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MIRA INFORM REPORT
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Report No. : |
484130 |
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Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
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Name : |
MIHA BODYTEC GMBH |
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Registered Office : |
Siemensstr. 1, D 86368 Gersthofen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
28.02.2007 |
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Com. Reg. No.: |
HRB 22479 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Manufacture of sports goods · Manufacture of technical instruments and supplies for medical purposes n.e.c. ·
Wholesale of bicycles, bicycle parts and
accessories, sports and camping articles (except camping furniture) ·
Retail sale of medical and orthopedic arcticles |
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No. of Employees : |
15 |
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 (30.06.2017) |
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.
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Source
: CIA |
Company
name & address
MIHA BODYTEC GMBH
Company Status: active
Siemensstr. 1
D 86368 Gersthofen
Telephone:0821/4554920
Telefax: 0821/45549229
Homepage: www.miha-bodytec.de
E-mail: info@miha-bodytec.de
VAT no.: DE253424634
LEGAL FORM Private
Limited Company
Date of foundation: 28.02.2007
Shareholders'
agreement: 28.02.2007
Registered on: 08.03.2007
Commercial Register: Local court 86150 Augsburg
under: HRB 22479
Share capital: EUR 100,000.00
Shareholder:
Dieter
Miehlich
Fuggerstr. 26
D 86494
Emersacker
born:
27.05.1942
Share: EUR 100,000.00
Manager:
Jürgen Decker
D 86551
Aichach
having sole
power of representation
born:
11.03.1974
Proxy:
Thomas Reil
D 86199
Augsburg
having sole
power of representation
born:
28.04.1972
Further functions/participations of Jürgen Decker (Manager)
Manager:
ems-training.de services GmbH
Rollnerstr.
12
D 90408
Nürnberg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 19.05.2017
Reg. data: 90402 Nürnberg, HRB 34070
COMPANY
HISTORY
company name and legal form
19.07.2010 - 08.05.2013 miha
bodytec GmbH
Gubener
Str. 13 1/2
D 86156
Augsburg
Private
limited company
02.04.2008 - 19.07.2010 miha
bodytec GmbH (bis 19.07.2010)
Augsburger Str. 38b
D 86441
Zusmarshausen
Private
limited company
08.03.2007 - 02.04.2008 miha bodytec
GmbH
An der
Laugna 2
D 86494
Emersacker
Private
limited company
BUSINESS
ACTIVITIES
Main industrial sector
3230 Manufacture of sports
goods
Secondary industrial sector
32501 Manufacture of technical
instruments and supplies for medical purposes n.e.c.
46492 Wholesale of bicycles,
bicycle parts and accessories, sports and camping articles (except camping
furniture)
4774 Retail sale of medical and
orthopedic arcticles
PARTICIPATIONS
Shareholder:
ems-training.de services GmbH
Rollnerstr.
12
D 90408
Nürnberg
Legal form:
Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 12,500.00
Reg.
data: 19.05.2017
Local court 90402 Nürnberg
HRB 34070
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 Siemensstr. 1
D 86368 Gersthofen
Real Estate of: Dieter
Miehlich
Type of ownership: proprietor
Share: 100.00 %
Address An der Laugna
2
D 86494
Emersacker
Value at selling price:
EUR 1,278,000.00
Land register documents were not available.
