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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
KORSCH AKTIENGESELLSCHAFT |
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Registered Office : |
Breitenbachstr. 1-6, D 13509 Berlin, Post Box 27 04 34, D 13474
Berlin |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
02.07.1998 |
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Com. Reg. No.: |
HRB 68159 B |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Subject offers
Innovative Solution for Virtually Every Tablet Compression Application. Subject
product range includes :- WIP / High Containment Technology Product development technology Scale-up technology Multi-layer technology |
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No. of Employees : |
151 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Source : CIA |
Korsch Aktiengesellschaft
Breitenbachstr. 1-6
D 13509 Berlin
Post Box:
27 04 34, D 13474 Berlin
Telephone: 030/435760
Telefax: 030/43576350
Homepage: www.korsch.de
E-mail: berlin@korsch.de
DE159338554
active
Business relations are permissible.
LEGAL FORM Public limited company
Date of foundation: 02.07.1998
Registered on: 22.09.1998
Commercial Register: Local
court 14057 Berlin
under: HRB 68159 B
Share capital: EUR
3,000,000.00
Eckard Strohscheer
Pfadfinderweg 29
D 13465 Berlin
born: 19.07.1933
Share:
11.900 %
Shareholder:
Bettina Strohscheer-Mies
Mühlenfeldstr. 90
D
13467 Berlin
born: 13.05.1966
née:
Strohscheer
Share:
19.600 %
Shareholder:
Anke
Strohscheer
Im
Park 3
D
16567 Schönfließ
born:
09.02.1966
Share:
19.600 %
Shareholder:
Stephan Mies
Mühlenfeldstr. 90
D
13467 Berlin
born: 13.10.1961
Share:
19.600 %
Shareholder:
Christiane Strohscheer
Pfadfinderweg 29
D
13465 Berlin
Share:
19.600 %
Shareholder:
Frederic J. Murray
D
13509 Berlin
Share:
3.100 %
Shareholder:
Georg
Andreas Bössenrodt
D
13509 Berlin
Share:
3.300 %
Shareholder:
Walter
Hegel
D
13509 Berlin
Share:
3.300 %
Stephan Mies
Mühlenfeldstr. 90
D 13467 Berlin
having sole power of representation
born: 13.10.1961
Profession: graduate engineer
Marital status: married
President of the Supervisory Board:
Eckard
Strohscheer
Pfadfinderweg 29
D
13465 Berlin
born:
19.07.1933
Profession: Businessman
Marital status: married
Bettina Strohscheer-Mies
Mühlenfeldstr. 90
D 13467 Berlin
born: 13.05.1966
née: Strohscheer
Profession: degree-level ecotrophologist
Marital status: married
Anke Strohscheer
Im Park 3
D 16567 Schönfließ
born: 09.02.1966
Profession: Fully qualified agri. engineer
Marital status: married
29.07.1993 -
21.09.1998 Korsch Pressen GmbH
Breitenbachstr. 1
D
13509 Berlin
Private
limited company
22.09.1998 -
29.07.2001 Korsch Pressen
Aktiengesellschaft
Breitenbachstr. 1
D
13509 Berlin
Public limited company
Subject offers Innovative
Solution for Virtually Every Tablet Compression Application.
Subject product range includes:-
WIP / High Containment Technology
Product development technology
Scale-up technology
Multi-layer technology
Payment experience: within
agreed terms
Negative information: We
have no negative information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Breitenbachstr.
1-6
D 13509 Berlin
Real Estate of: Stephan
Mies
Type of ownership: Tenant
Address Mühlenfeldstr.
90
D 13467 Berlin
Real Estate of: Bettina
Strohscheer-Mies
Type of ownership: Tenant
Address Mühlenfeldstr.
90
D 13467 Berlin
Land register documents
were not available.
