MIRA INFORM
REPORT
|
Report Date : |
26.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ESPRIT EUROPE SERVICES GMBH |
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|
|
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Registered Office : |
Esprit-Allee 1, D
40882 Ratingen |
|
|
|
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Country : |
Germany |
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|
|
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Financials (as on) : |
30.06.2009 |
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|
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Date of Incorporation : |
03.01.1996 |
|
|
|
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Com. Reg. No.: |
HRB 32901 |
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Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Other business support service activities |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
250.000 EUR |
|
Status : |
Good |
|
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 – 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Esprit Europe
Services GmbH
Main address:
Esprit-Allee 1
D 40882 Ratingen
Telephone: 02102/1230
Telefax: 02102/12315100
Homepage: www.esprit.com
Synthesis
LEGAL FORM Private
limited company
Date of foundation: 1995
Shareholders'
agreement: 27.11.1995
Registered on: 03.01.1996
Commercial Register: Local court 40213 Düsseldorf
under: HRB
32901
Share capital: EUR 2.700.000,00
Shareholder
Esprit Europe GmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share capital: EUR
5.112.918,81
Share: EUR 2.700.000,00
Registered on:
17.11.1992
Reg. data: 40213
Düsseldorf, HRB 28967
Control and profit
transfer agreement
Manager
Ernst Peter Vogel
D 60311 Frankfurt
authorized to
jointly represent the company
born: 03.10.1964
Marital status:
unknown
Manager:
Wolbrand Teunis
Cornelis Van der Vis
NL Laren
born: 13.09.1967
Nationality: Dutch
Manager:
Tanya Todd
B Wezembeck Oppen
born: 04.07.1963
Nationality:
Belgian
Proxy
Julia Merkel
D 50667 Köln
authorized to
jointly represent the company
born: 17.10.1965
Profession:
Businessman
Further functions/participations of Ernst Peter Vogel (Manager)
Manager:
Esprit Europe GmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 5.112.918,81
Registered
on: 17.11.1992
Reg. data: 40213 Düsseldorf, HRB 28967
Manager:
Esprit Design
& Product Development GmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 100.000,00
Registered
on: 19.01.2007
Reg. data: 40213 Düsseldorf, HRB 55534
Manager:
Esprit Card
Services GmbH
Esprit-Allee
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Registered
on: 01.07.2005
Reg. data: 40213 Düsseldorf, HRB 52032
Manager:
Esprit Global
Image GmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Registered
on: 02.01.2003
Reg. data: 40213 Düsseldorf, HRB 47277
Manager:
Esprit Wholesale
GmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 5.000.000,00
Registered
on: 13.04.2000
Reg. data: 40213 Düsseldorf, HRB 38858
Manager:
Esprit Cares Trust
gGmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Registered
on: 11.04.2005
Reg. data: 40213 Düsseldorf, HRB 51581
Further functions/participations of Wolbrand Teunis Cornelis Van
der Vis (Manager)
Manager:
Esprit Europe GmbH
Esprit-Allee 1
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 5.112.918,81
Registered
on: 17.11.1992
Reg. data: 40213 Düsseldorf, HRB 28967
Manager:
Esprit Card
Services GmbH
Esprit-Allee
D 40882 Ratingen
Legal form:
Private limited company
Share
capital: EUR 25.000,00
Registered
on: 01.07.2005
Reg. data: 40213 Düsseldorf, HRB 52032
COMPANY HISTORY
20.09.2001 - 15.10.2003 Esprit Europe Services GmbH
Vogelsanger Weg 49
D 40470 Düsseldorf
Private limited
company
15.10.2003 - 17.01.2005 Esprit Europe Services GmbH
Esprit-Allee 1
D 40882 Ratingen
Private limited
company
17.01.2005 - 17.01.2005 Esprit Europe Services GmbH
Esprit-Allee 1
D 40882 Ratingen
Private limited company
18.01.2005 - 22.01.2007 Esprit Europe Trading & Product
Development GmbH
Esprit-Allee 1
D 40882 Ratingen
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
20.04.2009 - 08.02.2010 Manager
Lars Radoor Sorensen
D 40210 Düsseldorf
10.07.2006 - 19.08.2009 Manager
Thomas Grote
D 40210 Düsseldorf
11.04.2000 - 02.09.2008 Manager
John Poon Cho-Ming
HK Hong Kong
BUSINESS ACTIVITIES
Main industrial sector
8299
Other business support service activities n. e. c.
