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Report No. : |
355027 |
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Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KW AUTOMOTIVE GMBH |
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|
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Registered Office : |
Aspachweg 14 D 74427 Fichtenberg |
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Country : |
Germany |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
HRB 571255 |
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Legal Form : |
Private Limited Company |
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|
Line of Business : |
Manufacture of other parts and accessories
for motor vehicles. |
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No. of Employee : |
129 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
KW
AUTOMOTIVE GMBH
Company Status: active
Aspachweg 14
D 74427 Fichtenberg
Telephone:07971/96300
Telefax: 07971/9630-191
Homepage:
www.kwautomotive.de
E-mail: info@kwautomotive.de
VAT
no.: DE812382653
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1997
Shareholders'
agreement: 23.12.1997
Registered
on: 12.02.1998
Commercial Register: Local court 70190 Stuttgart
under: HRB
571255
EUR 200,000.00
Shareholder:
Jürgen Wohlfarth
Friedenstr. 42
D 71540 Murrhardt
born: 01.09.1970
Share: EUR 70,000.00
Shareholder:
Klaus Wohlfarth
Aspachweg 16
D 74427 Fichtenberg
born: 09.06.1969
Share: EUR 70,000.00
Shareholder:
Ivonne Wohlfarth
Aspachweg 16
D 74427 Fichtenberg
born: 13.06.1970
Share: EUR 60,000.00
Manager:
Jürgen Wohlfarth
Friedenstr. 42
D 71540 Murrhardt
born: 01.09.1970
Profession: Insurance
agent
Manager:
Klaus Wohlfarth
Aspachweg 16
D 74427 Fichtenberg
born: 09.06.1969
Profession: Industrial
manager
Marital status: married
Further functions/participations of Jürgen
Wohlfarth (Manager)
Proprietor:
Jürgen Wohlfarth
Friedenstr. 42
D 71540 Murrhardt
Legal form: Unregistered
commercial
enterprise
Shareholder:
KW Industrieprojekte GmbH
Aspachweg 14
D 74427 Fichtenberg
Legal form: Private
limited company
Share capital: EUR 50,000.00
Share: EUR 12,500.00
Registered
on: 05.07.2007
Reg. data: 70190 Stuttgart, HRB 723358
Manager:
KW Industrieprojekte GmbH
Aspachweg 14
D 74427 Fichtenberg
Legal form: Private limited
company
Share capital: EUR 50,000.00
Registered
on: 05.07.2007
Reg. data: 70190 Stuttgart, HRB 723358
Further functions/participations of Klaus
Wohlfarth (Manager)
General partner:
Klaus Wohlfahrt, Michael
Hekele
Obere Riedwiesen 27
D 74427 Fichtenberg
Legal form: Partnership
under the Civil Code
Shareholder:
DTS GmbH KFZ-Zubehörteile
Obere Riedwiesen 27
D 74427 Fichtenberg
Legal form: Private
limited company
Share capital: EUR 75,000.00
Share: EUR 60,000.00
Registered
on: 06.11.2000
Reg. data: 70190 Stuttgart, HRB 571445
Shareholder:
KW Industrieprojekte GmbH
Aspachweg 14
D 74427 Fichtenberg
Legal form: Private
limited company
Share capital: EUR 50,000.00
Share: EUR 12,500.00
Registered
on: 05.07.2007
Reg. data: 70190 Stuttgart, HRB 723358
Manager:
WEITEC Fahrwerktechnik
GmbH
Industriestr. 1
D 29323 Wietze
Legal form: Private
limited company
dissolved
Share capital: EUR
153,387.55
Registered
on: 13.07.1992
Reg. data: 21335 Lüneburg, HRB 100543
Manager:
DTS GmbH KFZ-Zubehörteile
Obere Riedwiesen 27
D 74427 Fichtenberg
Legal form: Private
limited company
Share capital: EUR 75,000.00
Registered
on: 06.11.2000
Reg. data: 70190 Stuttgart, HRB 571445
Manager:
KW Industrieprojekte GmbH
Aspachweg 14
D 74427 Fichtenberg
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 05.07.2007
Reg. data: 70190 Stuttgart, HRB 723358
01.02.1991 - 21.12.1997 Klaus Wohlfarth
Friedenstr. 26
D 71540 Murrhardt
Unregistered
commercial enterprise
Main industrial sector
29320
Manufacture of other parts and accessories for motor
vehicles
Shareholder:
fahrwerk direkt gmbh
Wittestr. 30e
D 13509 Berlin
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 06.08.2009
Local court
14057 Berlin
HRB 121221 B
Shareholder:
AP Sportfahrwerke GmbH
Kochstr. 17a
D 74405 Gaildorf
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 04.06.2004
Local court
70190 Stuttgart
HRB 571685
Shareholder:
Race Room Entertainment
GmbH Deutschland
Aspachweg 14
D 74427 Fichtenberg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 22.08.2011
Local court 70190 Stuttgart
HRB 738507
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
PMI: present: 100
01.12.2015
Ø 6 months:84
The "Payment
Morality Index" evaluates
payment delays that have
been reported to
the "DDMonitor"
100: No payment delays are shown in the
"DDMonitor".
