MIRA INFORM REPORT

 

 

Report No. :

308977

Report Date :

24.02.2015

 

IDENTIFICATION DETAILS

 

Name :

ROHDE & SCHWARZ GMBH & CO. KOMMANDITGESELLSCHAFT

 

 

Registered Office :

Mühldorfstr. 15, D 81671 München,Post Box:80 14 69, D 81614 München

 

 

Country :

Germany

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

11.11.1933

 

 

Com. Reg. No.:

HRA 16270

 

 

Legal Form :

Limited partnership with priv. ltd. company as general partner

 

 

Line of Business :

Manufacture of instruments and appliances for measuring, testing and navigation.

 

 

No. of Employee :

 3,975

 

 

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

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Germany

A1

A

 

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, has 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 5.3% in 2013. The new German government introduced a minimum wage of $11 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%. 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. 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 hopes to replace nuclear power with renewable energy. 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.

 

Source : CIA

 

 

Company name and address

 

 ROHDE & SCHWARZ GMBH & CO. KOMMANDITGESELLSCHAFT

 

 Company Status:         active

                                    Mühldorfstr. 15

                                    D 81671 München

                                    Post Box:

                                    80 14 69, D 81614 München

                                    Telephone:089/4129-1290

                                    Telefax:  089/412912164

                                    Homepage: www.rohde-schwarz.com

                                    E-mail:   info@rohde-schwarz.com

 

 VAT no.:             DE130256683

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

 LEGAL FORM           Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:      11.11.1933

 Registered on:             17.02.1935

 Register of

 companies:                  Local court 80333 München

 under:                                       HRA 16270

 

 Total cap. contribution:                EUR        100,000,000.00

 Number of

 shareholders:                                                19

 Shareholder total capital:              EUR        100,000,000.00

 

 

 General partner

 

                      RUSEG Verwaltungs-GmbH

                      Mühldorfstr. 15

                      D 81671 München

                      Legal form: Private limited company

                      Share capital:     EUR             52,000.00

                      Registered on: 09.12.1966

                      Reg. data: 80333 München, HRB 7534

 

 

 Shareholder

 

                      Markus Leicher

                      D 81545 München

                      born: 12.03.1965

                      Share:             EUR             26,000.00

 Shareholder:

                      Daniel Lothar Beringer

                      D 80805 München

                      born: 26.01.1974

                      Share:             EUR             26,000.00

 

Manager

 

                      Christian Leicher

                      D 81679 München

                      authorized to jointly represent the company

                      born: 03.08.1969

                      Profession: Fully qualified economic

                      engineer

                      Marital status: unknown

 Manager:

                      Manfred Fleischmann

                      D 80333 München

                      authorized to jointly represent the company

                      Profession: graduate engineer

 Manager:

                      Peter Riedel

                      D 81671 München

                      authorized to jointly represent the company

                      born: 19.10.1965

 Proxy:

                      Christian Leicher

                      D 81679 München

                      authorized to jointly represent the company

                      born: 03.08.1969

                      Profession: Fully qualified economic

                      engineer

                      Marital status: unknown

 

Proxy

 

                      Johann Kraus

                      D 94234 Viechtach

                      authorized to jointly represent the company

                      born: 15.10.1965

                      Profession: Fully qualified management

                      expert

                      Marital status: unknown

 Proxy:

                      Dr. Dirk Eric Loebermann

                      D 82205 Gilching

                      authorized to jointly represent the company

                      born: 17.11.1966

                      Marital status: unknown

 Proxy:

                      Manfred Fleischmann

                      D 85521 Ottobrunn

                      authorized to jointly represent the company

 Proxy:

                      Jürgen Carstens

                      D 37412 Herzberg

                      authorized to jointly represent the company

                      born: 04.08.1964

 Proxy:

                      Mario Paoli

                      D 85232 Bergkirchen

                      authorized to jointly represent the company

                      born: 16.08.1968

 Proxy:

                      Peter G. Schlindwein

                      D 91785 Pleinfeld

                      authorized to jointly represent the company

                      born: 15.03.1963

 Proxy:

