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MIRA INFORM REPORT
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Report No. : |
503263 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
MAN DIESEL & TURBO SE |
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Registered Office : |
Stadtbachstr. 1, D 86153 Augsburg, Post Box: 10 00 80, D 86224 Augsburg |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
01.03.1989 |
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Com. Reg. No.: |
HRB 22056 |
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Legal Form : |
European Company (SE) |
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Line of Business : |
· Manufacture of electric motors, generators and transformators · Manufacture of engines and turbines (except aircraft, vehicle and cycle engines) · Manufacture of other general-purpose machinery · Agents involved in the sale of machines (except agricultural machinery and office machinery) and industrial supplies n.e.c. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company
name & address
MAN DIESEL & TURBO SE
Company Status: Active
Stadtbachstr. 1
D 86153 Augsburg
Post Box:
10 00 80, D 86224 Augsburg
Telephone:0821/322-0
Telefax: 0821/322-4240
Homepage: www.mandieselturbo.com
E-mail: info-de@mandieselturbo.com
VAT no.: DE811136900
LEGAL FORM European Company (SE)
Date of foundation: 01.03.1989
Registered on: 28.08.2006
Commercial Register: Local court 86150 Augsburg
under: HRB 22056
Share
capital
EUR 100,000,000.00
Shareholder:
MAN SE
Dachauer Str. 641
D 80995 München
Post Box:
40 13 47, D 80713 München
Legal form: European Company (SE)
Share capital: EUR 376,422,400.00
Share: 100.000 %
Registered on: 19.05.2009
Reg. data: 80333 München, HRB 179426
Control and profit transfer agreement
Member of the Board of Directors:
Wilfried von Rath
D 86153 Augsburg
authorized to jointly represent the company
born: 10.04.1964
Member of the Board of Directors:
Dr. Uwe Lauber
D 79725 Laufenburg
authorized to jointly represent the company
born: 06.03.1967
Member of the Board of Directors:
Dr. Peter Park
D 82049 Pullach
authorized to jointly represent the company
born: 11.01.1965
Member of the Board of Directors:
Arnd Löttgen
D 83371 Stein a.d.Traun
authorized to jointly represent the company
born: 27.03.1955
Member of the Board of Directors:
Wayne Jones
GB Mellor, Stockport, Cheshire
authorized to jointly represent the company
born: 08.04.1966
Nationality: British
Member of the Board of Directors:
Frank Burnautzki
D 38479 Tappenbeck
authorized to jointly represent the company
born: 10.03.1959
President of the Supervisory Board:
Andreas Renschler
D 70173 Stuttgart
born: 19.03.1958
Marital status: unknown
Vice-president of the Supervisory Board:
Michael Leppek
D 86152 Augsburg
Member of the Supervisory Board:
Dr. Karlheinz Blessing
Probsteigasse 12
D 66117 Saarbrücken
born: 12.05.1957
Profession: Fully qualified political
economist
Marital status: married
Member of the Supervisory Board:
Dr. Hermann Josef Karl Klein
D 20095 Hamburg
born: 03.04.1957
Profession: graduate engineer
Marital status: married
Member of the Supervisory Board:
Jürgen Kerner
D 86343 Königsbrunn
born: 22.01.1969 in Augsburg
Marital status: married
Member of the Supervisory Board:
Michael Behrendt
D 20095 Hamburg
born: 19.06.1951 in Hamburg
Profession: Businessman
Marital status: unknown
Member of the Supervisory Board:
Joachim Drees
D 70184 Stuttgart
born: 20.11.1964 in Düsseldorf
Marital status: unknown
Member of the Supervisory Board:
Jonny Jacobsen
DK - Frederikshavn
Nationality: danish
Member of the Supervisory Board:
Jan-Henrik Lafrentz
D 80995 München
born: 30.08.1966 in Burg a. Fehmarn
Profession: Fully qualified merchant
Marital status: unknown
Member of the Supervisory Board:
Oskar Ritsch
D 86420 Diedorf
Marital status: unknown
Member of the Supervisory Board:
Dr. Jörg Boche
D 38440 Wolfsburg
born: 22.06.1964
Profession: Head of department
Marital status: unknown
Member of the Supervisory Board:
Helmut Brodrick
D 86697 Oberhausen
Marital status: unknown
