|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BETTENWELT GMBH & CO. KG |
|
|
|
|
Registered Office : |
Stadtweg 2 Ortsteil Weding, D 24976
Handewitt |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.08.2010 |
|
|
|
|
Date of Incorporation : |
15.09.1995 |
|
|
|
|
Com. Reg. No.: |
HRA 3595 FL |
|
|
|
|
Legal Form : |
Ltd partnership with priv. ltd. company
as general partner |
|
|
|
|
Line of Business : |
·
Wholesaler
of textiles ·
Wholesaler
of furniture, carpets and rugs and lighting |
|
|
|
|
No. of Employees : |
317 |
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 : |
Unknown |
|
|
|
|
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 |
Bettenwelt GmbH
& Co. KG
Stadtweg 2 Ortsteil Weding
D 24976 Handewitt
Telephone: 04630/975-0
Telefax:
04630/975-201
Homepage: www.daenischesbettenlager.de
E-mail:
info@dbl-zentrale.com
DE811939576
active
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 15.09.1995
Begin of business
activities: 15.09.1995
Registered on: 15.09.1995
Register of
companies: Local
court 24937 Flensburg
under: HRA
3595 FL
Total cap. contribution: EUR
75,000,000.00
JYSK BW GmbH
Stadtweg 2
D 24976 Handewitt
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 75,000,000.00
Registered on: 23.11.2010
Reg. data: 24937 Flensburg, HRB 8537 FL
Bettenwelt GmbH
Stadtweg 2
D 24976 Handewitt
Legal form: Private limited company
Share capital: EUR 26,000.00
Registered on: 13.07.1984
Reg. data: 24937 Flensburg, HRB 1552 FL
Lars Kristinus Larsen
Kjeldabelsvej 8
DK 8600 Silkeborg
born: 06.08.1948
Share: EUR 26,000.00
Lars Kristinus Larsen
Kjeldabelsvej 8
DK 8600 Silkeborg
having sole power of representation
born: 06.08.1948
Profession: Director
Nationality: danish
Marital status: married
Age Nielsen * Kaufmann *
.
DK 6200 Aabenraa
having sole power of representation
born: 21.07.1958
Nationality: danish
Proxy:
Ole
Nissen Nielsen * Kaufmann *
Grasten
DK 6300 Rinkenäs
having sole power of
representation
born: 23.03.1960
Nationality: danish
24.10.1995 - 13.07.1998 Bettenwelt GmbH & Co. KG
Europastr. 33
D 24976 Handewitt
Ltd partnership with
priv. ltd. company
as general
partner
14.08.2006 -
17.12.2009 Bettenwelt GmbH & Co. KG
Stadtweg 2
D
24976 Handewitt
Ltd partnership with priv. ltd. company
as general partner
Main industrial sector
46410
Wholesale of textiles
Secondary industrial sector
46470
Wholesale of furniture, carpets and rugs and lighting
Branch:
Bettenwelt GmbH & Co.
KG
Bahnhofstr. 38a
D 19246 Zarrentin
TEL.: 038851/8260
Payment experience: within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2009/2010
Type of ownership: proprietor
Share: 100.00 %
Address Stadtweg 2 Ortsteil Weding
D 24976 Handewitt
Real Estate of: Bettenwelt GmbH
Type of ownership: Tenant
Address Stadtweg 2
D 24976 Handewitt
Land register documents were not
available.
