MIRA INFORM REPORT
|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PETROFER GMBH |
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Registered Office : |
Romerring 12-16
Hildesheim, 31137 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
302 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Subject is engaged in wholesale of industrial chemicals
(aniline, printing ink, essential oils, industrial gases, chemical glues,
colouring matter, synthetic resin, methanol, paraffin, scents and
flavourings, soda, industrial salt, acids and sulphur, starch derivatives,
etc.) |
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|
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 6.5% in 2012. GDP contracted
5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7%
in 2012 - a reflection of low investment spending due to crisis-induced
uncertainty and the decreased demand for German exports from recession-stricken
periphery countries. Stimulus and stabilization efforts initiated in 2008 and
2009 and tax cuts introduced in Chancellor Angela MERKEL's second term
increased Germany's total budget deficit - including federal, state, and
municipal - to 4.1% in 2010, but slower spending and higher tax revenues
reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus
of 0.1%. 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 though the target was already reached in 2012. By 2014, the federal
government wants to balance its budget. 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 electricity generating capacity and 46%
of its base-load electricity production.
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Source
: CIA |
Company name and address
PETROFER GMBH
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Römerring 12-16 Hildesheim, 31137 Germany
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Business Description
PETROFER GMBH is primarily engaged in wholesale of industrial chemicals (aniline, printing ink, essential oils, industrial gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids and sulphur, starch derivatives, etc.); wholesale of fertilisers and agro-chemical products; wholesale of plastic materials in primary forms; and wholesale of rubber.
Industry
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Industry |
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ANZSIC 2006: |
3323 -
Industrial and Agricultural Chemical Product Wholesaling |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
5169 -
Chemicals and Allied Products, Not Elsewhere Classified |
Registered No.(DEU): 302
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
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ANZSIC 2006 Codes: |
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3323 |
- |
Industrial and Agricultural Chemical Product Wholesaling |
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9539 |
- |
Other Personal Services Not Elsewhere Classified |
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NACE 2002 Codes: |
||
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5155 |
- |
Wholesale of chemical products |
|
9305 |
- |
Other service activities not elsewhere classified |
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NAICS 2002 Codes: |
||
|
4246 |
- |
Chemical and Allied Products Merchant Wholesalers |
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8129 |
- |
Other Personal Services |
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US SIC 1987: |
||
|
5169 |
- |
Chemicals and Allied Products, Not Elsewhere Classified |
|
7299 |
- |
Miscellaneous Personal Services, Not Elsewhere Classified |
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UK SIC 2003: |
||
|
5155 |
- |
Wholesale of chemical products |
|
9305 |
- |
Other service activities not elsewhere classified |
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UK SIC 2007: |
||
|
4675 |
- |
Wholesale of chemical products |
|
9609 |
- |
Other personal service activities n.e.c. |
PETROFER GMBH is primarily engaged in wholesale of industrial
chemicals (aniline, printing ink, essential oils, industrial gases, chemical
glues, colouring matter, synthetic resin, methanol, paraffin, scents and
flavourings, soda, industrial salt, acids and sulphur, starch derivatives,
etc.); wholesale of fertilisers and agro-chemical products; wholesale of
plastic materials in primary forms; and wholesale of rubber.
More Business Descriptions
All Other Chemical Product and Preparation Manufacturing
|
|
S
|
Company |
Percentage Owned |
Country |
|
Petrofer-Polska Sp. z o.o |
|
Poland |
|
Shanghai Petrofer Special Lubricating Agent Co. Ltd |
|
Peoples Republic of China |
|
Petrocare Co. Ltd., |
|
Peoples Republic of China |
|
H.R. Fischer-Iberica 2000 S.L |
|
Spain |
|
Petrofer Latinoa mericano S.A. de C.V |
|
Mexico |
|
Petrofer Schweiz AG |
|
Switzerland |
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Petrofer EndĂ¼striyel Yaglar Sanayi Ve Ticaret A.S |
|
Turkey |
|
Petrofer Bulgaria EgmbH |
|
Bulgaria |
|
PETROFER U K PLC |
|
England |
|
Petrofer S.A.R.L |
|
France |
|
Petrofer South Africa (Pty.) Ltd. |
|
South Africa |
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Petrofer Benelux BV |
|
Netherlands |
