|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
STEINHOFF
GMBH & CIE. OHG |
|
|
|
|
Registered Office : |
Gerhard-Malina-Str. 65 D 46537 Dinslaken Post Box:10 05 64, D 46525 Dinslaken |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Incorporation : |
1908 |
|
|
|
|
Com. Reg. No.: |
HRA 6997 |
|
|
|
|
Legal Form : |
General
partnership with private limited
company as partner |
|
|
|
|
Line of Business : |
Manufacture
of machinery for metallurgy |
|
|
|
|
No. of Employees : |
195 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
Steinhoff GmbH & Cie. OHG
Company Status: active
Gerhard-Malina-Str. 65
D 46537 Dinslaken
Post
Box:
10 05
64, D 46525 Dinslaken
Telephone:02064/44690
Telefax: 02064/50029
Homepage: www.steinhoff.eu
E-mail: info@tsteinhoff.eu
DE119066346
Business relations are
permissible.
LEGAL FORM General
partnership with private limited
Company as partner
Date of foundation: 1908
Registered on: 18.03.1987
Register of
companies: Local
court 47051 Duisburg
under: HRA
6997
RG
Verwaltungs-GmbH
Gerhard-Malina-Str. 65
D
46537 Dinslaken
Legal
form: Private limited company
Share
capital: EUR 25,564.59
Registered on: 03.08.1999
Reg.
data: 47051 Duisburg, HRB 10144
Shareholder:
Otto Friedrich Steinhoff
Mozartstr. 4
D
46535 Dinslaken
born:
11.09.1953
Share: EUR 25,564.59
Manager:
Otto Friedrich Steinhoff
Mozartstr. 4
D
46535 Dinslaken
having
sole power of representation
born:
11.09.1953
Profession: Fully qualified
merchant
Marital status: married
Manager:
Karl
Steinhoff
Rheinaue 41
D
46535 Dinslaken
having
sole power of representation
born:
24.05.1953
Profession: Fully qualified economic
engineer
General partner:
HB
Verwaltungs-GmbH
Gerhard-Malina-Str. 65
D 46537 Dinslaken
Legal
form: Private limited company
Share
capital: EUR 25,564.59
Registered on: 01.09.1999
Reg.
data: 47051 Duisburg, HRB 10150
Otto Friedrich Steinhoff
Mozartstr. 4
D
46535 Dinslaken
born:
11.09.1953
Share: EUR 12,782.30
Shareholder:
Karl
Steinhoff
Rheinaue 41
D
46535 Dinslaken
born:
24.05.1953
Share: EUR 12,782.29
Manager:
Otto
Friedrich Steinhoff
Mozartstr. 4
D
46535 Dinslaken
having
sole power of representation
born:
11.09.1953
Profession: Fully qualified merchant
Marital status: married
Manager:
Karl
Steinhoff
Rheinaue 41
D
46535 Dinslaken
having
sole power of representation
born:
24.05.1953
Profession: Fully qualified economic
engineer
General partner:
BS
Verwaltungs-GmbH
Gerhard-Malina-Str. 65
D
46537 Dinslaken
Legal form: Private limited
company
Share
capital: EUR 25,564.59
Registered on: 15.11.1999
Reg.
data: 47051 Duisburg, HRB 10161
Shareholder:
Otto
Friedrich Steinhoff
Mozartstr. 4
D
46535 Dinslaken
born:
11.09.1953
Share: EUR 25,564.59
Manager:
Otto Friedrich Steinhoff
Mozartstr. 4
D
46535 Dinslaken
born:
11.09.1953
Profession: Fully qualified merchant
Marital status: married
Proxy:
Horst Deinert
Hedwigstr. 173
D
46537 Dinslaken
authorized to jointly represent the company
Proxy:
Herbert Dittmann
D
40721 Hilden
authorized to jointly represent
the company
born:
