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Report No. : |
355442 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
WEINMANN AACH AG |
|
|
|
|
Registered Office : |
Am Eichwald 6, D 72280 Dornstetten |
|
|
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Country : |
Germany |
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|
|
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Financials (as on) : |
31.12.2014 |
|
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|
|
Date of Incorporation : |
01.01.1949 |
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|
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Com. Reg. No.: |
HRB 727315 |
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Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
·
Wholesale
of iron ores, iron, steel and iron and steel semi-finished goods ·
Wholesale
of non-ferrous ores, metals and metal semi-finished goods ·
Retail
sale of paints and building materials |
|
|
|
|
No. of Employees : |
234 |
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 |
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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 |
|
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 |
WEINMANN
AACH AG
Company Status: active
Am Eichwald 6
D 72280 Dornstetten
Telephone:07443/24020
Telefax: 07443/20031
Homepage: www.weinmann-aach.de
E-mail: info@weinmann-aach.de
DE261627677
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 01.01.1949
Registered on: 11.09.2008
Commercial Register: Local court 70190 Stuttgart
under: HRB
727315
EUR 2,827,536.00
President of the Board of Directors:
Friedrich Weinmann
D 72280 Dornstetten
having sole power of
representation
born: 13.02.1948
Marital status: married
Member of the Board of Directors:
Gebhard Strähler
D 72280 Dornstetten
born: 24.06.1965
Member
of the Board of Directors:
Simon Schultz
D 72172 Sulz
born: 24.04.1977
Member of the Board of Directors:
Sascha Rauter
D 72290 Loßburg
born: 21.01.1980
President of the Supervisory Board:
Dr. Immanuel Stauch
Schwärzlocher Str. 75
D 72070 Tübingen
Further functions/participations of Friedrich
Weinmann (President
of
the Board of Directors)
Manager:
VRW Metallhandel GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 04.12.2014
Reg. data: 70190 Stuttgart, HRB 750920
01.01.1949 - 11.09.2008 Weinmann KG
Glattalstr. 33
D 72280 Dornstetten
Limited partnership
Main industrial sector
46721
Wholesale of iron ores, iron, steel and iron and steel semi-finished
goods
46722
Wholesale of non-ferrous ores, metals and metal semi-finished goods
47523
Retail sale of paints and building materials
Works:
Weinmann Aach AG
Robert-Bosch-Str. 10
D 72280 Dornstetten
TEL.: 07443/24020
FAX.: 07443/20031
Shareholder:
VRW Metallhandel GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private
limited company
Company Status: active
Share capital: EUR 100,000.00
Share: EUR 100,000.00
Reg. data: 04.12.2014
Local court
70190 Stuttgart
HRB 750920
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2014
Type of ownership: Proprietor
Share: 100.00 %
Address Glattalstr.
33
D 72280 Dornstetten
Type
of real estate: factory building
Value at selling price: EUR 1,278,000.00
Type of ownership: Tenant
Address Am
Eichwald 6
D 72280 Dornstetten
Land register documents were not available.
COMMERZBANK, 72232 FREUDENSTADT
Sort. code: 69440007
BIC: COBADEFFXXX
COMMERZBANK VORMALS DRESDNER BANK, 72232
FREUDENSTADT
Sort. code: 60080000
BIC: DRESDEFF600
VOLKSBANK DORNSTETTEN, 72277 DORNSTETTEN,
WÜRTT
Sort. code: 64262408
BIC: GENODES1VDS
BADEN-WÜRTTEMBERGISCHE BANK, 70049 STUTTGART
Sort. code: 60020030
BIC: SOLADEST601
LANDESBANK BADEN-WÜRTTEMBERG, 70144 STUTTGART
Sort. code: 60050000
BIC: SOLADESTXXX
Turnover: 2013 EUR 101,452,364.00
2014 EUR 118,478,340.00
Expected turnover: EUR 120,000,000.00
Profit: 2013 EUR 1,405,948.00
2014 EUR 2,044,531.00
further business figures:
Equipment: EUR 1,691,184.00
Ac/ts receivable: EUR 10,458,950.00
Liabilities: EUR 24,119,155.00
Total numbers of
vehicles: * 25
Employees:
234
- thereof permanent
staff:
218
- Trainees: 16
The
business figures marked with an asterisk are estimates based on average values in the line of business.
