MIRA INFORM REPORT

 

 

Report No. :

327140

Report Date :

12.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CAVERION DEUTSCHLAND GMBH

 

 

Registered Office :

Riesstr. 8, D 80992 München

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

05.02.2008

 

 

Com. Reg. No.:

HRB 189657

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

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

·         Manufacture of non-domestic cooling and ventilation equipment

·         Plumbing, heat and air-conditioning installation

·         Other construction installatio

 

 

No. of Employees :

2,220

 


 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

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

A1

 

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, 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 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. 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 accounts for 34% of total energy consumption, 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.

 

Source : CIA

 

Note

 

Your inquiry: Caverion Deutschland GmbH Busi ness Unti Krantz, Uersfeld 24, D 52072 Aachen

 

The subject of your inquiry is a branch. We are reporting on the headquarters.

 

 

Company Name and address

 

CAVERION DEUTSCHLAND GMBH

 

Company Status:      active

                      Riesstr. 8

                      D 80992 München

                      Telephone:089/374288-500

                      Telefax:  089/374288-520

                      Homepage: www.caverion.de

                      E-mail:   info@caverion.de

 

VAT no.:                       DE815012867

 

Tax ID number:              143/123/71139

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      05.02.2008

 Shareholders'

 agreement:                   05.02.2008

 Registered on:             28.12.2010

 Commercial Register:   Local court 80333 München

 under:                          HRB 189657

 

 

Share capital                      

 

EUR             25,000.00

 

 

Shareholder:

                      Caverion GmbH

                      Riesstr. 8

                      D 80992 München

                      Legal form: Private limited company

                      Share capital:     EUR          2,025,000.00

                      Share:             EUR             25,000.00

                      Registered on: 21.03.2011

                      Reg. data: 80333 München, HRB 191136

 Manager:

                      Werner Kühn

                      D 84166 Adlkofen

                      born: 25.09.1959

                      Profession: information technologist in the

                      economics field

 Manager:

                      Albert Vonnahme

                      D 51503 Rösrath

                      authorized to jointly represent the company

                      born: 30.10.1954

                      Profession: Fully qualified management

                      expert

 Member of the Supervisory Board:

                      Karl-Walter Schuster

                      Edelweißstr. 6

                      D 82194 Gröbenzell

                      born: 01.01.1950

                      Profession: Fully qualified engineer

 Member of the Supervisory Board:

                      Ulrich Geier

                      D 94508 Schöllnach

                      born: 09.07.1966

 Member of the Supervisory Board:

                      Thomas Gussner

                      A  Linz

                      born: 14.11.1969

                      Nationality: Austrian

 Member of the Supervisory Board:

                      Sakari Tapio Toikkanen

                      SF  Espoo

                      Nationality: Finnish

                      Marital status: unknown

 Member of the Supervisory Board:

                      Jonne Tuomas Heino

                      SF  Espoo

                      Nationality: Finnish

                      Marital status: unknown

 Member of the Supervisory Board:

                      Manfred Simmet

                      A  Laakirchen

                      Nationality: Austrian

                      Marital status: unknown

 Member of the Supervisory Board:

                      Susanne Thomas

                      D 71638 Ludwigsburg

                      Marital status: unknown

 Member of the Supervisory Board:

                      Angelika Lorenz-Dreßen

                      D 52134 Herzogenrath

                      Marital status: unknown

 Member of the Supervisory Board:

                      Andrea Lawrenz

                      D 25358 Horst

                      Marital status: unknown

 Member of the Supervisory Board:

                      Helmut Hahs

                      D 45128 Essen

                      Marital status: unknown

 Proxy:

                      Holger Schade

                      Silcherstr. 17

                      D 73663 Berglen

                      authorized to jointly represent the company

                      born: 11.07.1966

                      Marital status: married

 Proxy:

                      Manfred Kölbl

                      Schwarzach 20

                      D 94264 Langdorf

                      authorized to jointly represent the company

                      born: 09.10.1969

                      Profession: Mechanical engineer

 Proxy:

