MIRA INFORM REPORT

 

 

Report No. :

493211

Report Date :

23.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

KLINGELNBERG GMBH

 

 

Registered Office :

Peterstr. 45, D 42499 Hückeswagen

 

 

Country :

Germany

 

 

Financials (as on) :

31.03.2016

 

 

Date of Incorporation :

26.06.1996

 

 

Com. Reg. No.:

HRB 37950

 

 

Legal Form :

Private limited company

 

 

Line of Business :

·         Wholesale of machine tools

·         Activities of head offices

 

 

No. of Employees :

882

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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 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 2016 Germany reached a budget surplus of 0.6%. 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 2017.

 

Source : CIA

 

note

 

The subject of your inquiry is a branch. We are reporting on the headquarters.

 

 

Company name and address

 

KLINGELNBERG GMBH.

 

Company Status:          Active

                                    Peterstr. 45

                                    D 42499 Hückeswagen

Telephone:                    02192/810

Telefax:                        02192/81200

Homepage:                   www.klingelnberg.com

E-mail:                          info@klingelnberg.com

VAT no.:                       DE184637081

Tax ID number:              221/5749/0125

 

 

Company summary

 

Legal Form                   Private limited company

Date of foundation:       26.06.1996

Shareholders'

agreement:                    26.06.1996

Registered on:              30.08.1996

Commercial Register:    Local court 50939 Köln

under:                                       HRB 37950

 

 

Share capital          

           

EUR                             15,338,756.44

 

Shareholder:

                     Klingelnberg AG

                     CH 8005 Zürich

                     Legal form: Other legal form

                     Share:             EUR         15,338,756.44

Manager:

                     Martin Boelter

                     Mauerstr. 24

                     D 32791 Lage

                     born: 01.10.1961

                     Profession: graduate engineer

Manager:

                     Christoph Küster

                     D 40472 Ratingen

                     born: 31.10.1974

President of the Supervisory Board:

                     Jan Klingelnberg

                     Im Büler 2

                     CH 8704 Herrliberg

                     Nationality: Swiss

                     Marital status: unknown

Member of the Supervisory Board:

                     Philipp Kannengießer

                     D 61462 Königstein

                     born: 21.05.1973

Member of the Supervisory Board:

                     Rolf Fischer

                     Lindenbergstr. 57

                     D 42499 Hückeswagen

Proxy:

                     Ulrich Hoferichter

                     Löwenberger Str. 6

                     D 51645 Gummersbach

                     authorized to jointly represent the company

                     born: 25.09.1956

                     Profession: graduate engineer

                     Marital status: married

Proxy:

                     Hartmuth Müller

                     D 42899 Remscheid

                     authorized to jointly represent the company

                     born: 12.07.1959

                     Profession: Businessman

Proxy:

                     Eike Michael Prinz

                     D 42929 Wermelskirchen

                     authorized to jointly represent the company

                     born: 08.09.1961

                     Profession: Businessman

Proxy:

                     Harald Breuer

                     D 42653 Solingen

                     authorized to jointly represent the company

                     born: 08.06.1956

                     Profession: Businessman

Proxy:

                     Gerhard Mohr

                     D 42499 Hückeswagen

                     authorized to jointly represent the company

                     born: 10.08.1960

                     Profession: Businessman

Proxy:

                     Dr. Alexander Landvogt

                     D 76275 Ettlingen

                     authorized to jointly represent the company

                     born: 11.04.1968

                     Nationality: Swiss

Proxy:

                     Markus D. Schulte

                     Breikelchen 16

                     D 57462 Olpe

                     authorized to jointly represent the company

                     born: 19.01.1967

Proxy:

                     Dr. Christof Werner Gorgels

                     D 50667 Köln

                     authorized to jointly represent the company

                     born: 12.11.1976

Proxy:

                     Dr. Markus Brumm

                     D 50226 Frechen

                     authorized to jointly represent the company

                     born: 06.10.1979

Proxy:

                     Claudia Bodewig

                     D 50829 Köln

                     authorized to jointly represent the company

                     born: 18.07.1970

Proxy:

                     Dr. Tim Sadek

                     D 45468 Mülheim

                     authorized to jointly represent the company

                     born: 25.08.1979

Proxy:

                     Marzell Brodbeck

                     D 76137 Karlsruhe

                     authorized to jointly represent the company

                     born: 02.12.1956

Proxy:

