MIRA INFORM REPORT

 

 

Report Date :

24.11.2012

 

IDENTIFICATION DETAILS

 

Name :

HELL GRAVURE SYSTEMS GMBH & CO. KG

 

 

Registered Office :

Philipp-Reis-Weg 5, D 24148 Kiel, Post Box: 6005, D 24111 Kiel

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

21.02.1997

 

 

Com. Reg. No.:

HRA 5497 KI

 

 

Legal Form :

Ltd partnership with priv

 

 

Line of Business :

Manufacture of other general-purpose machinery

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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

 

Hell Gravure Systems GmbH & Co. KG

 

Philipp-Reis-Weg 5

D 24148 Kiel

Post Box:

6005, D 24111 Kiel

Telephone:        0431/2377-0

Telefax:             0431/2377-1235

Homepage:        www.hell-gravure-systems.com

E-mail:               info@hell-gravuren-systems.com

 

 

VAT no            

 

DE812178712

 

 

Tax ID number      

 

19 296 02991

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company detalis

 

LEGAL FORM               Ltd partnership with priv. ltd. company as

general partner

Date of foundation:         21.02.1997

Begin of business

activities:                       21.02.1997

Registered on:               21.12.2006

Register of

companies:                   Local court 24114 Kiel

under:                                       HRA 5497 KI

 

Total cap. contribution:                EUR          2,000,000.00

 

 

 

Limited partner

 

Heliograph Holding GmbH

Konrad-Zuse-Bogen 18

D 82152 Krailling

Legal form: Private limited company

Share capital:     EUR            200,000.00

Share:             EUR          2,000,000.00

Registered on: 19.12.2008

Reg. data: 80797 München, HRB 176787

 

 

General partner

 

Hell Gravure Beteiligungs GmbH

Philipp-Reis-Weg 5

D 24148 Kiel

Legal form: Private limited company

Share capital:     EUR             25,000.00

Registered on: 08.09.2006

Reg. data: 24114 Kiel, HRB 8368 KI

 

 

Shareholder

 

Maximilian (gen. Max) Rid

Krennerweg 18

D 81479 München

born: 21.08.1961

Share:             EUR             25,000.00

 

 

Manager

 

Dr. Ing. Jörg Pohe

D 24649 Fuhlendorf

having sole power of representation

born: 23.07.1963

Marital status: married

 

 

Proxy

 

Horst Bick

D 23758 Oldenburg

authorized to jointly represent the company

born: 05.12.1960

Profession: Fully qualified Economist

 

Proxy:

Burghard Michaelis

D 24582 Bordesholm

authorized to jointly represent the company

born: 23.06.1956

 

Proxy:

Bernd Gustav Lübcke

D 24340 Eckernförde

authorized to jointly represent the company

born: 29.04.1953

 

 

COMPANY HISTORY

 

21.02.1997 - 12.06.2002  Hell Gravure Systems Gesellschaft mit

beschränkter Haftung

Dr.-Hell-Str.

D 24107 Kiel

Private limited company

04.10.2006 - 03.01.2007  Hell Gravure Systems Gesellschaft mit

beschränkter Haftung

Philipp-Reis-Weg 5

D 24148 Kiel

Private limited company

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

28290   Manufacture of other general-purpose machinery

 

Secondary industrial sector

96090   Other service activities n. e. c.

 

 

PARTICIPATIONS

 

Shareholder:

GTC electronic GmbH

Schwanenweg 26

D 24235 Laboe

Legal form: Private limited company

Company Status: active

Share capital:     EUR             25,600.00

Share:             EUR             25,600.00

Reg. data:  13.09.1990

Local court 24114 Kiel

HRB 1918 PL

 

 

FINANCIAL INFORMATION

 

Payment experience:  cash discount/within agreed terms

 

Negative information:We have no negative information at hand.

 

 

REAL ESTATE

 

Type of ownership:   Tenant

Address              Philipp-Reis-Weg 5

D 24148 Kiel

 

Real Estate of:      Hell Gravure Beteiligungs GmbH

Type of ownership:   Tenant

Address              Philipp-Reis-Weg 5

D 24148 Kiel

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

COMMERZBANK, KIEL

Sort. code: 21040010, BIC: COBADEFF210

 

Further bank

DEUTSCHE BANK, KIEL

Sort. code: 21070020, BIC: DEUTDEHH210

 

 

FINANCIAL FIGURES

 

Turnover:            2010               EUR         30,000,000.00

2011               EUR         30,000,000.00

further business figures:

