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Report No. : |
345460 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
WALTERWERK
KIEL GMBH & CO. KOMMANDITGESELLSCHAFT |
|
|
|
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Registered Office : |
Projensdorfer
Str. 324 D 24106 Kiel |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1935 |
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Com. Reg. No.: |
HRA 3467 KI |
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Legal Form : |
Ltd partnership
with priv. ltd. company as general partner |
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Line of Business : |
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No. of Employees : |
68 |
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 |
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Status : |
Satisfactory |
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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 – 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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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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 5.2% 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 |
WALTERWERK
KIEL GmbH & Co. Kommanditgesellschaft
Projensdorfer
Str. 324
D 24106
Kiel
Telephone:0431/3058-0
Telefax: 0431/3058-222
Homepage: www.walterwerk.com
E-mail: p.hansen@walterwerk.com
Active
DE159459955
19 288
23403
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 1935
Begin of business
activities: 01.07.1993
Registered on: 01.07.1993
Register of
companies: Local
court 24114 Kiel
under: HRA
3467 KI
Total cap. contribution: EUR 300,000.00
Limited partner:
Hellmuth Walter
Gesellschaft mit
beschränkter Haftung
Projensdorfer Str. 324
D 24106 Kiel
Legal form: Private
limited company
Share capital: EUR 300,000.00
Share: EUR 150,000.00
Registered on: 07.03.1957
Reg. data: 24114 Kiel,
HRB 72 KI
Limited partner:
Andreas Alexander Eule
Weißdornweg 11a
D 24107 Kiel
born: 14.05.1968
Share: EUR 75,000.00
Limited partner:
Dr. Angelika Eule
Weißdornweg 11a
D 24107 Kiel
born: 24.03.1968
née: Fröhler
Share: EUR 75,000.00
General partner:
F & E Management GmbH
Projensdorfer Str. 324
D 24106 Kiel
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered on: 24.04.2002
Reg. data: 24114 Kiel,
HRB 5863 KI
Shareholder:
Andreas Alexander Eule
Weißdornweg 11a
D 24107 Kiel
born: 14.05.1968
Share: EUR 25,000.00
Manager:
Andreas Alexander Eule
Weißdornweg 11a
D 24107 Kiel
having sole power of
representation
born: 14.05.1968
Profession: Businessman
Marital status: married
Manager:
Uwe Schröder
D 24248 Mönkeberg
having sole power of
representation
born: 15.09.1955
Profession: Businessman
Proxy:
Peter Hansen
D 24103 Kiel
authorized to jointly
represent the company
born: 17.09.1949
Proxy:
Markus Bartels
D 24582 Bordesholm
authorized to jointly
represent the company
born: 07.03.1968
Proxy:
Dieter Kempaß
D 24106 Kiel
authorized to jointly represent the
company
born: 04.01.1961
Main industrial sector
28290 Manufacture of other general-purpose
machinery
28990 Manufacture of other special-purpose
machinery n.e.c.
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
PMI: No significant / relevant payment experience
information pertaining to the company
inquired upon is shown in the Deutscher
Debitoren Monitor (DDMonitor).
Type of ownership: Tenant
Address Projensdorfer
Str. 324
D 24106 Kiel
Real Estate of: F
& E Management GmbH
Type of ownership: Tenant
Address Projensdorfer
Str. 324
D 24106 Kiel
Real Estate of: Hellmuth
Walter Gesellschaft mit
beschränkter Haftung
Type of ownership: Tenant
Address Projensdorfer
Str. 324
D 24106 Kiel
Land register documents were not available.
Principal bank
COMMERZBANK, 24100 KIEL
Sort. code: 21040010
BIC: COBADEFFXXX
Further bank
HSH NORDBANK HAMBURG, KIEL, 20095 HAMBURG
Sort. code: 21050000
BIC: HSHNDEHHXXX
Gross profit or
loss:2013 EUR 8,271,202.00
2014 EUR 8,000,000.00
Profit: 2013 EUR 674,373.00
further business figures:
Equipment: *EUR 544,000.00
Ac/ts receivable: EUR 1,116,543.00
Liabilities: EUR 1,036,917.00
Employees:
68
- thereof permanent
staff:
68
The business figures marked with an asterisk
are estimates based on average values in the line of business.
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 27.35
Liquidity ratio: 1.27
Return on total capital [%]: 14.39
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 31.11
Liquidity ratio: 10.00
Return on total capital [%]: 13.29
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 26.10
Liquidity ratio: 10.00
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 33.40
Liquidity ratio: 10.00
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.
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.
