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MIRA INFORM REPORT
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Report No. : |
494335 |
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Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
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Name : |
MASCHINENBAU KITZ GMBH |
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Registered Office : |
Amperestr. 18, D 53844 Troisdorf |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
08.09.1966 |
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Com. Reg. No.: |
HRB 2107 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Manufacture of other special-purpose machinery
n.e.c. ·
Manufacture of other electric equipment
n.e.c. ·
Wholesale of electronic and
telecommunications equipment and parts |
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No. of Employees : |
204 |
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 : |
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 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, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2018.
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Source : CIA |
COMPANY
NAME AND ADDRESS
Report on: Maschinenbau
KITZ GmbH
Company Status: active
Amperestr. 18
D 53844 Troisdorf
Telephone: 0228/45980
Telefax:
0228/453145
Homepage: www.mk-group.com
E-mail:
info@mk-group.com
VAT no.: DE811793287
Tax ID number: 220/5751/0072
CONCLUSION
Business relations are permissible.
COMPANY
SUMMARY
Legal Form Private
limited company
Date of foundation: 08.09.1966
Shareholders'
agreement: 05.12.1984
Registered on: 11.01.1985
Commercial Register: Local court 53721 Siegburg
under: HRB
2107
Share capital: EUR 500,000.00
Shareholder:
Stephan Kitz
Am Mittelpfad 12a
D 53844 Troisdorf
born: 23.09.1966
Share: EUR 377,500.00
Shareholder:
Kitz Holding GmbH
Amperestr. 18
D 53844 Troisdorf
Legal form: Private
limited company
Share capital: EUR
25,000.00
Share: EUR 122,500.00
Registered on: 22.06.2015
Reg. data: 53721
Siegburg, HRB 13485
Manager:
Stephan Kitz
Am Mittelpfad 12a
D 53844 Troisdorf
having sole power of
representation
born: 23.09.1966
Profession: Businessman
Marital status: unknown
Manager:
Sascha Krebs
Frankfurter Str. 50
D 53757 Sankt Augustin
having sole power of
representation
born: 28.08.1974
Proxy:
Manfred Vogt
D 53859 Niederkassel
authorized to jointly
represent the company
born: 25.05.1971
Profession: Businessman
Marital status: unknown
Further functions/participations of Stephan
Kitz (Manager)
Limited partner:
SK Solar GmbH & Co.
KG
Glockenstr. 84
D 53844 Troisdorf
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 105,000.00
contribution:
Share: EUR 105,000.00
Registered
on: 15.07.2013
Reg. data: 53721 Siegburg, HRA 5694
Limited partner:
Kitz Vermögensverwaltung
KG
Am Mittelpfad 12a
D 53844 Troisdorf
Legal form: Limited
partnership
Total cap. EUR 4,000.00
contribution:
Share: EUR 2,000.00
Registered
on: 25.03.2014
Reg. data: 53721 Siegburg, HRA 5777
Shareholder:
Kitz Holding GmbH
Amperestr. 18
D 53844 Troisdorf
Legal form: Private limited
company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 22.06.2015
Reg. data: 53721 Siegburg, HRB 13485
Shareholder:
SK Solar Verwaltungs GmbH
Glockenstr. 84
D 53844 Troisdorf
Legal form: Private limited
company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 09.07.2013
Reg. data: 53721 Siegburg, HRB 12548
Shareholder:
mk-Design Gesellschaft
für Maschinen und
Konstruktionsgestaltung
mbH
Glockenstr. 80
D 53844 Troisdorf
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,564.59
Share: EUR 2,045.17
Registered
on: 26.11.1987
Reg. data: 53721 Siegburg, HRB 2587
Manager:
Kitz Holding GmbH
Amperestr. 18
D 53844 Troisdorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 22.06.2015
Reg. data: 53721 Siegburg, HRB 13485
Manager:
SK Solar Verwaltungs GmbH
Glockenstr. 84
D 53844 Troisdorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 09.07.2013
Reg. data: 53721 Siegburg, HRB 12548
Further functions/participations of Sascha
Krebs (Manager)
Manager:
mkf GmbH
Lindenstr. 1
D 07589 Lederhose
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 14.09.1992
Reg. data: 07745 Jena, HRB 202320
Manager:
mk DACH GmbH
Amperestr. 18
D 53844 Troisdorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 23.11.2017
Reg. data: 53721 Siegburg, HRB 14676
COMPANY
HISTORY
company name and legal form
19.03.1998 - 26.11.2014 Maschinenbau KITZ GmbH
Glockenstr. 84
D 53844 Troisdorf
Private limited
company
11.01.1985 - 19.03.1998 Maschinenbau Kitz GmbH
Glockenstr. 84
D 53844 Troisdorf
Private limited
company
08.09.1966 - 11.01.1985 Hans-Josef Kitz
Glockenstr. 84
D 53844 Troisdorf
Unregistered
commercial enterprise
RESIGNED ACTING PERSONS AND SHAREHOLDERS
14.12.2007 - 05.01.2016 Manager
Doris Kitz
Amperestr. 18a
D 53844 Troisdorf
BUSINESS
ACTIVITIES
Main industrial sector
28990 Manufacture of other special-purpose
machinery n.e.c.
