MIRA INFORM REPORT

 

 

Report No. :

334674

Report Date :

05.08.2015

 

IDENTIFICATION DETAILS

 

Name :

STADA ARZNEIMITTEL AKTIENGESELLSCHAFT

 

 

Registered Office :

Stadastr. 2-18 D 61118 Bad Vilbel

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

01.01.1953

 

 

Legal Form :

Public limited company

 

 

Line of Business :

·         Manufactue of soap and detergents, cleaning and polishing preparations

·         Manufacture of pharmaceutical preparations

·         Wholesale of pharmaceutical, medical and orthpedic goods

 

 

No. of Employees :

1021

 

 

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 :

Slow but correct

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 5.2% 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 accounted for 27.8% of gross electricity consumption in 2014, 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.

 

 

Source : CIA

 

 

 

 

Company Name and Address

 

STADA Arzneimittel Aktiengesellschaft

 

Stadastr. 2-18

D 61118 Bad Vilbel

Telephone:06101/6030

Telefax:  06101/603259

Homepage: www.stada.de

E-mail:   info@stada.de

 

 

Company Status    

 

Active

 

 

VAT no.           

 

DE112589604

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company Summery

 

 LEGAL FORM               Public limited company

 Date of foundation:        01.01.1953

 Registered on:              15.07.1970

 Commercial Register:    Local court 60313 Frankfurt

 under:                          HRB 71290

 

 Share capital:                          EUR        157,629,420.00

 

                                    The company is listed on the stock market.

 

 Shareholder:

                      Allianz Global Investors GmbH

                      Bockenheimer Landstr. 42-44

                      D 60323 Frankfurt

                      Post Box:

                      11 04 43, D 60036 Frankfurt

                      Legal form: Private limited company

                      Share capital:     EUR         49,900,900.00

                      Share:                               2.950 %

                      Registered on: 10.04.1968

                      Reg. data: 60313 Frankfurt, HRB 9340

 Shareholder:

                      Gryphon Investment Counsel Inc

                      CDN  Toronto

                      Legal form: Other legal form

                      Share:                               3.200 %

 Shareholder:

                      SKAGEN AS

                      N  Stavanger

                      Legal form: Other legal form

                      Share:                               3.010 %

 Shareholder:

                      LSV Asset Management

                      USA  Chicago

                      Legal form: Other legal form

                      Share:                               3.070 %

 Shareholder:

                      Empyrean Capital Partners LP

                      USA  Los Angeles

                      Legal form: Other legal form

                      Share:                               2.950 %

 Shareholder:

                      Gryphon International Investment Corporation

                      CDN  Toronto

                      Legal form: Other legal form

                      Share:                               2.960 %

 President of the Board of Directors:

                      Hartmut Retzlaff

                      D 61118 Bad Vilbel

                      born: 22.09.1953

                      Profession: Pharmacologist

 Member of the Board of Directors:

                      Helmut Kraft

                      Kastellweg 29

                      D 69120 Heidelberg

                      born: 07.12.1959

                      Profession: Solicitor

 Member of the Board of Directors:

                      Dr. Matthias Wiedenfels

                      D 60308 Frankfurt

                      authorized to jointly represent the company

                      born: 15.04.1973

 President of the Supervisory Board:

                      Dr. Martin Abend

                      D 01067 Dresden

                      born: 16.03.1963

 Vice-president of the Supervisory Board:

                      Carl Ferdinand Oetker

                      D 40210 Düsseldorf

                      born: 03.10.1972

 Member of the Supervisory Board:

                      Dieter Koch

                      D 24103 Kiel

                      born: 1936

                      Profession: Pharmacist

 Member of the Supervisory Board:

                      Pharm.-Rat. Constantin Meyer

                      Hinter den Gärten 31

                      D 30926 Seelze

                      born: 19.08.1942 in Schneidemühl/Pommern

                      Profession: Pharmacist

                      Marital status: married

 Member of the Supervisory Board:

                      Dr. K. F. Arnold Hertzsch

                      Bergahornweg 32

                      D 01328 Dresden

                      born: 05.05.1953

                      Profession: Pharmacist

                      Marital status: married

 Member of the Supervisory Board:

