|
Report No. : |
323130 |
|
Report Date : |
15.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
VDM METALS GMBH |
|
|
|
|
Registered Office : |
Plettenberger Str. 2, D 58791 Werdohl,
Post Box: 18 20, D 58778 Werdohl |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1930 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Treatment and coating of metals ·
Manufacture of other fabricated metal products
n.e.c. ·
Wholesale of non-ferrous ores, metals
and metal |
|
|
|
|
No. of Employees : |
1, 675 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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, has 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 2013. The new German government introduced a
minimum wage of $11 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%. 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 hopes to
replace nuclear power with renewable energy. 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 |
VDM METALS GMBH
Company Status: active
Plettenberger Str. 2
D 58791 Werdohl
Post Box:
18 20, D 58778 Werdohl
Telephone:02392/550
Telefax:
02392/552217
Homepage: www.thyssenkrupp-vdm.com
E-mail:
info@outokumpu-vdm.com
VAT
no.: DE811151765
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1930
Registered on: 29.11.1991
Commercial Register: Local court 58636
Iserlohn
under: HRB 5327
Share capital: EUR 32,000,000.00
Shareholder:
ThyssenKrupp Materials
International GmbH
ThyssenKrupp Allee 1
D 45143 Essen
Legal form: Private
limited company
Share capital: EUR
283,383,000.00
Share: EUR 32,000,000.00
Registered on: 12.01.2011
Reg. data: 45130 Essen,
HRB 22760
Control and profit
transfer agreement
President of the Board of Management:
Dr. Jürgen Paul Olbrich
Lerchenhain 92
D 48301 Nottuln
born: 28.03.1955
Profession: Chemist
Manager:
Dr. Franz-Josef Wahlers
Lippkampstr. 14
D 44534 Lünen
born: 22.09.1952
Profession: Director
Marital status: married
Manager:
Ulrike Meiritz
Bramweg 1
D 59174 Kamen
born: 07.01.1960
President of the Supervisory Board:
Dr. Reinhard Florey
D 40210 Düsseldorf
born: 28.12.1965
Nationality: USA
Member of the Supervisory Board:
Frank Jürgen Brüggestrat
D 58452 Witten
born: 18.04.1963
Profession: Clerk
Member of the Supervisory Board:
Dr. Philipp Voet van
Vormizeele
D 41464 Neuss
born: 27.08.1974
Member of the Supervisory Board:
Elin Dera
D 40210 Düsseldorf
Marital status: unknown
Member of the Supervisory Board:
Johann Steiner
SF Helsinki
born: 18.05.1966
Nationality: Finnish
Member of the Supervisory Board:
Matti Louhija
D 58791 Werdohl
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Ralf Schumacher
Sauerlandstr. 19
D 59581 Warstein
Representative of the Employees within the
Supervisory Board:
Ralf Klose
D 58791 Werdohl
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Gerd Bendiks
D 58791 Werdohl
Marital status: unknown
Proxy:
Jan Bender
D 45128 Essen
authorized to jointly
represent the company
born: 06.08.1968
Marital status: single
Proxy:
Hans-Peter Jäger
Margeritenstr. 14
D 58640 Iserlohn
authorized to jointly
represent the company
born: 04.03.1957
Proxy:
Lothar Brunner
D 58507 Lüdenscheid
authorized to jointly
represent the company
born: 11.07.1953
Proxy:
Dr. Ralph Mast
D 44339 Dortmund
authorized to jointly
represent the company
born: 12.06.1968
Proxy:
Mathias Voss
D 44267 Dortmund
authorized to jointly
represent the company
born: 10.03.1961
Proxy:
Christian Dettmer
D 44229 Dortmund
authorized to jointly
represent the company
born: 16.04.1955
Proxy:
Marcell Sehner
D 44339 Dortmund
authorized to jointly
represent the company
born: 08.03.1970
Proxy:
Olaf Kazmierski
D 35713 Eschenburg
authorized to jointly
represent the company
born: 26.07.1960
Proxy:
Hanno Gerich
D 57223 Kreuztal
authorized to jointly
represent the company
born: 30.05.1963
Proxy:
Rainer Kochanski
D 58636 Iserlohn
authorized to jointly
represent the company
born: 17.11.1956
Proxy:
Wim Papke
D 45131 Essen
authorized to jointly represent the
company
born: 16.04.1966
Proxy:
Stefan Claus
D 63776 Mömbris
authorized to jointly
represent the company
born: 14.05.1964
Further functions/participations of Dr. Jürgen
Paul Olbrich
(President of the Board of Management)
Shareholder:
VCO Management GmbH
Lerchenhain 92
D 48301 Nottuln
Legal form: Private limited
company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 29.03.2005
Reg. data: 48653 Coesfeld, HRB 9611
Manager:
VCO Management GmbH
Lerchenhain 92
D 48301 Nottuln
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 29.03.2005
Reg. data: 48653 Coesfeld, HRB 9611
Member of the Board of Directors:
Wirtschaftsvereinigung Stahl
Sohnstr. 65
D 40237 Düsseldorf
Legal form: Other legal
form
Further functions/participations of Dr.
