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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502835

Report Date :

06.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

THERMOFIN GMBH

 

 

Registered Office :

Am Windrad 1, D 08468 Heinsdorfergrund

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

29.05.2002

 

 

Com. Reg. No.:

HRB 20024

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Manufacture of non-domestic cooling and ventilation equipment

·         Wholesale of other machinery, equipment and supplies

 

 

No. of Employees :

260

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

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 a large increase in 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 economic 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. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.

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 2017 Germany reached a budget surplus of 0.7%. 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 during 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 largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, 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. Domestic consumption, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high

 

Source : CIA

 

 

Company name & address

 

THERMOFIN GMBH

 

 Company Status:         active

                                    Am Windrad 1

                                    D 08468 Heinsdorfergrund

                                    Telephone:03765/38000

                                    Telefax:  03765/38008038

                                    Homepage: www.thermofin.de

                                    E-mail:   info@thermofin.de

 

 VAT no.:                      DE223360359

 Tax ID number:             223/121/02149

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

 LEGAL FORM           Private Limited Company

 Date of foundation:  29.05.2002

 Begin of business

 activities:          08.2003

 Shareholders'

 agreement:           29.05.2002

 Registered on:       22.08.2002

 Commercial Register: Local court 09112 Chemnitz

 under:               HRB 20024

 

 Share capital:                          EUR          1,000,000.00

 

 Shareholder:

                      Bernd Löffler

                      Willy-Brandt-Str. 46

                      D 08529 Plauen

                      born: 21.12.1966

                      Share:             EUR            945,000.00

 Shareholder:

                      SLH Beteiligungs GmbH

                      Am Schloßberg 24

                      D 82547 Eurasburg

                      Legal form: Private limited company

                      Share capital:     EUR             37,500.00

                      Share:             EUR             35,000.00

                      Registered on: 25.03.1999

                      Reg. data: 80333 München, HRB 124789

 Shareholder:

                      Willi Löffler

                      Am Schloßberg 24

                      D 82547 Eurasburg

                      born: 05.01.1941

                      Share:             EUR             20,000.00

 Manager:

                      Bernd Löffler

                      Willy-Brandt-Str. 46

                      D 08529 Plauen

                      having sole power of representation

                      born: 21.12.1966

                      Marital status: married

 Proxy:

                      Ron Bauer

                      Hauptstr. 96

                      D 08485 Lengenfeld

                      having sole power of representation

                      born: 18.02.1988

 

 Further functions/participations of Bernd Löffler (Manager)

 Manager:

                      thermofin Holding GmbH

                      Am Windrad 1

                      D 08468 Heinsdorfergrund

                      Legal form: Private limited company

                      Share capital:     EUR            111,224.00

                      Registered

                      on:         20.03.2008

                      Reg. data:  09112 Chemnitz, HRB 24089

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 28250   Manufacture of non-domestic cooling and ventilation equipment

 

 Secondary industrial sector

 4669    Wholesale of other machinery, equipment and supplies

 

 

FINANCIAL INFORMATION

 

Payment experience:  No Complaints

 

 Negative information: We have no negative information at hand.

 

Balance sheet year:  2015

 

 

 PMI:              No significant / relevant payment experience

                      information pertaining to the company

                      inquired upon is shown in the Deutscher

                      Debitoren Monitor (DDMonitor).

 

 

REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Am Windrad 1

                      D 08468 Heinsdorfergrund

 Size:                 35,000.00 sq.m

 Value at selling price:                 EUR            500,000.00

 

 Real Estate of:      Bernd Löffler

 Type of ownership:   unknown

 Address              Willy-Brandt-Str. 46

                      D 08529 Plauen

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 SPARKASSE VOGTLAND, 08502 PLAUEN

 Sort. code: 87058000, Account no.: 3250000379

 BIC: WELADED1PLX, IBAN: DE03870580003250000379

 

 Further banks

 COMMERZBANK, 09004 CHEMNITZ

 Sort. code: 87040000, Account no.: 358040400

 BIC: COBADEFFXXX, IBAN: DE04870400000358040400

 DEUTSCHE BANK, 09003 CHEMNITZ

 Sort. code: 87070000, Account no.: 3090107

 BIC: DEUTDE8CXXX, IBAN: DE05870700000309010700

 LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144

 STUTTGART

 Sort. code: 60050101, Account no.: 2949523

 BIC: SOLADEST600, IBAN: DE33600501010002949523

 

