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Report No. : |
354176 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
WITTE PUMPS & TECHNOLOGY GMBH |
|
|
|
|
Registered Office : |
Lise-Meitner-Allee 20, D 25436 Tornesch |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
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Date of Incorporation : |
14.07.2004 |
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|
|
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Com. Reg. No.: |
HRB 2426 EL |
|
|
|
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Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture
of other special-purpose machinery ·
Wholesale of
other machinery |
|
|
|
|
No. of Employees : |
45 |
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 |
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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 |
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Restricted |
C2 |
|
Off-credit |
D |
GERMANY - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in
PPP terms and Europe's largest - is a leading exporter of machinery, vehicles,
chemicals, and household equipment and benefits from a highly skilled labor
force. Like its Western European neighbors, Germany faces significant
demographic challenges to sustained long-term growth. Low fertility rates and
declining net immigration are increasing pressure on the country's social
welfare system and necessitate structural reforms. Reforms launched by the
government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to
address chronically high unemployment and low average growth, contributed to
strong growth and falling unemployment. These advances, as well as a government
subsidized, reduced working hour scheme, help explain the relatively modest increase
in unemployment during the 2008-09 recession - the deepest since World War II -
and its decrease to 5.2% 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 |
WITTE PUMPS & TECHNOLOGY GMBH
Company
Status: active
Lise-Meitner-Allee 20
D 25436 Tornesch
Telephone:04120/70659-0
Telefax:
04120/70659-49
Homepage: www.witte-pumps.de
E-mail:
info@witte-pumps.de
VAT
no.: DE814045417
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 14.07.2004
Begin of business
activities: 14.07.2004
Shareholders'
agreement: 14.07.2004
Registered on: 29.07.2004
Commercial Register: Local court 25421
Pinneberg
under: HRB 2426 EL
Share capital: EUR 200,000.00
Shareholder:
Dr. Sven Wieczorek
Herwigredder 80
D 22559 Hamburg
born: 28.01.1966
Share: EUR 200,000.00
Manager:
Dr. Sven Wieczorek
Herwigredder 80
D 22559 Hamburg
born: 28.01.1966
Profession: Businessman
Marital status: unknown
Manager:
Mario Göpfert
D 25482 Appen
having sole power of
representation
born: 15.11.1963
Proxy:
Werner Heins
D 25373 Ellerhoop
authorized to jointly
represent the company
born: 12.01.1958
Further functions/participations of Dr. Sven
Wieczorek (Manager)
Shareholder:
Fienemann TORPEDO GmbH
Friedrich-List-Str. 9
D 25451 Quickborn
Legal form: Private
limited company
Share capital: EUR 100,000.00
Share: EUR 100,000.00
Registered
on: 06.12.2011
Reg. data: 25421 Pinneberg, HRB 9651 PI
Manager:
Fienemann TORPEDO GmbH
Friedrich-List-Str. 9
D 25451 Quickborn
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 06.12.2011
Reg. data: 25421 Pinneberg, HRB 9651 PI
14.07.2004 - 21.11.2005 WITTE PUMPS AND TECHNOLOGY GMBH
Esinger Steinweg 44a
D 25436 Uetersen
Private limited
company
21.11.2005
- 15.06.2014 Witte Pumps & Technology GmbH
Esinger Steinweg 44a
D 25436 Uetersen
Private limited
company
Main industrial sector
28990
Manufacture of other special-purpose machinery n.e.c.
46692
Wholesale of other machinery
Payment experience: within agreed terms
Negative information: We have no negative
information at hand.
Balance sheet year: 2013
PMI: No significant / relevant payment
experience
information pertaining to
the company
inquired upon is shown in
the Deutscher
Debitoren Monitor
(DDMonitor).
Type of
ownership: Tenant
Address Lise-Meitner-Allee 20
D 25436 Tornesch
Land register documents were not available.
