|
Report No. : |
296339.2 |
|
Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SMA SOLAR TECHNOLOGY AG |
|
|
|
|
Registered Office : |
Sonnenallee 1 D 34266 Niestetal |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
30.09.1982 |
|
|
|
|
Com. Reg. No.: |
HRB 3972 |
|
|
|
|
Legal Form : |
Public limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
3,607 |
RATING & COMMENTS
|
MIRAs 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 : |
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 |
SMA SOLAR TECHNOLOGY AG
Sonnenallee
1
D 34266
Niestetal
Telephone:0561/9522-0
Telefax: 0561/9522-100
Homepage:
www.sma.de
E-mail: ir@sma.de
Active
DE113085954
Business relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 30.09.1982
Registered on: 24.09.2004
Commercial Register: Local court 34117 Kassel
under: HRB
3972
Share capital: EUR
34,700,000.00
The
company is listed on the stock market.
Shareholder:
SMA Solar Technology AG
Sonnenallee 1
D 34266 Niestetal
Legal form: Public
limited company
Share capital: EUR
34,700,000.00
Registered on: 24.09.2004
Reg. data: 34117 Kassel,
HRB 3972
Shareholder:
Danfoss A/S
Nordborgvej 81
DK 6430 Nordborg
Legal form: Other legal
form
Share: 20.000 %
Shareholder:
Reiner Wettlaufer
D 34123 Kassel
Share: 4.760 %
Shareholder:
Gόnther Cramer
D 34266 Niestetal
born: 12.1952
deceased: 06.01.2015
Share: 4.750 %
Shareholder:
Peter Drews
D 34266 Niestetal
Share: 4.760 %
Shareholder:
Prof. (em) Dr. Werner
Kleinkauf
D 34266 Niestetal
Share: 4.390 %
Member of the Board of Directors:
Martin Kinne
Matheisweg 12
D 83624 Otterfing
born: 26.02.1959
Member of the Board of Directors:
Pierre-Pascal Urbon
D 34117 Kassel
born: 02.12.1970
Member of the Board of Directors:
Roland Grebe
D 06618 Naumburg
born: 30.07.1960
Member of the Board of Directors:
Jόrgen Reinert
D 34117 Kassel
born: 25.01.1968
President of the Supervisory Board:
Dr. Erik Ehrentraut
Hohe Buchen 9
D 45133 Essen
born: 13.10.1943
Member of the Supervisory Board:
Dr. Winfried Hoffmann
Fiedlerstr. 44 b
D 34127 Kassel
born: 06.02.1941
Member of the Supervisory Board:
Reiner Wettlaufer
D 34123 Kassel
Profession: graduate
engineer
Member of the Supervisory Board:
Peter Drews
D 34266 Niestetal
Marital status: unknown
Member of the Supervisory Board:
Prof. (em) Dr. Werner
Kleinkauf
D 34266 Niestetal
Marital status: unknown
Member of the Supervisory Board:
Oliver Dietzel
D 34266 Niestetal
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Dr. Gόnther Hδckl
D 34117 Kassel
born: 24.03.1950
Profession: Fully qualified
social scientist
Representative of the Employees within the
Supervisory Board:
Johannes Hδde
D 36211 Alheim
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Mirko Zeidler
D 34117 Kassel
Representative of the Employees within the
Supervisory Board:
Alexander Naujoks
D 34266 Niestetal
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Joachim Schlosser
D 34266 Niestetal
Marital status: unknown
Proxy:
Marko Werner
Grόner Weg
D 34320 Sφhrewald
authorized to jointly
represent the company
born: 07.02.1963
Profession: graduate engineer
Marital status: single
Proxy:
Ulrich Hadding
D 34414 Warburg
authorized to jointly
represent the company
born: 27.08.1968
Proxy:
Dr. Johannes Kneip
D 01454 Radeberg
authorized to jointly
represent the company
born: 18.01.1967
Proxy:
Nikolaus Arnold Morbach
