|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE CHEMICALS
GMBH |
|
|
|
|
Registered Office : |
Spohrstr.
2 D 22083 Hamburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
04.09.1984 |
|
|
|
|
Com. Reg. No.: |
HRB
33240 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Wholesale
of chemical products |
|
|
|
|
No. of Employees : |
26 |
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 (31.03.2011) |
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
Globe Chemicals
GmbH
Company
Status: active
Spohrstr. 2
D 22083 Hamburg
Telephone:040/2715250
Telefax: 040/27152525
Homepage:
www.globe-chemicals.com
E-mail: info@globe-chemicals.com
DE118704050
71/860/01782
LEGAL
FORM Private limited company
Date
of foundation: 04.09.1984
Shareholders'
agreement: 04.09.1984
Registered
on: 09.10.1984
Commercial
Register: Local court 20355 Hamburg
under: HRB
33240
EUR 2,900,000.00
Klaus Wilhelm Kesting
Bellevue 40
D 22301 Hamburg
born: 28.12.1943
Share: EUR 1,940,000.00
Shareholder:
Herbert Braasch
Hagenau 62
D 22089 Hamburg
born: 09.03.1947
Share: EUR 580,000.00
Shareholder:
Olaf Busch
D 22083 Hamburg
born: 20.10.1967
Share: EUR 380,000.00
Manager:
Klaus Wilhelm Kesting
Bellevue 40
D 22301 Hamburg
having sole power of
representation
born: 28.12.1943
Profession: Businessman
Marital status: married
Manager:
Herbert Braasch
Hagenau 62
D 22089 Hamburg
having sole power of
representation
born: 09.03.1947
Profession: Businessman
Marital status: married
Manager:
Olaf Busch
D 22083 Hamburg
having sole power of
representation
born: 20.10.1967
Proxy:
Dirk Begier
D 22969 Witzhave
authorized to jointly
represent the company
born: 16.02.1966
FURTHER FUNCTIONS/PARTICIPATIONS OF
KLAUS WILHELM KESTING
(MANAGER)
Limited partner:
Grundstücksgesellschaft
Quedlinburg mbH &
Co. KG
Lippmannstr. 2-6
D 22769 Hamburg
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 30,680.51
contribution:
Share: EUR 13,654.49
Registered
on: 02.03.1999
Reg. data: 20355 Hamburg, HRA 92760
Limited partner:
P-S-A Grundstücksgesellschaft
Averhoffstr. 3
mbH & Co. KG
Sierichstr. 17
D 22301 Hamburg
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 2,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 07.03.2008
Reg. data: 20355 Hamburg, HRA 107962
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private
limited company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data: 20355 Hamburg, HRB 81436
Manager:
Kesting Holding GmbH
Bellevue 40
D 22301 Hamburg
Legal form: Private
limited company
Share capital: EUR 34,000.00
Registered
on: 13.12.2012
Reg. data: 20355 Hamburg, HRB 125606
Member of the Board of Directors:
Kesting-Fischer
gemeinnützige Stiftungs AG
Curienstr. 2
D 20095 Hamburg
Legal form: Public limited
company
Share capital: EUR 50,000.00
Registered
on: 03.04.2008
Reg. data: 20355 Hamburg, HRB 104799
FURTHER FUNCTIONS/PARTICIPATIONS OF
HERBERT BRAASCH (MANAGER)
Shareholder:
CYQUEST GmbH
Gärtnerstr. 20
D 20253 Hamburg
Post Box:
60 55 52, D 22250 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 700.00
Registered
on: 25.09.2001
Reg. data: 20355 Hamburg, HRB 81461
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private
limited company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data: 20355 Hamburg, HRB 81436
FURTHER FUNCTIONS/PARTICIPATIONS OF
OLAF BUSCH (MANAGER)
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private
limited company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data: 20355 Hamburg, HRB 81436
09.10.1984
- 08.05.1988 Globe Specialities
Fabrikationpharmazeutischer Präparate
GmbH
Spohrstr. 2
D 22083 Hamburg
Private limited
company
09.05.1988
- 07.10.1988 Globe Industriechemikalien
GmbH (HRB
31043 AG Hamburg)
Spohrstr. 2
D 22083 Hamburg
Private limited
company
07.10.1988
- 21.03.1997 GLOBE Food International
GmbH (HRB 52951
AG Hamburg)
Spohrstr. 2
D 22083 Hamburg
Private limited
company
Sectors
46750 Wholesale of chemical products
Shareholder:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 900,000.00
Share: EUR 900,000.00
Reg. data: 24.09.2001
Local court
20355 Hamburg
HRB 81436
Shareholder:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private limited
company
Company Status: active
Share capital: EUR 383,468.91
Share: EUR 383,468.91
Reg. data: 08.02.1965
Local court 20355 Hamburg
HRB 10805
Payment
experience: within agreed terms
Negative
information:We have no negative information at hand.
