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Report No. : |
319523 |
|
Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIESEL TECHNIC AG |
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|
|
Registered Office : |
Wehrmannsdamm 5-9, D 27245 Kirchdorf |
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|
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Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
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Date of Incorporation : |
05.10.1972 |
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|
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Com. Reg. No.: |
HRB 100414 |
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Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
·
Manufacture
of other parts and accessories for motor vehicles ·
Wholesale
trade in motor vehicle parts and accessories ·
Retail trade
in motor vehicle parts and accessories |
|
|
|
|
No. of Employees : |
337 |
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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Payment Behaviour : |
No Complaints |
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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 – 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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
DIESEL TECHNIC AG
Company Status: active
Wehrmannsdamm 5-9
D 27245 Kirchdorf
Telephone:04273/89-0
Telefax:
04273/89-89
Homepage: www.dieseltechnic.com
E-mail:
info@dieseltechnic.com
VAT
no.: DE116579235
Business relations are permissible.
LEGAL FORM Public limited company
Date of foundation: 05.10.1972
Registered on: 25.08.1999
Commercial Register: Local court 29664
Walsrode
under: HRB 100414
Share capital: EUR 2,700,000.00
Shareholder:
Erwin Naujoks
Schelmenbühl 12
D 78333 Stockach
born: 16.03.1949
Share: 46.150 %
Shareholder:
Horst Lieberwirth
Turm 2
D 17252 Mirow
born: 09.12.1949
Share: 53.850 %
President of the Board of Directors:
Dr. Steffen Vondran
D 32469 Petershagen
born: 17.03.1971
Profession: Engineer
Marital status: unknown
Member of the Board of Directors:
Susanne Küfe-Vorholt
D 27232 Sulingen
born: 07.10.1956
Member of the Board of Directors:
Ralf Nädtke
D 27232 Sulingen
born: 14.09.1968
Member of the Board of Directors:
Frank Behrens
D 27245 Kirchdorf
born: 20.08.1968
President of the Supervisory Board:
Horst Lieberwirth
Turm 2
D 17252 Mirow
born: 09.12.1949
Profession: Businessman
Vice-president of the Supervisory Board:
Dr. Uwe Lenz
Hollerlander Weg 56a
D 28355 Bremen
born: 05.06.1960
Profession: lawyer and
notary
Member of the Supervisory Board:
Erwin Naujoks
Schelmenbühl 12
D 78333 Stockach
born: 16.03.1949
Marital status: married
Proxy:
Hannelore Koop
D 27232 Sulingen
authorized to jointly
represent the company
born: 06.09.1962
Further functions/participations of Dr.
Steffen Vondran
(President of the Board of Directors)
Limited partner:
Erste CT Solarpark GmbH
& Co. KG.
Osterstr. 39a
D 31134 Hildesheim
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 525,000.00
contribution:
Share: EUR 20,000.00
Registered
on: 09.10.2007
Reg. data: 31134 Hildesheim, HRA 200406
05.10.1972 - 25.08.1999 DT - Diesel Technic GmbH
Wehrmannsdamm 5-9
D 27245 Kirchdorf
Private limited
company
Main industrial sector
29320
Manufacture of other parts and accessories for motor vehicles
45310
Wholesale trade in motor vehicle parts and accessories
Secondary
industrial sector
45320
Retail trade in motor vehicle parts and accessories
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Type of ownership: proprietor
Share: 100.00 %
Address Wehrmannsdamm 5-9
D 27245 Kirchdorf
Land register documents were not available.