 

FINANCIAL FIGURES

 

 Turnover:            2015               EUR         62,029,511.00

                      2016               EUR         63,000,000.00

 Profit:              2015               EUR          3,220,851.00

 further business figures:

 Equipment:                              EUR          1,138,484.00

 Ac/ts receivable:                       EUR         11,335,661.00

 Liabilities:                            EUR         12,834,152.00

 Real estate of the firm:                EUR            500,000.00

 Employees:                                                    260

 - Trainees:                                                    10

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2015 - 31.12.2015

 Equity ratio [%]:                 57.87

 Liquidity ratio:                   1.01

 Return on total capital [%]:       8.91

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 54.26

 Liquidity ratio:                   0.89

 Return on total capital [%]:      13.01

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 55.51

 Liquidity ratio:                   0.97

 Return on total capital [%]:      10.35

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 49.37

 Liquidity ratio:                   0.68

 Return on total capital [%]:      11.90

 

 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:       self-disclosure

 

 Financial year:      01.01.2015 - 31.12.2015

 

 ASSETS                                  EUR         36,128,739.41

  Fixed assets                           EUR         13,467,367.94

   Intangible assets                     EUR            151,373.16

    Concessions, licences, rights        EUR            151,373.16

   Tangible assets                       EUR         12,990,994.78

    Land / similar rights                EUR          6,519,104.97

    Plant / machinery                    EUR          3,745,742.39

    Other tangible assets / fixtures and

    fittings                             EUR          1,138,484.13

    Advance payments made / construction

    in progress                          EUR          1,587,663.29

   Financial assets                      EUR            325,000.00

    Other loans                          EUR            325,000.00

  Current assets                         EUR         22,495,412.08

   Stocks                                EUR          9,546,801.73

    Raw materials, consumables and

    supplies                             EUR          5,370,546.73

    Finished goods / work in progress    EUR          4,176,255.00

   Accounts receivable                   EUR         11,335,661.06

    Trade debtors                        EUR         10,259,363.77

    Other debtors and assets             EUR          1,076,297.29

   Liquid means                          EUR          1,612,949.29

  Remaining other assets                 EUR            165,959.39

   Accruals (assets)                     EUR            165,959.39

 

 LIABILITIES                             EUR         36,128,739.41

  Shareholders' equity                   EUR         20,906,160.32

   Capital                               EUR          1,000,000.00

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

   Reserves                              EUR         17,000,000.00

    Retained earnings / revenue reserves EUR         17,000,000.00

   Balance sheet profit/loss (+/-)       EUR          2,906,160.32

    Profit / loss brought forward        EUR          1,685,308.90

    Annual surplus / annual deficit      EUR          3,220,851.42

    Transfer to reserve                  EUR         -2,000,000.00

  Provisions                             EUR          2,388,426.73

   Other / unspecified provisions        EUR          2,388,426.73

  Liabilities                            EUR         12,834,152.36

   Financial debts                       EUR          5,355,972.86

    Liabilities due to banks             EUR          5,355,972.86

   Other liabilities                     EUR          7,478,179.50

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          2,607,646.15

    Liabilities from received advance

    payments                             EUR            608,889.28

    Unspecified other liabilities        EUR          4,261,644.07

 

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

 Code (HGB)

  Sales                                  EUR         62,029,511.37

  Inventory change + own costs (+/-)     EUR          1,126,241.00

   Inventory change (+/-)                EUR          1,126,241.00

  Other operating income                 EUR          3,446,554.70

  Cost of materials                      EUR         39,646,233.62

   Raw materials and supplies, purchased

   goods                                 EUR         29,787,692.92

   Purchased services                    EUR          9,858,540.70

  Gross result (+/-)                     EUR         26,956,073.45

  Staff expenses                         EUR         12,627,434.85

   Wages and salaries                    EUR         10,569,889.20

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          2,057,545.65

  Total depreciation                     EUR          1,508,714.21

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,508,714.21

  Other operating expenses               EUR          7,997,080.00

  Operating result from continuing

  operations                             EUR          4,822,844.39

  Interest result (+/-)                  EUR           -357,492.85

   Interest and similar income           EUR             17,779.82

   Interest and similar expenses         EUR            375,272.67

  Financial result (+/-)                 EUR           -357,492.85

  Result from ordinary operations (+/-)  EUR          4,465,351.54

  Income tax / refund of income tax (+/-)EUR         -1,216,793.72

  Other taxes / refund of taxes          EUR            -27,706.40

  Tax (+/-)                              EUR         -1,244,500.12

  Annual surplus / annual deficit        EUR          3,220,851.42

 