                     Dirk Kükelhahn

                     F  Beinheim

                     authorized to jointly represent the company

                     born: 01.06.1957

                     Nationality: French

Proxy:

                     Martin Schweizer

                     D 76437 Rastatt

                     authorized to jointly represent the company

                     born: 16.07.1971

Proxy:

                     Dennis Weiche

                     D 76275 Ettlingen

                     authorized to jointly represent the company

                     born: 13.11.1983

Proxy:

                     Uwe Epler

                     D 51688 Wipperfürth

                     authorized to jointly represent the company

                     born: 02.10.1956

Proxy:

                     Dr. Niels Eichhorn

                     D 42499 Hückeswagen

                     authorized to jointly represent the company

                     born: 19.04.1980

 

 

COMPANY HISTORY

 

Company name and legal form

 

30.08.1996 - 13.11.2001  Klingelnberg Beteiligungs-GmbH

                         Peterstr. 45

                         D 42499 Hückeswagen

                         Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

25.04.2016 - 20.06.2016  Manager

                         Arkin Pariltan

                         D 51371 Leverkusen

23.11.2001 - 21.04.2016  Manager

                         Hartmuth Müller

                         D 42899 Remscheid

12.09.2007 - 04.05.2015  Manager

                         Tomas Kirschenfauth

                         D 50667 Köln

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

46620   Wholesale of machine tools

7010    Activities of head offices

 

 

BRANCHES AND FACTORIES

 

Branch:

                     Klingelnberg GmbH.

                     Im Stöck 2

                     D 76275 Ettlingen

                     TEL.: 07243/930-0

                     Reg. entry: 07.08.2012

Branch:

                     Klingelnberg GmbH.

                     Industriestr. 19

                     D 76275 Ettlingen

                     TEL.: 07243/5990

                     Reg. entry: 07.08.2012

 

 

PARTICIPATIONS

 

Shareholder:

                     CM-DIGIT Verwaltungs GmbH

                     Im Stöck 2

                     D 76275 Ettlingen

                     Legal form: Private limited company

                     Company Status: dissolved

                     since:          15.07.2009

                     Share capital:     EUR             25,564.59

                     Share:             EUR             25,564.59

                     Reg. data:  02.12.1998

                                 Local court 68159 Mannheim

                                 HRB 362170

 

 

FINANCIAL INFORMATION

 

Payment experience:     Regular

 

Negative information:    We have no negative information at hand.

 

Balance sheet year:       2015/2016

 

 

REAL ESTATE

 

Type of ownership:        proprietor

Share:                           100.00 %

Address                        Peterstr. 45

                                    D 42499 Hückeswagen

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

DEUTSCHE BANK, 42897 REMSCHEID

Sort. code: 34070093, Account no.: 5050000

BIC: DEUTDEDW340, IBAN: DE57340700930505000000

 

 

FINANCIAL FIGURES

 

Turnover:            2015/2016          EUR        172,892,857.00

Profit:              2015/2016          EUR          3,542,300.00

Equipment:                              EUR          4,737,077.00

Ac/ts receivable:                       EUR         32,119,131.00

Liabilities:                            EUR         50,856,314.00

Real estate of the firm:                EUR         21,369,554.00

Employees:                                                    882

- thereof permanent staff:                                    882

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.04.2015 - 31.03.2016

Equity ratio [%]:                 56.40

Liquidity ratio:                   1.05

Return on total capital [%]:       2.75

 

Balance sheet ratios 01.04.2014 - 31.03.2015

Equity ratio [%]:                 45.47

Liquidity ratio:                   0.73

Return on total capital [%]:      -3.42

 

Balance sheet ratios 01.04.2013 - 31.03.2014

Equity ratio [%]:                 52.59

Liquidity ratio:                   0.88

Return on total capital [%]:      -1.45

 

Balance sheet ratios 01.04.2012 - 31.03.2013

Equity ratio [%]:                 35.92

Liquidity ratio:                   0.62

Return on total capital [%]:      -7.47

 

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:                                 01.04.2015 - 31.03.2016

 

