|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
JOCKEY GMBH |
|
|
|
|
Registered Office : |
Neustr. 12, D
72379 Hechingen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
Com. Reg. No.: |
HRB 420943 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Wholesale of clothing |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 |
Jockey GmbH
Neustr. 12
D 72379 Hechingen
Telephone: 07471/189-0
Telefax: 07471/189-120
Homepage: www.jockey.de
E-mail: info@jockey.de
53083/15571
LEGAL FORM Private
limited company
Date of
foundation: 2002
Shareholders'
agreement: 02.07.2002
Registered
on: 20.08.2002
Commercial
Register: Local court 70190 Stuttgart
under: HRB
420943
Share
capital: EUR 25,000.00
Jockey
International Inc.
USA Kenosha/Wisconsin
Legal form: Other
legal form
Share: EUR 25,000.00
Timothy Ralph
Wheeler
USA - Illionois
having sole power
of representation
born: 19.12.1954
Nationality: USA
Tony Harings
Hackersteigle 3
D 72076 Tübingen
born: 10.02.1963
Proxy:
Michael Dodt
D 75172 Pforzheim
having sole power
of representation
born: 04.10.1965
Proxy:
Jens Christoph
Noll
D 78628 Rottweil
having sole power
of representation
born: 06.01.1977
Proxy:
Todd William Bland
D 72393
Burladingen
having sole power
of representation
born: 01.03.1977
Secondary
industrial sector
46163 Agents involved in the sale of apparel
46421 Wholesale of clothing
47710 Retail sale of clothing
Payment
experience: within periods customary in
this trade
Negative
information:We have no negative information at hand.
Balance sheet
year: 2010
Type of
ownership: Tenant
Address Neustr. 12
D 72379 Hechingen
Land register
documents were not available.
SPARKASSE
ZOLLERNALB, BALINGEN
Sort. code:
65351260, BIC: SOLADES1BAL
Turnover: 2011 EUR 15,500,000.00
Equipment: EUR 364,307.00
Ac/ts receivable: EUR 4,025,669.00
Liabilities: EUR 6,573,181.00
Employees:
50
Balance sheet
ratios 01.01.2010 - 31.12.2010
Equity ratio
[%]: 16.12
Liquidity
ratio: 0.70
Return on total
capital [%]: -19.19
Balance sheet
ratios 01.01.2009 - 31.12.2009
Equity ratio
[%]: 79.12
Liquidity
ratio: 10.00
Return on total
capital [%]: -33.72
Balance sheet
ratios 01.01.2008 - 31.12.2008
Equity ratio
[%]: 65.83
Liquidity
ratio: 10.00
Return on total
capital [%]: -43.32
Balance sheet
ratios 01.01.2007 - 31.12.2007
Equity ratio [%]: 69.97
Liquidity
ratio: 10.00
Return on total
capital [%]: -33.09
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: 01.01.2010 - 31.12.2010
ASSETS EUR 9,378,552.53
Fixed assets EUR 457,017.07
Intangible assets EUR 92,710.32
Concessions,
licences, rights EUR 92,710.32
Tangible
assets EUR 364,306.75
Other tangible
assets / fixtures and
fittings EUR 364,306.75
Current assets EUR 8,875,869.58
Stocks EUR 3,811,609.30
Finished goods /
work in progress EUR 3,811,609.30
Accounts
receivable EUR 4,025,668.52
Trade debtors EUR 1,823,928.63
Amounts due from
related companies EUR 1,963,482.20
Other debtors and
assets EUR 238,257.69
Liquid means EUR 1,038,591.76
Remaining other
assets EUR 45,665.88
Accruals
(assets) EUR 45,665.88
LIABILITIES EUR 9,378,552.53
Shareholders'
equity EUR 597,131.76
Capital EUR 25,000.00
Subscribed capital
(share capital) EUR 25,000.00
Reserves EUR 18,402,026.27
Capital
reserves EUR 18,402,026.27
Balance sheet
profit/loss (+/-) EUR -17,829,894.51
Profit / loss
brought forward EUR -15,158,486.94
Annual surplus /
annual deficit EUR -2,671,407.57
Provisions EUR 2,208,239.66
Other / unspecified
provisions EUR 2,208,239.66
Liabilities EUR 6,573,181.11
Other
liabilities EUR 6,573,181.11
Trade creditors
(for IAS incl. bills
of exchange) EUR 498,329.65
Liabililties due to
related companiesEUR
5,904,201.05
Unspecified other
liabilities EUR 170,650.41
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 15,478,212.52
Other operating
income EUR 5,494.00
Cost of
materials EUR 9,444,225.42
Raw materials and
supplies, purchased
goods EUR 7,522,214.98
Purchased
services EUR 1,922,010.44
Gross result
(+/-) EUR 6,039,481.10
Staff expenses EUR 2,681,379.00
Wages and salaries EUR 2,315,570.20
Social security
contributions and
expenses for
pension plans and
benefits EUR 365,808.80
Total
depreciation EUR 29,059.90
Depreciation on
tangible / intangible
asssets (incl.
