MIRA INFORM REPORT

 

 

Report Date :

14.01.2014

 

IDENTIFICATION DETAILS

 

Name :

BREE COLLECTION GMBH & CO. KG

 

 

Registered Office :

Gerberstr. 3, D 30916 Isernhagen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

29.11.1989

 

 

Com. Reg. No.:

HRA 120075

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Subject is engaged in the Retail sale of leatheware and baggage

 

 

No. of Employees :

214

 

 

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

 

Company name & address

 

BREE COLLECTION GMBH & CO. KG

 

 Company Status:          active

                                    Gerberstr. 3

                                    D 30916 Isernhagen

                                    Telephone:05136/8976-0

                                     Telefax:  05136/8976-229

                                    Homepage: www.bree.com

                                    E-mail:   info@bree.de

 

 VAT no.:                      DE174230653

 Tax ID number:             16/201/31509

 

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Ltd partnership with priv. ltd. company as general partner

 Date of foundation:        29.11.1989

 Registered on:              29.12.1995

 Register of

 companies:                  Local court 30175 Hannover

 under:                          HRA 120075

 

 Total cap. contribution:                EUR          5,600,000.00

 

 Limited partner:

                      Axel Bree

                      Auf der Heide 3

                      D 30916 Isernhagen

                      born: 19.03.1968

                      Share:             EUR          2,800,000.00

 Limited partner:

                      Philipp Bree

                      Frickastr. 23

                      D 30657 Hannover

                      born: 01.10.1971

                      Share:             EUR          2,800,000.00

 

General partner:

                      Bree GmbH

                      Gerberstr. 3

                      D 30916 Isernhagen

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Registered on: 24.03.1982

                      Reg. data: 30175 Hannover, HRB 121274

 

 Shareholder:

                      BREE Collection GmbH & Co. KG

                      Gerberstr. 3

                      D 30916 Isernhagen

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR          5,600,000.00

                      contribution:

                      Share:             EUR             25,564.59

                      Registered on: 29.12.1995

                      Reg. data: 30175 Hannover, HRA 120075

 Manager:

                      Axel Bree

                      Auf der Heide 3

                      D 30916 Isernhagen

                      having sole power of representation

                      born: 19.03.1968

 Proxy:

                      Antje Wode

                      D 31275 Lehrte

                      authorized to jointly represent the company

                      born: 20.01.1966

 

 Further functions/participations of Bree GmbH (General partner)

 General partner:

                      BREE Collection GmbH & Co.

                      Besitzgesellschaft KG

                      Gerberstr. 3

                      D 30916 Isernhagen

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                                  dissolved

                      Total cap.         EUR            511,291.88

                      contribution:

                      Registered

                      on:         06.07.1972

                      Reg. data:  30175 Hannover, HRA 120117

 

 

 COMPANY HISTORY

 

 22.03.1990 - 29.12.1995  BREE Collection GmbH

                                     Gerberstr. 3

                                                 D 30916 Isernhagen

                                    Private limited company

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 47722   Retail sale of leatheware and baggage

 

 

 BRANCHES AND FACTORIES

 

Branch:           BREE Collection GmbH & Co. KG

                      Tilsiter Str. 15

                      D 71065 Sindelfingen

 

Branch:          BREE Collection GmbH & Co. KG

                      Osdorfer Landstr. 131

                      D 22609 Hamburg

                      TEL.: 040/80995093

 

Branch:          BREE Collection GmbH & Co. KG

                      Europaplatz

                      D 76133 Karlsruhe

 

Branch:          BREE Collection GmbH & Co. KG

                      Ollenhauerstr. 6

                      D 81737 München

                      TEL.: 089/67917556

 

Branch:          BREE Collection GmbH & Co. KG

                      D 25980 Sylt

 

Branch:          BREE Collection GmbH & Co. KG

                      D 24106 Kiel

 

Branch:          BREE Collection GmbH & Co. KG

                      D 23552 Lübeck

 

 Branch:         BREE Collection GmbH & Co. KG

                      D 26382 Wilhelmshaven

 

Branch:           BREE Collection GmbH & Co. KG

                      D 28197 Bremen

 

Branch:          BREE Collection GmbH & Co. KG

                      D 33604 Bielefeld

 

Branch:          BREE Collection GmbH & Co. KG

                      D 60311 Frankfurt

 

Branch:           BREE Collection GmbH & Co. KG

                      D 69115 Heidelberg

 

Branch:           BREE Collection GmbH & Co. KG

                      Hauptmarkt 2

                      D 90403 Nürnberg

                      TEL.: 0911/2009613

 

 Branch:          BREE Collection GmbH & Co. KG

                      Friedrichstr. 78

                      D 10117 Berlin

                      TEL.: 030/20453693

 

Branch:          BREE Collection GmbH & Co. KG

                      Roßmarkt 23

                      D 60311 Frankfurt

                      TEL.: 069/292620

 

