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Report No. : |
302344 |
|
Report Date : |
10.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
LENZING FIBERS GMBH |
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|
|
|
Registered Office : |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
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|
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Country : |
Austria |
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|
|
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Financials (as on) : |
31.12.2013 |
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|
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Date of Incorporation : |
14.12.1994 |
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|
|
|
Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Manufacture of Man-Made Fibres. |
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|
|
|
No. of Employee : |
220 |
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) |
|
Austria |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
AUSTRIA - ECONOMIC OVERVIEW
Austria, with its
well-developed market economy, skilled labor force, and high standard of living,
is closely tied to other EU economies, especially Germany's. Its economy
features a large service sector, a sound industrial sector, and a small, but
highly developed agricultural sector. Following several years of solid foreign
demand for Austrian exports and record employment growth, the international
financial crisis of 2008 and subsequent global economic downturn led to a sharp
but brief recession. Austrian GDP contracted 3.8% in 2009 but saw positive
growth of about 2% in 2010 and 2.7% in 2011. Growth fell to 0.6% in 2012.
Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly
because the government subsidized reduced working hour schemes to allow
companies to retain employees. The 2012 unemployment rate of 4.3% was the lowest
within the EU. Stabilization measures, stimulus spending, and an income tax
reform pushed the budget deficit to 4.5% in 2010 and 2.6% in 2011, from only
about 0.9% in 2008. The international financial crisis of 2008 caused
difficulties for Austria's largest banks whose extensive operations in central,
eastern, and southeastern Europe faced large losses. The government provided
bank support - including in some instances, nationalization - to support
aggregate demand and stabilize the banking system. Austria's fiscal position
compares favorably with other euro-zone countries, but it faces external risks,
such as Austrian banks' continued exposure to Central and Eastern Europe as
well as political and economic uncertainties caused by the European sovereign
debt crisis. In 2011 the government attempted to pass a constitutional
amendment limiting public debt to 60% of GDP by 2020, but it was unable to
obtain sufficient support in parliament and instead passed the measure as a
simple law. In March 2012, the Austrian parliament approved an austerity
package consisting of a mix of expenditure cuts and new revenues that will
bring public finances into balance by 2016. In 2012, the budget deficit rose to
3.1% of GDP.
|
Source
: CIA |
|
Company name: |
LENZING FIBERS GMBH |
|
Status: |
active company |
|
Locations: |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
|
Phone: |
0043 (3325) 4100 - 100 |
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Fax: |
0043 (3325) 4100 - 400 |
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E-mail: |
fibers@lenzing.com |
|
E-mail: |
lfgoffice@lenzing.com |
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Internet: |
http://www.lyocell.at |
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Internet: |
http://www.lenzing.com |
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Activities: |
Önace 20600 100% Manufacture of man-made fibres |
