|
Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACETO
PHARMA GMBH |
|
|
|
|
Registered Office : |
Winterhuder Weg 27 D 22085 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
08.03.1977 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Wholesale
of pharmaceutical goods |
|
|
|
|
No. of Employees : |
28 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 |
ACETO PHARMA GMBH
Company Status: active
Winterhuder Weg 27
D 22085 Hamburg
Post Box:
76 21 80, D 22069 Hamburg
Telephone:040/2270260
Telefax: 040/2273220
Homepage: www.aceto-europe.com
E-mail: contact@de.aceto.com
VAT no.: DE118678027
Tax ID number: 71/831/01158
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1976
Shareholders'
agreement: 10.01.1977
Registered on: 08.03.1977
Commercial Register: Local court 20355 Hamburg
under: HRB
19515
Share capital: EUR 1,280,000.00
Shareholder:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 4,100,000.00
Share: EUR 1,280,000.00
Registered on: 15.06.2012
Reg. data: 20355 Hamburg,
HRB 123396
Manager:
Günter Schenkel
Pinguinweg 17
D 22527 Hamburg
authorized to jointly
represent the company
born: 02.06.1963
Manager:
Salvatore John Guccione
USA Fairfield, New Jersey
having sole power of
representation
born: 11.10.1962
Nationality: USA
Proxy:
Thomas Koch
D 22085 Hamburg
authorized to jointly
represent the company
born: 24.06.1957
Further functions/participations of Günter
Schenkel (Manager)
Manager:
Aceto Fine Chem GmbH
Winterhuder Weg 27
D 22085 Hamburg
Post Box:
762180, D 22069 Hamburg
Legal form: Private limited company
Share capital: EUR 1,790,000.00
Registered
on: 19.09.1985
Reg. data: 20355 Hamburg, HRB 34879
Manager:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 4,100,000.00
Registered
on: 15.06.2012
Reg. data: 20355 Hamburg, HRB 123396
Proxy:
Aceto Health Ingredients
GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.03.2008
Reg. data: 20355 Hamburg, HRB 104476
Proxy:
Pharma Waldhof GmbH
Hansaallee 159
D 40549 Düsseldorf
Legal form: Private
limited company
Share capital: EUR
300,000.00
Registered
on: 03.06.2004
Reg. data: 40227 Düsseldorf, HRB 49945
Further functions/participations of Salvatore
John Guccione
(Manager)
Manager:
Aceto Fine Chem GmbH
Winterhuder Weg 27
D 22085 Hamburg
Post Box:
762180, D 22069 Hamburg
Legal form: Private
limited company
Share capital: EUR 1,790,000.00
Registered
on: 19.09.1985
Reg. data: 20355 Hamburg, HRB 34879
Manager:
Aceto Health Ingredients
GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.03.2008
Reg. data: 20355 Hamburg, HRB 104476
Manager:
Pharma Waldhof GmbH
Hansaallee 159
D 40549 Düsseldorf
Legal form: Private limited
company
Share capital: EUR 300,000.00
Registered
on: 03.06.2004
Reg. data: 40227 Düsseldorf, HRB 49945
Manager:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 4,100,000.00
Registered
on: 15.06.2012
Reg. data: 20355 Hamburg, HRB 123396
10.01.1977 - 06.11.1995 SPH Pharma Service GmbH
Winterhuder Weg 27
D 22085 Hamburg
Private limited
company
07.11.1995 - 05.06.2001 Schweizerhall Pharma GmbH
Winterhuder Weg 27
D 22085 Hamburg
Private limited
company
11.01.2010 - 26.06.2012 Manager
Vincent George Miata
USA New York
Main industrial sector
96090
Other service activities n. e. c.
Secondary industrial sector
46461
Wholesale of pharmaceutical goods
Payment
experience: within agreed terms
Negative information:We have no negative
information at hand.
BALANCE SHEET YEAR: 2011/2012
Type of ownership: Tenant
Address Winterhuder
Weg 27
D 22085 Hamburg
Land register documents were not available.
