MIRA
INFORM REPORT
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Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ALBERDINGK BOLEY GMBH |
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Registered Office : |
Düsseldorfer Strasse 53 Krefeld, 47829 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.12.1989 |
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Com. Reg. No.: |
4051 |
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Legal Form : |
Private Parent |
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Line of Business : |
Manufacture of other organic basic chemicals |
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No. of Employees : |
255 |
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 : |
Slow but correct |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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.
Source
: CIA
Company name and address
Alberdingk Boley
GmbH
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Business
Description
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Alberdingk Boley GmbH produces binders for paint and ink. It also
offers water-based polymer emulsions for house paints. The company
additionally manufactures polymer dispersions for architectural coatings and
plasters. It also offers polyurethane dispersions for coating on wood,
plastic, cork and metal. In addition, the company provides linseed and castor
oil for varnishes, pharmaceuticals and cosmetics. Its water-based
polyurethane and acrylate dispersions feature weather-, abrasion- and
weather-resistance. The company additionally offers dispersions for textile
and leather, adhesives and surface coatings. |
Industry
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Industry |
Chemical Manufacturing |
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ANZSIC 2006: |
1812 - Basic Organic Chemical
Manufacturing |
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NACE 2002: |
2414 - Manufacture of other organic basic
chemicals |
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NAICS 2002: |
32519 - Other Basic Organic Chemical
Manufacturing |
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UK SIC 2003: |
2414 - Manufacture of other organic basic
chemicals |
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UK SIC 2007: |
2014 - Manufacture of other organic basic
chemicals |
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US SIC 1987: |
2869 - Industrial Organic Chemicals, Not
Elsewhere Classified |
Key Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Corporate Structure News
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Total Corporate
Family Members: 3 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Krefeld, Nordrhein-Westfalen |
Germany |
Chemical Manufacturing |
191.8 |
255 |
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Subsidiary |
Krefeld, Nordrhein-Westfalen |
Germany |
Business Services |
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2 |
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Subsidiary |
Krefeld, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
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2 |
Executives Report
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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 |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
191.8 |
149.0 |
171.5 |
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Raw materials and services |
148.6 |
95.8 |
128.9 |
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Net sales |
191.8 |
149.0 |
171.5 |
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Change in stock |
5.6 |
-6.9 |
5.3 |
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Own work capitalised |
0.1 |
0.1 |
- |
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Other operating income |
1.1 |
1.2 |
2.1 |
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Raw materials and consumables employed |
148.6 |
95.8 |
128.9 |
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Other external charges |
0.2 |
2.3 |
2.5 |
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Cost of goods sold |
148.8 |
98.1 |
131.4 |
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Cost of raw materials |
148.8 |
98.1 |
131.4 |
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Taxes and social security costs |
3.7 |
4.3 |
4.2 |
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Total payroll costs |
20.7 |
19.9 |
21.3 |
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Fixed asset depreciation and amortisation |
2.1 |
2.1 |
1.9 |
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Other operating costs |
36.5 |
28.8 |
32.7 |
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Net operating income |
8.8 |
9.0 |
8.0 |
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Interest received from loans |
0.0 |
0.2 |
0.7 |
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Income received from associated companies |
0.0 |
0.2 |
0.9 |
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Other income |
0.1 |
0.3 |
0.3 |
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Interest payable on loans |
2.3 |
1.5 |
1.6 |
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Total expenses |
1.5 |
0.2 |
-0.3 |
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Profit before tax |
7.4 |
8.8 |
8.3 |
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Extraordinary income |
0.2 |
- |
- |
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Provisions |
14.3 |
13.7 |
14.8 |
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Extraordinary expenses |
0.2 |
12.6 |
- |
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Extraordinary result |
0.0 |
-12.6 |
- |
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Other taxes |
0.1 |
0.2 |
0.1 |
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Total taxation |
2.1 |
2.6 |
2.1 |
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Net profit |
5.2 |
- |
6.1 |
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Net loss |
- |
-6.6 |
- |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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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 |
20.1 |
21.5 |
17.8 |
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Capital reserves |
20.3 |
21.7 |
24.1 |
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Special reserves |
4.0 |
3.0 |
2.9 |
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Statutory reserves |
- |
14.0 |
12.4 |
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Other reserves |
19.5 |
20.1 |
19.4 |
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Total reserves |
23.5 |
37.1 |
