MIRA INFORM REPORT

 

 

Report Date :

28.02.2013

 

IDENTIFICATION DETAILS

 

Correct Name :

JEANS FRITZ HANDELSGESELLSCHAFT FÜR MODE MBH

 

 

Registered Office :

Tengerner Str. 143, D 32609 Hüllhorst, Post Box 2016, D 32606 Hüllhorst

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.05.1997

 

 

Com. Reg. No.:

HRB 7399

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Retail sale of clothing

 

 

No. of Employees :

1,068

 

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

 

Jeans Fritz Handelsgesellschaft für Mode mbH

 

 

Company Address

 

Tengerner Str. 143

D 32609 Hüllhorst

Post Box:

2016, D 32606 Hüllhorst

Telephone:        05744/512-0

Telefax:             05744/512-111

Homepage:        www.jeans-fritz.de

E-mail:              info@jeans-fritz.de

 

 

VAT no.

 

DE812196694

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         1997

Begin of business

activities:                       01.05.1997

Shareholders'

agreement:                    28.04.1997

Registered on:               08.01.2002

Commercial Register:     Local court 32545 Bad Oeynhausen

under:                                       HRB 7399

Share capital:                 EUR            550,000.00

 

 

Shareholder

 

Opcon AG

Hauptstr. 53

CH 4127 Birsfelden

Legal form: Other legal form

Share:             EUR            380,650.00

 

Shareholder:

                      Ernst Otto Schäfer

                      Ernst-Barlach-Weg 4

                      D 32549 Bad Oeynhausen

                      born: 20.04.1956

                      Share:             EUR             56,450.00

 Shareholder:

                      Frank Eickmeier

                      Goltzstr. 14

                      D 32051 Herford

                      born: 11.06.1960

                      Share:             EUR             56,450.00

 Shareholder:

                      Ernst August Knollmann

                      Bünder Str. 177

                      D 32584 Löhne

                      born: 30.01.1953

                      Share:             EUR             56,450.00

 

 

Manager

 

Ernst Otto Schäfer

Ernst-Barlach-Weg 4

D 32549 Bad Oeynhausen

authorized to jointly represent the company

born: 20.04.1956

Profession: Businessman

 

Manager:

                      Frank Eickmeier

                      Goltzstr. 14

                      D 32051 Herford

                      authorized to jointly represent the company

                      born: 11.06.1960

Proxy

 

Ernst August Knollmann

Bünder Str. 177

D 32584 Löhne

authorized to jointly represent the company

born: 30.01.1953

 

 

COMPANY HISTORY

 

30.05.1997 - 08.01.2002  Jeans Fritz Handelsgesellschaft für Mode

                          mbH

                          Poststr. 22

                          D 32584 Löhne

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 12.08.1999 - 04.01.2011  Manager

                          Hans-Joachim Kühn

                          D 33719 Bielefeld

 

 

BUSINESS ACTIVITIES

 

 Sectors

 47710   Retail sale of clothing

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      Jeans Fritz Handelsgesellschaft für Mode mbH

                      Potsdamer Str. 148a

                      D 33719 Bielefeld

 Branch:

                      Jeans Fritz Handelsgesellschaft für Mode mbH

                      Friedrichstr. 129-133

                      D 40217 Düsseldorf

                      TEL.: 0211/30126722

 Branch:

                      Jeans Fritz Handelsgesellschaft für Mode mbH

                      Bahnhofstr.

                      D 33602 Bielefeld

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

 

Negative information:      We have no negative information at hand.

 

Balance sheet year:       2011

 

 

REAL ESTATE

 

Type of ownership:         proprietor

Share:                           100.00 %

Address                        Tengerner Str. 143

D 32609 Hüllhorst

 

Land register documents were not available.