Principal bank
DEUTSCHE BANK, HAMBURG
Sort. code: 20070000, Account no.: 129270,
BIC: DEUTDEHHXXX
Turnover: 2011/2012 EUR 32,623,138.00
2012/2013 EUR 32,000,000.00
Profit: 2011/2012 EUR 715,107.00
further business figures:
Equipment:
EUR
129,260.00
Ac/ts receivable: EUR
6,756,510.00
Liabilities: EUR 7,555,925.00
Employees:
28
Balance sheet ratios 01.07.2011 - 30.06.2012
Equity ratio [%]: 37.17
Liquidity ratio: 0.91
Return on total capital [%]: 5.76
Balance sheet ratios 01.07.2010 - 30.06.2011
Equity ratio [%]: 60.44
Liquidity ratio: 1.71
Return on total capital [%]: 10.67
Balance sheet ratios 01.07.2009 - 30.06.2010
Equity ratio [%]: 60.62
Liquidity ratio: 1.73
Return on total capital [%]: 3.23
Balance sheet ratios 01.07.2008 - 30.06.2009
Equity ratio [%]: 62.97
Liquidity ratio: 1.64
Return on total capital [%]: 10.15
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 12,693,458.55
Fixed assets EUR 373,512.67
Intangible assets EUR
244,252.38
Concessions, licences, rights
EUR 244,252.38
Tangible assets EUR
129,260.29
Other tangible assets / fixtures and
fittings EUR 129,260.29
Current assets EUR 12,125,564.19
Stocks EUR
5,234,963.89
Finished goods / work in progress EUR 5,234,963.89
Accounts receivable EUR
6,756,510.29
Amounts due from shareholders EUR 275,892.69
Trade debtors EUR
6,081,432.23
Amounts due from related companies EUR 198,453.88
Other debtors and assets EUR 200,731.49
Liquid means EUR 134,090.01
Remaining other assets EUR
194,381.69
Accruals (assets) EUR
194,381.69
LIABILITIES EUR 12,693,458.55
Shareholders' equity EUR
4,599,866.80
Capital
EUR 1,280,000.00
Subscribed capital (share capital) EUR 1,280,000.00
Reserves EUR 3,319,866.80
Capital reserves EUR
3,319,866.80
Provisions EUR 537,666.36
Other / unspecified provisions EUR 537,666.36
Liabilities EUR 7,555,925.39
Other liabilities EUR
7,555,925.39
Trade creditors (for IAS incl. bills
of exchange) EUR 4,259,166.00
Liabilities from received advance
payments EUR 29,575.00
Liabilities due to shareholders EUR 292,109.11
Liabililties due to related companies EUR
2,887,398.29
Unspecified other liabilities EUR 87,676.99
thereof liabilities from tax /
financial authorities
EUR 67,913.78
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 32,623,137.87
Other operating income EUR
1,031,512.27
Cost of materials EUR 28,341,053.57
Raw materials and supplies, purchased
goods EUR 28,276,896.59
Purchased services EUR 64,156.98
Gross result (+/-) EUR
5,313,596.57
Staff expenses EUR 1,922,727.74
Wages and salaries EUR
1,676,062.46
Social security contributions and
expenses for pension plans and
benefits EUR 246,665.28
Total depreciation EUR
158,510.42
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 158,510.42
Other operating expenses EUR 2,517,142.03
Operating result from continuing
operations EUR 715,216.38
Interest result (+/-) EUR
-109.07
Interest and similar income EUR 0.00
thereof from related companies EUR 0.00
Interest and similar expenses EUR 109.07
Financial result (+/-) EUR
-109.07
Result from ordinary operations (+/-) EUR 715,107.31
Expenses for transfer of profits to a
parent company EUR 715,107.31
Annual surplus / annual deficit EUR 0.00
Type of balance
sheet: Company balance sheet
Financial year: 01.07.2010
- 30.06.2011
ASSETS EUR 9,403,139.26
Fixed assets EUR 610,293.55
Intangible assets EUR
274,015.37
Concessions, licences, rights EUR 274,015.37
Tangible assets EUR
152,454.65
Other tangible assets / fixtures and
fittings
EUR
152,454.65
Financial assets EUR 183,823.53
Other loans EUR 183,823.53
Current assets EUR 8,627,349.03
Stocks EUR 3,280,913.36
Finished goods / work in progress EUR 3,280,913.36
Accounts receivable EUR
4,897,263.82
Trade debtors EUR
4,462,031.94
Amounts due from related companies EUR 214,731.91
Other debtors and assets EUR 220,499.97
Liquid means EUR 449,171.85
Remaining other assets EUR
165,496.68
Accruals (assets) EUR
165,496.68
LIABILITIES
EUR
9,403,139.26
Shareholders' equity EUR
4,599,866.80
Capital EUR 1,280,000.00
Subscribed capital (share capital) EUR
1,280,000.00
Reserves EUR 3,319,866.80
Capital reserves EUR
3,319,866.80
Provisions EUR
412,239.09
Other / unspecified provisions EUR 412,239.09
Liabilities EUR 4,391,033.37
Other liabilities EUR
4,391,033.37
Trade creditors (for IAS incl. bills
of exchange) EUR 2,991,554.72
Liabilities from received advance
payments EUR 16,325.00
Liabilities due to shareholders EUR 1,083,415.99
Liabililties due to related companies EUR
133,678.61
Unspecified other liabilities EUR 166,059.05
thereof liabilities from tax /
financial authorities
EUR
128,132.27
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 29,008,531.63
Other operating income EUR
878,541.05
Cost of materials EUR 25,000,656.45
Raw materials and supplies, purchased
goods EUR 24,845,732.56
Purchased services EUR 154,923.89
Gross result (+/-) EUR
4,886,416.23
Staff expenses EUR 1,943,158.32
Wages and salaries EUR
1,677,843.54
Social security contributions and
expenses for pension plans and
benefits EUR 265,314.78
Total depreciation EUR
120,938.74
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 120,938.74
Other operating expenses EUR 1,826,282.31
Operating result from continuing
operations EUR 996,036.86
Interest result (+/-)
EUR
7,517.65
Interest and similar income EUR 9,100.00
thereof from related companies EUR 9,100.00
Interest and similar expenses EUR 1,582.35
Financial result (+/-)
EUR 7,517.65
Result from ordinary operations (+/-) EUR 1,003,554.51
Expenses for transfer of profits to a
parent company EUR 1,003,554.51
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.68 |
|
|
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
|
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.