Member of the Supervisory Board:
Peter Koppers
D 86697 Oberhausen
Marital status: unknown
Member of the Supervisory Board:
Karina Schnur
D 85084 Reichertshofen
Marital status: unknown
Member of the Supervisory Board:
Gunnar Kilian
D 38165 Lehre
Marital status: unknown
Member of the Supervisory Board:
Werner Wiedemann
D 86508 Rehling
Marital status: unknown
Member of the Supervisory Board:
Volker Schlien
D 27404 Zeven
Member of the Supervisory Board:
Göran Stanszus
D 86153 Augsburg
Marital status: unknown
Further functions/participations of Dr. Uwe Lauber (Member of the
Board of Directors)
Member of the Board of Directors:
MAN SE
Dachauer Str. 641
D 80995 München
Post Box:
40 13 47, D 80713 München
Legal form: European Company (SE)
Share capital: EUR 376,422,400.00
Registered
on: 19.05.2009
Reg. data: 80333 München, HRB 179426
Further functions/participations of Dr. Peter Park (Member of the
Board of Directors)
Proxy:
Roland Holding GmbH
Theresienstr. 6-8
D 80333 München
Legal form: Private limited company
Share capital: EUR 3,066,500.00
Registered
on: 12.09.2005
Reg. data: 80333 München, HRB 158767
COMPANY
HISTORY
Company name and legal form
28.08.2006 - 19.03.2010 MAN Diesel SE
Stadtbachstr. 1
D 86153 Augsburg
European Company (SE)
01.03.1989 - 28.08.2006 MAN B & W Diesel Aktiengesellschaft (AG
Augsburg HRB 52)
Stadtbachstr. 1
D 86153 Augsburg
Public limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
29.03.2016 - 17.07.2017 President of the Supervisory Board
Dr.-Ing. Georg Pachta-Reyhofen
D 82343 Pöcking
29.03.2016 - 17.07.2017 Member of the Supervisory Board
Ulrich Baretzky
D 74072 Heilbronn
11.05.2011 - 07.07.2016 Member of the Board of Directors
Dr.-Ing. Hans-Otto Jeske
D 46485 Wesel
07.04.2015 - 02.12.2015 Member of the Supervisory Board
Jörg Astalosch
D 38440 Wolfsburg
21.05.2013 - 02.12.2015 Member of the Supervisory Board
Ulf Berkenhagen
D 38440 Wolfsburg
21.05.2013 - 02.12.2015 Member of the Supervisory Board
Jochen Schumm
D 38179 Schwülper
21.05.2013 - 07.04.2015 Member of the Supervisory Board
Gerhard Kreutzer
D 46145 Oberhausen
BUSINESS
ACTIVITIES
Main industrial sector
27110 Manufacture of electric motors, generators and transformators
28110 Manufacture of engines and turbines (except aircraft, vehicle and cycle engines)
28290 Manufacture of other general-purpose machinery
46141 Agents involved in the sale of machines (except agricultural machinery and office machinery) and industrial supplies n.e.c.
BRANCHES
AND FACTORIES
Branch:
MAN Diesel & Turbo SE
Egellsstr. 21
D 13507 Berlin
TEL.: 030/4404020
FAX.: 0208/440402-2000
Branch:
MAN Diesel & Turbo SE
Roßweg 6
D 20457 Hamburg
TEL.: 040/74090
FAX.: 040/7409104
Branch:
MAN Diesel & Turbo SE
Steinbrinkstr. 1
D 46145 Oberhausen
TEL.: 0208/692-01
FAX.: 0208/669021
Branch:
MAN Diesel & Turbo SE
Vogelweiherstr. 33
D 90441 Nürnberg
TEL.: 0911/420-6239
FAX.: 0911/420-1939
Branch:
MAN Diesel & Turbo SE
Werftstr. 17
D 94469 Deggendorf
TEL.: 0991/381-0
FAX.: 0991/3815218
Branch:
MAN Diesel & Turbo SE
Escher-Wyss-Str. 25
D 88212 Ravensburg
Branch:
MAN Diesel & Turbo SE
Hermann-Blohm-Str. 5
D 20457 Hamburg
TEL.: 040/370820
FAX.: 040/37082-1990
PARTICIPATIONS
Shareholder:
MTC Marine Training Center Hamburg GmbH
Schnackenburgallee 149
D 22525 Hamburg
Legal form: Private limited company
Company Status: active
Share capital: EUR 3,020,000.00
Share: EUR 750,000.00
Reg. data: 30.10.2007
Local court 20355 Hamburg
HRB 102881
Shareholder:
tcu Turbo Charger GmbH
Stadtbachstr. 1
D 86153 Augsburg
Legal form: Private limited company
Company Status: active
Share capital: EUR 60,000.00
Share: EUR 60,000.00
Reg. data: 24.06.1988
Local court 86150 Augsburg
HRB 10154
Member:
ULEME EWIV
Stadtbachstr. 1
D 86153 Augsburg
Legal form: European community of Economic
interests
Company Status: active
Reg. data: 17.07.2003
Local court 86150 Augsburg
HRA 14605
FINANCIAL
INFORMATION
Payment experience: Regular
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: unknown
Address Stadtbachstr. 1
D 86153 Augsburg
Land register documents were not available.
