|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ESPRIT |
|
|
|
|
Registered Office : |
Esprit-Allee 1, D 40882 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Com. Reg. No.: |
HRB 32901 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Agents
involved in the sale of textiles, apparel, footwear and leatherware ·
Service activities
incidental to transportation ·
Advertising
agencies |
|
|
|
|
No. of Employees : |
234 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 |
ESPRIT EUROPE SERVICES GMBH
Company Status: active
Esprit-Allee 1
D 40882 Ratingen
Telephone:02102/1230
Telefax:
02102/12315100
Homepage: www.esprit.com
E-mail:
info@esprit.com
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1995
Shareholders'
agreement: 27.11.1995
Registered on: 03.01.1996
Commercial Register: Local court 40227 Düsseldorf
under: HRB
32901
Share capital: EUR 2,700,000.00
Shareholder:
Esprit Europe GmbH
Esprit-Allee
D 40882 Ratingen
Legal form: Private
limited company
Share capital: EUR 5,112,918.81
Share: EUR
2,700,000.00
Registered on: 17.11.1992
Reg. data: 40227
Düsseldorf, HRB 28967
Control and profit
transfer agreement
Manager:
José Antonio Ramos
D 40210 Düsseldorf
born: 08.03.1972
Nationality: Spanish
Manager:
Juan Antonio Chaparro
Vazquez
D 40210 Düsseldorf
born: 07.09.1969
Manager:
Markus Skowronek
D 40210 Düsseldorf
born: 30.10.1972
Proxy:
Julia Merkel
D 50667 Köln
authorized to jointly represent
the company
born: 17.10.1965
Profession: Businessman
Proxy:
Ernst-Peter Vogel
D 40210 Düsseldorf
authorized to jointly
represent the company
born: 03.10.1964
Marital status: unknown
Further
functions/participations of José Antonio Ramos (Manager)
Manager:
Esprit Europe GmbH
Esprit-Allee
D 40882 Ratingen
Legal form: Private
limited company
Share capital: EUR 5,112,918.81
Registered
on: 17.11.1992
Reg. data: 40227 Düsseldorf, HRB 28967
03.01.1996 - 15.10.2003 Esprit
Europe Services GmbH
Vogelsanger Weg 49
D 40470 Düsseldorf
Private limited company
15.10.2003 - 18.01.2005 Esprit
Europe Services GmbH
Esprit-Allee 1
D 40882 Ratingen
Private limited company
18.01.2005 - 22.01.2007 Esprit
Europe Trading & Product
Development GmbH
Esprit-Allee 1
D 40882 Ratingen
Private limited company
12.02.2004 - 18.12.2013 Manager
Ernst-Peter Vogel
D 40210 Düsseldorf
01.07.2010 - 08.08.2013 Manager
Tanya Todd
B
Wezembeck Oppen
27.01.2010 - 16.01.2013 Manager
Wolbrand Teunis Cornelis
Van der Vis
NL Laren
Main
industrial sector
4616
Agents involved in the sale of textiles, apparel, footwear and
leatherware
4641
Wholesale of textiles
52299
Service activities incidental to transportation n.e.c.
73110
Advertising agencies
Payment experience: takes
advantage of cash discount
Negative information: We have no negative information at hand.
Balance sheet year: 2011/2012
Type of ownership: Tenant
Address Esprit-Allee
1
D 40882 Ratingen
Land register documents were not available.
COMMERZBANK VORMALS DRESDNER BANK, 40832
RATINGEN
Sort. code: 30080000
BIC: DRESDEFF300
BHF-BANK, 40213 DÜSSELDORF
Sort. code: 30020500
BIC: BHFBDEFF300
DEUTSCHE BANK, 40878 RATINGEN
Sort. code: 30070010
BIC: DEUTDEDDXXX
UNICREDIT BANK - HYPOVEREINSBANK, 40212
DÜSSELDORF
Sort. code: 30220190
BIC: HYVEDEMM414
HSBC TRINKAUS & BURKHARDT, 40002
DÜSSELDORF
Sort. code: 30030880
BIC: TUBDDEDDXXX
Turnover: 2011/2012 EUR 1,314,557,532.00
Profit: 2011/2012 EUR -75,187,051.00
Equipment: EUR
840,491.00
Ac/ts receivable: EUR
543,193,494.00
Liabilities: EUR 814,984,008.00
Employees: 234
Control and profit transfer agreement to:
Esprit Europe GmbH
Esprit-Allee
D 40882 Ratingen
Balance sheet ratios 01.07.2011 - 30.06.2012
Equity ratio [%]: 16.10
Liquidity ratio: 0.01
Return on total capital [%]: -24.41
Balance sheet ratios 01.07.2010 - 30.06.2011
Equity ratio [%]: 62.21
Liquidity ratio: 2.61
Return on total capital [%]: 1.07
Balance sheet ratios 01.07.2009 - 30.06.2010
Equity ratio [%]: 50.81
Liquidity ratio: 2.14
Return on total capital [%]: 14.99
Balance
sheet ratios 01.07.2008 - 30.06.2009
Equity ratio [%]: 54.39
Liquidity ratio: 3.70
Return on total capital [%]: 13.92
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 850,017,045.61
Fixed assets EUR 46,328,473.30
Intangible assets
EUR 337,051.00
Concessions, licences, rights
EUR 337,051.00
Tangible assets
EUR 45,991,422.30
Other tangible assets / fixtures and
fittings
EUR 840,491.00
Advance payments made / construction
in progress
EUR 45,150,931.30
Current assets EUR 803,516,252.01
Stocks
