MIRA INFORM REPORT

 

 

Report Date :           

23.11.2011

 

 

IDENTIFICATION DETAILS

 

Name :

INEOS VINYLS SALES GMBH

 

 

Registered Office :

Inhausersieler Str. 25, D 26388 Wilhelmshaven

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

11.10.2005

 

 

Com. Reg. No.:

HRB 131775     

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of chemical products

 

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 :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 

 

INEOS Vinyls Sales GmbH

 

Main address:

Inhausersieler Str. 25

D 26388 Wilhelmshaven

Telephone:        04421/9801

Telefax:             04421/982217

Homepage:        www.ineosvinyls.com

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Registered on:               11.10.2005

Commercial Register:     Local court 26135 Oldenburg

under:                                       HRB 131775

Share capital:                 EUR             26,000.00

 

 

Shareholder

 

INEOS Vinyls Deutschland GmbH

Inhausersieler Str. 25

D 26388 Wilhelmshaven

Legal form: Private limited company

Share capital:     EUR         36,501,150.00

Share:             EUR             26,000.00

Registered on: 06.03.1996

Reg. data: 26135 Oldenburg, HRB 130417

Profit transfer agreement

 

 

Manager

 

Gerold Jelschen

Usedomstr. 15

D 26215 Wiefelstede

born: 09.01.1952

Marital status: married

 

 

Proxy

 

Klaus Gohla

Habichtstr. 7

D 26419 Schortens

authorized to jointly represent the company

born: 08.09.1959

 

 

COMPANY HISTORY

 

29.06.2005 - 11.10.2005  SCHE 05 Verwaltungsgesellschaft mbH

                          Keplerstr. 10

                          D 70174 Stuttgart

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

Sectors

 46750   Wholesale of chemical products

 

 

FINANCIAL INFORMATION

 

Payment experience:     within periods customary in this trade

 

Negative information:      We have no negative information at hand.

 

Maximum credit:            250,000 EUR

 

Balance sheet year:       2010

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Inhausersieler Str. 25

                                    D 26388 Wilhelmshaven

 

Land register documents were not available.

 

BANKERS

 

DEUTSCHE BANK, OLDENBURG (OLDB)

Sort. code: 28070057, BIC: DEUTDEHB280

 

 

FINANCIAL FIGURES

 

 Turnover:            2009               EUR        332,808,091.00

                      2010               EUR        459,599,038.00

 Profit:              2009               EUR            606,630.00

                      2010               EUR          1,602,492.00

 further business figures:

 Ac/ts receivable:                       EUR         25,527,543.00

 Liabillities:                           EUR         21,394,426.00

 Employees:                                                     29

 

Profit transfer agreement to:

INEOS Vinyls Deutschland GmbH

Inhausersieler Str. 25

D 26388 Wilhelmshaven

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                  2.27

 Liquidity ratio:                   1.23

 Return on total capital [%]:       7.10

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                  0.90

 Liquidity ratio:                   1.09

 Return on total capital [%]:       0.91

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                  1.36

 Liquidity ratio:                   1.29

 Return on total capital [%]:       7.84

 

 Balance sheet ratios 01.01.2007 - 31.12.2007

 Equity ratio [%]:                  1.64

 Liquidity ratio:                   1.40

 Return on total capital [%]:      -4.38

 

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.

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         26,427,910.42

  Fixed assets                           EUR              5,166.29

   Financial assets                      EUR              5,166.29

    Other loans                          EUR              5,166.29

  Current assets                         EUR         26,422,744.13

   Stocks                                EUR            187,658.37

    Finished goods / work in progress    EUR            187,658.37

   Accounts receivable                   EUR         25,527,543.29

    Trade debtors                        EUR          1,607,880.30

    Amounts due from related companies   EUR          9,138,751.90

    Other debtors and assets             EUR         14,780,911.09

   Liquid means                          EUR            707,542.47

 

 LIABILITIES                             EUR         26,427,910.42

  Shareholders' equity                   EUR            599,887.24

   Capital                               EUR             26,000.00

    Subscribed capital (share capital)   EUR             26,000.00

   Reserves                              EUR            573,887.24

    Capital reserves                     EUR            573,887.24

  Provisions                             EUR          4,433,596.99

   Pension provisions and comparable

   provisions                            EUR            665,096.99

   Other / unspecified provisions        EUR          3,768,500.00

  Liabilities                            EUR         21,394,426.19

   Other liabilities                     EUR         21,394,426.19

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          2,243,932.19

    Liabililties due to related companiesEUR         16,230,811.33

    Unspecified other liabilities        EUR          2,919,682.67

     thereof liabilities from tax /

     financial authorities               EUR             31,116.99

 

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

 Code (HGB)

  Sales                                  EUR        459,599,038.42

  Other operating income                 EUR          4,719,731.05

  Cost of materials                      EUR        435,287,227.50

   Raw materials and supplies, purchased

   goods                                 EUR        435,287,227.50

  Gross result (+/-)                     EUR         29,031,541.97

  Staff expenses                         EUR          2,075,740.86

   Wages and salaries                    EUR          1,669,218.72

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            406,522.14

  Other operating expenses               EUR         26,006,036.66

  Operating result from continuing

  operations                             EUR            949,764.45

  Interest result (+/-)                  EUR            923,908.55

   Interest and similar income           EUR            962,827.89

    thereof from related companies       EUR            960,803.45

   Interest and similar expenses         EUR             38,919.34

    thereof paid to related companies    EUR                  0.00

  Financial result (+/-)                 EUR            923,908.55

  Result from ordinary operations (+/-)  EUR          1,873,673.00

  Extraordinary expenses                 EUR            273,103.00

  Extraordinary result (+/-)             EUR           -273,103.00

  Expenses for transfer of profits to a

  parent company                         EUR          1,602,491.97

  Income tax / refund of income tax (+/-)EUR              1,921.97

  Tax (+/-)                              EUR              1,921.97

  Annual surplus / annual deficit        EUR                  0.00

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2009 - 31.12.2009

 