                      Kurt Hüttinger

                      Schulstr. 3a

                      D 94469 Deggendorf

                      authorized to jointly represent the company

                      born: 10.09.1964

 Proxy:

                      Martin Kimmerl

                      Unteres Feld 4a

                      D 94469 Deggendorf

                      authorized to jointly represent the company

                      born: 05.10.1966

 Proxy:

                      Johann König

                      Kirchdorfer Str. 1

                      D 94261 Kirchdorf

                      authorized to jointly represent the company

                      born: 15.09.1966

                      Profession: graduate engineer

 Proxy:

                      Michaela Stefanie Riegert

                      D 80333 München

                      authorized to jointly represent the company

                      born: 22.01.1973

                      née: Single

 Proxy:

                      Gerald Schreiber

                      Tannenstr. 54

                      D 92442 Wackersdorf

                      authorized to jointly represent the company

                      born: 28.05.1962

 Proxy:

                      Michael Giffels

                      D 63543 Neuberg

                      authorized to jointly represent the company

                      born: 13.11.1974

 Proxy:

                      Herald Domin

                      D 44787 Bochum

                      authorized to jointly represent the company

                      born: 24.04.1965

 Proxy:

                      Ansbert Wallhorn

                      D 40789 Monheim

                      authorized to jointly represent the company

                      born: 10.02.1961

 Proxy:

                      Dirk Kemen

                      D 10115 Berlin

                      authorized to jointly represent the company

                      born: 16.02.1967

 Proxy:

                      Michael Ziegler

                      D 50259 Pulheim

                      authorized to jointly represent the company

                      born: 17.05.1968

 Proxy:

                      Frank Zulauf

                      D 20095 Hamburg

                      authorized to jointly represent the company

                      born: 26.07.1967

 Proxy:

                      Frieder Czyborra

                      D 01097 Dresden

                      authorized to jointly represent the company

                      born: 04.04.1960

 Proxy:

                      Christian Kopfinger

                      D 94127 Neuburg

                      authorized to jointly represent the company

                      born: 20.03.1973

 Proxy:

                      Ulrich Geier

                      D 94508 Schöllnach

                      authorized to jointly represent the company

                      born: 09.07.1966

 Proxy:

                      Stefan Gores

                      D 52062 Aachen

                      authorized to jointly represent the company

                      born: 15.07.1962

 Proxy:

                      Peter Möbius

                      D 06406 Bernburg

                      authorized to jointly represent the company

                      born: 17.02.1967

 Proxy:

                      Patrik Uharcek

                      D 94469 Deggendorf

                      authorized to jointly represent the company

                      born: 01.11.1973

 Proxy:

                      Paula Vesanto

                      SF  Helsinki

                      authorized to jointly represent the company

                      born: 08.03.1959

                      Nationality: Finnish

 Proxy:

                      Herbert Friedrich Likar

                      D 71229 Leonberg

                      authorized to jointly represent the company

                      born: 17.09.1958

 Proxy:

                      Martin Hofmann

                      D 21217 Seevetal

                      authorized to jointly represent the company

                      born: 07.11.1972

 Proxy:

                      Patrick Hartmann

                      D 84036 Kumhausen

                      authorized to jointly represent the company

                      born: 30.08.1967

 Proxy:

                      Jürgen Stein

                      D 10115 Berlin

                      authorized to jointly represent the company

                      born: 14.12.1959

 Proxy:

                      Claus Schweinheim

                      D 50667 Köln

                      authorized to jointly represent the company

                      born: 29.09.1971

 Proxy:

                      Chafik El-Kabali

                      D 52062 Aachen

                      authorized to jointly represent the company

                      born: 03.01.1982

 

 

COMPANY HISTORY

 

 05.02.2008 - 10.07.2008  Marmor 226. V V GmbH

                          Theresienstr. 6-8

                          D 80333 München

                          Private limited company

 10.07.2008 - 09.10.2008  YIT Building Systems Germany GmbH

                          Theresienstr. 6-8

                          D 80333 München

                          Private limited company

 10.10.2008 - 28.12.2010  YIT Germany GmbH (AG Deggendorf, HRB

                          3201)

