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MIRA INFORM REPORT
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Report No. : |
516816 |
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Report Date : |
23.06.2018 |
IDENTIFICATION DETAILS
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Name : |
RHI GLAS GMBH |
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|
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Registered Office : |
Hagenauer Str. 53-55 a 65203 Wiesbaden |
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Country : |
Germany |
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Date of Incorporation : |
15.11.1999 |
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Com. Reg. No.: |
HRB 11602 |
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacture and
processing of other glass, including technical glassware. |
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No. of Employees : |
30 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 economic 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, investment, and exports
are likely to drive German GDP growth in 2018, and the country’s budget and
trade surpluses are likely to remain high.
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Source
: CIA |
Contact information
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Company name |
RHI GLAS GMBH |
|
Trading name |
RHI GLAS |
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Registered address |
65203 Wiesbaden |
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Correspondence address |
Hagenauer Str. 53-55 a 65203 Wiesbaden |
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Telephone number |
(0611) 236512 |
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Fax number |
(0611) 2365535 |
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Email address |
glass@rhi-ag.com |
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Website |
Registration
|
Registration number |
HRB 11602 |
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VAT-number |
Unknown |
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Status |
Active |
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Establishment date |
15-11-1999 |
|
Legal form |
Private Limited |
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Subscribed share capital |
EUR 500.000 |
Activities
Manufacture and processing
of other glass, including technical glassware.
Relations
|
Shareholders |
RHI Urmitz AG & Co.
KG Ultimate shareholder: RHI AG, Austria |
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Structure |
Subsidiaries/participations: None on record |
|
Branches |
No branches on record |
Management
|
Name |
Stephan Lohn, born 08-01-1972 |
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Postition |
Director |
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Since |
04-12-2017 |
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|
|
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Name |
Peter Luef, born 24-09-1965 |
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Postition |
Director |
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Since |
22-07-2008 |
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Name |
Yvonne Bergold, born 19-03-1977 |
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Postition |
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Since |
18-11-2010 |
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Name |
Jörg Otto Dittrich, born 15-05-1967 |
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Postition |
Proxy |
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Since |
18-03-2013 |
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Name |
Stefan Postrach, born 10-06-1967 |
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Postition |
Proxy |
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Since |
12-12-2008 |
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Name |
Friedrich Steger |
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Postition |
Proxy |
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Since |
26-07-2000 |
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Remark |
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Employees
|
Year |
2017 |
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|
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30 |
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Bank
|
Unicredit Bank -
Hypovereinsbank |
Payments
|
1-5
days beyond terms |
Remarks
|
Auditor: PRICEWATERHOUSECOOPERS GMBH |
Finances
Financial Year
|
31.12.2016 |
[%] |
31.12.2015 |
[%] |
|
|
Number of Weeks |
52 |
- |
52 |
- |
|
Currency |
EUR |
EUR |
||
|
Consolidated Accounts |
No |
No |
||
|
Financial Accounting Type |
HGB |
HGB |
Assets
|
A. Assets |
36.000 |
-21,74% |
46.000 |
-17,86% |
|
I. Intangible assets |
6.000 |
-70,00% |
20.000 |
-39,39% |
|
II. Fixed Assets
(long-term-assets) |
29.000 |
16,00% |
25.000 |
8,70% |
|
III. Financial Assets |
1.000 |
- |
1.000 |
- |
|
B. Current Assets |
34.188.000 |
12,84% |
30.298.000 |
7,29% |
|
I. Inventory |
1.090.000 |
-22,59% |
1.408.000 |
832,45% |
|
II. Receivabls and other
assets |
32.339.000 |
12,04% |
28.865.000 |
4,15% |
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therefrom trade receivables |
15.193.000 |
- |
- |
- |
|
IV. Liquid Assets |
759.000 |
999,99% |
25.000 |
-93,32% |
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Balance sheet total |
34.224.000 |
12,79% |
30.344.000 |
7,24% |
Liabilities
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A. Equity |
500.000 |
- |
500.000 |
- |
|
I. Subscribed capital |
500.000 |
- |
500.000 |
- |
|
B. Accruals |
2.653.000 |
-8,49% |
2.899.000 |
27,37% |
|
therefrom accruals for pension |
1.538.000 |
-6,28% |
1.641.000 |
6,77% |
|
C. Liabilities |
31.071.000 |
15,31% |
26.945.000 |
5,59% |
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therefrom trade payables |
365.000 |
- |
- |
- |
|
Balance sheet total |
34.224.000 |
12,79% |
30.344.000 |
7,24% |
Profit & Loss
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Turnover |
98.615.000 |
-1,29% |
99.904.000 |
18,21% |
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Other Operational Revenue |
489.000 |
-68,55% |
1.555.000 |
17,27% |
|
Material |
86.663.000 |
3,01% |
84.133.000 |
19,08% |
|
Staff |
3.650.000 |
-3,74% |
3.792.000 |
7,94% |
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Amortisation |
26.000 |
4,00% |
25.000 |
-10,71% |
|
Other Costs |
6.141.000 |
-43,34% |
10.838.000 |
15,89% |
|
Operational Result |
2.624.000 |
-1,76% |
2.671.000 |
16,38% |
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therefrom other interest
and similar income |
- |
- |
- |
- |
|
therefrom Interests and
similar expenses |
- |
- |
- |
- |
|
Financial Result |
-2.374.000 |
1,58% |
-2.412.000 |
-6,12% |
|
Ordinary operational result
(operational - and financial result) |
2.371.000 |
-2,79% |
2.439.000 |
15,87% |
|
Extraordinary Result |
- |
- |
-22.000 |
- |
|
Other Taxes |
-3.000 |
-160,00% |
5.000 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
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EURO |
1 |
INR 79.18 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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.