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MIRA INFORM REPORT
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Report No. : |
485521 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
POLYMER-TECHNIK ELBE GMBH |
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Registered Office : |
Heuweg 5, D 06886 Lutherstadt Wittenberg |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
12.08.1992 |
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Com. Reg. No.: |
HRB 12297 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Manufacture of other rubber products |
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No. of Employees : |
348 |
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 : |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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 |
Company
name & address
POLYMER-TECHNIK ELBE GMBH
Company
Status: active
Heuweg 5
D 06886 Lutherstadt Wittenberg
Telephone:03491/6590
Telefax:
03491/659153
Homepage: www.polymertechnik.com
E-mail:
gl@polymertechnik.com
VAT
no.: DE811300306
Tax
ID number: 115/105/02045
CONCLUSION
Business relations are permissible.
LEGAL FORM Private Limited Company
Date of foundation: 12.08.1992
Begin of business
activities: 01.01.1993
Shareholders'
agreement: 12.08.1992
Registered on: 11.10.1993
Commercial Register: Local court 39576 Stendal
under: HRB 12297
Share capital: EUR 1,560,000.00
Shareholder:
Vorwerk & Sohn GmbH
& Co. KG.
Obere Lichtenplatzer Str.
336
D 42287 Wuppertal
Post Box:
20 19 64, D 42219
Wuppertal
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 5,200,000.00
contribution:
Share: EUR 780,000.00
Registered on: 02.06.1904
Reg. data: 42103
Wuppertal, HRA 7335
Shareholder:
Woco Franz Josef Wolf
Holding GmbH
Hanauer Landstr. 14-16
D 63628 Bad
Soden-Salmünster
Legal form: Private
limited company
Share capital: EUR 600,000.00
Share: EUR 780,000.00
Registered on: 18.05.1976
Reg. data: 63450 Hanau,
HRB 90175
Manager:
Dr. Wolfgang Keil
Hans-Sachs-Str. 1
D 06886 Lutherstadt
Wittenberg
born: 06.04.1958
Marital status: married
Manager:
Hans-Jürgen Lehmann
Lausigker Str. 35
D 06846 Dessau-Roßlau
born: 13.11.1950
Profession: Fully
qualified mathematician
Manager:
Matthias Klaue
D 14467 Potsdam
born: 08.03.1966
Proxy:
Uwe Schleinitz
Gartenstr. 14
D 06889 Lutherstadt
Wittenberg
authorized to jointly
represent the company
born: 24.09.1962
Proxy:
Jens Häseler
D 06886 Lutherstadt
Wittenberg
authorized to jointly
represent the company
born: 30.01.1969
Further functions/participations of Dr.
Wolfgang Keil (Manager)
Manager:
SILCOMP -
Silikoncompounding GmbH
Heuweg 5a
D 06886 Lutherstadt
Wittenberg
Legal form: Private
limited company
Share capital: EUR 250,000.00
Registered
on:
08.01.2014
Reg. data: 39576 Stendal, HRB 20203
Further functions/participations of
Hans-Jürgen Lehmann (Manager)
Manager:
SILCOMP -
Silikoncompounding GmbH
Heuweg 5a
D 06886
Lutherstadt Wittenberg
Legal form: Private
limited company
Share capital: EUR 250,000.00
Registered
on: 08.01.2014
Reg. data: 39576 Stendal, HRB 20203
BUSINESS
ACTIVITIES
Main industrial sector
2219
Manufacture of other rubber products
PARTICIPATIONS
Shareholder:
SILCOMP -
Silikoncompounding GmbH
Heuweg 5a
D 06886 Lutherstadt
Wittenberg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 250,000.00
Share: EUR 250,000.00
Reg. data: 08.01.2014
Local court
39576 Stendal
HRB 20203
Shareholder:
Maschinen & Technik
GmbH
Gummiwerkstr. 1
D 06886 Lutherstadt
Wittenberg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 72,500.00
Share: EUR 24,166.00
Reg. data: 28.01.1991
Local court
39576 Stendal
HRB 10391
FINANCIAL
INFORMATION
Payment experience: Regular
Negative information: We have no negative
information at hand.
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: proprietor
Share: 100.00 %
Address Heuweg 5
D 06886 Lutherstadt
Wittenberg
Residential floor 180,000.00 sq.m
space/ Usable floor
space:
Land register documents were not available.
BANKERS
COMMERZBANK VORMALS DRESDNER BANK, 06814
DESSAU-ROßLAU
Sort. code: 80080000
BIC: DRESDEFF800
BADEN-WÜRTTEMBERGISCHE BANK/LANDESBANK
BADEN-WÜRTTEMBERG, 04109
LEIPZIG
Sort. code: 60050101, Account no.: 7461502937
BIC: SOLADEST600, IBAN: DE91600501017461502937
DZ
BANK, 10001 BERLIN
Sort. code: 12060000
BIC: GENODEFF120
HSH
NORDBANK HAMBURG, KIEL, 20095 HAMBURG
Sort.