                      Dr. Erich Freund

                      D 82054 Sauerlach

                      authorized to jointly represent the company

                      born: 29.01.1950

 Proxy:

                      Achim Klein

                      D 85551 Kirchheim

                      authorized to jointly represent the company

                      born: 08.10.1954

                      Marital status: unknown

 Proxy:

                      Dietmar Vahldiek

                      Parkstr. 4

                      D 85661 Forstinning

                      authorized to jointly represent the company

                      born: 26.01.1961

 Proxy:

                      Thomas-Alexander Esch

                      D 83607 Holzkirchen

                      authorized to jointly represent the company

                      born: 07.05.1965

 Proxy:

                      Jürgen Nies

                      D 81671 München

                      authorized to jointly represent the company

                      born: 05.06.1961

 Proxy:

                      Hans Knapek

                      D 83624 Otterfing

                      authorized to jointly represent the company

                      born: 29.06.1959

 Proxy:

                      Peter Maurer

                      D 85622 Feldkirchen

                      authorized to jointly represent the company

                      born: 07.06.1958

 Proxy:

                      Peter Riedel

                      D 81671 München

                      authorized to jointly represent the company

                      born: 19.10.1965

 Proxy:

                      Gerhard Alberter

                      D 85598 Baldham

                      authorized to jointly represent the company

                      born: 26.01.1953

                      Marital status: unknown

 Proxy:

                      Markus Becker

                      D 53804 Much

                      authorized to jointly represent the company

                      born: 31.12.1957

                      Marital status: unknown

 Proxy:

                      Johann Hackl

                      D 83607 Holzkirchen

                      authorized to jointly represent the company

                      born: 18.07.1950

                      Marital status: unknown

 Proxy:

                      Patrick Pötschke

                      D 80331 München

                      authorized to jointly represent the company

                      born: 25.05.1966

                      Marital status: unknown

 Proxy:

                      Herbert Rewitzer

                      D 80331 München

                      authorized to jointly represent the company

                      born: 23.07.1957

                      Marital status: unknown

 Proxy:

                      Roland Steffen

                      D 83093 Bad Endorf

                      authorized to jointly represent the company

                      born: 01.04.1952

                      Marital status: unknown

 Proxy:

                      Cornelius Heinemann

                      D 85435 Erding

                      authorized to jointly represent the company

                      born: 12.08.1965

 

 Further functions/participations of RUSEG Verwaltungs-GmbH

 (General partner)

 Shareholder:

                      RUSEG Vermögensverwaltung GmbH

                      Mühldorfstr. 15

                      D 81671 München

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         17.07.2000

                      Reg. data:  80333 München, HRB 132192

 

 

 COMPANY HISTORY

 

 11.11.1933 - 1967        Rohde & Schwarz

                          D 81671 München

                          General Partnership

 

 

 BUSINESS ACTIVITIES

 Main industrial sector

 26300     26511   Manufacture of instruments and appliances for measuring,

 testing and navigation

 

BRANCHES AND FACTORIES

 Branch:

                      Rohde & Schwarz GmbH & Co.

                      Kommanditgesellschaft

                      Kaikenrieder Str. 27

                      D 94244 Teisnach

                      TEL.: 09923/85-70

                      FAX.: 09923/85-71218

 Branch:

                      Rohde & Schwarz GmbH & Co.

                      Kommanditgesellschaft

                      Vierenkamp 6

                      D 22453 Hamburg

                      TEL.: 040/38618100

                      FAX.: 040/38618115

 Branch:

                      Rohde & Schwarz GmbH & Co.

