MIRA INFORM REPORT

 

 

Report Date :

11.07.2011

 

IDENTIFICATION DETAILS

 

Name :

KORSCH AKTIENGESELLSCHAFT

 

 

Registered Office :

Breitenbachstr. 1-6 D 13509 Berlin

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

02.07.1998

 

 

Com. Reg. No.:

HRB 68159 B

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacture of other special-purpose machinery

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

250,000 EUR

Status :

Moderate

Payment Behaviour :

Regular

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Name and address

 

Korsch Aktiengesellschaft

 

 Company Status:      active

 

Main address:

Breitenbachstr. 1-6

D 13509 Berlin

Post Box:

27 04 34, D 13474 Berlin

Telephone:030/435760

Telefax:  030/43576350

Homepage: www.korsch.de

E-mail:   berlin@korsch.de

 

 

VAT no.        

 

DE159338554

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Registration data

 

 LEGAL FORM              Public limited company

 Date of foundation:        02.07.1998

 Registered on:              22.09.1998

 Commercial Register:    Local court 14057 Berlin

 under:                          HRB 68159 B

 

 

Share capital                         

 

EUR          3,000,000.00

 

 

Shareholder

 

Eckard Strohscheer

Pfadfinderweg 29

D 13465 Berlin

born: 19.07.1933

Share:                              11.900 %

 

Shareholder:

Bettina Strohscheer-Mies

Mühlenfeldstr. 90

D 13467 Berlin

born: 13.05.1966

née: Strohscheer

Share:                              19.600 %

 

Shareholder:

Anke Strohscheer

Im Park 3

D 16567 Schönfließ

born: 09.02.1966

Share:                              19.600 %

 

Shareholder:

Stephan Mies

Mühlenfeldstr. 90

D 13467 Berlin

born: 13.10.1961

Share:                              19.600 %

 

Shareholder:

Christiane Strohscheer

Pfadfinderweg 29

D 13465 Berlin

Share:                              19.600 %

 

Shareholder:

Frederic J. Murray

D 13509 Berlin

Share:                               3.100 %

 

Shareholder:

Georg Andreas Bössenrodt

D 13509 Berlin

Share:                               3.300 %

 

Shareholder:

Walter Hegel

D 13509 Berlin

Share:                               3.300 %

President of the Board of Directors

 

Stephan Mies

Mühlenfeldstr. 90

D 13467 Berlin

having sole power of representation

born: 13.10.1961

Profession: graduate engineer

Marital status: married

 

President of the Supervisory Board:

Eckard Strohscheer

Pfadfinderweg 29

D 13465 Berlin

born: 19.07.1933

Marital status: married

 

Member of the Supervisory Board:

Bettina Strohscheer-Mies

Mühlenfeldstr. 90

D 13467 Berlin

born: 13.05.1966

née: Strohscheer

Profession: Businessman

Marital status: married

 

Member of the Supervisory Board:

Anke Strohscheer

Im Park 3

D 16567 Schönfließ

born: 09.02.1966

Profession: Fully qualified agri. engineer

Marital status: married

 

 

COMPANY HISTORY

 

 29.07.1993 - 21.09.1998  Korsch Pressen GmbH

                          Breitenbachstr. 1

                          D 13509 Berlin

                          Private limited company

 22.09.1998 - 29.07.2001  Korsch Pressen Aktiengesellschaft

                          Breitenbachstr. 1

                          D 13509 Berlin

                          Public limited company

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 28990   Manufacture of other special-purpose machinery n.e.c.

 

 Secondary industrial sector

 28290   Manufacture of other general-purpose machinery

46692   Wholesale of other machinery

 

 

FINANCIAL INFORMATION

 

  Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 Maximum credit:      250,000 EUR

 

 Balance sheet year:  2009

 

 

REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Breitenbachstr. 1-6

                      D 13509 Berlin

 

 Real Estate of:      Stephan Mies

 Type of ownership:   Tenant

 Address              Mühlenfeldstr. 90

                      D 13467 Berlin

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 COMMERZBANK BERLIN OST, BERLIN

 Sort. code: 12040000, BIC: COBADEBB120

 

 Further banks

 HSH NORDBANK HAMBURG, KIEL, KIEL

 Sort. code: 21050000, BIC: HSHNDEHHXXX

 COMMERZBANK BERLIN (WEST), BERLIN

 Sort. code: 10040000, BIC: COBADEBBXXX

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2009               EUR         12,831,123.00

                      2010               EUR         17,200,000.00

 Profit:              2009               EUR           -560,058.00

 further business figures:

 Employees:                                                    170

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 24.59

 Liquidity ratio:                   0.72

 Return on total capital [%]:      -2.38

 Balance sheet grade:                3.5

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 49.85

 Liquidity ratio:                   1.00

 Return on total capital [%]:       1.05

 Balance sheet grade:                2.5

 

 Balance sheet ratios 01.01.2007 - 31.12.2007

 Equity ratio [%]:                 55.54

 Liquidity ratio:                   1.03

 Return on total capital [%]:       2.89

 Balance sheet grade:                2.1

 

 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 ranges

 from 1.0 (positive) to 5.0 (negative).