code: 21050000, Account no.: 1000064247
BIC: HSHNDEHHXXX, IBAN: DE53210500001000064247
POSTBANK, 04085 LEIPZIG
Sort. code: 86010090
BIC: PBNKDEFFXXX
FINANCIAL
FIGURES
Turnover: 2016 EUR 123,068,273.00
Profit:
2016 EUR 10,142,219.00
Equipment: EUR 343,730.00
Ac/ts receivable: EUR 24,397,799.00
Liabilities: EUR 32,232,455.00
Employees:
348
-
thereof permanent staff: 332
-
Trainees:
13
-
Temporary workers: 3
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 50.67
Liquidity ratio: 0.84
Return on total capital [%]: 13.60
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity
ratio [%]: 48.84
Liquidity ratio: 0.78
Return on total capital [%]: 10.43
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 53.78
Liquidity ratio: 0.78
Return on total capital [%]: 12.12
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 52.15
Liquidity ratio: 0.63
Return on total capital [%]: 11.25
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 74,575,179.37
Fixed assets
EUR 38,925,147.11
Intangible assets
EUR 86,247.73
Concessions, licences, rights
EUR 81,497.73
Advance payments for intang. assets
EUR 4,750.00
Tangible assets
EUR 19,454,054.47
Land / similar rights
EUR 6,390,249.46
Plant / machinery
EUR 11,331,073.39
Other tangible assets / fixtures and
fittings
EUR 343,730.47
Advance payments made / construction
in progress
EUR 1,389,001.15
Financial assets
EUR 19,384,844.91
Shares in participations /
subsidiaries and the like
EUR 15,591,182.01
Shares in related companies
EUR 15,549,050.06
Shares in investee companies
EUR 42,131.95
Loans to participations /
subsidiaries and the like
EUR 3,793,662.90
Loans to related companies
EUR 3,793,662.90
Current assets
EUR 35,632,071.92
Stocks
EUR 7,892,847.96
Raw materials, consumables and
supplies
EUR 5,561,757.41
Finished goods / work in progress
EUR 2,331,090.55
Accounts receivable
EUR 24,397,798.89
Trade debtors
EUR 16,399,027.24
Amounts due from related companies
EUR 722,949.88
Amounts due from investee companies
EUR 329.24
Other debtors and assets
EUR 7,275,492.53
Liquid means
EUR 3,341,425.07
Remaining other assets
EUR 17,960.34
Accruals (assets) EUR 17,960.34
LIABILITIES EUR 74,575,179.37
Shareholders' equity
EUR 36,383,196.00
Capital
EUR 1,560,000.00
Subscribed capital (share capital)
EUR 1,560,000.00
Reserves
EUR 15,000,000.00
Retained earnings / revenue reserves EUR 15,000,000.00
Balance sheet profit/loss (+/-)
EUR 19,823,196.00
Profit
/ loss brought forward EUR 9,680,977.23
Annual surplus / annual deficit
EUR 10,142,218.77
Items between shareholders' equity and
debt capital
EUR 2,806,082.00
Allowances / bonuses
EUR 2,806,082.00
Provisions
EUR 3,153,446.00
Pension provisions and comparable
provisions
EUR 35,832.00
Provisions for taxes EUR 879,040.00
Other / unspecified provisions
EUR 2,238,574.00
Liabilities
EUR 32,232,455.37
Financial debts
EUR 18,704,703.49
Liabilities
due to banks EUR 18,704,703.49
Other liabilities
EUR 13,527,751.88
Trade creditors (for IAS incl. bills
of exchange)
EUR 10,900,762.09
Liabililties due to related companiesEUR 48,303.29
Liabilities due to investee companiesEUR 161,959.00
Unspecified other liabilities
EUR 2,416,727.50
thereof liabilities from tax /
financial authorities EUR
1,451,459.31
thereof liabilities from social
security
EUR 27,102.15
Guarantees and other commitments
EUR 19,304,000.00
Guarantees / warranties
EUR 19,054,000.00
Warranties
EUR 19,054,000.00
Sureties / lendings of
creditworthiness
EUR 250,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 123,068,273.21
Inventory change + own costs (+/-)
EUR -518,792.76
Inventory change (+/-)
EUR -542,098.72
Capitalised own costs
EUR 23,305.96
Other operating income
EUR 661,956.78
Cost of materials
EUR 88,849,864.74
Raw materials and supplies, purchased
goods
EUR 87,439,928.06
Purchased
services EUR 1,409,936.68
Gross result (+/-)
EUR 34,361,572.49
Staff expenses
EUR 18,666,983.17
Wages and salaries
EUR 15,494,819.53
Social security contributions and
expenses for pension plans and
benefits
EUR 3,172,163.64
Total depreciation
EUR 2,335,507.47
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 2,335,507.47
Other operating expenses
EUR 3,444,110.27
Operating result from continuing
operations
EUR 9,914,971.58
Result from participating interests
(+/-)
EUR 3,627,805.70
Expenses / income from participations EUR 3,627,805.70
Income from related companies
EUR 3,627,805.70
Interest result (+/-)
EUR -227,947.75
Interest and similar income
EUR 24,054.95
Interest and similar expenses
EUR 252,002.70
Other financial result