 

 

BANKERS

 

Principal banks

STADTSPARKASSE BAD OEYNHAUSEN, BAD OEYNHAUSEN

Sort. code: 49051285, Account no.: 493999, BIC: WELADED1OEH

SPARKASSE HERFORD, HERFORD

Sort. code: 49450120, Account no.: 220267265, BIC: WLAHDE44XXX

 

Further bank

COMMERZBANK, HERFORD

Sort. code: 49440043, Account no.: 2580900, BIC: COBADEFF494

 

 

FINANCIAL FIGURES

 

 Turnover:            2011               EUR        122,607,371.00

                      2012               EUR         83,410,000.00

 Profit:              2011               EUR            433,753.00

 further business figures:

 Equipment:                              EUR          7,392,331.00

 Ac/ts receivable:                       EUR          1,174,946.00

 Liabilities:                            EUR         10,948,370.00

 Employees:                                                  1,068

 - Trainees:                                                   190

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 48.24

 Liquidity ratio:                   0.19

 Return on total capital [%]:       1.46

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 48.75

 Liquidity ratio:                   0.70

 Return on total capital [%]:      13.08

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 47.14

 Liquidity ratio:                   0.13

 Return on total capital [%]:       6.09

 

 Balance sheet ratios 01.01.2008 - 31.12.2008

 Equity ratio [%]:                 49.34

 Liquidity ratio:                   0.31

 Return on total capital [%]:       9.63

 

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         29,671,874.06

  Fixed assets                           EUR         10,456,029.54

   Intangible assets                     EUR            268,837.55

    Concessions, licences, rights        EUR            268,837.55

   Tangible assets                       EUR         10,187,191.99

    Land / similar rights                EUR          2,794,860.64

    Other tangible assets / fixtures and

    fittings                             EUR          7,392,331.35

  Current assets                         EUR         19,015,558.48

   Stocks                                EUR         13,000,400.00

    Finished goods / work in progress    EUR         13,000,400.00

   Accounts receivable                   EUR          1,174,945.67

    Trade debtors                        EUR             35,199.56

    Amounts due from related companies   EUR             40,390.98

    Other debtors and assets             EUR          1,099,355.13

   Liquid means                          EUR          4,840,212.81

  Remaining other assets                 EUR            200,286.04

   Accruals (assets)                     EUR            200,286.04

 

 LIABILITIES                             EUR         29,671,874.06

  Shareholders' equity                   EUR         14,314,183.91

   Capital                               EUR            550,000.00

    Subscribed capital (share capital)   EUR            550,000.00

   Reserves                              EUR          7,438,525.99

    Capital reserves                     EUR            823,941.37

    Retained earnings / revenue reserves EUR          6,614,584.62

   Balance sheet profit/loss (+/-)       EUR          6,325,657.92

    Profit / loss brought forward        EUR          5,891,905.05

    Annual surplus / annual deficit      EUR            433,752.87

  Provisions                             EUR          4,276,148.26

   Provisions for taxes                  EUR            446,453.26

   Other / unspecified provisions        EUR          3,829,695.00

  Liabilities                            EUR         10,948,369.72

   Financial debts                       EUR          2,770,247.37

    Liabilities due to banks             EUR          2,770,247.37

   Other liabilities                     EUR          8,178,122.35

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,710,400.97

    Liabililties due to related companiesEUR              1,191.68

    Unspecified other liabilities        EUR          4,466,529.70

     thereof liabilities from tax /

     financial authorities               EUR          2,416,557.94

  Other liabilities                      EUR            133,172.17

   Deferrals (liabilities)               EUR            133,172.17

 

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

 Code (HGB)