EUR 153,886,692.19
Finished goods / work in progress
EUR 153,886,692.19
Accounts receivable
EUR 543,193,494.23
Trade debtors
EUR 935,366.37
Amounts due from related companies
EUR 541,963,734.37
Other debtors and assets
EUR 294,393.49
Liquid means
EUR 106,436,065.59
Remaining other assets
EUR 172,320.30
Accruals (assets)
EUR 172,320.30
LIABILITIES EUR 850,017,045.61
Shareholders' equity
EUR 2,700,000.00
Capital
EUR 2,700,000.00
Subscribed capital (share capital)
EUR 2,700,000.00
Provisions
EUR 32,333,037.80
Other / unspecified provisions
EUR 32,333,037.80
Liabilities
EUR 814,984,007.81
Other liabilities
EUR 814,984,007.81
Trade creditors (for IAS incl. bills
of exchange)
EUR 30,123,776.55
Liabililties due to related companiesEUR 784,504,978.36
Unspecified other liabilities
EUR 355,252.90
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales EUR 1,314,557,531.83
Other operating income
EUR 15,973,062.18
Cost of materials
EUR 1,155,196,958.70
Raw materials and supplies, purchased
goods
EUR 1,155,196,958.70
Gross result (+/-)
EUR 175,333,635.31
Staff expenses
EUR 15,335,648.34
Wages and salaries
EUR 13,285,345.72
Social security contributions and
expenses for pension plans and
benefits
EUR 2,050,302.62
Total depreciation
EUR 456,069.55
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 456,069.55
Other operating expenses
EUR 235,590,763.66
Operating result from continuing
operations
EUR -76,048,846.24
Interest result (+/-)
EUR 3,996,032.70
Interest and similar income
EUR 7,001,632.12
Interest and similar expenses
EUR 3,005,599.42
Other financial result
EUR -3,139,841.64
Depreciation
on financial assets and
marketable securities
EUR 3,139,841.64
Financial result (+/-)
EUR 856,191.06
Result from ordinary operations (+/-)
EUR -75,192,655.18
Income from assumption of loss by
parent company
EUR 75,187,051.09
Income tax / refund of income tax (+/-)EUR 6,776.09
Other taxes / refund of taxes
EUR -1,172.00
Tax (+/-)
EUR 5,604.09
Annual surplus / annual deficit
EUR 0.00
Type of
balance sheet: Company balance sheet
Financial
year: 01.07.2010 - 30.06.2011
ASSETS EUR 786,539,199.51
Fixed assets
EUR 27,277,646.54
Intangible assets
EUR 511,299.00
Concessions, licences, rights
EUR 511,299.00
Tangible assets EUR
23,626,505.90
Other tangible assets / fixtures and
fittings
EUR 285,431.39
Advance payments made / construction
in progress
EUR 23,341,074.51
Financial assets
EUR 3,139,841.64
Loans to participations /
subsidiaries and the like
EUR 3,139,841.64
Loans to related companies
EUR 3,139,841.64
Current assets EUR 759,058,306.96
Stocks
EUR 176,215,442.86
Finished goods / work in progress
EUR 176,215,442.86
Accounts receivable
EUR 535,709,582.78
Trade debtors EUR 2,798,147.21
Amounts due from related companies
EUR 531,720,294.93
Other debtors and assets
EUR 1,191,140.64
Liquid means
EUR 47,133,281.32
Remaining other assets
EUR 203,246.01
Accruals (assets)
EUR 203,246.01
LIABILITIES EUR 786,539,199.51
Shareholders' equity
EUR 2,700,000.00
Capital
EUR 2,700,000.00
Subscribed capital (share capital)
EUR 2,700,000.00
Provisions
EUR 44,922,686.90
Other / unspecified provisions
EUR 44,922,686.90
Liabilities
EUR 738,916,512.61
Other liabilities
EUR 738,916,512.61
Trade creditors (for IAS incl. bills
of exchange)
EUR 25,396,382.95
Liabililties due to related companiesEUR 712,399,816.48
Unspecified other liabilities
EUR 1,120,313.18
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales
EUR 1,497,614,945.87
Other operating income
EUR 17,542,008.56
Cost of materials
EUR 1,300,672,015.08
Raw materials and supplies, purchased
goods
EUR 1,300,672,015.08
Gross result (+/-)
EUR 214,484,939.35
Staff expenses
EUR 13,465,577.13
Wages and salaries
EUR 11,640,378.06
Social security contributions and
expenses for pension plans and
benefits
EUR 1,825,199.07
Total depreciation
EUR 387,485.29
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 387,485.29
Other operating expenses
EUR 196,099,805.54
Operating result from continuing
operations
EUR 4,532,071.39
Interest result (+/-) EUR 3,849,210.64
Interest and similar income
EUR 5,347,739.37
Interest and similar expenses
EUR 1,498,528.73
Financial result (+/-)
EUR 3,849,210.64
Result from ordinary operations (+/-)
EUR 8,381,282.03
Expenses for transfer of profits to a
parent company
EUR 8,389,067.99
Income tax / refund of income tax (+/-)EUR 8,427.96
Other taxes / refund of taxes EUR -642.00
Tax (+/-)
EUR 7,785.96
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.