MIRA INFORM REPORT

 

 

Report No. :

348381

Report Date :

07.11.2015

 

IDENTIFICATION DETAILS

 

Name :

GENKINGER-HUBTEX GMBH

 

 

Registered Office :

Albstr. 49 D 72525 Münsingen Post Box: 11 20, D 72525 Münsingen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

1922

 

 

Legal Form :

Private limited company

 

 

Line of Business :
  • Manufacture of lifting and handling equipment

·         Manufacture of other general-purpose machinery

  • Wholesale of industrial trucks and vehicles n.e.c.
  • Wholesale of other machinery

 

 

No. of Employees :

114

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 5.2% 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 accounted for 27.8% of gross electricity consumption in 2014, 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.

 

Source : CIA

 

Company name and address

 

Genkinger-HUBTEX GmbH

 

Albstr. 49

D 72525 Münsingen

Post Box:

11 20, D 72525 Münsingen

Telephone:07381/186-0

Telefax:  07381/186-44

Homepage: www.genkinger-hubtex.com

E-mail:   info@genkinger-hubtex.com

 

 

Company Status    

 

Active

                     

 

VAT no.           

 

DE181013922

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      1922

 Shareholders'

 agreement:                   05.03.1981

 Registered on:             01.07.1981

 Commercial Register:   Local court 70190 Stuttgart

 under:                          HRB 370153

 

 Share capital:                          EUR          1,000,000.00

 

 Shareholder:

                      HUBTEX Holding GmbH

                      Werner-von-Siemens-Str. 8

                      D 36041 Fulda

                      Legal form: Private limited company

                      Share capital:     EUR            120,000.00

                      Share:             EUR            400,000.00

                      Registered on: 20.10.1998

                      Reg. data: 36037 Fulda, HRB 1648

 Shareholder:

                      HAVO Neuenhauser Gruppe Holding

                      Aktiengesellschaft

                      Hans-Voshaar-Str. 5

                      D 49828 Neuenhaus

                      Legal form: Public limited company

                      Share capital:     EUR          5,070,000.00

                      Share:             EUR            350,000.00

                      Registered on: 15.09.2003

                      Reg. data: 49074 Osnabrück, HRB 131558

 Shareholder:

                      GIVE Maritime & Industrial Services GmbH

                      Elbchaussee 195

                      D 22605 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            869,196.20

                      Share:             EUR            250,000.00

                      Registered on: 02.04.2012

                      Reg. data: 20355 Hamburg, HRB 122519

 Manager:

                      Richard Ludwig

                      D 72525 Münsingen

                      having sole power of representation

                      born: 12.08.1965

 Proxy:

                      Torsten Brändle

                      D 72525 Münsingen

                      having sole power of representation

                      born: 07.04.1978

 

 

COMPANY HISTORY

 

 01.07.1981 - 27.07.2004            Genkinger Hebe- und Fördertechnik GmbH

                                                Hauptstr. 69

                                                D 72525 Münsingen

                                                Private limited company

 28.07.2004 - 30.04.2006            Genkinger HUBTEX GmbH

                                                Hauptstr. 69

                                                            D 72525 Münsingen

                                                Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 23.04.2014 - 03.11.2014            Manager

                                                Dr. Wulf-Dieter H. Greverath

                                                D 22605 Hamburg

 15.05.2008 - 16.04.2014            Manager

                                                Ralf Jestädt

                                                D 36037 Fulda

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

2822    Manufacture of lifting and handling equipment

28290   Manufacture of other general-purpose machinery

46691   Wholesale of industrial trucks and vehicles n.e.c.

46692   Wholesale of other machinery

 

 

FINANCIAL INFORMATION

 

 Payment experience:    within agreed terms

 

 Negative information:   We have no negative information at hand.