BANKERS
COMMERZBANK, 86150 AUGSBURG
Sort. code: 72040046, Account no.: 121645600
BIC: COBADEFFXXX, IBAN: DE91720400460121645600
COMMERZBANK, 46003 OBERHAUSEN
Sort. code: 36540046, Account no.: 380087700
BIC: COBADEFFXXX, IBAN: DE81365400460380087700
DEUTSCHE BANK, 46003 OBERHAUSEN
Sort. code: 36570049, Account no.: 415872100
BIC: DEUTDEDE365, IBAN: DE46365700490415872100
DEUTSCHE BANK, 86004 AUGSBURG
Sort. code: 72070001, Account no.: 015924400
BIC: DEUTDEMM720, IBAN: DE93720700010015924400
FINANCIAL
FIGURES
Turnover: 2016 EUR 2,456,385,000.00
Profit: 2016 EUR -124,666,000.00
Ac/ts
receivable:
EUR 636,114,000.00
Liabilities: EUR 710,760,000.00
The number of employees is not known.
Control and profit transfer agreement to:
MAN SE
Dachauer Str. 641
D 80995 München
Post Box:
40 13 47, D 80713 München
BALANCE
SHEETS
Balance sheet ratios
01.01.2016 - 31.12.2016
Equity ratio
[%]: 26.00
Liquidity
ratio: 0.61
Return on total
capital [%]: -7.88
Balance sheet ratios
01.01.2015 - 31.12.2015
Equity ratio
[%]: 33.12
Liquidity
ratio: 0.45
Return on total
capital [%]: 16.03
Balance sheet ratios
01.01.2014 - 31.12.2014
Equity ratio
[%]: 35.02
Liquidity
ratio: 1.37
Return on total
capital [%]: 8.61
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: 01.01.2016 - 31.12.2016
ASSETS EUR 1,794,611,000.00
Fixed assets EUR 514,621,000.00
Intangible assets EUR 3,084,000.00
Tangible assets EUR 339,200,000.00
Financial assets EUR 172,337,000.00
Current assets EUR 1,278,034,000.00
Stocks EUR 633,587,000.00
Other / unspecified stocks EUR 1,358,351,000.00
Minus received advance payments for
orders / installments for stocks EUR
-724,764,000.00
Accounts receivable EUR 636,114,000.00
Trade debtors EUR 280,161,000.00
Amounts due from related companies EUR
330,940,000.00
Other debtors and assets EUR 25,013,000.00
Liquid means EUR 8,333,000.00
Remaining other assets EUR 1,955,000.00
Accruals (assets) EUR 1,955,000.00
Difference assets / liabilities EUR 1,000.00
LIABILITIES EUR 1,794,611,000.00
Shareholders' equity EUR 613,347,000.00
Capital EUR 100,000,000.00
Subscribed capital (share capital) EUR
100,000,000.00
Reserves EUR 513,347,000.00
Capital reserves EUR 138,801,000.00
Retained earnings / revenue reserves
EUR 374,546,000.00
Provisions EUR 470,504,000.00
Pension provisions and comparable
provisions EUR 15,608,000.00
Other / unspecified provisions EUR 454,896,000.00
Liabilities EUR 710,760,000.00
Other liabilities EUR 710,760,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 467,562,000.00
Liabililties due to related
companiesEUR 96,724,000.00
Unspecified other liabilities EUR 146,474,000.00
PROFIT AND LOSS
ACCOUNT (cost of sales method) according to Comm.