Secondary industrial sector
27900
Manufacture of other electric equipment n.e.c.
46520
Wholesale of electronic and telecommunications equipment and parts
PARTICIPATIONS
Shareholder:
mkf GmbH
Lindenstr. 1
D 07589 Lederhose
Legal form: Private
limited company
Company Status: active
Share capital: EUR
50,000.00
Share: EUR 50,000.00
Reg. data: 14.09.1992
Local court
07745 Jena
HRB 202320
FINANCIAL
INFORMATION
Payment experience: No
complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: Tenant
Address Amperestr.
18
D 53844 Troisdorf
Land register documents were not available.
BANKERS
COMMERZBANK, 53821 TROISDORF
Sort. code: 37040044
BIC: COBADEFFXXX
VR-BANK RHEIN-SIEG, 53844 TROISDORF
Sort. code: 37069520
BIC: GENODED1RST
COMMERZBANK, 50447 KÖLN
Sort. code: 37040044
BIC: COBADEFFXXX
KREISSPARKASSE KÖLN, 50461 KÖLN
Sort. code: 37050299
BIC: COKSDE33XXX
VR-BANK RHEIN-SIEG, 53721 SIEGBURG
Sort. code: 37069520
BIC: GENODED1RST
FINANCIAL
FIGURES
Gross profit or loss:2016 EUR 20,976,227.00
Profit: 2016 EUR 1,364,881.00
Equipment: EUR 400,432.00
Ac/ts receivable: EUR 4,553,830.00
Liabilities: EUR 5,997,736.00
Real
estate of the firm:
EUR 210,717.00
Employees:
204
-
thereof permanent staff: 204
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 49.32
Liquidity ratio: 0.99
Return on total capital [%]: 9.91
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 40.23
Liquidity ratio: 0.64
Return on total capital [%]: 9.71
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 29.92
Liquidity ratio: 0.50
Return on total capital [%]: 2.11
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 28.07
Liquidity ratio: 0.57
Return on total capital [%]: 1.04
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 13,776,072.85
Fixed assets
EUR 4,472,144.75
Intangible assets
EUR 1,182,767.07
Internally generated industrial
property rights and similar rights
and assets
EUR 744,124.32
Other / unspecified intangible assetsEUR 438,642.75
Tangible assets
EUR 1,229,628.75
Land / similar rights
EUR 212,704.72
Plant / machinery
EUR 520,391.61
Other tangible assets / fixtures and
fittings
EUR 400,431.79
Advance payments made / construction
in progress EUR 96,100.63
Financial assets
EUR 2,059,748.93
Shares in participations /
subsidiaries and the like
EUR 1,859,746.93
Shares in related companies
EUR 1,859,746.93
Loans to participations /
subsidiaries and the like
EUR 200,002.00
Loans to related companies
EUR 200,002.00
Current assets
EUR 8,940,976.95
Stocks
EUR 3,333,672.04
Received advance payments for orders
(depreciated on the assets side)
EUR -428,322.20
Accounts receivable
EUR 4,553,829.87
Amounts due from related companies
EUR 542,445.74
Other debtors and assets
EUR 4,011,384.13
Liquid means
EUR 1,053,475.04
Remaining other assets
EUR 362,951.15
Accruals (assets) EUR 362,951.15
LIABILITIES EUR 13,776,072.85
Shareholders' equity
EUR 6,466,256.48
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 5,966,256.48
Profit / loss brought forward
EUR 4,601,375.98
Annual surplus / annual deficit
EUR 1,364,880.50
Provisions
EUR 1,055,370.06
Liabilities
EUR 5,997,736.31
Financial debts
EUR 4,148,410.63
Liabilities due to banks EUR 4,148,410.63
Other liabilities
EUR 1,849,325.68
Trade creditors (for IAS incl. bills
of exchange)
EUR 931,914.02
Liabililties due to related companiesEUR 82,245.85
Unspecified other liabilities
EUR 835,165.81
Other liabilities
EUR 256,710.00
Deferred taxes (not included under
provisions/liabilities)
EUR 256,710.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 20,976,226.53
Staff expenses
EUR 12,327,123.83
Wages and salaries
EUR 10,243,637.10
Social security contributions and
expenses for pension plans and
benefits
EUR 2,083,486.73
Total depreciation
EUR 1,138,658.58
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,026,231.94
Depreciation on current assets (+/-)
EUR 112,426.64
Other operating expenses
EUR 5,213,655.38
Operating result from continuing
operations
EUR 2,296,788.74
Interest result (+/-)
EUR -186,294.60
Interest and similar income
EUR 31,860.07
Interest and similar expenses