                          Gstocketwiesenstr. 9

                          D 94469 Deggendorf

                          Private limited company

 28.12.2010 - 25.06.2013  YIT Germany GmbH

                          Riesstr. 25

                          D 80992 München

                          Private limited company

 25.06.2013 - 04.07.2014  Caverion Deutschland GmbH

                          Riesstr. 25

                          D 80992 München

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 22.08.2012 - 08.08.2013  Manager

                          Ralf Lutz

                          D 90537 Feucht

 22.08.2012 - 08.07.2013  Manager

                          Dr. Klaus Hermsdorf

                          D 01324 Dresden

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

2651    Manufacture of instruments and appliances for measuring, testing and navigation

2825    Manufacture of non-domestic cooling and ventilation equipment

4322    Plumbing, heat and air-conditioning installation

4329    Other construction installation

 

 

BRANCHES AND FACTORIES

 

 Works:

                      Caverion Deutschland GmbH

                      Roßbachstr. 38

                      D 70499 Stuttgart

                      TEL.: 0711/6334-0

                      FAX.: 0711/6334-1133

 Branch:

                      Caverion Deutschland GmbH

                      Dorfstr. 9a

                      D 13057 Berlin

                      TEL.: 030-9369600

                      FAX.: 030-936960-90

 Branch:

                      Caverion Deutschland GmbH

                      Sportallee 2

                      D 22335 Hamburg

                      TEL.: 040/633180

                      FAX.: 040/63318380

 Branch:

                      Caverion Deutschland GmbH

                      Grenzstr. 21

                      D 06112 Halle

                      TEL.: 0345/564860

                      FAX.: 0345/5648690

 Branch:

                      Caverion Deutschland GmbH

                      Von-Pistorius-Str. 14 + 14a

                      D 70188 Stuttgart

                      TEL.: 0711/48907680

                      FAX.: 0711/489076825

 Branch:

                      Caverion Deutschland GmbH

                      Mergenthalerallee 10-12

                      D 65760 Eschborn

                      TEL.: 069/74305510

 Branch:

                      Caverion Deutschland GmbH

                      Einsteinstr. 7

                      D 59423 Unna

                      TEL.: 02303/902930

 Branch:

                      Caverion Deutschland GmbH

                      Im Teelbruch 126 OT Kettwig

                      D 45219 Essen

                      TEL.: 02054/93856-0

 Branch:

                      Caverion Deutschland GmbH

                      Am Pfaffenfleck 3

                      D 95448 Bayreuth

 Branch:

                      Caverion Deutschland GmbH

                      Dr.-Ayrer-Str. 12

                      D 03172 Guben

 Branch:

                      Caverion Deutschland GmbH

                      Köhlerstr. 14

                      D 01239 Dresden

                      TEL.: 0351/48484111

                      FAX.: 0351/4848419100

 Branch:

                      Caverion Deutschland GmbH

                      Yorckstr. 20

                      D 93049 Regensburg

                      TEL.: 0941/2978060

                      FAX.: 0941/29780-88

 Branch:

                      Caverion Deutschland GmbH

                      Aschauer Str. 32

                      D 81549 München

                      TEL.: 089/6510860

 Branch:

                      Caverion Deutschland GmbH

                      Uersfeld 24

                      D 52072 Aachen

                      TEL.: 0241/4340

                      FAX.: 0241/434500

 Branch:

                      Caverion Deutschland GmbH

                      Walter-Köhn-Str. 1c

                      D 04356 Leipzig

                      TEL.: 0341/266962-0

                      FAX.: 0341/266962-29

 Branch:

                      Caverion Deutschland GmbH

                      Krantzstr. 7

                      D 52070 Aachen

 Branch:

                      Caverion Deutschland GmbH

                      Moosweg 2

                      D 51377 Leverkusen

 Branch:

                      Caverion Deutschland GmbH

                      Heppenheimer Str. 27-29

                      D 68309 Mannheim

 Branch:

                      Caverion Deutschland GmbH

                      Daimlerstr. 28

                      D 72793 Pfullingen

 Branch:

                      Caverion Deutschland GmbH

                      Lise-Meitner-Allee 2

                      D 44801 Bochum

 Branch:

