|
Report No. : |
334994 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SICK AG |
|
|
|
|
Registered Office : |
Erwin-Sick-Str. 1 D 79183 Waldkirch |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.09.1946 |
|
|
|
|
Com. Reg. No.: |
HRB 280355 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
Manufacture of
instruments and appliances for measuring, testing and navigation |
|
|
|
|
No. of Employee : |
2,942 |
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 – 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 |
SICK AG
Company Status: active
Erwin-Sick-Str. 1
D
79183 Waldkirch
Telephone:07681/202-0
Telefax: 07681/3863
Homepage: www.sick.com
E-mail: info@sick.de
VAT no.: DE141989858
Business relations are
permissible.
LEGAL FORM Public
limited company
Date of foundation: 26.09.1946
Registered on: 25.06.1996
Commercial Register: Local court 79098 Freiburg
under: HRB
280355
EUR 26,405,400.00
President of the Board of
Directors:
Dr.
Robert Bauer
D
79312 Emmendingen
authorized to jointly represent the company
born:
02.04.1960
Member of the Board of
Directors:
Reinhard Bösl
D
92711 Parkstein
born:
11.07.1958
Profession: Fully qualified computer
scientist
Marital status: married
Member of the Board of
Directors:
Dr.
Martin Krämer
D
79183 Waldkirch
born:
20.09.1960
Member of the Board of
Directors:
Markus Vatter
D
88212 Ravensburg
born:
29.04.1966
Member of the Board of
Directors:
Dr.
Mats Gökstorp
D
79183 Waldkirch
born:
08.03.1965
President of the
Supervisory Board:
Klaus
Bukenberger
Spannstattstr. 50
D
77773 Schenkenzell
born:
25.12.1957
Profession: Fully qualified economic
engineer
Member of the Supervisory
Board:
Gisela
Sick
D
79183 Waldkirch
born:
08.11.1922
née:
Neumann
Member of the Supervisory
Board:
Prof.Dr. Horst Wildemann
Oberföhringer Str. 11
D
81925 München
born:
04.01.1942
Profession: University professor
Marital status: married
Member of the Supervisory
Board:
Roland
Schiller
D
79856 Hinterzarten
born:
20.04.1959
Member of the Supervisory
Board:
Prof.
Dr. Mark K. Binz
Löwenstr.
110
D
70597 Stuttgart
born:
10.07.1949
Profession: Solicitor
Marital status: married
Member of the Supervisory
Board:
Renate
Sick-Glaser
Bifänge 68
D
79111 Freiburg
born:
31.07.1946
Member of the Supervisory
Board:
Franz
Bausch
D
79856 Hinterzarten
Member of the Supervisory
Board:
Dr.
Matthias Müller
D
38100 Braunschweig
born:
30.06.1957
Member of the Supervisory
Board:
Hermann Spieß
Eichendorffstr. 15
D
79206 Breisach
born:
06.11.1955
Member of the Supervisory
Board:
Roberto Hernandez
D
79183 Waldkirch
Member of the Supervisory
Board:
Ronaldo Schmitz
D
60306 Frankfurt
Member of the Supervisory
Board:
Engelbert Herbstritt
D
79183 Waldkirch
Marital status: unknown
Member of the Supervisory
Board:
Dr.
Matthias Müller
D
38100 Braunschweig
Marital status: unknown
Member of the Supervisory
Board:
Gabriele Pontiggia
D
79297 Winden
Marital status: unknown
Proxy:
Roland
Schiller
D
79856 Hinterzarten
authorized to jointly represent the company
born:
20.04.1959
Proxy:
Claus Melder
D
63773 Goldbach
authorized to jointly represent the company
born:
14.05.1960
Proxy:
Joachim Leins
D
22889 Tangstedt
authorized to jointly represent the
company
born:
17.04.1956
Proxy:
Peter
Löhnert
D
79183 Waldkirch
authorized to jointly represent the company
born: 27.12.1962
Marital status: unknown
Proxy:
Dr.
Georg Plasberg
D
79183 Waldkirch
authorized to jointly represent the company
born:
01.09.1962
Proxy:
Wolfgang Günther Walter
D
79183 Waldkirch
authorized to jointly represent the company
born:
24.10.1955
Proxy:
Thomas
Blümcke
D 79183 Waldkirch
authorized to jointly represent the company
born:
21.04.1958
Proxy:
Wirnt
Galster
D
69115 Heidelberg
authorized to jointly represent the company
born:
27.06.1963
Proxy:
Thomas
Henkel
D
79183 Waldkirch
authorized to jointly represent the company
born:
27.05.1958
Proxy:
Thomas
Peter Grützmacher
D
88690 Uhldingen-Mühlhofen
authorized to jointly represent the company
born:
31.07.1957
Proxy:
Dr.