BANKERS
VR-BANK HANDELS- UND GEWERBEBANK, 86063 AUGSBURG
Sort. code: 72062152
BIC: GENODEF1MTG
FINANCIAL
FIGURES
Equipment: EUR
517,121.00
Ac/ts
receivable:
EUR 433,738.00
Liabilities: EUR
1,130,747.00
Employees:
15
-
thereof permanent staff: 13
-
Temporary workers: 2
BALANCE
SHEETS
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]:
75.74
Liquidity ratio:
10.00
Return on total capital [%]:
30.45
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]:
77.84
Liquidity ratio:
10.00
Return on total capital [%]:
38.03
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]:
80.53
Liquidity ratio:
10.00
Return on total capital [%]:
33.15
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]:
74.84
Liquidity ratio:
10.00
Return on total capital [%]:
-3.64
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 13,065,210.77
Fixed assets EUR 633,323.00
Intangible assets EUR 116,202.00
Concessions, licences, rights EUR 116,202.00
Tangible assets EUR 517,121.00
Other tangible assets / fixtures and
fittings EUR 517,121.00
Current assets EUR 12,392,428.77
Stocks EUR 6,693,065.88
Raw materials, consumables and
supplies EUR 200,576.10
Finished goods / work in progress EUR
4,928,139.58
Advance payments made EUR 1,564,350.20
Accounts receivable EUR 433,738.16
Trade debtors EUR 177,992.22
Amounts due from related companies EUR 173,683.42
Other debtors and assets EUR 82,062.52
Liquid means EUR 5,265,624.73
Remaining other assets EUR 39,459.00
Accruals (assets) EUR 39,459.00
LIABILITIES EUR 13,065,210.77
Shareholders' equity EUR 9,895,622.13
Capital EUR 100,000.00
Subscribed capital (share capital) EUR 100,000.00
Balance sheet profit/loss (+/-) EUR 9,795,622.13
Balance sheet profit / loss EUR 9,795,622.13
Provisions EUR 2,038,841.50
Pension provisions and comparable
provisions EUR 1,692,801.50
Other / unspecified provisions EUR 346,040.00
Liabilities EUR 1,130,747.14
Other liabilities EUR 1,130,747.14
Trade creditors (for IAS incl. bills
of exchange) EUR 55,770.86
Liabilities from received advance
payments EUR 210,482.51
Unspecified other liabilities EUR 864,493.77
thereof liabilities from tax /
financial authorities EUR 856,342.67
thereof liabilities from social
security EUR 746.63
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 13,542,716.92
Staff expenses EUR 2,528,299.92
Wages and salaries EUR 2,319,845.42
Social security contributions and
expenses for pension plans and
benefits EUR 208,454.50
Total depreciation EUR 170,238.65
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 170,238.65
Other operating expenses EUR 5,271,159.58
Operating result from continuing
operations EUR 5,573,018.77
Interest result (+/-) EUR -5,118.11
Interest and similar income EUR 19,793.89
Interest and similar expenses EUR 24,912.00
Financial result (+/-) EUR -5,118.11
Result from ordinary operations (+/-) EUR
5,567,900.66
Income tax / refund of income tax
(+/-)EUR -1,589,705.22
Tax (+/-) EUR -1,589,705.22
Annual surplus / annual deficit EUR 3,978,195.44
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 10,111,440.78
Fixed assets EUR 693,870.81
Intangible assets EUR 169,592.00
Concessions, licences, rights EUR 169,592.00
Tangible assets EUR 524,278.81
Other tangible assets / fixtures and
fittings EUR 515,763.00
Advance payments made / construction
in progress EUR 8,515.81
Current assets EUR 9,294,864.97
Stocks EUR 3,368,542.22
Raw materials, consumables and
supplies EUR 94,683.19
Finished goods / work in progress EUR
1,918,132.03
Advance payments made EUR 1,355,727.00
Accounts receivable EUR 502,211.82
Trade debtors EUR 189,388.86
Amounts due from related companies EUR 212,665.61
Other debtors and assets EUR 100,157.35
Liquid means EUR 5,424,110.93
Remaining other assets EUR 122,705.00
Accruals (assets) EUR 122,705.00
LIABILITIES EUR 10,111,440.78
Shareholders' equity EUR 7,917,426.69
Capital EUR 100,000.00
Subscribed capital (share capital) EUR 100,000.00
Balance sheet profit/loss (+/-) EUR 7,817,426.69
Balance sheet profit / loss EUR 7,817,426.69
Provisions EUR 1,546,245.10
Pension provisions and comparable
provisions EUR 660,918.00
Provisions for taxes EUR 650,597.10
Other / unspecified provisions EUR
234,730.00
Liabilities EUR 647,768.99
Other liabilities EUR 647,768.99
Trade creditors (for IAS incl. bills
of exchange) EUR 208,628.95
Liabilities from received advance
payments EUR 115,902.09
Unspecified other liabilities EUR 323,237.95
thereof liabilities from tax /
financial authorities EUR 318,240.68
thereof liabilities from social
security EUR 720.90
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 11,708,038.72
Staff expenses EUR 1,806,274.88
Wages and salaries EUR 1,681,629.91
Social security contributions and
expenses for pension plans and
benefits EUR 124,644.97
Total depreciation EUR 126,987.29
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 126,987.29
Other operating expenses EUR 4,499,849.39
Operating result from continuing
operations EUR 5,274,927.16
Interest result (+/-) EUR -11,583.25
Interest and similar income EUR
17,360.75
Interest and similar expenses EUR 28,944.00
Financial result (+/-) EUR -11,583.25
Result from ordinary operations (+/-) EUR
5,263,343.91
Income tax / refund of income tax (+/-)EUR -1,499,326.07
Tax (+/-) EUR -1,499,326.07
Annual surplus / annual deficit EUR 3,764,017.84
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.52 |
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1 |
INR 86.05 |
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Euro |
1 |
INR 76.53 |
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EUR |
1 |
INR 77.62 |
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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PRI |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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.