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Report No. : |
354030 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DÜRKOPP ADLER AKTIENGESELLSCHAFT |
|
|
|
|
Registered Office : |
Potsdamer Str. 190, D 33719 Bielefeld, Post
Box:17 03 51, D 33703 Bielefeld |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Year of Establishment : |
1860 |
|
|
|
|
Com. Reg. No.: |
HRB 7042 |
|
|
|
|
Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
Manufacture of Machinery for
Textile, Apparel and Leather Production. |
|
|
|
|
No. of Employees : |
244 |
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 : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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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 – 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 |
DÜRKOPP
ADLER AKTIENGESELLSCHAFT
Company Status: Active
Potsdamer Str. 190
D 33719 Bielefeld
Post Box:
17 03 51, D 33703
Bielefeld
Telephone:0521/925-00
Telefax: 0521/925-2646
Homepage: www.duerkopp-adler.com
E-mail: info@duerkopp-adler.com
VAT no.: DE811161740
Tax ID number: 349/5712/0753
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 1860
Registered on: 09.12.1985
Commercial Register: Local court 33602 Bielefeld
under: HRB
7042
EUR
20,962,967.13
The company is listed on the stock market.
Shareholder:
ShangGong (Europe)
Holding Corp. GmbH
Potsdamer Str. 190
D 33719 Bielefeld
Legal form: Private
limited company
Share capital: EUR
12,500,000.00
Share: 94.010 %
Registered on: 08.06.2006
Reg. data: 33602
Bielefeld, HRB 38687
Member of the Board of Directors:
Dietrich Eickhoff
D 33602 Bielefeld
authorized to jointly
represent the company
born: 07.04.1958
Member of the Board of Directors:
Ying Zheng
RC
Shanghai
authorized to jointly
represent the company
born: 05.03.1965
Nationality: Chinese
President of the Supervisory Board:
Min Zhang
RC Shanghai
Nationality: Chinese
Marital status: unknown
Vice-president of the Supervisory Board:
Haixiang Fang
D 33719 Bielefeld
Marital status: unknown
Member of the Supervisory Board:
Xiaolun Heijenga
D 65760 Eschborn
born: 10.02.1967
née: Fei
Profession: Tax adviser
Marital status: married
Member of the Supervisory Board:
Klaus-Jürgen Stark
D 33602 Bielefeld
Member of the Supervisory Board:
Ulrike Prante
D 33602 Bielefeld
Marital status:
unknown
Member of the Supervisory Board:
Zhiqin Jiang
RC - Suzhou
Nationality: Chinese
Marital status: unknown
Proxy:
Frank-Michael Kuhnt
D 33602 Bielefeld
authorized to jointly
represent the company
born: 02.12.1958
Profession: Businessman
Proxy:
Thomas Vogel
D 59269 Beckum
authorized to jointly
represent the company
born: 17.07.1973
Proxy:
Bernd Bräuer
D 49324 Melle
authorized to jointly
represent the company
born: 18.04.1961
Further functions/participations of Dietrich
Eickhoff (Member of
the
Board of Directors)
Manager:
ShangGong (Europe)
Holding Corp. GmbH
Potsdamer Str. 190
D 33719 Bielefeld
Legal form: Private
limited company
Share capital: EUR
12,500,000.00
Registered
on: 08.06.2006
Reg. data: 33602 Bielefeld, HRB 38687
Further functions/participations of Ying Zheng
(Member of the
Board of Directors)
Manager:
Dürkopp Adler Industrial
Services GmbH
Potsdamer Str. 190
D 33719 Bielefeld
Legal form: Private
limited company
Share capital: EUR 102,258.38
Registered
on: 17.11.1977
Reg. data: 33602 Bielefeld, HRB 30678
Manager:
ShangGong (Europe)
Holding Corp. GmbH
Potsdamer Str. 190
D 33719 Bielefeld
Legal form: Private
limited company
Share capital: EUR
12,500,000.00
Registered
on: 08.06.2006
Reg. data: 33602 Bielefeld, HRB 38687
Main industrial sector
28940
Manufacture of machinery for textile, apparel and leather production
Secondary industrial sector
28290
Manufacture of other general-purpose machinery
Works:
Dürkopp Adler
Aktiengesellschaft
Richtweg 41
D 90530 Wendelstein
Shareholder:
Dürkopp Adler Industrial
Services GmbH
Potsdamer Str. 190
D 33719 Bielefeld
Legal form: Private
limited company
Company Status: active
Share capital: EUR 102,258.38
Share: EUR 102,258.38
Reg. data: 17.11.1977
Local court
33602 Bielefeld
HRB 30678
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2014
PMI: No significant / relevant payment
experience
information pertaining to
the company
inquired upon is shown in
the Deutscher
Debitoren Monitor
(DDMonitor).