Branch:         BREE Collection GmbH & Co. KG

                      Heegbarg 31

                      D 22391 Hamburg

                      TEL.: 040/6064433

 

 Branch:          BREE Collection GmbH & Co. KG

                      D 30159 Hannover

 

Branch:         BREE Collection GmbH & Co. KG

                      Heinkelstr. 1

                      D 71634 Ludwigsburg

                      TEL.: 07141/968191

 

Branch:         BREE Collection GmbH & Co. KG

                      Salvatorstr. 2

                      D 80333 München

                      TEL.: 089/298745

 

Branch:         BREE Collection GmbH & Co. KG

                      Centroallee 182

                      D 46047 Oberhausen

                      TEL.: 0208/23160

 

Branch:           BREE Collection GmbH & Co. KG

                      Schadowstr. 11

                      D 40212 Düsseldorf

                      TEL.: 0211/59815657

 

Branch:           BREE Collection GmbH & Co. KG

                      Limbecker Platz 1a

                      D 45127 Essen

 

 

 PARTICIPATIONS

 Shareholder:

                      Bree GmbH

                      Gerberstr. 3

                      D 30916 Isernhagen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,564.59

                      Share:             EUR             25,564.59

                      Reg. data:  24.03.1982

                                  Local court 30175 Hannover

                                  HRB 121274

 Shareholder:

                      BREE Beteiligungsgesellschaft mbH

                      Gerberstr. 3

                      D 30916 Isernhagen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  13.06.2007

                                  Local court 30175 Hannover

                                  HRB 201805

 

 

 FINANCIAL INFORMATION

 

 Payment experience:    within agreed terms

 

 Negative information:     We have no negative information at hand.

 

 Balance sheet year:  2011

 

 

 REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Gerberstr. 3

                                    D 30916 Isernhagen

 

 Real Estate of:              Bree GmbH

 Type of ownership:        Tenant

 Address                       Gerberstr. 3

                                    D 30916 Isernhagen

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 SPARKASSE HANNOVER, HANNOVER

 Sort. code: 25050180, BIC: SPKHDE2HXXX

 

 Further banks

 DEUTSCHE BANK, HANNOVER

 Sort. code: 25070070, BIC: DEUTDE2HXXX

 POSTBANK, HANNOVER

 Sort. code: 25010030, BIC: PBNKDEFFXXX

 

 

 FINANCIAL FIGURES

 

 Gross profit or loss:2012                        EUR         16,000,000.00

 Equipment:                                           EUR          1,191,691.00

 Ac/ts receivable:                                               EUR          1,459,230.00

 Liabilities:                                              EUR          5,128,833.00

 Employees:                                                                         214

 - Part-time employees:                                                          67

 - Trainees:                                                                            11

 - Temporary workers:                                                            40

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2011  - 31.12.2011

 Equity ratio [%]:                        56.23

 Liquidity ratio:                            0.39

 Return on total capital [%]:      -0.20

 

 Balance sheet ratios 01.01.2010  - 31.12.2010

 Equity ratio [%]:                        54.76

 Liquidity ratio:                           0.49

 Return on total capital [%]:      -0.29

 Balance sheet ratios 01.01.2009  - 31.12.2009

 Equity ratio [%]:                        52.80

 Liquidity ratio:                           0.52

 Return on total capital [%]:       5.20

 

 Balance sheet ratios 01.01.2008  - 31.12.2008

 Equity ratio [%]:                        48.98

 Liquidity ratio:                           0.43

 Return on total capital [%]:      -2.18

 

 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         12,434,940.01

  Fixed assets                           EUR          5,504,613.11

   Intangible assets                     EUR            414,499.17

    Goodwill                             EUR             52,091.40

    Other / unspecified intangible assetsEUR            362,407.77

   Tangible assets                       EUR          4,513,016.52

    Land / similar rights                EUR          3,277,550.03

    Plant / machinery                    EUR             33,697.57

    Other tangible assets / fixtures and

    fittings                             EUR          1,191,691.08

    Advance payments made / construction

    in progress                          EUR             10,077.84

   Financial assets                      EUR            577,097.42

    Shares in participations /

    subsidiaries and the like            EUR            345,128.84

     Shares in related companies         EUR            345,128.84

    Other / unspecified financial assets EUR            231,968.58

  Current assets                         EUR          6,800,097.37

   Stocks                                EUR          4,367,275.39

   Accounts receivable                   EUR          1,459,230.15

    Amounts due from related companies   EUR             43,795.16

    Other debtors and assets             EUR          1,415,434.99

   Liquid means                          EUR            973,591.83

  Remaining other assets                 EUR            130,229.53

   Accruals (assets)                     EUR            130,229.53

 

 LIABILITIES                             EUR         12,434,940.01

  Shareholders' equity                   EUR          6,620,417.32

   Capital                               EUR          5,600,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR          5,600,000.00