                      Dr. med. Eckhard Brüggemann

                      D 44623 Herne

                      Profession: Businessman

 Member of the Supervisory Board:

                      Dr. Ute Pantke

                      D 35435 Wettenberg

                      born: 23.06.1957

                      Profession: Businessman

 Representative of the Employees within the Supervisory Board:

                      Jens Steegers

                      D 61118 Bad Vilbel

                      Marital status: married

 Representative of the Employees within the Supervisory Board:

                      Halil Duru

                      D 60325 Frankfurt

 Proxy:

                      Lothar Guske

                      D 53424 Remagen

                      authorized to jointly represent the company

                      born: 15.02.1964

                      Marital status: married

 Proxy:

                      Anneliese Demberg

                      D 27793 Wildeshausen

                      authorized to jointly represent the company

                      born: 17.01.1953

 Proxy:

                      Lothar Kempf

                      D 63303 Dreieich

                      authorized to jointly represent the company

                      born: 23.12.1953

 Proxy:

                      Peter Majer

                      D 65719 Hofheim

                      authorized to jointly represent the company

                      born: 02.03.1966

                      Profession: Fully qualified merchant

 Proxy:

                      Ralf Christian Hutmann

                      D 61352 Bad Homburg

                      authorized to jointly represent the company

                      born: 08.07.1962

 Proxy:

                      Alice Moriz

                      D 89231 Neu-Ulm

                      authorized to jointly represent the company

                      born: 07.02.1967

 Proxy:

                      Frank Hans Seyler

                      D 61462 Königstein

                      authorized to jointly represent the company

                      born: 17.06.1961

                      Marital status: unknown

 Proxy:

                      Wolfram Heinisch

                      D 35423 Lich

                      authorized to jointly represent the company

                      born: 13.10.1955

 Proxy:

                      Dr. Manfred Anduleit

                      D 61276 Weilrod

                      authorized to jointly represent the company

                      born: 08.05.1972

 Proxy:

                      Luc Siegers

                      B  Grimbergen

                      authorized to jointly represent the company

                      born: 21.06.1953

                      Nationality: Belgian

 Proxy:

                      Angela Weißenberger

                      D 63165 Mühlheim

                      authorized to jointly represent the company

                      born: 12.07.1961

 Proxy:

                      Michael Mack

                      D 61118 Bad Vilbel

                      authorized to jointly represent the company

                      born: 14.06.1959

 Proxy:

                      Mechthild Moormann

                      Franz-Böres-Str. 2b

                      D 63500 Seligenstadt

                      authorized to jointly represent the company

                      born: 07.01.1967

 Proxy:

                      Christian Göllert

                      D 61273 Wehrheim

                      authorized to jointly represent the company

                      born: 20.04.1962

 Proxy:

                      Reiner Rebel

                      D 63065 Offenbach

                      authorized to jointly represent the company

                      born: 27.07.1966

 Proxy:

                      Dr. Johann Danklmaier

                      D 61118 Bad Vilbel

                      authorized to jointly represent the company

                      born: 31.03.1961

 Proxy:

                      Fritz Klöter

                      D 67547 Worms

                      authorized to jointly represent the company

                      born: 19.11.1957

 Proxy:

                      Dr. Friedericke Klein

                      D 60389 Frankfurt

                      authorized to jointly represent the company

                      born: 03.08.1957

 Proxy:

                      Silke Jockel

                      D 35423 Lich

                      authorized to jointly represent the company

                      born: 15.09.1967

 Proxy:

                      Adil Kachout

                      D 61462 Königstein

                      authorized to jointly represent the company

                      born: 15.09.1977

 Proxy:

                      Marco Gorgas

                      D 80331 München

                      authorized to jointly represent the company

                      born: 03.10.1970

 Proxy:

                      Andreas Kirberg

                      D 80331 München

                      authorized to jointly represent the company

                      born: 08.07.1967

 Proxy:

                      Dr. Senay Has

                      D 60306 Frankfurt

                      authorized to jointly represent the company

                      born: 17.08.1970

 Proxy:

