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MIRA INFORM REPORT
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Report No. : |
510746 |
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Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GLEASON-PFAUTER MASCHINENFABRIK GMBH |
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Registered Office : |
Daimlerstr.
14,D 71636 Ludwigsburg |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
03.04.1997 |
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Com. Reg. No.: |
HRB 205220 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Manufacture of metal forming machinery ·
Wholesale of machine tools |
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No. of Employees : |
617 |
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 (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
Report
on: GLEASON-PFAUTER
Maschinenfabrik GmbH
Company
Status: active
Daimlerstr.
14
D
71636 Ludwigsburg
Telephone:07141/404-0
Telefax: 07141/404-500
Homepage:
www.gleason.com
E-mail: gleason-pfauter@gleason.com
VAT
no.: DE812247036
Tax
ID number: 43141/40622
Company
summery
LEGAL
FORM Private limited company
Date
of foundation: 1997
Shareholders'
agreement: 03.01.1997
Registered
on: 03.04.1997
Commercial
Register: Local court 70190 Stuttgart
under: HRB 205220
Share
capital:
EUR 3,604,607.76
Shareholder:
Gleason Germany (Holdings)
GmbH
Moosacher Str. 42
D 80809 München
Legal form: Private
limited company
Share capital: EUR 26,075.89
Share: EUR 3,604,607.76
Registered on: 19.06.1997
Reg. data: 80333 München,
HRB 116884
Profit transfer agreement
Manager:
Karl-Heinz Kübler
Kindergartenstr. 8
D 71672 Marbach
having sole power of
representation
born: 09.05.1960
Manager:
John Perroti
USA Rochester
having sole power of
representation
born: 17.05.1960
Nationality: USA
Manager:
Edward J. Pelta
1000 University avenue
USA 14692-2970 Rochester/New York
having sole power of
representation
born: 28.01.1961
Nationality: USA
Manager:
Dr. Ulrich Brahms
D 24239 Achterwehr
having sole power of
representation
born: 06.04.1965
Profession: Engineer
Marital status: unknown
Proxy:
Thomas Scholz
D 85591 Vaterstetten
authorized to jointly
represent the company
born: 15.08.1961
Proxy:
Matthias Philippin
D 71277 Rutesheim
authorized to jointly represent
the company
born: 23.07.1968
Proxy:
Ralf Nierlein
D 34289 Zierenberg
authorized to jointly
represent the company
born: 05.05.1967
Proxy:
Carsten Springer
D 71404 Korb
authorized to jointly
represent the company
born: 17.08.1967
Proxy:
Sven Stark
D 71686 Remseck
authorized to jointly represent the
company
born: 25.03.1974
Proxy:
Dr.Ing. Kai Adler
D 71636 Ludwigsburg
authorized to jointly
represent the company
born: 25.01.1974
Further
functions/participations of Karl-Heinz Kübler (Manager)
Manager:
Gleason-Hurth Tooling GmbH
Moosacher Str. 42-44
D 80809 München
Legal form: Private
limited company
Share capital: EUR 2,045,167.52
Registered
on: 28.08.1995
Reg. data: 80333 München, HRB 110558
Manager:
Gleason Germany (Holdings) GmbH
Moosacher Str. 42
D 80809 München
Legal form: Private
limited company
Share capital: EUR 26,075.89
Registered
on: 19.06.1997
Reg. data: 80333 München, HRB 116884
Manager:
Gleason Cutting Tools GmbH
Hauptstr. 52
D 79871 Eisenbach
Legal form: Private limited company
Share capital: EUR 1,040,000.00
Registered
on: 21.07.1998
Reg. data: 79098 Freiburg, HRB 611590
Further
functions/participations of Edward J. Pelta (Manager)
Manager:
Gleason-Hurth Tooling GmbH
Moosacher Str. 42-44
D 80809 München
Legal form: Private
limited company
Share capital: EUR 2,045,167.52
Registered
on: 28.08.1995
Reg. data: 80333 München, HRB 110558
Manager:
Gleason Germany (Holdings)
GmbH
Moosacher Str. 42
D 80809 München
Legal form: Private
limited company
Share capital: EUR 26,075.89
Registered
on: 19.06.1997
Reg. data: 80333 München, HRB 116884
Member
of the Board of Directors:
Gleason Sales (Germany)
Zweigniederlassung
der Gleason Sales
Corperation
Daimlerstr. 14
D 71636 Ludwigsburg
Legal form: Branch of a
public limited
company under
foreign law
Registered
on: 29.10.1990
Reg. data: 70190 Stuttgart, HRB 205221
Vice-president:
Gleason Sales (Germany)
Zweigniederlassung
der Gleason Sales
Corperation
Daimlerstr. 14
D 71636 Ludwigsburg
Legal form: Branch of a
public limited
company under
foreign law
Registered
on: 29.10.1990
Reg. data: 70190 Stuttgart, HRB 205221
Further
functions/participations of Dr. Ulrich Brahms (Manager)
Manager:
Flabeg Holding GmbH
Waldaustr. 13
D 90441 Nürnberg
Legal form: Private
limited company
insolvent
Share capital: EUR 25,000.00
Registered
on: 28.11.2008
Reg. data: 90402 Nürnberg, HRB 24789
Practising
person:
Dr. Ulrich Brahms
Schmalholt 21
D 24239 Achterwehr
Legal form: Independent
profession
COMPANY
HISTORY
company
name and legal form
08.09.1997
- 08.09.1997 Gleason Maschinenfabrik
GmbH
Leopoldstr. 236
D 80807 München
Private limited
company
03.01.1997
- 03.01.1997 AB 9704
Vermögensverwaltungs GmbH
Leopoldstr. 236
D 80807 München
Private limited
company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
19.01.2015
- 06.09.2016 Manager
Dr. Jens Holger Muckli
Badstr. 2
D 81379 München
09.05.2007
- 04.05.2016 Manager
Armin Walther
Oggenrieder Weg 12
D 87600 Kaufbeuren
BUSINESS
ACTIVITIES
Main
industrial sector
28410 Manufacture of metal forming machinery
46620 Wholesale of machine tools
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 Daimlerstr. 14
D 71636 Ludwigsburg
Land
register documents were not available.