Principal bank
COMMERZBANK, FLENSBURG
Sort. code: 21540060, BIC: COBADEFF215
Further banks
UNICREDIT BANK - HYPOVEREINSBANK, FLENSBURG
Sort. code: 20030000, BIC: HYVEDEMM300
SYDBANK FILIALE FLENSBURG, FLENSBURG
Sort. code: 21510600, BIC: SYBKDE22XXX
Turnover: 2011/2012 EUR 341,000,500.00
Equipment: EUR 1,029,821.00
Ac/ts
receivable:
EUR 26,227,331.00
Liabilities: EUR 137,112,343.00
Employees:
317
- thereof permanent
staff:
317
Balance sheet
ratios 01.09.2009 - 31.08.2010
Equity ratio
[%]: 34.85
Liquidity
ratio: 0.20
Return on total
capital [%]: 7.89
Balance sheet
ratios 01.09.2008 - 31.08.2009
Equity ratio
[%]: 42.53
Liquidity
ratio: 0.06
Return on total
capital [%]: 11.20
Balance sheet
ratios 01.09.2007 - 31.08.2008
Equity ratio
[%]: 12.62
Liquidity
ratio: 0.10
Return on total
capital [%]: 3.62
Balance sheet
ratios 01.09.2006 - 31.08.2007
Equity ratio
[%]: 12.61
Liquidity
ratio: 0.10
Return on total
capital [%]: 3.82
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: 01.09.2009 - 31.08.2010
ASSETS EUR 218,732,983.13
Fixed assets EUR 70,952,298.65
Intangible assets EUR 176,858.41
Concessions, licences, rights EUR 176,858.41
Tangible assets EUR 70,775,440.24
Land / similar rights EUR 32,359,901.34
Plant / machinery EUR 14,012,680.24
Other tangible assets / fixtures and
fittings EUR 1,029,821.00
Advance payments made / construction
in progress EUR 23,373,037.66
Current assets EUR 147,701,910.04
Stocks EUR 117,299,438.45
Finished goods / work in progress EUR
117,231,808.53
Advance payments made EUR 67,629.92
Accounts receivable EUR 26,227,331.60
Trade debtors EUR 3,699,470.74
Amounts due from related companies EUR
14,686,453.78
Other debtors and assets EUR
7,841,407.08
Liquid means EUR 4,175,139.99
Remaining other assets EUR 78,774.44
Accruals (assets) EUR 78,774.44
LIABILITIES EUR 218,732,983.13
Shareholders' equity EUR 75,003,977.28
Capital EUR 75,003,977.28
Capital of the fully liable partner
(LP, general partnership) EUR 3,977.28
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder EUR 3,977.28
Limited partner's capital / capital
of partially liable partner (LP) EUR
75,000,000.00
Items between shareholders' equity and
debt capital EUR 4,426,299.00
Special items with reserve funds EUR 2,576,920.00
Allowances / bonuses EUR 1,849,379.00
Provisions EUR 2,190,363.46
Provisions for taxes EUR 358,600.00
Other / unspecified provisions EUR 1,831,763.46
Liabilities EUR 137,112,343.39
Financial debts EUR 589,050.00
Liabilities due to banks EUR 589,050.00
Other liabilities EUR 136,523,293.39
Trade creditors (for IAS incl. bills
of exchange) EUR 28,320,196.00
Liabililties due to related
companiesEUR 101,540,420.37
Unspecified other liabilities EUR 6,662,677.02
thereof liabilities from tax /
financial authorities EUR 1,251,073.75
thereof liabilities from social
security EUR 0.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 339,894,780.54
Other operating income EUR 8,131,271.19
Cost of materials EUR 276,172,388.76
Raw materials and supplies, purchased
goods EUR
276,172,388.76
Gross result (+/-) EUR 71,853,662.97
Staff expenses EUR 11,514,320.68
Wages and salaries EUR 9,695,166.46
Social security contributions and
expenses for pension plans and
benefits EUR 1,819,154.22
Total depreciation EUR 4,992,986.24
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 4,992,986.24
Other operating expenses EUR 34,031,332.43
Operating result from continuing
operations EUR 21,315,023.62
Interest result (+/-) EUR -1,528,760.87
Interest and similar income EUR 9,081.26
Interest and similar expenses EUR 1,537,842.13
