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MIRA INFORM REPORT
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Report No. : |
492389 |
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Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SMW-AUTOBLOK SPANNSYSTEME GMBH |
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Registered Office : |
Wiesentalstr. 28, D 88074 Meckenbeuren, Post Box: 11 51, D 88074 Meckenbeuren |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
25.11.1993 |
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Com. Reg. No.: |
HRB 631242 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Manufacture of tools ·
Manufacture of other general-purpose machinery |
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No. of Employees : |
227 |
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
|
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 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, bolstered by low energy prices and a weak
euro, and exports are likely to drive German GDP growth again in 2018.
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Source
: CIA |
Company
name & address
SMW-AUTOBLOK SPANNSYSTEME GMBH
Company Status: active
Wiesentalstr. 28
D 88074 Meckenbeuren
Post Box:
11 51, D 88074 Meckenbeuren
Telephone:07542/4050
Telefax: 07542/405171
Homepage: www.smw-autoblok.de
E-mail: info@smw-autoblok.de
VAT no.: DE811555600
Tax ID number: 61021/06913
LEGAL FORM Private Limited
Company
Date of foundation: 1993
Shareholders'
agreement: 22.11.1993
Registered on: 25.11.1993
Commercial Register: Local court 89073 Ulm
under: HRB 631242
Share capital:
EUR 4,000,000.00
Shareholder:
Autoblok
S.p.A.
Via duca
d'aosta 24
I 10040
Caprie Novaretto (TO)
Legal form:
Other legal form
Share: EUR 2,000,000.00
Shareholder:
Walter
Bronzino
Via Kruscev 5
I 10040
Caprie Novaretto (TO)
born:
08.11.1947
Share: EUR 1,000,000.00
Shareholder:
Pier Mauro
Bronzino
Via Kruscev 5
I 10040
Caprie Novaretto (TO)
born:
09.05.1941
Share: EUR 1,000,000.00
Manager:
Walter Bronzino
Via Kruscev 5
I 10040
Caprie Novaretto (TO)
having sole
power of representation
born:
08.11.1947
Nationality:
Italian
Manager:
Eckhard
Maurer
Albert-Schweitzer-Weg 3
D 88094
Oberteuringen
having sole
power of representation
born:
24.08.1959
Marital status:
married
Proxy:
Michael Rehm
Wolfsgrube 12
D 88069
Tettnang
having sole
power of representation
born:
11.09.1959
Further functions/participations of Walter Bronzino (Manager)
Shareholder:
Lorelei
Grundstücksgesellschaft mbH
Wiesentalstr.
28
D 88074
Meckenbeuren
Legal form:
Private limited company
Share
capital: EUR 511,291.88
Share: EUR 51,129.19
Registered
on: 07.10.1994
Reg.
data: 89073 Ulm, HRB 631316
Manager:
Lorelei Grundstücksgesellschaft
mbH
Wiesentalstr.
28
D 88074
Meckenbeuren
Legal form:
Private limited company
Share
capital: EUR 511,291.88
Registered
on: 07.10.1994
Reg.
data: 89073 Ulm, HRB 631316
BUSINESS
ACTIVITIES
Main industrial sector
2573 Manufacture of tools
28290 Manufacture of other
general-purpose machinery
FINANCIAL
INFORMATION
Payment experience: Regular
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: Tenant
Address Wiesentalstr.
28
D 88074
Meckenbeuren
Land register documents were not available.
