MIRA
INFORM REPORT
|
Report Date : |
13.08.2012 |
IDENTIFICATION DETAILS
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Name : |
GELITA AG |
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Registered Office : |
Uferstrasse 7 Eberbach, 69412 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1875 |
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Com. Reg. No.: |
333796 |
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Legal Form : |
Private Parent |
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Line of Business : |
Manufacture of pharmaceutical preparations |
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No. of Employees : |
2,500 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
GELITA AG
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Business Description
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Manufacture of high-grade gelatine and other proteins, including
collagen-hydrolysates, for all applications |
Industry
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Industry |
Biotechnology and Drugs |
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ANZSIC 2006: |
1841 - Human Pharmaceutical and Medicinal
Product Manufacturing |
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NACE 2002: |
2442 - Manufacture of pharmaceutical
preparations |
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NAICS 2002: |
325414 - Biological Product (except
Diagnostic) Manufacturing |
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UK SIC 2003: |
2442 - Manufacture of pharmaceutical
preparations |
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US SIC 1987: |
2836 - Biological Products, Except
Diagnostic Substances |
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Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News
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GELITA AG |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Biotechnology and Drugs |
580.4 |
2,500 |
|
|
Subsidiary |
Klippan |
Sweden |
Food Processing |
90.6 |
177 |
|
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Subsidiary |
Calumet City, IL |
United States |
Chemical Manufacturing |
17.3 |
70 |
|
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Retail (Grocery) |
|
14 |
|
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Subsidiary |
Memmingen, Bayern |
Germany |
Personal Services |
|
50 |
|
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Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Personal and Household Products |
|
9 |
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Commercial Banks |
|
3 |
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Food Processing |
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1 |
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Food Processing |
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Commercial Banks |
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1 |
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Business Services |
|
50 |
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Subsidiary |
Ter Apelkanaal, Groningen |
Netherlands |
Chemical Manufacturing |
|
25 |
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Subsidiary |
Eberbach, Baden-WĂ¼rttemberg |
Germany |
Miscellaneous Financial Services |
|
1 |
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Subsidiary |
Cotia, SP |
Brazil |
Food Processing |
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Executives Report
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Annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
Yes |
Yes |
Yes |
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Total income |
580.4 |
559.6 |
578.3 |
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Raw materials and services |
265.3 |
268.0 |
281.0 |
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Net sales |
580.4 |
559.6 |
578.3 |
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Change in stock |
-15.4 |
12.1 |
4.2 |
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Own work capitalised |
0.1 |
0.1 |
0.5 |
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Other operating income |
34.4 |
35.7 |
54.1 |
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Raw materials and consumables employed |
265.3 |
268.0 |
281.0 |
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Other external charges |
16.3 |
15.8 |
17.2 |
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Cost of goods sold |
281.6 |
283.7 |
298.2 |
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Cost of raw materials |
281.6 |
283.7 |
298.2 |
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Taxes and social security costs |
25.7 |
29.9 |
34.2 |
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Total payroll costs |
136.8 |
139.4 |
147.0 |
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Fixed asset depreciation and amortisation |
35.2 |
34.0 |
36.9 |
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Other operating costs |
219.6 |
226.6 |
280.8 |
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Net operating income |
36.2 |
36.9 |
14.6 |
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Other income |
3.7 |
2.3 |
3.5 |
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Interest payable on loans |
6.7 |
4.0 |
4.3 |
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Other expenses |
0.1 |
0.0 |
0.1 |
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Total expenses |
0.8 |
1.0 |
-1.3 |
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Profit before tax |
35.4 |
35.9 |
15.9 |
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Extraordinary income |
0.6 |
- |
- |
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Provisions |
104.1 |
117.6 |
114.8 |
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Extraordinary expenses |
3.1 |
6.4 |
- |
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Extraordinary result |
-2.5 |
-6.4 |
- |
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Other taxes |
2.4 |
2.1 |
2.0 |
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Total taxation |
9.2 |
12.5 |
7.0 |
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Net profit |
21.4 |
14.9 |
6.9 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
Yes |
Yes |
Yes |
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Issued capital |
33.5 |
35.9 |
34.8 |
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Legal reserves |
3.4 |
3.6 |
3.5 |
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Other reserves |
351.3 |
335.2 |
290.9 |
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Total reserves |