Code (HGB)
Sales EUR 2,456,385,000.00
Manufacturing costs EUR 1,856,764,000.00
Gross result on sales EUR 599,621,000.00
Distribution costs EUR 235,942,000.00
General administration expenses EUR 109,102,000.00
Other operating income EUR 38,386,000.00
Other operating expenses EUR 480,160,000.00
Operating result from continuing
operations EUR -187,197,000.00
Result from participating interests
(+/-) EUR 81,341,000.00
Expenses / income from participations
EUR 81,341,000.00
Income from related companies EUR 81,341,000.00
Interest result (+/-) EUR -4,605,000.00
Interest and similar income EUR 1,989,000.00
Interest and similar expenses EUR 6,594,000.00
Other financial result EUR -107,000.00
Depreciation on financial assets and
marketable securities EUR 107,000.00
Financial result (+/-) EUR 76,629,000.00
Result from ordinary operations (+/-) EUR
-110,568,000.00
Income tax / refund of income tax
(+/-)EUR -12,007,000.00
Other taxes / refund of taxes EUR -2,091,000.00
Tax (+/-) EUR
-14,098,000.00
Annual surplus / annual deficit EUR -124,666,000.00
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 1,574,336,000.00
Fixed assets EUR 481,700,000.00
Intangible assets EUR 6,300,000.00
Tangible assets EUR 306,126,000.00
Financial assets EUR 169,274,000.00
Current assets EUR 1,091,153,000.00
Stocks EUR 506,045,000.00
Other / unspecified stocks EUR 1,525,514,000.00
Minus received advance payments for
orders / installments for stocks EUR
-1,019,469,000.00
Accounts receivable EUR 578,220,000.00
Trade debtors EUR 293,502,000.00
Amounts due from related companies EUR
262,181,000.00
Other debtors and assets EUR 22,537,000.00
Liquid means EUR 6,888,000.00
Remaining other assets EUR 1,483,000.00
Accruals (assets) EUR 1,483,000.00
LIABILITIES EUR 1,574,336,000.00
Shareholders' equity EUR 613,347,000.00
Capital EUR 100,000,000.00
Subscribed capital (share capital) EUR
100,000,000.00
Reserves EUR 513,347,000.00
Capital reserves EUR 138,801,000.00
Retained earnings / revenue reserves
EUR 374,546,000.00
Provisions EUR 328,269,000.00
Pension provisions and comparable
provisions EUR 29,736,000.00
Provisions for taxes EUR 6,629,000.00
Other / unspecified provisions EUR 291,904,000.00
Liabilities EUR 632,721,000.00
Other liabilities EUR 632,721,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 473,793,000.00
Liabililties due to related
companiesEUR 53,433,000.00
Unspecified other liabilities EUR 105,495,000.00
Difference assets / liabilities EUR -1,000.00
Guarantees and other commitments EUR 218,387,000.00
Guarantees / warranties EUR 218,387,000.00
Guarantees EUR 218,387,000.00
PROFIT AND LOSS
ACCOUNT (cost of sales method) according to Comm.
Code (HGB)
Sales EUR 2,385,716,000.00
Manufacturing costs EUR 1,883,160,000.00
Gross result on sales EUR 502,556,000.00
Distribution costs EUR 233,724,000.00
General administration expenses EUR 111,559,000.00
Other operating income EUR 181,532,000.00
Other operating expenses EUR 234,426,000.00
Operating result from continuing
operations EUR 104,379,000.00
Result from participating interests
(+/-) EUR 88,786,000.00
Expenses / income from participations
EUR 88,786,000.00
Income from related companies EUR 88,786,000.00
Interest result (+/-) EUR -10,013,000.00
Interest and similar income EUR 148,000.00
Interest and similar expenses EUR 10,161,000.00
Financial result (+/-) EUR 78,773,000.00
Result from ordinary operations (+/-) EUR
183,152,000.00
Expenses for transfer of profits to a
parent company EUR 193,596,000.00
Income tax / refund of income tax
(+/-)EUR 10,444,000.00
Tax (+/-) EUR 10,444,000.00
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
|
EUR |
1 |
INR 80.39 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.