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Report No. : |
301734 |
|
Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VOGTLÄNDISCHE
HEIMTEXTILIEN GMBH |
|
|
|
|
Registered Office : |
Hauptstr.
30 D 08606 Tirpersdorf |
|
|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
14.02.1958 |
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|
|
|
Legal Form : |
Private limited company |
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|
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Line of Business : |
|
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|
|
|
No. of Employees : |
77 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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, 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 |
VOGTLÄNDISCHE HEIMTEXTILIEN GMBH
Company Status: active
Hauptstr. 30
D 08606 Tirpersdorf
Telephone:037463/8420
Telefax: 037463/84230
Homepage: www.vhg.de
E-mail: kontakt@vhg.de
Trade name: "VHG Vogtländische Heimtextilien"
VAT no.: DE141245287
Tax ID number: 223/121/00065
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 14.02.1958
Shareholders'
agreement: 22.10.1991
Registered on: 15.11.1991
Commercial Register: Local court 09112
Chemnitz
under: HRB 3489
Share capital: EUR 517,150.00
Shareholder:
Rudolf Rudert
Brotenfelder Str. 13
D 08606 Tirpersdorf
born: 29.06.1944
Share: EUR 193,800.00
Shareholder:
Amandus Prochnau
Bachstr. 11
D 08606 Tirpersdorf
born: 12.02.1939
Share: EUR 193,750.00
Shareholder:
BSV-Beteiligungsgesellschaft der Sparkasse
Vogtland mbH
Dr.-Friedrichs-Str. 37
D 08606 Oelsnitz
Legal form: Private
limited company
Share capital: EUR 5,000,000.00
Share: EUR 129,600.00
Registered on: 09.10.1998
Reg. data: 09112
Chemnitz, HRB 16093
Manager:
Cindy Stucke
Brotenfelder Str. 13a
D 08606 Tirpersdorf
having sole power of
representation
born: 03.09.1973
née: Rudert
Profession: Balance sheet
accountant
Marital status: married
Manager:
Thomas Prochnau
Hauptstr. 34
D 08606 Tirpersdorf
having sole power of
representation
born: 06.04.1971
Profession: licenced
technician
14.02.1958 - 1971 PGH Heimtextilien
Hauptstr. 30
D 08606 Tirpersdorf
Other legal form
1972 - 21.10.1991 VEB Tischdeckenwerk Kottengrün
Betriebsteil
Tirpersdorf
Hauptstr. 30
D 08606 Tirpersdorf
Other legal form
Main industrial sector
13910
Manufacturing of knitted and crocheted fabrics
Secondary industrial sector
1392
Manufacture of made-up textiles (except apparel)
46162 Agents involved in the sale of soft
furnishings
Payment
experience: within periods customary in
this trade
Negative information:We have no negative
information at hand.
Balance sheet grade: 3.5 The balance sheet grade ranges from
1.0 to 5.0. It is based on the
following ratios:
equity ratio,
liquidity ratio
and return on total
capital from the
balance sheets
published in the
Federal Gazette.
The balance sheet
grade forms part
of the Solvency
Rating[NG].
Balance sheet year: 2013
Type of ownership: proprietor
Share: 100.00 %
Address Hauptstr.
30
D 08606 Tirpersdorf
Land register documents were not available.
Principal bank
COMMERZBANK VORMALS DRESDNER BANK, 08507
PLAUEN, VOGTL
Sort. code: 87080000, Account no.: 690055000
BIC: DRESDEFF870, IBAN: DE95870800000690055000
Further banks
SPARKASSE VOGTLAND, 08606 OELSNITZ /VOGTL.