Principal bank
COMMERZBANK BERLIN OST, BERLIN
Sort. code: 12040000, BIC: COBADEBB120
Further banks
COMMERZBANK BERLIN (WEST), BERLIN
Sort. code: 10040000, BIC: COBADEBBXXX
HSH NORDBANK HAMBURG, KIEL, KIEL
Sort. code: 21050000, BIC: HSHNDEHHXXX
Gross
profit or loss:2012
EUR 17,570,000.00
2013 EUR 17,600,000.00
further business figures:
Ac/ts receivable: EUR 8,887,139.00
Liabilities: EUR 13,804,827.00
Employees:
151
-
thereof permanent staff: 151
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 27.47
Liquidity ratio: 0.67
Return on total capital [%]: 1.80
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 34.10
Liquidity ratio: 0.64
Return
on total capital [%]: -1.09
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 24.59
Liquidity ratio: 0.72
Return on total capital [%]: -2.38
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 49.85
Liquidity ratio: 1.00
Return on total capital [%]: 1.05
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 22,011,204.87
Fixed assets
EUR 4,345,520.55
Intangible assets
EUR 434,486.21
Other / unspecified intangible assetsEUR 434,486.21
Tangible assets
EUR 1,304,718.59
Other / unspecified tangible assets
EUR 1,304,718.59
Financial assets
EUR 2,606,315.75
Other / unspecified financial assets EUR 2,606,315.75
Current assets
EUR 17,565,385.51
Stocks EUR 8,211,058.76
Accounts receivable
EUR 8,887,139.42
Amounts due from related companies
EUR 5,151,760.83
Amounts due from investee companies
EUR 0.00
Other debtors and assets
EUR 3,735,378.59
Liquid means
EUR 467,187.33
Remaining other assets
EUR 100,298.81
Accruals (assets)
EUR 62,769.98
Deferred
taxes (assets) EUR 37,528.83
LIABILITIES EUR 22,011,204.87
Shareholders' equity
EUR 6,132,627.65
Capital
EUR 3,000,000.00
Subscribed capital (share capital)
EUR 3,000,000.00
Reserves
EUR 3,050,842.74
Capital reserves
EUR 864,000.00
Retained earnings / revenue reserves EUR 2,186,842.74
Balance sheet profit/loss (+/-)
EUR 81,784.91
Balance sheet profit / loss
EUR 81,784.91
Items between shareholders' equity and
debt capital
EUR 123,635.18
Allowances / bonuses
EUR 123,635.18
Provisions
EUR 1,857,712.00
Other / unspecified provisions
EUR 1,857,712.00
Liabilities
EUR 13,804,826.51
Other liabilities
EUR 13,804,826.51
Unspecified other liabilities
EUR 13,804,826.51
thereof liabilities from tax /
financial authorities
EUR 107,013.78
thereof liabilities from social
security
EUR 11,036.41
Other liabilities
EUR 92,403.53
Deferred taxes (not included under
provisions/liabilities)
EUR 92,403.53
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 17,560,975.36
Staff expenses
EUR 8,866,393.96
Wages and salaries EUR 7,408,986.46
Social security contributions and
expenses for pension plans and
benefits
EUR 1,457,407.50
Total depreciation
EUR 685,324.92
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 476,959.14
Depreciation on current assets (+/-)
EUR 208,365.78
Other operating expenses
EUR 6,400,207.58
Operating result from continuing
operations
EUR 1,609,048.90
Interest result (+/-)
EUR -526,735.65
Interest and similar income
EUR 77,835.86
thereof from related companies EUR 77,784.65
Interest and similar expenses
EUR 604,571.51
Other financial result
EUR -142,797.00
Depreciation on financial assets and
marketable securities
EUR 142,797.00
Financial result (+/-)
EUR -669,532.65
Result from ordinary operations (+/-)
EUR 939,516.25
Income tax / refund of income tax (+/-)EUR -546,219.07
Other
taxes / refund of taxes EUR -2,614.00
Tax
(+/-)
EUR -548,833.07
Annual surplus / annual deficit
EUR 390,683.18
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 24,156,200.88
Fixed assets
EUR 4,812,841.78
Intangible assets
EUR 466,515.30
Tangible assets
EUR 1,087,464.99
Financial assets
EUR 3,258,861.49
Current assets
EUR 19,143,489.38
Stocks
EUR 9,677,193.56
Accounts receivable
EUR 9,450,920.25
Other debtors and assets
EUR 9,450,920.25
Liquid means
EUR 15,375.57
Remaining other assets EUR 199,869.72
Accruals (assets)
EUR 39,339.90
Deferred taxes (assets)
EUR 160,529.82
LIABILITIES EUR 24,156,200.88
Shareholders' equity
EUR 5,741,944.47
Capital
EUR 3,000,000.00
Subscribed capital (share capital)
EUR 3,000,000.00
Reserves
EUR 3,050,842.74
Capital reserves EUR 864,000.00
Retained earnings / revenue reserves EUR 2,186,842.74
Balance sheet profit/loss (+/-)
EUR -308,898.27
Balance sheet profit / loss
EUR -308,898.27
Items between shareholders' equity and
debt capital
EUR 77,395.81
Allowances / bonuses
EUR 77,395.81
Provisions
EUR 852,412.00
Other
/ unspecified provisions EUR 852,412.00
Liabilities
EUR 17,395,700.88
Other liabilities
EUR 17,395,700.88
Unspecified other liabilities
EUR 17,395,700.88
Other liabilities
EUR 88,747.72
Deferred taxes (not included under
provisions/liabilities)
EUR 88,747.72
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 13,651,522.66
Staff expenses
EUR 8,187,603.23
Wages and salaries
EUR 6,855,490.11
Social security contributions and
expenses for pension plans and
benefits
EUR 1,332,113.12
Total depreciation
EUR 406,608.23
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 406,608.23
Other operating expenses
EUR 4,640,427.06
Operating result from continuing
operations
EUR 416,884.14
Interest result (+/-)
EUR -708,974.89
Interest and similar income
EUR 30,500.86
thereof from related companies
EUR 30,500.86
Interest and similar expenses
EUR 739,475.75
thereof
paid to related companies EUR 0.00
Financial result (+/-)
EUR -708,974.89
Result from ordinary operations (+/-)
EUR -292,090.75
Extraordinary income
EUR 53,339.84
Extraordinary result (+/-)
EUR 53,339.84
Income tax / refund of income tax (+/-)EUR 34,754.60
Other taxes / refund of taxes
EUR -2,253.73
Tax
(+/-)
EUR 32,500.87
Annual surplus / annual deficit
EUR -206,250.04
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.45 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.