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Report No. : |
349979 |
|
Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AVL EMISSION TEST SYSTEMS GMBH |
|
|
|
|
Registered Office : |
Graf-Landsberg-Str. 1c D 41460 Neuss |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
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|
|
|
Date of Incorporation : |
02.11.1991 |
|
|
|
|
Legal Form : |
Private limited company |
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|
|
|
Line of Business : |
·
Manufacture of instruments and
appliances for measuring, testing and navigation ·
Manufacture of electric and electronic
equipment for motor vehicles ·
Wholesale trade in motor vehicle parts
and accessories
|
|
|
|
|
No. of Employee : |
274 |
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 |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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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 – 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 |
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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 5.2% 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 |
AVL
Emission Test Systems GmbH
Company Status: active
Graf-Landsberg-Str. 1c
D 41460 Neuss
Telephone:02131/5124-0
Telefax:
02131/5124-111
Homepage: www.avl.com/ets
E-mail:
sales.emission@avl.com
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 02.11.1990
Shareholders'
agreement: 30.09.1991
Registered on: 21.12.1999
Commercial Register: Local court 41460 Neuss
under: HRB
9897
Share capital: EUR 2,457,200.00
Shareholder:
AVL List GmbH
Hans Listplatz 1
A 8020 Graz
Legal form: Other legal
form
Share: EUR 2,303,600.00
Shareholder:
Konrad Hinterhofer
D 76437 Rastatt
born: 31.05.1961
Share: EUR 153,600.00
Manager:
Konrad Hinterhofer
D 76437 Rastatt
authorized to jointly
represent the company
born: 31.05.1961
Profession: Businessman
Marital status: single
Proxy:
Andreas Lothar Neff
D 51688 Wipperfürth
authorized to jointly
represent the company
born: 16.08.1960
Profession: Businessman
Further functions/participations of Konrad
Hinterhofer (Manager)
Shareholder:
PEUS-Testing GmbH
Max-Roth-Str. 1
D 76571 Gaggenau
Legal form: Private
limited company
Share capital: EUR 26,000.00
Share: EUR 6,250.00
Registered
on: 29.06.2000
Reg. data: 68159 Mannheim, HRB 521998
02.11.1990 - 29.09.1991 hermann
electronic Inh. Horst Hermann
Siemensstr. 6
D 90766 Fürth
Sole proprietorship
30.09.1991 - 20.09.1994 hermann
electronic GmbH
D 90556 Cadolzburg
Private limited company
21.09.1994 - 21.12.1999 Hermann
Electronic GmbH
Siemensstr. 6
D
90766 Fürth
Private limited company
21.12.1999 - 06.07.2004 Pierburg
Instruments GmbH
Alfred-Pierburg-Str. 1
D 41460 Neuss
Private limited company
06.07.2004 - 30.12.2005 Pierburg Instruments GmbH
Graf-Landsberg-Str. 1c
D 41460 Neuss
Private limited company
10.08.2010 - 12.05.2015 President
of the Board of Management
Uwe Krummenöhler
D 77833 Ottersweier
Main industrial sector
2651
Manufacture of instruments and appliances for measuring,
testing and navigation
29310
Manufacture of electric and electronic equipment for
motor vehicles
45310
Wholesale trade in motor vehicle parts and accessories
4669
Wholesale of other machinery, equipment and supplies
Branch:
AVL Emission Test Systems
GmbH
Max-Roth-Str. 1
D 76571 Gaggenau
TEL.: 07225/96360
Reg. entry: 17.08.2006
Payment experience: Slow
but correct
Negative information: We have no negative information at hand.
Balance sheet year: 2014
REAL ESTATE
Type of ownership: Tenant
Address Graf-Landsberg-Str.
1c
D 41460 Neuss
Type of ownership: Tenant
Address Max-Roth-Str.
1
D 76571 Gaggenau
Land
register documents were not available.
