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MIRA INFORM REPORT
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Report No. : |
494407 |
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Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
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Name : |
WEINMANN AACH AG |
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Registered Office : |
Am Eichwald 6 D 72280 Dornstetten |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
01.01.1949 |
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Com. Reg. No.: |
HRB 727315 |
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Legal Form : |
Public limited company |
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Line of Business : |
·
Wholesale of iron ores, iron, steel and iron and steel
semi-finished goods ·
Wholesale of non-ferrous ores, metals and metal
semi-finished goods ·
Retail sale of paints and building materials |
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No. of Employees : |
234 |
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 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 and address
Weinmann
Aach AG
Company
Status: active
Am Eichwald 6
D 72280 Dornstetten
Telephone:07443/24020
Telefax: 07443/20031
Homepage:
www.weinmann-aach.de
E-mail: info@weinmann-aach.de
VAT
no.: DE261627677
LEGAL
FORM Public limited company
Date
of foundation: 01.01.1949
Registered
on: 11.09.2008
Commercial
Register: Local court 70190 Stuttgart
under: HRB
727315
Share
capital:
EUR 10,000,000.00
President
of the Board of Directors:
Friedrich Weinmann
D 72280 Dornstetten
having sole power of
representation
born: 13.02.1948
Marital status: married
Member
of the Board of Directors:
Gebhard Strähler
D 72280 Dornstetten
having sole power of
representation
born: 24.06.1965
Member
of the Board of Directors:
Simon Schultz
D 72172 Sulz
having sole power of
representation
born: 24.04.1977
Member
of the Board of Directors:
Sascha Rauter
D 72290 Loßburg
having sole power of
representation
born: 21.01.1980
President
of the Supervisory Board:
Dr. Immanuel Stauch
Schwärzlocher Str. 75
D 72070 Tübingen
Further
functions/participations of Friedrich Weinmann (President
of
the Board of Directors)
Manager:
Weinmann Aach Schwäbisch
Gmünd GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private limited company
Share capital: EUR 100,000.00
Registered
on: 04.12.2014
Reg. data: 70190 Stuttgart, HRB 750920
Further
functions/participations of Gebhard Strähler (Member of
the
Board of Directors)
Manager:
Weinmann Aach Schwäbisch
Gmünd GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 04.12.2014
Reg. data: 70190 Stuttgart, HRB 750920
Further
functions/participations of Simon Schultz (Member of the
Board
of Directors)
Manager:
Weinmann Aach Schwäbisch
Gmünd GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 04.12.2014
Reg. data: 70190 Stuttgart, HRB 750920
Further
functions/participations of Sascha Rauter (Member of the
Board
of Directors)
Manager:
Weinmann Aach Schwäbisch
Gmünd GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 04.12.2014
Reg. data: 70190 Stuttgart, HRB 750920
COMPANY
HISTORY
company
name and legal form
01.01.1949
- 11.09.2008 Weinmann KG
Glattalstr. 33
D 72280 Dornstetten
Limited partnership
BUSINESS
ACTIVITIES
Main
industrial sector
46721 Wholesale of iron ores, iron, steel and iron
and steel
semi-finished
goods
46722 Wholesale of non-ferrous ores, metals and
metal
semi-finished
goods
47523 Retail sale of paints and building materials
BRANCHES
AND FACTORIES
Works:
Weinmann Aach AG
Robert-Bosch-Str. 10
D 72280 Dornstetten
TEL.: 07443/24020
FAX.: 07443/20031
Works:
Weinmann Aach AG
Eisentalstr. 11
D 71332 Waiblingen
TEL.: 07151/9750490
Works:
Weinmann Aach AG
Hofgut Kolnhausen 12
D 35423 Lich
TEL.: 06404/6580714
PARTICIPATIONS
Shareholder:
Weinmann Aach Schwäbisch
Gmünd GmbH
Lise-Meitner-Str. 14
D 73529 Schwäbisch Gmünd
Legal form: Private
limited company
Company Status: active
Share capital: EUR 100,000.00
Share: EUR 100,000.00
Reg. data: 04.12.2014
Local court
70190 Stuttgart
HRB 750920
Payment
experience: cash discount/within agreed
terms
Negative
information:We have no negative information at hand.
The maximum credit is our
recommendation for
the maximum credit limit
for the inquired
company.
Balance
sheet year: 2016
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 Am Eichwald 6
D 72280 Dornstetten
Land
register documents were not available.