Bernd Cordes
D
79312 Emmendingen
authorized to jointly represent the company
born:
07.07.1956
Proxy:
Berthold Ketterer
D
79098 Freiburg
authorized to jointly represent the
company
born:
19.11.1958
Proxy:
Christoph Ludewigt
D
79183 Waldkirch
authorized to jointly represent the company
born: 01.04.1960
Proxy:
Michael Müller
D
79183 Waldkirch
authorized to jointly represent the company
born:
18.05.1966
Proxy:
Birgit
Irmgard Knobloch
D
79215 Elzach
authorized to jointly represent the company
born:
06.05.1966
Proxy:
Matthias Elbert
D
79215 Elzach
authorized to jointly represent the
company
born:
16.05.1964
Proxy:
Hubertus Dreher
Kirchhalde 2
D
79215 Elzach
authorized to jointly represent the company
born:
05.11.1961
Proxy:
Christoph Müller
Weihermatten 3
D
79211 Denzlingen
authorized to jointly represent the company
born: 15.05.1972
Proxy:
Thomas
Franz
Im
Eichwald 22
D
79350 Sexau
authorized to jointly represent the company
born:
22.12.1966
Proxy:
Gunther Heiß
D
20095 Hamburg
authorized to jointly represent the company
born:
14.08.1963
Proxy:
Dr.
Michael Overdick
D 79312 Emmendingen
authorized to jointly represent the company
born:
03.03.1969
Proxy:
Klaus
Halder
D
79098 Freiburg
authorized to jointly represent the company
born:
31.03.1967
Proxy:
Frank
Hehl
D
79686 Hasel
authorized to jointly represent the company
born:
27.03.1961
Proxy:
Dr. Michael Markus
D
79183 Waldkirch
authorized to jointly represent the company
born:
12.05.1962
Proxy:
Stefan
Sieben
D
79098 Freiburg
authorized to jointly represent the company
born:
04.04.1973
Proxy:
Sabine
Oxenknecht
D
79286 Glottertal
authorized to jointly represent the company
born:
10.05.1963
Proxy:
Bernhard Füger
D
77652 Offenburg
authorized to jointly represent the company
born:
14.03.1962
Proxy:
Zeljko Jaksic
D
79312 Emmendingen
authorized to jointly represent the company
born:
23.09.1961
Proxy:
Sandra
Siefer
D
79098 Freiburg
authorized to jointly represent the company
born:
29.03.1973
Proxy:
Gabriele Karg
D
79098 Freiburg
authorized to jointly represent the company
born: 12.05.1973
Proxy:
Sascha
Niederhagen
D
79112 Freiburg
authorized to jointly represent the company
born:
20.10.1976
Proxy:
Cornelia Reinecke
D
79312 Emmendingen
authorized to jointly represent the company
born:
11.06.1969
Proxy:
Thomas
Fuchs
D
79194 Gundelfingen
authorized to jointly
represent the company
born:
29.11.1966
Proxy:
Lothar
Schuckert
D
79098 Freiburg
authorized to jointly represent the company
born:
02.03.1957
Proxy:
Bernd
von Rosenberger
USA Minneapolis
authorized to jointly represent the company
born:
23.10.1973
Nationality: USA
Proxy:
Markus
Scaglioso
D
79098 Freiburg
authorized to jointly represent the company
born:
17.08.1974
Proxy:
Volker
Zäh
D 79211 Denzlingen
authorized to jointly represent the company
born:
19.08.1967
Further functions/participations of Dr. Robert
Bauer (President
of the Board of Directors)
Manager:
SICK Management GmbH
Erwin-Sick-Str. 1
D
79183 Waldkirch
Legal
form: Private limited company
Share
capital: EUR 126,000.00
Registered
on: 15.02.2007
Reg.
data: 79098 Freiburg, HRB 700814
Further functions/participations of Dr. Martin
Krämer (Member of
the Board of Directors)
Free-lance partner:
ELC
Rechtsanwälte Dunkel Krämer Schällig
Partnerschaft mbB
Basler
Str. 115
D
79115 Freiburg
Legal
form: Partnership of free-lance
professionals
Registered
on: 15.08.2008
Reg.
data: 79098 Freiburg, 700053
Manager:
SICK
Management GmbH
Erwin-Sick-Str. 1
D 79183 Waldkirch
Legal
form: Private limited company
Share
capital: EUR 126,000.00
Registered
on: 15.02.2007
Reg.
