|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GABOR SHOES AKTIENGESELLSCHAFT |
|
|
|
|
Registered Office : |
Marienberger Str. 31, D 83024 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.02.1949 |
|
|
|
|
Com. Reg. No.: |
HRB 9155 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture
of footwear ·
Agents
involved in the sale of footwear, leatherware and luggage |
|
|
|
|
No. of Employees : |
265 |
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 |
GABOR SHOES AKTIENGESELLSCHAFT
Company Status: active
Marienberger Str. 31
D 83024 Rosenheim
Telephone:08031/801-0
Telefax: 08031/801275
Homepage: www.gabor.de
E-mail:
j.scharnagl@gabor.de
VAT no.: DE131177880
Tax ID number: 156/115/50275
Business
relations are permissible.
LEGAL FORM Public
limited company
Date of foundation: 01.02.1949
Registered on: 11.11.1966
Commercial Register: Local court 83278 Traunstein
under: HRB 9155
Share
capital: EUR 10,000,000.00
Shareholder:
Martin-Rolf Gabor
D 83022 Rosenheim
Share: 25.000 %
Shareholder:
Axel-Florian Gabor
Meraner Str. 47
D 83024 Rosenheim
born: 18.05.1965
Share: 25.000 %
Shareholder:
Achim Gabor
D 83024 Rosenheim
born: 26.03.1967
Share: 11.000 %
Shareholder:
Pia Gabor-Janzen
D 69118 Heidelberg
Share: 11.000 %
President of
the Board of Directors:
Achim Gabor
D 83024 Rosenheim
born: 26.03.1967
Member of
the Board of Directors:
Martin Hofmann
D 80331 München
authorized to jointly
represent the company
born: 19.05.1957
Member of
the Board of Directors:
Michael Tackenberg
D 83052 Bruckmühl
authorized to jointly
represent the company
born: 12.07.1965
President of
the Supervisory Board:
Dr. Dieter Schenk
D 85521 Ottobrunn
born: 04.08.1952
Profession: lawyer and
tax consultant
Vice-president of the Supervisory Board:
Heinrich von
Kleist-Retzow
Amselweg 36
D 51467 Bergisch Gladbach
born: 21.09.1929
Property regime: joint
ownership of property
by a married couple.
Marital status: married
Member of
the Supervisory Board:
Michael Heidbreder
Alpenblickstr. 16
D 83026 Rosenheim
born: 1960
Marital status: married
Proxy:
Rainer Bachl
D 83064 Raubling
born: 21.06.1965
Proxy:
Andreas Bobbert
D 83026 Rosenheim
born: 26.12.1958
Proxy:
Reinhard Herberger
Äußere Münchener Str. 21
D 83026 Rosenheim
born: 18.02.1964
Marital status: unknown
Proxy:
Marc Kitowski
D 83022 Rosenheim
born: 29.09.1962
Proxy:
Harald Börzel
D 83022 Rosenheim
born: 26.07.1959
Proxy:
Ralf Meurer
OT Pfraundorf
D 83064 Raubling
born: 11.06.1964
Proxy:
Bernd Scharsig
D 83209 Prien
born: 01.04.1957
Proxy:
Martin Dietzinger
D 83022 Rosenheim
born: 08.08.1961
Proxy:
Josef Konrad Scharnagl
Kaltmühlweg 16a
D 83026 Rosenheim
born: 01.10.1967
Proxy:
Armin Euler
D 83109
Großkarolinenfeld
born: 28.02.1964
Proxy:
Johann Haas
A Sachsenberg
authorized to jointly
represent the company
born: 19.12.1955
Nationality: Austrian
Proxy:
Michael Scheidegger
D 83022 Rosenheim
born: 13.01.1959
Proxy:
Markus-Alois Reheis
D 83134 Prutting
authorized to jointly
represent the company
born: 16.09.1970
Proxy:
Christine Deingruber
D 83024 Rosenheim
authorized to jointly
represent the company
born: 25.06.1970
Further
functions/participations of Achim Gabor (President of the Board of Directors)
Manager:
Fareen Schuh GmbH
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private
limited company
Share capital: EUR 51,129.19
Registered
on: 01.03.1991
Reg. data:
83278 Traunstein, HRB 6817
Manager:
Gabor Shop & Store
Gesellschaft mit
beschränkter Haftung
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private limited company
Share capital: EUR 6,000,000.00
Registered
on: 09.06.1972
Reg. data: 83278 Traunstein, HRB 557
Member of
the Board of Directors:
Bundesverband der
Schuhindustrie e.V.
