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MIRA
INFORM REPORT
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Report No. : |
510278 |
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Report Date : |
21.05.2018 |
IDENTIFICATION DETAILS
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Name : |
BAYERISCHE GLASWERKE GMBH |
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Registered Office : |
Zacharias-Frank-Str. 7 D 92660 Neustadt |
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Country : |
Germany |
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Financials (as on) : |
30.06.2017 |
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Date of Incorporation : |
25.05.2005 |
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Com. Reg. No.: |
HRB 2939 |
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Legal Form : |
Private limited company |
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Line of Business : |
Manufacture of hollow glass |
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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 : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
Bayerische
Glaswerke GmbH
Zacharias-Frank-Str. 7
D 92660 Neustadt
Telephone:09602/300
Telefax: 09602/301111
Homepage: www.spiegelau-profi.de
E-mail:
info@spiegelau-profi.de
Company Status
Active
VAT no.
DE243609252
Tax ID number
255/133/00096
Company summery
LEGAL FORM Private limited company
Date of foundation: 25.05.2005
Shareholders'
agreement: 25.05.2005
Registered on: 22.06.2005
Commercial Register: Local
court 92637 Weiden
under: HRB
2939
Share capital: EUR 1,000,000.00
Shareholder:
Nachtmann GmbH
Zacharias-Frank-Str. 7
D 92660
Neustadt
Legal
form: Private limited company
Share
capital: EUR 5,500,000.00
Share: EUR 1,000,000.00
Registered on: 15.12.2004
Reg.
data: 92637 Weiden, HRB 2880
Manager:
Alois
Kaufmann
Kiebitzweg 6
D 92637
Weiden
authorized to jointly represent the company
born:
05.07.1957
Profession: Fully qualified merchant
Marital
status: married
Manager:
Richard
Voit
Bürgermeister-Probst-Str. 45
D 92637
Weiden
authorized to jointly represent the company
born: 31.01.1962
Marital
status: married
Proxy:
Josef
Georg Knorr
D 92637
Weiden
authorized to jointly represent the company
born:
13.03.1961
Proxy:
Michael
Müller
D 92555
Trausnitz
authorized to jointly represent the company
born:
14.02.1961
Proxy:
Christian Kraus
Lanzerweg 20
D 92721
Störnstein
authorized to jointly represent the company
born:
16.07.1966
Marital
status: married
Proxy:
Harry
Zimmer
D 92721 Störnstein
authorized to jointly represent the company
born:
25.08.1957
Proxy:
Thomas
Müller
D 56821
Ellenz-Poltersdorf
authorized to jointly represent the company
born:
05.12.1967
Further functions/participations of Alois Kaufmann (Manager)
Shareholder:
GREENHOUSE GmbH
Am Berg
17
D 93167
Falkenstein
Legal form: Private limited
company
dissolved by official decree
Share
capital: EUR 52,000.00
Share: EUR 15,600.00
Registered
on: 23.01.2007
Reg.
data: 92224 Amberg, HRB 3992
Manager:
R-S-N
Deutschland GmbH Vertrieb
Zacharias-Frank-Str. 7
D 92660
Neustadt
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 10.01.2013
Reg.
data: 92637 Weiden, HRB 4145
Manager:
Nachtmann GmbH
Zacharias-Frank-Str. 7
D 92660
Neustadt
Legal
form: Private limited company
Share
capital: EUR 5,500,000.00
Registered
on: 15.12.2004
Reg.
data: 92637 Weiden, HRB 2880
Manager:
Nachtmann GmbH Werk Weiden
Zacharias-Frank-Str. 7
D 92660 Neustadt
Legal
form: Private limited company
Share
capital: EUR 185,000.00
Registered
on: 22.06.2005
Reg.
data: 92637 Weiden, HRB 2941
Manager:
Spiegelau GmbH Werk Spiegelau
Zacharias-Frank-Str. 7
D 92660
Neustadt
Legal
form: Private limited company
Share
capital: EUR
100,000.00
Registered
on: 22.06.2005
Reg.
data: 92637 Weiden, HRB 2938
Further functions/participations of Richard Voit (Manager)
Manager:
Nachtmann
GmbH
Zacharias-Frank-Str. 7
D 92660
Neustadt
Legal
form: Private limited company
Share
capital: EUR 5,500,000.00
Registered
on: 15.12.2004
Reg.