data: 79098 Freiburg, HRB 700814
Manager:
SICK
Automatisierung International GmbH
Erwin-Sick-Str. 1
D
79183 Waldkirch
Legal
form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 10.05.2005
Reg.
data: 79098 Freiburg, HRB 280527
01.12.1956 -
25.06.1996 Erwin Sick Gesellschaft mit
beschränkter
Haftung Optik-Elektronik
Erwin-Sick-Str. 1
D
79183 Waldkirch
Private limited company
21.03.2011 -
12.01.2015 Member of the Supervisory
Board
Gustav Kasper
D
79350 Sexau
21.03.2011 -
12.01.2015 Member of the Supervisory
Board
Marion Bentin
D 79183 Waldkirch
25.07.2006 -
02.05.2013 Member of the Board of
Directors
Markus Paschmann
D
79312 Emmendingen
Sectors
26512 Manufacture of instruments and appliances
for measuring,
testing and navigation
96090 Other service
activities n. e. c.
Branch:
SICK
AG
Nimburger Str. 11
D 79276
Reute
TEL.:
07641/469-0
Branch:
SICK
AG
Schiessstr. 56
D
40549 Düsseldorf
TEL.:
0211/5301-0
Shareholder:
SICK Vertriebs-GmbH
Willstätterstr. 30
D
40549 Düsseldorf
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 3,000,000.00
Share: EUR 3,000,000.00
Reg.
data: 24.11.2004
Local court 40227 Düsseldorf
HRB 50819
Shareholder:
SICK Engineering GmbH
Bergener Ring 27
D
01458 Ottendorf-Okrilla
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 127,822.97
Share: EUR 127,822.97
Reg.
data: 10.02.1992
Local court 01069 Dresden
HRB 3435
Shareholder:
SICK
Management GmbH
Erwin-Sick-Str. 1
D
79183 Waldkirch
Legal
form: Private limited company
Company Status: active
Share capital: EUR 126,000.00
Share: EUR 126,000.00
Reg.
data: 15.02.2007
Local court 79098 Freiburg
HRB 700814
Shareholder:
SICK
STEGMANN GmbH
Dürrheimer Str. 36
D
78166 Donaueschingen
Legal
form: Private limited company
Company
Status: active
Share
capital: EUR 1,000,000.00
Share: EUR 60,000.00
Reg.
data: 16.08.2004
Local court 79098 Freiburg
HRB 611827
Shareholder:
SICK
Automatisierung International GmbH
Erwin-Sick-Str. 1
D
79183 Waldkirch
Legal
form: Private limited company
Company Status: active
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Reg.
data: 10.05.2005
Local court 79098 Freiburg
HRB 280527
Payment experience: within
agreed terms
Balance sheet year: 2013
Type of ownership: Tenant
Address Nimburger Str. 11
D
79276 Reute
Type of ownership: Tenant
Address Schiessstr. 56
D
40549 Düsseldorf
Type of ownership: proprietor
Share: 100.00 %
Address Erwin-Sick-Str. 1
D
79183 Waldkirch
Land register documents
were not available.
Principal bank
SPARKASSE
FREIBURG-NÖRDLICHER BREISGAU, 79183 WALDKIRCH, BREISGAU
Sort. code: 68050101,
Account no.: 23018835
BIC: FRSPDE66XXX, IBAN:
DE91680501010023018835
Further bank
DEUTSCHE BANK, 79004
FREIBURG IM BREISGAU
Sort. code: 68070030,
Account no.: 123666000
BIC: DEUTDE6FXXX, IBAN:
DE54680700300123666000
Turnover: 2013 EUR 655,984,000.00
2014 EUR 700,000,000.00
Expected turnover: EUR 750,000,000.00
Profit: 2013 EUR 49,711,000.00
further business figures:
Equipment:
EUR 103,335,000.00
Ac/ts receivable: EUR 167,156,000.00
Liabilities: EUR 159,133,000.00
Employees:
2,942
-
thereof permanent staff: 2,757
-
Trainees:
185
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 50.21
Liquidity ratio: 1.08
Return on total capital [%]: 10.85
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 48.86
Liquidity ratio: 1.00
Return on total capital [%]: 11.64
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 46.30
Liquidity ratio: 1.00
Return on total capital [%]: 7.36
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 45.59
Liquidity ratio: 1.11
Return on total capital [%]: 11.79
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: 01.01.2013 - 31.12.2013
ASSETS EUR 464,120,000.00
Fixed assets
EUR 195,227,000.00
Intangible assets
EUR 11,898,000.00
Tangible assets
EUR 103,335,000.00