Balance
sheet year: 2011
Type
of ownership: Tenant
Address Spohrstr. 2
D 22083 Hamburg
Real
Estate of: Klaus Wilhelm Kesting
Type
of ownership: proprietor
Share: 100.00 %
Address Bellevue 40
D 22301 Hamburg
Real
Estate of: Herbert Braasch
Type
of ownership: Tenant
Address Hagenau 62
D 22089 Hamburg
Land
register documents were not available.
Principal
bank
DEUTSCHE
BANK, HAMBURG
Sort.
code: 20070000, BIC: DEUTDEHHXXX
Further
bank
COMMERZBANK
VORMALS DRESDNER BANK, HAMBURG
Sort.
code: 20080000, BIC: DRESDEFF200
Turnover: 2011 EUR 84,110,883.00
Profit: 2011 EUR 850,495.00
Equipment: EUR 69,818.00
Ac/ts
receivable:
EUR 15,306,283.00
Liabilities: EUR 11,049,922.00
Employees: 26
Balance
sheet ratios 01.01.2011 - 31.12.2011
Equity
ratio [%]: 31.31
Liquidity
ratio: 1.44
Return
on total capital [%]: 4.70
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 20.12
Liquidity
ratio: 0.97
Return
on total capital [%]: 4.46
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity
ratio [%]: 21.83
Liquidity
ratio: 1.18
Return
on total capital [%]: 1.01
Balance
sheet ratios 01.01.2008 - 31.12.2008
Equity
ratio [%]: 18.62
Liquidity
ratio: 0.99
Return
on total capital [%]: 0.20
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 18,083,502.35
Fixed assets EUR 1,240,693.77
Intangible assets EUR 236,707.00
Concessions, licences, rights EUR 236,707.00
Tangible assets EUR 69,817.50
Other tangible assets / fixtures and
fittings EUR 69,817.50
Financial assets EUR 934,169.27
Shares in participations /
subsidiaries and the like EUR 934,169.27
Shares in related companies EUR 881,459.42
Shares in investee companies EUR 52,709.85
Current assets EUR
16,626,317.50
Stocks EUR 905,109.61
Finished goods / work in progress EUR 807,391.95
Advance payments made EUR 174,226.70
Minus received advance payments for
orders / installments for stocks EUR -76,509.04
Accounts receivable EUR 15,306,283.12
Trade debtors EUR 14,329,207.31
Amounts due from related companies EUR
760,520.23
Other debtors and assets EUR 216,555.58
Liquid means EUR 414,924.77
Remaining other assets EUR 216,491.08
Accruals (assets) EUR 216,491.08
LIABILITIES EUR 18,083,502.35
Shareholders' equity EUR 5,661,613.29
Capital EUR 2,900,000.00
Subscribed capital (share capital) EUR
2,900,000.00
Balance sheet profit/loss (+/-) EUR 2,761,613.29
Balance sheet profit / loss EUR 2,761,613.29
Provisions EUR 1,371,966.93
Pension provisions and comparable
provisions EUR 162,992.73
Provisions for taxes EUR 258,355.63
Other / unspecified provisions EUR 950,618.57
Liabilities EUR 11,049,922.13
Financial debts EUR 6,409,025.59
Liabilities due to banks EUR 6,409,025.59
Other liabilities EUR 4,640,896.54
Trade creditors (for IAS incl. bills
of exchange) EUR 4,064,230.48
Liabililties due to related
companiesEUR 299,066.65
Unspecified other liabilities EUR 277,599.41
thereof liabilities from tax /
financial authorities EUR 40,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 84,110,883.28
Other operating income EUR 352,282.71
Cost of materials EUR 78,036,561.55
Raw materials and supplies, purchased
goods EUR 74,993,560.72
Purchased services EUR 3,043,000.83
Gross result (+/-) EUR 6,426,604.44
Staff expenses EUR 2,422,583.24
Wages and salaries EUR 2,116,724.31
Social security contributions and
expenses for pension plans and
benefits EUR 305,858.93
Total depreciation EUR 76,648.93
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 76,648.93
Other operating expenses EUR 2,142,860.43
Operating result from continuing
operations EUR 1,784,511.84
Interest result (+/-) EUR -453,154.11
Interest and similar income EUR 283,279.25