Waldstr. 44
D 63065 Offenbach
Post Box:
10 07 61
Legal form: Registered
association
Registered
on: 01.01.1955
Reg. data: 53111 Bonn, VR 5260
Further
functions/participations of Martin Hofmann (Member of the Board of Directors)
Manager:
Gabor Shop &
Store Gesellschaft mit
beschränkter Haftung
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private
limited company
Share capital: EUR 6,000,000.00
Registered
on: 09.06.1972
Reg. data: 83278 Traunstein, HRB 557
Manager:
Gabor Footwear GmbH
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private
limited company
Share capital: EUR 4,700,000.00
Registered
on: 09.12.1998
Reg. data: 83278 Traunstein, HRB 11696
01.02.1949 - 11.11.1966 Joachim
Gabor
Marienberger Str. 31
D 83024 Rosenheim
Unregistered commercial enterprise
11.11.1966 - 20.12.1994 Gabor GmbH
Marienberger Str. 31
D 83024 Rosenheim
Private limited company
20.12.1994 - 2001 Gabor
Shoes Aktiengesellschaft
Marienberger Str. 31
D 83024 Rosenheim
Public limited company
Main
industrial sector
1520
Manufacture of footwear
46165
Agents involved in the sale of footwear, leatherware and luggage
Branch:
Gabor Shoes
Aktiengesellschaft
Allgäuer Str. 18
D 87719 Mindelheim
Shareholder:
Gabor Shop & Store
Gesellschaft mit
beschränkter Haftung
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private
limited company
Company Status: active
Share capital: EUR 6,000,000.00
Share: EUR 6,000,000.00
Reg. data: 09.06.1972
Local court 83278 Traunstein
HRB 557
Shareholder:
Gabor Footwear GmbH
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private
limited company
Company Status: active
Share capital: EUR 4,700,000.00
Share: EUR 4,700,000.00
Reg. data: 09.12.1998
Local court 83278
Traunstein
HRB 11696
Shareholder:
Fareen Schuh GmbH
Marienberger Str. 31
D 83024 Rosenheim
Legal form: Private
limited company
Company Status: active
Share capital: EUR 51,129.19
Share: EUR 51,129.19
Reg. data: 01.03.1991
Local court
83278 Traunstein
HRB 6817
Payment experience: cash
discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: proprietor
Share: 100.00 %
Address Marienberger Str. 31
D 83024 Rosenheim
Land register documents were not available.
