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MIRA INFORM REPORT
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Report No. : |
486686 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
INTERFACE PERFORMANCE MATERIALS
ALTENKIRCHEN GMBH |
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Registered Office : |
Koblenzer Str. 3, D 57610 Altenkirchen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
10.02.1938 |
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Com. Reg. No.: |
HRB 13683 |
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Legal Form : |
Private limited company |
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Line of Business : |
Manufacture of paper and paperboard |
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No. of Employees : |
105 |
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
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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 and address
Report on: INTERFACE
Performance Materials Altenkirchen GmbH
Company Status: active
Koblenzer Str. 3
D 57610 Altenkirchen
Telephone: 02681/80020
Telefax:
02681/800211
E-mail:
contact@interfacesolutions.com
VAT no.: DE148005054
CONCLUSION
Business relations are permissible.
Company
summary
Legal Form Private
limited company
Date of foundation: 10.02.1938
Shareholders'
agreement: 25.06.1998
Registered on: 20.07.1998
Commercial Register: Local court 56410 Montabaur
under: HRB
13683
Share capital: EUR 1,400,000.00
Shareholder:
INTERFACE Solutions
Holding GmbH
Koblenzer Str. 3
D 57610 Altenkirchen
Legal form: Private
limited company
Share capital: EUR 25,600.00
Share: EUR 1,400,000.00
Registered on: 12.09.2011
Reg. data: 56410
Montabaur, HRB 22768
Profit transfer agreement
Manager:
Robert Carl Rathsam
USA Lancaster/Pennsylvania
having sole power of
representation
born: 06.05.1966
Nationality: USA
Proxy:
Michael Rupnow
D 74906 Bad Rappenau
having sole power of
representation
born: 17.04.1966
Marital status: single
Proxy:
Daniel Müller
D 57635 Wölmersen
authorized to jointly
represent the company
born: 03.01.1976
Proxy:
Michael Schneider
D 57610 Almersbach
having sole power of
representation
born: 27.06.1970
Further functions/participations of Robert
Carl Rathsam (Manager)
Manager:
INTERFACE Solutions
Holding GmbH
Koblenzer Str. 3
D 57610 Altenkirchen
Legal form: Private limited
company
Share capital: EUR 25,600.00
Registered
on: 12.09.2011
Reg. data: 56410 Montabaur, HRB 22768
COMPANY
HISTORY
company name and legal form
23.06.2015 - 26.04.2016 INTERFACE Performance Materials
Altenkirchen GmbH
Koblenzer Str.
D 57610 Altenkirchen
Private limited
company
02.02.2011
- 23.06.2015 INTERFACE Solutions
Altenkirchen GmbH
Koblenzer Str. 3
D 57610 Altenkirchen
Private limited
company
01.01.2001 - 02.02.2011 Ahlstrom Altenkirchen GmbH
Koblenzer Str.
D 57610 Altenkirchen
Private limited
company
01.01.1998 - 01.01.2001 Jagenberg GmbH
Koblenzer Str.
D 57610 Altenkirchen
Private limited
company
01.01.1997 - 01.01.1998 Ferd. Jagenberg & Söhne GmbH
Koblenzer Str.
D 57610 Altenkirchen
Private limited
company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
17.07.2012 - 11.11.2015 Manager
William Warkentin
USA Michigan - West
Bloomfield
BUSINESS
ACTIVITIES
Main industrial sector
17120 Manufacture
of paper and paperboard
FINANCIAL
INFORMATION
Payment experience: Regular
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type
of ownership: Tenant
Address Koblenzer Str. 3
D 57610 Altenkirchen
Land register documents were not available.