                      Dr. Christoph Dengler

                      D 60306 Frankfurt

                      authorized to jointly represent the company

                      born: 08.12.1969

 Proxy:

                      Dr. Uwe Landvatter

                      D 60306 Frankfurt

                      authorized to jointly represent the company

                      born: 18.02.1973

 

 Further functions/participations of Helmut Kraft (Member of the

 Board of Directors)

 Member of the Supervisory Board:

                      BIOCEUTICALS Arzneimittel Aktiengesellschaft

                      Stadastr. 2-18

                      D 61118 Bad Vilbel

                      Legal form: Public limited company

                      Share capital:     EUR          1,300,000.00

                      Registered

                      on:         29.09.2000

                      Reg. data:  60313 Frankfurt, HRB 72513

 Proxy:

                      PHOENIX Pharmahandel GmbH & Co KG

                      Rahlau 88-90

                      D 22045 Hamburg

                      Legal form: Legally dependent establishment

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 13.10.2010 - 03.09.2013  Member of the Board of Directors

                          Dr. rer. nat. Axel Müller

                          D 56112 Lahnstein

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 20410   Manufactue of soap and detergents, cleaning and polishing

 preparations

21200   Manufacture of pharmaceutical preparations

4646    Wholesale of pharmaceutical, medical and orthpedic goods

7010    Activities of head offices

 

 

BRANCHES AND FACTORIES

 

 Works:

                      STADA Arzneimittel Aktiengesellschaft

                      Stadastr. 11

                      D 61197 Florstadt

 

 

 PARTICIPATIONS

 

 Shareholder:

                      Mobilat Produktions GmbH

                      Luitpoldstr. 1

                      D 85276 Pfaffenhofen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            256,000.00

                      Share:             EUR            256,000.00

                      Reg. data:  03.07.2009

                                  Local court 85049 Ingolstadt

                                  HRB 5193

 Shareholder:

                      STADAPHARM Gesellschaft mit beschränkter

                      Haftung

                      Stadastr. 2-18

                      D 61118 Bad Vilbel

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            154,000.00

                      Share:             EUR            154,000.00

                      Reg. data:  04.04.1972

                                  Local court 60313 Frankfurt

                                  HRB 71083

 Shareholder:

                      STADA GmbH

                      Stadastr. 2-18

                      D 61118 Bad Vilbel

                      Post Box:

                      12 60

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             78,000.00

                      Share:             EUR             78,000.00

                      Reg. data:  14.04.1988

                                  Local court 60313 Frankfurt

                                  HRB 71610

 Shareholder:

                      BEPHA Beteiligungsgesellschaft für

                      Pharmawerte mbH

                      Stadastr. 2-18

                      D 61118 Bad Vilbel

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             52,000.00

                      Share:             EUR             52,000.00

                      Reg. data:  22.10.1997

                                  Local court 60313 Frankfurt

                                  HRB 43917

 Shareholder:

                      STADA Pharma International GmbH

                      Stadastr. 2-18

                      D 61118 Bad Vilbel

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             26,000.00

                      Share:             EUR             26,000.00

                      Reg. data:  06.06.2005

                                  Local court 60313 Frankfurt

                                  HRB 74902

 Shareholder:

                      BIOCEUTICALS Arzneimittel Aktiengesellschaft

                      Stadastr. 2-18

                      D 61118 Bad Vilbel

                      Legal form: Public limited company

                      Company Status: active

                      Share capital:     EUR          1,300,000.00

                      Share: 15.860 %

                      Reg. data:  29.09.2000

                                  Local court 60313 Frankfurt

                                  HRB 72513

 

 

Payment experience

 

Slow but correct

 

 

Negative information

 

We have no negative information at hand.

