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Report No. : |
323032 |
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Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
L-3 COMMUNICATIONS ELAC NAUTIK GMBH |
|
|
|
|
Registered Office : |
Neufeldtstr. 10 D 24118 KielPost Box: 25 20, D 24024 kiel |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2008 |
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|
|
|
Date of Incorporation : |
07.02.1978 |
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|
|
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Com. Reg. No.: |
HRB 1221 KI |
|
|
|
|
Legal Form : |
Private limited company |
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|
|
|
Line of Business : |
·
Manufacture of instruments and
appliances for measuring, testing and navigation
|
|
|
|
|
No. of Employee : |
159 |
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 |
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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 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
L-3
COMMUNICATIONS ELAC NAUTIK GMBH
Company Status: active
Neufeldtstr. 10
D 24118 Kiel
Post Box:
25 20, D 24024 kiel
Telephone:0431/883-0
Telefax: 0431/883-496
Homepage: www.elac-nautik.com
E-mail: wilhelm.goerl@l-3com.com
Trade name: L3 ELAC Nautik
VAT
no.: DE811111236
Tax
ID number: 19 290 11236
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 07.02.1978
Begin
of business
activities: 07.02.1978
Shareholders'
agreement: 07.02.1978
Registered on: 09.02.1978
Commercial Register: Local court 24114 Kiel
under: HRB
1221 KI
EUR 7,705,168.65
Shareholder:
L-3 Communications
Holding GmbH
Zum Panrepel 2
D 28307 Bremen
Legal form: Private
limited company
Share capital: EUR
27,689.00
Share: EUR 7,705,168.65
Registered on: 09.05.2001
Reg. data: 28195 Bremen,
HRB 20127 HB
Profit transfer agreement
Manager:
Dr. Jörg
Brechtefeld
D 24796 Bovenau
having sole power of
representation
born: 08.05.1962
Proxy:
Wilhelm Görl
D 24857 Fahrdorf
authorized to jointly
represent the company
born: 12.07.1954
Marital status: married
Proxy:
Hans-Jörg Maschmann
D 24113 Molfsee
authorized to jointly represent the company
born: 04.10.1958
Proxy:
Bernd Szukay
D 24118 Kiel
authorized to jointly
represent the company
born: 01.03.1966
Further functions/participations of Dr. Jörg
Brechtefeld
(Manager)
Manager:
ELAC Nautik
Unterstützungskasse GmbH
Neufeldtstr. 10
D 24118 Kiel
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 21.12.1989
Reg. data: 24114 Kiel, HRB 2925 KI
09.02.1978
- 13.04.1994 Honeywell-Elac-Nautik
Gesellschaft mit
beschränkter Haftung
Westring 429
D 24118 Kiel
Private limited
company
14.07.1994 - 11.08.1995 AlliedSignal ELAC Nautik GmbH
Westring 429
D 24118 Kiel
Private limited
company
11.08.1995 - 19.05.1998 AlliedSignal ELAC Nautik GmbH
Neufeldtstr.
D 24118 Kiel
Private limited
company
Main industrial sector
26511
Manufacture of instruments and appliances for measuring,
testing and navigation
Secondary industrial sector
28290
Manufacture of other general-purpose machinery
Shareholder:
ELAC Nautik
Unterstützungskasse GmbH
Neufeldtstr. 10
D 24118 Kiel
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data: 21.12.1989
Local court
24114 Kiel
HRB 2925 KI
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2008
Type of ownership: Tenant
Address Neufeldtstr. 10
D 24118 Kiel
Land register documents were not available.
Principal bank
DEUTSCHE BANK, 24011 KIEL
Sort.
code: 21070020, Account no.: 0343962
BIC: DEUTDEHH210, IBAN: DE88210700200034396200
Turnover: 2013 *EUR 18,623,000.00
Equipment: EUR 853,535.00
Ac/ts receivable: EUR 7,342,232.00
Liabilities: EUR 5,290,313.00
Employees:
159
-
thereof permanent staff: 151
-
Trainees:
8
Profit transfer agreement to:
L-3 Communications
Holding GmbH
Zum Panrepel 2
D 28307 Bremen
The
business figures marked with an asterisk are estimates based
on
average values in the line of business.
