MIRA INFORM REPORT

 

 

Report Date :

16.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ERNSTING'S FAMILY GMBH & CO. KG

 

 

Registered Office :

Industriestr. 1, D 48653 Coesfeld

 

 

Country :

Germany

 

 

Date of Incorporation :

17.09.1993

 

 

Com. Reg. No.:

HRB 2035

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Retail sale of clothing

 

 

No. of Employees :

Not Available

 

 

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 :

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

Company name

 

Ernsting's family GmbH & Co. KG

 

Industriestr. 1

D 48653 Coesfeld

Telephone:        02546/770

Telefax:             02546/772890

Homepage:        www.ernstings-family.de

E-mail:              info@ernstings-family.de

 

Trade name:          Gina Benotti / van Vaan

 

VAT no.:             DE124462989

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company details

 

LEGAL FORM               Ltd partnership with priv. ltd. company as general partner

Date of foundation:         1968

Begin of business

activities:                       26.10.1983

Registered on:               26.10.1983

Register of

companies:                   Local court 48653 Coesfeld

under:                                       HRA 1730

 

Total cap. contribution:                EUR            767,000.00

 

 

Limited partner

 

EHG Service GmbH

Industriestr. 1

D 48653 Coesfeld

Legal form:        Private limited company

Share capital:     EUR         25,600,000.00

Share:               EUR            767,000.00

Registered on: 17.09.1993

Reg. data: 48653 Coesfeld, HRB 2035

 

General partner

 

Ernsting's family Geschäftsführungs-GmbH

Industriestr. 1

D 48653 Coesfeld

Legal form: Private limited company

Share capital:     EUR             26,000.00

Registered on: 23.11.1982

Reg. data: 48653 Coesfeld, HRB 1451

 

 

Shareholder

 

EHG Service GmbH

Industriestr. 1

D 48653 Coesfeld

Legal form: Private limited company

Share capital:     EUR         25,600,000.00

Share:             EUR             26,000.00

Registered on: 17.09.1993

Reg. data: 48653 Coesfeld, HRB 2035

 

 

Manager

 

Dietmar Bollmann

Luko - Dorfstr. 5

D 06869 Coswig

born: 06.01.1953

 

Manager:

Johannes Ehling

Kalvarienbergstr. 14a

D 82340 Feldafing

born: 02.02.1967

Marital status: married

 

Manager:

Dagmar Heuer

Lilienbeck 17a

D 48727 Billerbeck

born: 15.08.1955

Marital status: unknown

 

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

47710   Retail sale of clothing

 

 

BRANCHES AND FACTORIES

 

Works:

Ernsting's family GmbH & Co. KG

Hugo-Ernsting-Platz

D 48653 Coesfeld

 

Branch:

Ernsting's family GmbH & Co. KG

Kurt-Ernsting-Str. 1

OT Klieken

D 06869 Coswig

TEL.: 034903/5020

FAX.: 034903/50180

 

Branch:

Ernsting's family GmbH & Co. KG

Industriestr. 29

D 21493 Schwarzenbek

TEL.: kein Eintrag

 

 

FINANCIAL INFORMATION

 

Payment experience:  cash discount/within agreed terms

 

Negative information:We have no negative information at hand.

 

 

REAL ESTATE

 

Type of ownership:   proprietor

Share:                100.00 %

Address              Industriestr. 1

D 48653 Coesfeld

 

Type of ownership:   proprietor

Share:                100.00 %

Address              Hugo-Ernsting-Platz

D 48653 Coesfeld

 

Real Estate of:      Ernsting's family Geschäftsführungs-GmbH

Type of ownership:   Tenant

Address              Industriestr. 1

D 48653 Coesfeld

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

SPARKASSE WESTMÜNSTERLAND, COESFELD

 

Further bank

COMMERZBANK VORMALS DRESDNER BANK, MÜNSTER, WESTF

 

 

FINANCIAL FIGURES

 

Financial year:      01.01. - 31.12.

Turnover:            2010               EUR        698,879,000.00

Profit:                2010               EUR         51,453,487.00

The number of employees is not known.

 

The aforementioned business figures may partly be estimated information based on average values in the line of business.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.93

UK Pound

1

Rs.87.38

Euro

1

Rs.69.93

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.