|
Report No. : |
347020 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUMBOLDT WEDAG GMBH |
|
|
|
|
Registered Office : |
Colonia-Allee 3, D 51067 Köln |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
19.09.2007 |
|
|
|
|
Com. Reg. No.: |
HRB 61524 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture
of other general-purpose machinery n.e.c. ·
Wholesale
of other equipment and accessories for machinery and technical supplies ·
Engineering
activities in the field of technical overall planning ·
Other
service activities n. e. c. |
|
|
|
|
No. of Employees : |
258 |
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 : |
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 – 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 |
HUMBOLDT
WEDAG GMBH
Company Status: Active
Colonia-Allee 3
D 51067 Köln
Telephone:0221/65040
Telefax: 0221/65041175
Homepage: www.khd.com
E-mail: info@khd.com
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 19.09.2007
Shareholders'
agreement: 19.09.2007
Registered on: 05.10.2007
Commercial Register: Local court 50939 Köln
under: HRB
61524
Share capital: EUR 6,600,000.00
Shareholder:
KHD Humboldt Wedag GmbH
Colonia-Allee 3
D 51067 Köln
Legal form: Private
limited company
Share capital: EUR
15,339,300.00
Share: EUR 6,600,000.00
Registered on: 25.04.2005
Reg. data: 50939 Köln,
HRB 55172
Manager:
Johan Piet Cnossen
NL Zoetermeer
born: 12.02.1960
Nationality: Dutch
Manager:
Michael Nielsen
D 53773 Hennef
born: 13.11.1964
Manager:
Jürgen Eduard Luckas
D 51067 Köln
born: 10.03.1968
Proxy:
Bernd Steinhilper
D 51105 Köln
authorized to jointly represent the company
born: 05.01.1958
Profession: Businessman
Marital status: unknown
Proxy:
Manfred Lorenz
D 53859 Niederkassel
authorized to jointly
represent the company
born: 25.04.1955
Proxy:
Philip Ringberg
D 50667 Köln
authorized to jointly
represent the company
born: 03.09.1973
Proxy:
Martin Gierse
D 51067 Köln
authorized to jointly
represent the company
born: 26.02.1956
Further
functions/participations of Johan Piet Cnossen (Manager)
Manager:
ZAB Zementanlagenbau GmbH
Dessau
Brauereistr. 13
D 06847 Dessau-Roßlau
Legal form: Private limited
company
Share capital: EUR 2,000,000.00
Registered
on: 26.09.1990
Reg. data: 39576 Stendal, HRB 10216
Manager:
KHD Humboldt Wedag GmbH
Colonia-Allee 3
D 51067 Köln
Legal form: Private
limited company
Share capital: EUR
15,339,300.00
Registered
on: 25.04.2005
Reg. data: 50939 Köln, HRB 55172
Member of the Board of Directors:
KHD Humboldt Wedag
International AG
Colonia-Allee 3
D 51067 Köln
Legal form: Public
limited company
Share capital: EUR
49,703,573.00
Registered
on: 24.10.1911
Reg. data: 50939 Köln, HRB 36688
Further functions/participations of Michael
Nielsen (Manager)
Member of the Board of Directors:
KHD Humboldt Wedag
Industrial Services AG
Colonia-Allee 3
D 51067 Köln
Legal form: Public
limited company
Share capital: EUR 3,600,000.00
Registered
on: 21.01.2009
Reg. data: 50939 Köln, HRB 64938
Further functions/participations of Jürgen
Eduard Luckas
(Manager)
Manager:
KHD Humboldt Wedag GmbH
Colonia-Allee 3
D 51067 Köln
Legal form: Private
limited company
Share capital: EUR
15,339,300.00
Registered
on: 25.04.2005
Reg. data: 50939 Köln, HRB 55172
Manager:
ZAB Zementanlagenbau GmbH
Dessau
Brauereistr. 13
D 06847 Dessau-Roßlau
Legal form: Private
limited company
Share capital: EUR 2,000,000.00
Registered
on: 26.09.1990
Reg. data: 39576 Stendal, HRB 10216
Member of the Board of Directors:
KHD Humboldt Wedag
International AG
Colonia-Allee 3
D 51067 Köln
Legal form: Public
limited company
Share capital: EUR
49,703,573.00
Registered
on: 24.10.1911
Reg. data: 50939 Köln, HRB 36688
26.01.1993 - 08.09.1994 AIG Altmark-Industrie GmbH
Niedergörner Damm
D 39596 Arneburg
Private limited
company
18.05.2004 - 24.05.2005 AIG Altmark-Industrie AG, Stendal
Niedergörner Damm 1
D 39596 Arneburg
Public limited
company
24.05.2005 - 05.10.2007 Altmark Industriepark AG
Niedergörner Damm 1
D 39596 Arneburg
Public limited
company
12.05.2010 - 11.05.2015 Manager
Ralph Detlef
Quellmalz
D 51067 Köln
12.05.2010 - 18.12.2012 Manager
Ralf Slomski
D 51427 Bergisch
Gladbach
Main industrial sector
2829
Manufacture of other general-purpose machinery n.e.c.