80-99: The "DDMonitor" confirms the
payment
delay of a few
days.
40-79: The "DDMonitor" confirms the
payment
delay of some
days to weeks.
0-39: The "DDMonitor" confirms the
payment
delay of several
months.
Important note: In the
past months only
single or slight payment
delays have become
known.
Type of ownership: Tenant
Address Aspachweg 14
D 74427 Fichtenberg
Land
register documents were not available.
BANKERS
VR
BANK SCHWÄBISCH HALL-CRAILSHEIM, 74427 FICHTENBERG, WÜRTT
Sort. code: 62290110, Account no.: 675550009
BIC: GENODES1SHA, IBAN: DE03622901100675550009
VOLKSBANK BACKNANG, 71522 BACKNANG
Sort. code: 60291120, Account no.: 101788002
BIC: GENODES1VBK, IBAN: DE37602911200101788002
KREISSPARKASSE WAIBLINGEN, 71304 WAIBLINGEN,
REMS
Sort. code: 60250010, Account no.: 688680
BIC: SOLADES1WBN, IBAN: DE26602500100000688680
Gross profit or loss:2013 EUR 16,306,222.00
Profit: 2013 EUR 810,761.00
Equipment: EUR 1,094,023.00
Ac/ts receivable: EUR 8,985,435.00
Liabilities: EUR 12,423,498.00
Employees:
129
-
thereof permanent staff: 129
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 43.08
Liquidity ratio: 0.74
Return on total capital [%]: 3.24
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 39.42
Liquidity ratio: 0.78
Return on total capital [%]: 4.02
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 36.32
Liquidity ratio: 0.79
Return on total capital [%]: 3.96
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 43.19
Liquidity ratio: 1.07
Return on total capital [%]: 7.47
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 25,397,540.51
Fixed assets
EUR 10,738,170.37
Intangible assets
EUR 444,555.00
Goodwill EUR 220,558.00
Other / unspecified intangible assetsEUR 223,997.00
Tangible assets
EUR 1,406,689.22
Land / similar rights
EUR 93,750.00
Plant / machinery
EUR 170,186.08
Other tangible assets / fixtures and
fittings
EUR 1,094,023.12
Advance payments made / construction
in progress EUR 48,730.02
Financial assets
EUR 8,886,926.15
Shares in participations /
subsidiaries and the like
EUR 1,531,125.85
Shares in investee companies
EUR 1,531,125.85
Loans to participations /
subsidiaries and the like
EUR 7,355,500.30
Loans to related companies
EUR 7,355,500.30
Other / unspecified financial assets EUR 300.00
Current assets
EUR 14,568,340.54
Stocks
EUR 5,532,271.18
Accounts receivable
EUR 8,985,435.47
Amounts due from investee companies
EUR 6,199,609.98
Other debtors and assets
EUR 2,785,825.49
Liquid means
EUR 50,633.89
Remaining other assets
EUR 91,029.60
Accruals (assets)
EUR 91,029.60
LIABILITIES EUR 25,397,540.51
Shareholders' equity
EUR 10,655,707.50
Capital
EUR 200,000.00
Subscribed capital (share capital)
EUR 200,000.00
Balance sheet profit/loss (+/-)
EUR 10,455,707.50
Profit / loss brought forward
EUR 9,644,946.13
Annual surplus / annual deficit
EUR 810,761.37
Items between shareholders' equity and
debt capital
EUR 1,481,013.00
Mezzanine financing
EUR 1,481,013.00
Contributions of silent partners
EUR 1,481,013.00
Provisions
EUR 837,322.28
Liabilities
EUR 12,423,497.73
Financial debts
EUR 9,623,172.43
Liabilities due to banks
EUR 9,623,172.43
Other liabilities EUR 2,800,325.30
Liabililties due to related companiesEUR 74,008.17
Unspecified other liabilities
EUR 2,726,317.13
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 16,306,222.25
Staff expenses
EUR 7,554,582.00
Wages and salaries
EUR 6,269,566.31
Social security contributions and
expenses for pension plans and
benefits
EUR 1,285,015.69
Total depreciation
EUR 478,459.57
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 478,459.57
Other operating expenses
EUR 7,494,668.44
Operating result from continuing
operations