BANKERS
Principal bank
GENOSSENSCHAFTSBANK MECKENBEUREN, 88074 MECKENBEUREN
Sort. code: 65161497, Account no.: 51211009
BIC: GENODES1GMB, IBAN: DE95651614970051211009
Further banks
SÜDWESTBANK, 88192 RAVENSBURG
Sort. code: 60090700, Account no.: 730511006
BIC: SWBSDESSXXX, IBAN: DE62600907000730511006
INTESA SANPAOLO, 80335 MÜNCHEN
Sort. code: 70020800, Account no.: 4007493500
BIC: BCITDEFFMUC, IBAN: DE04700208004007493500
COMMERZBANK VORMALS DRESDNER BANK, 88003 FRIEDRICHSHAFEN
Sort. code: 65180005, Account no.: 104344400
BIC: DRESDEFF651, IBAN: DE34651800050104344400
FINANCIAL
FIGURES
Equipment: EUR 677,200.00
Ac/ts
receivable: EUR 7,392,233.00
Liabilities: EUR 4,130,150.00
Employees:
227
-
thereof permanent staff: 216
-
Trainees: 11
BALANCE
SHEETS
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]:
91.29
Liquidity ratio:
10.00
Return on total capital [%]:
17.13
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]:
83.92
Liquidity ratio:
10.00
Return on total capital [%]:
20.24
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: 01.01.2015 - 31.12.2015
ASSETS EUR 61,117,392.31
Fixed assets EUR 18,066,695.39
Intangible assets EUR 105,347.06
Concessions, licences, rights EUR 105,346.06
Goodwill EUR 1.00
Tangible assets EUR 5,129,352.31
Land / similar rights EUR 228,506.00
Plant / machinery EUR 4,223,646.21
Other tangible assets / fixtures and
fittings EUR 677,200.10
Financial assets EUR 12,831,996.02
Shares in participations /
subsidiaries and the like EUR 8,895.44
Shares in related companies EUR 8,115.44
Shares in cooperatives EUR 780.00
Securities included in fixed assets EUR
12,823,100.58
Current assets EUR 42,985,704.14
Stocks EUR 17,963,110.76
Raw materials, consumables and
supplies EUR 1,851,742.76
Finished goods / work in progress EUR
16,111,368.00
Accounts receivable EUR 7,392,232.86
Trade debtors EUR 7,266,198.67
Other debtors and assets EUR 126,034.19
Liquid means EUR 17,630,360.52
Remaining other assets EUR 64,992.78
Accruals (assets) EUR 64,992.78
LIABILITIES EUR 61,117,392.31
Shareholders' equity EUR 53,862,087.30
Capital EUR 4,000,000.00
Subscribed capital (share capital) EUR
4,000,000.00
Reserves EUR 39,473,494.85
Retained earnings / revenue reserves
EUR 39,473,494.85
Balance sheet profit/loss (+/-) EUR 10,388,592.45
Annual surplus / annual deficit EUR 10,388,592.45
Provisions EUR 3,125,154.94
Other / unspecified provisions EUR 3,125,154.94
Liabilities EUR 4,130,150.07
Financial debts EUR 613,550.26
Loans / obligations / debentures EUR 613,550.26
Other liabilities EUR 3,516,599.81
Trade creditors (for IAS incl. bills
of exchange) EUR 2,879,090.28
Liabilities from received advance
payments EUR 94,369.12
Liabililties due to related
companiesEUR 199,912.91
Unspecified other liabilities EUR 343,227.50
thereof liabilities from tax /
financial authorities EUR 285,201.02
thereof liabilities from social
security EUR 24,414.90
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 58,890,261.55
Inventory change + own costs (+/-) EUR 1,021,136.00
Inventory change (+/-) EUR 1,021,136.00
Other operating income EUR 844,552.18
Cost of materials EUR 21,841,256.36
Raw materials and supplies, purchased
goods EUR 21,151,479.74
Purchased services EUR 689,776.62
Gross result (+/-) EUR 38,914,693.37
Staff expenses EUR 16,062,652.37
Wages and salaries EUR 13,682,002.45
Social security contributions and
expenses for pension plans and
benefits EUR 2,380,649.92
Total depreciation EUR 1,317,794.89
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,317,794.89
Other operating expenses EUR
6,943,289.69
Operating result from continuing
operations EUR 14,590,956.42
Interest result (+/-) EUR 20,925.22
Interest and similar income EUR 42,399.48
Interest and similar expenses EUR 21,474.26
Financial result (+/-) EUR 20,925.22
Result from ordinary operations (+/-) EUR
14,611,881.64
Income tax / refund of income tax
(+/-)EUR -4,215,766.34