data: 92637 Weiden, HRB 2880
COMPANY HISTORY
company name and legal form
25.05.2005 - 15.11.2010
Nachtmann GmbH Werk Riedlhütte
Zacharias-Frank-Str. 7
D 92660 Neustadt
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
18.12.2010 - 28.03.2017
Manager
Franz Schmid
Sterrmühle 2
D 94548
Innernzell
BUSINESS ACTIVITIES
Main industrial sector
2313 Manufacture of
hollow glass
BRANCHES AND FACTORIES
Works:
Bayerische Glaswerke GmbH
Glashüttenstr. 1
D 94566
Riedlhütte
TEL.:
09602/300
FINANCIAL INFORMATION
Payment experience: Slow but Correct
Negative information: We
have no negative information at hand.
Balance sheet year: 2016/2017
REAL ESTATE
Type of ownership: Tenant
Address Zacharias-Frank-Str.
7
D 92660 Neustadt
Type of ownership: Tenant
Address Glashüttenstr. 1
D 94566 Riedlhütte
Land register documents were not available.
BANKERS
BANK FÜR TIROL UND VORARLBERG DEUTSCHLAND, 87700 MEMMINGEN
Sort. code: 72012300, Account no.: 674402800
BIC: BTVADE61XXX, IBAN: DE92720123000674402800
UNICREDIT BANK - HYPOVEREINSBANK, 92612 WEIDEN I.D.OPF.
Sort. code: 75320075, Account no.: 348664093
BIC: HYVEDEMM454, IBAN: DE98753200750348664093
BANK FUER TIROL UND VORARLBERG A.G., WOERGL
Account no.: 134167874
BIC: BTVAAT22WOE, IBAN: AT061634000134167874
FINANCIAL FIGURES
Turnover:
2015/2016 EUR 4,281,397.00
2016/2017 EUR 81,000,420.00
Profit:
2015/2016 EUR 502,861.00
2016/2017 EUR 704,987.00
further business figures:
Equipment: EUR 491,375.00
Ac/ts receivable: EUR 5,891,933.00
Liabilities: EUR 18,294,979.00
Employees:
72
- thereof permanent staff: 72
BALANCE SHEETS
Balance sheet ratios 01.07.2016 - 30.06.2017
Equity ratio [%]:
23.24
Liquidity ratio:
1.00
Return on total capital [%]:
3.10
Balance sheet ratios 01.07.2015 - 30.06.2016
Equity ratio [%]:
12.24
Liquidity ratio:
1.13
Return on total capital [%]:
5.64
Balance sheet ratios 01.07.2014 - 30.06.2015
Equity ratio [%]:
-21.92
Liquidity ratio:
0.79
Return on total capital [%]:
0.11
Balance sheet ratios 01.07.2013 - 30.06.2014
Equity ratio [%]:
-14.06
Liquidity ratio:
0.86
Return on total capital [%]:
0.80
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:
01.07.2016 - 30.06.2017
ASSETS EUR 23,860,809.73
Fixed assets EUR 1,532,943.00
Intangible assets EUR 967,946.00
Concessions, licences,
rights EUR 17,946.00
Goodwill EUR 950,000.00
Tangible assets EUR 558,997.00
Plant / machinery EUR 67,622.00
Other tangible assets /
fixtures and
fittings EUR 491,375.00
Financial assets EUR 6,000.00
Current assets EUR 22,090,824.11
Stocks EUR 7,471,378.82
Raw materials,
consumables and
supplies EUR 551,184.00
Finished goods / work in
progress EUR 6,920,194.82
Accounts receivable EUR 14,311,806.20
Trade debtors EUR 7,004,060.05
Amounts due from related
companies EUR 5,891,933.43
Other debtors and
assets EUR 1,415,812.72
Liquid means EUR 307,639.09
Remaining other assets EUR 237,042.62
Accruals (assets) EUR 37,042.62
Deferred taxes
(assets) EUR 200,000.00
LIABILITIES EUR 23,860,809.73
Shareholders' equity EUR 2,729,235.21
Capital EUR 1,000,000.00
Subscribed capital (share
capital) EUR 1,000,000.00
Reserves EUR 327,134.29
Capital reserves EUR 227,134.29
Retained earnings /
revenue reserves EUR
100,000.00
Balance sheet profit/loss
(+/-) EUR 1,402,100.92
Balance sheet profit /
loss EUR 1,402,100.92
Provisions EUR 2,836,596.00
Pension provisions and
comparable
provisions EUR 1,875,296.00
Other / unspecified
provisions EUR 961,300.00
Liabilities EUR 18,294,978.52
Financial debts EUR 1,760,000.00
Liabilities due to
banks EUR 1,760,000.00
Other liabilities EUR 16,534,978.52
Trade creditors (for IAS
incl. bills