BANKERS
COMMERZBANK,
72232 FREUDENSTADT
Sort.
code: 69440007
BIC:
COBADEFFXXX
COMMERZBANK
VORMALS DRESDNER BANK, 72232 FREUDENSTADT
Sort.
code: 60080000
BIC:
DRESDEFF600
VOLKSBANK
DORNSTETTEN, 72277 DORNSTETTEN
Sort.
code: 64262408
BIC:
GENODES1VDS
BADEN-WÜRTTEMBERGISCHE
BANK, 70049 STUTTGART
Sort.
code: 60020030
BIC:
SOLADEST601
LANDESBANK
BADEN-WÜRTTEMBERG, 70144 STUTTGART
Sort.
code: 60050000
BIC:
SOLADESTXXX
FINANCIAL
FIGURES
Turnover: 2016 EUR 120,000,000.00
Expected
turnover: *EUR 121,000,000.00
Equipment: EUR 1,691,184.00
Ac/ts
receivable:
EUR 10,458,950.00
Liabilities: EUR 24,119,155.00
Total
numbers of vehicles: 46
Employees:
234
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thereof permanent staff: 218
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Trainees:
16
The
business figures marked with an asterisk are estimates based
on average values in the line of business.
BALANCE
SHEETS
Balance
sheet ratios 01.01.2016 - 31.12.2016
Equity
ratio [%]: 45.50
Liquidity
ratio: 0.73
Return
on total capital [%]: 4.77
Balance
sheet ratios 01.01.2015 - 31.12.2015
Equity
ratio [%]: 51.33
Liquidity
ratio: 0.72
Return
on total capital [%]: 3.32
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity
ratio [%]: 47.89
Liquidity
ratio: 0.49
Return
on total capital [%]: 4.19
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity
ratio [%]: 48.71
Liquidity
ratio: 0.47
Return
on total capital [%]: 2.96
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 59,146,229.80
Fixed assets EUR 8,608,554.68
Intangible assets EUR 434,830.00
Concessions, licences, rights EUR 434,830.00
Tangible assets EUR 3,061,643.26
Land / similar rights EUR 965,253.26
Plant / machinery EUR 594,130.50
Other tangible assets / fixtures and
fittings EUR 1,502,259.50
Financial assets EUR 5,112,081.42
Shares in participations /
subsidiaries and the like EUR 199,867.29
Shares in related companies EUR 199,567.29
Shares in cooperatives EUR 300.00
Loans to participations /
subsidiaries and the like EUR 4,912,214.13
Loans to related companies EUR 4,912,214.13
Current assets EUR 50,244,135.12
Stocks EUR 27,722,855.03
Raw materials, consumables and
supplies EUR 95,313.00
Finished goods / work in progress EUR
25,810,422.78
Advance payments made EUR 1,817,119.25
Accounts receivable EUR 20,585,229.80
Trade debtors EUR 9,062,099.18
Amounts due from related companies EUR
11,100,583.56
Other debtors and assets EUR 422,547.06
Liquid means EUR 1,936,050.29
Remaining other assets EUR 293,540.00
Accruals (assets) EUR 293,540.00
LIABILITIES EUR 59,146,229.80
Shareholders' equity EUR 26,911,391.14
Capital EUR 10,000,000.00
Subscribed capital (share capital) EUR
10,000,000.00
Reserves EUR 16,206,675.94
Capital reserves EUR 3,033,063.00
Retained earnings / revenue reserves
EUR 13,173,612.94
Balance sheet profit/loss (+/-) EUR 704,715.20
Balance sheet profit / loss EUR 704,715.20
Provisions EUR 2,146,103.95
Provisions for taxes EUR 431,866.13
Other / unspecified provisions EUR 1,714,237.82
Liabilities EUR 30,073,079.71
Financial debts EUR 22,785,639.38
Liabilities due to banks EUR 22,785,639.38
Other liabilities EUR 7,287,440.33
Trade creditors (for IAS incl. bills
of exchange) EUR 3,918,038.66
Liabililties due to related
companiesEUR 309,362.03
Unspecified other liabilities EUR 3,060,039.64
Other liabilities EUR 15,655.00
Deferred taxes (not included under
provisions/liabilities) EUR 15,655.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 119,780,797.53
Other operating income EUR 571,393.07
Cost of materials EUR 92,802,348.80
Raw materials and supplies, purchased
goods EUR 92,600,778.54
Purchased services EUR 201,570.26
Gross result (+/-) EUR 27,549,841.80
Staff expenses EUR 13,279,833.51
Wages and salaries EUR 11,201,859.29
Social security contributions and
expenses for pension plans and
benefits EUR 2,077,974.22
Total depreciation EUR 1,162,546.93
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,162,546.93