Other taxes / refund of taxes EUR -7,522.85
Tax (+/-) EUR -4,223,289.19
Annual surplus / annual deficit EUR 10,388,592.45
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 61,286,295.36
Fixed assets EUR 17,383,396.85
Intangible assets EUR 74,264.06
Concessions, licences, rights EUR 74,263.06
Goodwill EUR 1.00
Tangible assets EUR 4,500,237.35
Land / similar rights EUR 248,626.00
Plant / machinery EUR 2,852,793.25
Other tangible assets / fixtures and
fittings EUR 700,818.10
Advance payments made / construction
in progress EUR 698,000.00
Financial assets EUR 12,808,895.44
Shares in participations /
subsidiaries and the like EUR 8,895.44
Shares in related companies EUR 8,115.44
Shares in cooperatives EUR 780.00
Securities included in fixed assets EUR
12,800,000.00
Current assets EUR 43,851,650.76
Stocks EUR 16,461,709.62
Raw materials, consumables and
supplies EUR 1,676,841.62
Finished goods / work in progress EUR
14,784,868.00
Accounts receivable EUR 9,476,683.23
Trade debtors EUR 9,322,812.21
Other debtors and assets EUR 153,871.02
Liquid means EUR 17,913,257.91
Remaining other assets EUR 51,247.75
Accruals (assets) EUR 51,247.75
LIABILITIES EUR 61,286,295.36
Shareholders' equity EUR 51,473,494.85
Capital EUR 4,000,000.00
Subscribed capital (share capital) EUR
4,000,000.00
Reserves EUR 35,122,840.71
Retained earnings / revenue reserves
EUR 35,122,840.71
Balance sheet profit/loss (+/-) EUR 12,350,654.14
Annual surplus / annual deficit EUR 12,350,654.14
Provisions EUR 4,377,981.61
Provisions for taxes EUR 653,993.23
Other / unspecified provisions EUR 3,723,988.38
Liabilities EUR 5,434,818.90
Financial debts EUR 613,550.26
Loans / obligations / debentures EUR 613,550.26
Other liabilities EUR 4,821,268.64
Trade creditors (for IAS incl. bills
of exchange) EUR 3,671,825.37
Liabilities from received advance
payments EUR 132,048.17
Liabililties due to related
companiesEUR 123,741.14
Unspecified other liabilities EUR 893,653.96
thereof liabilities from tax /
financial authorities EUR 795,194.34
thereof liabilities from social
security EUR 15,343.08
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 62,358,285.33
Inventory change + own costs (+/-) EUR 417,101.00
Inventory change (+/-) EUR 417,101.00
Other operating income EUR 176,310.74
Cost of materials EUR 22,503,556.47
Raw materials and supplies, purchased
goods EUR 21,891,493.76
Purchased services EUR 612,062.71
Gross result (+/-) EUR 40,448,140.60
Staff expenses EUR 15,459,882.53
Wages and salaries EUR 13,183,597.23
Social security contributions and
expenses for pension plans and
benefits EUR 2,276,285.30
Total depreciation EUR 1,176,544.42
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,176,544.42
Other operating expenses EUR 6,639,327.39
Operating result from continuing
operations EUR 17,172,386.26
Interest result (+/-) EUR 198,057.75
Interest and similar income EUR 219,532.01
Interest and similar expenses EUR 21,474.26
Financial result (+/-) EUR 198,057.75
Result from ordinary operations (+/-) EUR
17,370,444.01
Income tax / refund of income tax
(+/-)EUR -5,011,706.69
Other taxes / refund of taxes EUR -8,083.18
Tax (+/-) EUR -5,019,789.87
Annual surplus / annual deficit EUR 12,350,654.14
Inconsistent
balance sheets:
Financial
year
published on
01.01.2013
- 31.12.2013
05.03.2015
01.01.2012
- 31.12.2012
13.03.2014
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 63.90 |
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|
1 |
INR 90.31 |
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Euro |
1 |
INR 80.17 |
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EUR |
1 |
INR 80.17 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
TPT |
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 |
|
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 |
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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.