 

 REAL ESTATE

 

 Type of ownership:         proprietor

 Share:                           100.00 %

 Address                       Stadastr. 2-18

                                    D 61118 Bad Vilbel

 Type of real estate: commercial premises

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 DEUTSCHE BANK FILIALE, 60254 FRANKFURT AM MAIN

 Sort. code: 50070010, Account no.: 096012000

 BIC: DEUTDEFFXXX, IBAN: DE13500700100096012000

 

 Further banks

 APOBANK, 60061 FRANKFURT AM MAIN

 Sort. code: 50090607, Account no.: 0001083627

 BIC: DAAEDED1007, IBAN: DE82300606010001083627

 POSTBANK, 60288 FRANKFURT AM MAIN

 Sort. code: 50010060, Account no.: 9218607

 BIC: PBNKDEFFXXX, IBAN: DE36500100600009218607

 

 

 FINANCIAL FIGURES

 

 Turnover:            2013               EUR        412,895,814.00

                      2014               EUR        420,259,916.00

 Profit:              2013               EUR        224,650,097.00

                      2014               EUR        -27,428,392.00

 further business figures:

 Equipment:                              EUR         12,386,358.00

 Ac/ts receivable:                       EUR        248,846,784.00

 Liabilities:                            EUR      1,664,839,073.00

 Employees:                                                  1,021

 - thereof permanent staff:                                  1,021

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                   29.83

 Liquidity ratio:                   0.15

 Return on total capital [%]:      -0.98

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 29.48

 Liquidity ratio:                   0.27

 Return on total capital [%]:       8.06

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 25.93

 Liquidity ratio:                   0.31

 Return on total capital [%]:       1.31

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 28.53

 Liquidity ratio:                   0.49

 Return on total capital [%]:       1.39

 

 

 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:      01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR      2,672,725,285.58

  Fixed assets                           EUR      2,302,890,710.81

   Intangible assets                     EUR        399,000,925.25

    Concessions, licences, rights        EUR        268,714,260.49

    Goodwill                             EUR         79,837,690.16

    Advance payments for intang. assets  EUR         50,448,974.60

   Tangible assets                       EUR         67,307,457.68

    Land / similar rights                EUR         42,171,236.35

    Plant / machinery                    EUR         11,794,647.32

    Other tangible assets / fixtures and

    fittings                             EUR         12,386,357.86

    Advance payments made / construction

    in progress                          EUR            955,216.15

   Financial assets                      EUR      1,836,582,327.88

    Shares in participations /

    subsidiaries and the like            EUR      1,288,737,200.75

     Shares in related companies         EUR      1,279,044,510.24

     Shares in investee companies        EUR          9,692,690.51

    Loans to participations /

    subsidiaries and the like            EUR        547,845,127.13

     Loans to related companies          EUR        544,525,127.13

     Loans to investee companies         EUR          3,320,000.00

  Current assets                         EUR        365,720,201.48

   Stocks                                EUR         66,576,972.93

    Raw materials, consumables and

    supplies                             EUR          8,162,159.21

    Finished goods / work in progress    EUR         57,535,411.37

    Advance payments made                EUR            879,402.35

   Accounts receivable                   EUR        248,846,784.34

    Trade debtors                        EUR          3,119,019.16

    Amounts due from related companies   EUR        207,653,417.45

    Amounts due from investee companies  EUR            308,736.60

    Other debtors and assets             EUR         37,765,611.13

   Liquid means                          EUR         50,296,444.21

  Remaining other assets                 EUR          4,114,373.29

   Accruals (assets)                     EUR          4,114,373.29

 

 LIABILITIES                             EUR      2,672,725,285.58

  Shareholders' equity                   EUR        853,314,100.86

   Capital                               EUR        157,395,849.00

    Subscribed capital (share capital)   EUR        157,629,420.00

    Other capital                        EUR           -233,571.00

   Reserves                              EUR        646,600,255.95

    Capital reserves                     EUR        495,744,898.97

    Retained earnings / revenue reserves EUR        150,855,356.98

   Balance sheet profit/loss (+/-)       EUR         49,317,995.91

    Balance sheet profit / loss          EUR         49,317,995.91

  Provisions                             EUR        154,572,111.49

   Pension provisions and comparable

   provisions                            EUR          6,928,299.46

   Provisions for taxes                  EUR          1,882,970.13

   Other / unspecified provisions        EUR        145,760,841.90

  Liabilities                            EUR      1,664,839,073.23

   Financial debts                       EUR      1,352,544,944.20

    Liabilities due to banks             EUR        652,544,944.20

    Loans / obligations / debentures     EUR        700,000,000.00

   Other liabilities                     EUR        312,294,129.03

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         29,920,541.76

    Liabililties due to related companiesEUR        250,129,806.59

    Unspecified other liabilities        EUR         32,243,780.68

     thereof liabilities from tax /

     financial authorities               EUR          1,449,535.12

     thereof liabilities from social

     security                            EUR                  0.00

 

