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MIRA
INFORM REPORT
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Report No. : |
498930 |
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Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
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Name : |
FORTUNA SPEZIALMASCHINEN GMBH |
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Registered Office : |
Eisenbahnstr. 15 D 71263 Weil der Stadt |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
10.11.1994 |
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Com. Reg. No.: |
HRB 252260 |
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Legal Form : |
Private limited company |
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Line of Business : |
Manufacture of other general-purpose machinery |
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No. of Employees : |
72 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 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
Fortuna
Spezialmaschinen GmbH
Eisenbahnstr. 15
D 71263 Weil der Stadt
Telephone:07033/7090
Telefax: 07033/709150
Homepage: www.fortuna-gmbh.de
E-mail:
info.leder@fortuna-gmbh.de
Company Status
Active
VAT no.
DE811750806
Company summery
LEGAL FORM Private limited company
Date of foundation: 10.11.1994
Shareholders'
agreement: 10.11.1994
Registered on: 22.12.1994
Commercial Register: Local
court 70190 Stuttgart
under: HRB 252260
Share capital: EUR 1,023,000.00
Shareholder:
NMP
Germany GmbH
Eisenbahnstr. 15
D 71263
Weil der Stadt
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Share: EUR 1,023,000.00
Registered on: 26.08.2016
Reg.
data: 70190 Stuttgart, HRB 757905
Profit transfer agreement
Manager:
Narith
Meksavanh
F Straßburg
having
sole power of representation
born:
03.10.1973
Nationality: French
Proxy:
Günter
Weslowsky
D 71686
Remseck
having
sole power of representation
born:
26.02.1955
Further functions/participations of Narith Meksavanh (Manager)
Manager:
NMP Germany GmbH
Eisenbahnstr. 15
D 71263
Weil der Stadt
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 26.08.2016
Reg.
data: 70190 Stuttgart, HRB 757905
RESIGNED ACTING PERSONS AND SHAREHOLDERS
11.01.2017 - 11.01.2017
Manager
Tilo Ullmer
Ringstr. 12
D
66957 Schweix
BUSINESS ACTIVITIES
Main industrial sector
28290 Manufacture of other
general-purpose machinery
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 Eisenbahnstr. 15
D 71263 Weil der Stadt
Land register documents were not available.
BANKERS
VEREINIGTE VOLKSBANK, 71261 WEIL DER STADT
Sort. code: 60390000
BIC: GENODES1BBV
DEUTSCHE BANK, 70049 STUTTGART
Sort. code: 60070070
BIC: DEUTDESSXXX
BADEN-WÜRTTEMBERGISCHE BANK, 70049 STUTTGART
Sort. code: 60020030
BIC: SOLADEST601
FINANCIAL FIGURES
Gross profit or loss:2016 EUR 9,248,331.00
Profit:
2016 EUR 1,985,906.00
Equipment: EUR 251,867.00
Ac/ts receivable: EUR 3,890,558.00
Liabilities: EUR 3,970,958.00
Employees:
72
Profit transfer agreement to:
NMP
Germany GmbH
Eisenbahnstr. 15
D 71263
Weil der Stadt
BALANCE SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]:
65.04
Liquidity ratio:
2.54
Return on total capital [%]:
22.59
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 70.65
Liquidity ratio:
3.74
Return on total capital [%]:
15.83
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]:
65.70
Liquidity ratio:
2.44
Return on total capital [%]:
14.96
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]:
60.80
Liquidity ratio:
1.54
Return on total capital [%]:
15.82
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 8,847,268.11
Fixed assets EUR 269,881.00
Intangible assets EUR 7,479.00
Tangible assets EUR 262,402.00
Plant / machinery EUR 10,535.00
Other tangible assets /
fixtures and
fittings EUR 251,867.00
Current assets EUR 8,564,755.41
Stocks EUR 4,362,297.46
Accounts receivable EUR 3,890,558.47
Amounts due from related
companies EUR 2,132,552.37
Other debtors and
assets EUR 1,758,006.10
Liquid means EUR 311,899.48
Remaining other assets EUR 12,631.70
Accruals (assets) EUR 12,631.70
LIABILITIES EUR 8,847,268.11
Shareholders' equity EUR 3,625,693.07
Capital EUR 1,023,000.00
Subscribed capital (share
capital) EUR 1,023,000.00
Reserves EUR 1,262,395.96
Capital reserves EUR 1,262,395.96
