MIRA INFORM REPORT

 

 

Report Date :           

01.12.2011

 

IDENTIFICATION DETAILS

 

Name :

H&M HENNES & MAURITZ LOGISTIK AB & CO. KG

 

 

Registered Office :

Rungedamm 38, D 21035 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

30.11.2009

 

 

Date of Incorporation :

10.05.2007

 

 

Com. Reg. No.:

HRA 105932

 

 

Legal Form :

Ltd partnership w.foreign priv.ltd.comp. as General Partner

 

 

Line of Business :

Manufacture of women's and girls' outerwear

 

 

No. of Employees :

1037 Persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Germany

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

H&M Hennes & Mauritz Logistik AB & Co. KG

 

 

Main address:

Rungedamm 38

D 21035 Hamburg

Telephone:        040/781110

Telefax:             040/787674

Homepage:        www.hm.com

E-mail:              info@hm.com

 

 

CONCLUSION

 

We cannot give an opinion as to the granting of a credit in this particular case. Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Ltd partnership w.foreign priv.ltd.comp. as General Partner

Date of foundation:         10.05.2007

Registered on:               10.05.2007

Register of

companies:                   Local court 20355 Hamburg

under:                                       HRA 105932

Total cap. contribution:   EUR            500,000.00

 

 

Limited partner

 

H & M Hennes & Mauritz Holding B.V.

Venestraat 36

NL 2511 AS S-Gravenhage

Legal form: Other legal form

Share:             EUR            500,000.00

 

 

General partner

 

H & M Hennes & Mauritz GBC AB

Mäster Samuelsgatan 46a

S 10638 Stockholm

Legal form: Other legal form

 

 

Proxy

 

Martin Schinko

D 21035 Hamburg

authorized to jointly represent the company

born: 28.02.1972

 

Proxy:

Rosa Maria Cambiazo Fernandez

D 21035 Hamburg

authorized to jointly represent the company

born: 09.12.1967

 

Further functions/participations of H & M Hennes & Mauritz GBC AB (General partner)

 

General partner:

                      H & M Hennes & Mauritz online Shop AB & Co.

                      KG

                      Spitalerstr. 12

                      D 20095 Hamburg

                      Legal form: Ltd partnership w.foreign

                                  priv.ltd.comp. as General

                                  Partner

                      Total cap.         EUR            100,000.00

                      contribution:

                      Registered

                      on:         09.07.2008

                      Reg. data:  20355 Hamburg, HRA 108647

 

 

COMPANY HISTORY

 

10.05.2007 - 25.06.2007  H&M Hennes & Mauritz Logistik GmbH & Co.

                          KG

                          Hermannstr. 40

                          D 20095 Hamburg

                          Ltd partnership with priv. ltd. company

                          as general partner

 26.06.2007 - 08.2009     H&M Hennes & Mauritz Logistik GmbH & Co.

                          KG

                          Andreas-Meyer-Str. 45-47

                          D 22113 Hamburg

                          Ltd partnership with priv. ltd. company

                          as general partner

 09.2009 - 12.10.2009     H&M Hennes & Mauritz Logistik GmbH & Co.

                          KG

                          Rungedamm 38

                          D 21035 Hamburg

                          Ltd partnership with priv. ltd. company

                          as general partner

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

General partner

H&M Hennes & Mauritz Logistics GBC GmbH

D 20095 Hamburg

 

 

BUSINESS ACTIVITIES

 

Sectors

14132   Manufacture of women's and girls' outerwear

47710   Retail sale of clothing

 

 

FINANCIAL INFORMATION

 

Payment experience:     within periods customary in this trade

 

 Negative information:     We have no negative information at hand.

 

 Balance sheet year:      2008/2009

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Rungedamm 38

                                    D 21035 Hamburg

 

Land register documents were not available.

 

 

BANKERS

 

DEUTSCHE BANK, HAMBURG

Sort. code: 20070000, BIC: DEUTDEHHXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2008/2009          EUR        102,107,211.00

                      2009/2010          EUR        105,000,000.00

 further business figures:

 Equipment:                              EUR         32,951,983.00

 Ac/ts receivable:                       EUR         24,863,031.00

 Liabillities:                           EUR         52,978,611.00

 Employees:                                                  1,037

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.12.2008 - 30.11.2009

 Equity ratio [%]:                -50.44

 Return on total capital [%]:       8.43

 

 Balance sheet ratios 01.12.2007 - 30.11.2008

 Equity ratio [%]:                  7.89

 Liquidity ratio:                   0.61

 Return on total capital [%]:       5.26

 

 Balance sheet ratios 01.06.2007 - 30.11.2007

 Equity ratio [%]:                  8.88

 Liquidity ratio:                   0.98

 Return on total capital [%]:       6.61

 

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.

 

Balance sheet grade

The balance sheet grade is based on the following ratios: equity ratio, liquidity ratio and return on total capital from the balance sheets published in the Federal Gazette. It is calculated in accordance with the methodology of Euler Hermes. It range from 1.0 (positive) to 5.0 (negative).