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General Assessment: |
Model: CompanyScore |
|
Probability of Default (Basel II): |
0,07% Very low risk |
|
comparison: |
The company is better than industry average. |
|
Recommendation: |
In respect to solvency reasons, there is nothing to say against an
establishment of a business relationship. |
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Detail Assessment: |
Payments are sometimes made using cash discounts or according to
conditions. |
|
|
Company is part of a group and therefore cannot be evaluated
separately. Financial situation in the group is in order. |
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Year of incorporation: |
1994 |
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Activities: |
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Type of company: |
Manufacturing |
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Legal form: |
limited liability company since 1994-12-14 |
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companies' house number: |
FN 129218 b Eisenstadt 1994-12-16 |
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Trade names: |
TENCEL |
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VAT number: |
ATU 37904808 |
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number - Austrian National Bank: |
2410419 |
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Export |
Country |
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|
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Export |
world-wide |
|
2015 |
|
||
|
total turnover (total sales) |
2014 |
EUR 110.000.000,00 |
(estimated) |
|
total turnover (total sales) |
2013 |
EUR 117.637.260,51 |
(exact) |
|
total turnover (total sales) |
2012 |
EUR 145.440.706,98 |
(exact) |
|
total turnover (total sales) |
2011 |
EUR 139.279.456,45 |
(exact) |
|
total turnover (total sales) |
2010 |
EUR 89.054.626,10 |
(exact) |
|
total employees |
2015 |
220 |
(approx.) |
|
white collar workers |
2015 |
65 |
(approx.) |
|
blue collar workers |
2015 |
150 |
(approx.) |
|
apprentices |
2015 |
5 |
(approx.) |
|
total investments |
2013 |
EUR 1.466.243,08 |
(exact) |
|
total company vehicles |
2015 |
2 |
(approx.) |
|
cars |
2015 |
2 |
(approx.) |
|
firm (style): |
|
19 Lenzing Fibers GmbH |
|
legal form: |
|
1 Gesellschaft mit
beschränkter Haftung |
|
registered
office: |
|
1 politischer Gemeinde
Heiligenkreuz im Lafnitztal |
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business adress: |
|
3 Industriegelände 1 |
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capital: |
|
4 ATS 5.000.000 |
|
reference date
annual accounts: |
|
1 31. Dezember |
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annual accounts: |
|
34 zum 31.12.2013
eingereicht am 09.07.2014 |
|
power of
representation: |
|
1 Die Generalversammlung bestimmt,
wenn mehrere Geschäfts- |
|
proxy: |
|
E Dipl.Ing. Dr. Dieter
Eichinger, geb. 11.06.1958 |
|
managing
director: |
|
J DI Dr. Bernd Andreas Zauner,
geb. 28.01.1968 |
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shareholder: |
|
B Lenzing Aktiengesellschaft |
|
general table: |
|
Landesgericht Eisenstadt |
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Registration number of real estate
958 Cadastral register 31109 Heiligenkreuz im Lafnitztal
B Number and date of entry 2474/2010 Status of
2014-12-22 |
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Part A - type of
real estate : |
|
GST-NR G BA (NUTZUNG) FLäCHE GST-ADRESSE |
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Part B -
ownership details : |
|
3 ANTEIL: 1/1 |
|
Part C -
registered charges : |
|
2 a 2439/1997 |
|
Surname |
Date of birth |
Address |
Executive positions |
Further executive positions (as registered in the companies' house) |
|
Dipl-Ing.Dr. Bernd Andreas Zauner |
1968-01-28 |
8382 Maria Bild Maria Bild 165 |
