MIRA INFORM REPORT

Report No. :	502185
Report Date :	09.04.2018

IDENTIFICATION DETAILS

Name :	CONACORD VOIGT GMBH & CO. KG
Registered Office :	Seilerweg 10, D 59556 Lippstadt
Country :	Germany
Financials (as on) :	2017 [Summarized]
Date of Incorporation :	1855
Com. Reg. No.:	HRA 3426
Legal Form :	Ltd Partnership with Priv. Ltd. Company as General Partner
Line of Business :	· Wholesale of bicycles, bicycle parts and accessories, sports and camping articles (except camping furniture) · Wholesale of other equipment and accessories for machinery and technical supplies
No. of Employees :	45

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

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

CONACORD VOIGT GMBH & CO. KG

Company Status: active

Seilerweg 10

D 59556 Lippstadt

Telephone:02941/9560

Telefax: 02941/956200

Homepage: www.conacord.de

E-mail: post@conacord.de

VAT no.: DE125688160

LEGAL FORM Ltd Partnership with Priv. Ltd. Company as General Partner

Date of foundation: 1855

Registered on: 05.03.1971

Register of

companies: Local court 33098 Paderborn

under: HRA 3426

Total cap. contribution: EUR 1,200,000.00

Limited partner:

Claudius Voigt

Gartenstr. 9

D 59555 Lippstadt

born: 10.02.1974

Share: EUR 1,072,000.00

Limited partner:

Annabel Fennekötter

Gartenstr. 9

D 59555 Lippstadt

born: 20.12.1971

née: Voigt

Share: EUR 128,000.00

General partner:

Voigt Verwaltungs-GmbH

Seilerweg 10

D 59556 Lippstadt

Legal form: Private limited company

Share capital: EUR 51,129.19

Registered on: 19.05.1972

Reg. data: 33098 Paderborn, HRB 5213

Shareholder:

CONACORD Voigt GmbH & Co. KG

Seilerweg 10

D 59556 Lippstadt

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 1,200,000.00

contribution:

Share: EUR 51,129.19

Registered on: 05.03.1971

Reg. data: 33098 Paderborn, HRA 3426

Manager:

Gabriele Voigt

Gartenstr. 9

D 59555 Lippstadt

having sole power of representation

born: 21.07.1942

née: Ellwanger

Marital status: widowed

Manager:

Claudius Voigt

Gartenstr. 9

D 59555 Lippstadt

born: 10.02.1974

Property regime: Statutory matrimonial

property regime

Marital status: married

COMPANY HISTORY

company name and legal form

05.03.1971 - 21.04.1999 CONACORD Werner Voigt GmbH & Co. KG

Seilerweg 10

D 59556 Lippstadt

Ltd partnership with priv. ltd. company

as general partner

BUSINESS ACTIVITIES

Main industrial sector

46492 Wholesale of bicycles, bicycle parts and accessories, sports and camping articles (except camping furniture)

46693 Wholesale of other equipment and accessories for machinery and technical supplies

PARTICIPATIONS

Shareholder:

Voigt Verwaltungs-GmbH

Seilerweg 10

D 59556 Lippstadt

Legal form: Private limited company

Company Status: active

Share capital: EUR 51,129.19

Share: EUR 51,129.19

Reg. data: 19.05.1972

Local court 33098 Paderborn

HRB 5213

FINANCIAL INFORMATION

Payment experience: No Complaints

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).

REAL ESTATE

Type of ownership: proprietor

Share: 100.00 %

Address Seilerweg 10

D 59556 Lippstadt

Type of real estate: factory building

Value at selling price: EUR 2,300,000.00

Real Estate of: Voigt Verwaltungs-GmbH

Type of ownership: Tenant

Address Seilerweg 10

D 59556 Lippstadt

Land register documents were not available.

BANKERS

Principal bank

SPARKASSE LIPPSTADT, 59553 LIPPSTADT

Sort. code: 41650001, Account no.: 67256

BIC: WELADED1LIP, IBAN: DE49416500010000067256

FINANCIAL FIGURES

Financial year: 01.10. - 30.09.

Turnover: 2015/2016 EUR 9,850,000.00

2016/2017 EUR 11,200,000.00

Expected turnover: EUR 12,000,000.00

further business figures:

Total numbers of vehicles: 12

- Lorries: 2

- Passenger cars: 10

Employees: 45

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.98
UK Pound	1	INR 90.95
Euro	1	INR 79.51
EUR	1	INR 79.75

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.