Type of ownership: proprietor
Share: 100.00 %
Address Potsdamer Str. 190
D 33719 Bielefeld
Land
register documents were not available.
COMMERZBANK, 33596 BIELEFELD
Sort. code: 48040035, Account no.: 762693000
BIC: COBADEFFXXX, IBAN: DE90480400350762693000
DEUTSCHE BANK, 33501 BIELEFELD
Sort. code: 48070020, Account no.: 20839700
BIC: DEUTDE3BXXX, IBAN: DE69480700200020839700
UNICREDIT BANK - HYPOVEREINSBANK, 33505
BIELEFELD
Sort. code: 48020086
BIC: HYVEDEMM344, IBAN: DE24480200860003107396
LANDESBANK HESSEN-THÜRINGEN GIROZENTRALE NL.
DÜSSELDORF, 40019
DÜSSELDORF
Sort. code: 30050000
BIC: WELADEDDXXX, IBAN: DE85300500000001228311
Turnover: 2013 EUR 79,261,000.00
2014 EUR 92,386,000.00
Profit: 2013 EUR 7,573,000.00
2014 EUR 11,004,000.00
further business figures:
Ac/ts receivable: EUR 24,059,000.00
Liabilities: EUR 18,518,000.00
Employees:
244
-
thereof permanent staff: 244
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 42.37
Liquidity ratio: 10.00
Return on total capital [%]: 10.54
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 35.58
Liquidity ratio: 6.03
Return on total capital [%]: 8.07
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 44.56
Liquidity ratio: 10.00
Return on total capital [%]: 7.93
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 23.88
Liquidity ratio: 1.30
Return on total capital [%]: 3.65
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
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2014 - 31.12.2014
ASSETS EUR 105,359,000.00
Fixed assets EUR 39,725,000.00
Intangible assets
EUR 1,841,000.00
Tangible assets
EUR 7,363,000.00
Financial assets
EUR 30,521,000.00
Other
/ unspecified financial assets EUR
30,521,000.00
Current assets
EUR 65,634,000.00
Stocks
EUR 14,031,000.00
Accounts receivable
EUR 24,059,000.00
Trade debtors
EUR 9,558,000.00
Amounts due from related companies
EUR 14,273,000.00
Other debtors and assets
EUR 228,000.00
Liquid means
EUR 27,544,000.00
LIABILITIES EUR 105,359,000.00
Shareholders' equity
EUR 45,172,000.00
Capital
EUR 20,963,000.00
Subscribed capital (share capital)
EUR 20,963,000.00
Reserves
EUR 10,208,000.00
Capital reserves
EUR 8,112,000.00
Retained earnings / revenue reserves EUR 2,096,000.00
Balance sheet profit/loss (+/-)
EUR 14,001,000.00
Balance sheet profit / loss
EUR 14,001,000.00
Provisions
EUR 41,669,000.00
Pension provisions and comparable
provisions
EUR 29,463,000.00
Provisions for taxes
EUR 6,639,000.00
Other / unspecified provisions
EUR 5,567,000.00
Liabilities
EUR 18,518,000.00
Financial debts EUR 9,480,000.00
Other liabilities
EUR 9,038,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,847,000.00
Liabilities from received advance
payments EUR 138,000.00
Liabililties due to related companiesEUR 6,247,000.00
Unspecified other liabilities
EUR 806,000.00
PROFIT AND LOSS ACCOUNT (cost of sales method)
according to Comm.