                      Caverion Deutschland GmbH

                      Max-Planck-Str. 21

                      D 63303 Dreieich

                      TEL.: 06103/3036-0

                      FAX.: 06103/3036-140

 Branch:

                      Caverion Deutschland GmbH

                      Dürener Str. 401b

                      D 50858 Köln

 Branch:

                      Caverion Deutschland GmbH

                      Gstocketwiesenstr. 9

                      D 94469 Deggendorf

                      TEL.: 0991/31040

                      FAX.: 0991/310488100

 Branch:

                      Caverion Deutschland GmbH

                      Schillerstr. 16

                      D 84066 Mallersdorf-Pfaffenberg

 Branch:

                      Caverion Deutschland GmbH

                      Fuggerstr. 32

                      D 84561 Mehring

 Branch:

                      Caverion Deutschland GmbH

                      Schleifweg 37

                      D 90409 Nürnberg

 Branch:

                      Caverion Deutschland GmbH

                      Komturstr. 18

                      D 12099 Berlin

 Branch:

                      Caverion Deutschland GmbH

                      Blasewitzer Str. 80

                      D 01307 Dresden

                      TEL.: 0351/20290

 Branch:

                      Caverion Deutschland GmbH

                      Bergstr. 37

                      D 99092 Erfurt

 Branch:

                      Caverion Deutschland GmbH

                      In den Weiden 3

                      D 99090 Erfurt

 Branch:

                      Caverion Deutschland GmbH

                      Am St.-Niclas-Schacht 13

                      D 09599 Freiberg

 Branch:

                      Caverion Deutschland GmbH

                      Oldenburger Allee 25a

                      D 30659 Hannover

 Branch:

                      Caverion Deutschland GmbH

                      Borsigstr. 9

                      D 38446 Wolfsburg

 

 

FINANCIAL INFORMATION

 

Payment experience:  within periods customary in this trade

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2013

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Riesstr. 8

                                    D 80992 München

 

Land register documents were not available.

 

 

BANKERS

 

SEB MERCHANT BANKING, 60283 FRANKFURT AM MAIN

Sort. code: 51220200, Account no.: 63698005

BIC: ESSEDEFFXXX, IBAN: DE30512202000063698005

 

 

FINANCIAL FIGURES

 

 Turnover:            2013               EUR        430,499,391.00

 Profit:              2013               EUR         -8,603,702.00

 Equipment:                              EUR          4,596,564.00

 Ac/ts receivable:                       EUR        132,731,834.00

 Liabilities:                            EUR         81,344,129.00

 Real estate of the firm:                EUR             34,334.00

 Employees:                                                  2,220

 - thereof permanent staff:                                  2,201

 - Temporary workers:                                           19

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                -10.07

 Liquidity ratio:                   1.57

 Return on total capital [%]:      -6.20

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                -15.24

 Liquidity ratio:                   2.21

 Return on total capital [%]:      -3.27

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                -23.47

 Liquidity ratio:                   2.36

 Return on total capital [%]:       2.80

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                -24.82

 Liquidity ratio:                   1.41

 Return on total capital [%]:      -9.27

 

 

 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        164,049,577.00

  Fixed assets                           EUR         29,080,231.00

   Intangible assets                     EUR         22,668,963.00

    Concessions, licences, rights        EUR          4,580,440.00

    Goodwill                             EUR         18,088,523.00

   Tangible assets                       EUR          6,250,680.00

    Land / similar rights                EUR             34,334.00

    Plant / machinery                    EUR          1,619,782.00

    Other tangible assets / fixtures and

    fittings                             EUR          4,596,564.00

   Financial assets                      EUR            160,588.00

    Shares in participations /

    subsidiaries and the like            EUR            160,588.00

     Shares in related companies         EUR            160,588.00

  Current assets                         EUR        134,828,952.00

   Stocks                                EUR                  0.00

    Raw materials, consumables and

    supplies                             EUR          1,479,993.00

    Finished goods / work in progress    EUR        349,547,368.00

    Advance payments made                EUR            152,271.00

    Minus received advance payments for

    orders / installments for stocks     EUR       -351,179,632.00

   Accounts receivable                   EUR        132,731,834.00

    Amounts due from shareholders        EUR          8,279,308.00

    Trade debtors                        EUR         69,306,326.00

    Amounts due from related companies   EUR         47,674,020.00

    Other debtors and assets             EUR          7,472,180.00

   Liquid means                          EUR          2,097,118.00

  Remaining other assets                 EUR            140,394.00

   Accruals (assets)                     EUR            140,394.00

 