start-up and exp. of
bus. EUR 29,059.90
Other operating
expenses EUR 4,508,677.38
Operating result
from continuing
operations EUR -1,179,635.18
Interest result
(+/-) EUR -234,349.70
Interest and
similar income EUR 12,277.84
Interest and
similar expenses EUR 246,627.54
thereof paid to related
companies EUR 246,617.08
Financial result
(+/-) EUR -234,349.70
Result from
ordinary operations (+/-) EUR -1,413,984.88
Extraordinary
expenses EUR 1,257,422.69
Extraordinary result
(+/-) EUR -1,257,422.69
Annual surplus /
annual deficit EUR -2,671,407.57
Type of balance
sheet: Company balance sheet
Financial
year: 01.01.2009 - 31.12.2009
ASSETS EUR 8,066,514.84
Fixed assets EUR 35,143.54
Intangible
assets EUR 9,091.61
Other / unspecified
intangible assetsEUR
9,091.61
Tangible
assets EUR 26,051.93
Other / unspecified
tangible assets EUR 26,051.93
Current assets EUR 8,006,430.21
Stocks EUR 2,674,971.39
Accounts
receivable EUR 3,485,037.18
Other debtors and
assets EUR 3,485,037.18
Liquid means EUR 1,846,421.64
Remaining other
assets EUR 24,941.09
Accruals
(assets) EUR 24,941.09
LIABILITIES EUR 8,066,514.84
Shareholders'
equity EUR 668,539.33
Capital EUR 25,000.00
Subscribed capital (share
capital) EUR 25,000.00
Reserves EUR 15,802,026.27
Capital
reserves EUR 15,802,026.27
Balance sheet
profit/loss (+/-) EUR -15,158,486.94
Profit / loss
brought forward EUR -12,439,916.30
Annual surplus /
annual deficit EUR -2,718,570.64
Provisions EUR 1,100,004.09
Liabilities EUR 6,297,971.42
Other
liabilities EUR 6,297,971.42
Unspecified other
liabilities EUR 6,297,971.42
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result
(+/-) EUR 6,152,916.06
Staff expenses EUR 3,243,239.12
Wages and
salaries EUR 2,846,478.96
Social security
contributions and
expenses for
pension plans and
benefits EUR 396,760.16
Total depreciation EUR 32,265.92
Depreciation on
tangible / intangible
asssets (incl.
start-up and exp. of
bus. EUR 32,265.92
Other operating
expenses EUR 5,425,783.67
Operating result
from continuing
operations EUR -2,548,372.65
Interest result
(+/-) EUR -170,197.99
Interest and
similar income EUR 14,118.35
Interest and similar
expenses EUR 184,316.34
thereof paid to
related companies EUR 184,145.15
Financial result
(+/-) EUR -170,197.99
Result from
ordinary operations (+/-) EUR -2,718,570.64
Annual surplus /
annual deficit EUR -2,718,570.64
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.