34.7 |
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Profits for the year |
5.3 |
-5.6 |
5.8 |
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Profit brought forward from previous year(s) |
- |
1.2 |
- |
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Total stockholders equity |
69.2 |
74.7 |
82.5 |
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Deferred taxation |
1.2 |
1.3 |
- |
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Other provisions |
3.3 |
3.2 |
5.1 |
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Provision for pensions |
10.0 |
9.7 |
9.0 |
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Provisions and allowances |
14.5 |
14.1 |
14.1 |
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Other debentures |
11.9 |
6.1 |
6.3 |
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Taxes and social security |
0.6 |
0.6 |
0.4 |
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Total long-term liabilities |
12.6 |
6.7 |
6.7 |
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Trade creditors |
9.9 |
4.6 |
4.6 |
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Advances received |
- |
0.0 |
- |
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Other loans |
11.1 |
3.1 |
15.9 |
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Taxation and social security |
2.1 |
2.4 |
2.5 |
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Other current liabilities |
12.5 |
11.5 |
12.1 |
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Due to group companies |
0.0 |
0.6 |
0.3 |
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Owing to participants |
0.1 |
0.1 |
0.0 |
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Total current liabilities |
35.7 |
22.4 |
35.4 |
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Total liabilities (including net worth) |
132.1 |
117.9 |
138.6 |
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Patents |
0.5 |
0.3 |
0.4 |
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Goodwill |
- |
0.0 |
0.0 |
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Intangibles |
0.5 |
0.3 |
0.4 |
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Land and buildings |
10.3 |
11.1 |
10.8 |
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Machinery and tools |
7.0 |
5.9 |
4.8 |
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Fixtures and equipment |
10.3 |
11.1 |
10.8 |
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Fixed assets under construction |
0.8 |
2.6 |
0.8 |
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Total tangible fixed assets |
18.6 |
20.2 |
17.1 |
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Long-term investments |
4.4 |
4.4 |
4.2 |
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Other financial assets |
0.0 |
- |
0.0 |
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Shares held in associated companies |
16.2 |
17.3 |
29.3 |
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Total financial assets |
46.8 |
49.8 |
61.2 |
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Loans to associated companies |
26.2 |
28.0 |
27.6 |
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Total non-current assets |
66.0 |
70.3 |
78.6 |
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Raw materials |
8.0 |
5.9 |
4.8 |
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Finished goods |
24.1 |
12.1 |
25.0 |
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Prepayments |
- |
0.3 |
- |
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Net stocks and work in progress |
32.1 |
18.4 |
29.8 |
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Trade debtors |
20.9 |
13.6 |
14.2 |
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Other receivables |
2.8 |
3.0 |
4.7 |
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Total receivables |
33.6 |
25.1 |
26.2 |
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Owing from associated companies |
8.9 |
6.2 |
3.4 |
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Owing from participants |
1.0 |
2.3 |
3.9 |
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Cash and liquid assets |
0.2 |
1.0 |
1.0 |
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Short-term investments |
- |
3.0 |
2.9 |
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Other current assets |
- |
3.0 |
2.9 |
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Total current assets |
66.0 |
47.5 |
59.9 |
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Prepaid expenses and deferred costs |
0.1 |
0.1 |
0.0 |
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Total assets |
132.1 |
117.9 |
138.6 |
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Annual Ratios |
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Financials in:
USD (mil) |
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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 |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
18.45 |
21.20 |
16.95 |
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Acid test ratio |
9.48 |
13.00 |
8.53 |
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Total liabilities to net worth |
0.07% |
0.04% |
0.05% |
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Net worth to total assets |
0.05% |
0.06% |
0.06% |
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Current liabilities to net worth |
0.05% |
0.03% |
0.04% |
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Current liabilities to stock |
0.11% |
0.12% |
0.12% |
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Fixed assets to net worth |
0.10% |
0.09% |
0.10% |
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Collection period |
394.00 |
325.00 |
318.00 |
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Stock turnover rate |
1.65 |
1.20 |
1.83 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.01% |
0.00% |
0.01% |
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Shareholders' return |
0.01% |
-0.01% |
0.01% |
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Sales per employee |
60.34 |
43.38 |
48.85 |
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Profit per employee |
1.64 |
1.74 |
1.75 |
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Average wage per employee |
6.51 |
5.79 |
6.06 |
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Net worth |
69.2 |
74.7 |
82.5 |
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Number of employees |
240 |
247 |
240 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.97 |
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|
1 |
Rs.89.02 |
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Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.