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Report No. : |
328415 |
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Report Date : |
24.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYSTEMAIR GMBH |
|
|
|
|
Registered Office : |
Seehöfer
Str. 45 OT, Windischbuch, D 97944 Boxberg |
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|
|
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Country : |
Germany |
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|
|
|
Financials (as on) : |
30.04.2014 |
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|
|
|
Date of Incorporation : |
02.09.1994 |
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|
|
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Com. Reg. No.: |
HRB 560437 |
|
|
|
|
Legal Form : |
Private limited company |
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|
|
|
Line of Business : |
Wholesale of other equipment and accessories for machinery and technical supplies |
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|
|
|
No of Employees : |
249 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
No Complaints |
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|
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
GERMANY ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.2% in 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. The budget was essentially in balance in 2014. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany plans to replace nuclear power with renewable energy, which accounted for 27.8% of gross electricity consumption in 2014, up from 9% in 2000. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.
|
Source
: CIA |
Systemair
GmbH
Seehöfer
Str. 45 OT
Windischbuch
D 97944
Boxberg
Telephone:07930/9272-0
Telefax: 07930/9272-92
Homepage:
www.systemair.de
E-mail: info@systemair.de
Active
DE811763537
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 02.09.1994
Shareholders'
agreement: 02.09.1994
Registered on: 11.12.1996
Commercial Register: Local court 68159 Mannheim
under: HRB
560437
Share capital: EUR 2,000,000.00
Shareholder:
Systemair Aktiebolag
Industrievägen 3
S 73930 Skinnskatteberg
Legal form: Other legal
form
Share: EUR 2,000,000.00
Manager:
Alf Gerald Engström
Masmästarvägen 5
S 73931 Skinnskutteberg
having sole power of
representation
born: 13.05.1948
Profession: Businessman
Marital status: married
Manager:
Kurt Maurer
Sternwiesen 12
OT Gaisbach
D 74653 Künzelsau
having sole power of
representation
born: 09.04.1959
Profession: Businessman
Marital status: married
Proxy:
Harald Bernhard Rudelgaß
Buchrainstr. 12
D 97922 Lauda-Königshofen
authorized to jointly
represent the company
born: 11.04.1969
Marital status: single
Proxy:
Walter Anton Rudolf
Gladiolenweg 17
D 74747 Ravenstein
authorized to jointly
represent the company
born: 22.05.1963
Profession: Employee
Marital status: married
Proxy:
Elke Landwehr
D 71032 Böblingen
authorized to jointly
represent the company
born: 29.04.1964
Proxy:
Bernd Ehrler
D 74673 Mulfingen
authorized to jointly represent
the company
born: 29.11.1969
Proxy:
Volker Georg Kura
D 97947 Grünsfeld
authorized to jointly
represent the company
born: 21.04.1968
02.09.1994 - 10.12.1996 LTI
Lüftungstechnik GmbH
Regionaler Industriepark
D 74706 Osterburken
Private limited company
11.12.1996 - 29.04.1999 LTI Lüftungstechnik GmbH
Seehöfer Str. 45
D 97944
Boxberg
Private
limited company
Main industrial sector
46693
Wholesale of other equipment and accessories for machinery and technical
supplies
Branch:
Systemair GmbH
Wolfener Str. 32-34
D 12681 Berlin
TEL.: 030/98306615
Branch:
Systemair GmbH
Dr.-Richard-Bonz-Str. 3
D 71034 Böblingen
Branch:
Systemair GmbH
Pankstr. 8 /10 , Haus C
D 13127 Berlin
Branch:
Systemair GmbH
Dirnismaning 25
D 85748 Garching
Branch:
Systemair GmbH
Heinestr. 4
D 35452 Heuchelheim
Branch:
Systemair GmbH
Schreberstr. 29
D 27755 Delmenhorst
Branch:
Systemair GmbH
Rabensteiner Str. 2
D 09117 Chemnitz
Branch:
Systemair GmbH
Am Sportplatz 4
D 40882 Ratingen
Branch:
Systemair GmbH
D 28816 Stuhr
Payment
experience: takes advantage of cash discount
Negative information: We have no negative information at hand.
PMI: No significant / relevant payment experience
information pertaining to the company
inquired upon is shown in the Deutscher
Debitoren Monitor (DDMonitor).
Balance sheet year: 2013/2014
Type of ownership: Tenant
Address Seehöfer
Str. 45 OT Windischbuch
D 97944 Boxberg
Land register documents were not available.