46693
Wholesale of other equipment and accessories for machinery and technical
supplies
71121
Engineering activities in the field of technical overall planning
96090
Other service activities n. e. c.
Shareholder:
SAB Stendal-Arneburger Baugesellschaft
mbH
Akazienweg 25b
D 39576 Stendal
Post Box:
184
Legal form: Private
limited company
Company Status: insolvent
since: 03.08.1999
Share capital: EUR 306,775.13
Share: EUR 150,319.81
Reg. data: 07.08.1995
Local court
39576 Stendal
HRB 2055
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2014
Type of ownership: Tenant
Address Colonia-Allee 3
D 51067 Köln
Land register documents were not
available.
DEUTSCHE BANK, 50587 KÖLN
Sort. code: 37070060
BIC: DEUTDEDKXXX
Turnover: 2013 EUR 58,628,000.00
2014 EUR 91,212,000.00
Profit: 2014 EUR -3,549,000.00
further business figures:
Equipment: EUR 788,000.00
Ac/ts receivable: EUR 64,507,000.00
Liabilities: EUR 24,033,000.00
Employees:
258
-
Trainees:
2
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 48.29
Liquidity ratio: 10.00
Return on total capital [%]: -3.14
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 47.32
Liquidity ratio: 10.00
Return on total capital [%]: -6.46
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 44.31
Liquidity ratio: 10.00
Return on total capital [%]: -2.70
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 44.74
Liquidity ratio: 10.00
Return on total capital [%]: 9.00
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 113,400,000.00
Fixed assets
EUR 12,587,000.00
Intangible assets
EUR 2,079,000.00
Concessions, licences, rights
EUR 1,887,000.00
Advance payments for intang. assets
EUR 192,000.00
Tangible assets EUR 1,708,000.00
Land / similar rights
EUR 211,000.00
Plant / machinery
EUR 709,000.00
Other tangible assets / fixtures and
fittings
EUR 788,000.00
Financial assets
EUR 8,800,000.00
Shares in participations /
subsidiaries and the like
EUR 5,150,000.00
Shares in related companies
EUR 5,150,000.00
Loans to participations /
subsidiaries and the like
EUR 3,650,000.00
Loans to related companies
EUR 3,650,000.00
Current assets
EUR 100,246,000.00
Stocks EUR 6,521,000.00
Raw materials, consumables and
supplies
EUR 264,000.00
Finished goods / work in progress
EUR 196,066,000.00
Advance payments made
EUR 10,381,000.00
Minus received advance payments for
orders / installments for stocks
EUR -200,190,000.00
Accounts receivable
EUR 64,507,000.00
thereof total due from shareholders
EUR 242,000.00
Trade debtors
EUR 13,099,000.00
Amounts due from related companies
EUR 49,487,000.00
Other debtors and assets
EUR 1,921,000.00
Investments in current assets
EUR 232,000.00
Other investments
EUR 232,000.00
Liquid means
EUR 28,986,000.00
Remaining other assets
EUR 567,000.00
Accruals (assets) EUR 567,000.00
LIABILITIES EUR 113,400,000.00
Shareholders' equity
EUR 54,886,000.00
Capital
EUR 7,000,000.00
Subscribed capital (share capital)
EUR 7,000,000.00
Reserves
EUR 675,000.00
Retained earnings / revenue reserves EUR 675,000.00
Balance sheet profit/loss (+/-)
EUR 47,211,000.00
Profit / loss brought forward
EUR 50,760,000.00
Annual surplus / annual deficit
EUR -3,549,000.00
Provisions
EUR 34,481,000.00
Pension provisions and comparable
provisions EUR 19,257,000.00
Other / unspecified provisions
EUR 15,224,000.00
Liabilities
EUR 24,033,000.00
Other liabilities
EUR 24,033,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 6,685,000.00
Liabililties due to related companiesEUR 16,773,000.00
Unspecified other liabilities
EUR 575,000.00
thereof liabilities from tax /
financial authorities
EUR 320,000.00
thereof liabilities from social
security
EUR 65,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 91,212,000.00
Inventory change + own costs (+/-)
EUR 15,079,000.00
Inventory change (+/-)
EUR 15,079,000.00
Other operating income
EUR 4,536,000.00
Cost of materials
EUR 75,238,000.00
Raw materials and supplies, purchased
goods
EUR 60,337,000.00
Purchased services
EUR 14,901,000.00
Gross
result (+/-) EUR 35,589,000.00
Staff expenses
EUR 19,565,000.00
Wages and salaries
EUR 17,482,000.00
Social security contributions and
expenses for pension plans and
benefits
EUR 2,083,000.00
Total depreciation
EUR 1,387,000.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,387,000.00
Other operating expenses
EUR 16,543,000.00
Operating result from continuing
