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MIRA INFORM REPORT
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Report No. : |
516810 |
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Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
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Name : |
STEMMANN-TECHNIK GMBH |
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Registered Office : |
Niedersachsenstr. 2, D 48465 Schüttorf |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
17.10.1984 |
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Com. Reg. No.: |
HRB 130213 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Manufacture
of other electric equipment n.e.c. ·
Electrical
installation |
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No. of Employees : |
467 |
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 : |
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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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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 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 |
COMPANY
NAME AND ADDRESS
STEMMANN-TECHNIK GMBH
Company Status: Active
Niedersachsenstr. 2
D 48465 Schüttorf
Telephone:05923/81-0
Telefax: 05923/81-100
Homepage: www.stemmann.de
E-mail: info@stemmann.de
VAT no.: DE117037279
CONCLUSION
Business relations are permissible.
Company
Summary
LEGAL FORM Private
Limited Company
Date of foundation: 17.10.1984
Shareholders'
agreement: 17.10.1984
Registered on: 18.10.1984
Commercial Register: Local court 49074 Osnabrück
under: HRB
130213
Share
capital
EUR 2,000,000.00
Shareholder:
Fandstan Electric Limited
Craven House
16 Northumberland Avenue
GB - London WC2N 5AP
Legal form: Other legal
form
Share: EUR 2,000,000.00
Manager:
Michael Grunwald
D 48465 Schüttorf
having sole power of
representation
born: 18.01.1959
Manager:
Thomas Wilmes
D 49074 Osnabrück
having sole power of
representation
born: 18.04.1960
Proxy:
Johannes Fiedler
D 48496 Hopsten
authorized to jointly
represent the company
born: 07.09.1973
Further functions/participations of
Michael Grunwald (Manager)
Member of the Chairing-committee:
Verband der
Metallindustriellen
Niedersachsen e. V.
Schiffgraben 36
D 30175 Hannover
Legal form: Registered
association
Registered
on: 20.04.1950
Reg. data: 30175 Hannover, VR 2183
RESIGNED ACTING PERSONS AND SHAREHOLDERS
03.07.2014 - 04.04.2016 Manager
David M. Seitz
USA Gibsonia,
Pennsylvania
03.07.2014 - 04.04.2016 Manager
Patrick D. Dugan
USA Gibsonia,
Pennsylvania
BUSINESS
ACTIVITIES
Main
industrial sector
27900
Manufacture of other electric equipment n.e.c.
43210
Electrical installation
PARTICIPATIONS
Shareholder:
ABU GmbH
Lise-Meitner-Str. 17
D 48529 Nordhorn
Legal form: Private limited
company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 6,200.00
Reg. data: 16.06.2003
Local court 49074 Osnabrück
HRB 131532
FINANCIAL
INFORMATION
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2016
REAL ESTATE
Type of ownership: Tenant
Address Niedersachsenstr.
2
D 48465 Schüttorf
Land register documents were not
available.
BANKERS
Principal bank
DEUTSCHE BANK, 48456 SCHÜTTORF
Sort. code: 26770095
BIC:
DEUTDE3B267
Further bank
KREISSPARKASSE GRAFSCHAFT BENTHEIM ZU
NORDHORN, 48465 SCHÜTTORF
Sort. code: 26750001
BIC: NOLADE21NOH
FINANCIAL
FIGURES
Turnover: 2016 EUR 93,614,299.00
Profit: 2016 EUR 6,876,929.00
Equipment: EUR 3,274,180.00
Ac/ts receivable: EUR 32,129,769.00
Liabilities: EUR 6,006,062.00
Real
estate of the firm:
EUR 11,665,578.00
Employees:
467
-
thereof permanent staff: 439
-
Trainees:
26
- Temporary
workers: 2
BALANCE SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 69.93
Liquidity ratio: 10.00
Return on total capital [%]: 10.17
Balance
sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 64.23
Liquidity ratio: 10.00
Return on total capital [%]: 10.29