Balance sheet profit/loss
(+/-) EUR 1,340,297.11
Balance sheet profit /
loss EUR 1,340,297.11
Provisions EUR 1,250,617.15
Liabilities EUR 3,970,957.89
Financial debts EUR 828,950.49
Liabilities due to
banks EUR 828,950.49
Other liabilities EUR 3,142,007.40
Liabililties due to
related companiesEUR
2,149,060.69
Unspecified other
liabilities EUR 992,946.71
thereof liabilities from
tax /
financial
authorities EUR 78,403.66
thereof liabilities from
social
security EUR 12,787.18
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 9,248,330.69
Staff expenses EUR 5,239,693.17
Wages and salaries EUR 4,404,033.44
Social security
contributions and
expenses for pension plans
and
benefits EUR 835,659.73
Total depreciation EUR 90,689.38
Depreciation on tangible /
intangible
asssets (incl. start-up
and exp. of
bus. EUR 90,689.38
Other operating
expenses EUR
1,769,129.38
Operating result from
continuing
operations EUR 2,148,818.76
Interest result (+/-) EUR -154,047.00
Interest and similar
income EUR 88,858.41
thereof from related
companies EUR 84,769.48
Interest and similar
expenses EUR 242,905.41
thereof paid to related
companies EUR 161,154.20
Financial result (+/-) EUR -154,047.00
Result from ordinary
operations (+/-) EUR 1,994,771.76
Expenses for transfer of
profits to a
parent company EUR 1,985,906.49
Income tax / refund of
income tax (+/-)EUR -41.01
Other taxes / refund of
taxes EUR -8,824.26
Tax (+/-) EUR -8,865.27
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 11,653,760.98
Fixed assets EUR 2,424,672.00
Intangible assets EUR 17,121.00
Tangible assets EUR 2,407,551.00
Land / similar
rights EUR 2,126,030.00
Plant / machinery EUR 4,670.00
Other tangible assets /
fixtures and
fittings EUR 276,851.00
Current assets EUR 9,207,997.48
Stocks EUR 3,670,189.14
Accounts receivable EUR 4,631,964.19
Amounts due from related
companies EUR 2,646,208.63
Other debtors and
assets EUR 1,985,755.56
Liquid means EUR 905,844.15
Remaining other assets EUR 21,091.50
Accruals (assets) EUR 21,091.50
LIABILITIES EUR 11,653,760.98
Shareholders' equity EUR 3,625,693.07
Capital EUR 1,023,000.00
Subscribed capital (share
capital) EUR 1,023,000.00
Reserves EUR 1,262,395.96
Capital reserves EUR 1,262,395.96
Balance sheet profit/loss
(+/-) EUR 1,340,297.11
Balance sheet profit /
loss EUR 1,340,297.11
Provisions EUR 1,272,666.15
Liabilities EUR 6,755,401.76
Financial debts EUR 1,292,413.44
Liabilities due to
banks EUR 1,292,413.44
Other liabilities EUR 5,462,988.32
Liabililties due to
related companiesEUR
4,609,759.18
Unspecified other
liabilities EUR 853,229.14
thereof liabilities from
tax /
financial
authorities EUR 78,770.02
thereof liabilities from
social
security EUR 5,256.62
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 9,116,303.18
Staff expenses EUR 5,345,563.54
Wages and salaries EUR 4,442,265.65
Social security
contributions and
expenses for pension plans
and
benefits EUR 903,297.89
Total depreciation EUR 96,403.29
Depreciation on tangible /
intangible
asssets (incl. start-up
and exp. of
bus. EUR 96,403.29
Other operating
expenses EUR 1,696,417.37
Operating result from
continuing
operations EUR 1,977,918.98
Interest result (+/-) EUR -126,102.19
Interest and similar
income EUR 113,731.07
thereof from related
companies EUR 113,438.55
Interest and similar
expenses EUR 239,833.26
thereof paid to related
companies EUR 147,212.17
Financial result (+/-) EUR -126,102.19
Result from ordinary
operations (+/-) EUR 1,851,816.79
Extraordinary expenses EUR 13,397.00
Extraordinary result
(+/-) EUR -13,397.00
Expenses for transfer of
profits to a
parent company EUR 1,829,486.38
Income tax / refund of
income tax (+/-)EUR -77.15
Other taxes / refund of
taxes EUR -8,856.26
Tax (+/-) EUR -8,933.41
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 64.87 |
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1 |
INR 90.49 |
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Euro |
1 |
INR 79.91 |
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Euro |
1 |
INR 80.03 |
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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PRA |
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Report Prepared
by : |
TRU |
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.