EUR 778,512.24
Result from participating interests
(+/-) EUR 455,000.00
Expenses / income from participations EUR 455,000.00
Income from related companies
EUR 455,000.00
Interest result (+/-)
EUR -186,615.74
Interest
and similar income EUR 385,984.67
Interest and similar expenses
EUR 572,600.41
Financial result (+/-)
EUR 268,384.26
Result from ordinary operations (+/-)
EUR 1,046,896.50
Income tax / refund of income tax (+/-)EUR -223,881.71
Other taxes / refund of taxes
EUR -12,253.42
Tax
(+/-)
EUR -236,135.13
Annual surplus / annual deficit
EUR 810,761.37
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 26,061,941.92
Fixed assets
EUR 8,716,414.98
Intangible assets
EUR 439,102.00
Goodwill
EUR 173,872.00
Other / unspecified intangible assetsEUR 265,230.00
Tangible assets
EUR 1,302,386.83
Land / similar rights
EUR 108,812.00
Plant / machinery
EUR 144,080.08
Other tangible assets / fixtures and
fittings
EUR 1,035,199.62
Advance payments made / construction
in progress
EUR 14,295.13
Financial assets
EUR 6,974,926.15
Shares in participations /
subsidiaries and the like
EUR 1,531,125.85
Shares in investee companies
EUR 1,531,125.85
Loans to participations /
subsidiaries and the like
EUR 5,443,500.30
Loans to related companies
EUR 5,443,500.30
Other / unspecified financial assets EUR 300.00
Current assets
EUR 17,305,497.51
Stocks
EUR 7,008,006.04
Accounts receivable
EUR 10,174,442.62
Amounts due from investee companies
EUR 7,513,737.91
Other debtors and assets
EUR 2,660,704.71
Liquid means EUR 123,048.85
Remaining other assets
EUR 40,029.43
Accruals (assets)
EUR 40,029.43
LIABILITIES EUR 26,061,941.92
Shareholders' equity
EUR 9,844,946.13
Capital
EUR 200,000.00
Subscribed capital (share capital)
EUR 200,000.00
Balance sheet profit/loss (+/-)
EUR 9,644,946.13
Profit / loss brought forward EUR 8,612,503.93
Annual surplus / annual deficit
EUR 1,032,442.20
Items between shareholders' equity and
debt capital
EUR 1,700,863.00
Mezzanine financing
EUR 1,700,863.00
Contributions of silent partners
EUR 1,700,863.00
Provisions
EUR 1,018,800.54
Liabilities
EUR 13,497,332.25
Financial
debts EUR 10,102,254.64
Liabilities due to banks
EUR 10,102,254.64
Other liabilities
EUR 3,395,077.61
Liabilities due to investee companiesEUR 250,125.07
Unspecified other liabilities
EUR 3,144,952.54
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 17,206,790.38
Staff expenses EUR 7,289,517.48
Wages and salaries
EUR 6,070,728.06
Social security contributions and
expenses for pension plans and
benefits
EUR 1,218,789.42
Total depreciation
EUR 735,312.94
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 402,218.77
Depreciation on current assets (+/-)
EUR 333,094.17
Other operating expenses
EUR 7,618,299.27
Operating result from continuing
operations
EUR 1,563,660.69
Result from participating interests
(+/-)
EUR 235,000.00
Expenses / income from participations EUR 235,000.00
Income from related companies
EUR 235,000.00
Interest result (+/-)
EUR -286,147.77
Interest and similar income
EUR 373,700.73
Interest and similar expenses
EUR 659,848.50
Other financial result
EUR -127,822.97
Depreciation on financial assets and
marketable securities
EUR 127,822.97
Financial result (+/-)
EUR -178,970.74
Result from ordinary operations (+/-)
EUR 1,384,689.95
Income tax / refund of income tax (+/-)EUR -340,468.73
Other taxes / refund of taxes
EUR -11,779.02
Tax
(+/-)
EUR -352,247.75
Annual surplus / annual deficit
EUR 1,032,442.20
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.72.04 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
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|
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.