Other operating expenses EUR 8,896,962.10
Operating result from continuing
operations EUR 4,210,499.26
Interest result (+/-) EUR -212,991.26
Interest and similar income EUR 300,746.34
Interest and similar expenses EUR 513,737.60
Financial result (+/-) EUR -212,991.26
Result from ordinary operations (+/-) EUR
3,997,508.00
Income tax / refund of income tax
(+/-)EUR -1,140,410.22
Other taxes / refund of taxes EUR -38,236.95
Tax (+/-) EUR -1,178,647.17
Annual surplus / annual deficit EUR 2,818,860.83
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 49,821,033.49
Fixed assets EUR 8,631,861.09
Intangible assets EUR 678,729.11
Concessions, licences, rights EUR 678,729.11
Tangible assets EUR 3,468,383.58
Land / similar rights EUR 1,003,717.58
Plant / machinery EUR 668,518.50
Other tangible assets / fixtures and
fittings EUR 1,796,147.50
Financial assets EUR 4,484,748.40
Shares in participations /
subsidiaries and the like EUR 199,867.29
Shares in related companies EUR 199,567.29
Shares in cooperatives EUR 300.00
Loans to participations /
subsidiaries and the like EUR 4,284,881.11
Loans to related companies EUR 4,284,881.11
Current assets EUR 40,902,910.40
Stocks EUR 23,354,701.18
Raw materials, consumables and
supplies EUR 97,040.00
Finished goods / work in progress EUR
22,964,793.79
Advance payments made EUR 292,867.39
Accounts receivable EUR 14,358,788.75
Trade debtors EUR 7,754,139.95
Amounts due from related companies EUR
5,981,013.36
Other debtors and assets EUR 623,635.44
Liquid means EUR 3,189,420.47
Remaining other assets EUR 286,262.00
Accruals (assets) EUR 286,262.00
LIABILITIES EUR 49,821,033.49
Shareholders' equity EUR 24,506,184.25
Capital EUR 2,827,536.00
Subscribed capital (share capital) EUR
2,827,536.00
Reserves EUR 21,264,986.18
Capital reserves EUR 3,033,063.00
Retained earnings / revenue reserves EUR 18,231,923.18
Balance sheet profit/loss (+/-) EUR 413,662.07
Balance sheet profit / loss EUR 413,662.07
Provisions EUR 1,031,177.73
Other / unspecified provisions EUR 1,031,177.73
Liabilities EUR 24,280,740.51
Financial debts EUR 18,831,916.41
Liabilities due to banks EUR 18,831,916.41
Other liabilities EUR 5,448,824.10
Trade creditors (for IAS incl. bills
of exchange) EUR 1,876,595.19
Liabililties due to related
companiesEUR 405,074.45
Unspecified other liabilities EUR 3,167,154.46
Other liabilities EUR 2,931.00
Deferred taxes (not included under
provisions/liabilities) EUR 2,931.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 115,201,896.50
Inventory change + own costs (+/-) EUR 27,500.00
Capitalised own costs EUR 27,500.00
Other operating income EUR 1,716,362.12
Cost of materials EUR 92,577,707.20
Raw materials and supplies, purchased
goods EUR 92,213,299.22
Purchased services EUR 364,407.98
Gross result (+/-) EUR 24,368,051.42
Staff expenses EUR 12,030,761.42
Wages and salaries EUR 10,116,487.87
Social security contributions and
expenses for pension plans and
benefits EUR 1,914,273.55
Total depreciation EUR 679,744.28
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 679,744.28
Other operating expenses EUR 8,937,524.09
Operating result from continuing
operations EUR 2,720,021.63
Interest result (+/-) EUR -319,516.01
Interest and similar income EUR 160,345.06
Interest and similar expenses EUR 479,861.07
Financial result (+/-) EUR -319,516.01
Result from ordinary operations (+/-) EUR 2,400,505.62
Income tax / refund of income tax
(+/-)EUR -704,934.82
Other taxes / refund of taxes EUR -40,922.52
Tax (+/-) EUR -745,857.34
Annual surplus / annual deficit EUR
1,654,648.28
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.82 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.76 |
|
Euro |
1 |
INR 79.90 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
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Report Prepared
by : |
DNS |
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.