Sort. code: 87058000, Account no.: 3725000092
BIC: WELADED1PLX, IBAN: DE07870580003725000092
COMMERZBANK, 09004 CHEMNITZ, SACHS
Sort. code: 87040000, Account no.: 500256300
BIC: COBADEFFXXX, IBAN: DE94870400000500256300
DEUTSCHE BANK PRIVAT UND GESCHÄFTSKUNDEN,
08505 PLAUEN, VOGTL
Sort. code: 87070024, Account no.: 294164900
BIC: DEUTDEDBCHE, IBAN: DE77870700240294164900
VR BANK HOF, 95028 HOF, SAALE
Sort. code: 78060896, Account no.: 3511715
BIC: GENODEF1HO1, IBAN: DE36780608960003511715
Turnover: 2013 EUR 6,188,420.00
2014 EUR 6,200,000.00
Profit: 2013 EUR 230,856.00
further business figures:
Equipment: *EUR 731,000.00
Ac/ts receivable: EUR 264,392.00
Liabilities: EUR 1,391,600.00
Employees:
77
- thereof permanent
staff:
73
- Part-time employees: 4
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 [%]: 23.22
Liquidity ratio: 0.23
Return on total capital
[%]: 0.72
Balance sheet ratios
01.01.2012 - 31.12.2012
Equity ratio [%]: 20.39
Liquidity ratio: 0.24
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 29.09
Liquidity ratio: 0.19
Return on total capital
[%]: 2.67
Balance sheet ratios
01.01.2010 - 31.12.2010
Equity ratio [%]: 26.41
Liquidity ratio: 0.15
Return on total capital
[%]: 14.66
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: 01.01.2013
- 31.12.2013
ASSETS EUR 3,367,979.97
Fixed assets EUR 1,255,201.61
Intangible assets EUR 35,636.00
Concessions, licences, rights EUR 35,636.00
Tangible assets EUR 1,219,565.61
Land / similar
rights EUR 900,826.59
Plant / machinery EUR 276,136.51
Other tangible assets /
fixtures and
fittings EUR 42,602.51
Current assets EUR 2,098,337.96
Stocks EUR 1,579,562.93
Raw materials,
consumables and
supplies EUR 890,643.02
Finished goods / work in
progress EUR 688,919.91
Accounts receivable EUR 264,391.79
Trade debtors EUR 249,285.45
Other debtors and
assets EUR 15,106.34
Liquid means EUR 254,383.24
Remaining other
assets EUR 14,440.40
Accruals (assets) EUR 14,440.40
LIABILITIES EUR 3,367,979.97
Shareholders' equity EUR 782,087.02
Capital EUR 517,150.00
Subscribed capital
(share capital) EUR 517,150.00
Reserves EUR 34,080.89
Retained earnings /
revenue reserves EUR
34,080.89
Balance sheet profit/loss
(+/-) EUR 230,856.13
Balance sheet profit /
loss EUR 230,856.13
Items between
shareholders' equity and
debt capital EUR 1,096,229.70
Mezzanine financing EUR 1,096,229.70
Contributions of silent partners EUR 1,096,229.70
Provisions EUR 98,062.78
Other / unspecified
provisions EUR 98,062.78
Liabilities EUR 1,391,600.47
Financial debts EUR 421,006.32
Liabilities due to
banks EUR 421,006.32
Other liabilities EUR 970,594.15
Trade creditors (for IAS
incl. bills
of exchange) EUR 441,521.56
Unspecified other
liabilities EUR 529,072.59
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 6,188,420.22
Inventory change + own
costs (+/-) EUR -50,862.08
Inventory change
(+/-) EUR -50,862.08
Other operating
income EUR 140,161.37
Cost of materials EUR 3,054,643.31
Raw materials and
supplies, purchased
goods EUR 3,012,648.68
Purchased services EUR 41,994.63
Gross result (+/-) EUR 3,223,076.20
Staff expenses EUR 1,361,268.56
Wages and salaries EUR 1,127,517.08
Social security
contributions and
expenses for pension
plans and
benefits EUR 233,751.48
Total depreciation EUR 172,406.36
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 172,406.36
Other operating
expenses EUR 1,486,324.34
Operating result from
continuing
operations EUR 203,076.94
Interest result (+/-) EUR -171,077.19
Interest and similar income EUR 8,019.27
Interest and similar
expenses EUR 179,096.46
Financial result
(+/-) EUR -171,077.19
Result from ordinary
operations (+/-) EUR 31,999.75
Extraordinary income EUR 206,613.33
Extraordinary result
(+/-) EUR 206,613.33
Other taxes / refund of
taxes EUR -7,756.95
Tax (+/-) EUR -7,756.95
Annual surplus / annual
deficit EUR 230,856.13
TYPE OF BALANCE SHEET: COMPANY BALANCE SHEET
FINANCIAL YEAR: 01.01.2012 - 31.12.2012
ASSETS EUR 3,562,274.98
Fixed assets EUR 1,380,294.61
Intangible assets EUR 48,503.00
Tangible assets EUR 1,331,791.61
Current assets EUR 2,153,718.30
Stocks EUR 1,541,162.81
Accounts receivable EUR 305,373.30
Liquid means EUR 307,182.19
Remaining other
assets EUR 28,262.07
Accruals (assets) EUR 28,262.07
LIABILITIES EUR 3,562,274.98
Shareholders' equity EUR 551,230.89
Capital EUR 517,150.00
Subscribed capital
(share capital) EUR 517,150.00
Reserves EUR 34,080.89
Retained earnings /
revenue reserves EUR
34,080.89
Items between shareholders'
equity and
debt capital EUR 1,154,229.70
Mezzanine financing EUR 1,154,229.70
Contributions of silent
partners EUR 1,154,229.70
Provisions EUR
94,666.38
Liabilities EUR 1,762,148.01
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
|
|
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
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 |
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|
-- |
NB |
New Business |
-- |
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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.