 

 Balance sheet year:      2014

 

 

REAL ESTATE

 

 Type of ownership:       proprietor

 Share:                          100.00 %

 Address                       Albstr. 49

                                    D 72525 Münsingen

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 VOLKSBANK MÜNSINGEN, 72525 MÜNSINGEN, WÜRTT

 Sort. code: 64091300

 BIC: GENODES1MUN

 

 Further banks

 KREISSPARKASSE REUTLINGEN, 72525 MÜNSINGEN, WÜRTT

 Sort. code: 64050000

 BIC: SOLADES1REU

 COMMERZBANK, 36002 FULDA

 Sort. code: 53040012

 BIC: COBADEFFXXX

 DEUTSCHE BANK, 72704 REUTLINGEN

 Sort. code: 64070085

 BIC: DEUTDESS640

 UNICREDIT BANK - HYPOVEREINSBANK, 97408 SCHWEINFURT

 Sort. code: 79320075

 BIC: HYVEDEMM451

 

 

 FINANCIAL FIGURES

 

 Turnover:            2013               EUR         14,400,000.00

                      2014               EUR         14,400,000.00

 Expected turnover:                      EUR         13,500,000.00

 Profit:              2013               EUR            407,197.00

                      2014               EUR            546,976.00

 further business figures:

 Equipment:                              EUR            548,263.00

 Ac/ts receivable:                       EUR          1,188,645.00

 Liabilities:                            EUR          1,512,927.00

 Employees:                                                    114

 - thereof permanent staff:                                     99

 - Trainees:                                                    15

 

 

 BALANCE SHEETS

 

 Balance sheet ratios     01.01.2014 - 31.12.2014

 Equity ratio [%]:                                   70.14

 Liquidity ratio:                                      1.61

 Return on total capital [%]:                    8.61

 

 Balance sheet ratios     01.01.2013 - 31.12.2013

 Equity ratio [%]:                                   56.63

 Liquidity ratio:                                      0.58

 Return on total capital [%]:                    5.64

 

 Balance sheet ratios     01.01.2012 - 31.12.2012

 Equity ratio [%]:                                   55.70

 Liquidity ratio:                                      0.40

 Return on total capital [%]:                   6.35

 

 Balance sheet ratios     01.01.2011 - 31.12.2011

 Equity ratio [%]:                                   48.04

 Liquidity ratio:                                      0.37

 Return on total capital [%]:                    6.79

 

 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

 Origin of the present

 balance sheet:       electronic German Federal Gazette

 

 Financial year:      01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR          6,391,366.11

  Fixed assets                           EUR          2,410,230.72

   Intangible assets                     EUR             59,520.99

    Other / unspecified intangible assetsEUR             59,520.99

   Tangible assets                       EUR          2,350,209.73

    Land / similar rights                EUR          1,581,959.96

    Plant / machinery                    EUR            219,987.01

    Other tangible assets / fixtures and

    fittings                             EUR            548,262.76

   Financial assets                      EUR                500.00

    Other / unspecified financial assets EUR                500.00

  Current assets                         EUR          3,873,738.41

   Stocks                                EUR          1,908,293.52

    Received advance payments for orders

    (depreciated on the assets side)     EUR           -984,622.02

   Accounts receivable                   EUR          1,188,645.26

    Amounts due from investee companies  EUR            133,205.27

    Other debtors and assets             EUR          1,055,439.99

   Liquid means                          EUR            776,799.63

  Remaining other assets                 EUR            107,396.98

   Accruals (assets)                     EUR            101,884.18

   Deferred taxes (assets)               EUR              5,512.80

 