 ASSETS                                  EUR         66,760,506.39

  Fixed assets                           EUR              7,743.50

   Financial assets                      EUR              7,743.50

    Other loans                          EUR              7,743.50

  Current assets                         EUR         66,752,762.89

   Stocks                                EUR            227,767.11

    Finished goods / work in progress    EUR            227,767.11

   Accounts receivable                   EUR         63,316,365.37

    Trade debtors                        EUR          1,851,182.57

    Amounts due from related companies   EUR         29,304,885.34

    Other debtors and assets             EUR         32,160,297.46

   Liquid means                          EUR          3,208,630.41

 

 LIABILITIES                             EUR         66,760,506.39

  Shareholders' equity                   EUR            599,887.24

   Capital                               EUR             26,000.00

    Subscribed capital (share capital)   EUR             26,000.00

   Reserves                              EUR            573,887.24

    Capital reserves                     EUR            573,887.24

  Provisions                             EUR          4,835,026.64

   Pension provisions and comparable

   provisions                            EUR            316,626.64

   Other / unspecified provisions        EUR          4,518,400.00

  Liabilities                            EUR         61,325,592.51

   Other liabilities                     EUR         61,325,592.51

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          1,214,006.24

    Liabililties due to related companiesEUR         59,451,016.49

    Unspecified other liabilities        EUR            660,569.78

     thereof liabilities from tax /

     financial authorities               EUR             23,845.85

 

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

 Code (HGB)

  Sales                                  EUR        332,808,090.76

  Other operating income                 EUR          3,635,160.02

  Cost of materials                      EUR        311,831,716.39

   Raw materials and supplies, purchased

   goods                                 EUR        311,831,716.39

  Gross result (+/-)                     EUR         24,611,534.39

  Staff expenses                         EUR          1,731,744.15

   Wages and salaries                    EUR          1,424,106.58

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            307,637.57

  Other operating expenses               EUR         22,303,105.76

  Operating result from continuing

  operations                             EUR            576,684.48

  Interest result (+/-)                  EUR             29,945.03

   Interest and similar income           EUR             46,254.45

    thereof from related companies       EUR              3,218.88

   Interest and similar expenses         EUR             16,309.42

    thereof paid to related companies    EUR             13,646.66

  Financial result (+/-)                 EUR             29,945.03

  Result from ordinary operations (+/-)  EUR            606,629.51

  Expenses for transfer of profits to a

  parent company                         EUR            606,629.51

  Annual surplus / annual deficit        EUR                  0.00

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2008 - 31.12.2008

 

ASSETS                                  EUR         44,127,883.81

 Fixed assets                           EUR             10,437.50

  Financial assets                      EUR             10,437.50

   Other loans                          EUR             10,437.50

 Current assets                         EUR         44,117,446.31

  Stocks                                EUR            116,393.54

   Finished goods / work in progress    EUR            116,393.54

  Accounts receivable                   EUR         37,832,802.15

   Trade debtors                        EUR            204,322.90

   Amounts due from related companies   EUR          3,544,486.52

   Other debtors and assets             EUR         34,083,992.73

  Liquid means                          EUR          6,168,250.62

 

LIABILITIES                             EUR         44,127,883.81

 Shareholders' equity                   EUR            599,887.24

  Capital                               EUR             26,000.00

   Subscribed capital (share capital)   EUR             26,000.00

  Reserves                              EUR            573,887.24

   Capital reserves                     EUR            573,887.24

 Provisions                             EUR          8,088,086.78

  Pension provisions and comparable

  provisions                            EUR            298,186.78

  Other / unspecified provisions        EUR          7,789,900.00

 Liabilities                            EUR         35,439,909.79

  Other liabilities                     EUR         35,439,909.79

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          1,887,907.49

   Liabililties due to related companies EUR         33,226,518.86

   Unspecified other liabilities        EUR            325,483.44

    thereof liabilities from tax /

    financial authorities               EUR             25,343.35

 

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

Code (HGB)

 Sales                                  EUR        469,312,704.18

 Other operating income                 EUR          5,001,299.97

 Cost of materials                      EUR        445,070,445.53

  Raw materials and supplies, purchased

  goods                                 EUR        445,070,445.53

 Gross result (+/-)                     EUR         29,243,558.62

 Staff expenses                         EUR          1,693,116.48

  Wages and salaries                    EUR          1,416,373.54

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR            276,742.94

 Other operating expenses               EUR         24,386,991.99

 Operating result from continuing

 operations                             EUR          3,163,450.15

 Interest result (+/-)                  EUR            297,445.77

  Interest and similar income           EUR            342,303.83

   thereof from related companies       EUR            210,725.90

  Interest and similar expenses         EUR             44,858.06

   thereof paid to related companies    EUR             37,978.15

 Financial result (+/-)                 EUR            297,445.77

 Result from ordinary operations (+/-)  EUR          3,460,895.92

 Expenses for transfer of profits to a

 parent company                         EUR          3,460,587.95

 Other taxes / refund of taxes          EUR               -307.97

 Tax (+/-)                              EUR               -307.97

 Annual surplus / annual deficit        EUR                  0.00

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.70

UK Pound

1

Rs.82.44

Euro

1

Rs.71.08

 

 

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.