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MIRA
INFORM REPORT
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Report No. : |
506235 |
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Report Date : |
26.04.2018 |
IDENTIFICATION DETAILS
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Name : |
SPINDELFABRIK SUESSEN
GMBH |
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Registered Office : |
Donzdorfer Str. 4 D 73079
Süßen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
1920 |
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Com. Reg. No.: |
HRB 540114 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Manufacture of machinery for
textile, apparel and leather production
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No. of Employees : |
228 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 and address
Spindelfabrik Suessen GmbH
Donzdorfer Str. 4
D 73079 Süßen
Telephone:07162/15-0
Telefax: 07162/15-367
Homepage: www.suessen.com
E-mail: mail@suessen.com
Company
Status
Active
VAT no.
DE145457987
CONCLUSION
Business relations are permissible.
Company
sumemry
LEGAL FORM Private
limited company
Date of foundation: 1920
Shareholders'
agreement: 07.12.1920
Registered on: 15.03.1921
Commercial Register: Local court 89073 Ulm
under: HRB
540114
Share capital: EUR 5,050,100.00
Shareholder:
Rieter Deutschland GmbH
& Co. OHG
Friedrich-Ebert-Str. 84
D 85055 Ingolstadt
Legal form: General
partnership with private
limited company as partner
Share: EUR 5,050,100.00
Registered on: 06.04.1988
Reg. data: 85049
Ingolstadt, HRA 940
Manager:
Peter Wilhelm Stahlecker
D 73054 Eislingen
born: 23.06.1955
Profession: Engineer
Marital status: married
Manager:
Roger Albrecht
CH Winterthur
authorized to jointly
represent the company
born: 26.05.1982
Nationality: Swiss
Manager:
Serge Entleitner
A Koblach
born: 12.09.1964
Nationality: Austrian
Proxy:
Anita Wolf
D 73102 Birenbach
authorized to jointly
represent the company
born: 07.01.1957
Proxy:
Wolfgang Herbert Siegfried
Lehner
D 73054 Eislingen
authorized to jointly
represent the company
born: 01.10.1964
Proxy:
Erich Frank
D 73079 Süßen
authorized to jointly
represent the company
born: 08.02.1954
Marital status: unknown
Proxy:
Achim Licht
D 73079 Süßen
authorized to jointly represent
the company
born: 05.03.1965
Marital status: unknown
Proxy:
Ioannis Spiridopulos
D 73079 Süßen
authorized to jointly
represent the company
born: 30.03.1964
Marital status: unknown
COMPANY
HISTORY
company name and legal form
24.08.2004 - 30.09.2008 Spindelfabrik Süssen, Schurr, Stahlecker
& Grill GmbH
Dammstr. 1
D 73079 Süßen
Private limited
company
RESIGNED
ACTING PERSONS AND SHAREHOLDERS
14.07.2016 - 31.05.2017 Manager
José Geraldes
D 70794 Filderstadt
22.03.2013 - 15.06.2016 Manager
Roland Eberhardt
Forchenweg 2
D 71272 Renningen
BUSINESS
ACTIVITIES
Main industrial sector
28940 Manufacture of machinery for textile,
apparel and leather production
46693 Wholesale of other equipment and accessories
for machinery and technical supplies
BRANCHES
AND FACTORIES
Works:
Spindelfabrik Suessen GmbH
Donzdorfer Str. 65
D 73079 Süßen
TEL.: 07162/15-0
FINANCIAL INFORMATION
Payment experience: No Complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: proprietor
Share: 100.00 %
Address Donzdorfer
Str. 4
D 73079 Süßen
Type of ownership: proprietor
Share: 100.00 %
Address Donzdorfer
Str. 65
D 73079 Süßen
Land register documents were not available.