 LIABILITIES                             EUR          6,391,366.11

  Shareholders' equity                   EUR          4,493,395.07

   Capital                               EUR          1,000,000.00

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

   Reserves                              EUR          2,734,091.46

    Capital reserves                     EUR          2,710,910.46

    Retained earnings / revenue reserves EUR             23,181.00

   Balance sheet profit/loss (+/-)       EUR            759,303.61

    Profit / loss brought forward        EUR            212,327.93

    Annual surplus / annual deficit      EUR            546,975.68

  Provisions                             EUR            385,044.35

  Liabilities                            EUR          1,512,926.69

   Financial debts                       EUR            821,047.35

    Liabilities due to banks             EUR            821,047.35

   Other liabilities                     EUR            691,879.34

    Liabilities due to investee companiesEUR             14,389.25

    Unspecified other liabilities        EUR            677,490.09

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          8,849,345.12

  Staff expenses                         EUR          5,655,429.31

   Wages and salaries                    EUR          4,715,644.64

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            939,784.67

  Total depreciation                     EUR            309,310.48

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            309,310.48

  Other operating expenses               EUR          2,060,424.40

  Operating result from continuing

  operations                             EUR            824,180.93

  Interest result (+/-)                  EUR            -50,368.23

   Interest and similar income           EUR              5,789.91

   Interest and similar expenses         EUR             56,158.14

  Other financial result                 EUR             -3,359.86

   Depreciation on financial assets and

   marketable securities                 EUR              3,359.86

  Financial result (+/-)                 EUR            -53,728.09

  Result from ordinary operations (+/-)  EUR            770,452.84

  Income tax / refund of income tax (+/-)EUR           -215,193.89

  Other taxes / refund of taxes          EUR             -8,283.27

  Tax (+/-)                              EUR           -223,477.16

  Annual surplus / annual deficit        EUR            546,975.68

 

 Type of balance

 sheet:               Company balance sheet

 Origin of the present

 balance sheet:       electronic German Federal Gazette

 

 Financial year:      01.01.2013 - 31.12.2013

 

 ASSETS                                  EUR          7,278,176.89

  Fixed assets                           EUR          2,555,357.40

   Intangible assets                     EUR             96,775.33

    Other / unspecified intangible assetsEUR             96,775.33

   Tangible assets                       EUR          2,458,082.07

    Land / similar rights                EUR          1,639,405.67

    Plant / machinery                    EUR            514,902.65

    Other tangible assets / fixtures and

    fittings                             EUR            303,773.75

   Financial assets                      EUR                500.00

    Other / unspecified financial assets EUR                500.00

  Current assets                         EUR          4,663,725.28

   Stocks                                EUR          2,880,156.38

    Received advance payments for orders

    (depreciated on the assets side)     EUR           -651,296.36

   Accounts receivable                   EUR          1,487,095.17

    Amounts due from investee companies  EUR            567,144.99

    Other debtors and assets             EUR            919,950.18

   Liquid means                          EUR            296,473.73

  Remaining other assets                 EUR             59,094.21

   Accruals (assets)                     EUR             28,037.01

   Deferred taxes (assets)               EUR              8,714.70

   Active difference from asset

   offsetting                            EUR             22,342.50

 

 LIABILITIES                             EUR          7,278,176.89

  Shareholders' equity                   EUR          4,146,419.39

   Capital                               EUR          1,000,000.00

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

   Reserves                              EUR          2,734,091.46

    Capital reserves                     EUR          2,710,910.46

    Retained earnings / revenue reserves EUR             23,181.00

   Balance sheet profit/loss (+/-)       EUR            412,327.93

    Profit / loss brought forward        EUR              5,131.40

    Annual surplus / annual deficit      EUR            407,196.53

  Provisions                             EUR            265,535.41

  Liabilities                            EUR          2,866,222.09

   Financial debts                       EUR          1,703,213.07

    Liabilities due to banks             EUR          1,703,213.07

   Other liabilities                     EUR          1,163,009.02

    Liabilities due to investee companiesEUR            244,025.21

    Unspecified other liabilities        EUR            918,983.81

 

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

 Code (HGB)

  Gross result (+/-)                     EUR          8,887,535.20

  Staff expenses                         EUR          5,512,172.34

   Wages and salaries                    EUR          4,618,033.61

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            894,138.73

  Total depreciation                     EUR            324,980.50

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            324,980.50

  Other operating expenses               EUR          2,409,529.83

  Operating result from continuing

  operations                             EUR            640,852.53

  Interest result (+/-)                  EUR            -68,178.53

   Interest and similar income           EUR              3,770.84

   Interest and similar expenses         EUR             71,949.37

  Other financial result                 EUR               -195.59

   Income from securities and loans from

   financial assets                      EUR              1,859.47

   Depreciation on financial assets and

   marketable securities                 EUR              2,055.06

  Financial result (+/-)                 EUR            -68,374.12

  Result from ordinary operations (+/-)  EUR            572,478.41

  Income tax / refund of income tax (+/-)EUR           -156,602.24

  Other taxes / refund of taxes          EUR             -8,679.64

  Tax (+/-)                              EUR           -165,281.88

  Annual surplus / annual deficit        EUR            407,196.53

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.79

UK Pound

1

Rs.99.95

Euro

1

Rs.71.55

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

               

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.