MIRA INFORM REPORT
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Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
KORSCH AKTIENGESELLSCHAFT |
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Registered Office : |
Breitenbachstr. 1-6, D 13509 Berlin, Post Box 27 04 34, D 13474 Berlin |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
22.09.1998 |
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Com. Reg. No.: |
HRB 68159 B |
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Legal Form : |
Public Limited
Company |
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Line of Business : |
Manufacture of
other special-purpose machinery |
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No. of Employees
: |
170 |
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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Maximum Credit Limit : |
250,000 EUR |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 & address
Korsch
Aktiengesellschaft
Main address:
Breitenbachstr. 1-6
D 13509 Berlin
Post Box:
27 04 34, D 13474 Berlin
Telephone: 030/435760
Telefax: 030/43576350
Homepage: www.korsch.de
E-mail: berlin@korsch.de
VAT no
DE159338554
Synthesis
LEGAL FORM Public
limited company
Date of
foundation: 02.07.1998
Registered on: 22.09.1998
Commercial Register:
Local court 14057 Berlin
under: HRB
68159 B
Share capital: EUR 3,000,000.00
Shareholder
Eckard Strohscheer
Pfadfinderweg 29
D 13465 Berlin
born: 19.07.1933
Share:
11.900 %
Shareholder:
Bettina Strohscheer-Mies
Mühlenfeldstr. 90
D 13467 Berlin
born: 13.05.1966
née: Strohscheer
Share: 19.600 %
Shareholder:
Anke Strohscheer
Im Park 3
D 16567 Schönfließ
born: 09.02.1966
Share: 19.600 %
Shareholder:
Stephan Mies
Mühlenfeldstr. 90
D 13467 Berlin
born: 13.10.1961
Share: 19.600 %
Shareholder:
Christiane Strohscheer
Pfadfinderweg 29
D 13465 Berlin
Share: 19.600 %
Shareholder:
Frederic J. Murray
D 13509 Berlin
Share: 3.100 %
Shareholder:
Georg Andreas Bössenrodt
D 13509 Berlin
Share: 3.300 %
Shareholder:
Walter Hegel
D 13509 Berlin
Share: 3.300 %
President of the Board of Directors:
Stephan Mies
Mühlenfeldstr. 90
D 13467 Berlin
having sole power of
representation
born: 13.10.1961
Profession: graduate
engineer
Marital status: married
President of the Supervisory Board:
Eckard Strohscheer
Pfadfinderweg 29
D 13465 Berlin
born: 19.07.1933
Marital status: married
Member of the Supervisory Board:
Bettina Strohscheer-Mies
Mühlenfeldstr. 90
D 13467 Berlin
born: 13.05.1966
née: Strohscheer
Profession: Businessman
Marital status: married
Member of the Supervisory Board:
Anke Strohscheer
Im Park 3
D 16567 Schönfließ
born: 09.02.1966
Profession: Fully
qualified agri. engineer
Marital status: married
COMPANY HISTORY
29.07.1993 -
21.09.1998 Korsch Pressen GmbH
Breitenbachstr. 1
D 13509 Berlin
Private limited
company
22.09.1998 -
29.07.2001 Korsch Pressen
Aktiengesellschaft
Breitenbachstr. 1
D 13509 Berlin
Public limited company
BUSINESS ACTIVITIES
Main industrial sector
28990 Manufacture of other special-purpose
machinery n.e.c.
Secondary industrial sector
· 28290 Manufacture of other general-purpose machinery
· 46692 Wholesale of other machinery
FINANCIAL INFORMATION
Payment
experience: within agreed terms
Negative
information: We have no negative
information at hand.
Maximum credit: 250,000
EUR
Balance sheet
year: 2009
REAL ESTATE
Type of
ownership: Tenant
Address Breitenbachstr.
1-6
D 13509 Berlin
Real Estate of: Stephan
Mies
Type of
ownership: Tenant
Address Mühlenfeldstr.
90
D 13467 Berlin
Land register
documents were not available.
BANKERS
Principal bank
COMMERZBANK BERLIN
OST, BERLIN
Sort. code:
12040000, BIC: COBADEBB120
Further banks
HSH NORDBANK
HAMBURG, KIEL, KIEL
Sort. code:
21050000, BIC: HSHNDEHHXXX
COMMERZBANK BERLIN
(WEST), BERLIN
Sort. code:
10040000, BIC: COBADEBBXXX
FINANCIAL FIGURES
Gross profit or loss:2010
EUR 17,200,000.00
Ac/ts receivable:
EUR 12,171,398.00
Liabilities: EUR 17,029,776.00
Employees:
170
BALANCE SHEETS
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]:
24.59
Liquidity ratio:
0.72
Return on total capital [%]:
-2.38
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]:
49.85
Liquidity ratio:
1.00
Return on total capital [%]:
1.05
Balance sheet ratios 01.01.2007 - 31.12.2007
Equity ratio [%]:
55.54
Liquidity ratio:
1.03
Return on total capital [%]:
2.89
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.