                      Kommanditgesellschaft

                      Graf-Zeppelin-Str. 18

                      D 51147 Köln

                      TEL.: 02203/49-0

                      FAX.: 02203/49-229

 

 

 PARTICIPATIONS

 

 Limited partner:

                      R & S Terra GmbH & Co. KG

                      Dr.-Max-Str. 8

                      D 82031 Grünwald

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Company Status: active

                      Total cap.         EUR            110,000.00

                      contribution:

                      Share:             EUR            110,000.00

                      Reg. data:  19.08.1970

                                  Local court 80333 München

                                  HRA 45419

 Limited partner:

                      R & S TERRA II GmbH & Co. KG

                      Mühldorfstr. 15

                      D 81671 München

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Company Status: active

                      Total cap.         EUR            100,000.00

                      contribution:

                      Share:             EUR            100,000.00

                      Reg. data:  13.08.2014

                                  Local court 80333 München

                                  HRA 102612

 Shareholder:

                      RUSA - Rohde & Schwarz Anlagen GmbH

                      Mühldorfstr. 15

                      D 81671 München

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR         26,500,000.00

                      Share:             EUR         26,500,000.00

                      Reg. data:  17.07.1984

                                  Local court 80333 München

                                  HRB 73851

 Shareholder:

                      HAMEG Instruments GmbH

                      Industriestr. 6

                      D 63533 Mainhausen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR          3,000,000.00

                      Share:             EUR          3,000,000.00

                      Reg. data:  28.06.2005

                                  Local court 63065 Offenbach

                                  HRB 41200

 Shareholder:

                      ESG Elektroniksystem- und

                      Logistik-Gesellschaft mit beschränkter

                      Haftung

                      Frankfurter Ring 211

                      D 80807 München

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR          8,000,000.00

                      Share:             EUR          2,399,600.00

                      Reg. data:  04.03.1968

                                  Local court 80333 München

                                  HRB 8130

 Shareholder:

                      R & S IT-Security GmbH

                      Mühldorfstr. 15

                      D 81671 München

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            500,000.00

                      Share:             EUR            500,000.00

                      Reg. data:  27.12.2005

                                  Local court 80333 München

                                  HRB 160333

 Shareholder:

                      MTG Marinetechnik GmbH

                      Wandsbeker Königstr. 62

                      D 22041 Hamburg

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR          3,068,000.00

                      Share:             EUR            460,200.00

                      Reg. data:  07.10.1966

                                  Local court 20355 Hamburg

                                  HRB 11500

 Shareholder:

                      Rohde & Schwarz Meßgerätebau GmbH

                      Mühldorfstr. 15

                      D 81671 München

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR          1,900,000.00

                      Share:             EUR            114,000.00

                      Reg. data:  24.12.1941

                                  Local court 80333 München

                                  HRB 1059

 Shareholder:

                      R & S Immobilienmanagement GmbH

                      Friedenstr. 22b

                      D 81671 München

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             80,000.00

                      Share:             EUR             80,000.00

                      Reg. data:  15.11.2001

                                  Local court 80333 München

                                  HRB 43407

 Shareholder:

                      GMIT GmbH

                      Am Studio 3

                      D 12489 Berlin

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             32,750.00

                      Share:             EUR             32,750.00

                      Reg. data:  17.02.2006

                                  Local court 14057 Berlin

                                  HRB 100581 B

 Shareholder:

                      R & S Terra Verwaltungs GmbH

                      Dr.-Max-Str. 8

                      D 82031 Grünwald

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             26,000.00

                      Share:             EUR             26,000.00

                      Reg. data:  19.03.1996

                                  Local court 80333 München

                                  HRB 52944

 Shareholder:

                      Deutsche Elektronik Gesellschaft für

                      Algerien mbH

                      Wörthstr. 85

                      D 89077 Ulm

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             60,000.00

                      Share:             EUR             20,000.00

                      Reg. data:  12.04.2011

                                  Local court 89073 Ulm

                                  HRB 726420

 Shareholder:

                      RPG Radiometer physics GmbH

                      Birkenmaarstr. 10

                      D 53340 Meckenheim

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             26,000.00

                      Share:             EUR             19,500.00

                      Reg. data:  28.05.1991

                                  Local court 53111 Bonn

                                  HRB 10291

 

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

 Balance sheet year:  2012/2013

 

 

REAL ESTATE

 

 

 Type of ownership:   unknown

 Address              Mühldorfstr. 15

                      D 81671 München

 

 Type of ownership:   unknown

 Address              Kaikenrieder Str. 27

                      D 94244 Teisnach

 

 Type of ownership:   unknown

 Address              Vierenkamp 6

                      D 22453 Hamburg

 

 Type of ownership:   unknown

 Address              Graf-Zeppelin-Str. 18

                      D 51147 Köln

 

 Land register documents were not available.