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2009 - 31.12.2009

 

 ASSETS                                  EUR         23,680,315.11

  Fixed assets                           EUR          2,789,918.31

   Intangible assets                     EUR            250,402.86

    Other / unspecified intangible assetsEUR            250,402.86

   Tangible assets                       EUR          1,301,598.87

    Other / unspecified tangible assets  EUR          1,301,598.87

   Financial assets                      EUR          1,237,916.58

    Other / unspecified financial assets EUR          1,237,916.58

  Current assets                         EUR         20,856,991.14

   Stocks                                EUR          8,670,317.42

   Accounts receivable                   EUR         12,171,398.44

    Other debtors and assets             EUR         12,171,398.44

   Liquid means                          EUR             15,275.28

  Remaining other assets                 EUR             33,405.66

   Accruals (assets)                     EUR             33,405.66

 

 LIABILITIES                             EUR         23,680,315.11

  Shareholders' equity                   EUR          5,916,273.21

   Capital                               EUR          3,000,000.00

    Subscribed capital (share capital)   EUR          3,000,000.00

   Reserves                              EUR          3,018,921.44

    Capital reserves                     EUR            864,000.00

    Retained earnings / revenue reserves EUR          2,154,921.44

   Balance sheet profit/loss (+/-)       EUR           -102,648.23

    Balance sheet profit / loss          EUR           -102,648.23

  Items between shareholders' equity and

  debt capital                           EUR            103,857.88

   Allowances / bonuses                  EUR            103,857.88

  Provisions                             EUR            630,408.00

   Other / unspecified provisions        EUR            630,408.00

  Liabilities                            EUR         17,029,776.02

   Other liabilities                     EUR         17,029,776.02

    Unspecified other liabilities        EUR         17,029,776.02

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         12,831,122.67

  Staff expenses                         EUR          7,637,864.68

   Wages and salaries                    EUR          6,269,556.02

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,368,308.66

  Total depreciation                     EUR            481,730.94

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            481,730.94

  Other operating expenses               EUR          4,730,514.99

  Operating result from continuing

  operations                             EUR            -18,987.94

  Interest result (+/-)                  EUR           -593,086.73

   Interest and similar income           EUR             76,922.89

    thereof from related companies       EUR             64,437.24

   Interest and similar expenses         EUR            670,009.62

  Other financial result                 EUR            -23,053.15

   Depreciation on financial assets and

   marketable securities                 EUR             23,053.15

  Financial result (+/-)                 EUR           -616,139.88

  Result from ordinary operations (+/-)  EUR           -635,127.82

  Income tax / refund of income tax (+/-)EUR             76,586.00

  Other taxes / refund of taxes          EUR             -1,515.90

  Tax (+/-)                              EUR             75,070.10

  Annual surplus / annual deficit        EUR           -560,057.72

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2008 - 31.12.2008

 

 ASSETS                                  EUR         22,977,200.85

  Fixed assets                           EUR          3,778,497.45

   Intangible assets                     EUR            325,486.30

    Other / unspecified intangible assetsEUR            325,486.30

   Tangible assets                       EUR          1,694,595.89

    Other / unspecified tangible assets  EUR          1,694,595.89

   Financial assets                      EUR          1,758,415.26

    Other / unspecified financial assets EUR          1,758,415.26

  Current assets                         EUR         19,114,075.50

   Stocks                                EUR          8,667,161.98

   Accounts receivable                   EUR         10,438,813.55

    Other debtors and assets             EUR         10,438,813.55

   Liquid means                          EUR              8,099.97

  Remaining other assets                 EUR             84,627.90

   Accruals (assets)                     EUR             84,627.90

 

 LIABILITIES                             EUR         22,977,200.85

  Shareholders' equity                   EUR          6,476,330.93

   Capital                               EUR          3,000,000.00

    Subscribed capital (share capital)   EUR          3,000,000.00

   Reserves                              EUR          3,018,921.44

    Capital reserves                     EUR            864,000.00

    Retained earnings / revenue reserves EUR          2,154,921.44

   Balance sheet profit/loss (+/-)       EUR            457,409.49

    Balance sheet profit / loss          EUR            457,409.49

  Items between shareholders' equity and

  debt capital                           EUR            133,171.13

   Allowances / bonuses                  EUR            133,171.13

  Provisions                             EUR            902,677.57

   Other / unspecified provisions        EUR            902,677.57

  Liabilities                            EUR         15,465,021.22

   Other liabilities                     EUR         15,465,021.22

    Unspecified other liabilities        EUR         15,465,021.22

  Guarantees and other commitments       EUR            428,400.00

   Guarantees / warranties               EUR            428,400.00

    Guarantees                           EUR            428,400.00

 

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

 Code (HGB)

  Gross result (+/-)                     EUR         17,172,180.66

  Staff expenses                         EUR          9,461,239.94

   Wages and salaries                    EUR          7,891,110.88

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,570,129.06

  Total depreciation                     EUR            612,244.16

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            612,244.16

  Other operating expenses               EUR          5,942,691.03

  Operating result from continuing

  operations                             EUR          1,156,005.53

  Interest result (+/-)                  EUR           -634,985.35

   Interest and similar income           EUR            105,573.01

    thereof from related companies       EUR             96,980.50

   Interest and similar expenses         EUR            740,558.36

  Financial result (+/-)                 EUR           -634,985.35

  Result from ordinary operations (+/-)  EUR            521,020.18

  Income tax / refund of income tax (+/-)EUR           -278,748.02

  Other taxes / refund of taxes          EUR             -2,321.10

  Tax (+/-)                              EUR           -281,069.12

  Annual surplus / annual deficit        EUR            239,951.06

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.70.74

Euro

1

Rs.63.64

 

 

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.