BANKERS
Principal bank
COMMERZBANK, 73002 GÖPPINGEN
Sort. code: 61040014
BIC: COBADEFFXXX
Further banks
DEUTSCHE BANK, 73003 GÖPPINGEN
Sort. code: 61070078
BIC: DEUTDESS610
KREISSPARKASSE GÖPPINGEN, 73007 GÖPPINGEN
Sort. code: 61050000
BIC: GOPSDE6GXXX
POSTBANK, 70148 STUTTGART
Sort. code: 60010070
BIC: PBNKDEFFXXX
FINANCIAL FIGURES
Turnover: 2016 EUR 92,386,853.00
2017 EUR 70,000,000.00
Profit: 2016 EUR 4,176,155.00
further business figures:
Equipment: EUR 8,522,805.00
Ac/ts receivable: EUR 13,616,963.00
Liabilities: EUR 7,286,831.00
Total numbers of
vehicles:
8
- Lorries: 1
- Passenger cars:
7
Employees:
228
- Part-time employees: 21
- Trainees: 19
BALANCE SHEETS
Balance sheet
ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 39.60
Liquidity ratio: 1.43
Return on total capital [%]: 13.96
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 30.36
Liquidity ratio: 0.92
Return on total capital [%]: 18.96
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 39.79
Liquidity ratio: 1.18
Return on total capital [%]: 18.82
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 66.66
Liquidity ratio: 1.43
Return on total capital [%]: 13.24
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: 01.01.2016 - 31.12.2016
ASSETS EUR 36,015,218.51
Fixed assets EUR 9,299,999.99
Intangible assets EUR 6,712.00
Concessions, licences, rights EUR 6,712.00
Tangible assets EUR 9,293,268.96
Land / similar rights EUR 770,463.57
Plant / machinery EUR 4,103,934.00
Other tangible assets / fixtures and
fittings EUR 3,772,825.00
Advance payments made / construction
in progress EUR 646,046.39
Financial assets EUR 19.03
Shares in participations /
subsidiaries and the like EUR 19.03
Shares in related companies EUR 18.03
Shares in investee companies EUR
1.00
Current assets EUR 26,707,571.20
Stocks EUR 11,072,452.99
Raw materials, consumables and
supplies EUR 6,127,245.49
Finished goods / work in progress EUR
4,945,207.50
Accounts receivable EUR 13,616,962.73
Trade debtors EUR 5,340,837.54
Amounts due from related companies EUR
7,510,729.11
Amounts due from investee companies EUR
104,158.32
Other debtors and assets EUR 661,237.76
Liquid means EUR 2,018,155.48
Remaining other assets EUR 7,647.32
Accruals (assets) EUR 7,647.32
LIABILITIES EUR 36,015,218.51
Shareholders' equity EUR 17,947,895.31
Capital EUR 5,050,100.00
Subscribed capital (share capital) EUR
5,050,100.00
Reserves EUR 8,183,487.92
Capital reserves EUR 8,183,487.92
Balance sheet profit/loss (+/-) EUR 4,714,307.39
Profit / loss brought forward EUR 538,151.98
Annual surplus / annual deficit EUR 4,176,155.41
Provisions EUR 10,765,680.20
Pension provisions and comparable
provisions EUR 5,554,336.00
Provisions for taxes EUR 117,290.00
Other / unspecified provisions EUR 5,094,054.20
Liabilities EUR 7,286,831.11
Other liabilities EUR 7,286,831.11
Trade creditors (for IAS incl. bills
of exchange) EUR 1,598,269.88
Liabilities from received advance
payments EUR 1,316,636.90
Liabililties due to related
companiesEUR 1,343,380.77
Unspecified other liabilities EUR 3,028,543.56
thereof liabilities from tax /
financial authorities EUR 185,306.43
Other liabilities EUR 14,811.89
Deferrals (liabilities) EUR 14,811.89
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 92,386,853.21
Inventory change + own costs (+/-) EUR -915,121.89
Inventory change (+/-) EUR -979,733.01
Capitalised own costs EUR 64,611.12
Other operating income EUR 205,483.21
Cost of materials EUR 47,990,756.98
Raw materials and supplies, purchased
goods EUR 38,414,225.53
Purchased services EUR 9,576,531.45
Gross result (+/-) EUR 43,686,457.55
Staff expenses EUR 16,600,118.56
Wages and salaries EUR 13,915,063.70
Social security contributions and
expenses for pension plans and
benefits EUR 2,685,054.86
Total depreciation EUR 1,812,547.64
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,812,547.64
Other operating expenses EUR 20,442,242.87