 

 

 BANKERS

 

 BHF-BANK, 80333 MÜNCHEN

 Sort. code: 70220200

 BIC: BHFBDEFF700

 COMMERZBANK, 80704 MÜNCHEN

 Sort. code: 70040041

 BIC: COBADEFFXXX

 DEUTSCHE BANK, 80271 MÜNCHEN

 Sort. code: 70070010

 BIC: DEUTDEMMXXX

 UNICREDIT BANK - HYPOVEREINSBANK, 80311 MÜNCHEN

 Sort. code: 70020270

 BIC: HYVEDEMMXXX

 HSBC TRINKAUS & BURKHARDT, 40002 DÜSSELDORF

 Sort. code: 30030880

 BIC: TUBDDEDDXXX

 


 

 FINANCIAL FIGURES

 

 Turnover:            2012/2013          EUR      1,528,681,194.00

 Profit:              2012/2013          EUR        288,351,791.00

 Equipment:                              EUR         43,686,625.00

 Ac/ts receivable:                       EUR        466,300,706.00

 Liabilities:                            EUR        607,167,810.00

 Employees:                                                  3,975

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.07.2012 - 30.06.2013

 Equity ratio [%]:                 61.16

 Liquidity ratio:                  10.00

 Return on total capital [%]:      13.92

 

 Balance sheet ratios 01.07.2011 - 30.06.2012

 Equity ratio [%]:                 60.30

 Liquidity ratio:                  10.00

 Return on total capital [%]:      14.51

 

 Balance sheet ratios 01.07.2010 - 30.06.2011

 Equity ratio [%]:                 56.32

 Liquidity ratio:                  10.00

 Return on total capital [%]:      17.12

 

 Balance sheet ratios 01.07.2009 - 30.06.2010

 Equity ratio [%]:                 54.61

 Liquidity ratio:                  10.00

 Return on total capital [%]:       9.08

 

 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

 

 Financial year:      01.07.2012 - 30.06.2013

 

 ASSETS                                  EUR      2,071,737,078.00

  Fixed assets                           EUR      1,038,344,809.06

   Intangible assets                     EUR         15,254,118.64

    Concessions, licences, rights        EUR         15,250,240.98

    Goodwill                             EUR              3,877.66

   Tangible assets                       EUR        113,901,875.01

    Land / similar rights                EUR         25,802,822.15

    Plant / machinery                    EUR         41,823,716.32

    Other tangible assets / fixtures and

    fittings                             EUR         43,686,624.97

    Advance payments made / construction

    in progress                          EUR          2,588,711.57

   Financial assets                      EUR        909,188,815.41

    Shares in participations /

    subsidiaries and the like            EUR        907,556,146.37

     Shares in related companies         EUR        899,546,376.78

     Shares in investee companies        EUR          8,009,769.59

    Other loans                          EUR          1,632,669.04

  Current assets                         EUR      1,025,772,845.62

   Stocks                                EUR        217,421,411.36

    Raw materials, consumables and

    supplies                             EUR         93,234,601.52

    Finished goods / work in progress    EUR        253,581,389.70

    Advance payments made                EUR          2,073,334.53

    Minus received advance payments for

    orders / installments for stocks     EUR       -131,467,914.39

   Accounts receivable                   EUR        466,300,706.21

    Trade debtors                        EUR         98,548,690.67

    Amounts due from related companies   EUR        322,847,711.55

    Amounts due from investee companies  EUR          2,299,177.83

    Other debtors and assets             EUR         42,605,126.16

   Liquid means                          EUR        342,050,728.05

  Remaining other assets                 EUR          7,619,423.32

   Accruals (assets)                     EUR          7,589,279.53

   Active difference from asset

   offsetting                            EUR             30,143.79

 

