|
Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KRAEMER
GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG |
|
|
|
|
Registered Office : |
Friedrichstr.
5 D 50676 Köln |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
20.02.1956 |
|
|
|
|
Legal Form : |
Private
limited company |
|
|
|
|
Line of Business : |
·
Wholesale
of clocks and watches and jewelry ·
Retail
sale of ceramic goods and glassware |
|
|
|
|
No. of Employees |
411 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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, has contributed to strong growth 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 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. 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 and 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. 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 |
KRAEMER GESELLSCHAFT MIT
BESCHRÄNKTER HAFTUNG
Company Status: active
Friedrichstr. 5
D 50676 Köln
Telephone:0221/208090
Telefax: 0221/230823
Homepage: www.kraemer-gruppe.com
E-mail: verkauf@kraemer-gruppe.com
Trade name: Gold
Kraemer
VAT no.: DE122654719
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1941
Shareholders'
agreement: 18.01.1956
Registered on: 20.02.1956
Commercial Register: Local court 50939 Köln
under: HRB 344
Share capital: EUR 71,600.00
Shareholder:
Gold Kraemer Stiftung
Römerstr. 100
D 50226 Frechen
Legal form: Private law
foundation
Share: EUR 71,600.00
Manager:
Claus-Peter Nick
Freigerichter Str. 22
D 63579 Freigericht
having sole power of
representation
born: 07.04.1952
Profession: Businessman
Marital status: married
Manager:
Roland Kaulfuß
D 58553 Halver
having sole power of
representation
born: 15.06.1964
Marital status: unknown
Proxy:
Hans Kierspel
D 51674 Wiehl
having sole power of
representation
born: 19.01.1963
Further functions/participations of
Claus-Peter Nick (Manager)
Manager:
Pletzsch Deiter Juweliere
GmbH
Friedrichstr. 5
D 50676 Köln
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 16.04.2013
Reg. data: 50939 Köln, HRB 78241
Member of the Board of Directors:
DUGENA Uhren und Schmuck
Leistungsgemeinschaft eG
D 64283 Darmstadt
Legal form: Registered cooperative
Further functions/participations of Roland
Kaulfuß (Manager)
Manager:
Optimus Logistics GmbH
Wandererstr. 159
D 90431 Nürnberg
Legal form: Private
limited company
dissolved
Share capital: EUR 500,000.00
Registered
on: 27.10.2000
Reg. data: 90402 Nürnberg, HRB 17664
Manager:
Pletzsch Deiter Juweliere
GmbH
Friedrichstr. 5
D 50676 Köln
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 16.04.2013
Reg. data: 50939 Köln, HRB 78241
18.01.1956 - 03.04.2001 Gold Kraemer Gesellschaft mit
beschränkter Haftung
Friedrichstr. 5
D 50676 Köln
Private limited
company
Main industrial sector
46480
Wholesale of clocks and watches and jewelry
46903 Non-specialized wholesale trade
47592 Retail sale of ceramic goods and glassware
47599 Retail sale of household articles n.e.c.
Works:
Kraemer Gesellschaft mit
beschränkter
Haftung
Schildergasse 91
D 50667 Köln
TEL.: 0221/2576589
FAX.: 0221/2579986
Works:
Kraemer Gesellschaft mit
beschränkter
Haftung
Schildergasse 50
D 50667 Köln
Works:
Kraemer Gesellschaft mit
beschränkter
Haftung
Hohe Str. 142
D 50667 Köln
Branch:
Kraemer Gesellschaft mit
beschränkter
Haftung
Zeil 84
D 60313 Frankfurt
TEL.: 069/281062
Shareholder:
Pletzsch Deiter Juweliere GmbH
Friedrichstr. 5
D 50676 Köln
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 16.04.2013
Local court
50939 Köln
HRB 78241
Payment
experience: within agreed terms
Negative information:We have no negative
information at hand.
BALANCE SHEET YEAR: 2011/2012
Type of ownership: Tenant
Address Friedrichstr.
5
D 50676 Köln
Real Estate of: Roland
Kaulfuß
Type of ownership: proprietor
Share: 100.00 %
Address Am Krautgarten 8a
D 61273 Wehrheim
Land register documents were not available.
