MIRA INFORM REPORT

 

 

Report Date :

11.08.2012

 

IDENTIFICATION DETAILS

 

Name :

KORSCH AG

 

 

Registered Office :

BreitenbachstraƟe 1-6, Berlin, 13509

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.07.1998

 

 

Com. Reg. No.:

68159B

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacturers and suppliers of tableting machines and periphery equipment in Germany

 

 

No. of Employees :

168

 

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 :

Slow

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

Korsch AG

BreitenbachstraƟe 1-6

Berlin, 13509

Germany

Tel:       +49 (0) 30 435760

Fax:      +49 (0) 30 43576350

Web:    www.korsch.com

           

 

Synthesis

 

Employees:                  168

Company Type:            Public Independent

Incorporation Date:         02-Jul-1998      

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               NA

Total Assets:                32.4

 

 

Business Description     

 

Founded in 1918, KORSCH AG is one of the leading manufacturers and suppliers of tableting machines and periphery equipment in Germany. The company offers electronic devices for automated machine regulation and data recording and analysing. It provides tablet testing devices, press tools and technical rotary presses. The company offers laboratory equipment for machine controlling and monitoring. It also provides data recording, control and testing devices for evaluating and analysing measuring data. The company offers interface projection and system calibration and validation services. It provides assistance in technical support and troubleshooting. The company also assists its clients with product maintenance and instrumentation. In addition, it provides products and services to the pharmaceutical and industrial sectors.

 

Industry             

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    2463 - Machine Tool and Parts Manufacturing

NACE 2002:      2951 - Manufacture of machinery for metallurgy

NAICS 2002:     333516 - Rolling Mill Machinery and Equipment Manufacturing

UK SIC 2003:    2951 - Manufacture of machinery for metallurgy

US SIC 1987:    3542 - Machine Tools, Metal Forming Types

 

           




Key Executives   

 

Name

Title

Eckard Strohscheer

Chairman of the board of directors

Stephan Mies

Member of the board

Anke Strohscheer

Member of the board of directors

Bettina Strohscheer-Mies

Member of the board of directors

 

Registered No.(DEU): 68159B

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

BreitenbachstraƟe 1-6

Berlin, 13509

Germany

Tel:       +49 (0) 30 435760

Fax:      +49 (0) 30 43576350

Web:    www.korsch.com

           

Sales EUR(mil):             NA

Assets EUR(mil):           24.2

Employees:                   168

Fiscal Year End:            31-Dec-2010

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         02-Jul-1998

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(DEU):     68159B

Chairman of the

board of directors:          Eckard Strohscheer

 

Industry Codes

 

ANZSIC 2006 Codes:

2299     -          Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

3339     -          Other Hardware Goods Wholesaling

3494     -          Other Electrical and Electronic Goods Wholesaling

2463     -          Machine Tool and Parts Manufacturing

 

NACE 2002 Codes:

5143     -          Wholesale of electrical household appliances and radio and television goods

2862     -          Manufacture of tools

2942     -          Manufacture of other metalworking machine tools

2951     -          Manufacture of machinery for metallurgy

5154     -          Wholesale of hardware, plumbing and heating equipment and supplies

 

NAICS 2002 Codes:

33351   -          Metalworking Machinery Manufacturing

332212  -          Hand and Edge Tool Manufacturing

4236     -          Electrical and Electronic Goods Merchant Wholesalers

333516  -          Rolling Mill Machinery and Equipment Manufacturing

4237     -          Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers

 

US SIC 1987:

507       -          Hardware, and Plumbing and Heating Equipment

3542     -          Machine Tools, Metal Forming Types

342       -          Cutlery, Handtools, and General Hardware

3549     -          Metalworking Machinery, Not Elsewhere Classified

5064     -          Electrical Appliances, Television and Radio Sets

 

UK SIC 2003:

2942     -          Manufacture of other metalworking machine tools

5154     -          Wholesale of hardware, plumbing and heating equipment and supplies

5143     -          Wholesale of electrical household appliances and radio and television goods

2862     -          Manufacture of tools

2951     -          Manufacture of machinery for metallurgy

 

Business Description

Founded in 1918, KORSCH AG is one of the leading manufacturers and suppliers of tableting machines and periphery equipment in Germany. The company offers electronic devices for automated machine regulation and data recording and analysing. It provides tablet testing devices, press tools and technical rotary presses. The company offers laboratory equipment for machine controlling and monitoring. It also provides data recording, control and testing devices for evaluating and analysing measuring data. The company offers interface projection and system calibration and validation services. It provides assistance in technical support and troubleshooting. The company also assists its clients with product maintenance and instrumentation. In addition, it provides products and services to the pharmaceutical and industrial sectors.