thereof from related companies EUR 192,000.00
Interest and similar expenses EUR 736,433.36
thereof paid to related companies EUR 101,000.00
Financial result (+/-) EUR -453,154.11
Result from ordinary operations (+/-) EUR
1,331,357.73
Income tax / refund of income tax
(+/-)EUR -479,113.23
Other taxes / refund of taxes EUR -1,750.00
Tax (+/-) EUR -480,863.23
Annual surplus / annual deficit EUR 850,494.50
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2010 - 31.12.2010
ASSETS EUR 23,991,953.31
Fixed assets EUR 1,102,240.82
Intangible assets EUR 252,860.05
Concessions, licences, rights EUR 244,054.05
Goodwill EUR 8,806.00
Tangible assets EUR 90,211.50
Other tangible assets / fixtures and
fittings EUR 90,211.50
Financial assets EUR 759,169.27
Shares in participations /
subsidiaries and the like EUR 759,169.27
Shares in related companies EUR 756,459.42
Shares in investee companies EUR 2,709.85
Current assets EUR 22,751,431.46
Stocks EUR 5,731,834.27
Finished goods / work in progress EUR
4,963,088.69
Advance payments made EUR 768,745.58
Accounts receivable EUR 16,919,404.51
Trade debtors EUR 15,010,111.51
Amounts due from related companies EUR
1,676,835.46
Other debtors and assets EUR 232,457.54
Liquid means EUR 100,192.68
Remaining other assets EUR 138,281.03
Accruals (assets) EUR 138,281.03
LIABILITIES EUR 23,991,953.31
Shareholders' equity EUR 4,811,118.79
Capital EUR 2,900,000.00
Subscribed capital (share capital) EUR
2,900,000.00
Balance sheet profit/loss (+/-) EUR 1,911,118.79
Balance sheet profit / loss EUR 1,911,118.79
Provisions EUR 1,688,227.49
Pension provisions and comparable
provisions EUR 83,084.00
Provisions for taxes EUR 410,378.12
Other / unspecified provisions EUR 1,194,765.37
Liabilities EUR 17,492,607.03
Financial debts EUR 10,387,470.93
Liabilities due to banks EUR 10,387,470.93
Other liabilities EUR 7,105,136.10
Trade creditors (for IAS incl. bills
of exchange) EUR 5,817,782.76
Liabilities from received advance
payments EUR 221,958.01
Liabililties due to related
companiesEUR 571,951.30
Unspecified other liabilities EUR 493,444.03
thereof liabilities from tax /
financial authorities EUR 248,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 73,727,074.34
Other operating income EUR 397,594.94
Cost of materials EUR 68,067,745.61
Raw materials and supplies, purchased
goods EUR 65,167,841.85
Purchased services EUR 2,899,903.76
Gross result (+/-) EUR 6,056,923.67
Staff expenses EUR 2,198,161.71
Wages and salaries EUR 2,000,363.72
Social security contributions and
expenses for pension plans and
benefits EUR 197,797.99
Total depreciation EUR 141,904.49
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 141,904.49
Other operating expenses EUR 1,735,298.96
Operating result from continuing
operations EUR 1,981,558.51
Result from participating interests
(+/-) EUR 7,464.00
Expenses / income from participations
EUR 7,464.00
Interest result (+/-) EUR -367,164.93
Interest and similar income EUR 194,348.94
thereof from related companies EUR 74,000.00
Interest and similar expenses EUR 561,513.87
thereof paid to related companies EUR 5,000.00
Financial result (+/-) EUR -359,700.93
Result from ordinary operations (+/-) EUR
1,621,857.58
Extraordinary expenses EUR 173,700.00
Extraordinary result (+/-) EUR -173,700.00
Income tax / refund of income tax
(+/-)EUR -555,625.34
Other taxes / refund of taxes EUR -1,750.00
Tax (+/-) EUR -557,375.34
Annual surplus / annual deficit EUR 890,782.24
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.82 |
|
|
1 |
Rs.87.99 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.