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: 01.01.2013
- 31.12.2013
ASSETS EUR 4,718,506.80
Fixed assets EUR 713,988.00
Intangible assets EUR 2,366.00
Tangible assets EUR 111,622.00
Financial assets EUR 600,000.00
Current assets EUR 3,953,565.65
Stocks EUR 2,677,017.94
Accounts receivable EUR 1,116,542.53
Liquid means EUR 160,005.18
Remaining other
assets EUR 50,953.15
Accruals (assets) EUR 50,953.15
LIABILITIES EUR 4,718,506.80
Shareholders' equity EUR 1,291,553.35
Capital EUR 306,553.35
Capital of the fully
liable partner
(LP, general partnership) EUR 6,553.35
Capital contribution of
gen.
partner/accounts of the
pers. liable
shareholder EUR 6,553.35
Limited partner's
capital / capital
of partially liable
partner (LP) EUR 300,000.00
Reserves EUR 985,000.00
Retained earnings /
revenue reserves EUR
985,000.00
Provisions EUR 2,390,036.74
Liabilities EUR 1,036,916.71
Guarantees and other
commitments EUR 316,000.00
Guarantees /
warranties EUR 316,000.00
Guarantees EUR 316,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 8,271,201.86
Staff expenses EUR 4,399,865.51
Wages and salaries EUR 3,801,990.81
Social security
contributions and
expenses for pension
plans and
benefits EUR 597,874.70
Total depreciation EUR 52,211.67
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 52,211.67
Other operating
expenses EUR 2,754,439.93
Operating result from
continuing
operations EUR 1,064,684.75
Interest result (+/-) EUR -155,343.95
Interest and similar
income EUR 9,302.87
Interest and similar
expenses EUR 164,646.82
Financial result (+/-) EUR -155,343.95
Result from ordinary
operations (+/-) EUR 909,340.80
Extraordinary
expenses EUR 4,314.10
Extraordinary result
(+/-) EUR -4,314.10
Expenses for transfer of
profits to a
parent company EUR 19,038.39
Income tax / refund of
income tax (+/-)EUR -222,704.00
Other taxes / refund of
taxes EUR -7,949.31
Tax (+/-) EUR -230,653.31
Annual surplus / annual
deficit EUR 655,335.00
Type of balance sheet: Company
balance sheet
Origin of the present balance sheet: electronic
German Federal Gazette
Financial year: 01.01.2012
- 31.12.2012
ASSETS EUR 4,297,701.38
Fixed assets EUR 216,069.00
Intangible assets EUR 6,276.00
Tangible assets EUR 109,793.00
Financial assets EUR 100,000.00
Current assets EUR 4,053,108.00
Stocks EUR 213,264.49
Accounts receivable EUR 1,215,261.63
Liquid means EUR 2,624,581.88
Remaining other
assets EUR 28,524.38
Accruals (assets) EUR 28,524.38
LIABILITIES EUR 4,297,701.38
Shareholders' equity EUR 1,210,576.10
Capital EUR 305,523.10
Capital of the fully
liable partner
(LP, general
partnership) EUR 5,523.10
Capital contribution of
gen.
partner/accounts of the
pers. liable
shareholder EUR 5,523.10
Limited partner's
capital / capital
of partially liable partner (LP) EUR 300,000.00
Limited partner's capital, fixed
capital, capital
account I EUR 300,000.00
Reserves EUR 605,053.00
Retained earnings /
revenue reserves EUR
605,053.00
Third party shares
(+/-) EUR 300,000.00
Provisions EUR 2,137,820.90
Liabilities EUR 949,304.38
Other liabilities EUR 949,304.38
Liabilities due to
shareholders EUR 172,000.00
Unspecified other
liabilities EUR 777,304.38
Guarantees and other
commitments EUR 1,702,000.00
Guarantees /
warranties EUR 1,702,000.00
Guarantees EUR 1,702,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 7,601,363.77
Staff expenses EUR 4,143,384.04
Wages and salaries EUR 3,542,598.61
Social security
contributions and
expenses for pension
plans and
benefits EUR 600,785.43
Total depreciation EUR 47,794.02
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 47,794.02
Other operating
expenses EUR 2,556,746.65
Operating result from
continuing
operations EUR 853,439.06
Interest result (+/-) EUR -90,207.46
Interest and similar income EUR 22,868.78
Interest and similar
expenses EUR 113,076.24
Financial result
(+/-) EUR -90,207.46
Result from ordinary
operations (+/-) EUR 763,231.60
Extraordinary
expenses EUR 4,314.00
Extraordinary result
(+/-) EUR -4,314.00
Expenses for transfer of
profits to a
parent company EUR 18,469.82
Income tax / refund of
income tax (+/-)EUR -192,802.00
Other taxes / refund of
taxes EUR -7,948.21
Tax (+/-) EUR -200,750.21
Annual surplus / annual
deficit EUR 539,697.57
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 68.81 |
|
|
1 |
Rs. 100.11 |
|
Euro |
1 |
Rs. 73.74 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.