 LIABILITIES                             EUR        164,049,577.00

  Shareholders' equity                   EUR         12,499,084.00

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR         29,000,000.00

    Capital reserves                     EUR         29,000,000.00

   Balance sheet profit/loss (+/-)       EUR        -16,525,916.00

    Profit / loss brought forward        EUR        -16,525,916.00

  Provisions                             EUR         70,206,364.00

   Pension provisions and comparable

   provisions                            EUR         15,060,531.00

   Provisions for taxes                  EUR          2,759,797.00

   Other / unspecified provisions        EUR         52,386,036.00

  Liabilities                            EUR         81,344,129.00

   Other liabilities                     EUR         81,344,129.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         51,091,125.00

    Liabilities from received advance

    payments                             EUR         20,799,214.00

    Liabililties due to related companiesEUR          2,416,717.00

    Unspecified other liabilities        EUR          7,037,073.00

     thereof liabilities from tax /

     financial authorities               EUR          5,127,163.00

     thereof liabilities from social

     security                            EUR              3,729.00

 

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

 Code (HGB)

  Sales                                  EUR        430,499,391.00

  Inventory change + own costs (+/-)     EUR         45,509,182.00

   Inventory change (+/-)                EUR         45,509,182.00

  Other operating income                 EUR         12,034,109.00

  Cost of materials                      EUR        283,217,574.00

   Raw materials and supplies, purchased

   goods                                 EUR        111,817,895.00

   Purchased services                    EUR        171,399,679.00

  Gross result (+/-)                     EUR        204,825,108.00

  Staff expenses                         EUR        134,363,548.00

   Wages and salaries                    EUR        112,511,506.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         21,852,042.00

  Total depreciation                     EUR         12,861,588.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         12,861,588.00

  Other operating expenses               EUR         62,401,166.00

  Operating result from continuing

  operations                             EUR         -4,801,194.00

  Result from participating interests

  (+/-)                                  EUR            333,534.00

   Expenses / income from participations EUR            333,534.00

    Income from related companies        EUR            333,534.00

  Interest result (+/-)                  EUR         -3,110,107.00

   Interest and similar income           EUR            197,437.00

   Interest and similar expenses         EUR          3,307,544.00

  Financial result (+/-)                 EUR         -2,776,573.00

  Result from ordinary operations (+/-)  EUR         -7,577,767.00

  Extraordinary expenses                 EUR             67,600.00

  Extraordinary result (+/-)             EUR            -67,600.00

  Income from assumption of loss by

  parent company                         EUR          8,603,702.00

  Income tax / refund of income tax (+/-)EUR           -910,350.00

  Other taxes / refund of taxes          EUR            -47,985.00

  Tax (+/-)                              EUR           -958,335.00

  Annual surplus / annual deficit        EUR                  0.00

 

 Type of balance sheet:               Company balance sheet

 

 Financial year:                          01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR        173,252,919.00

