|
Report No. : |
354149 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KARL
MAYER TECHNISCHE TEXTILIEN GMBH |
|
|
|
|
Registered Office : |
Mauersbergerstr.
2, D 09117 Chemnitz |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.11.1945 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
345 |
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 |
KARL MAYER TECHNISCHE TEXTILIEN GMBH
Company Status: active
Mauersbergerstr. 2
D 09117 Chemnitz
Telephone:0371/8143-0
Telefax:
0371/8143-110
Homepage: www.karlmayer.com
E-mail:
info@karlmayer.com
VAT
no.: DE132951767
Business relations are permissible.
LEGAL FORM Private
limited company
Date
of foundation: 26.11.1945
Shareholders'
agreement: 26.11.1945
Registered on: 02.10.2015
Commercial Register: Local court 09112 Chemnitz
under: HRB
29837
Share capital: EUR 3,500,000.00
KARL MAYER
Textilmaschinenfabrik GmbH
Brühlstr. 25
D 63179 Obertshausen
Post Box:
11 20, D 63166
Obertshausen
Legal form: Private
limited company
Share capital: EUR 15,000,000.00
Share: EUR 3,500,000.00
Registered on: 01.12.1949
Reg. data: 63065 Offenbach,
HRB 2203
Karlheinz Liebrandt
Schlehenweg 11
D 95119 Naila
authorized to jointly
represent the company
born: 31.08.1958
Profession: Fully
qualified engineer
Manager:
Marcus Kube
D 44135 Dortmund
authorized to jointly
represent the company
born: 30.08.1968
Manager:
Jochen Wenzel
Schmidt
Kolbenbergstr. 7
D 60488 Frankfurt
authorized to jointly
represent the company
born: 21.10.1969
Further functions/participations of Karlheinz
Liebrandt (Manager)
Shareholder:
LIBA-Mitarbeiterbeteiligungs-GmbH
Oberklingensporn
D 95119 Naila
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Registered
on: 14.01.2003
Reg. data: 95030 Hof, HRB 3495
Shareholder:
ROCET GmbH
Oberklingensporn 1
D 95119 Naila
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 11,250.00
Registered
on: 27.07.2007
Reg. data: 95030 Hof, HRB 4238
27.03.1947 - 17.11.2008 Liba-Maschinenfabrik Gesellschaft mit
beschränkter Haftung
Oberklingensporn 2-3
D 95119 Naila
Private limited
company
17.11.2008 - 06.02.2014 Liba-Maschinenfabrik Gesellschaft mit
beschränkter Haftung
Oberklingensporn 1
D 95119 Naila
Private limited
company
06.02.2014 - 02.10.2015 KARL MAYER LIBA Textilmaschinenfabrik
GmbH (AG Hof, HRB 56)
Oberklingensporn 1
D 95119 Naila
Private limited
company
06.01.2011 - 28.11.2013 Manager
Thomas Liebrandt
D 95119 Naila
22.01.2009 - 28.11.2013 Manager
Herbert Igler
D 96364 Marktrodach
Main industrial sector
28290
Manufacture of other general-purpose machinery
Secondary industrial sector
25993
Manufacture of metal products n.e.c.
4669
Wholesale of other machinery, equipment and supplies
4672
Wholesale of metals and metal ores
Shareholder:
LUCEM GmbH
Prattelsackstr. 25
D 52222 Stolberg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 48,963.00
Share: EUR 4,145.00
Reg. data: 23.05.2007
Local court
52070 Aachen
HRB 14222
Payment experience: within periods customary in this trade
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Mauersbergerstr.
2
D 09117 Chemnitz
Land register documents were not available.
Principal banks
SPARKASSE HOCHFRANKEN, 95015 HOF, SAALE
Sort. code: 78050000, Account no.: 430011650
BIC:
BYLADEM1HOF, IBAN: DE07780500000430011650
LANDESBANK
BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144
STUTTGART
Sort. code: 60050101, Account no.: 2666349
BIC: SOLADEST600, IBAN: DE94600501010002666349
Further banks
COMMERZBANK HOF SAALE, 95028 HOF, SAALE
Sort. code: 78040081, Account no.: 783722200
BIC: COBADEFFXXX, IBAN: DE13780400810783722200
UNICREDIT BANK - HYPOVEREINSBANK, 95011 HOF,
SAALE
Sort. code: 78020070, Account no.: 1015036
BIC: HYVEDEMM424, IBAN: DE22780200700001015036
Turnover: 2013 EUR 40,965,958.00
2014 *EUR 36,425,000.00
Profit: 2013 EUR -6,805,753.00
further business figures:
Equipment: EUR 1,149,554.00
Ac/ts receivable: EUR 12,696,149.00
Liabilities: EUR 14,047,363.00
Employees: 345
-
thereof permanent staff: 310
-
Trainees:
35
The
business figures marked with an asterisk are estimates based
on
average values in the line of business.