SVENSKA HANDELSBANKEN DEUTSCHLAND, 60598
FRANKFURT AM MAIN
Sort. code: 51420600
BIC: HANDDEFFXXX
SPARKASSE HOHENLOHEKREIS, 74641 KÜNZELSAU
Sort. code: 62251550
BIC: SOLADES1KUN
Turnover: 2012/2013 EUR 73,537,970.00
2013/2014 EUR 80,692,462.00
Profit: 2012/2013 EUR 3,759,783.00
2013/2014 EUR 4,508,298.00
further business figures:
Equipment: EUR 1,118,852.00
Ac/ts receivable: EUR 8,568,413.00
Liabilities: EUR 10,364,746.00
Employees:
249
- thereof permanent
staff:
232
- Trainees:
17
Balance sheet ratios 01.05.2013 - 30.04.2014
Equity ratio [%]: 61.12
Liquidity ratio: 0.85
Return on total capital [%]: 12.99
Balance sheet ratios 01.05.2012 - 30.04.2013
Equity ratio [%]: 71.82
Liquidity ratio: 1.43
Return on total capital [%]: 13.14
Balance sheet ratios 01.05.2011 - 30.04.2012
Equity ratio [%]: 74.80
Liquidity ratio: 1.36
Return on total capital [%]: 11.76
Balance sheet ratios 01.05.2010 - 30.04.2011
Equity ratio [%]: 71.02
Liquidity ratio: 1.54
Return on total capital [%]: 16.66
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.
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.
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: 01.05.2013
- 30.04.2014
ASSETS EUR 34,714,611.61
Fixed assets EUR 13,817,713.71
Intangible assets EUR 271,284.99
Concessions, licences,
rights EUR 271,284.99
Tangible assets EUR 13,546,403.99
Land / similar
rights EUR 11,014,448.33
Plant / machinery EUR 1,401,105.92
Other tangible assets /
fixtures and
fittings EUR 1,118,852.01
Advance payments made /
construction
in progress EUR 11,997.73
Financial assets EUR 24.73
Shares in participations
/
subsidiaries and the
like EUR 24.73
Shares in related
companies EUR 24.73
Current assets EUR 19,633,703.46
Stocks EUR 10,792,998.03
Raw materials, consumables
and
supplies EUR 5,039,769.70
Finished goods / work in
progress EUR 5,753,228.33
Accounts receivable EUR 8,568,413.14
Trade debtors EUR 5,784,463.00
Amounts due from related
companies EUR 2,694,401.23
Other debtors and
assets EUR 89,548.91
Liquid means EUR 272,292.29
Remaining other
assets EUR 1,263,194.44
Accruals (assets) EUR 1,263,194.44
LIABILITIES EUR 34,714,611.61
Shareholders' equity EUR 21,217,793.54
Capital EUR 2,000,000.00
Subscribed capital
(share capital) EUR 2,000,000.00
Balance sheet profit/loss
(+/-) EUR 19,217,793.54
Profit / loss brought
forward EUR 14,709,495.14
Annual surplus / annual
deficit EUR 4,508,298.40
Provisions EUR 2,347,889.51
Provisions for taxes EUR 786,565.51
Other / unspecified
provisions EUR 1,561,324.00
Liabilities EUR 10,364,745.57
Financial debts EUR 3,511,645.30
Liabilities due to
banks EUR 3,511,645.30
Other liabilities EUR 6,853,100.27
Trade creditors (for IAS
incl. bills
of exchange) EUR 4,362,475.09
Liabilities from
received advance
payments EUR 132,990.10
Liabililties due to related
companiesEUR 2,003,374.79
Unspecified other
liabilities EUR 354,260.29
Other liabilities EUR 784,182.99
Deferrals
(liabilities) EUR 784,182.99
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 80,692,462.10
Inventory change + own
costs (+/-) EUR 72,229.94
Inventory change
(+/-) EUR 72,229.94
Other operating
income EUR 1,736,626.98
Cost of materials EUR 55,426,271.72
Raw materials and
supplies, purchased
goods EUR 54,590,304.53
Purchased services EUR 835,967.19
Gross result (+/-) EUR 27,075,047.30
Staff expenses EUR 12,428,917.44
Wages and salaries EUR 10,393,900.05
Social security
contributions and
expenses for pension
plans and
benefits EUR 2,035,017.39
Total depreciation EUR 876,887.66
Depreciation on tangible
/ intangible
asssets (incl. start-up and exp. of
bus. EUR 876,887.66
Other operating
expenses EUR 7,521,214.01
Operating result from