 Type of balance

 sheet:               Company balance sheet

 Origin of the present

 balance sheet:       self-disclosure

 

 Financial year:      01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR         32,595,146.04

  Fixed assets                           EUR         12,317,861.48

   Intangible assets                     EUR            113,580.47

    Concessions, licences, rights        EUR            113,580.47

   Tangible assets                       EUR         11,879,281.01

    Land / similar rights                EUR          6,665,800.16

    Plant / machinery                    EUR          4,001,091.23

    Other tangible assets / fixtures and

    fittings                             EUR          1,031,927.81

    Advance payments made / construction

    in progress                          EUR            180,461.81

   Financial assets                      EUR            325,000.00

    Other loans                          EUR            325,000.00

  Current assets                         EUR         20,160,545.70

   Stocks                                EUR          8,686,115.61

    Raw materials, consumables and

    supplies                             EUR          5,592,930.41

    Finished goods / work in progress    EUR          3,050,014.00

    Advance payments made                EUR             43,171.20

   Accounts receivable                   EUR          9,163,502.19

    Trade debtors                        EUR          8,821,810.68

    Other debtors and assets             EUR            341,691.51

   Liquid means                          EUR          2,310,927.90

  Remaining other assets                 EUR            116,738.86

   Accruals (assets)                     EUR            116,738.86

 

 LIABILITIES                             EUR         32,595,146.04

  Shareholders' equity                   EUR         17,685,308.90

   Capital                               EUR          1,000,000.00

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

   Reserves                              EUR         15,000,000.00

    Retained earnings / revenue reserves EUR         15,000,000.00

   Balance sheet profit/loss (+/-)       EUR          1,685,308.90

    Profit / loss brought forward        EUR          2,894,622.50

    Annual surplus / annual deficit      EUR          4,240,686.40

    Transfer to reserve                  EUR         -5,000,000.00

    withdrawn/distributed                EUR           -450,000.00

  Provisions                             EUR          2,321,870.62

   Provisions for taxes                  EUR            578,480.73

   Other / unspecified provisions        EUR          1,743,389.89

  Liabilities                            EUR         12,587,966.52

   Financial debts                       EUR          5,651,431.74

    Liabilities due to banks             EUR          5,651,431.74

   Other liabilities                     EUR          6,936,534.78

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          1,939,654.84

    Liabilities from received advance

    payments                             EUR            347,173.15

    Unspecified other liabilities        EUR          4,649,706.79

 

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

 Code (HGB)

  Sales                                  EUR         55,026,982.53

  Inventory change + own costs (+/-)     EUR            827,997.00

   Inventory change (+/-)                EUR            827,997.00

  Other operating income                 EUR          2,348,003.41

  Cost of materials                      EUR         33,520,076.67

   Raw materials and supplies, purchased

   goods                                 EUR         25,537,844.09

   Purchased services                    EUR          7,982,232.58

  Gross result (+/-)                     EUR         24,682,906.27

  Staff expenses                         EUR         10,864,677.61

   Wages and salaries                    EUR          9,106,182.95

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,758,494.66

  Total depreciation                     EUR          1,334,460.66

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,334,460.66

  Other operating expenses               EUR          6,093,581.33

  Operating result from continuing

  operations                             EUR          6,390,186.67

  Interest result (+/-)                  EUR           -382,851.59

   Interest and similar income           EUR             19,699.19

   Interest and similar expenses         EUR            402,550.78

  Financial result (+/-)                 EUR           -382,851.59

  Result from ordinary operations (+/-)  EUR          6,007,335.08

  Income tax / refund of income tax (+/-)EUR         -1,721,016.48

  Other taxes / refund of taxes          EUR            -45,632.20

  Tax (+/-)                              EUR         -1,766,648.68

  Annual surplus / annual deficit        EUR          4,240,686.40

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.06

UK Pound

1

INR 91.50

Euro

1

INR 79.78

EUR

1

INR 79.48

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Report Prepared by :

KET

 

 

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