D 63762 Groίostheim
authorized to jointly
represent the company
born: 30.05.1969
Proxy:
Frank Greizer
D 34260 Kaufungen
authorized to jointly
represent the company
born: 23.08.1964
Proxy:
Jόrger Reekers
D 34117 Kassel
authorized to jointly
represent the company
born: 08.02.1963
Proxy:
Matthias Victor
D 34266 Niestetal
authorized to jointly
represent the company
born: 07.07.1970
Proxy:
Volker Wachenfeld
D 34369 Hofgeismar
authorized to jointly
represent the company
born: 24.09.1966
Proxy:
Mike Terlinden
D 34346 Hann. Mόnden
authorized to jointly
represent the company
born: 16.11.1963
Marital status: unknown
Proxy:
Boris Wilhelm Wolf
D 34117 Kassel
authorized to jointly
represent the company
born: 07.12.1971
Proxy:
Anja Jasper
D 34117 Kassel
authorized to jointly
represent the company
born: 21.11.1965
Further functions/participations of Martin
Kinne (Member of the
Board of Directors)
Manager:
Dialon GmbH
Wittelsbacherplatz 2
D 80333 Mόnchen
Legal form: Private limited
company
dissolved
Share capital: EUR 25,000.00
Registered
on: 27.07.2001
Reg. data: 80333 Mόnchen, HRB 138298
Vice-president of the Supervisory Board:
Common Sense Solutions AG
Promenadenstr. 11
D 12207 Berlin
Legal form: Public
limited company
Share capital: EUR 100,000.00
Registered
on: 31.01.2012
Reg. data: 14057 Berlin, HRB 139572 B
Further functions/participations of
Pierre-Pascal Urbon (Member
of the Board of Directors)
Manager:
SMA Solar Beteiligungs
GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 29.11.2012
Reg. data: 34117 Kassel, HRB 15915
Manager:
SMA Immo Beteiligungs
GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 03.03.2009
Reg. data: 34117 Kassel, HRB 14752
Manager:
SMA Solar Technology
Beteiligungs GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 24.06.2010
Reg. data: 34117 Kassel, HRB 15176
Proxy:
SMA Immo GmbH & Co.
KG
Sonnenallee 1
D 34266 Niestetal
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Total cap. EUR 25,000.00
contribution:
Registered
on: 11.08.2010
Reg. data: 34117 Kassel, HRA 16950
Further functions/participations of Roland
Grebe (Member of the Board of Directors)
Proxy:
SMA Immo GmbH & Co.
KG
Sonnenallee 1
D 34266 Niestetal
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 25,000.00
contribution:
Registered
on: 11.08.2010
Reg. data: 34117 Kassel, HRA 16950
30.09.1982 - 31.05.1993 SMA Regelsysteme GmbH
Hannoversche Str. 1-5
D 34266 Niestetal
Private limited
company
01.06.1993 - 23.09.2004 SMA Solar Technology AG
Hannoversche Str. 1-5
D 34266 Niestetal
Public limited
company
24.09.2004 - 24.09.2004 SMA Technologie AG
Hannoversche Str. 1-5
D 34266 Niestetal
Private limited
company
12.12.2012 - 18.03.2015 Member of the Board of Directors
Lydia Sommer
D 81477 Mόnchen
14.08.2009 - 11.08.2014 Member of the Board of Directors
Marko Werner
D 34320 Sφhrewald
07.05.2010 - 12.06.2013 Member of the Board of Directors
Jόrgen Dolle
D 34225 Baunatal
Main industrial sector
2620
Manufacture of computers and peripheral equipment
26511
Manufacture of instruments and appliances for measuring, testing and
navigation
26512 Manufacture of instruments and appliances for
measuring, testing and navigation
4669 Wholesale of other machinery, equipment and
supplies
Branch:
SMA Solar Technology AG
Oberndorferstr.
D 84032 Landshut
Limited partner:
SMA Immo GmbH & Co.