Type of balance
sheet: Company balance
sheet
Financial year: 01.01.2009 -
31.12.2009
ASSETS
EUR 23,680,315.11
Fixed assets EUR 2,789,918.31
Intangible assets EUR 250,402.86
Other / unspecified intangible assetsEUR 250,402.86
Tangible assets EUR 1,301,598.87
Other / unspecified tangible
assets EUR 1,301,598.87
Financial assets EUR 1,237,916.58
Other / unspecified financial
assets EUR 1,237,916.58
Current assets EUR 20,856,991.14
Stocks EUR 8,670,317.42
Accounts receivable EUR 12,171,398.44
Other debtors and assets EUR 12,171,398.44
Liquid means EUR 15,275.28
Remaining other assets EUR 33,405.66
Accruals (assets) EUR 33,405.66
LIABILITIES
EUR 23,680,315.11
Shareholders' equity EUR 5,916,273.21
Capital EUR 3,000,000.00
Subscribed capital (share capital) EUR
3,000,000.00
Reserves EUR 3,018,921.44
Capital reserves EUR 864,000.00
Retained earnings / revenue
reserves EUR 2,154,921.44
Balance sheet profit/loss
(+/-) EUR -102,648.23
Balance sheet profit / loss EUR -102,648.23
Items between shareholders' equity
and
debt capital EUR 103,857.88
Allowances / bonuses EUR 103,857.88
Provisions EUR 630,408.00
Other / unspecified
provisions EUR 630,408.00
Liabilities EUR 17,029,776.02
Other liabilities EUR
17,029,776.02
Unspecified other
liabilities EUR 17,029,776.02
Profit and loss account (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 12,831,122.67
Staff expenses EUR 7,637,864.68
Wages and salaries EUR 6,269,556.02
Social security contributions and
expenses for pension plans and
benefits EUR 1,368,308.66
Total depreciation EUR 481,730.94
Depreciation on tangible /
intangible
asssets (incl. start-up and exp.
of
bus. EUR 481,730.94
Other operating expenses EUR 4,730,514.99
Operating result from continuing
operations EUR -18,987.94
Interest result (+/-) EUR -593,086.73
Interest and similar income EUR 76,922.89
thereof from related
companies EUR 64,437.24
Interest and similar
expenses EUR 670,009.62
Other financial result EUR -23,053.15
Depreciation on financial assets
and
marketable securities EUR 23,053.15
Financial result (+/-) EUR -616,139.88
Result from ordinary operations
(+/-) EUR -635,127.82
Income tax / refund of income tax
(+/-)EUR 76,586.00
Other taxes / refund of taxes EUR -1,515.90
Tax (+/-) EUR 75,070.10
Annual surplus / annual
deficit EUR -560,057.72
Type of balance
sheet: Company
balance sheet
Financial year: 01.01.2008 - 31.12.2008
ASSETS
EUR 22,977,200.85
Fixed assets EUR 3,778,497.45
Intangible assets EUR 325,486.30
Other / unspecified intangible
assetsEUR 325,486.30
Tangible assets EUR 1,694,595.89
Other / unspecified tangible
assets EUR 1,694,595.89
Financial assets EUR 1,758,415.26
Other / unspecified financial
assets EUR 1,758,415.26
Current assets EUR 19,114,075.50
Stocks EUR 8,667,161.98
Accounts receivable EUR 10,438,813.55
Other debtors and assets EUR 10,438,813.55
Liquid means EUR 8,099.97
Remaining other assets EUR 84,627.90
Accruals (assets) EUR 84,627.90
LIABILITIES
EUR 22,977,200.85
Shareholders' equity EUR 6,476,330.93
Capital EUR 3,000,000.00
Subscribed capital (share
capital) EUR 3,000,000.00
Reserves EUR 3,018,921.44
Capital reserves EUR 864,000.00
Retained earnings / revenue
reserves EUR 2,154,921.44
Balance sheet profit/loss
(+/-) EUR 457,409.49
Balance sheet profit / loss EUR 457,409.49
Items between shareholders' equity
and
debt capital EUR 133,171.13
Allowances / bonuses EUR 133,171.13
Provisions EUR 902,677.57
Other / unspecified
provisions EUR 902,677.57
Liabilities EUR 15,465,021.22
Other liabilities EUR 15,465,021.22
Unspecified other
liabilities EUR 15,465,021.22
Guarantees and other
commitments EUR 428,400.00
Guarantees / warranties EUR 428,400.00
Guarantees EUR 428,400.00
Profit and loss account (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 17,172,180.66
Staff expenses EUR 9,461,239.94
Wages and salaries EUR
7,891,110.88
Social security contributions and
expenses for pension plans and
benefits EUR 1,570,129.06
Total depreciation EUR 612,244.16
Depreciation on tangible /
intangible
asssets (incl. start-up and exp.
of
bus. EUR 612,244.16
Other operating expenses EUR 5,942,691.03
Operating result from continuing
operations EUR 1,156,005.53
Interest result (+/-) EUR -634,985.35
Interest and similar income EUR 105,573.01
thereof from related
companies EUR 96,980.50
Interest and similar expenses EUR 740,558.36
Financial result (+/-) EUR -634,985.35
Result from ordinary operations
(+/-) EUR 521,020.18
Income tax / refund of income tax
(+/-)EUR -278,748.02
Other taxes / refund of taxes EUR -2,321.10
Tax (+/-) EUR -281,069.12
Annual surplus / annual deficit EUR
239,951.06
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.33 |
|
UK Pound |
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.07 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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.