MIRA
INFORM REPORT
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Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BNS BERGAL, NICO & SOLITAIRE VERTRIEBS
GMBH |
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Registered Office : |
Rheinallee 104, Mainz, 55120 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.09.1999 |
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Com. Reg. No.: |
6983 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
wholesaler of industrial chemicals |
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No. of Employees : |
33 employees |
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 : |
No Complaints |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
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Source : CIA |
Company name & address
BNS BERGAL, NICO & SOLITAIRE Vertriebs GmbH
Rheinallee 104
Mainz, 55120
Germany
Tel: +49 (0) 6131 96404
Fax: +49 (0) 6131 9642515
Synthesis
Employees: 33
Company Type: Private Independent
Incorporation Date:
07-Sep-1999
Financials in: uSD (Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 44.7
Total Assets: 11.3
Business Description
BNS BERGAL, NICO & SOLITAIRE Vertriebs GmbH is primarily engaged in
wholesale of industrial chemicals (aniline, printing ink, essential oils,
industrial gases, chemical glues, colouring matter, synthetic resin, methanol,
paraffin, scents and flavourings, soda, industrial salt, acids and sulphur,
starch derivatives, etc.); wholesale of fertilisers and agro-chemical products;
wholesale of plastic materials in primary forms; and wholesale of rubber.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 3323 - Industrial and
Agricultural Chemical Product Wholesaling
NACE 2002: 5155 - Wholesale
of chemical products
NAICS 2002: 4246 - Chemical
and Allied Products Merchant Wholesalers
UK SIC 2003: 5155 - Wholesale
of chemical products
UK SIC 2007: 4675 - Wholesale
of chemical products
US SIC 1987: 5169 - Chemicals
and Allied Products, Not Elsewhere Classified
Key Executives
Name Title
Marc Bals Managing director
Frank Sauter Managing director
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
Rheinallee 104
Mainz, 55120
Germany
Tel: +49 (0) 6131 96404
Fax: +49 (0) 6131 9642515
Sales EUR(mil): 33.7
Assets EUR(mil): 8.5
Employees: 33
Fiscal Year End: 31-Dec-2010
Industry: Chemical
Manufacturing
Incorporation Date: 07-Sep-1999
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(DEU): 6983
Managing director: Frank
Sauter
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3323 - Industrial and Agricultural Chemical Product Wholesaling
3494 - Other Electrical and Electronic Goods Wholesaling
3711 - Textile Product Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
5143 - Wholesale of electrical household appliances and radio and
television goods
5141 - Wholesale of textiles
NAICS 2002 Codes:
4246 - Chemical and Allied Products Merchant Wholesalers
4236 - Electrical and Electronic Goods Merchant Wholesalers
424310 - Piece Goods, Notions, and Other Dry Goods Merchant
Wholesalers
US SIC 1987:
5169 - Chemicals and Allied Products, Not Elsewhere Classified
5131 - Piece Goods, Notions, and Other Dry Good
5064 - Electrical Appliances, Television and Radio Sets
UK SIC 2003:
5155 - Wholesale of chemical products
5143 - Wholesale of electrical household appliances and radio and
television goods
5141 - Wholesale of textiles
UK SIC 2007:
4675 - Wholesale of chemical products
4641 - Wholesale of textiles
4643 - Wholesale of electrical household appliances
Business
Description
BNS BERGAL, NICO & SOLITAIRE Vertriebs GmbH is primarily engaged in
wholesale of industrial chemicals (aniline, printing ink, essential oils,
industrial gases, chemical glues, colouring matter, synthetic resin, methanol,
paraffin, scents and flavourings, soda, industrial salt, acids and sulphur,
starch derivatives, etc.); wholesale of fertilisers and agro-chemical products;
wholesale of plastic materials in primary forms; and wholesale of rubber.