Equipment:                              EUR            598,430.00

Ac/ts receivable:                       EUR         11,323,581.00

Liabilities:                            EUR          3,680,510.00

Employees:                                                    121

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 42.65

Liquidity ratio:                   9.35

Return on total capital [%]:      12.25

 

Balance sheet ratios 01.01.2008 - 31.12.2008

Equity ratio [%]:                 47.28

Liquidity ratio:                  10.00

Return on total capital [%]:      25.89

 

Balance sheet ratios 01.01.2007 - 31.12.2007

Equity ratio [%]:                 36.02

Liquidity ratio:                   4.90

Return on total capital [%]:      40.14

 

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. It is calculated

in accordance with the methodology of Euler Hermes. It ranges

from 1.0 (positive) to 5.0 (negative).

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2009 - 31.12.2009

 

ASSETS                                  EUR         24,283,758.32

Fixed assets                           EUR          1,998,653.62

Intangible assets                     EUR            392,610.33

Concessions, licences, rights        EUR            392,610.33

Tangible assets                       EUR            751,108.90

Land / similar rights                EUR             78,265.33

Plant / machinery                    EUR             71,766.01

Other tangible assets / fixtures and

fittings                             EUR            598,430.36

Advance payments made / construction

in progress                          EUR              2,647.20

Financial assets                      EUR            854,934.39

Shares in participations /

subsidiaries and the like            EUR            854,934.39

Shares in related companies         EUR            846,934.39

Shares in investee companies        EUR              8,000.00

Current assets                         EUR         22,277,790.82

Stocks                                EUR          8,485,356.54

Raw materials, consumables and

supplies                             EUR          4,014,167.79

Finished goods / work in progress    EUR          6,493,245.06

Advance payments made                EUR             61,556.82

Minus received advance payments for

orders / installments for stocks     EUR         -2,083,613.13

Accounts receivable                   EUR         11,323,581.58

Trade debtors                        EUR          8,625,641.48

Amounts due from related companies   EUR          1,826,339.30

Amounts due from investee companies  EUR             54,265.56

Other debtors and assets             EUR            817,335.24

Liquid means                          EUR          2,468,852.70

Remaining other assets                 EUR              7,313.88

Accruals (assets)                     EUR              7,313.88

 

LIABILITIES                             EUR         24,283,758.32

Shareholders' equity                   EUR         10,469,567.27

Capital                               EUR          5,969,567.27

Capital of the fully liable partner

(LP, general partnership)            EUR             28,309.85

Capital contribution of gen.

partner/accounts of the pers. liable

shareholder                         EUR             28,309.85

Limited partner's capital / capital

of partially liable partner (LP)     EUR          5,941,257.42

Reserves                              EUR          4,500,000.00

Provisions                             EUR         10,111,734.92

Pension provisions and comparable

provisions                            EUR          4,908,169.00

Provisions for taxes                  EUR            528,390.00

Other / unspecified provisions        EUR          4,675,175.92

Liabilities                            EUR          3,680,510.26

Other liabilities                     EUR          3,680,510.26

Trade creditors (for IAS incl. bills

of exchange)                         EUR            759,958.83

Liabilities due to shareholders      EUR                  0.00

Liabililties due to related companiesEUR            108,582.62

Liabilities due to investee companiesEUR                705.60

Unspecified other liabilities        EUR          2,811,263.21

thereof liabilities from tax /

financial authorities               EUR            119,993.80

Other liabilities                      EUR             21,945.87

Deferrals (liabilities)               EUR             21,945.87

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

Sales                                  EUR         31,975,369.76

Inventory change + own costs (+/-)     EUR         -1,959,606.59

Inventory change (+/-)                EUR         -1,976,630.59

Capitalised own costs                 EUR             17,024.00

Other operating income                 EUR          1,157,650.96

Cost of materials                      EUR         11,322,700.97

Raw materials and supplies, purchased

goods                                 EUR         11,322,700.97

Gross result (+/-)                     EUR         19,850,713.16

Staff expenses                         EUR         10,019,359.84

Wages and salaries                    EUR          8,475,059.94

Social security contributions and

expenses for pension plans and

benefits                              EUR          1,544,299.90

Total depreciation                     EUR            462,988.74

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus.                                  EUR            462,988.74