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 61.40
Liquidity
ratio: 4.61
Return on total capital [%]: 8.08
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 57.81
Liquidity ratio: 2.39
Return on total capital [%]: 5.66
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 67,647,357.41
Fixed assets
EUR 17,509,395.74
Intangible assets
EUR 420,793.48
Concessions, licences, rights
EUR 420,793.48
Tangible assets
EUR 15,943,247.99
Land / similar rights
EUR 11,259,170.62
Plant
/ machinery EUR 1,242,316.61
Other tangible assets / fixtures and
fittings
EUR 3,274,180.30
Advance payments made / construction
in progress
EUR 167,580.46
Financial assets
EUR 1,145,354.27
Shares in participations /
subsidiaries and the like
EUR 145,354.27
Shares in related companies
EUR 100,000.00
Shares in investee companies EUR 45,354.27
Loans to participations /
subsidiaries and the like
EUR 1,000,000.00
Loans to related companies
EUR 1,000,000.00
Current assets EUR 49,979,946.43
Stocks
EUR 13,403,239.00
Raw materials, consumables and
supplies
EUR 5,184,932.91
Finished goods / work in progress
EUR 8,218,306.09
Accounts receivable
EUR 32,129,769.46
Trade debtors
EUR 8,767,589.54
Amounts due from related companies
EUR 23,013,578.69
Amounts due from investee companies
EUR 165,979.47
Other debtors and assets
EUR 182,621.76
Liquid means
EUR 4,446,937.97
Remaining other assets
EUR 158,015.24
Accruals (assets) EUR 158,015.24
LIABILITIES EUR 67,647,357.41
Shareholders' equity
EUR 47,307,210.73
Capital
EUR 2,000,000.00
Subscribed capital (share capital)
EUR 2,000,000.00
Reserves
EUR 1,335,914.42
Capital reserves
EUR 1,335,914.42
Balance sheet profit/loss (+/-)
EUR 43,971,296.31
Profit / loss brought forward
EUR 37,094,367.24
Annual surplus / annual deficit
EUR 6,876,929.07
Provisions
EUR 14,334,084.79
Pension provisions and comparable
provisions EUR 7,718,344.00
Provisions for taxes
EUR 1,668,836.49
Other / unspecified provisions
EUR 4,946,904.30
Liabilities
EUR 6,006,061.89
Other liabilities
EUR 6,006,061.89
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,540,925.57
Liabilities from received advance
payments EUR 339,500.00
Liabililties due to related companiesEUR 630,869.82
Unspecified other liabilities
EUR 1,494,766.50
thereof liabilities from tax /
financial authorities
EUR 220,292.71
thereof liabilities from social
security
EUR 1,127.87
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 93,614,298.51
Inventory change + own costs (+/-)
EUR -4,375,057.85
Inventory change (+/-)
EUR -4,538,982.62
Capitalised own costs
EUR 163,924.77
Other operating income
EUR 823,573.26
Cost of materials
EUR 42,695,062.10
Raw materials and supplies, purchased
goods
EUR 39,799,905.47
Purchased services
EUR 2,895,156.63
Gross result (+/-)
EUR 47,367,751.82
Staff expenses
EUR 27,016,090.60
Wages and salaries
EUR 22,738,234.79
Social security contributions and
expenses for pension plans and
benefits
EUR 4,277,855.81
Total depreciation
EUR 1,489,734.68
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,489,734.68
Other operating expenses
EUR 9,508,743.99
Operating result from continuing
operations
EUR 9,353,182.55
Result from participating interests
(+/-) EUR 166,273.00
Expenses / income from participations EUR 166,273.00
Income from related companies
EUR 166,273.00
Interest result (+/-)
EUR -25,006.50
Interest and similar income
EUR 287,077.50
thereof from related companies
EUR 160,496.60
Interest and similar expenses
EUR 312,084.00
Financial result (+/-)
EUR 141,266.50
Result from ordinary operations (+/-)
EUR 9,494,449.05
Income tax / refund of income tax (+/-)EUR -2,571,590.73
Other taxes / refund of taxes
EUR -45,929.25
Tax
(+/-) EUR -2,617,519.98
Annual surplus / annual deficit
EUR 6,876,929.07
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 62,945,148.98
Fixed assets
EUR 18,360,328.21
Intangible assets
EUR 489,665.81
Concessions, licences, rights
EUR 489,665.81
Tangible assets
