MIRA INFORM REPORT

 

 

Report No. :

322611

Report Date :

23.05.2015

 

IDENTIFICATION DETAILS

 

Name :

THÜRINGER FIBER-TROMMEL GMBH

 

 

Registered Office :

An der Raffinerie 6, D 04617 Rositz

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

15.06.1990

 

 

Com. Reg. No.:

HRB 202665

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Manufacture of corrugated paper and paperboard and of containers of paper and paperboard

Manufacture of plastic products

Manufacture of metal products n.e.c.

Non-specialized wholesale trade

 

 

No of Employees :

219

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

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 5.3% 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

Company name & address

 

Thüringer Fiber-Trommel GmbH

 

An der Raffinerie 6

D 04617 Rositz

Telephone:034498/456-0

Telefax:  034498/456-30

Homepage: www.tft-verpackungen.com

E-mail:   tft-rositz@t-online.de

 

 

Company Status     

 

Active

 

 

 VAT no          

 

DE150536996

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      1990

 Shareholders'

 agreement:                   15.06.1990

 Registered on:             03.12.1992

 Commercial Register:   Local court 07745 Jena

 under:                          HRB 202665

 

 Share capital:                          EUR          1,000,000.00

 

 Shareholder:

                      Rainer Pöhlmann

                      Altenburger Str. 1 B

                      D 04617 Rositz

                      born: 17.11.1945

                      Share:             EUR          1,000,000.00

 Manager:

                      Rainer Pöhlmann

                      Altenburger Str. 1 B

                      D 04617 Rositz

                      having sole power of representation

                      born: 17.11.1945

                      Profession: Mechanical engineer

                      Marital status: married

 Manager:

                      Natalie Weller

                      D 04600 Altenburg

                      authorized to jointly represent the company

                      born: 07.09.1987

 Proxy:

                      Anne Margarete Pöhlmann

                      D 04617 Rositz

                      having sole power of representation

                      born: 23.10.1952

 Proxy:

                      Gabriele Kügler

                      D 04617 Rositz

                      having sole power of representation

                      born: 27.09.1960

 

 

 BUSINESS ACTIVITIES

 

 Sectors

17210   Manufacture of corrugated paper and paperboard and of containers of paper and paperboard

222     Manufacture of plastic products

25993   Manufacture of metal products n.e.c.

46903   Non-specialized wholesale trade

 

 

 FINANCIAL INFORMATION

 

Payment experience:     within periods customary in this trade

 

Negative information:    We have no negative information at hand.

 

Balance sheet year:        2013

 

 

 REAL ESTATE

 

 Type of ownership:       proprietor

 Share:                          100.00 %

 Address                       An der Raffinerie 6

                                     D 04617 Rositz

 Type of real estate:      factory building

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 VR-BANK ALTENBURGER LAND / DEUTSCHE SKATBANK, 04600 ALTENBURG,

 THÜR

 Sort. code: 83065408, Account no.: 669130

 BIC: GENODEF1SLR, IBAN: DE12830654080000669130

 

 Further banks

 DEUTSCHE KREDITBANK BERLIN, 10117 BERLIN

 Sort. code: 12030000, Account no.: 1026939

 BIC: BYLADEM1001, IBAN: DE02120300000001026939

 COMMERZBANK, 04009 LEIPZIG

 Sort. code: 86040000, Account no.: 306267600

 BIC: COBADEFFXXX, IBAN: DE84860400000306267600

 SPARKASSE ALTENBURGER LAND, 04581 ALTENBURG, THÜR

 Sort. code: 83050200, Account no.: 1700006858

 BIC: HELADEF1ALT, IBAN: DE16830502001700006858

 UNICREDIT BANK - HYPOVEREINSBANK, 04600 ALTENBURG, THÜR

 Sort. code: 83020086, Account no.: 4393341

 BIC: HYVEDEMM468, IBAN: DE75830200860004393341

 

 

 FINANCIAL FIGURES

 

 Gross profit or loss:2013               EUR          9,037,804.00

 Profit:              2013               EUR         -1,395,817.00

 Equipment:                              EUR            625,898.00

 Ac/ts receivable:                       EUR          1,642,559.00

 Liabilities:                            EUR         18,598,678.00

 Employees:                                                    219

 - thereof permanent staff:                                    206

 - Trainees:                                                     7

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                                   27.00

 Liquidity ratio:                                      0.09

 Return on total capital [%]:                    -6.11

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                                   28.37

 Liquidity ratio:                                      0.16

 Return on total capital [%]:                    1.91

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                                   35.49

 Liquidity ratio:                                      0.17

 Return on total capital [%]:                    2.13

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                                   37.36

 Liquidity ratio:                                      0.27

 Return on total capital [%]:                    0.81

 

 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         27,805,459.16

  Fixed assets                           EUR         23,179,324.64

   Intangible assets                     EUR             25,577.00

    Concessions, licences, rights        EUR             25,577.00

   Tangible assets                       EUR         23,153,547.64

    Land / similar rights                EUR         13,943,078.58

    Plant / machinery                    EUR          7,977,645.62

    Other tangible assets / fixtures and

    fittings                             EUR            625,897.51

    Advance payments made / construction

    in progress                          EUR            606,925.93

   Financial assets                      EUR                200.00

    Shares in participations /

    subsidiaries and the like            EUR                200.00

     Shares in cooperatives              EUR                200.00

  Current assets                         EUR          4,240,000.48

   Stocks                                EUR          2,406,748.01

    Other / unspecified stocks           EUR          2,406,748.01

   Accounts receivable                   EUR          1,642,559.00

    Other debtors and assets             EUR          1,642,559.00

   Liquid means                          EUR            190,693.47

  Remaining other assets                 EUR            386,134.04

   Accruals (assets)                     EUR             91,925.64

    thereof disagio                      EUR             29,573.10

   Active difference from asset

   offsetting                            EUR            294,208.40

 