of exchange) EUR 2,393,368.84
Liabililties due to
related companiesEUR
12,570,347.54
Unspecified other
liabilities EUR 1,571,262.14
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 81,000,419.52
Inventory change + own
costs (+/-) EUR -104,803.00
Inventory change
(+/-) EUR -104,803.00
Other operating income EUR 213,420.59
Cost of materials EUR 65,109,796.36
Raw materials and
supplies, purchased
goods EUR 62,269,102.55
Purchased services EUR 2,840,693.81
Gross result (+/-) EUR 15,999,240.75
Staff expenses EUR 4,516,513.60
Wages and salaries EUR 3,102,088.33
Social security
contributions and
expenses for pension plans
and
benefits EUR 1,414,425.27
Total depreciation EUR 191,323.48
Depreciation on tangible /
intangible
asssets (incl. start-up
and exp. of
bus. EUR 191,323.48
Other operating
expenses EUR 10,409,371.74
Operating result from
continuing
operations EUR 882,031.93
Interest result (+/-) EUR -225,055.84
Interest and similar
income EUR 41,147.25
Interest and similar
expenses EUR 266,203.09
Other financial result EUR 210.00
Income from securities and
loans from
financial assets EUR 210.00
Financial result (+/-) EUR -224,845.84
Result from ordinary
operations (+/-) EUR 657,186.09
Income tax / refund of
income tax (+/-)EUR 100,054.92
Other taxes / refund of
taxes EUR -52,253.89
Tax (+/-) EUR 47,801.03
Annual surplus / annual
deficit EUR 704,987.12
Type of balance
sheet: Company
balance sheet
Origin of the present
balance sheet:
electronic German Federal Gazette
Financial year:
01.07.2015 - 30.06.2016
ASSETS EUR 9,012,552.66
Fixed assets EUR 55,424.00
Tangible assets EUR 55,424.00
Plant / machinery EUR 35,268.00
Other tangible assets /
fixtures and
fittings EUR 20,156.00
Current assets EUR 8,853,928.48
Stocks EUR 164,390.00
Accounts receivable EUR 8,185,283.35
Liquid means EUR 504,255.13
Remaining other assets EUR 103,200.18
Accruals (assets) EUR 3,200.18
Deferred taxes
(assets) EUR 100,000.00
LIABILITIES EUR 9,012,552.66
Shareholders' equity EUR 897,113.80
Capital EUR 100,000.00
Subscribed capital (share
capital) EUR 100,000.00
Reserves EUR 100,000.00
Retained earnings /
revenue reserves EUR
100,000.00
Balance sheet profit/loss
(+/-) EUR 697,113.80
Balance sheet profit /
loss EUR 697,113.80
Provisions EUR 93,250.00
Liabilities EUR 8,022,188.86
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 4,281,397.43
Staff expenses EUR 443,978.96
Wages and salaries EUR 354,667.67
Social security
contributions and
expenses for pension plans
and
benefits EUR
89,311.29
Total depreciation EUR 6,567.17
Depreciation on tangible /
intangible
asssets (incl. start-up
and exp. of
bus. EUR 6,567.17
Other operating expenses EUR 3,133,581.20
Operating result from
continuing
operations EUR 697,270.10
Interest result (+/-) EUR -168,746.24
Interest and similar
income EUR 20,164.51
Interest and similar
expenses EUR 188,910.75
thereof paid to related
companies EUR 32,000.00
Financial result (+/-) EUR -168,746.24
Result from ordinary
operations (+/-) EUR 528,523.86
Other taxes / refund of
taxes EUR -25,662.89
Tax (+/-) EUR -25,662.89
Annual surplus / annual
deficit EUR 502,860.97
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.96 |
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|
1 |
INR 91.88 |
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Euro |
1 |
INR 80.28 |
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Euro |
1 |
INR 79.93 |
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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NIY |
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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.