BANKERS
Principal
bank
DEUTSCHE
BANK, 71603 LUDWIGSBURG
Sort.
code: 60470082, Account no.: 0217620
BIC:
DEUTDESS604, IBAN: DE20604700820021762000
Further
banks
KREISSPARKASSE
LUDWIGSBURG, 71638 LUDWIGSBURG
Sort.
code: 60450050
BIC:
SOLADES1LBG
LANDESBANK
BADEN-WÜRTTEMBERG, 70144 STUTTGART
Sort.
code: 60050000, Account no.: 2616
BIC:
SOLADESTXXX, IBAN: DE95600500000000002616
FINANCIAL
FIGURES
Turnover: 2016 EUR 178,718,515.00
Profit: 2016 EUR 2,703,455.00
Equipment: EUR 3,600,227.00
Ac/ts
receivable: EUR 41,944,248.00
Liabilities: EUR 18,588,968.00
Real
estate of the firm:
EUR 12,126,690.00
Employees:
617
-
thereof permanent staff: 593
-
Trainees:
24
Profit
transfer agreement to:
Gleason Germany (Holdings)
GmbH
Moosacher Str. 42
D 80809 München
BALANCE
SHEETS
Balance
sheet ratios 01.01.2016 - 31.12.2016
Equity
ratio [%]: 34.82
Liquidity
ratio: 3.47
Return
on total capital [%]: 2.63
Balance
sheet ratios 01.01.2015 - 31.12.2015
Equity
ratio [%]: 29.10
Liquidity
ratio: 2.32
Return
on total capital [%]: -14.60
Balance
sheet grade: 3.5
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity
ratio [%]: 19.04
Liquidity
ratio: 2.21
Return
on total capital [%]: -8.97
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity
ratio [%]: 33.15
Liquidity
ratio: 2.46
Return
on total capital [%]: -4.87
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.
Financials
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 102,966,599.68
Fixed assets EUR 21,443,869.49
Intangible assets EUR 2,373,991.68
Concessions, licences, rights EUR 811,483.48
Advance payments for intang. assets EUR
1,562,508.20
Tangible assets EUR 19,069,877.81
Land / similar rights EUR 12,126,690.48
Plant / machinery EUR 3,238,262.95
Other tangible assets / fixtures and
fittings EUR 3,600,226.96
Advance payments made / construction
in progress EUR 104,697.42
Current assets EUR 81,209,086.58
Stocks EUR 36,564,046.76
Raw materials, consumables and
supplies EUR 7,537,926.70
Finished goods / work in progress EUR
44,134,258.26
Advance payments made EUR 624,877.10
Minus received advance payments for
orders / installments for stocks EUR
-15,733,015.30
Accounts receivable EUR 41,944,248.40
Trade debtors EUR 38,413,781.85
Amounts due from related companies EUR
2,537,564.18
Other debtors and assets EUR 992,902.37
Liquid means EUR 2,700,791.42
Remaining other assets EUR 313,643.61
Accruals (assets) EUR 313,643.61
LIABILITIES EUR 102,966,599.68
Shareholders' equity EUR 32,055,543.44
Capital EUR 3,604,607.76
Subscribed capital (share capital) EUR
3,604,607.76
Reserves EUR 28,450,744.70
Capital reserves EUR 28,450,744.70
Balance sheet profit/loss (+/-) EUR 190.98
Profit / loss brought forward EUR 190.98
Provisions EUR 49,883,297.23
Pension provisions and comparable
provisions EUR 25,854,008.00
Provisions for taxes EUR 1,478,819.90
Other / unspecified provisions EUR 22,550,469.33
Liabilities EUR 18,588,968.17
Other liabilities EUR 18,588,968.17
Trade creditors (for IAS incl. bills
of exchange) EUR 9,056,100.68
Liabililties due to related
companiesEUR 7,722,477.35
Unspecified other liabilities EUR 1,810,390.14
thereof liabilities from tax /
financial authorities EUR 648,000.00
thereof liabilities from social
security EUR 21,000.00
Other liabilities EUR 2,438,790.84
Deferrals (liabilities) EUR 1,220,247.84
Deferred taxes (not included under
provisions/liabilities) EUR 1,218,543.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 178,718,514.93
Manufacturing costs EUR 140,300,047.31
Gross result on sales EUR 38,418,467.62
Distribution costs EUR 20,112,280.20
General administration expenses EUR 5,599,144.44
Research and development costs EUR 5,535,249.55