Financial result (+/-) EUR -1,528,760.87
Result from ordinary operations (+/-) EUR
19,786,262.75
Income tax / refund of income tax
(+/-)EUR -2,336,796.80
Other taxes / refund of taxes EUR -196,385.03
Tax (+/-) EUR -2,533,181.83
Annual surplus / annual deficit EUR 17,253,080.92
Type of balance
sheet: Company balance sheet
Financial year: 01.09.2008 - 31.08.2009
ASSETS EUR 164,733,688.18
Fixed assets EUR 53,006,011.56
Intangible assets EUR 707,689.57
Concessions, licences, rights EUR 707,689.57
Tangible assets EUR 52,298,321.99
Land / similar rights EUR 34,085,174.20
Plant / machinery EUR 16,213,705.74
Other tangible assets / fixtures and
fittings EUR 895,481.01
Advance payments made / construction
in progress EUR 1,103,961.04
Current assets EUR 111,661,102.85
Stocks EUR 83,067,606.55
Finished goods / work in progress EUR
82,974,683.52
Advance payments made EUR 92,923.03
Accounts receivable EUR 14,634,326.99
Trade debtors EUR 2,806,461.15
Amounts due from related companies EUR
10,683,717.41
Other debtors and assets EUR 1,144,148.43
Liquid means EUR 13,959,169.31
Remaining other assets EUR 66,573.77
Accruals (assets) EUR 66,573.77
LIABILITIES EUR 164,733,688.18
Shareholders' equity EUR 75,005,421.21
Capital EUR 75,005,421.21
Capital of the fully liable partner
(LP, general partnership) EUR 5,421.21
Fixed capital / accounts, capital
account I EUR 5,421.21
Limited partner's capital / capital
of partially liable partner (LP) EUR
75,000,000.00
Items between shareholders' equity and
debt capital EUR 4,806,504.00
Special items with reserve funds EUR 2,798,650.00
Allowances / bonuses EUR 2,007,854.00
Provisions EUR 2,844,660.66
Provisions for taxes EUR 1,508,250.00
Other / unspecified provisions EUR 1,336,410.66
Liabilities EUR 82,077,102.31
Financial debts EUR 2,812,950.00
Liabilities due to banks EUR 2,812,950.00
Other liabilities EUR 79,264,152.31
Trade creditors (for IAS incl. bills
of exchange) EUR 17,368,616.58
Liabililties due to related
companiesEUR 58,075,150.93
Unspecified other liabilities EUR 3,820,384.80
thereof liabilities from tax /
financial authorities EUR 1,251,073.75
thereof liabilities from social
security EUR 0.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 338,536,280.55
Other operating income EUR 8,411,557.97
Cost of materials EUR 272,781,744.03
Raw materials and supplies, purchased
goods EUR 272,781,744.03
Gross result (+/-) EUR 74,166,094.49
Staff expenses EUR 11,501,242.51
Wages and salaries EUR 9,651,945.16
Social security contributions and
expenses for pension plans and
benefits EUR 1,849,297.35
Total depreciation EUR 5,383,908.31
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 5,383,908.31
Other operating expenses EUR 32,390,090.12
Operating result from continuing
operations EUR 24,890,853.55
Interest result (+/-) EUR -4,701,142.45
Interest and similar income EUR 110,807.71
Interest and similar expenses EUR 4,811,950.16
thereof paid to related companies EUR
4,805,454.35
Financial result (+/-) EUR -4,701,142.45
Result from ordinary operations (+/-) EUR
20,189,711.10
Income tax / refund of income tax
(+/-)EUR -2,788,200.23
Other taxes / refund of taxes EUR -189,410.78
Tax (+/-) EUR -2,977,611.01
Annual surplus / annual deficit
EUR 17,212,100.09
The
company has exercised the option not to publish its annual financial statement
for 01.09.2010 – 31.08.2011 and 01.09.2011 – 31.08.2012.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
UK Pound |
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
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.