ASSETS                                  EUR        134,985,865.51

 Fixed assets                           EUR         44,701,976.43

  Intangible assets                     EUR         12,039,175.00

   Concessions, licences, rights        EUR          5,916,260.00

   Goodwill                             EUR          6,122,915.00

  Tangible assets                       EUR         32,545,928.05

   Land / similar rights                EUR         21,369,553.79

   Plant / machinery                    EUR          6,439,297.00

   Other tangible assets / fixtures and

   fittings                             EUR          4,737,077.26

  Financial assets                      EUR            116,873.38

   Shares in participations /

   subsidiaries and the like            EUR            109,204.00

    Shares in related companies         EUR            109,204.00

   Securities included in fixed assets  EUR              7,669.38

 Current assets                         EUR         89,749,479.70

  Stocks                                EUR         57,248,715.22

   Raw materials, consumables and

   supplies                             EUR         20,186,560.25

   Finished goods / work in progress    EUR         38,005,131.99

   Advance payments made                EUR             55,790.00

   Minus received advance payments for

   orders / installments for stocks     EUR           -998,767.02

  Accounts receivable                   EUR         32,119,130.76

   Trade debtors                        EUR         24,578,950.07

   Amounts due from related companies   EUR          6,957,063.87

   Other debtors and assets             EUR            583,116.82

  Liquid means                          EUR            381,633.72

 Remaining other assets                 EUR            534,409.38

  Accruals (assets)                     EUR            534,409.38

 

LIABILITIES                             EUR        134,985,865.51

 Shareholders' equity                   EUR         58,847,902.39

  Capital                               EUR         15,338,756.44

   Subscribed capital (share capital)   EUR         15,338,756.44

  Reserves                              EUR         35,135,502.57

   Capital reserves                     EUR         35,135,502.57

  Balance sheet profit/loss (+/-)       EUR          8,373,643.38

   Profit / loss brought forward        EUR          4,831,343.85

   Annual surplus / annual deficit      EUR          3,542,299.53

 Provisions                             EUR         25,281,649.35

  Pension provisions and comparable

  provisions                            EUR          8,498,703.00

  Other / unspecified provisions        EUR         16,782,946.35

 Liabilities                            EUR         50,856,313.77

  Financial debts                       EUR         16,402,805.32

   Liabilities due to banks             EUR         16,402,805.32

  Other liabilities                     EUR         34,453,508.45

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR         10,321,063.60

   Liabilities from received advance

   payments                             EUR          1,685,062.02

   Liabilities due to shareholders      EUR         19,958,133.60

   Liabililties due to related companiesEUR            824,763.65

   Unspecified other liabilities        EUR          1,664,485.58

 

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

Code (HGB)

 Sales                                  EUR        172,892,857.05

 Inventory change + own costs (+/-)     EUR          2,081,041.36

  Inventory change (+/-)                EUR            534,342.72

  Capitalised own costs                 EUR          1,546,698.64

 Other operating income                 EUR          5,911,409.87

 Cost of materials                      EUR         74,102,531.64

  Raw materials and supplies, purchased

  goods                                 EUR         64,756,146.55

  Purchased services                    EUR          9,346,385.09

 Gross result (+/-)                     EUR        106,782,776.64

 Staff expenses                         EUR         65,928,298.66

  Wages and salaries                    EUR         55,983,730.06

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          9,944,568.60

 Total depreciation                     EUR          5,985,395.17

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR          5,985,395.17

 Other operating expenses               EUR         29,030,757.88

 Operating result from continuing

 operations                             EUR          5,838,324.93

 Interest result (+/-)                  EUR         -2,137,175.77

  Interest and similar income           EUR             63,582.11

  Interest and similar expenses         EUR          2,200,757.88

 Financial result (+/-)                 EUR         -2,137,175.77

 Result from ordinary operations (+/-)  EUR          3,701,149.16

 Income tax / refund of income tax (+/-)EUR            -46,371.74

 Other taxes / refund of taxes          EUR           -112,477.89

 Tax (+/-)                              EUR           -158,849.63

 Annual surplus / annual deficit        EUR          3,542,299.53

 

Type of balance sheet:                          Company balance sheet

Origin of the present balance sheet:            electronic German Federal Gazette

Financial year:                                 01.04.2014 - 31.03.2015

 