SPARKASSE SÜDHOLSTEIN, 25436 UETERSEN
Sort. code: 23051030
BIC: NOLADE21SHO
VOLKSBANK PINNEBERG-ELMSHORN, 25436 UETERSEN
Sort. code: 22191405
BIC: GENODEF1PIN
COMMERZBANK, 25429 UETERSEN
Sort. code: 22141628
BIC: COBADEFFXXX
Gross profit or loss:2013 EUR 8,196,431.00
Profit: 2013 EUR 1,473,218.00
Equipment: EUR 128,101.00
Ac/ts receivable: EUR 2,493,604.00
Liabilities: EUR 5,742,972.00
Employees:
45
-
Trainees:
3
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 45.58
Liquidity ratio: 0.61
Return on total capital [%]: 12.67
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 47.15
Liquidity ratio: 1.04
Return on total capital [%]: 22.48
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 40.36
Liquidity ratio: 2.02
Return on total capital [%]: 27.14
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 36.71
Liquidity ratio: 1.27
Return on total capital [%]: 10.54
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: 01.01.2013 - 31.12.2013
ASSETS EUR 11,727,384.59
Fixed assets EUR 3,659,300.58
Intangible assets
EUR 210,658.00
Concessions, licences, rights
EUR 25,046.00
Goodwill
EUR 102,362.00
Advance
payments for intang. assets EUR 83,250.00
Tangible assets
EUR 978,738.00
Land / similar rights
EUR 42,284.00
Plant / machinery
EUR 76,753.00
Other tangible assets / fixtures and
fittings
EUR 128,101.00
Advance payments made / construction
in progress
EUR 731,600.00
Financial assets EUR 2,469,904.58
Shares in participations /
subsidiaries and the like
EUR 270,800.00
Shares in related companies
EUR 270,700.00
Shares in cooperatives
EUR 100.00
Other loans
EUR 2,199,104.58
Current assets
EUR 7,997,930.54
Stocks
EUR 4,202,288.79
Raw materials, consumables and
supplies
EUR 3,000.00
Finished goods / work in progress
EUR 4,199,288.79
Accounts receivable
EUR 2,493,604.39
Trade debtors
EUR 2,083,648.79
Other debtors and assets
EUR 409,955.60
Liquid means
EUR 1,302,037.36
Remaining other assets
EUR 70,153.47
Accruals (assets)
EUR 70,153.47
thereof disagio
EUR 7,000.00
LIABILITIES EUR 11,727,384.59
Shareholders' equity
EUR 5,059,752.21
Capital
EUR 200,000.00
Subscribed capital (share capital)
EUR 200,000.00
Reserves
EUR 100,000.00
Capital reserves
EUR 100,000.00
Balance sheet profit/loss (+/-)
EUR 4,759,752.21
Profit / loss brought forward
EUR 3,286,533.87
Annual surplus / annual deficit
EUR 1,473,218.34
Provisions
EUR 924,659.93
Pension provisions and comparable
provisions
EUR 307,665.00
Provisions for taxes
EUR 24,652.33
Other / unspecified provisions
EUR 592,342.60
Liabilities EUR 5,742,972.45
Financial debts
EUR 2,262,423.41
Liabilities due to banks
EUR 2,262,423.41
Other liabilities
EUR 3,480,549.04
Trade creditors (for IAS incl. bills
of exchange)
EUR 694,879.62
Liabilities from received advance
payments
EUR 1,376,583.95
Liabililties due to related companiesEUR 17,940.55
Unspecified other liabilities
EUR 1,391,144.92
thereof liabilities from tax /
financial authorities
EUR 406,000.00
thereof liabilities from social
security
EUR 15,000.00
Guarantees and other commitments
EUR 2,400,000.00
Other guarantees and other commitmentsEUR 2,400,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-) EUR 8,196,431.17
Staff expenses
EUR 2,800,899.61
Wages and salaries
EUR 2,432,075.31
Social security contributions and
expenses for pension plans and
benefits
EUR 368,824.30
Total depreciation
EUR 207,208.28
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 207,208.28
Other operating expenses
EUR 3,064,427.29
Operating result from continuing
operations
EUR 2,123,895.99