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 51.84
Liquidity ratio: 3.26
Return
on total capital [%]: 9.16
Balance sheet ratios 01.01.2007 - 31.12.2007
Equity ratio [%]: 52.37
Liquidity ratio: 10.00
Return on total capital [%]: 4.14
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: 01.01.2008 - 31.12.2008
ASSETS EUR 16,972,480.73
Fixed assets
EUR 1,229,068.59
Intangible assets
EUR 227,770.00
Concessions, licences, rights
EUR 227,770.00
Tangible assets
EUR 975,734.00
Plant / machinery
EUR 73,479.00
Other tangible assets / fixtures and
fittings
EUR 853,535.00
Advance payments made / construction
in progress
EUR 48,720.00
Financial assets
EUR 25,564.59
Shares in participations /
subsidiaries and the like
EUR 25,564.59
Shares in related companies
EUR 25,564.59
Current assets
EUR 15,522,921.18
Stocks
EUR 4,854,113.88
Accounts receivable
EUR 7,342,232.98
thereof total due from shareholders
EUR 931,263.65
Amounts due from related companies
EUR 2,314,241.26
Other debtors and assets
EUR 5,027,991.72
Liquid means
EUR 3,326,574.32
Remaining other assets
EUR 220,490.96
Accruals (assets)
EUR 220,490.96
LIABILITIES EUR 16,972,480.73
Shareholders' equity
EUR 9,302,380.04
Capital
EUR 7,705,168.65
Subscribed capital (share capital)
EUR 7,705,168.65
Balance sheet profit/loss (+/-)
EUR 1,597,211.39
Profit / loss brought forward
EUR 1,597,211.39
Provisions
EUR 2,379,787.00
Other / unspecified provisions
EUR 2,379,787.00
Liabilities
EUR 5,290,313.69
Other liabilities
EUR 5,290,313.69
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,759,601.47
Liabililties due to related companiesEUR 131,744.39
Unspecified other liabilities
EUR 3,398,967.83
thereof liabilities from tax /
financial authorities
EUR 169,978.03
thereof liabilities from social
security
EUR 22,915.82
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 16,829,110.69
Staff expenses
EUR 11,120,640.16
Wages and salaries
EUR 9,174,368.56
Social security contributions and
expenses for pension plans and
benefits
EUR 1,946,271.60
Total depreciation
EUR 436,695.92
Depreciation
on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 436,695.92
Other operating expenses
EUR 3,946,152.40
Operating result from continuing
operations
EUR 1,325,622.21
Interest result (+/-)
EUR 107,001.39
Interest and similar income
EUR 218,454.97
thereof from related companies
EUR 169,200.94
Interest and similar expenses
EUR 111,453.58
Financial result (+/-)
EUR 107,001.39
Result from ordinary operations (+/-)
EUR 1,432,623.60
Expenses for transfer of profits to a
parent company
EUR 1,459,390.94
Income tax / refund of income tax (+/-)EUR 29,226.98
Other taxes / refund of taxes
EUR -2,459.64
Tax
(+/-)
EUR 26,767.34
Annual surplus / annual deficit EUR 0.00
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2007 - 31.12.2007
ASSETS EUR 15,607,815.42
Fixed assets
EUR 1,127,144.44
Intangible assets
EUR 298,583.00
Concessions, licences, rights
EUR 298,583.00
Tangible assets
EUR 802,996.85
Plant / machinery EUR 99,476.00
Other tangible assets / fixtures and
fittings
EUR 669,448.00
Advance payments made / construction
in progress
EUR 34,072.85
Financial assets
EUR 25,564.59
Shares in participations /
subsidiaries and the like
EUR 25,564.59
Shares in related companies
EUR 25,564.59
Current assets
EUR 14,334,328.89
Stocks
EUR 2,579,886.88
Accounts receivable
EUR 7,726,584.09
thereof total due from shareholders
EUR 2,221,453.65
Amounts due from related companies
EUR 4,214,196.25
Other debtors and assets
EUR 3,512,387.84
Liquid means
EUR 4,027,857.92
Remaining other assets
EUR 146,342.09
Accruals (assets)
EUR 146,342.09
LIABILITIES EUR 15,607,815.42
Shareholders' equity
EUR 9,302,380.04
Capital EUR 7,705,168.65
Subscribed capital (share capital)
EUR 7,705,168.65
Balance sheet profit/loss (+/-)
EUR 1,597,211.39
Profit / loss brought forward
EUR 1,597,211.39
Provisions EUR 2,052,084.00
Other / unspecified provisions
EUR 2,052,084.00
Liabilities
EUR 4,253,351.38
Other liabilities
EUR 4,253,351.38
Trade
creditors (for IAS incl. bills
of exchange)
EUR 955,931.86
Liabililties due to related companiesEUR 3,633.49
Unspecified other liabilities
EUR 3,293,786.03
thereof liabilities from tax /
financial authorities
EUR 169,598.72
thereof liabilities from social
security
EUR 21,108.72
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 14,351,242.14
Staff expenses
EUR 10,183,851.79
Wages and salaries
EUR 8,453,244.20
Social security contributions and
expenses
for pension plans and
benefits
EUR 1,730,607.59
Total depreciation
EUR 430,751.48
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 430,751.48
Other operating expenses
EUR 3,271,351.63
Operating result from continuing
operations
EUR 465,287.24
Interest result (+/-) EUR 96,049.03
Interest and similar income
EUR 185,563.78
thereof from related companies
EUR 169,750.50
Interest and similar expenses
EUR 89,514.75
thereof
paid to related companies EUR 0.00
Financial result (+/-)
EUR 96,049.03
Result from ordinary operations (+/-)
EUR 561,336.27
Expenses for transfer of profits to a
parent company EUR 547,652.27
Income tax / refund of income tax (+/-)EUR -10,878.65
Other taxes / refund of taxes
EUR -2,805.35
Tax
(+/-)
EUR -13,684.00
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
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.