Operating result from continuing
operations EUR 4,831,548.48
Interest result (+/-) EUR -223,248.00
Interest and similar income EUR 3,823.00
Interest and similar expenses EUR 227,071.00
Financial result (+/-) EUR -223,248.00
Result from ordinary operations (+/-) EUR
4,608,300.48
Income tax / refund of income tax
(+/-)EUR -386,818.47
Other taxes / refund of taxes EUR -45,326.60
Tax (+/-) EUR -432,145.07
Annual surplus / annual deficit EUR 4,176,155.41
Type of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2015 - 31.12.2015
ASSETS EUR 44,822,918.86
Fixed assets EUR 8,674,075.74
Intangible assets EUR 6,859.00
Concessions, licences, rights EUR 6,859.00
Tangible assets EUR 8,667,197.71
Land / similar rights EUR 734,032.57
Plant / machinery EUR 4,353,453.00
Other tangible assets / fixtures and
fittings EUR 3,180,148.53
Advance payments made / construction
in progress EUR 399,563.61
Financial assets EUR 19.03
Shares in participations /
subsidiaries and the like EUR 19.03
Shares in related companies EUR 18.03
Shares in investee companies EUR 1.00
Current assets EUR 36,133,289.95
Stocks EUR 12,005,096.69
Raw materials, consumables and
supplies EUR 6,080,156.18
Finished goods / work in progress EUR
5,924,940.51
Accounts receivable EUR 23,278,551.81
Trade debtors EUR 5,384,410.57
Amounts due from related companies EUR
16,555,710.17
Amounts due from investee companies EUR
322,543.89
Other debtors and assets EUR 1,015,887.18
Liquid means EUR 849,641.45
Remaining other assets EUR 15,553.17
Accruals (assets) EUR 15,553.17
LIABILITIES EUR 44,822,918.86
Shareholders' equity EUR 23,771,739.90
Capital EUR 5,050,100.00
Subscribed capital (share capital) EUR
5,050,100.00
Reserves EUR 8,183,487.92
Capital reserves EUR 8,183,487.92
Balance sheet profit/loss (+/-) EUR 10,538,151.98
Profit / loss brought forward EUR 4,806,894.04
Annual surplus / annual deficit EUR 5,731,257.94
Provisions EUR 10,795,478.45
Pension provisions and comparable
provisions EUR 5,740,319.00
Provisions for taxes EUR 117,290.00
Other / unspecified provisions EUR 4,937,869.45
Liabilities EUR
10,255,700.51
Other liabilities EUR 10,255,700.51
Trade creditors (for IAS incl. bills
of exchange) EUR 3,970,188.17
Liabilities from received advance
payments
EUR 2,296,351.37
Liabililties due to related
companiesEUR 1,657,191.89
Unspecified other liabilities EUR 2,331,969.08
thereof liabilities from tax /
financial authorities EUR 166,021.64
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 89,339,436.92
Inventory change + own costs (+/-) EUR -192,017.27
Inventory change (+/-) EUR -264,973.65
Capitalised own costs EUR 72,956.38
Other operating income EUR 1,073,069.06
Cost of materials EUR 46,212,370.57
Raw materials and supplies, purchased
goods EUR 35,807,541.14
Purchased services EUR 10,404,829.43
Gross result (+/-) EUR 44,008,118.14
Staff expenses EUR 16,224,516.41
Wages and salaries EUR 13,293,936.62
Social security contributions and
expenses for pension plans and
benefits EUR 2,930,579.79
Total depreciation EUR 1,780,662.51
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,780,662.51
Other operating expenses EUR
19,303,477.98
Operating result from continuing
operations EUR 6,699,461.24
Interest result (+/-) EUR -289,920.34
Interest and similar income EUR 9,209.46
Interest and similar expenses EUR 299,129.80
Financial result (+/-) EUR -289,920.34
Result from ordinary operations (+/-) EUR
6,409,540.90
Income tax / refund of income tax
(+/-)EUR -632,878.27
Other taxes / refund of taxes EUR -45,404.69
Tax (+/-) EUR -678,282.96
Annual surplus / annual deficit EUR 5,731,257.94
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.70 |
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|
1 |
INR 93.14 |
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Euro |
1 |
INR 81.43 |
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Euro |
1 |
INR 81.40 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.