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PETROFER ASIA LTD |
|
Hong Kong |
|
Petrofer Chemie GmbH |
|
|
Corporate Family
Corporate Structure News:
Total Corporate Family Members: 6
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Hildesheim, Niedersachsen |
Germany |
Consumer Financial Services |
199.5 |
636 |
|
|
Subsidiary |
Hildesheim, Niedersachsen |
Germany |
Chemical Manufacturing |
91.9 |
250 |
|
|
Subsidiary |
Celaya, Guanajuato |
Mexico |
Chemical Manufacturing |
2.0 |
10 |
|
|
Subsidiary |
Hildesheim, Niedersachsen |
Germany |
Chemical Manufacturing |
47.1 |
7 |
|
|
Subsidiary |
Izmir |
Turkey |
Oil and Gas Operations |
10.9 |
41 |
|
|
Subsidiary |
Telford |
United Kingdom |
Chemical Manufacturing |
5.2 |
11 |
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
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|
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Total income |
47.1 |
38.3 |
30.9 |
|
Raw materials and services |
40.2 |
32.7 |
26.3 |
|
Net sales |
47.1 |
38.3 |
30.9 |
|
Other operating income |
2.0 |
0.6 |
0.3 |
|
Raw materials and consumables employed |
40.2 |
32.7 |
26.3 |
|
Cost of goods sold |
40.2 |
32.7 |
26.3 |
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Cost of raw materials |
40.2 |
32.7 |
26.3 |
|
Taxes and social security costs |
0.2 |
0.2 |
0.2 |
|
Total payroll costs |
1.1 |
1.0 |
1.0 |
|
Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.0 |
|
Other operating costs |
3.2 |
3.2 |
2.5 |
|
Net operating income |
4.7 |
2.0 |
1.5 |
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Interest received from loans |
0.7 |
0.6 |
0.4 |
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Income received from associated companies |
0.0 |
0.0 |
0.0 |
|
Other income |
0.3 |
0.5 |
0.4 |
|
Interest payable on loans |
0.1 |
0.0 |
0.0 |
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Other expenses |
0.0 |
0.0 |
1.0 |
|
Total expenses |
-0.9 |
-1.0 |
0.1 |
|
Profit before tax |
5.7 |
3.0 |
1.4 |
|
Extraordinary income |
- |
0.0 |
- |
|
Provisions |
0.6 |
1.1 |
1.7 |
|
Extraordinary expenses |
- |
0.0 |
- |
|
Extraordinary result |
- |
0.0 |
- |
|
Other taxes |
0.0 |
0.0 |
0.0 |
|
Total taxation |
1.3 |
0.9 |
0.6 |
|
Net profit |
4.3 |
2.1 |
0.8 |
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Annual Balance Sheet |
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Financials in: USD
(mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
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|
|
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Issued capital |
0.8 |
0.8 |
0.9 |
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Capital reserves |
0.3 |
0.3 |
0.3 |
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Total reserves |
0.1 |
0.1 |
- |
|
Profits for the year |
20.3 |
16.8 |
15.8 |
|
Profit brought forward from previous year(s) |
16.3 |
14.8 |
15.0 |
|
Total stockholders equity |
21.5 |
18.0 |
16.9 |
|
Deferred taxation |
0.2 |
0.3 |
- |
|
Other provisions |
0.1 |
0.1 |
0.1 |
|
Provision for pensions |
0.2 |
0.4 |
1.6 |
|
Provisions and allowances |
0.6 |
1.1 |
1.7 |
|
Trade creditors |
0.1 |
0.1 |
0.0 |
|
Advances received |
- |
- |
0.1 |
|
Other loans |
0.0 |
0.0 |
0.0 |
|
Taxation and social security |
0.1 |
0.1 |
0.2 |
|
Due to group companies |
- |
- |
1.6 |
|
Total current liabilities |
0.2 |
0.2 |
2.0 |
|
Total liabilities (including net worth) |
22.7 |
19.3 |
20.6 |
|
Patents |
- |
0.0 |
0.0 |
|
Intangibles |
- |
0.0 |
0.0 |
|
Total tangible fixed assets |
0.0 |
0.0 |
0.0 |
|
Long-term investments |
0.4 |
0.5 |
0.5 |
|
Shares held in associated companies |
7.5 |
7.4 |
8.1 |
|
Deposits |
- |
- |
0.7 |
|
Total financial assets |
7.9 |
7.8 |
9.3 |
|
Total non-current assets |
7.9 |
7.8 |
9.3 |
|
Finished goods |
0.2 |
0.1 |
- |
|
Net stocks and work in progress |
0.2 |
0.1 |
- |
|
Trade debtors |
3.7 |
3.3 |
2.5 |
|
Other receivables |
0.2 |
0.2 |
0.4 |
|
Total receivables |
13.9 |
10.7 |
11.1 |
|
Owing from associated companies |
10.0 |
7.2 |
8.1 |
|
Owing from participants |
0.1 |
0.0 |
0.0 |
|
Cash and liquid assets |
0.2 |
0.2 |
0.3 |
|
Recoverable taxation |
0.4 |
0.3 |
- |
|
Total current assets |
14.3 |
11.1 |
11.3 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
|
Total assets |
22.7 |
19.3 |
20.6 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
668.14 |
690.36 |
57.94 |
|
Acid test ratio |
658.93 |
681.14 |
57.94 |
|
Total liabilities to net worth |
0.00% |
0.00% |
0.01% |
|
Net worth to total assets |
0.09% |
0.09% |
0.08% |
|
Current liabilities to net worth |
0.00% |
0.00% |
0.01% |
|
Current liabilities to stock |
0.11% |
0.11% |
- |
|
Fixed assets to net worth |
0.04% |
0.04% |
0.05% |
|
Collection period |
303.00 |
307.00 |
281.00 |
|
Stock turnover rate |
0.04 |
0.04 |
- |
|
Profit margin |
0.01% |
0.01% |
0.00% |
|
Return on assets |
0.02% |
0.01% |
0.00% |
|
Shareholders' return |
0.02% |
0.01% |
0.00% |
|
Sales per employee |
484.19 |
413.03 |
278.16 |
|
Profit per employee |
44.46 |
22.20 |
6.98 |
|
Average wage per employee |
11.29 |
10.27 |
8.75 |
|
Net worth |
21.5 |
18.0 |
16.9 |
|
Number of employees |
7 |
7 |
8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
|
1 |
Rs.84.18 |
|
Euro |
1 |
Rs.71.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.