manager |
0 |
|
Dipl-Ing.Dr. Dieter Eichinger |
1958-06-11 |
8280 Fürstenfeld Übersbach 208 |
individual signing clerk |
1 |
|
|
2013-12-31 |
|
Franchises, patents, licences, trademarks and similar rights and
advantages |
1.068.952,52 |
|
Sum intangible assets |
1.068.952,52 |
|
Land and leasehold rights with buildings thereon including building on
land owned by third parties |
24.660.513,39 |
|
Other operating and business equipment |
852.007,48 |
|
Technical plants and machines |
59.760.158,76 |
|
Advanced payments and constructions in progress |
1.499.642,84 |
|
Sum tangible assets |
86.772.322,47 |
|
Shares on related firms |
35.252.938,61 |
|
Other loans |
1.681,66 |
|
Sum financial assets |
35.254.620,27 |
|
Sum fixed assets |
123.095.895,26 |
|
Raw-, auxiliary materials and supplies |
11.545.264,83 |
|
Finished products |
5.652.707,00 |
|
Sum stock |
17.197.971,83 |
|
Claims from delivered goods and performed services |
11.857.123,10 |
|
Claims against related firmes Claims against companies with
shareholding relationship |
10.705.552,15 |
|
Other claims and assets |
5.260.012,46 |
|
Sum claims |
27.822.687,71 |
|
Cash on hand, cheques and bank deposits |
9.257.277,58 |
|
Sum cash and bank |
9.257.277,58 |
|
Sum current assets |
54.277.937,12 |
|
Deferred charges |
2.846,25 |
|
Sum deferred charges |
2.846,25 |
|
Assets |
177.376.678,63 |
|
Subscribed/declared capital |
363.364,17 |
|
Not committed capital reserves |
63.960.691,86 |
|
Legal reserves |
72.672,84 |
|
Balance sheet profit/balance sheet loss |
33.844.237,84 |
|
Thereof profit/loss carried forward |
23.224.349,98 |
|
Sum equity capital |
98.240.966,71 |
|
Other reserves before taxes |
7.647.593,28 |
|
Sum reserves before taxes |
7.647.593,28 |
|
Investment contributions |
19.557.379,60 |
|
Sum floor capital |
19.557.379,60 |
|
Reserves for severance pays |
1.941.988,00 |
|
Tax reserves |
118.818,31 |
|
Other reserves |
5.251.073,03 |
|
Sum reserves |
7.311.879,34 |
|
Liabilities against credit institutes |
4.000.000,00 |
|
Limited partnership |
21.801.850,25 |
|
Received advanced payments for orders |
2.317,11 |
|
Liabilities from delivered goods and performed services |
2.886.850,58 |
|
Liabilities against related firms |
7.691.206,03 |
|
Other liabilities |
736.635,73 |
|
Other loans |
7.500.000,00 |
|
Sum liabilities |
44.618.859,70 |
|
Liabilities |
177.376.678,63 |
|
Balance sheet sum |
177.376.678,63 |
|
|
2013-12-31 |
|
Gross sales |
117.637.260,51 |
|
Increase or decrease in finished and unfinished goods and in service
claims |
179.897,81 |
|
Other manufacturing costs capitalized |
32.174,31 |
|
Total turnover or gross profit |
117.849.332,63 |
|
Income from dissolution of reserves |
1.855.164,44 |
|
Other operating profits |
5.485.745,59 |
|
Other operating profits totally |
7.340.910,03 |
|
Costs for obtained services |
-16.209.766,18 |
|
Material costs |
-49.317.595,21 |
|
Costs for obtained services totally |
-65.527.361,39 |
|
Wages |
-5.931.381,46 |
|
Salaries |
-4.226.718,60 |
|
Costs for severance pays |
-802.985,71 |
|
Costs for old age pension |
-37.027,17 |
|
Legal fringe benefits and other payments depending on salaries |
-2.871.276,41 |
|
Other social fringe benefits |
-30.959,58 |
|
Personnel expenses totally |
-13.900.348,93 |
|
Depreciation of intangible assets, tangible assets,activated expenses
for the set up and expansion of business operation |
-7.331.177,73 |
|
Depreciation tangible assets / intangible assets totally |
-7.331.177,73 |
|
Other operating costs |
-23.751.817,74 |
|
Other taxes |
-28.515,52 |
|
Total costs |
-23.780.333,26 |
|
Operating result totally |
14.651.021,35 |
|
Interest income, securties income and similar income |
20.809,17 |
|
Interest and similar disbursements |
-473.379,28 |
|
Financial expenses |
-18,34 |
|
Financial profits totally |
-452.588,45 |
|
Results from usual business activity totally |