BANKERS
Principal bank
SPARKASSE WESTERWALD-SIEG, 56470 BAD
MARIENBERG (WESTERWALD)
Sort. code: 57351030
BIC: MALADE51AKI
FINANCIAL
FIGURES
Gross profit or loss:2016
EUR 10,459,567.00
Profit: 2016 EUR 453,706.00
Equipment: EUR 107,187.00
Ac/ts receivable: EUR 3,048,514.00
Liabilities: EUR 4,114,675.00
Real
estate of the firm:
EUR 1,101,858.00
Employees:
105
-
thereof permanent staff: 105
Profit transfer agreement to:
INTERFACE Solutions
Holding GmbH
Koblenzer Str. 3
D 57610 Altenkirchen
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 45.89
Liquidity ratio: 1.88
Return on total capital [%]: 4.22
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 26.39
Liquidity ratio: 0.69
Return
on total capital [%]: -16.20
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 39.43
Liquidity ratio: 0.97
Return on total capital [%]: -5.47
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity
ratio [%]: 41.80
Liquidity ratio: 1.18
Return on total capital [%]: 3.58
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 10,746,875.70
Fixed assets
EUR 1,660,389.30
Intangible assets
EUR 14,667.11
Concessions, licences, rights
EUR 14,667.11
Tangible assets EUR 1,645,722.19
Land / similar rights
EUR 1,101,858.44
Plant / machinery
EUR 426,292.66
Other tangible assets / fixtures and
fittings
EUR 107,187.33
Advance payments made / construction
in progress
EUR 10,383.76
Current assets
EUR 9,086,486.40
Stocks
EUR 3,995,413.41
Accounts receivable
EUR 3,048,514.00
Liquid means
EUR 2,042,558.99
LIABILITIES EUR 10,746,875.70
Shareholders' equity
EUR 4,457,719.83
Capital
EUR 1,400,000.00
Subscribed capital (share capital)
EUR 1,400,000.00
Reserves
EUR 3,056,403.28
Capital reserves EUR 3,056,403.28
Balance sheet profit/loss (+/-)
EUR 1,316.55
Profit / loss brought forward
EUR 1,316.55
Items between shareholders' equity and
debt capital
EUR 39,043.80
Special items with reserve funds
EUR 39,043.80
Provisions
EUR 2,135,437.50
Liabilities
EUR 4,114,674.57
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 10,459,566.50
Staff expenses
EUR 5,773,190.77
Wages and salaries
EUR 4,797,883.80
Social
security contributions and
expenses for pension plans and
benefits
EUR 975,306.97
Total depreciation
EUR 323,894.06
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 323,894.06
Other operating expenses
EUR 3,692,964.08
Operating result from continuing
operations
EUR 669,517.59
Interest result (+/-)
EUR -141,337.20
Interest and similar income
EUR 29,723.80
Interest and similar expenses
EUR 171,061.00
thereof paid to related companies
EUR 109,000.00
Financial result (+/-)
EUR -141,337.20
Result from ordinary operations (+/-)
EUR 528,180.39
Expenses for transfer of profits to a
parent company
EUR 453,706.25
Other taxes / refund of taxes
EUR -74,474.14
Tax
(+/-)
EUR -74,474.14
Annual surplus / annual deficit
EUR 0.00
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 12,181,441.97
Fixed assets
EUR 1,940,079.54
Intangible assets
EUR 55,657.11
Concessions, licences, rights
EUR 55,657.11
Tangible assets
EUR 1,884,422.43
Land / similar rights EUR 1,179,023.57
Plant / machinery
EUR 546,439.36
Other tangible assets / fixtures and
fittings
EUR 158,959.50
Current assets
EUR 10,241,362.43
Stocks
EUR 4,581,990.48
Accounts receivable
EUR 4,456,880.34
Trade debtors
EUR 2,557,231.01
Amounts due from related companies
EUR 1,707,692.60
Other debtors and assets
EUR 191,956.73
Liquid means
EUR 1,202,491.61
LIABILITIES EUR 12,181,441.97
Shareholders' equity EUR 4,457,719.83
Items between shareholders' equity and
debt capital
EUR 29,282.34
Special items with reserve funds
EUR 29,282.34
Provisions
EUR 2,509,856.13
Liabilities
EUR 5,184,583.67
Other liabilities
EUR 5,184,583.67
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,528,295.49
Liabililties due to related companiesEUR 3,462,381.81
Unspecified other liabilities
EUR 193,906.37
Guarantees and other commitments
EUR 5,000,000.00
Other
guarantees and other commitmentsEUR
5,000,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 9,950,481.84
Staff expenses
EUR 6,692,929.78
Wages and salaries
EUR 5,537,440.00
Social security contributions and
expenses for pension plans and
benefits
EUR 1,155,489.78
Total depreciation EUR 350,427.39
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 350,427.39
Other operating expenses
EUR 4,373,353.23
Operating
result from continuing
operations
EUR -1,466,228.56
Interest result (+/-)
EUR -153,466.26
Interest and similar income
EUR 15,345.74
Interest and similar expenses
EUR 168,812.00
Financial result (+/-)
EUR -153,466.26
Result from ordinary operations (+/-)
EUR -1,619,694.82
Extraordinary expenses
EUR 11,420.00
Extraordinary result (+/-)
EUR -11,420.00
Income from assumption of loss by
parent company
EUR 1,707,638.47
Other taxes / refund of taxes
EUR -76,523.65
Tax
(+/-) EUR -76,523.65
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.76 |
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1 |
INR 87.91 |
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Euro |
1 |
INR 78.20 |
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Euro |
1 |
INR 78.18 |
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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NIS |
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Report Prepared
by : |
SYL |
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.