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EXECUTIVE REPORT
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Executives |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
Annual Profit & Loss
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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
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
44.7 |
40.9 |
36.6 |
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Raw materials and services |
22.7 |
18.7 |
19.1 |
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Net sales |
44.7 |
40.9 |
36.6 |
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Other operating income |
0.4 |
0.5 |
0.2 |
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Raw materials and consumables employed |
22.7 |
18.7 |
19.1 |
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Other external charges |
11.0 |
12.2 |
8.8 |
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Cost of goods sold |
33.7 |
30.9 |
27.9 |
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Cost of raw materials |
33.7 |
30.9 |
27.9 |
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Taxes and social security costs |
0.4 |
0.4 |
0.4 |
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Total payroll costs |
3.0 |
3.0 |
2.7 |
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Fixed asset depreciation and amortisation |
0.0 |
0.1 |
0.1 |
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Other operating costs |
13.0 |
12.0 |
11.2 |
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Net operating
income |
1.8 |
1.4 |
0.5 |
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Interest received from loans |
1.3 |
- |
- |
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Other income |
0.1 |
0.1 |
0.0 |
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Interest payable on loans |
0.2 |
0.0 |
0.0 |
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Total expenses |
-1.2 |
0.0 |
0.0 |
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Profit before tax |
3.0 |
1.5 |
0.5 |
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Provisions |
1.3 |
1.6 |
1.1 |
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Extraordinary expenses |
0.0 |
- |
- |
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Extraordinary result |
0.0 |
- |
- |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.5 |
0.5 |
0.2 |
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Net profit |
2.4 |
1.0 |
0.4 |
Annual Balance
Sheet
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.2 |
0.2 |
0.2 |
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Profits for the year |
3.0 |
1.3 |
0.3 |
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Profit brought forward from previous
year(s) |
0.6 |
0.3 |
0.0 |
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Total
stockholders equity |
3.2 |
1.5 |
0.5 |
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Deferred taxation |
0.1 |
0.6 |
0.2 |
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Other provisions |
0.7 |
0.5 |
0.4 |
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Provision for pensions |
0.5 |
0.5 |
0.5 |
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Provisions and allowances |
1.3 |
1.6 |
1.0 |
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Other debentures |
1.0 |
- |
- |
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Total long-term
liabilities |
1.0 |
- |
- |
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Trade creditors |
0.4 |
0.5 |
1.3 |
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Other loans |
1.1 |
2.6 |
- |
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Taxation and social security |
0.5 |
0.4 |
0.6 |
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Owing to participants |
3.8 |
2.9 |
3.3 |
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Total current
liabilities |
5.9 |
6.4 |
5.1 |
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Regularisation account |
0.0 |
- |
- |
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Total
liabilities (including net worth) |
11.3 |
9.6 |
6.6 |
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Patents |
0.3 |
0.3 |
0.4 |
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Intangibles |
0.3 |
0.3 |
0.4 |
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Total tangible
fixed assets |
0.1 |
0.0 |
0.0 |
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Long-term investments |
0.9 |
0.9 |
- |
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Other financial assets |
0.0 |
- |
0.0 |
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Shares held in associated companies |
- |
- |
0.0 |
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Participating interest |
- |
0.0 |
- |
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Total financial
assets |
2.4 |
3.0 |
0.0 |
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Loans to participants |
1.5 |
2.0 |
- |
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Total
non-current assets |
2.7 |
3.3 |
0.4 |
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Raw materials |
0.3 |
0.3 |
0.2 |
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Finished goods |
1.2 |
1.4 |
1.3 |
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Net stocks and work in progress |
1.5 |
1.6 |
1.5 |
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Trade debtors |
4.7 |
3.1 |
2.9 |
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Other receivables |
0.1 |
0.1 |
0.1 |
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Total
receivables |
6.5 |
3.7 |
3.5 |
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Owing from participants |
1.8 |
0.5 |
0.5 |
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Cash and liquid assets |
0.5 |
0.9 |
1.2 |
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Total current
assets |
8.6 |
6.3 |
6.2 |
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Prepaid expenses and deferred costs |
0.1 |
0.0 |
0.1 |
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Total assets |
11.3 |
9.6 |
6.6 |
Annual Ratios
Financials in: USD (mil)
|
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 |
No |
No |
No |
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|
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Current ratio |
14.58 |
9.75 |
12.09 |
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Acid test ratio |
11.98 |
7.25 |
9.10 |
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Total liabilities to net worth |
0.22% |
0.42% |
1.02% |
|
Net worth to total assets |
0.03% |
0.02% |
0.01% |
|
Current liabilities to net worth |
0.18% |
0.42% |
1.02% |
|
Current liabilities to stock |
0.38% |
0.40% |
0.34% |
|
Fixed assets to net worth |
0.09% |
0.22% |
0.08% |
|
Collection period |
376.00 |
270.00 |
307.00 |
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Stock turnover rate |
0.34 |
0.38 |
0.44 |
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Profit margin |
0.01% |
0.00% |
0.00% |
|
Return on assets |
0.02% |
0.01% |
0.01% |
|
Shareholders' return |
0.08% |
0.07% |
0.07% |
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Sales per employee |
102.26 |
91.96 |
78.24 |
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Profit per employee |
5.47 |
2.22 |
0.76 |
|
Average wage per employee |
6.89 |
6.82 |
5.84 |
|
Net worth |
3.2 |
1.5 |
0.5 |
|
Number of employees |
33 |
32 |
32 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
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 |
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NB |
New Business |
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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.