EUR 64,588.89
Income from securities and loans from
financial assets
EUR 64,588.89
thereof related companies
EUR 64,588.89
Financial result (+/-)
EUR 3,464,446.84
Result from ordinary operations (+/-) EUR
13,379,418.42
Income tax / refund of income tax (+/-)EUR -3,155,298.39
Other taxes / refund of taxes
EUR -81,901.26
Tax
(+/-)
EUR -3,237,199.65
Annual surplus / annual deficit
EUR 10,142,218.77
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 85,599,302.64
Fixed assets
EUR 41,857,062.78
Intangible assets
EUR 1,420,234.36
Concessions, licences, rights
EUR 353,478.36
Goodwill
EUR 1,062,006.00
Advance payments for intang. assets
EUR 4,750.00
Tangible assets
EUR 40,268,357.51
Land / similar rights EUR 18,439,059.83
Plant / machinery
EUR 15,471,764.84
Other tangible assets / fixtures and
fittings
EUR 786,684.60
Advance payments made / construction
in progress EUR 5,570,848.24
Financial assets
EUR 168,470.91
Shares in participations /
subsidiaries and the like
EUR 168,470.91
Shares in associated companies
EUR 168,470.91
Current assets
EUR 42,890,941.76
Stocks
EUR 12,843,809.29
Raw materials, consumables and
supplies
EUR 8,520,532.09
Finished goods / work in progress
EUR 4,240,967.65
Advance payments made
EUR 82,309.55
Accounts receivable
EUR 26,700,667.26
Trade debtors EUR 24,437,342.26
Amounts due from investee companies
EUR 908.99
Other debtors and assets
EUR 2,262,416.01
Liquid means
EUR 3,346,465.21
Remaining other assets
EUR 851,298.10
Accruals (assets)
EUR 238,745.27
Deferred taxes (assets)
EUR 612,552.83
LIABILITIES EUR 85,599,302.64
Shareholders' equity
EUR 41,101,250.33
Capital
EUR 1,560,000.00
Subscribed capital (share capital)
EUR 1,560,000.00
Reserves
EUR 29,774,170.39
Retained earnings / revenue reserves EUR 29,774,170.39
Third party shares (+/-)
EUR 512,206.00
Balance sheet profit/loss (+/-)
EUR 6,240,000.00
Balance sheet profit / loss
EUR 6,240,000.00
Other shareholders' equity (+/-)
EUR 3,014,873.94
Other / unspecified part of the
shareholders' equity
EUR 3,014,873.94
Items between shareholders' equity and
debt capital EUR 3,123,556.00
Allowances / bonuses
EUR 3,123,556.00
Provisions
EUR 3,492,504.30
Pension provisions and comparable
provisions
EUR 31,793.00
Provisions for taxes
EUR 760,519.04
Other / unspecified provisions
EUR 2,700,192.26
Liabilities
EUR 37,744,467.97
Financial debts EUR
21,753,424.67
Liabilities due to banks
EUR 21,753,424.67
Other liabilities
EUR 15,991,043.30
Trade creditors (for IAS incl. bills
of exchange)
EUR 13,275,613.76
Liabilities from received advance
payments
EUR 73,139.00
Liabilities due to investee companiesEUR 50,142.17
Unspecified other liabilities
EUR 2,592,148.37
thereof liabilities from tax /
financial authorities
EUR 1,055,258.66
thereof liabilities from social
security
EUR 104,664.86
Other liabilities
EUR 137,524.04
Deferrals (liabilities)
EUR 12,855.00
Deferred taxes (not included under
provisions/liabilities)
EUR 124,669.04
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 152,575,730.11
Inventory change + own costs (+/-)
EUR -1,384,910.91
Inventory change (+/-)
EUR -1,408,217.04
Capitalised own costs
EUR 23,306.13
Other operating income
EUR 2,159,518.83
Cost of materials
EUR 107,018,075.43
Raw materials and supplies, purchased
goods
EUR 104,839,727.00
Purchased services
EUR 2,178,348.43
Gross result (+/-)
EUR 46,332,262.60
Staff expenses
EUR 21,499,031.23
Wages and salaries
EUR 17,374,426.65
Social security contributions and
expenses for pension plans and
benefits
EUR 4,124,604.58
Total depreciation
EUR 4,583,935.34
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 4,583,935.34
Other operating expenses
EUR 6,587,689.92
Operating result from continuing
operations EUR 13,661,606.11
Result from participating interests
(+/-)
EUR 33,530.07
Expenses / income from participations EUR 33,530.07
Income from related companies
EUR 33,530.07
Interest result (+/-)
EUR -370,546.27
Interest and similar income
EUR 90,241.19
Interest and similar expenses
EUR 460,787.46
Financial result (+/-)
EUR -337,016.20
Result from ordinary operations (+/-)
EUR 13,324,589.91
Income tax / refund of income tax (+/-)EUR -4,094,572.52
Other taxes / refund of taxes
EUR -472,723.15
Tax
(+/-) EUR -4,567,295.67
Annual surplus / annual deficit
EUR 8,757,294.24
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.83 |
|
|
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
|
EUR |
1 |
INR 76.24 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
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.