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

 Code (HGB)

  Sales                                  EUR        420,259,915.92

  Inventory change + own costs (+/-)     EUR          1,253,608.27

   Inventory change (+/-)                EUR          1,253,608.27

  Other operating income                 EUR         87,229,663.37

  Cost of materials                      EUR        183,918,038.16

   Raw materials and supplies, purchased

   goods                                 EUR        183,918,038.16

  Gross result (+/-)                     EUR        324,825,149.40

  Staff expenses                         EUR         92,066,489.34

   Wages and salaries                    EUR         78,378,425.30

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         13,688,064.04

  Total depreciation                     EUR         81,369,067.54

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         81,369,067.54

  Other operating expenses               EUR        206,154,470.22

  Other operational income / expenses

  (+/-)                                  EUR         32,661,187.35

  Operating result from continuing

  operations                             EUR        -22,103,690.35

  Result from participating interests

  (+/-)                                  EUR         47,136,564.52

   Expenses / income from participations EUR         47,136,564.52

    Income from transfer of profits      EUR         24,624,770.76

    Income from related companies        EUR         22,511,793.76

  Interest result (+/-)                  EUR        -36,161,180.48

   Interest and similar income           EUR         18,421,205.01

    thereof from related companies       EUR         15,483,255.64

   Interest and similar expenses         EUR         54,582,385.49

    thereof paid to related companies    EUR            353,773.93

  Other financial result                 EUR        -14,360,000.00

   Depreciation on financial assets and

   marketable securities                 EUR         14,360,000.00

  Financial result (+/-)                 EUR         -3,384,615.96

  Result from ordinary operations (+/-)  EUR        -25,488,306.31

  Extraordinary expenses                 EUR          2,008,943.20

  Extraordinary result (+/-)             EUR         -2,008,943.20

  Income tax / refund of income tax (+/-)EUR            344,385.51

  Other taxes / refund of taxes          EUR           -275,528.01

  Tax (+/-)                              EUR             68,857.50

  Annual surplus / annual deficit        EUR        -27,428,392.01

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2013 - 31.12.2013

 

 ASSETS                                  EUR      2,885,664,271.19

  Fixed assets                           EUR      2,320,953,858.63

   Intangible assets                     EUR        449,395,302.61

    Concessions, licences, rights        EUR        304,188,450.66

    Goodwill                             EUR         94,503,919.37

    Advance payments for intang. assets  EUR         50,702,932.58

   Tangible assets                       EUR         71,270,861.12

    Land / similar rights                EUR         43,952,950.72

    Plant / machinery                    EUR         12,740,884.89

    Other tangible assets / fixtures and

    fittings                             EUR         13,662,451.93

    Advance payments made / construction

    in progress                          EUR            914,573.58

   Financial assets                      EUR      1,800,287,694.90

    Shares in participations /

    subsidiaries and the like            EUR      1,295,300,873.93

     Shares in related companies         EUR      1,285,452,183.42

     Shares in investee companies        EUR          9,848,690.51

    Loans to participations /

    subsidiaries and the like            EUR        504,986,820.97

     Loans to related companies          EUR        489,344,820.97

     Loans to investee companies         EUR         15,642,000.00

  Current assets                         EUR        559,821,698.79

   Stocks                                EUR         70,055,600.92

    Raw materials, consumables and

    supplies                             EUR          9,697,862.78

    Finished goods / work in progress    EUR         57,873,890.77

    Advance payments made                EUR          2,483,847.37

   Accounts receivable                   EUR        482,531,788.63

    Trade debtors                        EUR         41,514,640.73

    Amounts due from related companies   EUR        414,980,937.31

    Amounts due from investee companies  EUR            544,580.67

    Other debtors and assets             EUR         25,491,629.92

   Liquid means                          EUR          7,234,309.24

  Remaining other assets                 EUR          4,888,713.77

   Accruals (assets)                     EUR          4,888,713.77

 