Principal bank
UNICREDIT BANK - HYPOVEREINSBANK, 83001
ROSENHEIM, OBERBAY
Sort. code: 71120077
BIC: HYVEDEMM448
Further bank
DEUTSCHE BANK, 83012 ROSENHEIM, OBERBAY
Sort. code: 70070010
BIC: DEUTDEMMXXX
Turnover: 2012 EUR 284,954,629.00
Profit: 2012 EUR
14,022,633.00
Equipment: EUR
2,592,153.00
Ac/ts receivable: EUR
21,074,139.00
Liabilities: EUR 29,309,885.00
Employees:
265
- Trainees: 36
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 49.92
Liquidity ratio: 4.19
Return on total capital [%]: 9.77
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 49.11
Liquidity ratio: 2.79
Return on total capital [%]: 20.17
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 40.82
Liquidity ratio: 0.97
Return on total capital [%]: 12.44
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 32.91
Liquidity ratio: 0.78
Return on total capital [%]: 1.78
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 143,584,047.41
Fixed
assets EUR 56,155,972.61
Intangible assets
EUR 1,230,039.50
Concessions, licences, rights
EUR 1,210,802.00
Advance payments for intang. assets
EUR 19,237.50
Tangible assets
EUR 5,684,362.17
Land / similar rights
EUR 1,509,817.17
Plant / machinery
EUR 1,582,392.00
Other tangible assets / fixtures and
fittings EUR 2,592,153.00
Financial assets
EUR 49,241,570.94
Shares in participations /
subsidiaries and the like
EUR 41,920,607.92
Shares in related companies
EUR 41,879,092.49
Shares in investee companies
EUR 41,515.43
Loans to participations /
subsidiaries and the like
EUR 7,250,000.00
Loans to related companies
EUR 7,250,000.00
Other loans
EUR 70,963.02
Current assets
EUR 87,323,483.31
Stocks
EUR 41,972,301.48
Raw materials, consumables and
supplies
EUR 2,535,011.48
Finished goods / work in progress
EUR 39,437,290.00
Accounts receivable
EUR 21,074,138.51
Trade debtors
EUR 13,462,778.85
Amounts due from related companies
EUR 1,970,409.37
Other debtors and assets
EUR 5,640,950.29
Liquid means
EUR 24,277,043.32
Remaining other assets
EUR 104,591.49
Accruals (assets)
EUR 104,591.49
LIABILITIES EUR 143,584,047.41
Shareholders' equity
EUR 71,674,563.14
Capital EUR
10,000,000.00
Subscribed capital (share capital)
EUR 10,000,000.00
Reserves
EUR 41,071,022.02
Capital reserves
EUR 545,909.92
Retained earnings / revenue reserves EUR 40,525,112.10
Balance sheet profit/loss (+/-)
EUR 20,603,541.12
Profit / loss brought forward
EUR 6,580,908.02
Annual surplus / annual deficit
EUR 14,022,633.10
Provisions
EUR 42,599,599.72
Pension provisions and comparable
provisions
EUR 34,652,477.00
Other / unspecified provisions
EUR 7,947,122.72
Liabilities EUR 29,309,884.55
Other liabilities
EUR 29,309,884.55
Trade creditors (for IAS incl. bills
of exchange)
EUR 5,784,791.18
Liabilities from received advance
payments
EUR 597,905.44
Liabililties due to related companiesEUR 21,235,625.87
Liabilities due to investee companiesEUR 10,016.34
Unspecified other liabilities
EUR 1,681,545.72
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales
EUR 284,954,628.83
Other operating income
EUR 5,930,988.54
Cost of materials
EUR 217,997,292.67
Raw materials and supplies, purchased
goods
EUR 217,997,292.67
Gross result (+/-)
EUR 72,888,324.70
Staff expenses
EUR 17,350,616.58
Wages and salaries
EUR 13,403,541.79
Social security contributions and
expenses for pension plans and
benefits
EUR 3,947,074.79
Total depreciation EUR 3,115,931.08
Other operating expenses
EUR 45,916,622.57
Operating result from continuing
operations
EUR 6,505,154.47
Result from participating interests
(+/-) EUR 10,777,501.26
Expenses / income from participations EUR 10,777,501.26
Income from transfer of profits
EUR 777,501.26
Income from related companies
EUR 10,000,000.00
Interest result (+/-)
EUR -1,658,248.29
Interest and similar income
EUR 146,556.53
Interest and similar expenses
EUR 1,804,804.82
Other financial result
EUR 378,506.16
Income from securities and loans from
financial assets
EUR 378,506.16
Financial result (+/-)