Franz-Josef Wahlers
(Manager)
Member of the Board of Directors:
Stahlinstitut VDEh
Sohnstr. 65
D 40237 Düsseldorf
Legal form: Other legal
form
Reg. data: 40227 Düsseldorf,
1991 - 18.01.2013 ThyssenKrupp VDM GmbH
Plettenberger Str. 2
D 58791 Werdohl
Private limited
company
18.01.2013 - 04.04.2014 Outokumpu VDM GmbH
Plettenberger Str. 2
D 58791 Werdohl
Private limited
company
13.09.2012 - 07.05.2014 President of the Supervisory Board
Clemens Iller
D 47798 Krefeld
13.09.2012 - 07.05.2014 Member of the Supervisory Board
Ralf Springob
D 58762 Altena
13.09.2012 - 07.05.2014 Member of the Supervisory Board
Christian Tebroke
D 45127 Essen
Main industrial sector
2561
Treatment and coating of metals
2599
Manufacture of other fabricated metal products n.e.c.
46722
Wholesale of non-ferrous ores, metals and metal
semi-finished goods
Works:
VDM Metals GmbH
Formerstr. 17
D 59425 Unna
TEL.: 02303/673-0
Works:
VDM Metals GmbH
Kleffstr. 23
D 58762 Altena
Works:
VDM Metals GmbH
Obere Kaiserstr.
D 57078 Siegen
Works:
VDM Metals GmbH
Westendstr. 15
D 45143 Essen
Branch:
VDM Metals GmbH
Zeilweg 42
D 60439 Frankfurt
TEL.: 069/58020
FAX.: 069/5802109
Shareholder:
VDM-Unterstützungskasse
Gesellschaft mit
beschränkter Haftung
Plettenberger Str. 2
D 58791 Werdohl
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data: 11.01.1902
Local court
58636 Iserlohn
HRB 5100
Shareholder:
MOL Katalysatortechnik
GmbH
Fritz-Haber-Str. 9
D 06217 Merseburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 77,050.00
Share: EUR 15,766.00
Reg. data: 02.08.1995
Local court
39576 Stendal
HRB 209430
Shareholder:
Evidal Schmöle
Verwaltungsgesellschaft mbH
Carl-Benz-Str. 13
D 58706 Menden
Legal form: Private
limited company
Company Status: active
Share capital: EUR 30,000.00
Share: EUR 15,000.00
Reg. data: 24.03.2000
Local court
59821 Arnsberg
HRB 5192
Payment experience: within agreed terms
Negative information:We have no negative information
at hand.
Type of ownership: proprietor
Share: 100.00 %
Address Plettenberger Str. 2
D 58791 Werdohl
Land register documents were not available.