Code
(HGB)
Sales
EUR 92,386,000.00
Manufacturing costs
EUR 53,335,000.00
Gross result on sales
EUR 39,051,000.00
Research and development costs EUR 5,782,000.00
Other operating income
EUR 4,424,000.00
Other operating expenses
EUR 19,795,000.00
Operating result from continuing
operations
EUR 17,898,000.00
Interest result (+/-)
EUR -1,588,000.00
Financial result (+/-)
EUR -1,588,000.00
Result from ordinary operations (+/-)
EUR 16,310,000.00
Income tax / refund of income tax (+/-)EUR -5,306,000.00
Tax
(+/-)
EUR -5,306,000.00
Annual surplus / annual deficit
EUR 11,004,000.00
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 94,631,000.00
Fixed assets
EUR 39,410,000.00
Intangible assets EUR 1,543,000.00
Tangible assets
EUR 7,310,000.00
Financial assets
EUR 30,557,000.00
Other / unspecified financial assets EUR 30,557,000.00
Current assets EUR 55,221,000.00
Stocks
EUR 14,122,000.00
Accounts receivable
EUR 18,454,000.00
Trade debtors
EUR 5,718,000.00
Amounts due from related companies
EUR 12,653,000.00
Other debtors and assets
EUR 83,000.00
Investments in current assets
EUR 4,999,000.00
Other investments
EUR 4,999,000.00
Liquid means
EUR 17,646,000.00
LIABILITIES EUR 94,631,000.00
Shareholders' equity
EUR 34,168,000.00
Capital
EUR 20,963,000.00
Subscribed capital (share capital)
EUR 20,963,000.00
Reserves
EUR 10,208,000.00
Capital reserves
EUR 8,112,000.00
Retained earnings / revenue reserves EUR 2,096,000.00
Balance sheet profit/loss (+/-)
EUR 2,997,000.00
Balance sheet profit / loss
EUR 2,997,000.00
Provisions
EUR 39,757,000.00
Pension provisions and comparable
provisions
EUR 31,224,000.00
Provisions for taxes
EUR 2,962,000.00
Other / unspecified provisions
EUR 5,571,000.00
Liabilities
EUR 20,706,000.00
Financial debts
EUR 12,232,000.00
Other liabilities
EUR 8,474,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 824,000.00
Liabilities from received advance
payments
EUR 215,000.00
Liabililties due to related companiesEUR 6,843,000.00
Unspecified other liabilities
EUR 592,000.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales
EUR 79,261,000.00
Manufacturing costs
EUR 48,143,000.00
Gross result on sales
EUR 31,118,000.00
Research and development costs
EUR 5,245,000.00
Other operating income
EUR 4,332,000.00
Other operating expenses
EUR 17,734,000.00
Operating result from continuing
operations
EUR 12,471,000.00
Result from participating interests
(+/-)
EUR 1,130,000.00
Interest result (+/-)
EUR -1,706,000.00
Other financial result
EUR -1,368,000.00
Depreciation on financial assets and
marketable securities
EUR 1,368,000.00
Financial result (+/-)
EUR -1,944,000.00
Result
from ordinary operations (+/-) EUR 10,527,000.00
Income tax / refund of income tax (+/-)EUR -2,954,000.00
Tax
(+/-)
EUR -2,954,000.00
Annual surplus / annual deficit
EUR 7,573,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.67.04 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.73.93 |
|
EUR |
1 |
Rs.73.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.