operations
EUR -1,906,000.00
Interest result (+/-)
EUR -1,412,000.00
Interest and similar income
EUR 403,000.00
thereof from related companies
EUR 311,000.00
Interest and similar expenses
EUR 1,815,000.00
thereof paid to related companies
EUR 796,000.00
Other financial result
EUR -218,000.00
Income from securities and loans from
financial assets
EUR 24,000.00
thereof related companies
EUR 24,000.00
Depreciation on financial assets and
marketable securities
EUR 242,000.00
Financial result (+/-)
EUR -1,630,000.00
Result from ordinary operations (+/-)
EUR -3,536,000.00
Income tax / refund of income tax (+/-)EUR -13,000.00
Tax
(+/-)
EUR -13,000.00
Annual surplus / annual deficit
EUR -3,549,000.00
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 123,491,000.00
Fixed assets
EUR 23,199,000.00
Intangible assets
EUR 2,677,000.00
Concessions, licences, rights
EUR 2,485,000.00
Advance payments for intang. assets
EUR 192,000.00
Tangible assets
EUR 1,117,000.00
Land / similar rights
EUR 235,000.00
Plant / machinery
EUR 45,000.00
Other tangible assets / fixtures and
fittings
EUR 837,000.00
Financial assets
EUR 19,405,000.00
Shares in participations /
subsidiaries and the like
EUR 5,032,000.00
Shares in related companies
EUR 5,032,000.00
Loans to participations /
subsidiaries and the like
EUR 14,373,000.00
Loans to related companies
EUR 14,373,000.00
Current assets
EUR 99,621,000.00
Stocks EUR
29,277,000.00
Raw materials, consumables and
supplies
EUR 250,000.00
Finished goods / work in progress
EUR 180,987,000.00
Advance payments made
EUR 20,305,000.00
Minus received advance payments for
orders / installments for stocks
EUR -172,265,000.00
Accounts receivable
EUR 28,028,000.00
thereof total due from shareholders
EUR 0.00
Trade
debtors EUR 14,334,000.00
Amounts due from related companies
EUR 9,711,000.00
Other debtors and assets
EUR 3,983,000.00
Investments in current assets
EUR 474,000.00
Other investments
EUR 474,000.00
Liquid means
EUR 41,842,000.00
Remaining other assets
EUR 671,000.00
Accruals (assets)
EUR 671,000.00
LIABILITIES EUR 123,491,000.00
Shareholders' equity
EUR 58,436,000.00
Capital
EUR 7,000,000.00
Subscribed capital (share capital)
EUR 7,000,000.00
Reserves
EUR 675,000.00
Retained earnings / revenue reserves EUR 675,000.00
Balance sheet profit/loss (+/-)
EUR 50,761,000.00
Profit / loss brought forward
EUR 58,742,000.00
Annual surplus / annual deficit
EUR -7,981,000.00
Provisions
EUR 40,041,000.00
Pension provisions and comparable
provisions
EUR 20,385,000.00
Other / unspecified provisions
EUR 19,656,000.00
Liabilities
EUR 25,014,000.00
Other liabilities
EUR 25,014,000.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 15,581,000.00
Liabililties due to related companiesEUR 8,649,000.00
Unspecified other liabilities
EUR 784,000.00
thereof liabilities from tax /
financial
authorities EUR 286,000.00
thereof liabilities from social
security
EUR 1,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 58,628,000.00
Inventory change + own costs (+/-)
EUR 70,145,000.00
Inventory change (+/-)
EUR 70,145,000.00
Other operating income
EUR 9,790,000.00
Cost of materials
EUR 100,032,000.00
Raw materials and supplies, purchased
goods
EUR 85,580,000.00
Purchased services
EUR 14,452,000.00
Gross result (+/-)
EUR 38,531,000.00
Staff expenses
EUR 20,491,000.00
Wages and salaries
EUR 17,786,000.00
Social security contributions and
expenses for pension plans and
benefits
EUR 2,705,000.00
Total depreciation
EUR 1,443,000.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,443,000.00
Other operating expenses
EUR 22,340,000.00
Operating result from continuing
operations
EUR -5,743,000.00
Interest result (+/-)
EUR -2,284,000.00
Interest and similar income
EUR 224,000.00
Interest and similar expenses
EUR 2,508,000.00
thereof paid to related companies
EUR 1,198,000.00
Other financial result
EUR -79,000.00
Income from securities and loans from
financial assets
EUR 29,000.00
thereof related companies
EUR 29,000.00
Depreciation on financial assets and
marketable securities
EUR 108,000.00
Financial result (+/-)
EUR -2,363,000.00
Result from ordinary operations (+/-)
EUR -8,106,000.00
Income tax / refund of income tax (+/-)EUR 125,000.00
Tax
(+/-)
EUR 125,000.00
Annual surplus / annual deficit
EUR -7,981,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.