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 4.57
Liquidity ratio: 0.92
Return on total capital [%]: -22.90
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 22.91
Liquidity ratio: 1.85
Return on total capital [%]: -1.12
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 30.59
Liquidity ratio: 3.08
Return on total capital [%]: 4.83
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 26.59
Liquidity ratio: 2.54
Return on total capital [%]: 1.67
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.
Balance sheet grade
The
balance sheet grade is based on the following ratios: equity
ratio, liquidity ratio and return on total
capital from the
balance sheets published in the Federal
Gazette. It is calculated
in
accordance with the methodology of Euler Hermes. It ranges
from 1.0 (positive) to 5.0 (negative).
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 29,822,620.95
Fixed assets
EUR 3,576,069.16
Intangible assets
EUR 47,297.00
Concessions, licences, rights
EUR 47,297.00
Tangible assets
EUR 3,197,804.70
Land / similar rights
EUR 1,414,572.56
Plant / machinery
EUR 632,033.00
Other tangible assets / fixtures and
fittings
EUR 1,149,553.90
Advance payments made / construction
in progress
EUR 1,645.24
Financial assets
EUR 330,967.46
Shares in participations /
subsidiaries and the like
EUR 230,967.46
Shares in related companies
EUR 125,359.46
Shares in investee companies
EUR 105,608.00
Other loans
EUR 100,000.00
Current assets
EUR 25,738,641.79
Stocks EUR 13,010,339.63
Raw materials, consumables and
supplies
EUR 6,671,157.00
Finished goods / work in progress
EUR 6,268,560.00
Advance payments made EUR 70,622.63
Accounts receivable
EUR 12,696,148.97
Amounts due from shareholders
EUR 0.00
Trade debtors
EUR 8,468,253.01
Amounts
due from related companies EUR 3,857,678.93
Other debtors and assets
EUR 370,217.03
Liquid means
EUR 32,153.19
Remaining other assets
EUR 507,910.00
Accruals (assets)
EUR 115,960.00
Deferred taxes (assets)
EUR 391,950.00
LIABILITIES EUR 29,822,620.95
Shareholders' equity
EUR 1,558,120.47
Capital
EUR 3,500,000.00
Subscribed capital (share capital)
EUR 3,500,000.00
Reserves
EUR 226,350.00
Capital reserves EUR 226,350.00
Balance sheet profit/loss (+/-)
EUR -2,168,229.53
Profit / loss brought forward
EUR 4,536,945.03
Annual surplus / annual deficit
EUR -6,705,174.56
Provisions EUR 14,208,247.84
Pension provisions and comparable
provisions
EUR 11,149,284.00
Other / unspecified provisions
EUR 3,058,963.84
Liabilities
EUR 14,047,363.40
thereof total due to shareholders
EUR 179,136.03
Financial debts
EUR 3,308,835.04
Liabilities due to banks
EUR 3,308,835.04
Other liabilities EUR 10,738,528.36
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,149,776.40
Liabilities from received advance
payments
EUR 1,699,381.61
Unspecified
other liabilities EUR 5,889,370.35
thereof liabilities from tax /
financial authorities
EUR 455,657.66
thereof liabilities from social
security
EUR 27,108.41
Other liabilities
EUR 8,889.24
Deferrals (liabilities)
EUR 8,889.24
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 40,965,958.19
Inventory change + own costs (+/-)
EUR 300,323.23
Inventory change (+/-)
EUR 244,655.13
Capitalised own costs
EUR 55,668.10
Other operating income
EUR 759,658.05
Cost of materials
EUR 20,674,186.69
Raw materials and supplies, purchased
goods
EUR 19,566,753.89
Purchased services EUR 1,107,432.80
Gross result (+/-)
EUR 21,351,752.78
Staff expenses
EUR 18,279,048.45
Wages and salaries
EUR 14,920,025.58
Social security contributions and
expenses for pension plans and
benefits
EUR 3,359,022.87
Total depreciation
EUR 721,977.05
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 721,977.05
Other operating expenses
EUR 8,090,572.19
Operating result from continuing
operations
EUR -5,739,844.91
Interest
result (+/-) EUR -1,023,988.41
Interest and similar income
EUR 43,511.35
Interest and similar expenses
EUR 1,067,499.76
Financial result (+/-)
EUR -1,023,988.41
Result from ordinary operations (+/-)
EUR -6,763,833.32
Extraordinary expenses
EUR 65,517.00
