MIRA INFORM REPORT

 

 

Report Date :

18.04.2013

 

IDENTIFICATION DETAILS

 

Name :

ATLANTIC CHEMICALS TRADING GMBH

 

 

Registered Office :

Hermannstr. 46, D 20095 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

16.08.1985

 

 

Com. Reg. No.:

HRB 34943

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of other chemical products

 

 

No. of Employees :

30

 

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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. 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 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. 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 electricity generating capacity and 46% of its base-load electricity production.

 

Source : CIA

 

Company name

 

ATLANTIC Chemicals Trading GmbH

 

 

Company address

 

Hermannstr. 46

D 20095 Hamburg

Telephone:        040/3344190

Telefax:             040/33441919

Homepage:        www.act.de

E-mail:               germany@act.de

 

 

VAT no.

 

DE118522219

 

 

Company Status

 

active

 

 

synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         16.08.1985

Shareholders'

agreement:                    20.08.1985

Registered on:               30.09.1985

Commercial Register:     Local court 20355 Hamburg

under:                                       HRB 34943

Share capital:                 EUR          4,000,000.00

 

 

Shareholder

 

Dr.rer.nat. Ramin Ghaffari-Tabrizi

Höltystr. 15

D 22085 Hamburg

born: 10.01.1958

Share:             EUR          4,000,000.00

 

Manager

 

Dr.rer.nat. Ramin Ghaffari-Tabrizi

Höltystr. 15

D 22085 Hamburg

born: 10.01.1958

Profession: Businessman

Marital status: married

 

 

Proxy

 

Oliver Leptien

D 22926 Ahrensburg

having sole power of representation

born: 03.08.1970

 

Proxy:

                     Matthias Lohmann

                     D 20095 Hamburg

                     having sole power of representation

                     born: 14.12.1974

 

 

Further functions/participations of Dr.rer.nat. Ramin

 

Ghaffari-Tabrizi (Manager)

 

Shareholder:

                     Europe-Asia Import Export G.m.b.H.

                     Hermannstr. 40

                     D 20095 Hamburg

                     Legal form: Private limited company

                     Share capital:     EUR             52,000.00

                     Share:             EUR             26,000.00

                     Registered

                     on:         28.02.1964

                     Reg. data:  20355 Hamburg, HRB 10472

 

 

BUSINESS ACTIVITIES

 

Sectors

·         20590   Manufacture of other chemical products n.e.c.

·         32501   Manufacture of technical instruments and supplies for medical purposesn.e.c.

·         46462   Wholesale of medical and orthopedic goods, dental and laboratory supplies

·         46750   Wholesale of chemical products

 

 

PARTICIPATIONS

 

Shareholder:

                     Europe-Asia Import Export G.m.b.H.

                     Hermannstr. 40

                     D 20095 Hamburg

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR             52,000.00

                     Share:             EUR              5,200.00

                     Reg. data:  28.02.1964

                                 Local court 20355 Hamburg

                                 HRB 10472

 

 

FINANCIAL INFORMATION

 

Payment experience:     within periods customary in this trade

Negative information:      We have no negative information at hand.

Balance sheet year:       2011

 

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Hermannstr. 46

                                    D 20095 Hamburg

 

Real Estate of:               Dr.rer.nat. Ramin Ghaffari-Tabrizi

Type of ownership:         Tenant

Address                        Höltystr. 15

                                    D 22085 Hamburg

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

WARBURG, M.M.- BANK, HAMBURG

Sort. code: 20120100, BIC: WBWCDEHHXXX

 

Further banks

COMMERZBANK, HAMBURG

Sort. code: 20040000, BIC: COBADEHHXXX

 

DZ BANK, HAMBURG

Sort. code: 20060000, BIC: GENODEFF200

 

HSH NORDBANK HAMBURG, KIEL, KIEL

Sort. code: 21050000, BIC: HSHNDEHHXXX

 

 

FINANCIAL FIGURES

 

Turnover:            2011               EUR         79,635,498.00

                     2012               EUR         79,600,000.00

Profit:              2011               EUR            458,778.00

further business figures:

Equipment:                              EUR            438,393.00

Ac/ts receivable:                       EUR         15,132,776.00

Liabilities:                            EUR         18,989,663.00

Total numbers of vehicles:                                      5

- Passenger cars:                                               5

Employees:                                                     30

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2011 - 31.12.2011

Equity ratio [%]:                 22.13

Liquidity ratio:                   0.81

Return on total capital [%]:       1.79

 

Balance sheet ratios 01.01.2010 - 31.12.2010

Equity ratio [%]:                 19.93

Liquidity ratio:                   0.87

Return on total capital [%]:       3.04

 

Balance sheet ratios 01.01.2009 - 31.12.2009

Equity ratio [%]:                 22.00

Liquidity ratio:                   1.02

Return on total capital [%]:       6.22

 

Balance sheet ratios 01.01.2008 - 31.12.2008

Equity ratio [%]:                 17.21

Liquidity ratio:                   0.89

Return on total capital [%]:       4.21

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.