 LIABILITIES                             EUR         27,805,459.16

  Shareholders' equity                   EUR          6,201,295.58

   Capital                               EUR          1,000,000.00

    Subscribed capital (share capital)   EUR          1,000,000.00

   Reserves                              EUR          6,597,112.97

    Retained earnings / revenue reserves EUR          6,597,112.97

   Balance sheet profit/loss (+/-)       EUR         -1,395,817.39

    Annual surplus / annual deficit      EUR         -1,395,817.39

  Items between shareholders' equity and

  debt capital                           EUR          2,610,491.18

   Allowances / bonuses                  EUR          2,610,491.18

  Provisions                             EUR            394,994.55

   Other / unspecified provisions        EUR            394,994.55

  Liabilities                            EUR         18,598,677.85

   Financial debts                       EUR         14,898,535.61

    Liabilities due to banks             EUR         14,898,535.61

   Other liabilities                     EUR          3,700,142.24

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          2,560,800.00

    Unspecified other liabilities        EUR          1,139,342.24

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          9,037,804.05

  Staff expenses                         EUR          5,329,973.15

   Wages and salaries                    EUR          4,441,803.52

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            888,169.63

  Total depreciation                     EUR          2,429,560.91

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          2,429,560.91

  Other operating expenses               EUR          1,974,499.65

  Operating result from continuing

  operations                             EUR           -696,229.66

  Interest result (+/-)                  EUR         -1,002,811.48

   Interest and similar expenses         EUR          1,002,811.48

  Financial result (+/-)                 EUR         -1,002,811.48

  Result from ordinary operations (+/-)  EUR         -1,699,041.14

  Extraordinary income                   EUR            327,818.11

  Extraordinary expenses                 EUR             25,297.40

   Other extraordinary expenses          EUR             25,297.40

  Extraordinary result (+/-)             EUR            302,520.71

  Income tax / refund of income tax (+/-)EUR              1,628.04

  Other taxes / refund of taxes          EUR               -925.00

  Tax (+/-)                              EUR                703.04

  Annual surplus / annual deficit        EUR         -1,395,817.39

 

 Type of balance sheet:                        Company balance sheet

 

 Financial year:                                    01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR         31,431,589.81

  Fixed assets                           EUR         25,110,520.60

   Intangible assets                     EUR             44,902.00

    Other / unspecified intangible assetsEUR             44,902.00

   Tangible assets                       EUR         25,065,418.60

    Land / similar rights                EUR         14,480,417.58

    Plant / machinery                    EUR          9,384,980.62

    Other tangible assets / fixtures and

    fittings                             EUR            738,011.51

    Advance payments made / construction

    in progress                          EUR            462,008.89

   Financial assets                      EUR                200.00

  Current assets                         EUR          5,942,158.50

   Stocks                                EUR          2,457,813.82

   Accounts receivable                   EUR          3,417,737.10

   Liquid means                          EUR             66,607.58

  Remaining other assets                 EUR            378,910.71

   Accruals (assets)                     EUR            125,075.91

   Active difference from asset

   offsetting                            EUR            253,834.80

 

 LIABILITIES                             EUR         31,431,589.81

  Shareholders' equity                   EUR          7,597,112.97

   Capital                               EUR          1,000,000.00

    Subscribed capital (share capital)   EUR          1,000,000.00

   Reserves                              EUR          6,021,445.84

    Retained earnings / revenue reserves EUR          6,021,445.84

   Balance sheet profit/loss (+/-)       EUR            575,667.13

    Annual surplus / annual deficit      EUR            575,667.13

  Items between shareholders' equity and

  debt capital                           EUR          2,674,609.29

   Allowances / bonuses                  EUR          2,674,609.29

  Provisions                             EUR            365,100.75

  Liabilities                            EUR         20,794,766.80

   Financial debts                       EUR         16,432,855.09

    Liabilities due to banks             EUR         16,432,855.09

   Other liabilities                     EUR          4,361,911.71

    Unspecified other liabilities        EUR          4,361,911.71

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR         10,321,990.22

  Staff expenses                         EUR          5,004,916.33

   Wages and salaries                    EUR          4,262,153.24

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            742,763.09

  Total depreciation                     EUR          2,012,228.90

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          2,012,228.90

  Other operating expenses               EUR          1,907,538.71

  Operating result from continuing

  operations                             EUR          1,397,306.28

  Interest result (+/-)                  EUR           -821,126.00

   Interest and similar income           EUR              3,797.73

   Interest and similar expenses         EUR            824,923.73

  Financial result (+/-)                 EUR           -821,126.00

  Result from ordinary operations (+/-)  EUR            576,180.28

  Extraordinary expenses                 EUR             25,297.40

  Extraordinary result (+/-)             EUR            -25,297.40

  Income tax / refund of income tax (+/-)EUR             25,709.25

  Other taxes / refund of taxes          EUR               -925.00

  Tax (+/-)                              EUR             24,784.25

  Annual surplus / annual deficit        EUR            575,667.13

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.57

UK Pound

1

Rs. 99.66

Euro

1

Rs. 70.92

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.