COMMERZBANK, 50447 KÖLN
Sort. code: 37040044
BIC: COBADEFF370
KREISSPARKASSE KÖLN, 50461 KÖLN
Sort. code: 37050299
BIC: COKSDE33XXX
SPARKASSE KÖLNBONN, 50667 KÖLN
Sort. code: 37050198
BIC: COLSDE33XXX
COMMERZBANK VORMALS DRESDNER BANK, 50450 KÖLN
Sort. code: 37080040
BIC: DRESDEFF370
POSTBANK, 51222 KÖLN
Sort. code: 37010050
BIC: PBNKDEFFXXX
Turnover: 2011/2012 EUR 38,922,629.00
Profit: 2011/2012 EUR 250,088.00
Equipment: EUR
5,482,165.00
Ac/ts receivable: EUR
6,526,475.00
Liabilities: EUR
5,316,971.00
Employees: 411
Balance sheet ratios 01.07.2011 - 30.06.2012
Equity ratio [%]: 88.70
Liquidity ratio: 2.81
Return on total capital [%]: 0.58
Balance sheet grade: 2.1
Balance sheet ratios 01.07.2010 - 30.06.2011
Equity ratio [%]: 89.11
Liquidity ratio: 7.62
Return on total capital [%]: 0.98
Balance sheet grade: 2.1
Balance sheet ratios 01.07.2009 - 30.06.2010
Equity ratio [%]: 94.59
Liquidity ratio: 10.00
Return on total capital [%]: 0.61
Balance sheet grade: 2.1
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: 01.07.2011 - 30.06.2012
ASSETS EUR 43,263,885.15
Fixed assets EUR 9,787,558.87
Tangible assets EUR 6,131,912.93
Plant / machinery EUR 236,990.48
Other tangible assets /
fixtures and
fittings EUR 5,482,165.48
Advance payments made /
construction
in progress EUR 412,756.97
Financial assets EUR 3,655,645.94
Shares in participations
/
subsidiaries and the
like EUR 955,645.94
Shares in related
companies EUR 955,645.94
Loans to participations
/
subsidiaries and the
like EUR 2,100,000.00
Loans to related
companies EUR 2,100,000.00
Securities included in
fixed assets EUR 600,000.00
Current assets EUR 33,380,065.57
Stocks EUR 25,862,284.26
Raw materials,
consumables and
supplies EUR 46,504.26
Finished goods / work in
progress EUR 25,815,780.00
Accounts receivable EUR 6,526,474.66
Trade debtors EUR 9,957.13
Amounts due from related
companies EUR 2,104,811.95
Other debtors and
assets EUR 4,411,705.58
Liquid means EUR 991,306.65
Remaining other
assets EUR 96,260.71
Accruals (assets) EUR 96,260.71
LIABILITIES EUR 43,263,885.15
Shareholders' equity EUR 36,373,814.37
Capital EUR 71,600.00
Subscribed capital
(share capital) EUR 71,600.00
Balance sheet profit/loss
(+/-) EUR 36,302,214.37
Profit / loss brought
forward EUR 36,052,125.93
Annual surplus / annual
deficit EUR 250,088.44
Provisions EUR 1,573,100.00
Provisions for taxes EUR 77,800.00
Other / unspecified
provisions EUR 1,495,300.00
Liabilities EUR 5,316,970.78
Financial debts EUR 21.36
Liabilities due to
banks EUR 21.36
Other liabilities EUR 5,316,949.42
Trade creditors (for IAS
incl. bills
of exchange) EUR 2,593,475.44
Liabilities from
received advance
payments EUR 420,386.20
Liabililties due to
related companiesEUR
40,603.07
Unspecified other
liabilities EUR 2,262,484.71
thereof liabilities
from tax /
financial
authorities EUR 94,405.39
thereof liabilities
from social
security EUR 58,275.24
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 38,922,629.26
Inventory change + own
costs (+/-) EUR 2,102,880.00
Inventory change
(+/-) EUR 2,102,880.00
Other operating
income EUR 2,462,764.53
Cost of materials EUR 26,192,925.52
Raw materials and
supplies, purchased
goods EUR 26,192,925.52
Gross result (+/-) EUR 17,295,348.27
Staff expenses EUR 8,099,109.30
Wages and salaries EUR 6,833,992.43
Social security
contributions and
expenses for pension
plans and
benefits EUR 1,265,116.87
Total depreciation EUR 1,382,884.49
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 1,382,884.49
