MIRA
INFORM REPORT
|
Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
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Name : |
PETROFER GMBH |
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Registered Office : |
Romerring 12-16 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
302 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of industrial chemicals |
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No. of Employees : |
7 |
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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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.
Source
: CIA
COMPANY NAME AND ADDRESS
PETROFER
GMBH
Romerring 12-16
Hildesheim, 31137
Germany
Tel: +49 (0) 5121 76270
Fax: +49 (0) 5121 54438
Employees: 7
Company Type: Private
Subsidiary
Corporate Family: 6 Companies
Ultimate Parent: Fischer
Equity GmbH & Co. KG
Incorporation Date: 2000
Financials
in: USD (Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Euro
Annual Sales: 47.1
Total Assets: 22.7
Business Description
PETROFER 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
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Industry |
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ANZSIC 2006: |
3323 -
Industrial and Agricultural Chemical Product Wholesaling |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
5169 -
Chemicals and Allied Products, Not Elsewhere Classified |
Key Executives
|
Name |
Title |
Source |
|
Constantin Fischer |
chief Executive officer |
infoUSA |
Registered No.(DEU): 302
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Location
Romerring 12-16
Hildesheim, 31137
Germany
Tel: +49 (0)
5121 76270
Fax: +49 (0)
5121 54438
Sales EUR(mil): 33.9
Assets EUR(mil): 17.5
Employees: 7
Fiscal Year End: 31-Dec-2011
Industry: Chemical
Manufacturing
Incorporation Date: 2000
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered
No.(DEU): 302
Chief Executive officer: Constantin Fischer
Industry
Codes
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ANZSIC 2006 Codes: |
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3323 |
- |
Industrial and Agricultural Chemical Product Wholesaling |
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9539 |
- |
Other Personal Services Not Elsewhere Classified |
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NACE 2002 Codes: |
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5155 |
- |
Wholesale of chemical products |
|
9305 |
- |
Other service activities not elsewhere classified |
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NAICS 2002 Codes: |
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4246 |
- |
Chemical and Allied Products Merchant Wholesalers |
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8129 |
- |
Other Personal Services |
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US SIC 1987: |
||
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5169 |
- |
Chemicals and Allied Products, Not Elsewhere Classified |
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7299 |
- |
Miscellaneous Personal Services, Not Elsewhere Classified |
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UK SIC 2003: |
||
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5155 |
- |
Wholesale of chemical products |
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9305 |
- |
Other service activities not elsewhere classified |
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UK SIC 2007: |
||
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4675 |
- |
Wholesale of chemical products |
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9609 |
- |
Other personal service activities n.e.c. |
Business
Description
PETROFER 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.
More Business Descriptions
All Other Chemical Product and Preparation Manufacturing
Financial
Data
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Financials in: |
EUR(mil) |
1 Year Growth |
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Revenue: |
33.9 |
17.2% |
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Assets: |
17.5 |
NA |
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Current Assets: |
11.0 |
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Total Liabilities: |
17.5 |
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Issued Capital: |
0.6 |
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Net Worth: |
16.5 |
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Date of Financial Data: |
31-Dec-2011 |
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|
Company |
Percentage Owned |
Country |
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PETROFER U K PLC |
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England |
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Petrofer S.A.R.L |
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France |
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Petrofer Schweiz AG |
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Switzerland |
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PETROFER ASIA LTD |
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Hong Kong |
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Petrofer Chemie GmbH |
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Petrofer Bulgaria EgmbH |
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Petrofer-Polska Sp. z o.o |
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Shanghai Petrofer Special Lubricating Agent Co. Ltd |
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Petrocare Co. Ltd., |
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H.R. Fischer-Iberica 2000 S.L |
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Petrofer Latinoa mericano S.A. de C.V |
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Petrofer Benelux BV |
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Netherlands |
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Petrofer South Africa (Pty.) Ltd. |
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South Africa |
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Petrofer EndĂ¼striyel Yaglar Sanayi Ve Ticaret A.S |
|
Turkey |
Corporate
Structure News