COMMERZBANK, 41403 NEUSS
Sort. code: 30040000
BIC: COBADEDDXXX
HSBC TRINKAUS & BURKHARDT, 40002
DÜSSELDORF
Sort. code: 30030880
BIC: TUBDDEDDXXX
Turnover:
2013 EUR 79,605,890.00
2014 EUR 65,260,075.00
Profit: 2013 EUR 2,988,677.00
2014 EUR -2,710,912.00
further business figures:
Equipment: EUR 1,337,449.00
Ac/ts receivable: EUR 16,012,067.00
Liabilities: EUR 19,298,207.00
Employees: 274
- thereof permanent staff: 273
- Trainees:
1
BALANCE SHEETS
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 56.30
Liquidity ratio: 1.98
Return on total capital [%]: -6.73
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 59.69
Liquidity ratio: 1.90
Return on total capital [%]: 7.56
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 62.09
Liquidity ratio: 2.65
Return on total capital [%]: 5.69
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 23.15
Liquidity ratio: 0.53
Return on total capital [%]: 3.27
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 40,448,970.27
Fixed assets EUR 13,063,766.90
Intangible assets EUR 10,192,083.92
Internally generated industrial
property rights and similar rights
and assets EUR 313,478.16
Concessions, licences, rights EUR 6,072,999.84
Goodwill EUR 689,204.00
Capitalised development costs EUR 3,116,401.92
Tangible assets EUR 2,867,923.00
Land / similar rights EUR 1,480,757.00
Plant / machinery EUR 49,717.00
Other tangible assets / fixtures and
fittings
EUR 1,337,449.00
Financial assets EUR 3,759.98
Shares in participations /
subsidiaries and the like EUR 3,759.98
Shares in investee companies EUR 3,759.98
Current assets EUR 27,333,736.73
Stocks EUR 10,966,635.97
Raw materials, consumables and
supplies EUR 2,873,464.75
Finished goods / work in progress EUR
20,363,699.12
Minus received advance payments for
orders / installments for stocks EUR
-12,270,527.90
Accounts receivable EUR 16,012,066.64
Trade debtors EUR 4,173,676.95
Amounts due from related companies EUR
11,401,036.77
Other debtors and assets EUR 437,352.92
Liquid means EUR 355,034.12
Remaining other assets EUR 51,466.64
Accruals (assets) EUR 51,466.64
LIABILITIES EUR 40,448,970.27
Shareholders' equity EUR 12,235,069.69
Capital EUR 2,457,200.00
Subscribed capital (share capital) EUR
2,457,200.00
Reserves EUR 46,901,989.22
Capital reserves EUR 46,901,989.22
Balance sheet profit/loss (+/-) EUR -37,124,119.53
Profit / loss brought forward EUR -34,413,207.65
Annual surplus / annual deficit EUR -2,710,911.88
Provisions EUR 8,915,693.82
Pension provisions and comparable
provisions EUR 3,556,683.00
Other / unspecified provisions EUR 5,359,010.82
Liabilities EUR 19,298,206.76
Other liabilities EUR 19,298,206.76
Trade creditors (for IAS incl. bills
of exchange) EUR 6,502,688.55
Liabilities due to shareholders EUR 10,840,566.68
Liabililties due to related
companiesEUR 1,946,063.72
Unspecified other liabilities EUR 8,887.81
thereof liabilities from tax /
financial authorities EUR 0.00
thereof liabilities from social
security EUR 7,353.24
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 65,260,074.56
Inventory change + own costs (+/-) EUR 1,951,114.75
Inventory change (+/-) EUR 658,767.27
Capitalised own costs EUR 1,292,347.48
Other operating income EUR 2,195,123.28
Cost of materials EUR 31,483,213.23
Raw materials and supplies, purchased
goods EUR 29,299,486.93
Purchased services EUR 2,183,726.30
Gross result (+/-) EUR 37,923,099.36
Staff expenses EUR 20,847,048.72
Wages and salaries EUR 17,500,078.53
Social security contributions and
expenses for pension plans and
benefits EUR 3,346,970.19
Total depreciation EUR 4,607,009.82
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 4,607,009.82
Other operating expenses EUR 14,533,284.08
Operating result from continuing
operations EUR -2,064,243.26
Interest result (+/-) EUR -527,817.02
Interest and similar income EUR 2,943.15
Interest and similar expenses EUR 530,760.17