EUR 16,725,308.13
Land / similar rights
EUR 11,665,578.09
Plant / machinery
EUR 1,412,496.77
Other tangible assets / fixtures and
fittings
EUR 3,525,498.53
Advance payments made / construction
in progress
EUR 121,734.74
Financial assets
EUR 1,145,354.27
Shares in participations /
subsidiaries and the like
EUR 145,354.27
Shares in related companies
EUR 100,000.00
Shares in investee companies
EUR 45,354.27
Loans to participations /
subsidiaries and the like
EUR 1,000,000.00
Loans to related companies
EUR 1,000,000.00
Current assets
EUR 44,457,816.30
Stocks EUR 19,869,843.57
Raw materials, consumables and
supplies
EUR 6,823,446.86
Finished goods / work in progress
EUR 12,757,288.71
Advance payments made
EUR 289,108.00
Accounts receivable
EUR 14,346,404.47
Trade debtors
EUR 8,217,614.69
Amounts due from related companies
EUR 5,463,807.83
Amounts due from investee companies EUR
96,069.07
Other debtors and assets
EUR 568,912.88
Liquid means
EUR 10,241,568.26
Remaining other assets
EUR 127,004.47
Accruals (assets) EUR 127,004.47
LIABILITIES EUR 62,945,148.98
Shareholders' equity
EUR 40,430,280.66
Capital
EUR 2,000,000.00
Subscribed capital (share capital)
EUR 2,000,000.00
Reserves
EUR 1,335,914.42
Capital reserves
EUR 1,335,914.42
Balance sheet profit/loss (+/-)
EUR 37,094,366.24
Profit / loss brought forward EUR 30,666,442.87
Annual surplus / annual deficit
EUR 6,427,923.37
Provisions
EUR 14,592,091.84
Pension provisions and comparable
provisions EUR 7,656,526.00
Provisions for taxes
EUR 1,821,967.73
Other / unspecified provisions
EUR 5,113,598.11
Liabilities
EUR 7,922,776.48
Other
liabilities EUR 7,922,776.48
Trade creditors (for IAS incl. bills
of exchange)
EUR 5,362,554.59
Liabilities from received advance
payments
EUR 1,099,432.95
Liabililties due to related companiesEUR 312,049.12
Liabilities due to investee companiesEUR 59,664.48
Unspecified other liabilities
EUR 1,089,075.34
thereof liabilities from tax /
financial authorities
EUR 253,875.75
thereof liabilities from social
security
EUR 13,822.81
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 92,572,972.43
Inventory change + own costs (+/-)
EUR 3,048,495.41
Inventory change (+/-)
EUR 2,861,091.65
Capitalised own costs
EUR 187,403.76
Other operating income
EUR 1,628,971.66
Cost of materials
EUR 50,358,123.62
Raw materials and supplies, purchased
goods
EUR 47,292,302.33
Purchased services
EUR 3,065,821.29
Gross result (+/-)
EUR 46,892,315.88
Staff expenses
EUR 27,035,737.27
Wages and salaries
EUR 22,192,585.26
Social security contributions and
expenses for pension plans and
benefits
EUR 4,843,152.01
Total depreciation
EUR 1,498,058.34
Depreciation on tangible / intangible
asssets
(incl. start-up and exp. of
bus.
EUR 1,498,058.34
Other operating expenses
EUR 8,943,274.37
Operating result from continuing
operations
EUR 9,415,245.90
Interest result (+/-)
EUR -281,935.57
Interest and similar income
EUR 29,926.20
thereof from related companies
EUR 29,193.14
Interest and similar expenses
EUR 311,861.77
Financial result (+/-)
EUR -281,935.57
Result from ordinary operations (+/-)
EUR 9,133,310.33
Extraordinary expenses
EUR 46,125.00
Extraordinary result (+/-)
EUR -46,125.00
Income tax / refund of income tax (+/-)EUR -2,615,077.97
Other taxes / refund of taxes
EUR -44,183.99
Tax
(+/-)
EUR -2,659,261.96
Annual surplus / annual
deficit EUR 6,427,923.37
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.77 |
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|
1 |
INR 89.96 |
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Euro |
1 |
INR 78.86 |
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EUR |
1 |
INR 79.33 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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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 |
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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.