Fischer
Equity GmbH & Co. KG
PETROFER GMBH
Total Corporate Family Members: 6
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Hildesheim, Niedersachsen |
Germany |
Consumer Financial Services |
161.1 |
581 |
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Subsidiary |
Hildesheim, Niedersachsen |
Germany |
Chemical Manufacturing |
91.9 |
250 |
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Subsidiary |
Celaya, Guanajuato |
Mexico |
Chemical Manufacturing |
2.0 |
10 |
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Subsidiary |
Hildesheim, Niedersachsen |
Germany |
Chemical Manufacturing |
47.1 |
7 |
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Subsidiary |
Cigli, Izmir |
Turkey |
Miscellaneous Capital Goods |
|
100 |
|
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Subsidiary |
Telford |
United Kingdom |
Chemical Manufacturing |
4.5 |
13 |
Executives
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chief Executive officer |
Chief Executive Officer |
Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Total income |
47.1 |
38.3 |
30.9 |
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Raw materials and services |
40.2 |
32.7 |
26.3 |
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Net sales |
47.1 |
38.3 |
30.9 |
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Other operating income |
2.0 |
0.6 |
0.3 |
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Raw materials and consumables employed |
40.2 |
32.7 |
26.3 |
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Cost of goods sold |
40.2 |
32.7 |
26.3 |
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Cost of raw materials |
40.2 |
32.7 |
26.3 |
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Taxes and social security costs |
0.2 |
0.2 |
0.2 |
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Total payroll costs |
1.1 |
1.0 |
1.0 |
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Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
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Other operating costs |
6.3 |
6.5 |
4.9 |
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Net operating
income |
4.7 |
2.0 |
1.5 |
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Interest received from loans |
0.7 |
0.6 |
0.4 |
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Income received from associated companies |
0.0 |
0.0 |
0.0 |
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Other income |
0.3 |
0.5 |
0.4 |
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Interest payable on loans |
0.1 |
0.0 |
0.0 |
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Other expenses |
0.0 |
0.0 |
1.0 |
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Total expenses |
-0.9 |
-1.0 |
0.1 |
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Profit before tax |
5.7 |
3.0 |
1.4 |
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Extraordinary income |
- |
0.0 |
- |
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Provisions |
0.6 |
1.1 |
1.7 |
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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 |
1.3 |
0.9 |
0.6 |
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Net profit |
4.3 |
2.1 |
0.8 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.8 |
0.8 |
0.9 |
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Capital reserves |
0.3 |
0.3 |
0.3 |
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Total reserves |
0.1 |
0.1 |
- |
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Profits for the year |
20.3 |
16.8 |
15.8 |
|
Profit brought forward from previous
year(s) |
16.3 |
14.8 |
15.0 |
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Total
stockholders equity |
21.5 |
18.0 |
16.9 |
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Deferred taxation |
0.2 |
0.3 |
- |
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Other provisions |
0.1 |
0.1 |
0.1 |
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Provision for pensions |
0.2 |
0.4 |
1.6 |
|
Provisions and allowances |
0.6 |
1.1 |
1.7 |
|
Trade creditors |
0.1 |
0.1 |
0.0 |
|
Advances received |
- |
- |
0.1 |
|
Other loans |
0.0 |
0.0 |
0.0 |
|
Taxation and social security |
0.1 |
0.1 |
0.2 |
|
Due to group companies |
- |
- |
1.6 |
|
Total current
liabilities |
0.2 |
0.2 |
2.0 |
|
Total liabilities
(including net worth) |
22.7 |
19.3 |
20.6 |
|
Patents |
- |
0.0 |
0.0 |
|
Intangibles |
- |
0.0 |
0.0 |
|
Total tangible
fixed assets |
0.0 |
0.0 |
0.0 |
|
Long-term investments |
0.4 |
0.5 |
0.5 |
|
Shares held in associated companies |
7.5 |
7.4 |
8.1 |
|
Deposits |
- |
- |
0.7 |
|
Total financial
assets |
7.9 |
7.8 |
9.3 |
|
Total
non-current assets |
7.9 |
7.8 |
9.3 |
|
Finished goods |
0.2 |
0.1 |
- |
|
Net stocks and work in progress |
0.2 |
0.1 |
- |
|
Trade debtors |
3.7 |
3.3 |
2.5 |
|
Other receivables |
0.2 |
0.2 |
0.4 |
|
Total
receivables |
13.9 |
10.7 |
11.1 |
|
Owing from associated companies |
10.0 |
7.2 |
8.1 |
|
Owing from participants |
0.1 |
0.0 |
0.0 |
|
Cash and liquid assets |
0.2 |
0.2 |
0.3 |
|
Recoverable taxation |
0.4 |
0.3 |
- |
|
Total current
assets |
14.3 |
11.1 |
11.3 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
|
Total assets |
22.7 |
19.3 |
20.6 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
668.14 |
690.36 |
57.94 |
|
Acid test ratio |
658.93 |
681.14 |
57.94 |
|
Total liabilities to net worth |
0.00% |
0.00% |
0.01% |
|
Net worth to total assets |
0.09% |
0.09% |
0.08% |
|
Current liabilities to net worth |
0.00% |
0.00% |
0.01% |
|
Current liabilities to stock |
0.11% |
0.11% |
- |
|
Fixed assets to net worth |
0.04% |
0.04% |
0.05% |
|
Collection period |
303.00 |
307.00 |
281.00 |
|
Stock turnover rate |
0.04 |
0.04 |
- |
|
Profit margin |
0.01% |
0.01% |
0.00% |
|
Return on assets |
0.02% |
0.01% |
0.00% |
|
Shareholders' return |
0.02% |
0.01% |
0.00% |
|
Sales per employee |
484.19 |
413.03 |
278.16 |
|
Profit per employee |
44.46 |
22.20 |
6.98 |
|
Average wage per employee |
11.29 |
10.27 |
8.75 |
|
Net worth |
21.5 |
18.0 |
16.9 |
|
Number of employees |
7 |
7 |
8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
|
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.