Other operating income EUR 827,602.18
Other operating expenses EUR 1,521,192.28
Operating result from continuing
operations EUR 6,478,203.33
Interest result (+/-) EUR -1,933,310.88
Interest and similar income EUR 31,348.51
Interest and similar expenses EUR 1,964,659.39
thereof paid to related companies EUR 230,050.24
Financial result (+/-) EUR -1,933,310.88
Result from ordinary operations (+/-) EUR
4,544,892.45
Expenses for transfer of profits to a
parent company EUR 2,703,455.27
Income tax / refund of income tax
(+/-)EUR -1,841,437.18
Tax (+/-) EUR -1,841,437.18
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 97,335,610.59
Fixed assets EUR 20,835,154.40
Intangible assets EUR 1,579,368.27
Concessions, licences, rights EUR 957,449.81
Advance payments for intang. assets EUR
621,918.46
Tangible assets EUR
19,255,786.13
Land / similar rights EUR 11,947,342.09
Plant / machinery EUR 3,587,338.18
Other tangible assets / fixtures and
fittings EUR 3,672,832.46
Advance payments made / construction
in progress EUR 48,273.40
Current assets EUR 76,209,158.86
Stocks EUR 40,683,114.09
Raw materials, consumables and
supplies EUR 8,499,732.39
Finished goods / work in progress EUR
49,803,286.01
Advance payments made EUR 1,037,832.25
Minus received advance payments for
orders / installments for stocks EUR
-18,657,736.56
Accounts receivable EUR 34,032,877.39
Trade debtors EUR 23,237,063.18
Amounts due from related companies EUR
10,091,861.45
Other debtors and assets EUR 703,952.76
Liquid means EUR 1,493,167.38
Remaining other assets EUR 291,297.33
Accruals (assets) EUR 291,297.33
LIABILITIES EUR 97,335,610.59
Shareholders' equity EUR 32,055,543.44
Capital EUR 3,604,607.76
Subscribed capital (share capital) EUR
3,604,607.76
Reserves EUR 28,450,744.70
Capital reserves EUR 28,450,744.70
Balance sheet profit/loss (+/-) EUR 190.98
Profit / loss brought forward EUR 190.98
Provisions EUR 48,441,886.01
Pension provisions and comparable
provisions EUR 26,805,408.00
Provisions for taxes EUR 1,069,041.53
Other / unspecified provisions EUR 20,567,436.48
Liabilities EUR 14,161,829.29
Other liabilities EUR 14,161,829.29
Trade creditors (for IAS incl. bills
of exchange) EUR 7,049,459.54
Liabililties due to related
companiesEUR 4,936,082.00
Unspecified other liabilities EUR 2,176,287.75
Other liabilities EUR 2,676,351.85
Deferrals (liabilities) EUR 1,568,688.32
Deferred taxes (not included under
provisions/liabilities) EUR 1,107,663.53
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 127,679,973.11
Manufacturing costs EUR 103,315,570.01
Gross result on sales EUR 24,364,403.10
Distribution costs EUR
15,505,583.78
General administration expenses EUR 9,053,999.37
Research and development costs EUR 5,035,744.91
Other operating income EUR 3,070,200.25
Other operating expenses EUR 6,770,084.58
Operating result from continuing
operations EUR -8,930,809.29
Interest result (+/-) EUR -1,939,457.47
Interest and similar income EUR 116,306.96
thereof from related companies EUR 65,703.97
Interest and similar expenses EUR 2,055,764.43
thereof paid to related companies EUR 95,906.02
Financial result (+/-) EUR -1,939,457.47
Result from ordinary operations (+/-) EUR
-10,870,266.76
Income from assumption of loss by
parent company EUR 13,289,291.27
Income tax / refund of income tax
(+/-)EUR -2,419,024.51
Tax (+/-) EUR -2,419,024.51
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.39 |
|
|
1 |
INR 91.44 |
|
Euro |
1 |
INR 80.04 |
|
Euro |
1 |
INR 79.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
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Report Prepared
by : |
KET |
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.