|
Report Date : |
15.10.2013 |
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) : |
31.12.2012 |
|
|
|
|
Date 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 : |
189 (Permanent staff 168 + 21 Trainees) |
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 6.5% 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.
|
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:
thomas.gierth@steinhoff.eu
DE119066346
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
General
partner
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
Shareholder:
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: 2012
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:2012 EUR 19,294,382.00
Profit: 2011 EUR 1,415,107.00
2012 EUR 1,594,904.00
further business figures:
Equipment:
EUR 204,460.00
Ac/ts receivable: EUR 6,893,244.00
Liabilities: EUR 4,954,780.00
Employees:
189
- thereof permanent staff: 168
- Trainees:
21
Balance sheet ratios 01.01.2012 -
31.12.2012
Equity ratio [%]: 42.09
Liquidity ratio: 2.23
Return on total capital [%]: 10.97
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
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: 01.01.2012 - 31.12.2012
ASSETS EUR 14,819,212.50
Fixed assets EUR 501,058.50
Intangible assets EUR 35,827.00
Other / unspecified intangible
assetsEUR 35,827.00
Tangible assets EUR 464,981.50
Plant / machinery EUR 253,822.00
Other tangible assets / fixtures and
fittings EUR 204,460.00
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 13,997,694.34
Stocks EUR 5,236,439.68
Other / unspecified stocks EUR
5,236,439.68
Received advance payments for orders
(depreciated on the assets side) EUR -190,787.32
Accounts receivable EUR 6,893,244.31
Trade debtors EUR 6,623,419.98
Other debtors and assets EUR 269,824.33
Liquid means EUR 1,868,010.35
Remaining other assets EUR 320,459.66
Accruals (assets) EUR 53,641.15
Deferred taxes (assets) EUR 266,818.51
LIABILITIES EUR 14,819,212.50
Shareholders' equity EUR 6,402,742.85
Capital EUR 6,402,742.85
Capital of the fully liable partner
(LP, general partnership) EUR 6,402,742.85
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder EUR 6,402,742.85
Provisions EUR 3,461,689.28
Liabilities EUR 4,954,780.37
Financial debts EUR 1,519,252.20
Liabilities due to banks EUR 1,519,252.20
Other liabilities EUR 3,435,528.17
Trade creditors (for IAS incl. bills
of exchange) EUR 1,237,884.19
Liabililties due to related companiesEUR 1,652,860.85
Unspecified other liabilities EUR 544,783.13
thereof liabilities from tax /
financial authorities EUR 192,974.70
thereof liabilities from social
security
EUR 1,610.75
Guarantees and other commitments EUR 1,081,000.00
Sureties / lendings of
creditworthiness EUR 374,000.00
Liability from creation of a security
interest for third parties EUR 707,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 19,294,382.16
Staff expenses EUR 9,800,742.22
Wages and salaries EUR 8,251,097.85
Social security contributions and
expenses for pension plans and
benefits EUR 1,549,644.37
Total depreciation EUR 80,293.78
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 80,293.78
Other operating expenses EUR 7,533,776.45
Operating result from continuing
operations EUR 1,879,569.71
Interest result (+/-) EUR -284,111.38
Interest and similar income EUR 49,857.64
Interest and similar expenses EUR 333,969.02
Other financial result EUR 232.00
Income from securities and loans from
financial assets EUR 232.00
Financial result (+/-) EUR
-283,879.38
Result from ordinary operations (+/-) EUR
1,595,690.33
Other taxes / refund of taxes EUR -786.00
Tax (+/-) EUR -786.00
Annual surplus / annual deficit EUR 1,594,904.33
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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.61.30 |
|
UK Pound |
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.83.14 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.