12.05.1960
Main industrial sector
28910 Manufacture of machinery for metallurgy
Secondary industrial sector
96090 Other service activities n. e. c.
Payment experience: cash
discount/within agreed terms
Negative information:We
have no negative information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Gerhard-Malina-Str. 65
D
46537 Dinslaken
Real Estate of: RG Verwaltungs-GmbH
Type of ownership: Tenant
Address Gerhard-Malina-Str. 65
D
46537 Dinslaken
Real Estate of: HB Verwaltungs-GmbH
Type of ownership: Tenant
Address Gerhard-Malina-Str. 65
D
46537 Dinslaken
Real Estate of: BS Verwaltungs-GmbH
Type of ownership: Tenant
Address Gerhard-Malina-Str. 65
D 46537
Dinslaken
Land register documents
were not available.
Principal bank
COMMERZBANK, DINSLAKEN
Sort. code: 35640064, BIC:
COBADEFF356
Further banks
DEUTSCHE BANK, DINSLAKEN
Sort. code: 35070030, BIC:
DEUTDEDE350
SPARKASSE DINSLAKEN-VOERDE-HÜNXE,
DINSLAKEN
Sort. code: 35251000, BIC:
WELADED1DIN
Gross profit or loss:2011 EUR 19,877,285.00
Profit: 2011 EUR 1,415,107.00
Equipment: EUR 184,316.00
Ac/ts receivable: EUR 6,970,507.00
Liabilities: EUR 5,069,471.00
Employees:
195
-
thereof permanent staff: 175
-
Trainees:
20
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 47.51
Liquidity ratio: 5.36
Return on total capital [%]: 7.80
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 39.55
Liquidity ratio: 10.00
Return on total capital [%]: 20.56
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity
ratio [%]: 21.89
Liquidity ratio: 1.43
Return on total capital [%]: 7.95
Balance sheet ratios 01.01.2008 -
31.12.2008
Equity ratio [%]: 15.14
Liquidity ratio: 0.74
Return on total capital [%]: 8.75
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 18,431,339.28
Fixed assets
EUR 495,654.50
Intangible assets
EUR 44,087.00
Other
/ unspecified intangible assetsEUR
44,087.00
Tangible assets
EUR 451,317.50
Plant / machinery
EUR 260,302.00
Other tangible assets / fixtures and
fittings EUR 184,316.00
Advance payments made / construction
in progress
EUR 6,699.50
Financial assets
EUR 250.00
Other / unspecified financial assets EUR 250.00
Current assets
EUR 17,584,270.90
Stocks
EUR 6,844,835.81
Other / unspecified stocks
EUR 6,844,835.81
Received advance payments for orders
(depreciated on the assets side)
EUR -633,627.10
Accounts receivable
EUR 6,970,507.00
Other debtors and assets
EUR 6,970,507.00
Liquid means EUR 3,768,928.09
Remaining other assets
EUR 351,413.88
Accruals (assets)
EUR 84,595.37
Deferred taxes (assets)
EUR 266,818.51
LIABILITIES EUR 18,431,339.28
Shareholders' equity
EUR 8,641,228.03
Capital
EUR 8,641,228.03
Capital of the fully liable partner
(LP, general partnership) EUR 8,641,228.03
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 8,641,228.03
Provisions
EUR 4,720,639.93
Other / unspecified provisions
EUR 4,720,639.93
Liabilities
EUR 5,069,471.32
Financial debts
EUR 1,615,002.09
Liabilities due to banks
EUR 1,615,002.09
Other
liabilities EUR 3,454,469.23
Liabililties due to related companiesEUR 995,339.61
Unspecified other liabilities
EUR 2,459,129.62
thereof liabilities from tax /
financial authorities
EUR 183,316.95
thereof liabilities from social
security
EUR 6,557.60
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-) EUR 19,877,285.82
Staff expenses
EUR 9,571,263.84
Wages and salaries
EUR 8,078,046.21
Social security contributions and
expenses for pension plans and
benefits EUR 1,493,217.63
Total depreciation
EUR 57,523.58
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 57,523.58
Other operating expenses
EUR 8,176,561.31
Operating result from continuing