EUR 9,497,759.13
Result from ordinary operations (+/-)
EUR 16,002,913.60
Income tax / refund of income tax (+/-)EUR -1,959,018.73
Other taxes / refund of taxes
EUR -21,261.77
Tax (+/-)
EUR -1,980,280.50
Annual surplus / annual deficit
EUR 14,022,633.10
Type of
balance sheet: Company
balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 136,743,249.16
Fixed assets
EUR 58,944,025.72
Intangible assets
EUR 1,676,107.89
Concessions, licences, rights
EUR 1,543,413.00
Advance payments for intang. assets
EUR 132,694.89
Tangible assets
EUR 7,201,187.17
Land / similar rights
EUR 1,680,407.17
Plant / machinery
EUR 2,515,782.00
Other tangible assets / fixtures and
fittings
EUR 2,999,679.00
Advance payments made / construction
in progress
EUR 5,319.00
Financial assets
EUR 50,066,730.66
Shares in participations /
subsidiaries and the like
EUR 41,920,607.92
Shares in related companies
EUR 41,879,092.49
Shares in investee companies
EUR 41,515.43
Loans to participations /
subsidiaries and the like
EUR 8,085,033.00
Loans to related companies
EUR 8,085,033.00
Other loans
EUR 61,089.74
Current assets
EUR 77,510,253.69
Stocks
EUR 39,049,856.48
Raw materials, consumables and
supplies
EUR 2,396,356.48
Finished goods / work in progress
EUR 36,653,500.00
Accounts receivable
EUR 17,880,669.61
Trade debtors
EUR 10,863,323.67
Amounts due from related companies
EUR 2,758,542.57
Amounts due from investee companies
EUR 73,890.56
Other debtors and assets
EUR 4,184,912.81
Liquid means
EUR 20,579,727.60
Remaining other assets
EUR 288,969.75
Accruals (assets)
EUR 288,969.75
LIABILITIES EUR 136,743,249.16
Shareholders' equity
EUR 67,151,930.04
Capital
EUR 10,000,000.00
Subscribed capital (share capital)
EUR 10,000,000.00
Reserves
EUR 26,071,022.02
Capital reserves
EUR 545,909.92
Retained earnings / revenue reserves EUR 25,525,112.10
Balance sheet profit/loss (+/-)
EUR 31,080,908.02
Profit / loss brought forward EUR 3,494,921.98
Annual surplus / annual deficit
EUR 27,585,986.04
Provisions
EUR 42,602,022.18
Pension provisions and comparable
provisions
EUR 33,930,851.84
Provisions for taxes
EUR 453,014.00
Other / unspecified provisions
EUR 8,218,156.34
Liabilities
EUR 26,989,296.91
Other liabilities
EUR 26,989,296.91
Trade creditors (for IAS incl. bills
of exchange)
EUR 5,076,000.00
Liabilities from received advance
payments
EUR 252,534.94
Liabililties
due to related companiesEUR
20,478,091.61
Unspecified other liabilities
EUR 1,182,670.36
Difference assets / liabilities
EUR 0.03
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales
EUR 274,926,124.18
Other operating income
EUR 6,522,375.77
Cost of materials
EUR 205,862,404.60
Raw materials and supplies, purchased
goods
EUR 205,862,404.60
Gross result (+/-)
EUR 75,586,095.35
Staff expenses
EUR 15,662,828.99
Wages and salaries
EUR 13,152,229.44
Social security contributions and
expenses for pension plans and
benefits
EUR 2,510,599.55
Total depreciation
EUR 3,150,444.51
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 3,150,444.51
Other operating expenses
EUR 44,674,864.35
Operating result from continuing
operations
EUR 12,097,957.50
Result from participating interests
(+/-)
EUR 21,349,198.47
Expenses / income from participations EUR 21,349,198.47
Income from transfer of profits
EUR 1,349,198.47
Income from related companies
EUR 20,000,000.00
Interest result (+/-)
EUR -1,858,193.96
Interest and similar income
EUR 150,885.77
Interest and similar expenses
EUR 2,009,079.73
Other financial result
EUR 413,781.65
Income from securities and loans from
financial assets
EUR 413,781.65
Financial result (+/-)
EUR 19,904,786.16
Result from ordinary operations (+/-)
EUR 32,002,743.66
Income tax / refund of income tax (+/-)EUR -4,391,602.66
Other taxes / refund of taxes
EUR -25,154.96
Tax (+/-)
EUR -4,416,757.62
Annual surplus / annual deficit
EUR 27,585,986.04
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
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