Extraordinary result (+/-)
EUR -65,517.00
Income from assumption of loss by
parent company
EUR 100,577.60
Income tax / refund of income tax (+/-)EUR 47,042.90
Other taxes / refund of taxes
EUR -23,444.74
Tax
(+/-)
EUR 23,598.16
Annual surplus / annual deficit
EUR -6,705,174.56
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 34,538,604.89
Fixed assets
EUR 4,450,420.05
Intangible assets
EUR 33,917.00
Concessions, licences, rights
EUR 33,917.00
Tangible assets
EUR 4,051,561.46
Land / similar rights
EUR 1,509,759.56
Plant / machinery
EUR 641,429.00
Other tangible assets / fixtures and
fittings
EUR 1,900,372.90
Financial assets
EUR 364,941.59
Shares in participations /
subsidiaries and the like
EUR 364,941.59
Shares in related companies
EUR 153,725.59
Shares in investee companies
EUR 211,216.00
Current assets
EUR 29,527,897.84
Stocks
EUR 12,427,200.99
Raw materials, consumables and
supplies
EUR 6,525,856.75
Finished goods / work in progress
EUR 6,023,904.87
Advance payments made
EUR 441,796.20
Minus received advance payments for
orders / installments for stocks
EUR -564,356.83
Accounts receivable
EUR 16,052,844.40
thereof total due from shareholders
EUR 106,206.85
Trade debtors
EUR 12,704,825.94
Amounts due from related companies
EUR 2,919,275.61
Other debtors and assets
EUR 428,742.85
Liquid means
EUR 1,047,852.45
Remaining other assets EUR 560,287.00
Accruals (assets)
EUR 211,204.00
Deferred taxes (assets)
EUR 349,083.00
LIABILITIES EUR 34,538,604.89
Shareholders'
equity EUR 8,263,295.03
Capital
EUR 3,500,000.00
Subscribed capital (share capital)
EUR 3,500,000.00
Reserves
EUR 226,350.00
Capital reserves
EUR 226,350.00
Balance sheet profit/loss (+/-)
EUR 4,536,945.03
Profit / loss brought forward
EUR 4,983,549.39
Annual surplus / annual deficit
EUR -446,604.36
Provisions
EUR 16,594,704.95
Pension provisions and comparable
provisions
EUR 11,237,159.00
Provisions for taxes
EUR 130,728.31
Other / unspecified provisions
EUR 5,226,817.64
Liabilities
EUR 9,645,673.82
Financial debts
EUR 917,424.80
Liabilities due to banks
EUR 917,424.80
Other liabilities
EUR 8,728,249.02
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,960,855.15
Unspecified other liabilities
EUR 4,767,393.87
thereof liabilities from tax /
financial authorities
EUR 943,880.73
thereof liabilities from social
security
EUR 1,558,087.36
Other liabilities
EUR 34,931.09
Deferrals (liabilities)
EUR 34,931.09
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 55,627,631.59
Inventory
change + own costs (+/-) EUR -849,645.47
Inventory change (+/-)
EUR -951,078.27
Capitalised own costs
EUR 101,432.80
Other operating income
EUR 648,466.03
Cost of materials
EUR 27,810,753.81
Raw materials and supplies, purchased
goods
EUR 26,537,476.47
Purchased services
EUR 1,273,277.34
Gross
result (+/-) EUR 27,615,698.34
Staff expenses
EUR 18,232,284.26
Wages and salaries
EUR 14,547,586.06
Social security contributions and
expenses for pension plans and
benefits
EUR 3,684,698.20
Total depreciation
EUR 681,068.30
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 681,068.30
Other operating expenses
EUR 8,474,142.75
Operating result from continuing
operations
EUR 228,203.03
Result from participating interests
(+/-) EUR 71,659.48
Expenses / income from participations EUR 71,659.48
Income from related companies
EUR 71,659.48
Interest result (+/-)
EUR -690,957.98
Interest and similar income
EUR 227,870.46
Interest and similar expenses
EUR 918,828.44
Financial result (+/-)
EUR -619,298.50
Result from ordinary operations (+/-)
EUR -391,095.47
Extraordinary expenses
EUR 65,517.00
Extraordinary result (+/-)
EUR -65,517.00
Other extraordinary income
EUR 5,906.79
thereof compensation payments to
minorities
EUR 5,906.79
Income tax / refund of income tax (+/-)EUR 28,334.06
Other taxes / refund of taxes
EUR -24,232.74
Tax
(+/-)
EUR 4,101.32
Annual surplus / annual deficit
EUR -446,604.36
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.85 |
|
|
1 |
Rs.100.58 |
|
Euro |
1 |
Rs.73.16 |
|
EUR |
1 |
Rs. 72.28 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.