operations
EUR 2,071,937.09
Interest result (+/-)
EUR -378,188.80
Interest and similar income
EUR 40,768.66
Interest and similar expenses
EUR 418,957.46
Other financial result
EUR 31.05
Income from securities and loans from
financial assets EUR 31.05
Financial result (+/-)
EUR -378,157.75
Result from ordinary operations (+/-)
EUR 1,693,779.34
Income tax / refund of income tax (+/-)EUR -276,360.30
Other taxes / refund of taxes
EUR -2,312.22
Tax
(+/-)
EUR -278,672.52
Annual surplus / annual deficit
EUR 1,415,106.82
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2010 - 31.12.2010
ASSETS EUR 19,045,191.06
Fixed assets
EUR 50,179.00
Intangible assets
EUR 6,949.00
Concessions, licences, rights
EUR 6,949.00
Tangible assets
EUR 42,980.00
Other tangible assets / fixtures and
fittings
EUR 42,980.00
Financial assets EUR 250.00
Other loans
EUR 250.00
Current assets
EUR 18,624,976.26
Stocks
EUR 7,008,924.00
Raw materials, consumables and
supplies
EUR 3,046,838.00
Finished goods / work in progress
EUR 4,249,273.00
Advance payments made
EUR 14,827.00
Minus received advance payments for
orders / installments for stocks
EUR -302,014.00
Accounts receivable
EUR 5,187,737.63
Trade debtors
EUR 4,889,913.15
Other debtors and assets
EUR 297,824.48
Liquid means
EUR 6,428,314.63
Remaining other assets
EUR 370,035.80
Accruals (assets)
EUR 80,060.31
Deferred taxes (assets) EUR 289,975.49
LIABILITIES EUR 19,045,191.06
Shareholders' equity
EUR 7,533,963.01
Capital
EUR 7,533,963.01
Capital of the fully liable partner
(LP, general partnership)
EUR 7,533,963.01
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 7,533,963.01
Provisions EUR 5,199,871.17
Pension provisions and comparable
provisions
EUR 1,467,951.67
Provisions for taxes
EUR 206,500.00
Other / unspecified provisions
EUR 3,525,419.50
Liabilities
EUR 6,311,356.88
Financial debts
EUR 1,706,100.40
Liabilities due to banks
EUR 1,706,100.40
Other liabilities EUR 4,605,256.48
Trade creditors (for IAS incl. bills
of exchange)
EUR 2,162,287.72
Liabililties due to related companiesEUR 2,232,992.25
Unspecified other liabilities
EUR 209,976.51
thereof liabilities from tax /
financial authorities
EUR 143,375.65
thereof liabilities from social
security
EUR 11,632.37
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 45,379,923.21
Inventory change + own costs (+/-)
EUR -114,081.00
Inventory change (+/-)
EUR -114,081.00
Other
operating income EUR 1,151,002.44
Cost of materials
EUR 22,716,967.29
Raw materials and supplies, purchased
goods
EUR 22,210,785.54
Purchased services
EUR 506,181.75
Gross result (+/-)
EUR 23,699,877.36
Staff expenses
EUR 9,304,383.68
Wages and salaries
EUR 7,692,411.65
Social security contributions and
expenses for pension plans and
benefits
EUR 1,611,972.03
Total depreciation
EUR 8,868.79
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 8,868.79
Other operating expenses
EUR 9,669,288.34
Operating result from continuing
operations
EUR 4,717,336.55
Interest result (+/-)
EUR -336,325.64
Interest and similar income
EUR 49,030.65
Interest and similar expenses
EUR 385,356.29
Financial result (+/-)
EUR -336,325.64
Result from ordinary operations (+/-)
EUR 4,381,010.91
Extraordinary income
EUR 130,076.76
Extraordinary expenses
EUR 686,549.97
Extraordinary result (+/-)
EUR -556,473.21
Income tax / refund of income tax (+/-)EUR -411,845.76
Other taxes / refund of taxes
EUR -54,543.79
Tax
(+/-)
EUR -466,389.55
Annual surplus / annual deficit
EUR 3,358,148.15
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.49 |
|
UK Pound |
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.