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 47.89
Liquidity ratio: 0.49
Return on total capital [%]: 4.19
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 48.71
Liquidity ratio: 0.47
Return on total capital [%]: 2.96
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 58.85
Liquidity ratio: 0.83
Return on total capital [%]: 4.22
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 54.21
Liquidity ratio: 0.79
Return on total capital [%]: 5.20
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 48,786,477.29
Fixed
assets EUR 7,924,863.34
Intangible assets
EUR 562,592.75
Concessions, licences, rights
EUR 562,592.75
Tangible assets
EUR 3,466,228.90
Land / similar rights
EUR 1,042,181.90
Plant / machinery
EUR 732,863.50
Other tangible assets / fixtures and
fittings
EUR 1,691,183.50
Financial
assets EUR 3,896,041.69
Shares in participations /
subsidiaries and the like
EUR 171,179.35
Shares in related companies
EUR 170,879.35
Shares in cooperatives EUR 300.00
Loans to participations /
subsidiaries and the like
EUR 3,724,862.34
Loans to related companies
EUR 3,724,862.34
Current assets
EUR 40,565,326.95
Stocks
EUR 27,547,707.44
Raw materials, consumables and
supplies
EUR 74,516.00
Finished goods / work in progress
EUR 27,342,360.13
Advance
payments made EUR 130,831.31
Accounts receivable
EUR 10,458,950.11
Trade debtors
EUR 9,988,234.27
Other debtors and assets
EUR 470,715.84
Liquid means
EUR 2,558,669.40
Remaining other assets
EUR 296,287.00
Accruals (assets)
EUR 296,287.00
LIABILITIES EUR 48,786,477.29
Shareholders' equity
EUR 23,362,667.82
Capital
EUR 2,827,536.00
Subscribed capital (share capital)
EUR 2,827,536.00
Reserves EUR 20,023,998.98
Capital reserves
EUR 3,033,063.00
Retained earnings / revenue reserves EUR 16,990,935.98
Balance sheet profit/loss (+/-)
EUR 511,132.84
Balance sheet profit / loss
EUR 511,132.84
Provisions
EUR 1,298,336.33
Provisions for taxes
EUR 134,788.00
Other / unspecified provisions
EUR 1,163,548.33
Liabilities
EUR 24,119,155.14
Financial debts
EUR 17,457,864.90
Liabilities due to banks
EUR 17,457,864.90
Other liabilities
EUR 6,661,290.24
Trade creditors (for IAS incl. bills
of exchange)
EUR 2,832,212.24
Unspecified other liabilities
EUR 3,829,078.00
thereof liabilities from tax /
financial authorities
EUR 555,819.16
thereof liabilities from social
security
EUR 45,256.51
Other liabilities
EUR 6,318.00
Deferred taxes (not included under
provisions/liabilities)
EUR 6,318.00
Guarantees and other commitments
EUR 8,492,862.89
Other guarantees and other commitmentsEUR 8,492,862.89
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 118,478,340.04
Inventory change + own costs (+/-)
EUR -7,138,499.87
Inventory change (+/-)
EUR -7,163,499.87
Capitalised own costs
EUR 25,000.00
Other operating income
EUR 655,989.99
Cost of materials
EUR 88,035,034.63
Raw materials and supplies, purchased
goods
EUR 85,823,973.23
Purchased services
EUR 2,211,061.40
Gross result (+/-)
EUR 23,960,795.53
Staff expenses
EUR 11,338,817.17
Wages and salaries
EUR 9,455,067.94
Social security contributions and
expenses for pension plans and
benefits
EUR 1,883,749.23
Total depreciation
EUR 574,268.90
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 574,268.90
Other operating expenses
EUR 8,710,771.45
Operating result from continuing
operations
EUR 3,336,938.01
Interest result (+/-)
EUR -393,620.20
Interest and similar income
EUR 99,600.14
Interest and similar expenses
EUR 493,220.34
Financial result (+/-) EUR -393,620.20
Result from ordinary operations (+/-)
EUR 2,943,317.81
