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Report No. : |
345708 |
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Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SUZLON ENERGY GMBH |
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Registered Office : |
Kurt-Dunkelmann-Str. 5, D 18057 Rostock |
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Country : |
Germany |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
22.11.2001 |
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Com. Reg. No.: |
HRB 9571 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Other
Research and Experimental Development on Natural Sciences and Engineering |
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No. of Employees : |
136 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 |
SUZLON ENERGY GMBH
Company Status: active
Kurt-Dunkelmann-Str. 5
D 18057 Rostock
Telephone:0381/12884-0
Telefax:
0381/12884-550
Homepage: www.suzlon.de
E-mail:
germany-info@suzlon.com
VAT
no.: DE233746759
Business relations are permissible.
LEGAL FORM Private limited company
Date
of foundation: 22.11.2001
Shareholders'
agreement: 22.11.2001
Registered on: 20.10.2003
Commercial Register: Local court 18057 Rostock
under: HRB 9571
Share capital: EUR 25,000.00
Shareholder:
SE Drive Technik GmbH
Wasserstr. 223
D 44799 Bochum
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered on: 24.11.2006
Reg. data: 44787 Bochum,
HRB 11018
Manager:
Frans Hilbert Jan
Visscher
NL
Bergen
having sole power of
representation
born: 24.06.1953
Nationality: Dutch
Manager:
Dr. Jens-Uwe Kurt Henkner
D 20095 Hamburg
having sole power of
representation
born: 06.01.1966
Proxy:
Dr. Rüdiger Kortenkamp
D 23617 Stockelsdorf
authorized to jointly
represent the company
born: 06.05.1959
Marital status: unknown
Proxy:
Ole Marquardt
D 21614 Buxtehude
authorized to jointly
represent the company
born: 23.04.1967
Proxy:
Jens Keller
D 18196 Dummerstorf
authorized to jointly
represent the company
born: 09.12.1968
22.11.2001 - 29.08.2002 AX 215 VerwaltungsgesellschaftmbH (AG
Göppingen, HRB 3469)
Wolfshalde 81
D 73061 Ebersbach
Private limited
company
30.08.2002 - 19.10.2003 Suzlon Energy GmbH (AG Berlin, HRB
85894)
Lise-Meitner-Str. 1
D 10589 Berlin
Private limited
company
20.10.2003 - 07.09.2010 Suzlon Energy GmbH
August-Bebel-Str. 10
D 18055 Rostock
Private limited
company
02.12.2009 - 24.06.2013 Manager
John O'Halloran
USA Columbus (Indiana)
Main industrial sector
72190
Other research and experimental development on natural sciences and
engineering
Branch:
Suzlon Energy GmbH
Kühnehöfe 3a
D 22761 Hamburg
TEL.: 040/4600376-0
FAX.: 040/4600376-10
Payment experience: within agreed terms
Negative information:We have no negative information
at hand.
Type of ownership: Tenant
Address Kurt-Dunkelmann-Str. 5
D 18057 Rostock
Land register documents were not available.
A
bank connection is unknown.
Profit: 2012/2013 EUR -1,301,615.00
2013/2014 EUR -1,540,261.00
further business figures:
Ac/ts receivable: EUR 19,588,354.00
Liabilities: EUR 17,434,245.00
Employees:
136
Balance sheet ratios 01.04.2013 - 31.03.2014
Equity ratio [%]: 61.09
Liquidity ratio: 1.19
Return
on total capital [%]: -3.45
Balance sheet ratios 01.04.2012 - 31.03.2013
Equity ratio [%]: 60.08
Liquidity ratio: 1.39
Return on total capital [%]: -2.80
Balance sheet ratios 01.04.2011 - 31.03.2012
Equity ratio [%]: 53.68
Liquidity ratio: 0.23
Return on total capital [%]: 1.69
Balance sheet ratios 01.04.2010 - 31.03.2011
Equity ratio [%]: 67.08
Liquidity ratio: 1.03
Return
on total capital [%]: 1.78
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: 01.04.2013 - 31.03.2014
ASSETS EUR 44,732,734.75
Fixed assets
EUR 1,413,596.32
Intangible assets
EUR 97,980.11
Tangible assets
EUR 1,315,616.21
Current assets
EUR 43,216,351.40
Stocks
EUR 23,427,453.58
Accounts receivable
EUR 19,588,354.15
Liquid means
EUR 200,543.67
Remaining other assets
EUR 102,787.03
Accruals (assets) EUR 102,787.03
LIABILITIES EUR 44,732,734.75
Shareholders' equity
EUR 26,518,579.68
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Reserves
EUR 26,778,951.77
Capital reserves
EUR 26,778,951.77
Balance sheet profit/loss (+/-)
EUR -285,372.09
Profit
/ loss brought forward EUR 1,254,889.01
Annual surplus / annual deficit
EUR -1,540,261.10
Provisions
EUR 779,910.00
Liabilities
EUR 17,434,245.07
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 12,132,734.28
Staff expenses
EUR 9,307,658.11
Wages and salaries EUR 7,941,236.48
Social security contributions and
expenses for pension plans and
benefits
EUR 1,366,421.63
Total depreciation
EUR 1,708,707.30
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,708,707.30
Other operating expenses
EUR 1,932,528.07
Operating result from continuing
operations EUR -816,159.20
Interest result (+/-)
EUR -113,596.90
Interest and similar income
EUR 2,883.51
Interest and similar expenses
EUR 116,480.41
Financial result (+/-)
EUR -113,596.90
Result from ordinary operations (+/-)
EUR -929,756.10
Income tax / refund of income tax (+/-)EUR -610,505.00
Tax
(+/-)
EUR -610,505.00
Annual
surplus / annual deficit EUR -1,540,261.10
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.04.2012 - 31.03.2013
ASSETS EUR 46,622,106.99
Fixed assets
EUR 3,170,928.76
Intangible assets
EUR 243,694.70
Tangible assets
EUR 2,927,234.06
Current assets
EUR 43,304,202.68
Stocks
EUR 19,384,752.12
Accounts receivable
EUR 23,766,433.67
Liquid means
EUR 153,016.89
Remaining other assets
EUR 146,975.55
Accruals (assets)
EUR 146,975.55
LIABILITIES EUR 46,622,106.99
Shareholders' equity EUR 28,058,840.78
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Reserves
EUR 26,778,951.77
Capital reserves EUR 26,778,951.77
Balance sheet profit/loss (+/-)
EUR 1,254,889.01
Profit / loss brought forward
EUR 2,556,504.16
Annual surplus / annual deficit
EUR -1,301,615.15
Provisions
EUR 1,269,586.00
Liabilities
EUR 17,293,680.21
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 16,959,101.22
Staff expenses
EUR 13,795,535.42
Wages and salaries
EUR 11,813,232.80
Social security contributions and
expenses for pension plans and
benefits EUR 1,982,302.62
Total depreciation
EUR 1,067,286.42
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,067,286.42
Other operating expenses
EUR 2,498,259.20
Operating result from continuing
operations
EUR -401,979.82
Interest result (+/-)
EUR -35,140.37
Interest and similar income EUR 571.67
Interest and similar expenses
EUR 35,712.04
Financial result (+/-)
EUR -35,140.37
Result from ordinary operations (+/-)
EUR -437,120.19
Income
tax / refund of income tax (+/-)EUR
-864,494.96
Tax
(+/-)
EUR -864,494.96
Annual surplus / annual deficit
EUR -1,301,615.15
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
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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 |
-- |
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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.