KG
Sonnenallee 1
D 34266 Niestetal
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Company Status: active
Total cap. EUR 25,000.00
contribution:
Share: EUR 23,500.00
Reg. data: 11.08.2010
Local court
34117 Kassel
HRA 16950
Shareholder:
SMA Railway Technology
GmbH
Miramstr. 87
D 34123 Kassel
Legal form: Private
limited company
Company Status: active
Share capital: EUR 200,000.00
Share: EUR 200,000.00
Reg. data: 30.05.2008
Local court
34117 Kassel
HRB 14556
Shareholder:
SMA Service International
GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 22.05.2012
Local court
34117 Kassel
HRB 15792
Shareholder:
SMA Sunbelt Energy GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 30.07.2014
Local court
34117 Kassel
HRB 16428
Shareholder:
SMA Solar Technology
Beteiligungs GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 24.06.2010
Local court
34117 Kassel
HRB 15176
Shareholder:
SMA Solar Beteiligungs
GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 29.11.2012
Local court
34117 Kassel
HRB 15915
Shareholder:
SMA Immo Beteiligungs
GmbH
Sonnenallee 1
D 34266 Niestetal
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 23,500.00
Reg. data: 03.03.2009
Local court
34117 Kassel
HRB 14752
Shareholder:
UNIKIMS GmbH
Mφnchebergstr. 7
D 34125 Kassel
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 2,400.00
Reg. data: 22.12.1999
Local court
34117 Kassel
HRB 7193
Shareholder:
IdE Institut dezentrale Energietechnologien
gemeinnόtzige GmbH
Stδndeplatz 15
D 34117 Kassel
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 2,000.00
Reg. data: 14.04.2011
Local court
34117 Kassel
HRB 15445
Shareholder:
SMA Solar Technology AG
Sonnenallee 1
D 34266 Niestetal
Legal form: Public
limited company
Company Status: active
Share capital: EUR
34,700,000.00
Reg. data: 24.09.2004
Local court
34117 Kassel
HRB 3972
Payment
experience: could not be obtained due to
structural changes
Negative
information:We have no negative information at hand.
Balance
sheet year: 2014
Type of ownership: Tenant
Address Sonnenallee 1
D 34266 Niestetal
Real Estate of: SMA Solar Technology AG
Type of ownership: Tenant
Address Sonnenallee 1
D 34266 Niestetal
Real Estate of: Gόnther Cramer
Type of ownership: Tenant
Address
D 34266 Niestetal
Real Estate of: Peter Drews
Type of ownership: Tenant
Address
D 34266 Niestetal
Real Estate of: Prof. (em) Dr. Werner Kleinkauf
Type of ownership: Tenant
Address
D 34266 Niestetal
Real Estate of: Martin Kinne
Type of ownership: unknown
Address Matheisweg 12
D 83624 Otterfing
Land register documents were not available.
Principal bank
COMMERZBANK, 34111 KASSEL, HESS
Sort. code: 52040021, Account no.: 264201500
BIC: COBADEFFXXX, IBAN: DE80520400210264201500
Further banks
DEUTSCHE BANK, 34117 KASSEL, HESS
Sort. code: 52070012, Account no.: 0418004
BIC: DEUTDEFF520, IBAN: DE14520700120041800400
KASSELER BANK, 34021 KASSEL, HESS
Sort. code: 52090000, Account no.: 127205
BIC: GENODE51KS1, IBAN: DE60520900000000127205
KASSELER SPARKASSE, 34111 KASSEL, HESS
Sort. code: 52050353, Account no.: 132994
BIC: HELADEF1KAS, IBAN: DE61520503530000132994
Turnover: 2013 EUR 706,895,000.00
2014 EUR 545,697,000.00
Profit: 2013 EUR -75,916,000.00
2014 EUR -197,146,000.00
further business figures:
Ac/ts receivable: EUR 184,846,000.00
Liabilities: EUR 100,056,000.00
Employees: 3,607
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 52.09
Liquidity ratio: 10.00
Return on total capital [%]: -22.93
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 65.39
Liquidity ratio: 10.00
Return on total capital [%]: -7.68
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 66.08
Liquidity ratio: 10.00
Return on total capital [%]: 5.79
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 60.93
Liquidity ratio: 10.00
Return on total capital [%]: 11.23
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: 01.01.2014
- 31.12.2014
ASSETS EUR 869,658,000.00
Fixed assets
EUR 354,661,000.00
Intangible assets