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2011 - 31.12.2011

 

ASSETS                                  EUR         25,679,691.07

 Fixed assets                           EUR          1,612,802.92

  Intangible assets                     EUR              2,810.00

   Concessions, licences, rights        EUR              2,810.00

  Tangible assets                       EUR            438,393.45

   Other tangible assets / fixtures and

   fittings                             EUR            438,393.45

  Financial assets                      EUR          1,171,599.47

   Shares in participations /

   subsidiaries and the like            EUR          1,144,699.47

    Shares in related companies         EUR          1,114,699.47

    Shares in investee companies        EUR             30,000.00

   Securities included in fixed assets  EUR             26,900.00

 Current assets                         EUR         23,986,923.35

  Stocks                                EUR          8,823,198.73

   Finished goods / work in progress    EUR          8,215,034.50

   Advance payments made                EUR            608,164.23

  Accounts receivable                   EUR         15,132,775.89

   Trade debtors                        EUR          9,920,671.59

   Amounts due from related companies   EUR          3,588,471.79

   Other debtors and assets             EUR          1,623,632.51

  Liquid means                          EUR             30,948.73

 Remaining other assets                 EUR             79,964.80

  Accruals (assets)                     EUR             79,964.80

 

LIABILITIES                             EUR         25,679,691.07

 Shareholders' equity                   EUR          5,424,053.83

  Capital                               EUR          3,000,000.00

   Subscribed capital (share capital)   EUR          3,000,000.00

  Reserves                              EUR          1,000,000.00

   Retained earnings / revenue reserves EUR          1,000,000.00

  Balance sheet profit/loss (+/-)       EUR          1,424,053.83

   Balance sheet profit / loss          EUR          1,424,053.83

 Provisions                             EUR          1,265,974.00

  Pension provisions and comparable

  provisions                            EUR            483,140.00

  Provisions for taxes                  EUR              9,730.00

  Other / unspecified provisions        EUR            773,104.00

 Liabilities                            EUR         18,989,663.24

  Financial debts                       EUR         12,463,735.14

   Liabilities due to banks             EUR         12,463,735.14

  Other liabilities                     EUR          6,525,928.10

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR          5,951,853.53

   Liabilities from received advance

   payments                             EUR              1,973.41

   Liabililties due to related companiesEUR            142,652.98

   Unspecified other liabilities        EUR            429,448.18

    thereof liabilities from tax /

    financial authorities               EUR             47,035.18

    thereof liabilities from social

    security                            EUR                  0.00

 

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

Code (HGB)

 Sales                                  EUR         79,635,497.99

 Other operating income                 EUR            309,895.00

 Cost of materials                      EUR         70,780,217.99

 Gross result (+/-)                     EUR          9,165,175.00

 Staff expenses                         EUR          2,127,774.21

  Wages and salaries                    EUR          1,881,151.92

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR            246,622.29

 Total depreciation                     EUR            166,322.64

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR            166,322.64

 Other operating expenses               EUR          5,267,752.15

 Operating result from continuing

 operations                             EUR          1,603,326.00

 Interest result (+/-)                  EUR           -844,592.98

  Interest and similar income           EUR             41,654.27

  Interest and similar expenses         EUR            886,247.25

 Financial result (+/-)                 EUR           -844,592.98

 Result from ordinary operations (+/-)  EUR            758,733.02

 Income tax / refund of income tax (+/-)EUR           -268,417.19

 Other taxes / refund of taxes          EUR            -31,537.40

 Tax (+/-)                              EUR           -299,954.59

 Annual surplus / annual deficit        EUR            458,778.43

 

Type of balance

sheet:               Company balance sheet

 

Financial year:      01.01.2010 - 31.12.2010

 

ASSETS                                  EUR         24,905,114.43

 Fixed assets                           EUR          1,123,225.63

  Intangible assets                     EUR              5,695.00

   Other / unspecified intangible assetsEUR              5,695.00

  Tangible assets                       EUR            567,865.00

   Other / unspecified tangible assets  EUR            567,865.00

  Financial assets                      EUR            549,665.63

   Other / unspecified financial assets EUR            549,665.63

 Current assets                         EUR         23,716,722.71

  Stocks                                EUR          8,032,257.46

  Accounts receivable                   EUR         15,642,991.89

   Other debtors and assets             EUR         15,642,991.89

  Liquid means                          EUR             41,473.36

 Remaining other assets                 EUR             65,166.09

  Accruals (assets)                     EUR             65,166.09

 

LIABILITIES                             EUR         24,905,114.43

 Shareholders' equity                   EUR          4,965,275.40

  Capital                               EUR          3,000,000.00

   Subscribed capital (share capital)   EUR          3,000,000.00

  Reserves                              EUR          1,000,000.00

   Retained earnings / revenue reserves EUR          1,000,000.00

  Balance sheet profit/loss (+/-)       EUR            965,275.40

   Balance sheet profit / loss          EUR            965,275.40

 Provisions                             EUR          1,864,182.00

 Liabilities                            EUR         18,075,657.03

  Other liabilities                     EUR         18,075,657.03

   Unspecified other liabilities        EUR         18,075,657.03

 

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

Code (HGB)

 Gross result (+/-)                     EUR          9,597,276.72

 Staff expenses                         EUR          2,170,751.75

  Wages and salaries                    EUR          1,884,191.30

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR            286,560.45

 Total depreciation                     EUR            151,984.46

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR            151,984.46

 Other operating expenses               EUR          5,564,861.36

 Operating result from continuing

 operations                             EUR          1,709,679.15

 Interest result (+/-)                  EUR           -650,713.56

  Interest and similar income           EUR             81,381.24

  Interest and similar expenses         EUR            732,094.80

 Financial result (+/-)                 EUR           -650,713.56

 Result from ordinary operations (+/-)  EUR          1,058,965.59

 Income tax / refund of income tax (+/-)EUR           -297,684.06

 Other taxes / refund of taxes          EUR             -4,227.00

 Tax (+/-)                              EUR           -301,911.06

 Annual surplus / annual deficit        EUR            757,054.53

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.94

UK Pound

1

Rs.82.77

Euro

1

Rs.71.05

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.