,478,088.81
Raw materials and supplies, purchased
goods
EUR 26,849,712.78
Purchased services
EUR 1,628,376.03
Gross result (+/-)
EUR 17,181,244.74
Staff expenses
EUR 7,811,909.62
Wages and salaries
EUR 6,553,019.06
Social security contributions and
expenses for pension plans and
benefits
EUR 1,258,890.56
Total depreciation
EUR 127,586.60
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 127,586.60
Other operating expenses
EUR 7,050,163.85
Operating result from continuing
operations EUR 2,191,584.67
Result from participating interests
(+/-)
EUR 38,656,477.89
Expenses / income from participations EUR 38,656,477.89
Income from transfer of profits
EUR 38,656,477.89
Interest result (+/-)
EUR -185,199.37
Interest and similar income
EUR 10,747.37
thereof from related companies
EUR 9,125.56
Interest and similar expenses EUR 195,946.74
Other financial result
EUR -39,925,000.00
Depreciation on financial assets and
marketable securities
EUR 39,925,000.00
Financial result (+/-)
EUR -1,453,721.48
Result from ordinary operations (+/-)
EUR 737,863.19
Income tax / refund of income tax (+/-)EUR -282,208.24
Other taxes / refund of taxes
EUR -12,134.25
Tax (+/-)
EUR -294,342.49
Annual surplus / annual deficit
EUR 443,520.70
Type of balance sheet: Company
balance sheet
Financial year: 01.01.2012
- 31.12.2012
ASSETS EUR 57,662,679.32
Fixed assets
EUR 41,897,315.80
Intangible assets
EUR 58,153.00
Concessions, licences, rights
EUR 58,153.00
Tangible assets EUR 243,261.00
Plant / machinery
EUR 57,107.00
Other tangible assets / fixtures and
fittings
EUR 186,154.00
Financial assets
EUR 41,595,901.80
Shares in participations /
subsidiaries and the like
EUR 41,595,901.80
Shares in related companies
EUR 41,595,901.80
Current assets
EUR 10,561,879.71
Stocks
EUR 2,054,381.09
Raw materials, consumables and
supplies
EUR 2,514,066.24
Finished goods / work in progress
EUR 336,771.21
Advance payments made EUR 55,148.00
Minus received advance payments for
orders / installments for stocks
EUR -851,604.36
Accounts receivable
EUR 8,427,646.43
Trade debtors
EUR 4,603,781.77
Amounts due from related companies
EUR 3,180,767.75
Other debtors and assets
EUR 643,096.91
Liquid means
EUR 79,852.19
Remaining other assets EUR 5,203,483.81
Accruals (assets)
EUR 40,872.43
Deferred taxes (assets)
EUR 63,066.60
Deficit not covered by shareholders'
equity
EUR 5,099,544.78
LIABILITIES EUR 57,662,679.32
Shareholders' equity
EUR 0.00
Capital
EUR 2,100,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 2,100,000.00
Reserves
EUR 2,052,588.00
Balance sheet profit/loss (+/-)
EUR -9,252,132.78
Balance sheet profit / loss
EUR -9,252,132.78
Other shareholders' equity (+/-)
EUR 5,099,544.78
Deficit not covered by shareholders'
equity
EUR 5,099,544.78
Provisions
EUR 11,111,363.54
Pension provisions and comparable
provisions
EUR 1,246,918.83
Other / unspecified provisions
EUR 9,864,444.71
Liabilities
EUR 46,551,315.78
Financial debts
EUR 956,692.26
Liabilities due to banks
EUR 956,692.26
Other liabilities
EUR 45,594,623.52
Trade creditors (for IAS incl. bills
of exchange) EUR 1,392,815.53
Liabililties due to related companiesEUR 43,269,646.83
Unspecified other liabilities
EUR 932,161.16
thereof liabilities from tax /
financial authorities
EUR 252,015.15
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 46,450,629.56
Inventory change + own
costs (+/-) EUR -85,092.00
Inventory change (+/-) EUR -85,092.00
Other operating
income EUR 674,538.33
Cost of materials EUR 33,729,915.38
Raw materials and
supplies, purchased
goods EUR 31,887,170.02
Purchased services EUR 1,842,745.36
Gross result (+/-) EUR 13,310,160.51
Staff expenses EUR 11,535,790.99
Wages and salaries EUR 10,203,786.20
Social security
contributions and
expenses for pension
plans and
benefits EUR 1,332,004.79
Total depreciation EUR 109,600.51
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 109,600.51
Other operating
expenses EUR 8,259,458.88
Operating result from
continuing
operations EUR -6,594,689.87
Interest result (+/-) EUR 42,458.87
Interest and similar
income EUR 169,338.49
thereof from related
companies EUR 75,444.55
Interest and similar expenses EUR 126,879.62
Financial result
(+/-) EUR 42,458.87
Result from ordinary
operations (+/-) EUR -6,552,231.00
Income tax / refund of
income tax (+/-)EUR -16,298.44
Other taxes / refund of
taxes EUR -268.00
Tax (+/-) EUR -16,566.44
Annual surplus / annual
deficit EUR -6,568,797.44
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.61 |
|
|
1 |
Rs. 96.55 |
|
Euro |
1 |
Rs. 69.18 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.