 

 

Financial Data

Financials in:

EUR(mil)

 

Assets:

24.2

Current Assets:

19.1

 

Total Liabilities:

24.2

 

Issued Capital:

3.0

 

Net Worth:

5.7

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

Key Corporate Relationships

Bank:

UniCredit Bank - HypoVereinsbank, Deutsche Bank Privat und GeschƤftskunden, Commerzbank Berlin (West)

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Eckard Strohscheer

 

Chairman of the board of directors

Chairman

 

Stephan Mies

 

Member of the board

Director/Board Member

 

Anke Strohscheer

 

Member of the board of directors

Director/Board Member

 

Bettina Strohscheer-Mies

 

Member of the board of directors

Director/Board Member

 

 

Board of Directors

 

Name

Title

Function

 

Eckard Strohscheer

 

Chairman of the board of directors

Chairman

 

Stephan Mies

 

Member of the board

Director/Board Member

 

Anke Strohscheer

 

Member of the board of directors

Director/Board Member

 

Bettina Strohscheer-Mies

 

Member of the board of directors

Director/Board Member

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Taxes and social security costs

1.8

1.9

2.3

Total payroll costs

10.8

10.6

13.8

Fixed asset depreciation and amortisation

0.5

0.7

0.9

Other operating costs

12.3

13.2

17.4

Net operating income

0.6

0.0

1.7

Other income

0.0

0.1

0.2

Interest payable on loans

1.0

0.9

1.1

Other expenses

-

0.0

-

Total expenses

0.9

0.9

0.9

Profit before tax

-0.4

-0.9

0.8

Extraordinary income

0.1

-

-

Provisions

1.1

0.9

1.3

Extraordinary result

0.1

-

-

Other taxes

0.0

0.0

0.0

Total taxation

0.0

-0.1

0.4

Net profit

-

-

0.4

Net loss

-0.3

-0.8

-

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Issued capital

4.0

4.3

4.2

Capital reserves

1.2

1.2

1.2

Unavailable reserves

0.1

0.1

0.2

Total reserves

2.9

3.1

3.0

Profits for the year

-0.4

-0.1

0.6

Profit brought forward from previous year(s)

-0.1

-

-

Total stockholders equity

7.7

8.5

9.0

Other provisions

1.1

0.9

1.3

Provisions and allowances

1.1

0.9

1.3

Taxes and social security

7.0

-

-

Total long-term liabilities

7.0

-

-

Trade creditors

2.4

-

-

Advances received

3.6

-

-

Other loans

8.1

-

-

Taxation and social security

2.2

-

-

Total current liabilities

16.3

24.4

21.5

Total liabilities (including net worth)

32.4

34.0

31.9

Patents

0.6

-

-

Intangibles

0.6

0.4

0.5

Land and buildings

0.0

-

-

Machinery and tools

0.9

-

-

Fixtures and equipment

0.0

-

-

Total tangible fixed assets

1.5

1.9

2.4

Long-term investments

0.2

-

-

Shares held in associated companies

0.4

-

-

Total financial assets

4.4

1.8

2.4

Loans to associated companies

3.8

-

-

Total non-current assets

6.5

4.0

5.3

Net stocks and work in progress

13.0

12.4

12.0

Total receivables

12.7

17.5

14.5

Cash and liquid assets

0.0

0.0

0.0

Recoverable taxation

0.2

-

-

Total current assets

25.7

29.9

26.6

Prepaid expenses and deferred costs

0.1

0.0

0.1

Total assets

32.4

34.0

31.9

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Current ratio

15.76

12.25

12.36

Acid test ratio

7.79

7.16

6.76

Total liabilities to net worth

0.30%

0.29%

0.24%

Net worth to total assets

0.02%

0.03%

0.03%

Current liabilities to net worth

0.21%

0.29%

0.24%

Current liabilities to stock

0.13%

0.20%

0.18%

Fixed assets to net worth

0.08%

0.05%

0.06%

Return on assets

0.00%

0.00%

0.00%

Shareholders' return

0.00%

-0.01%

0.00%

Profit per employee

-0.15

-0.31

0.13

Average wage per employee

4.87

4.17

5.20

Net worth

7.7

8.5

9.0

Number of employees

168

183

182

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.34

UK Pound

1

Rs.86.45

Euro

1

Rs.68.43

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.