|
Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
STEINHOFF
GMBH & CIE. OHG |
|
|
|
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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 |
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Payment Behaviour : |
Regular |
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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
|
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
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.54.33 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
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.