 LIABILITIES                             EUR      2,071,737,078.00

  Shareholders' equity                   EUR        859,500,000.00

   Capital                               EUR        100,000,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR        100,000,000.00

   Reserves                              EUR        759,500,000.00

  Provisions                             EUR        599,556,000.00

   Pension provisions and comparable

   provisions                            EUR        310,565,000.00

   Provisions for taxes                  EUR         27,952,000.00

   Other / unspecified provisions        EUR        261,039,000.00

  Liabilities                            EUR        607,167,809.53

   Other liabilities                     EUR        607,167,809.53

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         82,306,794.00

    Liabilities from received advance

    payments                             EUR         40,484,655.24

    Liabililties due to related companiesEUR         63,778,812.50

    Unspecified other liabilities        EUR        420,597,547.79

     thereof liabilities from tax /

     financial authorities               EUR          7,261,238.12

     thereof liabilities from social

     security                            EUR            864,874.49

  Other liabilities                      EUR          5,513,268.47

   Deferrals (liabilities)               EUR          5,513,268.47

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR      1,528,681,193.89

  Inventory change + own costs (+/-)     EUR         29,152,974.59

   Inventory change (+/-)                EUR         15,791,494.66

   Capitalised own costs                 EUR         13,361,479.93

  Other operating income                 EUR         91,118,227.37

  Cost of materials                      EUR        646,310,931.23

   Raw materials and supplies, purchased

   goods                                 EUR        317,183,269.23

   Purchased services                    EUR        329,127,662.00

  Gross result (+/-)                     EUR      1,002,641,464.62

  Staff expenses                         EUR        333,550,694.07

   Wages and salaries                    EUR        283,752,106.66

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         49,798,587.41

  Total depreciation                     EUR         31,470,802.70

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         31,470,802.70

  Other operating expenses               EUR        292,199,124.97

  Operating result from continuing

  operations                             EUR        345,420,842.88

  Result from participating interests

  (+/-)                                  EUR         25,646,607.00

   Expenses / income from participations EUR         25,646,607.00

    Income from transfer of profits      EUR            665,490.09

    Income from related companies        EUR         24,981,116.91

  Interest result (+/-)                  EUR        -31,210,588.98

   Interest and similar income           EUR          1,959,005.50

    thereof from related companies       EUR            791,773.44

   Interest and similar expenses         EUR         33,169,594.48

    thereof paid to related companies    EUR            157,933.49

  Other financial result                 EUR            -15,523.14

   Depreciation on financial assets and

   marketable securities                 EUR             15,523.14

  Financial result (+/-)                 EUR         -5,579,505.12

  Result from ordinary operations (+/-)  EUR        339,841,337.76

  Income tax / refund of income tax (+/-)EUR        -51,320,094.58

  Other taxes / refund of taxes          EUR           -169,451.89

  Tax (+/-)                              EUR        -51,489,546.47

  Annual surplus / annual deficit        EUR        288,351,791.29

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.07.2011 - 30.06.2012

 