thereof paid to related companies EUR 336,554.80
Other financial result EUR -3,888.00
Depreciation on financial assets and
marketable securities EUR 3,888.00
Financial result (+/-) EUR -531,705.02
Result from ordinary operations (+/-) EUR
-2,595,948.28
Extraordinary expenses EUR 34,540.00
Extraordinary result (+/-) EUR -34,540.00
Income tax / refund of income tax
(+/-)EUR -10,745.91
Other taxes / refund of taxes EUR
-69,677.69
Tax (+/-) EUR -80,423.60
Annual surplus / annual deficit EUR -2,710,911.88
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 41,070,499.16
Fixed assets EUR 13,721,320.98
Intangible assets EUR 10,817,392.00
Concessions, licences, rights EUR 9,743,475.00
Goodwill EUR 1,073,917.00
Tangible assets EUR 2,900,169.00
Land / similar rights EUR 1,623,412.00
Plant / machinery EUR 47,507.00
Other tangible assets / fixtures and
fittings EUR 1,229,250.00
Financial assets EUR 3,759.98
Shares in participations /
subsidiaries and the like EUR 3,759.98
Shares in investee companies EUR 3,759.98
Current assets EUR 27,297,711.54
Stocks EUR 12,643,205.03
Raw materials, consumables and
supplies EUR 2,824,745.42
Finished goods / work in progress EUR
19,704,931.85
Minus received advance payments for
orders / installments for stocks EUR
-9,886,472.24
Accounts receivable EUR 14,065,629.25
Trade debtors EUR 3,927,235.72
Amounts due from related companies EUR
10,066,812.40
Other debtors and assets EUR 71,581.13
Liquid means EUR 588,877.26
Remaining other assets EUR 51,466.64
Accruals (assets) EUR 51,466.64
LIABILITIES EUR 41,070,499.16
Shareholders' equity EUR 14,945,981.57
Capital EUR 2,457,200.00
Subscribed capital (share capital) EUR
2,457,200.00
Reserves EUR 46,901,989.22
Capital reserves EUR 46,901,989.22
Balance sheet profit/loss (+/-) EUR
-34,413,207.65
Profit / loss brought forward EUR -37,401,884.75
Annual surplus / annual deficit EUR 2,988,677.10
Provisions EUR 8,136,006.51
Pension provisions and comparable
provisions EUR 3,358,853.00
Other / unspecified provisions EUR 4,777,153.51
Liabilities EUR 17,988,511.08
Other liabilities EUR 17,988,511.08
Trade creditors (for IAS incl. bills
of exchange) EUR 6,242,136.09
Liabilities due to shareholders EUR 10,000,000.00
Liabililties due to related
companiesEUR 867,119.87
Unspecified other liabilities EUR 879,255.12
thereof liabilities from tax /
financial authorities EUR 867,567.27
thereof liabilities from social
security EUR 8,591.71
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 79,605,889.85
Inventory change + own costs (+/-) EUR
-3,258,468.51
Inventory change (+/-) EUR -3,292,823.01
Capitalised own costs EUR 34,354.50
Other operating income EUR 1,799,121.52
Cost of materials EUR 34,379,666.06
Raw materials and supplies, purchased
goods EUR 31,738,368.24
Purchased services EUR 2,641,297.82
Gross result (+/-) EUR 43,766,876.80
Staff expenses EUR 20,415,312.56
Wages and salaries EUR 16,935,748.59
Social security contributions and
expenses for pension plans and
benefits EUR 3,479,563.97
Total depreciation EUR 4,651,910.02
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 4,651,910.02
Other operating expenses EUR 14,673,990.38
Operating result from continuing
operations EUR 4,025,663.84
Interest result (+/-) EUR -577,985.12
Interest and similar income EUR 3,463.03
Interest and similar expenses EUR 581,448.15
thereof paid to related companies EUR 404,290.48
Other financial result EUR -7,107.75
Depreciation on financial assets and
marketable securities EUR 7,107.75
Financial result (+/-) EUR -585,092.87
Result from ordinary operations (+/-) EUR
3,440,570.97
Extraordinary expenses EUR 34,540.00
Extraordinary result (+/-) EUR -34,540.00
Income tax / refund of income tax
(+/-)EUR -292,826.31
Other taxes / refund of taxes EUR -124,527.56
Tax (+/-) EUR -417,353.87
Annual surplus / annual deficit EUR 2,988,677.10
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.