ASSETS                                  EUR        136,971,763.55

 Fixed assets                           EUR         47,998,323.14

  Intangible assets                     EUR         13,320,560.00

   Concessions, licences, rights        EUR          6,657,387.00

   Goodwill                             EUR          6,663,173.00

  Tangible assets                       EUR         34,566,330.89

   Land / similar rights                EUR         23,348,998.78

   Plant / machinery                    EUR          6,322,836.14

   Other tangible assets / fixtures and

   fittings                             EUR          4,880,098.26

   Advance payments made / construction

   in progress                          EUR             14,397.71

  Financial assets                      EUR            111,432.25

   Shares in participations /

   subsidiaries and the like            EUR            103,762.87

    Shares in related companies         EUR            103,762.87

   Securities included in fixed assets  EUR              7,669.38

 Current assets                         EUR         88,929,016.17

  Stocks                                EUR         55,909,230.38

   Raw materials, consumables and

   supplies                             EUR         19,850,427.46

   Finished goods / work in progress    EUR         37,470,789.27

   Advance payments made                EUR             10,344.00

   Minus received advance payments for

   orders / installments for stocks     EUR         -1,422,330.35

  Accounts receivable                   EUR         32,957,842.74

   Trade debtors                        EUR         22,456,106.94

   Amounts due from related companies   EUR          9,933,628.70

   Other debtors and assets             EUR            568,107.10

  Liquid means                          EUR             61,943.05

 Remaining other assets                 EUR             44,424.24

  Accruals (assets)                     EUR             44,424.24

   thereof disagio                      EUR              3,000.00

 

LIABILITIES                             EUR        136,971,763.55

 Shareholders' equity                   EUR         55,305,602.86

  Capital                               EUR         15,338,756.44

   Subscribed capital (share capital)   EUR         15,338,756.44

  Reserves                              EUR         35,135,502.57

   Capital reserves                     EUR         35,135,502.57

  Balance sheet profit/loss (+/-)       EUR          4,831,343.85

   Profit / loss brought forward        EUR          9,283,800.95

   Annual surplus / annual deficit      EUR         -4,452,457.10

 Provisions                             EUR         26,125,279.49

  Pension provisions and comparable

  provisions                            EUR          9,222,956.00

  Other / unspecified provisions        EUR         16,902,323.49

 Liabilities                            EUR         55,540,881.20

  Financial debts                       EUR         27,735,631.77

   Liabilities due to banks             EUR         27,735,631.77

  Other liabilities                     EUR         27,805,249.43

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR         10,875,555.04

   Liabilities from received advance

   payments                             EUR          2,153,186.37

   Liabilities due to shareholders      EUR         10,602,715.87

   Liabililties due to related companiesEUR            217,515.12

   Unspecified other liabilities        EUR          3,956,277.03

    thereof liabilities from tax /

    financial authorities               EUR          1,684,000.00

    thereof liabilities from social

    security                            EUR             59,000.00

 

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

Code (HGB)

 Sales                                  EUR        176,360,855.52

 Inventory change + own costs (+/-)     EUR           -239,162.32

  Inventory change (+/-)                EUR           -239,162.32

 Other operating income                 EUR          4,671,024.54

 Cost of materials                      EUR         79,089,124.17

  Raw materials and supplies, purchased

  goods                                 EUR         69,931,911.93

  Purchased services                    EUR          9,157,212.24

 Gross result (+/-)                     EUR        101,703,593.57

 Staff expenses                         EUR         63,757,102.01

  Wages and salaries                    EUR         53,012,996.37

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR         10,744,105.64

 Total depreciation                     EUR          6,293,049.25

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR          6,293,049.25

 Other operating expenses               EUR         32,110,717.89

 Operating result from continuing

 operations                             EUR           -457,275.58

 Interest result (+/-)                  EUR         -2,966,786.68

  Interest and similar income           EUR            165,569.28

   thereof from related companies       EUR              9,000.00

  Interest and similar expenses         EUR          3,132,355.96

   thereof paid to related companies    EUR          1,751,000.00

 Financial result (+/-)                 EUR         -2,966,786.68

 Result from ordinary operations (+/-)  EUR         -3,424,062.26

 Income tax / refund of income tax (+/-)EUR           -953,261.46

 Other taxes / refund of taxes          EUR            -75,133.38

 Tax (+/-)                              EUR         -1,028,394.84

 Annual surplus / annual deficit        EUR         -4,452,457.10
 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.05

UK Pound

1

INR 90.41

Euro

1

INR 79.83

Euro

1

INR 79.64 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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