.
|
Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
QVC HANDEL GMBH |
|
|
|
|
Registered Office : |
Plockstr.
30, D 40221 Düsseldorf, Post Box: 10 41 30 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.07.1998 |
|
|
|
|
Com. Reg. No.: |
HRB 36381 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Non-specialized wholesale trade [We tried to confirm / obtain the detailed activity but the same is not
available from any sources] |
|
|
|
|
No. of Employees : |
Not Available |
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 – 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 |
|
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 |
QVC Handel GmbH
Plockstr.
30
D 40221
Düsseldorf
Post
Box:
10 41 30
Telephone:0211/3007-0
Telefax: 0211/3007-100
Homepage:
www.qvc.de
E-mail: kundenservice@qvc.com
DE812584189
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1998
Shareholders'
agreement: 28.07.1998
Registered on: 02.09.1998
Commercial Register: Local court 40227 Düsseldorf
under: HRB
36381
Share capital: EUR 26,100.00
QVC Deutschland Inc.
& Co. KG
Plockstr. 30
D 40221 Düsseldorf
Post Box:
10 41 30
Legal form: Limited
partnership with public
limited company as gen.
part
Total cap. EUR 26,000.00
contribution:
Share: EUR 26,100.00
Registered on: 14.06.2006
Reg. data: 40227
Düsseldorf, HRA 18735
Dr. Ulrich Flatten
Rütger-von-Scheven-Str.
51c
D 52349 Düren
having sole power of
representation
born: 24.11.1956
Marital status: unknown
Manager:
Mathias Bork
Klopstockstr. 1
D 40237 Düsseldorf
having sole power of
representation
Profession: Businessman
Marital status: married
Manager:
Larry Hayes
USA West Chester, Pennsylvania
having sole power of
representation
born: 27.07.1960
Nationality: USA
Manager:
Steven Michael Hofmann
I Brugherio
having sole power of
representation
born: 27.08.1965
Nationality: Italian
Dr. Andreas
Büchelhofer
Pastor-Bröhl-Str. 1
D 40474 Düsseldorf
having sole power of
representation
born: 11.03.1963
Proxy:
Thomas Baaske
D 46242 Bottrop
having sole power of
representation
born: 26.04.1965
Proxy:
Reinhard Krause
D 63225 Langen
having sole power of
representation
born: 18.01.1950
Marital status: unknown
Proxy:
Wolfgang Appelhans
D 50389 Wesseling
having sole power of representation
born: 18.01.1949
Profession: Businessman
Marital status: unknown
Proxy:
Jens Steen
D 40221 Düsseldorf
having sole power of
representation
born: 29.05.1969
Proxy:
Ronald Käding
D 42799 Leichlingen
having sole power of
representation
born: 22.02.1965
Proxy:
Verena Fink
D 50769 Köln
having sole power of
representation
born: 31.12.1979
Proxy:
Thomas Lindemann
D 41849 Wassenberg
having sole power of
representation
born: 14.02.1966
Manager:
QVC Call Center
Verwaltungs-GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 17.09.1998
Reg. data: 40227 Düsseldorf, HRB 36448
Manager:
QVC
Grundstücksverwaltungs GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 10.01.2002
Reg. data: 40227 Düsseldorf, HRB 41804
Manager:
iQVC GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 15.01.2002
Reg. data: 40227 Düsseldorf, HRB 41834
Manager:
QVC Studio GmbH
Plockstr. 30
D 40221 Düsseldorf
Post Box:
10 41 30
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 07.09.1998
Reg. data: 40227 Düsseldorf, HRB 36404
QVC eDistribution Inc.