Secondary industrial sector
4616
Agents involved in the sale of textiles, apparel, footwear and
leatherware
4641
Wholesale of textiles
52299
Service activities incidental to transportation n.e.c.
FINANCIAL INFORMATION
Payment experience: takes advantage of cash discount
Negative information: We have no negative information at hand.
Maximum credit: 250.000
EUR
Balance sheet year: 2008/2009
REAL ESTATE
Type of ownership: Tenant
Address Esprit-Allee
1
D 40882 Ratingen
Land register documents were not available.
BANKERS
UNICREDIT BANK - HYPOVEREINSBANK NDL 645 M,
ASCHHEIM
Sort. code: 70020001, BIC: HYVEDEM1092
COMMERZBANK VORMALS DRESDNER BANK, RATINGEN
Sort. code: 30080000, BIC: DRESDEFF300
DEUTSCHE BANK, RATINGEN
Sort. code: 30070010, BIC: DEUTDEDDXXX
HSBC TRINKAUS & BURKHARDT, DÜSSELDORF
Sort. code: 30030880, BIC: TUBDDEDDXXX
BHF-BANK, DÜSSELDORF
Sort. code: 30020500, BIC: BHFBDEFF300
UNICREDIT BANK - HYPOVEREINSBANK, DÜSSELDORF
Sort. code: 30220190, BIC: HYVEDEMM414
FINANCIAL FIGURES
Turnover:
2008/2009 EUR 1.835.650.859,00
Profit:
2008/2009 EUR 99.271.832,00
Equipment: EUR 94.751,00
Ac/ts receivable: EUR 75.598.614,00
Liabilities: EUR 154.812.260,00
Real estate of the firm: EUR 766,00
Employees:
194
- thereof permanent staff: 194
Control and profit transfer agreement to:
Esprit Europe GmbH
Esprit-Allee 1
D 40882 Ratingen
BALANCE SHEETS
Balance sheet ratios 2008/2009
Equity ratio [%]: 54,39
Liquidity ratio: 3,70
Return on total capital [%]: 13,92
Balance sheet ratios 2007/2008
Equity ratio [%]: 48,32
Liquidity ratio: 1,89
Return on total capital [%]: 18,70
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
Financial year:
01.07.2008 - 30.06.2009
ASSETS EUR 721.916.859,92
Fixed
assets EUR 3.411.214,84
Intangible
assets EUR 110.476,00
Concessions, licences, rights
EUR 110.476,00
Tangible
assets EUR 230.523,00
Other
tangible assets / fixtures and
fittings
EUR 230.523,00
Financial
assets EUR 3.070.215,84
Loans to
participations /
subsidiaries and the like
EUR 3.070.215,84
Loans to
related companies EUR 3.070.215,84
Current
assets EUR 718.470.929,00
Stocks EUR 134.843.397,33
Finished
goods / work in progress EUR 134.843.397,33
Accounts
receivable EUR 405.150.324,94
thereof
total due from shareholders EUR 8.506.370,00
Trade
debtors EUR 3.458.580,66
Amounts due
from related companies EUR 399.948.542,36
Other
debtors and assets EUR 1.743.201,92
Liquid
means EUR 178.477.206,73
Remaining
other assets EUR 34.716,08
Accruals
(assets) EUR 34.716,08
LIABILITIES EUR 721.916.859,92
Shareholders'
equity EUR 2.700.000,00
Capital EUR 2.700.000,00
Subscribed
capital (share capital) EUR 2.700.000,00
Provisions EUR 39.754.268,16
Provisions
for taxes EUR 1.031.198,12
Other /
unspecified provisions EUR 38.723.070,04
Liabilities EUR 679.462.591,76
thereof
total due to shareholders EUR 393.847.206,00
Other
liabilities EUR 679.462.591,76
Trade
creditors (for IAS incl. bills
of
exchange)
EUR 20.670.729,29
Liabililties due to related companiesEUR 656.939.689,81
Unspecified
other liabilities EUR 1.852.172,66
thereof
liabilities from tax /
financial
authorities EUR 1.398.751,00
thereof
liabilities from social
security
EUR 16.995,00
Profit and loss account (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 1.835.650.859,29
Other
operating income EUR 8.688.289,65
Cost of
materials EUR 1.545.360.131,22
Raw
materials and supplies, purchased
goods EUR 1.545.360.131,22
Gross result
(+/-) EUR 298.979.017,72
Staff
expenses EUR 10.315.083,89
Wages and
salaries EUR
8.708.375,98
Social
security contributions and
expenses for
pension plans and
benefits
EUR 1.606.707,91
Total
depreciation EUR 230.409,22
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 230.409,22
Other
operating expenses EUR 191.749.568,93
Operating