KREISSPARKASSE GRAFSCHAFT DIEPHOLZ, 49343
DIEPHOLZ
Sort. code: 25651325
BIC:
BRLADE21DHZ
COMMERZBANK, 49005 OSNABRÜCK
Sort. code: 26540070
BIC: COBADEFFXXX
DEUTSCHE BANK, 28189 BREMEN
Sort. code: 29070050
BIC: DEUTDEHBXXX
VOLKSBANK SULINGEN, 27223 SULINGEN
Sort. code: 25691633
BIC: GENODEF1SUL
Turnover: 2013 EUR 107,113,240.00
Profit: 2013 EUR 16,363,588.00
Equipment: EUR 4,508,971.00
Ac/ts receivable: EUR 20,604,136.00
Liabilities: EUR 28,926,854.00
Employees:
337
-
thereof permanent staff:
324
-
Trainees:
13
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 54.16
Liquidity ratio: 0.99
Return on total capital [%]: 18.40
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 56.52
Liquidity ratio: 1.00
Return on total capital [%]: 15.50
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity
ratio [%]: 61.48
Liquidity ratio: 1.74
Return on total capital [%]: 18.82
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 61.91
Liquidity ratio: 2.02
Return on total capital [%]: 23.67
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 88,998,102.02
Fixed assets
EUR 26,243,961.48
Intangible assets
EUR 658,632.75
Concessions, licences, rights
EUR 550,683.00
Advance payments for intang. assets
EUR 107,949.75
Tangible assets
EUR 18,051,438.19
Land / similar rights
EUR 13,419,026.65
Other tangible assets / fixtures and
fittings
EUR 4,508,971.18
Advance payments made / construction
in progress
EUR 123,440.36
Financial assets
EUR 7,533,890.54
Shares in participations /
subsidiaries and the like
EUR 1,767,913.64
Shares in related companies
EUR 1,767,913.64
Loans to participations /
subsidiaries and the like
EUR 5,522,651.90
Loans to related companies
EUR 5,522,651.90
Securities included in fixed assets
EUR 243,325.00
Current assets
EUR 62,386,222.64
Stocks
EUR 33,586,307.06
Raw materials, consumables and
supplies
EUR 975,423.01
Finished goods / work in progress
EUR 32,509,686.23
Advance
payments made EUR 101,197.82
Accounts receivable
EUR 20,604,135.57
Trade debtors
EUR 11,439,526.00
Amounts due from related companies
EUR 7,293,290.56
Other debtors and assets
EUR 1,871,319.01
Liquid means
EUR 8,195,780.01
Remaining other assets
EUR 367,917.90
Accruals (assets)
EUR 367,917.90
LIABILITIES EUR 88,998,102.02
Shareholders' equity
EUR 48,205,672.94
Capital
EUR 2,700,000.00
Subscribed capital (share capital)
EUR 2,700,000.00
Reserves
EUR 270,000.00
Retained earnings / revenue reserves EUR 270,000.00
Balance sheet profit/loss (+/-)
EUR 45,235,672.94
Balance sheet profit / loss
EUR 45,235,672.94
Provisions
EUR 11,865,574.70
Pension provisions and comparable
provisions
EUR 859,507.00
Provisions for taxes
EUR 220,467.70
Other / unspecified provisions
EUR 10,785,600.00
Liabilities
EUR 28,926,854.38
Financial debts
EUR 16,089,489.18
Liabilities due to banks
EUR 16,089,489.18
Other liabilities
EUR 12,837,365.20
Trade creditors (for IAS incl. bills
of exchange)
EUR 5,882,853.26
Liabililties
due to related companiesEUR
242,505.77
Unspecified other liabilities
EUR 6,712,006.17
thereof liabilities from tax /
financial authorities
EUR 828,816.94
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 107,113,239.83
Other operating income
EUR 3,028,843.16
Cost of materials
EUR 62,144,802.29
Raw materials and supplies, purchased
goods
EUR 62,138,398.76
Purchased services
EUR 6,403.53
Gross result (+/-)
EUR 47,997,280.70
Staff expenses
EUR 17,203,461.66
Wages and salaries
EUR 14,949,302.29
Social security contributions and
expenses for pension plans and
benefits
EUR 2,254,159.37
Total depreciation
EUR 1,692,533.69
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,692,533.69
Other operating expenses
EUR 13,870,109.68
Operating result from continuing
operations
EUR 15,231,175.67
Result from participating interests
(+/-)
EUR 5,846,521.75
Expenses
/ income from participations EUR
5,846,521.75
Income from related companies
EUR 5,846,521.75
Interest result (+/-)
EUR -465,705.63
Interest and similar income
EUR 46,404.93
thereof from related companies
EUR 0.00
Interest and similar expenses
EUR 512,110.56
Other financial result