Principal banks
COMMERZBANK, 58771 WERDOHL
Sort. code: 45840026, Account no.: 6422450617
BIC: COBADEFFXXX
DEUTSCHE BANK PRIVAT UND GESCHÄFTSKUNDEN,
58772 WERDOHL
Sort. code: 44570024, Account no.: 2428563
BIC: DEUTDEDB445, IBAN: DE49445700240242856300
Turnover: 2013 EUR 260,000,000.00
2014
EUR 270,000,000.00
further business figures:
Equipment: *EUR 12,999,500.00
Ac/ts
receivable: EUR 116,992,000.00
Liabilities: EUR 318,451,000.00
Employees:
1,675
-
thereof permanent staff:
1,560
-
Trainees:
115
Control and profit transfer agreement to:
ThyssenKrupp Materials
International GmbH
ThyssenKrupp Allee 1
D 45143 Essen
The
business figures marked with an asterisk are estimates based
on
average values in the line of business.
Balance sheet ratios 01.10.2012 - 31.12.2012
Equity ratio [%]: 20.50
Liquidity ratio: 0.37
Return on total capital [%]: 0.53
Balance sheet ratios 01.10.2011 - 30.09.2012
Equity ratio [%]: 23.99
Liquidity ratio: 0.60
Return on total capital [%]: 3.71
Balance sheet ratios 01.10.2010 - 30.09.2011
Equity ratio [%]: 18.40
Liquidity ratio: 0.54
Return on total capital [%]: 0.97
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: 01.10.2012 - 31.12.2012
ASSETS EUR 538,004,000.00
Fixed assets EUR 139,850,000.00
Intangible assets
EUR 961,000.00
Tangible assets
EUR 136,435,000.00
Financial assets
EUR 2,454,000.00
Current assets
EUR 397,683,000.00
Stocks
EUR 278,066,000.00
Accounts receivable
EUR 116,992,000.00
Trade debtors
EUR 66,584,000.00
Other debtors and assets
EUR 50,408,000.00
Liquid means
EUR 2,625,000.00
Remaining other assets
EUR 471,000.00
Accruals (assets) EUR 471,000.00
LIABILITIES EUR 538,004,000.00
Shareholders' equity
EUR 106,998,000.00
Capital
EUR 32,000,000.00
Subscribed capital (share capital)
EUR 32,000,000.00
Reserves
EUR 74,816,000.00
Capital reserves
EUR 66,326,000.00
Retained earnings / revenue reserves EUR 8,490,000.00
Balance
sheet profit/loss (+/-) EUR 182,000.00
Balance sheet profit / loss
EUR 182,000.00
Provisions
EUR 112,553,000.00
Pension provisions and comparable
provisions EUR 66,537,000.00
Other / unspecified provisions
EUR 46,016,000.00
Liabilities
EUR 318,451,000.00
Other liabilities
EUR 318,451,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 137,939,000.00
Unspecified other liabilities
EUR 180,512,000.00
Other liabilities
EUR 2,000.00
Deferrals
(liabilities) EUR 2,000.00
PROFIT AND LOSS ACCOUNT (cost of sales method)
according to Comm.