result from continuing
operations EUR
96.683.955,68
Interest
result (+/-) EUR 2.855.029,38
Interest and
similar income EUR 13.779.295,93
thereof
from related companies EUR 12.544.066,00
Interest and
similar expenses EUR 10.924.266,55
thereof
paid to related companies EUR 10.822.980,00
Other
financial result EUR -61.360,47
Depreciation
on financial assets and
marketable
securities EUR 61.360,47
Financial
result (+/-) EUR 2.793.668,91
Result from
ordinary operations (+/-) EUR 99.477.624,59
Expenses for
transfer of profits to a
parent
company EUR 99.271.832,46
Income tax /
refund of income tax (+/-)EUR
-204.991,13
Other taxes /
refund of taxes EUR -801,00
Tax
(+/-)
EUR -205.792,13
Annual
surplus / annual deficit EUR 0,00
Type of balance
sheet:
Company balance sheet
Financial year:
01.07.2007 - 30.06.2008
ASSETS EUR 685.293.752,41
Fixed
assets EUR 3.474.329,31
Intangible
assets EUR 93.907,00
Concessions, licences, rights
EUR 93.907,00
Tangible
assets EUR 248.846,00
Other
tangible assets / fixtures and
fittings EUR 248.846,00
Financial
assets EUR 3.131.576,31
Loans to
participations /
subsidiaries and the like
EUR 3.131.576,31
Loans to
related companies EUR 3.131.576,31
Current
assets EUR 681.804.874,80
Stocks EUR 130.490.737,54
Finished
goods / work in progress EUR 130.490.737,54
Accounts
receivable EUR 502.283.186,02
thereof
total due from shareholders EUR 3.079.913,00
Trade
debtors EUR 2.039.404,19
Amounts due
from related companies EUR 493.929.193,63
Other
debtors and assets EUR 6.314.588,20
Liquid
means EUR 49.030.951,24
Remaining
other assets EUR 14.548,30
Accruals
(assets) EUR 14.548,30
LIABILITIES EUR 685.293.752,41
Shareholders'
equity EUR 2.700.000,00
Capital EUR 2.700.000,00
Subscribed
capital (share capital) EUR 2.700.000,00
Provisions EUR 39.891.640,22
Provisions
for taxes EUR 817.183,23
Other /
unspecified provisions EUR 39.074.456,99
Liabilities EUR 642.702.112,19
thereof
total due to shareholders EUR 330.031.602,00
Other
liabilities EUR 642.702.112,19
Trade
creditors (for IAS incl. bills
of
exchange)
EUR 22.575.694,29
Liabililties due to related companiesEUR 618.545.259,26
Unspecified
other liabilities EUR 1.581.158,64
thereof
liabilities from tax /
financial
authorities EUR 1.454.995,00
thereof
liabilities from social
security EUR 22.031,00
Profit and loss account (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 2.020.934.590,90
Other
operating income EUR 4.049.285,82
Cost of
materials EUR 1.678.981.840,79
Raw
materials and supplies, purchased
goods EUR 1.678.981.840,79
Gross result
(+/-) EUR 346.002.035,93
Staff
expenses EUR 9.728.010,27
Wages and
salaries EUR 8.189.125,68
Social
security contributions and
expenses for
pension plans and
benefits
EUR 1.538.884,59
Total depreciation EUR 187.769,45
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 187.769,45
Other
operating expenses EUR 209.803.596,74
Operating
result from continuing
operations EUR 126.282.659,47
Interest
result (+/-) EUR 1.252.648,70
Interest and
similar income EUR 11.794.741,75
thereof from
related companies EUR 10.915.418,00
Interest and
similar expenses EUR 10.542.093,05
thereof
paid to related companies EUR 10.494.517,00
Other
financial result EUR -8.265,33
Depreciation
on financial assets and
marketable
securities EUR 8.265,33
Financial
result (+/-) EUR 1.244.383,37
Result from
ordinary operations (+/-) EUR 127.527.042,84
Expenses for
transfer of profits to a
parent
company EUR 127.535.796,06
Income tax /
refund of income tax (+/-)EUR
9.473,22
Other taxes /
refund of taxes EUR -720,00
Tax
(+/-) EUR 8.753,22
Annual surplus / annual deficit EUR 0,00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
UK Pound |
1 |
Rs.73.31 |
|
Euro |
1 |
Rs.63.70 |
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.