Other operating
expenses EUR 7,801,945.50
Operating result from
continuing
operations EUR 11,408.98
Interest result (+/-) EUR 467,324.00
Interest and similar
income EUR 468,485.09
Interest and similar
expenses EUR 1,161.09
Financial result
(+/-) EUR 467,324.00
Result from ordinary
operations (+/-) EUR 478,732.98
Income tax / refund of
income tax (+/-)EUR -226,746.01
Other taxes / refund of
taxes EUR -1,898.53
Tax (+/-) EUR -228,644.54
Annual surplus / annual
deficit EUR 250,088.44
Type of balance sheet: Company
balance sheet
Financial year: 01.07.2010
- 30.06.2011
ASSETS EUR 42,784,647.39
Fixed assets EUR 9,730,738.77
Tangible assets EUR 5,721,705.27
Plant / machinery EUR 203,573.00
Other tangible assets /
fixtures and
fittings EUR 5,315,909.00
Advance payments made /
construction
in progress EUR 202,223.27
Financial assets EUR 4,009,033.50
Shares in participations
/
subsidiaries and the
like EUR 409,033.50
Shares in related
companies EUR 409,033.50
Loans to participations
/
subsidiaries and the
like EUR 3,000,000.00
Loans to related
companies EUR 3,000,000.00
Securities included in
fixed assets EUR 600,000.00
Current assets EUR 32,955,098.06
Stocks EUR 23,747,140.00
Raw materials,
consumables and
supplies EUR 34,240.00
Finished goods / work in
progress EUR 23,712,900.00
Accounts receivable EUR 6,303,536.34
Trade debtors EUR 15,221.26
Amounts due from related
companies EUR 3,199,175.06
Other debtors and
assets EUR
3,089,140.02
Liquid means EUR 2,904,421.72
Remaining other
assets EUR 98,810.56
Accruals (assets) EUR 98,810.56
LIABILITIES EUR 42,784,647.39
Shareholders' equity EUR 38,123,725.93
Capital EUR 71,600.00
Subscribed capital
(share capital) EUR 71,600.00
Balance sheet profit/loss
(+/-) EUR 38,052,125.93
Profit / loss brought
forward EUR 37,633,683.88
Annual surplus / annual
deficit EUR 418,442.05
Provisions EUR 929,431.00
Provisions for taxes EUR 51,331.00
Other / unspecified
provisions EUR 878,100.00
Liabilities EUR 3,731,490.46
Other liabilities EUR 3,731,490.46
Trade creditors (for IAS
incl. bills
of exchange) EUR 1,793,782.06
Liabilities from
received advance
payments EUR 316,547.17
Liabililties due to
related companiesEUR
1,436,065.85
Unspecified other
liabilities EUR 185,095.38
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 35,150,795.71
Other operating
income EUR 2,535,218.47
Cost of materials EUR 21,647,401.56
Raw materials and
supplies, purchased
goods EUR 21,647,401.56
Gross result (+/-) EUR 16,038,612.62
Staff expenses EUR 7,827,162.75
Wages and salaries EUR 6,623,598.36
Social security
contributions and
expenses for pension
plans and
benefits EUR 1,203,564.39
Total depreciation EUR 1,409,666.04
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 1,409,666.04
Other operating
expenses EUR 6,625,590.55
Operating result from
continuing
operations EUR 176,193.28
Interest result (+/-) EUR 472,673.98
Interest and similar
income EUR 477,599.69
Interest and similar
expenses EUR 4,925.71
Financial result
(+/-) EUR 472,673.98
Result from ordinary
operations (+/-) EUR 648,867.26
Income tax / refund of
income tax (+/-)EUR -227,548.80
Other taxes / refund of
taxes EUR -2,876.41
Tax (+/-) EUR -230,425.21
Annual surplus / annual
deficit EUR 418,442.05
INCONSISTENT BALANCE SHEETS:
Financial year published on
01.07.2008 - 30.06.2009 04.08.2010
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIS |
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.