continuing
operations EUR 6,248,028.19
Interest result (+/-) EUR -75,852.68
Interest and similar
income EUR 12,274.20
Interest and similar
expenses EUR 88,126.88
Financial result
(+/-) EUR -75,852.68
Result from ordinary
operations (+/-) EUR 6,172,175.51
Income tax / refund of
income tax (+/-)EUR -1,640,738.93
Other taxes / refund of
taxes EUR -23,138.18
Tax (+/-) EUR -1,663,877.11
Annual surplus / annual
deficit EUR 4,508,298.40
Type of balance sheet: Company
balance sheet
Financial year: 01.05.2012
- 30.04.2013
ASSETS EUR 28,603,852.03
Fixed assets EUR 10,022,975.51
Intangible assets EUR 31,834.54
Concessions, licences,
rights EUR 31,834.54
Tangible assets EUR 9,991,116.24
Land / similar
rights EUR 7,052,504.65
Plant / machinery EUR 626,109.45
Other tangible assets /
fixtures and
fittings EUR 958,555.08
Advance payments made /
construction
in progress EUR 1,353,947.06
Financial assets EUR 24.73
Shares in participations
/
subsidiaries and the
like EUR 24.73
Shares in related
companies EUR 24.73
Current assets EUR 17,471,197.72
Stocks EUR 9,533,204.15
Raw materials,
consumables and
supplies EUR 4,612,193.37
Finished goods / work in
progress EUR 4,903,120.92
Advance payments
made EUR 17,889.86
Accounts receivable EUR 7,878,134.45
Trade debtors EUR 4,577,284.04
Amounts due from related
companies EUR 3,054,837.11
Other debtors and
assets EUR 246,013.30
Liquid means EUR 59,859.12
Remaining other
assets EUR 1,109,678.80
Accruals (assets) EUR 1,109,678.80
LIABILITIES EUR 28,603,852.03
Shareholders' equity EUR 20,209,495.14
Capital EUR 2,000,000.00
Subscribed capital
(share capital) EUR 2,000,000.00
Balance sheet profit/loss
(+/-) EUR 18,209,495.14
Profit / loss brought
forward EUR 14,449,712.23
Annual surplus / annual
deficit EUR 3,759,782.91
Provisions EUR 1,844,988.89
Provisions for taxes EUR 508,708.89
Other / unspecified
provisions EUR 1,336,280.00
Liabilities EUR 5,914,316.79
Financial debts EUR 893,490.99
Liabilities due to
banks EUR 893,490.99
Other liabilities EUR 5,020,825.80
Trade creditors (for IAS
incl. bills
of exchange) EUR 3,492,070.82
Liabilities from
received advance
payments EUR 117,195.37
Liabililties due to
related companiesEUR
1,142,188.29
Unspecified other
liabilities EUR 269,371.32
Other liabilities EUR 635,051.21
Deferrals
(liabilities) EUR 635,051.21
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 73,537,970.39
Inventory change + own
costs (+/-) EUR
59,462.20
Inventory change
(+/-) EUR 59,462.20
Other operating
income EUR 862,793.41
Cost of materials EUR 50,968,946.18
Raw materials and supplies,
purchased
goods EUR 50,467,649.16
Purchased services EUR 501,297.02
Gross result (+/-) EUR 23,491,279.82
Staff expenses EUR 10,998,130.25
Wages and salaries EUR 9,176,176.06
Social security
contributions and
expenses for pension
plans and
benefits EUR 1,821,954.19
Total depreciation EUR 631,346.55
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 631,346.55
Other operating
expenses EUR 6,536,804.49
Operating result from
continuing
operations EUR 5,324,998.53
Interest result (+/-) EUR -29,147.98
Interest and similar
income EUR 4,300.46
Interest and similar
expenses EUR 33,448.44
Financial result
(+/-) EUR -29,147.98
Result from ordinary
operations (+/-) EUR 5,295,850.55
Income tax / refund of
income tax (+/-)EUR -1,521,678.34
Other taxes / refund of
taxes EUR -14,389.30
Tax (+/-) EUR -1,536,067.64
Annual surplus / annual
deficit EUR 3,759,782.91
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.64 |
|
|
1 |
Rs. 100.41 |
|
Euro |
1 |
Rs. 71.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
DPT |
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.