  Sales                                  EUR        122,607,370.87

  Inventory change + own costs (+/-)     EUR             79,000.00

   Capitalised own costs                 EUR             79,000.00

  Other operating income                 EUR          1,411,100.48

  Cost of materials                      EUR         52,015,538.73

   Raw materials and supplies, purchased

   goods                                 EUR         52,015,538.73

  Gross result (+/-)                     EUR         72,081,932.62

  Staff expenses                         EUR         32,901,771.15

   Wages and salaries                    EUR         27,170,030.10

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          5,731,741.05

  Total depreciation                     EUR          2,017,643.39

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          2,017,643.39

  Other operating expenses               EUR         35,609,650.97

  Operating result from continuing

  operations                             EUR          1,552,867.11

  Interest result (+/-)                  EUR           -196,299.91

   Interest and similar income           EUR             44,323.08

    thereof from related companies       EUR              3,875.00

   Interest and similar expenses         EUR            240,622.99

  Financial result (+/-)                 EUR           -196,299.91

  Result from ordinary operations (+/-)  EUR          1,356,567.20

  Income tax / refund of income tax (+/-)EUR           -892,802.40

  Other taxes / refund of taxes          EUR            -30,011.93

  Tax (+/-)                              EUR           -922,814.33

  Annual surplus / annual deficit        EUR            433,752.87

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         34,161,694.44

  Fixed assets                           EUR         10,729,541.62

   Intangible assets                     EUR            114,135.70

    Concessions, licences, rights        EUR            114,135.70

   Tangible assets                       EUR         10,615,405.92

    Land / similar rights                EUR          2,789,825.01

    Other tangible assets / fixtures and

    fittings                             EUR          7,825,580.91

  Current assets                         EUR         23,399,306.43

   Stocks                                EUR         12,997,000.00

    Finished goods / work in progress    EUR         12,997,000.00

   Accounts receivable                   EUR          2,741,374.39

    Trade debtors                        EUR             14,652.76

    Amounts due from related companies   EUR          2,000,777.78

    Other debtors and assets             EUR            725,943.85

   Liquid means                          EUR          7,660,932.04

  Remaining other assets                 EUR             32,846.39

   Accruals (assets)                     EUR             32,846.39

 

 LIABILITIES                             EUR         34,161,694.44

  Shareholders' equity                   EUR         16,683,991.04

   Capital                               EUR            549,843.29

    Subscribed capital (share capital)   EUR            549,843.29

   Reserves                              EUR          7,755,323.29

    Capital reserves                     EUR            823,941.37

    Retained earnings / revenue reserves EUR          6,931,381.92

   Balance sheet profit/loss (+/-)       EUR          8,378,824.46

    Profit / loss brought forward        EUR          3,918,066.22

    Annual surplus / annual deficit      EUR          4,460,758.24

  Provisions                             EUR          5,737,663.56

   Provisions for taxes                  EUR          1,263,621.14

   Other / unspecified provisions        EUR          4,474,042.42

  Liabilities                            EUR         11,589,567.63

   Financial debts                       EUR          2,827,071.34

    Liabilities due to banks             EUR          2,827,071.34

   Other liabilities                     EUR          8,762,496.29

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,985,013.32

    Liabililties due to related companiesEUR            624,470.05

    Unspecified other liabilities        EUR          4,153,012.92

     thereof liabilities from tax /

     financial authorities               EUR          2,160,479.67

  Other liabilities                      EUR            150,472.21

   Deferrals (liabilities)               EUR            150,472.21

 

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

 Code (HGB)

  Sales                                  EUR        126,373,258.60

  Inventory change + own costs (+/-)     EUR             73,500.00

   Capitalised own costs                 EUR             73,500.00

  Other operating income                 EUR          2,580,140.06

  Cost of materials                      EUR         51,594,235.28

   Raw materials and supplies, purchased

   goods                                 EUR         51,594,235.28

  Gross result (+/-)                     EUR         77,432,663.38

  Staff expenses                         EUR         33,301,269.72

   Wages and salaries                    EUR         27,796,228.06

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          5,505,041.66

  Total depreciation                     EUR          1,989,454.19

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          1,989,454.19

  Other operating expenses               EUR         35,145,206.04

  Operating result from continuing

  operations                             EUR          6,996,733.43

  Interest result (+/-)                  EUR            -29,771.49

   Interest and similar income           EUR            171,468.52

    thereof from related companies       EUR                777.78

   Interest and similar expenses         EUR            201,240.01

  Financial result (+/-)                 EUR            -29,771.49

  Result from ordinary operations (+/-)  EUR          6,966,961.94

  Income tax / refund of income tax (+/-)EUR         -2,467,110.34

  Other taxes / refund of taxes          EUR            -39,093.36

  Tax (+/-)                              EUR         -2,506,203.70

  Annual surplus / annual deficit        EUR          4,460,758.24

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.84

UK Pound

1

Rs.81.24

Euro

1

Rs.70.39

 

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.