 ASSETS                                  EUR      1,867,406,302.90

  Fixed assets                           EUR        976,552,526.33

   Intangible assets                     EUR          9,390,411.32

    Concessions, licences, rights        EUR          9,371,023.04

    Goodwill                             EUR             19,388.28

   Tangible assets                       EUR         76,615,229.56

    Land / similar rights                EUR         12,203,176.05

    Plant / machinery                    EUR         34,444,366.19

    Other tangible assets / fixtures and

    fittings                             EUR         21,011,480.02

    Advance payments made / construction

    in progress                          EUR          8,956,207.30

   Financial assets                      EUR        890,546,885.45

    Shares in participations /

    subsidiaries and the like            EUR        888,914,216.41

     Shares in related companies         EUR        879,993,002.48

     Shares in investee companies        EUR          8,921,213.93

    Other loans                          EUR          1,632,669.04

  Current assets                         EUR        885,009,425.30

   Stocks                                EUR        218,710,225.87

    Raw materials, consumables and

    supplies                             EUR         80,394,295.29

    Finished goods / work in progress    EUR        235,818,910.55

    Advance payments made                EUR          1,776,590.49

    Minus received advance payments for

    orders / installments for stocks     EUR        -99,279,570.46

   Accounts receivable                   EUR        466,707,026.99

    Trade debtors                        EUR        114,423,428.01

    Amounts due from related companies   EUR        317,179,896.84

    Amounts due from investee companies  EUR            799,121.71

    Other debtors and assets             EUR         34,304,580.43

   Liquid means                          EUR        199,592,172.44

  Remaining other assets                 EUR          5,844,351.27

   Accruals (assets)                     EUR          5,813,333.27

   Active difference from asset

   offsetting                            EUR             31,018.00

 

 LIABILITIES                             EUR      1,867,406,302.90

  Shareholders' equity                   EUR        828,200,000.00

   Capital                               EUR        100,000,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR        100,000,000.00

   Reserves                              EUR        728,200,000.00

  Provisions                             EUR        577,906,000.00

   Pension provisions and comparable

   provisions                            EUR        289,318,000.00

   Provisions for taxes                  EUR         48,527,000.00

   Other / unspecified provisions        EUR        240,061,000.00

  Liabilities                            EUR        455,785,451.82

   Other liabilities                     EUR        455,785,451.82

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         59,671,054.13

    Liabilities from received advance

    payments                             EUR         37,986,575.59

    Liabililties due to related companiesEUR         49,746,319.22

    Liabilities due to investee companiesEUR             10,617.78

    Unspecified other liabilities        EUR        308,370,885.10

     thereof liabilities from tax /

     financial authorities               EUR          7,013,991.16

     thereof liabilities from social

     security                            EUR          1,210,246.82

  Other liabilities                      EUR          5,514,851.08

   Deferrals (liabilities)               EUR          5,514,851.08

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR      1,547,344,249.54

  Inventory change + own costs (+/-)     EUR        -16,105,554.14

   Inventory change (+/-)                EUR        -27,980,011.07

   Capitalised own costs                 EUR         11,874,456.93

  Other operating income                 EUR         75,890,085.04

  Cost of materials                      EUR        625,879,024.83

   Raw materials and supplies, purchased

   goods                                 EUR        316,844,890.56

   Purchased services                    EUR        309,034,134.27

  Gross result (+/-)                     EUR        981,249,755.61

  Staff expenses                         EUR        302,653,977.11

   Wages and salaries                    EUR        254,979,588.37

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         47,674,388.74

  Total depreciation                     EUR         24,697,404.72

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         24,697,404.72

  Other operating expenses               EUR        335,651,661.73

  Operating result from continuing

  operations                             EUR        318,246,712.05

  Result from participating interests

  (+/-)                                  EUR         20,510,769.51

   Expenses / income from participations EUR         20,510,769.51

    Income from transfer of profits      EUR            124,473.19

    Income from related companies        EUR         20,386,296.32

  Interest result (+/-)                  EUR        -19,418,262.56

   Interest and similar income           EUR          5,291,436.10

    thereof from related companies       EUR            710,536.27

   Interest and similar expenses         EUR         24,709,698.66

    thereof paid to related companies    EUR          1,184,357.18

  Other financial result                 EUR             46,059.03

   Income from securities and loans from

   financial assets                      EUR             46,059.03

  Financial result (+/-)                 EUR          1,138,565.98

  Result from ordinary operations (+/-)  EUR        319,385,278.03

  Income tax / refund of income tax (+/-)EUR        -48,081,003.83

  Other taxes / refund of taxes          EUR           -255,309.56

  Tax (+/-)                              EUR        -48,336,313.39

  Annual surplus / annual deficit        EUR        271,048,964.64

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.62.18

UK Pound

1

Rs.95.70

Euro

1

Rs.70.75

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.