EUR 218,154.67
thereof paid to related companies
EUR 0.00
Other financial result
EUR 0.00
Income from securities and loans from
financial assets EUR 0.00
thereof related companies
EUR 0.00
Financial result (+/-)
EUR -186,294.60
Result from ordinary operations (+/-)
EUR 2,110,494.14
Income tax / refund of income tax (+/-)EUR -714,275.38
Other taxes / refund of taxes
EUR -31,338.26
Tax
(+/-)
EUR -745,613.64
Annual surplus / annual deficit
EUR 1,364,880.50
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 13,855,369.76
Fixed
assets EUR 5,170,060.24
Intangible assets
EUR 1,812,704.44
Internally generated industrial
property rights and similar rights
and assets
EUR 974,030.68
Concessions, licences, rights
EUR 838,673.76
Tangible assets
EUR 1,297,606.87
Land / similar rights
EUR 210,716.52
Plant / machinery EUR 651,004.94
Other tangible assets / fixtures and
fittings
EUR 435,885.41
Financial assets
EUR 2,059,748.93
Shares in participations /
subsidiaries and the like
EUR 1,859,746.93
Shares in related companies
EUR 1,859,746.93
Loans to participations /
subsidiaries and the like
EUR 200,002.00
Loans to related companies
EUR 200,002.00
Current assets
EUR 8,412,605.15
Stocks
EUR 3,810,887.41
Raw materials, consumables and
supplies
EUR 3,237,773.05
Finished goods / work in progress
EUR 895,985.89
Advance payments made
EUR 3,480.00
Minus received advance payments for
orders / installments for stocks
EUR -326,351.53
Accounts receivable
EUR 4,588,235.23
Trade debtors
EUR 3,335,399.64
Amounts due from related companies
EUR 447,841.01
Other debtors and assets
EUR 804,994.58
Liquid means EUR 13,482.51
Remaining other assets
EUR 272,704.37
Accruals (assets)
EUR 272,704.37
LIABILITIES EUR 13,855,369.76
Shareholders' equity
EUR 5,101,375.98
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 4,601,375.98
Profit / loss brought forward
EUR 3,401,862.43
Annual surplus / annual deficit
EUR 1,199,513.55
Provisions
EUR 785,571.14
Provisions for taxes EUR 199,856.00
Other / unspecified provisions
EUR 585,715.14
Liabilities
EUR 7,635,437.64
Financial debts
EUR 5,380,603.00
Liabilities
due to banks EUR 5,380,603.00
Other liabilities
EUR 2,254,834.64
Trade creditors (for IAS incl. bills
of exchange)
EUR 846,278.25
Liabililties due to related companiesEUR 325,363.18
Unspecified other liabilities
EUR 1,083,193.21
thereof liabilities from tax /
financial authorities
EUR 122,367.30
Other liabilities
EUR 332,985.00
Deferred taxes (not included under
provisions/liabilities)
EUR 332,985.00
Guarantees and other commitments
EUR 4,087,820.00
Guarantees / warranties
EUR 3,125,000.00
Guarantees
EUR 3,125,000.00
Sureties / lendings of
creditworthiness
EUR 962,820.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross
result (+/-) EUR 20,567,156.65
Staff expenses
EUR 11,429,411.66
Wages and salaries
EUR 9,463,968.78
Social security contributions and
expenses for pension plans and
benefits
EUR 1,965,442.88
Total depreciation
EUR 2,942,899.38
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,008,587.12
Depreciation on current assets (+/-)
EUR 1,934,312.26
Other operating expenses
EUR 5,129,967.31
Operating result from continuing
operations
EUR 1,064,878.30
Interest result (+/-)
EUR -241,766.18
Interest and similar income
EUR 30,328.69
Interest and similar expenses
EUR 272,094.87
thereof paid to related companies EUR 26,058.00
Other financial result
EUR 862,032.51
Income from securities and loans from
financial assets
EUR 862,032.51
thereof related companies
EUR 862,032.51
Financial result (+/-)
EUR 620,266.33
Result from ordinary operations (+/-)
EUR 1,685,144.63
Extraordinary expenses
EUR 146,355.56
Extraordinary result (+/-)
EUR -146,355.56
Income tax / refund of income tax (+/-)EUR -311,319.62
Other taxes / refund of taxes
EUR -27,955.90
Tax
(+/-)
EUR -339,275.52
Annual surplus / annual deficit
EUR 1,199,513.55
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
|
Euro |
1 |
INR 80.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
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.