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.12.2008 - 30.11.2009

 

 ASSETS                                  EUR         59,379,654.77

  Fixed assets                           EUR         33,025,383.37

   Intangible assets                     EUR             73,399.44

    Concessions, licences, rights        EUR             73,399.44

   Tangible assets                       EUR         32,951,983.93

    Other tangible assets / fixtures and

    fittings                             EUR         32,951,983.93

  Current assets                         EUR         26,056,128.67

   Accounts receivable                   EUR         24,863,031.11

    Amounts due from related companies   EUR         24,776,872.20

    Other debtors and assets             EUR             86,158.91

   Liquid means                          EUR          1,193,097.56

  Remaining other assets                 EUR            298,142.73

   Accruals (assets)                     EUR            298,142.73

 

 LIABILITIES                             EUR         59,379,654.77

  Shareholders' equity                   EUR            500,000.00

   Capital                               EUR            500,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR            500,000.00

  Provisions                             EUR          5,901,042.79

   Pension provisions and comparable

   provisions                            EUR            216,298.00

   Provisions for taxes                  EUR            351,027.44

   Other / unspecified provisions        EUR          5,333,717.35

  Liabilities                            EUR         52,978,611.98

   Other liabilities                     EUR         52,978,611.98

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          8,310,637.47

    Liabililties due to related companiesEUR         41,037,342.69

    Unspecified other liabilities        EUR          3,630,631.82

 

 Profit and loss account (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        102,107,217.89

  Other operating income                 EUR          1,632,938.38

  Gross result (+/-)                     EUR        103,740,156.27

  Staff expenses                         EUR         37,651,582.31

   Wages and salaries                    EUR         31,469,289.94

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          6,182,292.37

  Total depreciation                     EUR          3,777,601.37

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          3,777,601.37

  Other operating expenses               EUR         57,762,570.55

  Operating result from continuing

  operations                             EUR          4,548,402.04

  Interest result (+/-)                  EUR           -796,285.89

   Interest and similar income           EUR             41,083.24

   Interest and similar expenses         EUR            837,369.13

  Financial result (+/-)                 EUR           -796,285.89

  Result from ordinary operations (+/-)  EUR          3,752,116.15

  Income tax / refund of income tax (+/-)EUR           -827,000.00

  Other taxes / refund of taxes          EUR             -9,829.39

  Tax (+/-)                              EUR           -836,829.39

  Annual surplus / annual deficit        EUR          2,915,286.76

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.12.2007 - 30.11.2008

 

 ASSETS                                  EUR         56,707,663.74

  Fixed assets                           EUR         30,951,764.60

   Tangible assets                       EUR         30,951,764.60

    Other tangible assets / fixtures and

    fittings                             EUR         23,432,727.00

    Advance payments made / construction

    in progress                          EUR          7,519,037.60

  Current assets                         EUR         25,403,192.64

   Accounts receivable                   EUR         23,197,030.05

    Amounts due from related companies   EUR         23,037,998.50

    Other debtors and assets             EUR            159,031.55

   Liquid means                          EUR          2,206,162.59

  Remaining other assets                 EUR            352,706.50

   Accruals (assets)                     EUR            352,706.50

 

 LIABILITIES                             EUR         56,707,663.74

  Shareholders' equity                   EUR            500,000.00

   Capital                               EUR            500,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR            500,000.00

  Provisions                             EUR         12,244,491.21

   Provisions for taxes                  EUR            120,051.21

   Other / unspecified provisions        EUR         12,124,440.00

  Liabilities                            EUR         43,963,172.53

   Other liabilities                     EUR         43,963,172.53

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          2,178,460.75

    Liabililties due to related companiesEUR         38,621,588.72

    Unspecified other liabilities        EUR          3,163,123.06

 

 Profit and loss account (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        106,888,796.64

  Other operating income                 EUR            893,066.87

  Gross result (+/-)                     EUR        107,781,863.51

  Staff expenses                         EUR         33,846,359.33

   Wages and salaries                    EUR         28,219,000.78

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          5,627,358.55

  Total depreciation                     EUR          5,226,226.53

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          5,226,226.53

  Other operating expenses               EUR         63,865,173.98

  Operating result from continuing

  operations                             EUR          4,844,103.67

  Interest result (+/-)                  EUR         -1,063,765.05

   Interest and similar income           EUR            173,102.58

   Interest and similar expenses         EUR          1,236,867.63

  Financial result (+/-)                 EUR         -1,063,765.05

  Result from ordinary operations (+/-)  EUR          3,780,338.62

  Income tax / refund of income tax (+/-)EUR           -794,000.00

  Other taxes / refund of taxes          EUR             -2,602.51

  Tax (+/-)                              EUR           -796,602.51

  Annual surplus / annual deficit        EUR          2,983,736.11

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.17

UK Pound

1

Rs.81.29

Euro

1

Rs.69.47

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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 and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.