Code
(HGB)
Sales
EUR 249,213,000.00
Manufacturing costs
EUR 226,277,000.00
Gross result on sales
EUR 22,936,000.00
Distribution costs
EUR 9,812,000.00
General administration expenses
EUR 5,407,000.00
Other operating income EUR 544,000.00
Other operating expenses
EUR 1,116,000.00
Operating result from continuing
operations
EUR 7,145,000.00
Interest result (+/-)
EUR -2,815,000.00
Financial result (+/-)
EUR -2,815,000.00
Result from ordinary operations (+/-)
EUR 4,330,000.00
Expenses for transfer of profits to a
parent company
EUR 2,806,000.00
Income tax / refund of income tax
(+/-)EUR -1,495,000.00
Tax
(+/-)
EUR -1,495,000.00
Annual surplus / annual deficit
EUR 29,000.00
Type
of balance
sheet: Company balance sheet
Financial year: 01.10.2011 - 30.09.2012
ASSETS EUR 559,094,000.00
Fixed assets
EUR 123,356,000.00
Intangible assets
EUR 861,000.00
Concessions, licences, rights EUR 834,000.00
Advance payments for intang. assets
EUR 27,000.00
Tangible assets
EUR 120,044,000.00
Land / similar rights
EUR 46,816,000.00
Plant / machinery
EUR 50,390,000.00
Other tangible assets / fixtures and
fittings
EUR 14,005,000.00
Advance payments made / construction
in progress EUR 8,833,000.00
Financial assets
EUR 2,451,000.00
Shares in participations /
subsidiaries and the like
EUR 2,145,000.00
Shares in related companies
EUR 2,129,000.00
Shares in investee companies
EUR 16,000.00
Loans to participations /
subsidiaries and the like
EUR 205,000.00
Loans to related companies
EUR 205,000.00
Other loans
EUR 101,000.00
Current assets
EUR 434,526,000.00
Stocks
EUR 243,149,000.00
Raw materials, consumables and
supplies EUR 37,005,000.00
Finished goods / work in progress
EUR 207,717,000.00
Minus received advance payments for
orders / installments for stocks
EUR -1,573,000.00
Accounts receivable
EUR 191,151,000.00
Amounts due from shareholders
EUR 5,600,000.00
Trade debtors
EUR 73,585,000.00
Amounts due from related companies
EUR 108,552,000.00
Amounts
due from investee companies EUR 30,000.00
Other debtors and assets
EUR 3,384,000.00
Liquid means
EUR 226,000.00
Remaining other assets
EUR 1,212,000.00
Accruals (assets)
EUR 1,212,000.00
LIABILITIES EUR 559,094,000.00
Shareholders' equity
EUR 106,970,000.00
Capital
EUR 32,000,000.00
Subscribed capital (share capital)
EUR 32,000,000.00
Reserves
EUR 74,970,000.00
Capital reserves
EUR 66,326,000.00
Retained earnings / revenue reserves EUR 8,644,000.00
Provisions
EUR 109,473,000.00
Pension provisions and comparable
provisions
EUR 66,424,000.00
Other / unspecified provisions
EUR 43,049,000.00
Liabilities
EUR 342,646,000.00
Other liabilities
EUR 342,646,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 183,316,000.00
Liabilities due to shareholders
EUR 31,400,000.00
Liabililties due to related companiesEUR 108,239,000.00
Unspecified other liabilities
EUR 19,691,000.00
thereof liabilities from tax /
financial authorities
EUR 2,700,000.00
thereof liabilities from social
security
EUR 100,000.00
Other liabilities
EUR 5,000.00
Deferrals (liabilities) EUR 5,000.00
PROFIT AND LOSS ACCOUNT (cost of sales method)
according to Comm.
Code
(HGB)
Sales
EUR 1,197,227,000.00
Manufacturing costs
EUR 1,091,983,000.00
Gross result on sales
EUR 105,244,000.00
Distribution costs
EUR 38,273,000.00
General administration expenses
EUR 19,609,000.00
Other operating income
EUR 4,117,000.00
Other operating expenses
EUR 6,573,000.00
Operating result from continuing
operations
EUR 44,906,000.00
Interest result (+/-)
EUR -13,424,000.00
Interest and similar income
EUR 372,000.00
thereof from related companies
EUR 170,000.00
Interest and similar expenses
EUR 13,796,000.00
thereof paid to related companies
EUR 6,203,000.00
Other financial result
EUR 3,000.00
Income from securities and loans from
financial assets
EUR 3,000.00
thereof related companies
EUR 1,000.00
Financial result (+/-)
EUR -13,421,000.00
Result from ordinary operations (+/-)
EUR 31,485,000.00
Expenses for transfer of profits to a
parent company
EUR 20,405,000.00
Income tax / refund of income tax (+/-)EUR -10,968,000.00
Tax
(+/-)
EUR -10,968,000.00
Annual surplus / annual deficit
EUR 112,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.84 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.