354.6 |
338.8 |
294.3 |
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Profits for the year |
11.2 |
9.7 |
7.5 |
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Total stockholders equity |
402.7 |
384.3 |
336.6 |
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Deferred taxation |
-18.8 |
3.0 |
2.4 |
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Other provisions |
56.7 |
53.1 |
44.5 |
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Provision for pensions |
47.2 |
48.3 |
46.0 |
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Provisions and allowances |
105.4 |
121.4 |
109.1 |
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Other debentures |
26.2 |
37.6 |
46.9 |
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Taxes and social security |
0.1 |
- |
- |
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Total long-term liabilities |
26.4 |
37.6 |
46.9 |
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Trade creditors |
31.8 |
26.3 |
28.0 |
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Advances received |
0.3 |
0.2 |
0.1 |
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Other loans |
28.8 |
53.9 |
60.4 |
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Taxation and social security |
5.1 |
5.0 |
5.2 |
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Due to group companies |
1.6 |
1.5 |
1.3 |
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Total current liabilities |
67.7 |
86.8 |
94.9 |
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Regularisation account |
0.3 |
0.0 |
0.2 |
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Total liabilities (including net worth) |
602.5 |
630.2 |
587.8 |
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Patents |
1.5 |
1.4 |
1.1 |
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Goodwill |
- |
0.6 |
1.1 |
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Intangibles |
1.5 |
2.0 |
2.2 |
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Land and buildings |
139.9 |
147.0 |
136.5 |
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Machinery and tools |
119.0 |
118.3 |
106.1 |
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Fixtures and equipment |
139.9 |
147.0 |
136.5 |
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Fixed assets under construction |
4.7 |
5.7 |
13.3 |
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Total tangible fixed assets |
271.6 |
280.2 |
265.9 |
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Long-term investments |
0.4 |
0.3 |
0.3 |
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Shares held in associated companies |
0.8 |
0.9 |
0.8 |
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Total financial assets |
1.2 |
1.1 |
1.1 |
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Total non-current assets |
274.3 |
283.3 |
269.1 |
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Raw materials |
30.2 |
25.0 |
30.5 |
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Work in progress |
4.8 |
5.2 |
6.4 |
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Finished goods |
97.4 |
111.9 |
90.0 |
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Prepayments |
2.8 |
2.0 |
2.4 |
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Net stocks and work in progress |
135.3 |
144.1 |
129.3 |
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Trade debtors |
86.8 |
82.5 |
87.0 |
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Other receivables |
28.6 |
55.0 |
31.1 |
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Total receivables |
130.5 |
154.2 |
134.4 |
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Owing from participants |
15.1 |
16.7 |
16.3 |
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Cash and liquid assets |
54.3 |
46.0 |
31.6 |
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Marketable securities |
0.0 |
0.0 |
0.0 |
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Short-term investments |
0.0 |
0.0 |
0.0 |
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Recoverable taxation |
5.4 |
0.2 |
20.9 |
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Total current assets |
320.2 |
344.2 |
295.2 |
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Prepaid expenses and deferred costs |
2.5 |
2.4 |
2.6 |
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Total assets |
602.5 |
630.2 |
587.8 |
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Annual Ratios |
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Financials in:
USD (mil) |
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
Yes |
Yes |
Yes |
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Current ratio |
47.30 |
39.63 |
31.09 |
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Acid test ratio |
27.31 |
23.05 |
17.48 |
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Total liabilities to net worth |
0.02% |
0.03% |
0.04% |
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Net worth to total assets |
0.07% |
0.06% |
0.06% |
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Current liabilities to net worth |
0.02% |
0.02% |
0.03% |
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Current liabilities to stock |
0.05% |
0.06% |
0.07% |
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Fixed assets to net worth |
0.07% |
0.07% |
0.08% |
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Collection period |
540.00 |
522.00 |
577.00 |
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Stock turnover rate |
2.30 |
2.50 |
2.35 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.00% |
0.00% |
0.00% |
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Shareholders' return |
0.01% |
0.00% |
0.00% |
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Sales per employee |
17.77 |
15.99 |
15.38 |
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Profit per employee |
0.73 |
0.61 |
0.18 |
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Average wage per employee |
4.19 |
3.98 |
3.91 |
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Net worth |
402.7 |
384.3 |
336.6 |
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Number of employees |
2,466 |
2,516 |
2,570 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
|
1 |
Rs.86.45 |
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Euro |
1 |
Rs.68.04 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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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 |
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<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.