Income tax / refund of income tax (+/-)EUR -858,533.32
Other taxes / refund of taxes
EUR -40,253.11
Tax
(+/-) EUR -898,786.43
Annual surplus / annual deficit
EUR 2,044,531.38
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 47,488,778.68
Fixed assets
EUR 5,169,811.88
Intangible assets
EUR 429,657.00
Concessions, licences, rights
EUR 429,657.00
Tangible assets
EUR 2,604,054.94
Land / similar rights
EUR 1,080,646.22
Plant / machinery
EUR 152,375.50
Other tangible assets / fixtures and
fittings
EUR 1,208,512.50
Advance payments made / construction
in progress
EUR 162,520.72
Financial assets EUR
2,136,099.94
Shares in participations /
subsidiaries and the like
EUR 300.00
Shares in cooperatives
EUR 300.00
Loans to participations /
subsidiaries and the like EUR 2,135,799.94
Loans to related companies
EUR 2,135,799.94
Current assets
EUR 42,092,147.80
Stocks
EUR 30,363,303.03
Raw materials, consumables and
supplies
EUR 44,335.00
Finished goods / work in progress
EUR 30,092,907.90
Advance payments made
EUR 226,060.13
Accounts receivable
EUR 10,209,712.50
Trade debtors
EUR 9,171,981.21
Other debtors and assets
EUR 1,037,731.29
Liquid means
EUR 1,519,132.27
Remaining other assets EUR 226,819.00
Accruals (assets)
EUR 226,819.00
LIABILITIES EUR 47,488,778.68
Shareholders' equity
EUR 21,669,622.74
Capital EUR 2,827,536.00
Subscribed capital (share capital)
EUR 2,827,536.00
Reserves
EUR 18,490,599.72
Capital reserves
EUR 3,033,063.00
Retained earnings / revenue reserves EUR 15,457,536.72
Balance sheet profit/loss (+/-)
EUR 351,487.02
Balance sheet profit / loss
EUR 351,487.02
Provisions
EUR 1,021,891.83
Other / unspecified provisions
EUR 1,021,891.83
Liabilities
EUR 24,797,264.11
Financial debts
EUR 12,584,397.99
Liabilities due to banks
EUR 12,584,397.99
Other liabilities
EUR 12,212,866.12
Trade creditors (for IAS incl. bills
of exchange)
EUR 2,319,819.94
Liabilities from received advance
payments EUR 6,633,542.60
Unspecified other liabilities
EUR 3,259,503.58
thereof liabilities from tax /
financial authorities
EUR 378,479.09
thereof liabilities from social
security EUR 18,782.38
Guarantees and other commitments
EUR 9,307,716.05
Discounted bills of exchange
EUR 100,716.05
Other guarantees and other commitmentsEUR 9,207,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 101,452,364.24
Inventory change + own costs (+/-)
EUR 6,036,458.21
Inventory change (+/-) EUR 6,008,458.21
Capitalised own costs
EUR 28,000.00
Other operating income
EUR 423,521.85
Cost of materials
EUR 87,558,981.66
Raw
materials and supplies, purchased
goods
EUR 81,324,918.13
Purchased services
EUR 6,234,063.53
Gross result (+/-)
EUR 20,353,362.64
Staff expenses EUR 10,535,530.70
Wages and salaries
EUR 8,853,102.24
Social security contributions and
expenses for pension plans and
benefits
EUR 1,682,428.46
Total depreciation EUR 415,622.52
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 415,622.52
Other operating expenses
EUR 7,145,764.55
Operating result from continuing
operations
EUR 2,256,444.87
Interest result (+/-)
EUR -248,230.49
Interest and similar income
EUR 126,676.28
Interest and similar expenses
EUR 374,906.77
Financial result (+/-)
EUR -248,230.49
Result from ordinary operations (+/-)
EUR 2,008,214.38
Income tax / refund of income tax (+/-)EUR -564,242.19
Other taxes / refund of taxes
EUR -38,024.11
Tax
(+/-)
EUR -602,266.30
Annual surplus / annual deficit
EUR 1,405,948.08
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
|
EUR |
1 |
Rs.72.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.