   Reserves                              EUR          1,020,417.32

  Provisions                             EUR            605,423.80

  Liabilities                            EUR          5,128,832.97

   Financial debts                       EUR          3,505,458.32

    Liabilities due to banks             EUR          3,505,458.32

   Other liabilities                     EUR          1,623,374.65

    Unspecified other liabilities        EUR          1,623,374.65

  Other liabilities                      EUR             80,265.92

   Deferred taxes (not included under

   provisions/liabilities)               EUR             80,265.92

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)

  Gross result (+/-)                     EUR         15,450,264.28

  Staff expenses                         EUR          6,655,141.25

   Wages and salaries                    EUR          5,572,545.61

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          1,082,595.64

  Total depreciation                     EUR            673,573.58

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            673,573.58

  Other operating expenses               EUR          7,816,426.05

  Operating result from continuing

  operations                             EUR            305,123.40

  Interest result (+/-)                  EUR           -256,050.57

   Interest and similar income           EUR              6,048.36

   Interest and similar expenses         EUR            262,098.93

    thereof paid to related companies    EUR              2,982.54

  Other financial result                 EUR              2,925.01

   Income from securities and loans from

   financial assets                      EUR              3,171.77

   Depreciation on financial assets and

   marketable securities                 EUR                246.76

  Financial result (+/-)                 EUR           -253,125.56

  Result from ordinary operations (+/-)  EUR             51,997.84

  Income tax / refund of income tax (+/-)EUR            -71,639.88

  Other taxes / refund of taxes          EUR             -5,440.73

  Tax (+/-)                              EUR            -77,080.61

  Annual surplus / annual deficit        EUR            -25,082.77

 

 Type of balance sheet:               Company balance sheet

 

 Financial year:      01.01.2010 - 31.12.2010

 

 ASSETS                                  EUR         13,529,661.51

  Fixed assets                           EUR          5,849,436.42

   Intangible assets                     EUR            594,713.35

    Goodwill                             EUR             82,067.05

    Other / unspecified intangible assetsEUR            512,646.30

   Tangible assets                       EUR          4,630,849.17

    Land / similar rights                EUR          3,428,954.56

    Plant / machinery                    EUR             56,704.21

    Other tangible assets / fixtures and

    fittings                             EUR          1,140,232.60

    Advance payments made / construction

    in progress                          EUR              4,957.80

   Financial assets                      EUR            623,873.90

    Shares in participations /

    subsidiaries and the like            EUR            345,128.84

     Shares in related companies         EUR            345,128.84

    Loans to participations /

    subsidiaries and the like            EUR             23,500.00

     Loans to related companies          EUR             23,500.00

    Other / unspecified financial assets EUR            255,245.06

  Current assets                         EUR          7,602,890.14

   Stocks                                EUR          4,200,371.74

   Accounts receivable                   EUR          1,794,481.77

    Amounts due from related companies   EUR             24,589.99

    Other debtors and assets             EUR          1,769,891.78

   Liquid means                          EUR          1,608,036.63

  Remaining other assets                 EUR             77,334.95

   Accruals (assets)                     EUR             77,334.95

 

 LIABILITIES                             EUR         13,529,661.51

  Shareholders' equity                   EUR          6,645,500.09

   Capital                               EUR          5,600,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR          5,600,000.00

   Reserves                              EUR          1,045,500.09

  Provisions                             EUR            816,947.33

  Liabilities                            EUR          5,985,963.91

   Financial debts                       EUR          4,063,337.20

    Liabilities due to banks             EUR          4,063,337.20

   Other liabilities                     EUR          1,922,626.71

    Unspecified other liabilities        EUR          1,922,626.71

  Other liabilities                      EUR             81,250.18

   Deferred taxes (not included under

   provisions/liabilities)               EUR             81,250.18

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.  Code (HGB)

 

Gross result (+/-)                     EUR         15,496,871.85

  Staff expenses                         EUR          6,269,324.36

   Wages and salaries                    EUR          5,269,599.80

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            999,724.56

  Total depreciation                     EUR            623,572.44

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            623,572.44

  Other operating expenses               EUR          8,251,657.87

  Operating result from continuing

  operations                             EUR            352,317.18

  Interest result (+/-)                  EUR           -232,403.94

   Interest and similar income           EUR              1,413.58

   Interest and similar expenses         EUR            233,817.52

    thereof paid to related companies    EUR              2,431.56

  Other financial result                 EUR            -22,489.50

   Income from securities and loans from

   financial assets                      EUR              7,834.60

   Depreciation on financial assets and

   marketable securities                 EUR             30,324.10

  Financial result (+/-)                 EUR           -254,893.44

  Result from ordinary operations (+/-)  EUR             97,423.74

  Income tax / refund of income tax (+/-)EUR           -127,096.82

  Other taxes / refund of taxes          EUR             -8,344.39

  Tax (+/-)                              EUR           -135,441.21

  Annual surplus / annual deficit        EUR            -38,017.47

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.52

UK Pound

1

Rs.101.48

Euro

1

Rs.84.11

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.