 LIABILITIES                             EUR      2,885,664,271.19

  Shareholders' equity                   EUR        917,476,168.16

   Capital                               EUR        156,911,328.60

    Subscribed capital (share capital)   EUR        157,150,500.00

    Other capital                        EUR           -239,171.40

   Reserves                              EUR        643,986,582.42

    Capital reserves                     EUR        493,164,073.94

    Retained earnings / revenue reserves EUR        150,822,508.48

   Balance sheet profit/loss (+/-)       EUR        116,578,257.14

    Balance sheet profit / loss          EUR        116,578,257.14

  Provisions                             EUR        187,778,475.00

   Pension provisions and comparable

   provisions                            EUR         25,542,154.03

   Provisions for taxes                  EUR          2,525,793.51

   Other / unspecified provisions        EUR        159,710,527.46

  Liabilities                            EUR      1,780,409,628.03

   Financial debts                       EUR      1,396,651,162.64

    Liabilities due to banks             EUR        696,651,162.64

    Loans / obligations / debentures     EUR        700,000,000.00

   Other liabilities                     EUR        383,758,465.39

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         33,043,530.14

    Liabililties due to related companiesEUR        312,075,436.46

    Unspecified other liabilities        EUR         38,639,498.79

     thereof liabilities from tax /

     financial authorities               EUR         10,741,686.96

  Guarantees and other commitments       EUR        208,544,310.11

   Guarantees / warranties               EUR         52,166,745.41

    Guarantees                           EUR         52,166,745.41

   Other guarantees and other commitmentsEUR        156,377,564.70

 

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

 Code (HGB)

  Sales                                  EUR        412,895,813.51

  Inventory change + own costs (+/-)     EUR         -5,194,393.01

   Inventory change (+/-)                EUR         -5,194,393.01

  Other operating income                 EUR        365,233,179.85

  Cost of materials                      EUR        177,514,648.49

   Raw materials and supplies, purchased

   goods                                 EUR        177,514,648.49

  Gross result (+/-)                     EUR        595,419,951.86

  Staff expenses                         EUR         88,239,622.31

   Wages and salaries                    EUR         76,111,354.15

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         12,128,268.16

  Total depreciation                     EUR         59,551,856.86

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         59,551,856.86

  Other operating expenses               EUR        230,443,882.21

  Operating result from continuing

  operations                             EUR        217,184,590.48

  Result from participating interests

  (+/-)                                  EUR         88,146,968.22

   Expenses / income from participations EUR         88,146,968.22

    Income from transfer of profits      EUR         10,855,738.26

    Income from related companies        EUR         77,291,229.96

  Interest result (+/-)                  EUR        -40,718,854.26

   Interest and similar income           EUR         20,773,208.47

    thereof from related companies       EUR         16,905,125.96

   Interest and similar expenses         EUR         61,492,062.73

    thereof paid to related companies    EUR            260,040.75

  Other financial result                 EUR        -39,606,770.02

   Depreciation on financial assets and

   marketable securities                 EUR         47,024,769.48

   Other financial income                EUR          7,417,999.46

  Financial result (+/-)                 EUR          7,821,343.94

  Result from ordinary operations (+/-)  EUR        225,005,934.42

  Extraordinary expenses                 EUR            243,480.00

  Extraordinary result (+/-)             EUR           -243,480.00

  Income tax / refund of income tax (+/-)EUR            -47,518.75

  Other taxes / refund of taxes          EUR            -64,838.19

  Tax (+/-)                              EUR           -112,356.94

  Annual surplus / annual deficit        EUR        224,650,097.48

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.93

UK Pound

1

Rs.99.82

Euro

1

Rs.70.05

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TRU

 

               

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.