MIRA INFORM REPORT
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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
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Name : |
F. REYHER NCHFG.
GMBH & CO. KG |
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Registered Office : |
Haferweg 1, Hamburg, 22769 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.01.1995 |
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Com. Reg. No.: |
88414 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject engaged in wholesale of hardware, plumbing and heating
equipment and supplies. |
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No. of Employees : |
490 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 & ADDRESS
F. REYHER NCHFG.
GMBH & CO. KG
Haferweg 1
Hamburg, 22769
Germany
Tel: +49 (0) 40 853630
Fax: +49 (0) 40 85363290
SYNTHESIS
Employees: 490
Company Type: Private Independent
Incorporation Date: 16-Jan-1995
Financials in: USD
(mil)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 292.6
Total Assets: 128.1
Business Description
F. Reyher Nchfg. GmbH & Co. KG is primarily engaged in wholesale of
hardware, plumbing and heating equipment and supplies. This class also
includes: wholesale of sanitary installation equipment (tubes, pipes, fittings,
taps, T-pieces, connections, rubber pipes, etc.); and wholesale of tools such as
hammers, saws, screwdrivers and other hand tools.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
5154 - Wholesale
of hardware, plumbing and heating equipment and supplies |
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NAICS 2002: |
4237 - Hardware,
and Plumbing and Heating Equipment and Supplies Merchant Wholesalers |
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UK SIC 2003: |
5154 - Wholesale
of hardware, plumbing and heating equipment and supplies |
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UK SIC 2007: |
4674 - Wholesale
of hardware, plumbing and heating equipment and supplies |
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US SIC 1987: |
Registered
No.(DEU):88414
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7454064
Haferweg 1
Hamburg, 22769
Germany
Tel: +49 (0) 40 853630
Fax: +49 (0) 40 85363290
Sales EUR(mil): 220.9
Assets EUR(mil): 95.5
Employees: 490
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Capital Goods
Incorporation
Date: 16-Jan-1995
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(DEU): 88414
Business Description
F. Reyher Nchfg. GmbH & Co. KG is
primarily engaged in wholesale of hardware, plumbing and heating equipment and supplies.
This class also includes: wholesale of sanitary installation equipment (tubes,
pipes, fittings, taps, T-pieces, connections, rubber pipes, etc.); and
wholesale of tools such as hammers, saws, screwdrivers and other hand tools
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
292.6 |
256.6 |
340.1 |
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Raw materials and services |
182.5 |
157.3 |
221.2 |
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Net sales |
292.6 |
256.6 |
340.1 |
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Other operating income |
2.2 |
0.7 |
1.0 |
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Raw materials and consumables employed |
182.5 |
157.3 |
221.2 |
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Other external charges |
3.5 |
3.2 |
4.0 |
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Cost of goods sold |
186.0 |
160.5 |
225.2 |
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Cost of raw materials |
186.0 |
160.5 |
225.2 |
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Taxes and social security costs |
5.3 |
5.7 |
5.3 |
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Total payroll costs |
39.2 |
40.9 |
41.4 |
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Fixed asset depreciation and amortisation |
6.9 |
8.4 |
11.4 |
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Other operating costs |
29.3 |
26.0 |
38.1 |
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Net operating income |
33.4 |
21.5 |
25.0 |
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Interest received from loans |
- |
- |
1.2 |
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Other income |
0.1 |
0.1 |
0.1 |
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Interest payable on loans |
2.9 |
3.5 |
5.6 |
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Total expenses |
2.8 |
3.5 |
4.3 |
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Profit before tax |
30.6 |
18.0 |
20.6 |
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Provisions |
18.0 |
13.4 |
11.1 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
6.6 |
5.1 |
4.8 |
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Net profit |
24.0 |
12.9 |
15.8 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
6.7 |
7.2 |
7.0 |
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Deferred taxation |
5.1 |
2.0 |
1.5 |
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Other provisions |
13.1 |
11.8 |
9.0 |
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Provision for pensions |
0.0 |
0.0 |
0.0 |
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Provisions and allowances |
18.2 |
13.8 |
10.6 |
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Other debentures |
3.4 |
10.3 |
15.0 |
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Taxes and social security |
0.6 |
0.6 |
- |
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Other long-term liabilities |
0.8 |
0.9 |
- |
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Total long-term liabilities |
4.7 |
11.7 |
15.0 |
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Trade creditors |
13.4 |
9.7 |
8.6 |
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Other loans |
1.6 |
3.1 |
31.8 |
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Taxation and social security |
0.8 |
1.5 |
1.6 |
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Other current liabilities |
82.4 |
74.1 |
67.0 |
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Due to group companies |
0.2 |
- |
0.7 |
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Total current liabilities |
98.4 |
88.4 |
109.7 |
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Total liabilities (including net worth) |
128.1 |
121.1 |
142.2 |
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Patents |
0.3 |
0.2 |
0.3 |
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Intangibles |
0.3 |
0.2 |
0.3 |
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Land and buildings |
0.8 |
1.0 |
1.1 |
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Machinery and tools |
13.2 |
19.7 |
25.9 |
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Fixtures and equipment |
0.8 |
1.0 |
1.1 |
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Total tangible fixed assets |
16.6 |
23.5 |
29.8 |
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Shares held in associated companies |
0.2 |
0.3 |
0.2 |
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Total financial assets |
0.2 |
0.3 |
0.2 |
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Total non-current assets |
17.1 |
23.9 |
30.4 |
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Raw materials |
0.0 |
0.0 |
0.0 |
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Finished goods |
73.9 |
58.7 |
82.2 |
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Prepayments |
5.3 |
1.9 |
3.5 |
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Net stocks and work in progress |
79.3 |
60.6 |
85.7 |
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Trade debtors |
26.1 |
20.3 |
23.4 |
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Other receivables |
2.2 |
1.3 |
2.0 |
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Total receivables |
28.3 |
21.7 |
25.4 |
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Owing from associated companies |
- |
0.0 |
- |
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Cash and liquid assets |
3.0 |
14.3 |
0.0 |
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Total current assets |
110.6 |
96.5 |
111.2 |
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Prepaid expenses and deferred costs |
0.4 |
0.7 |
0.7 |
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Total assets |
128.1 |
121.1 |
142.2 |
Annual Ratios
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
11.24 |
10.92 |
10.14 |
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Acid test ratio |
3.18 |
4.07 |
2.32 |
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Total liabilities to net worth |
1.54% |
1.40% |
1.79% |
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Net worth to total assets |
0.01% |
0.01% |
0.00% |
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Current liabilities to net worth |
1.47% |
1.23% |
1.58% |
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Current liabilities to stock |
0.12% |
0.15% |
0.13% |
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Fixed assets to net worth |
0.25% |
0.33% |
0.44% |
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Collection period |
321.00 |
281.00 |
263.00 |
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Stock turnover rate |
2.68 |
2.29 |
2.65 |
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Profit margin |
0.01% |
0.01% |
0.00% |
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Return on assets |
0.02% |
0.01% |
0.01% |
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Shareholders' return |
0.36% |
0.19% |
0.22% |
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Sales per employee |
51.14 |
41.93 |
52.96 |
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Profit per employee |
4.19 |
2.10 |
2.45 |
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Average wage per employee |
6.86 |
6.68 |
6.45 |
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Net worth |
6.7 |
7.2 |
7.0 |
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Number of employees |
432 |
440 |
439 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the
strongest capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be
exercised |
Credit
not recommended |
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-- |
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.