Other operating expenses               EUR          5,784,420.89

Operating result from continuing

operations                             EUR          3,583,943.69

Interest result (+/-)                  EUR           -106,423.04

Interest and similar income           EUR             70,236.47

Interest and similar expenses         EUR            176,659.51

Financial result (+/-)                 EUR           -106,423.04

Result from ordinary operations (+/-)  EUR          3,477,520.65

Income tax / refund of income tax (+/-)EUR           -528,570.00

Other taxes / refund of taxes          EUR              1,658.17

Tax (+/-)                              EUR           -526,911.83

Annual surplus / annual deficit        EUR          2,950,608.82

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2008 - 31.12.2008

 

ASSETS                                  EUR         21,136,741.95

Fixed assets                           EUR          1,942,613.32

Intangible assets                     EUR            102,476.83

Concessions, licences, rights        EUR            102,476.83

Tangible assets                       EUR            928,620.43

Land / similar rights                EUR            111,407.08

Plant / machinery                    EUR             89,253.06

Other tangible assets / fixtures and

fittings                             EUR            718,386.52

Advance payments made / construction

in progress                          EUR              9,573.77

Financial assets                      EUR            911,516.06

Shares in participations /

subsidiaries and the like            EUR            911,516.06

Shares in related companies         EUR            903,516.06

Shares in investee companies        EUR              8,000.00

Current assets                         EUR         19,149,586.82

Stocks                                EUR         10,237,368.66

Raw materials, consumables and

supplies                             EUR          3,649,616.65

Finished goods / work in progress    EUR          8,654,134.44

Advance payments made                EUR             19,100.00

Minus received advance payments for

orders / installments for stocks     EUR         -2,085,482.43

Accounts receivable                   EUR          7,591,840.20

Trade debtors                        EUR          6,239,586.82

Amounts due from related companies   EUR            453,975.78

Amounts due from investee companies  EUR            116,229.66

Other debtors and assets             EUR            782,047.94

Liquid means                          EUR          1,320,377.96

Remaining other assets                 EUR             44,541.81

Accruals (assets)                     EUR             44,541.81

 

LIABILITIES                             EUR         21,136,741.95

Shareholders' equity                   EUR          7,520,342.71

Capital                               EUR          3,020,342.71

Capital of the fully liable partner

(LP, general partnership)            EUR             26,129.25

Capital contribution of gen.

partner/accounts of the pers. liable

shareholder                         EUR             26,129.25

Limited partner's capital / capital

of partially liable partner (LP)     EUR          2,994,213.46

Reserves                              EUR          4,500,000.00

Provisions                             EUR          9,832,713.34

Pension provisions and comparable

provisions                            EUR          4,737,250.00

Provisions for taxes                  EUR            740,294.00

Other / unspecified provisions        EUR          4,355,169.34

Liabilities                            EUR          3,763,418.68

Other liabilities                     EUR          3,763,418.68

Trade creditors (for IAS incl. bills

of exchange)                         EUR          1,059,860.06

Liabilities due to shareholders      EUR          2,500,694.44

Unspecified other liabilities        EUR            202,864.18

thereof liabilities from tax /

financial authorities               EUR            127,905.94

Other liabilities                      EUR             20,267.22

Deferrals (liabilities)               EUR             20,267.22

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

Sales                                  EUR         35,893,733.49

Inventory change + own costs (+/-)     EUR            467,548.97

Inventory change (+/-)                EUR            455,988.97

Capitalised own costs                 EUR             11,560.00

Other operating income                 EUR            851,316.33

Cost of materials                      EUR         11,504,435.19

Raw materials and supplies, purchased

goods                                 EUR         11,504,435.19

Gross result (+/-)                     EUR         25,708,163.60

Staff expenses                         EUR          9,853,483.23

Wages and salaries                    EUR          8,256,116.28

Social security contributions and

expenses for pension plans and

benefits                              EUR          1,597,366.95

Total depreciation                     EUR            465,256.05

Depreciation on tangible / intangible

asssets (incl. start-up and exp. of

bus.                                  EUR            465,256.05

Other operating expenses               EUR          8,992,390.25

Operating result from continuing

operations                             EUR          6,397,034.07

Interest result (+/-)                  EUR             37,505.64

Interest and similar income           EUR            110,689.46

Interest and similar expenses         EUR             73,183.82

Financial result (+/-)                 EUR             37,505.64

Result from ordinary operations (+/-)  EUR          6,434,539.71

Income tax / refund of income tax (+/-)EUR           -976,182.00

Tax (+/-)                              EUR           -976,182.00

Annual surplus / annual deficit        EUR          5,458,357.71

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.34

UK Pound

1

Rs.88.29

Euro

1

Rs.71.36

 

 

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.