Financial assets
EUR 79,994,000.00
Current assets
EUR 267,316,000.00
Stocks EUR 95,821,000.00
Accounts receivable
EUR 167,156,000.00
Other debtors and assets
EUR 167,156,000.00
Liquid means
EUR 4,339,000.00
Remaining other assets
EUR 1,577,000.00
Accruals (assets)
EUR 1,577,000.00
LIABILITIES EUR 464,120,000.00
Shareholders' equity
EUR 235,941,000.00
Capital EUR 26,204,000.00
Subscribed capital (share capital)
EUR 26,405,000.00
Other capital
EUR -201,000.00
Reserves
EUR 139,265,000.00
Capital reserves
EUR 22,119,000.00
Retained earnings / revenue reserves EUR 117,146,000.00
Balance sheet profit/loss (+/-)
EUR 70,472,000.00
Balance sheet profit / loss
EUR 70,472,000.00
Items between shareholders' equity and
debt capital
EUR 85,000.00
Allowances / bonuses
EUR 85,000.00
Provisions
EUR 68,961,000.00
Liabilities
EUR 159,133,000.00
Guarantees and other commitments
EUR 19,102,000.00
Guarantees / warranties
EUR 19,102,000.00
Guarantees
EUR 19,102,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 655,984,000.00
Inventory change + own costs (+/-)
EUR 6,706,000.00
Inventory change (+/-)
EUR 1,546,000.00
Capitalised own costs
EUR 5,160,000.00
Other operating income
EUR 48,116,000.00
Cost of materials
EUR 336,855,000.00
Gross result (+/-)
EUR 373,951,000.00
Staff expenses
EUR 209,244,000.00
Total depreciation
EUR 19,966,000.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 19,966,000.00
Other operating expenses
EUR 148,671,000.00
Operating result from continuing
operations
EUR -3,930,000.00
Financial result (+/-)
EUR 38,526,000.00
Result from ordinary operations (+/-)
EUR 34,596,000.00
Extraordinary result (+/-)
EUR 20,763,000.00
Income tax / refund of income tax (+/-)EUR -5,648,000.00
Tax
(+/-)
EUR -5,648,000.00
Annual surplus / annual deficit
EUR 49,711,000.00
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 411,382,000.00
Fixed assets
EUR 173,166,000.00
Intangible assets
EUR 9,230,000.00
Tangible assets
EUR 86,644,000.00
Financial assets
EUR 77,292,000.00
Current assets
EUR 237,111,000.00
Stocks
EUR 85,451,000.00
Accounts receivable
EUR 141,095,000.00
Other debtors and assets
EUR 141,095,000.00
Liquid means
EUR 10,565,000.00
Remaining other assets
EUR 1,105,000.00
Accruals (assets) EUR 1,105,000.00
LIABILITIES EUR 411,382,000.00
Shareholders' equity
EUR 203,322,000.00
Capital
EUR 26,206,000.00
Subscribed capital (share capital)
EUR 26,405,000.00
Other capital
EUR -199,000.00
Reserves
EUR 114,322,000.00
Capital reserves
EUR 22,094,000.00
Retained earnings / revenue reserves EUR 92,228,000.00
Balance sheet profit/loss (+/-)
EUR 62,794,000.00
Balance sheet profit / loss
EUR 62,794,000.00
Items between shareholders' equity and
debt capital EUR 101,000.00
Allowances / bonuses
EUR 101,000.00
Provisions
EUR 56,976,000.00
Liabilities
EUR 150,983,000.00
Other liabilities
EUR 150,983,000.00
Unspecified other liabilities
EUR 150,983,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 543,073,000.00
Inventory change + own costs (+/-)
EUR 2,269,000.00
Inventory change (+/-)
EUR -2,871,000.00
Capitalised own costs
EUR 5,140,000.00
Other operating income
EUR 49,956,000.00
Cost of materials
EUR 285,118,000.00
Gross result (+/-)
EUR 310,180,000.00
Staff expenses
EUR 168,483,000.00
Total depreciation EUR 15,639,000.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 15,639,000.00
Other operating expenses
EUR 104,294,000.00
Operating
result from continuing
operations
EUR 21,764,000.00
Financial result (+/-)
EUR 31,256,000.00
Result from ordinary operations (+/-)
EUR 53,020,000.00
Extraordinary result (+/-)
EUR -522,000.00
Income tax / refund of income tax (+/-)EUR -5,139,000.00
Tax
(+/-)
EUR -5,139,000.00
Annual surplus / annual deficit
EUR 47,359,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.