  Fixed assets                           EUR         38,677,894.00

   Intangible assets                     EUR         29,803,202.00

    Concessions, licences, rights        EUR            306,825.00

    Goodwill                             EUR         29,496,377.00

   Tangible assets                       EUR          8,072,365.00

    Land / similar rights                EUR          1,036,981.00

    Plant / machinery                    EUR          1,785,722.00

    Other tangible assets / fixtures and

    fittings                             EUR          5,249,662.00

   Financial assets                      EUR            802,327.00

    Shares in participations /

    subsidiaries and the like            EUR            160,588.00

     Shares in related companies         EUR            160,588.00

    Other loans                          EUR            641,739.00

  Current assets                         EUR        134,484,800.00

   Stocks                                EUR                  0.00

    Raw materials, consumables and

    supplies                             EUR          1,685,240.00

    Finished goods / work in progress    EUR        304,049,790.00

    Advance payments made                EUR         49,376,538.00

    Minus received advance payments for

    orders / installments for stocks     EUR       -355,111,568.00

   Accounts receivable                   EUR        130,321,464.00

    Amounts due from shareholders        EUR          4,260,810.00

    Trade debtors                        EUR         78,632,173.00

    Amounts due from related companies   EUR         35,381,670.00

    Other debtors and assets             EUR         12,046,811.00

   Liquid means                          EUR          4,163,336.00

  Remaining other assets                 EUR             90,225.00

   Accruals (assets)                     EUR             90,225.00

 

 LIABILITIES                             EUR        173,252,919.00

  Shareholders' equity                   EUR         12,499,084.00

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR         29,000,000.00

    Capital reserves                     EUR         29,000,000.00

   Balance sheet profit/loss (+/-)       EUR        -16,525,916.00

    Profit / loss brought forward        EUR        -16,525,916.00

  Provisions                             EUR         99,587,880.00

   Pension provisions and comparable

   provisions                            EUR         14,155,384.00

   Provisions for taxes                  EUR          2,614,523.00

   Other / unspecified provisions        EUR         82,817,973.00

  Liabilities                            EUR         61,165,953.00

   Financial debts                       EUR          2,034,249.00

    Liabilities due to banks             EUR          2,034,249.00

   Other liabilities                     EUR         59,131,704.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         32,451,275.00

    Liabilities from received advance

    payments                             EUR          9,738,706.00

    Liabililties due to related companiesEUR          1,630,103.00

    Unspecified other liabilities        EUR         15,311,620.00

     thereof liabilities from tax /

     financial authorities               EUR         13,016,616.00

     thereof liabilities from social

     security                            EUR             15,203.00

  Difference assets / liabilities        EUR                  2.00

 

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

 Code (HGB)

  Sales                                  EUR        566,181,123.00

  Inventory change + own costs (+/-)     EUR        -19,947,038.00

   Inventory change (+/-)                EUR        -19,947,038.00

  Other operating income                 EUR         14,322,383.00

  Cost of materials                      EUR        358,499,422.00

   Raw materials and supplies, purchased

   goods                                 EUR        155,989,233.00

   Purchased services                    EUR        202,510,189.00

  Gross result (+/-)                     EUR        202,057,046.00

  Staff expenses                         EUR        127,436,207.00

   Wages and salaries                    EUR        105,657,271.00

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR         21,778,936.00

  Total depreciation                     EUR         12,845,974.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         12,845,974.00

  Other operating expenses               EUR         64,590,906.00

  Operating result from continuing

  operations                             EUR         -2,816,041.00

  Result from participating interests

  (+/-)                                  EUR            764,117.00

   Expenses / income from participations EUR            764,117.00

    Income from related companies        EUR            764,117.00

  Interest result (+/-)                  EUR         -2,942,372.00

   Interest and similar income           EUR            717,216.00

    thereof from related companies       EUR            138,915.00

   Interest and similar expenses         EUR          3,659,588.00

    thereof paid to related companies    EUR                199.00

  Other financial result                 EUR             89,337.00

   Income from securities and loans from

   financial assets                      EUR             89,337.00

  Financial result (+/-)                 EUR         -2,088,918.00

  Result from ordinary operations (+/-)  EUR         -4,904,959.00

  Extraordinary expenses                 EUR             67,600.00

   Other extraordinary expenses          EUR             67,600.00

  Extraordinary result (+/-)             EUR            -67,600.00

  Income from assumption of loss by

  parent company                         EUR          4,629,710.00

  Income tax / refund of income tax (+/-)EUR            566,169.00

  Other taxes / refund of taxes          EUR           -223,320.00

  Tax (+/-)                              EUR            342,849.00

  Annual surplus / annual deficit        EUR                  0.00


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.89

UK Pound

1

Rs.98.90

Euro

1

Rs.72.31

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

 

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.