EUR 19,805,000.00
Tangible assets
EUR 256,339,000.00
Financial assets
EUR 78,517,000.00
Other / unspecified financial assets EUR 78,517,000.00
Current assets
EUR 513,172,000.00
Stocks EUR 113,496,000.00
Accounts receivable
EUR 184,846,000.00
Investments in current assets
EUR 52,480,000.00
Liquid means
EUR 162,350,000.00
Remaining other assets
EUR 1,825,000.00
Accruals (assets)
EUR 1,825,000.00
LIABILITIES EUR 869,658,000.00
Shareholders' equity
EUR 457,690,000.00
Capital
EUR 34,700,000.00
Subscribed capital (share capital)
EUR 34,700,000.00
Reserves
EUR 127,736,000.00
Capital reserves EUR 124,200,000.00
Retained earnings / revenue reserves EUR 3,536,000.00
Balance sheet profit/loss (+/-)
EUR 295,254,000.00
Balance sheet profit / loss
EUR 295,254,000.00
Items between shareholders' equity and
debt capital
EUR 190,000.00
Allowances / bonuses
EUR 190,000.00
Provisions
EUR 201,233,000.00
Liabilities EUR 100,056,000.00
Other liabilities
EUR 110,489,000.00
Deferrals (liabilities)
EUR 110,489,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 545,697,000.00
Inventory change + own costs (+/-)
EUR 11,568,000.00
Inventory change (+/-)
EUR 8,606,000.00
Capitalised own costs
EUR 2,962,000.00
Other operating income
EUR 128,072,000.00
Cost of materials
EUR 336,383,000.00
Gross result (+/-)
EUR 348,954,000.00
Staff expenses EUR
230,502,000.00
Total depreciation
EUR 50,697,000.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 50,697,000.00
Other operating expenses
EUR 213,653,000.00
Operating result from continuing
operations
EUR -145,898,000.00
Financial result (+/-)
EUR -44,441,000.00
Result from ordinary operations (+/-)
EUR -190,339,000.00
Income tax / refund of income tax (+/-)EUR -6,701,000.00
Other taxes / refund of taxes
EUR -106,000.00
Tax (+/-)
EUR -6,807,000.00
Annual surplus / annual deficit
EUR -197,146,000.00
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 996,914,000.00
Fixed assets
EUR 418,447,000.00
Intangible assets
EUR 17,785,000.00
Tangible assets
EUR 279,569,000.00
Financial assets
EUR 121,093,000.00
Other / unspecified financial
assets EUR 121,093,000.00
Current assets
EUR 577,701,000.00
Stocks
EUR 101,992,000.00
Accounts receivable
EUR 143,375,000.00
Investments in current assets
EUR 104,276,000.00
Liquid means
EUR 228,058,000.00
Remaining other assets
EUR 766,000.00
Accruals (assets)
EUR 766,000.00
LIABILITIES EUR 996,914,000.00
Shareholders' equity
EUR 654,836,000.00
Capital
EUR 34,700,000.00
Subscribed capital (share capital)
EUR 34,700,000.00
Reserves
EUR 127,736,000.00
Capital reserves
EUR 124,200,000.00
Retained earnings / revenue reserves EUR 3,536,000.00
Balance sheet profit/loss (+/-)
EUR 492,400,000.00
Balance sheet profit / loss
EUR 492,400,000.00
Items between shareholders' equity and
debt capital
EUR 245,000.00
Allowances / bonuses
EUR 245,000.00
Provisions
EUR 178,729,000.00
Liabilities
EUR 61,022,000.00
Other liabilities
EUR 102,082,000.00
Deferrals (liabilities)
EUR 102,082,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 706,895,000.00
Inventory change + own costs (+/-)
EUR -8,140,000.00
Inventory change (+/-)
EUR -12,817,000.00
Capitalised own costs
EUR 4,677,000.00
Other operating income
EUR 79,205,000.00
Cost of materials EUR
422,549,000.00
Gross result (+/-)
EUR 355,411,000.00
Staff expenses
EUR 208,257,000.00
Total depreciation
EUR 50,659,000.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 50,659,000.00
Other operating expenses
EUR 187,397,000.00
Operating result from continuing
operations EUR -90,902,000.00
Financial result (+/-)
EUR 16,220,000.00
Result from ordinary operations (+/-)
EUR -74,682,000.00
Income tax / refund of income tax (+/-)EUR -255,000.00
Other taxes / refund of taxes
EUR -979,000.00
Tax (+/-)
EUR -1,234,000.00
Annual surplus / annual deficit EUR -75,916,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
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 SCs
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.