EUR 152,641.75
Income from securities and loans from
financial
assets EUR 152,641.75
thereof related companies
EUR 152,641.75
Financial result (+/-)
EUR 5,533,457.87
Result from ordinary operations (+/-)
EUR 20,764,633.54
Extraordinary expenses
EUR 9,831.00
Extraordinary result (+/-)
EUR -9,831.00
Income tax / refund of income tax (+/-)EUR -4,365,040.84
Other taxes / refund of taxes
EUR -26,173.82
Tax
(+/-)
EUR -4,391,214.66
Annual surplus / annual deficit
EUR 16,363,587.88
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 81,879,381.71
Fixed assets
EUR 26,139,558.73
Intangible assets
EUR 628,264.20
Concessions, licences, rights
EUR 628,264.20
Tangible assets
EUR 18,402,857.87
Land / similar rights
EUR 13,930,457.49
Other tangible assets / fixtures and
fittings
EUR 4,345,497.92
Advance payments made / construction
in progress
EUR 126,902.46
Financial assets
EUR 7,108,436.66
Shares in participations /
subsidiaries and the like EUR
1,219,201.59
Shares in related companies
EUR 1,219,201.59
Loans to participations /
subsidiaries and the like
EUR 5,169,962.07
Loans to related companies
EUR 5,169,962.07
Securities included in fixed assets
EUR 719,273.00
Current assets
EUR 55,453,474.45
Stocks
EUR 31,089,629.91
Raw materials, consumables and
supplies EUR 806,151.89
Finished goods / work in progress
EUR 30,187,435.36
Advance payments made
EUR 96,042.66
Accounts receivable
EUR 15,648,954.45
Trade debtors EUR 10,745,577.00
Amounts due from related companies
EUR 3,053,226.31
Other debtors and assets
EUR 1,850,151.14
Liquid means
EUR 8,714,890.09
Remaining other assets
EUR 286,348.53
Accruals (assets)
EUR 286,348.53
LIABILITIES EUR 81,879,381.71
Shareholders' equity
EUR 46,281,238.06
Capital
EUR 2,700,000.00
Subscribed capital (share capital)
EUR 2,700,000.00
Reserves
EUR 270,000.00
Retained earnings / revenue reserves EUR 270,000.00
Balance sheet profit/loss (+/-)
EUR 43,311,238.06
Balance sheet profit / loss
EUR 43,311,238.06
Provisions
EUR 11,257,666.00
Pension provisions and comparable
provisions
EUR 845,966.00
Other / unspecified provisions
EUR 10,411,700.00
Liabilities
EUR 24,340,477.65
Financial debts
EUR 17,283,318.13
Liabilities due to banks
EUR 17,283,318.13
Other liabilities
EUR 7,057,159.52
Trade creditors (for IAS incl. bills
of exchange)
EUR 4,408,034.37
Liabililties due to related companiesEUR 154,240.74
Unspecified other liabilities
EUR 2,494,884.41
thereof liabilities from tax /
financial authorities
EUR 786,502.85
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales
EUR 98,802,117.78
Other operating income
EUR 2,588,433.94
Cost of materials
EUR 56,893,701.42
Raw materials and supplies, purchased
goods
EUR 56,891,308.56
Purchased services
EUR 2,392.86
Gross result (+/-)
EUR 44,496,850.30
Staff expenses
EUR 15,985,801.87
Wages and salaries
EUR 14,130,354.01
Social security contributions and
expenses for pension plans and
benefits EUR
1,855,447.86
Total depreciation
EUR 1,261,369.99
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,261,369.99
Other operating expenses
EUR 12,570,165.32
Operating result from continuing
operations
EUR 14,679,513.12
Result from participating interests
(+/-)
EUR 2,458,837.58
Expenses / income from participations EUR 2,458,837.58
Income from related companies
EUR 2,458,837.58
Interest result (+/-)
EUR -347,517.41
Interest and similar income
EUR 59,606.76
thereof from related companies
EUR 452.86
Interest and similar expenses
EUR 407,124.17
Other financial result
EUR 61,578.49
Income from securities and loans from
financial assets
EUR 61,578.49
thereof related companies
EUR 61,578.49
Financial result (+/-)
EUR 2,172,898.66
Result from ordinary operations (+/-)
EUR 16,852,411.78
Extraordinary expenses
EUR 9,831.00
Extraordinary result (+/-)
EUR -9,831.00
Income tax / refund of income tax (+/-)EUR -4,140,722.86
Other taxes / refund of taxes
EUR -22,312.56
Tax
(+/-)
EUR -4,163,035.42
Annual surplus / annual deficit
EUR 12,679,545.36
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.96.81 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.