14.198.432,90 |
|
Taxes on income and profits |
-3.586.744,76 |
|
Taxes on income and profits totally |
-3.586.744,76 |
|
Annual surplus/annual deficit totally |
10.611.688,14 |
|
Dissolution reserves before taxes |
8.199,72 |
|
Reserves movements totally |
8.199,72 |
|
Annual profit/annual loss totally |
10.619.887,86 |
|
Profit and loss carried forward from previous year |
23.224.349,98 |
|
Transfer of profits totally |
23.224.349,98 |
|
B/S profit/ B/S loss from profit and loss account |
33.844.237,84 |
|
|
2013 |
|
Cash flow II |
17.942.865,87 |
|
Debt amortisation period |
2,37 |
|
Bank indebtedness |
6,48 |
|
Equity capital share |
70,72 |
|
Social capital share |
1,09 |
|
Fixed assets coverage |
103,48 |
|
Net profit ratio |
12,04 |
|
Capital turnover |
0,66 |
|
Return on investment |
8,27 |
|
Cash flow in % of operating performance |
15,22 |
|
Cash flow I |
21.529.610,63 |
|
Gross productivity |
8,47 |
|
Net productivity |
3,76 |
|
Operating performance |
117.849.332,63 |
|
Inventories in % of operating performance |
14,59 |
|
Gross profit |
52.321.971,24 |
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Type |
Locations |
Description |
|
|
|
E-mail |
|
operational |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
registered office |
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|
|
|
|
operational |
Industriegelände 1, A-7561 Heiligenkreuz Lafnitztal |
registered headquarters, owned property |
|
|
|
fibers@lenzing.com lfgoffice@lenzing.com |
|
Company name |
Postal code |
Stake in % |
KSV-number |
Companies House |
|
Shares in this company are held by: |
||||
|
Lenzing Fibers Holding GmbH |
Werkstraße 2, A-4860 Lenzing |
99.98 % 2006-01-31 |
1.318.238 |
FN 243282 v |
|
Lenzing Aktiengesellschaft |
Werkstraße 2, A-4860 Lenzing |
0.02 % 1996-09-24 |
29.861 |
FN 96499 k |
|
|
||||
|
This company holds 100% of the shares in: |
||||
|
Lenzing Holding GmbH |
Werkstraße 2, A-4860 Lenzing |
100 % 2003-12-30 |
1.318.237 |
FN 243281 t |
|
|
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|
Affiliated companies and further participations: |
||||
|
Gemeinnützige Siedlungsgesellschaft m.b.H. für den Bezirk Vöcklabruck |
Atterseestraße 21, A-4860 Lenzing |
|
113.864 |
FN 94451 z |
|
Pulp Trading GmbH |
Werkstraße , A-4860 Lenzing |
|
181.685 |
FN 107873 m |
|
Energie- und Medienzentrale Heiligenkreuz GmbH |
Berggasse 7, A-1090 Wien |
|
481.605 |
FN 52748 x |
|
Asia Fiber Engineering GmbH |
Kolingasse 1/1/5, A-1090 Wien |
|
735.291 |
FN 140829 b |
|
|
|
|
|
Banker |
Bank sort code |
Type of banking connection |
|
UniCredit Bank Austria AG, 1011 Wien |
12000 |
main bank connection |
|
HYPO-BANK BURGENLAND Aktiengesellschaft, 7001 Eisenstadt |
51000 |
secondary banking connection |
|
Year of incorporation: |
1994 |
|
Date of registration: |
1994-12-16 |
|
Change of company name: |
||
|
From |
To |
Company name |
|
2005-04-29 |
|
Lenzing Fibers GmbH |
|
|
2005-04-29 |
Lenzing Lyocell GmbH |
|
Former executives: |
|||
|
From |
To |
Function |
Name |
|
2004-12-28 |
2009-01-03 |
manager |
Dipl-Ing.Dr. Wolfram Kalt |
|
2007-12-22 |
2009-11-04 |
individual signing clerk |
Dipl-Ing. Friedrich Weninger |
|
2001-01-20 |
2004-12-28 |
joint signing clerk |
Dipl-Ing.Dr. Wolfram Kalt |
|
|
2009-11-04 |
joint signing clerk |
Dipl-Ing.Dr. Dieter Eichinger |
|
|
2000-10-14 |
manager |
Dipl-Ing.Dr. Ingo Marini |
|
|
2004-12-28 |
manager |
Dkfm. Rudolf Hauptmann |
|
1999-01-29 |
2004-03-11 |
manager |
Dr. Franz Raninger |
|
Former shareholdings: |
||
|
From |
To |
Name |
|
2003-12-30 |
2005-09-08 |
Lenzing Fibers Holding GmbH |
|
1994-12-17 |
2003-09-18 |
Lenzing Lyocell GmbH & Co KG |
|
Mergers: |
||
|
Date |
Function |
Name |
|
2003-09-29 |
merged with |
Lenzing Lyocell GmbH & Co KG |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.40 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.