Interest result (+/-)
EUR -87,679.91
Interest and similar income EUR 16,934.64
Interest and similar expenses
EUR 104,614.55
Other financial result
EUR 60,117.59
Income from securities and loans from
financial assets
EUR 60,117.59
Financial result (+/-)
EUR -27,562.32
Result from ordinary operations (+/-)
EUR 2,096,333.67
Income tax / refund of income tax (+/-)EUR -621,959.33
Other
taxes / refund of taxes EUR -1,156.00
Tax
(+/-)
EUR -623,115.33
Annual surplus / annual deficit
EUR 1,473,218.34
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 8,315,451.93
Fixed assets
EUR 1,715,372.83
Intangible assets
EUR 205,734.00
Concessions, licences, rights
EUR 22,438.00
Goodwill
EUR 120,696.00
Advance payments for intang. assets
EUR 62,600.00
Tangible assets
EUR 364,005.00
Land / similar rights
EUR 117,544.00
Plant / machinery
EUR 102,211.00
Other tangible assets / fixtures and
fittings
EUR 144,250.00
Financial assets
EUR 1,145,633.83
Shares in participations /
subsidiaries and the like
EUR 249,800.00
Shares in related companies
EUR 249,700.00
Shares in cooperatives
EUR 100.00
Other loans
EUR 895,833.83
Current assets
EUR 6,563,813.55
Stocks
EUR 3,325,833.12
Raw materials, consumables and
supplies
EUR 800.00
Finished goods / work in progress
EUR 3,325,033.12
Accounts receivable
EUR 3,014,805.37
Trade debtors
EUR 2,574,637.42
Other debtors and assets
EUR 440,167.95
Liquid means
EUR 223,175.06
Remaining other assets
EUR 36,265.55
Accruals (assets)
EUR 36,265.55
thereof disagio
EUR 9,000.00
LIABILITIES EUR 8,315,451.93
Shareholders' equity
EUR 3,581,533.87
Capital
EUR 200,000.00
Subscribed capital (share capital)
EUR 200,000.00
Balance sheet profit/loss (+/-)
EUR 3,381,533.87
Profit / loss brought forward
EUR 1,539,051.67
Annual surplus / annual deficit
EUR 1,842,482.20
Provisions
EUR 1,208,404.29
Pension provisions and comparable
provisions
EUR 283,162.00
Provisions for taxes
EUR 479,481.62
Other / unspecified provisions
EUR 445,760.67
Liabilities
EUR 3,525,513.77
thereof total due to shareholders
EUR 403,000.00
Financial debts
EUR 535,299.51
Liabilities due to banks
EUR 535,299.51
Other liabilities EUR 2,990,214.26
Trade creditors (for IAS incl. bills
of exchange)
EUR 882,692.29
Liabilities from received advance
payments
EUR 728,014.86
Liabililties due to related
companiesEUR 298,807.23
Unspecified other liabilities
EUR 1,080,699.88
thereof liabilities from tax /
financial authorities
EUR 219,000.00
thereof
liabilities from social
security
EUR 14,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 8,809,940.25
Staff expenses
EUR 2,758,276.03
Wages and salaries
EUR 2,398,664.72
Social security contributions and
expenses for pension plans and
benefits
EUR 359,611.31
Total depreciation
EUR 99,788.28
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 99,788.28
Other operating expenses
EUR 3,371,408.88
Operating result from continuing
operations
EUR 2,580,467.06
Interest result (+/-)
EUR -55,733.08
Interest and similar income
EUR 18,347.02
Interest and similar expenses
EUR 74,080.10
Other financial result
EUR 30,655.78
Income from securities and loans from
financial assets
EUR 30,655.78
Financial
result (+/-) EUR -25,077.30
Result from ordinary operations (+/-)
EUR 2,555,389.76
Income tax / refund of income tax (+/-)EUR -711,710.56
Other taxes / refund of taxes
EUR -1,197.00
Tax
(+/-)
EUR -712,907.56
Annual surplus / annual deficit
EUR 1,842,482.20
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.73.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.