& Co. KG
Plockstr. 30
D 40221 Düsseldorf
Post Box:
10 41 30, D 40032
Düsseldorf
Legal form: Limited partnership with
public
limited
company as gen. part
Total cap. EUR 25,000.00
contribution:
Registered
on: 15.09.2000
Reg. data: 40227 Düsseldorf, HRA 14488
Proxy:
QVC eService Inc. &
Co. KG
Unterneustädter
Kirchplatz 5
D 34123 Kassel
Legal form: Limited
partnership with public
limited
company as gen. part
Total cap. EUR 25,000.00
contribution:
Registered
on: 24.07.2001
Reg. data: 34117 Kassel, HRA 10077
Shareholder:
Mathias Bork
Vermögensverwaltung GmbH
Klopstockstr. 1
D 40237 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 28,000.00
Share: EUR 28,000.00
Registered
on: 26.03.2010
Reg. data: 40227 Düsseldorf, HRB 63061
Manager:
iQVC GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 15.01.2002
Reg. data: 40227 Düsseldorf, HRB 41834
Manager:
QVC Studio GmbH
Plockstr. 30
D 40221 Düsseldorf
Post Box:
10 41 30
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 07.09.1998
Reg. data: 40227 Düsseldorf, HRB 36404
Manager:
Mathias Bork Vermögensverwaltung
GmbH
Klopstockstr. 1
D 40237 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 28,000.00
Registered
on: 26.03.2010
Reg. data: 40227 Düsseldorf, HRB 63061
Manager:
Bork Beteiligungs GmbH
Klopstockstr. 1
D 40237 Düsseldorf
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 13.04.2010
Reg. data: 40227 Düsseldorf, HRB 63202
Manager:
QVC Call Center
Verwaltungs-GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 17.09.1998
Reg. data: 40227 Düsseldorf, HRB 36448
Manager:
QVC Grundstücksverwaltungs
GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 10.01.2002
Reg. data: 40227 Düsseldorf, HRB 41804
Manager:
iQVC GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 15.01.2002
Reg. data: 40227 Düsseldorf, HRB 41834
Manager:
QVC Studio GmbH
Plockstr. 30
D 40221 Düsseldorf
Post Box:
10 41 30
Legal form: Private
limited company
Share capital: EUR
26,000.00
Registered
on: 07.09.1998
Reg. data: 40227 Düsseldorf, HRB 36404
Manager:
QVC Call Center
Verwaltungs-GmbH
Plockstr. 30
D 40221 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 17.09.1998
Reg. data: 40227 Düsseldorf, HRB 36448
Manager:
QVC Studio GmbH
Plockstr. 30
D 40221 Düsseldorf
Post Box:
10 41 30
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 07.09.1998
Reg. data: 40227 Düsseldorf, HRB 36404
28.07.1998 - 12.07.2001 QVC Handel GmbH
Kaistr. 7-9
D 40221 Düsseldorf
Private limited
company
Main industrial sector
46903
Non-specialized wholesale trade
4719
Other retail sale in non-specialized stores
Branch:
QVC Handel GmbH
Kaistr. 7-9
D 40221 Düsseldorf
Branch:
QVC Handel GmbH
Porschestr. 7
D 41836 Hückelhoven
Payment experience: takes advantage of cash discount
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Plockstr. 30
D 40221 Düsseldorf
Land
register documents were not available.
Principal bank
LANDESBANK HESSEN-THÜRINGEN GIROZENTRALE NL.
DÜSSELDORF,
DÜSSELDORF
Sort. code: 30050000, Account no.: 5006911,
BIC: WELADEDDXXX
Turnover: 2012 EUR 743,899,827.00
Profit: 2012 EUR 53,187,449.00
Equipment: EUR 203,872.00
Ac/ts receivable: EUR 123,576,752.00
Liabilities: EUR 100,780,497.00
Employees:
233
-
thereof permanent staff: 194
-
Part-time employees: 39
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: -1.44
Liquidity ratio: 0.92
Return on total capital [%]: 30.82
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: -1.40
Liquidity ratio: 0.97
Return on total capital [%]: 33.39
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: -1.46
Liquidity ratio: 1.04
Return on total capital [%]: 29.83
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: -1.67
Liquidity ratio: 0.91
Return on total capital [%]: 28.03
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 204,467,892.15
Fixed assets
EUR 286,026.42
Intangible assets
EUR 14,291.03
Concessions, licences, rights
EUR 14,291.03
Tangible assets
EUR 271,735.39
Other tangible assets / fixtures and
fittings
EUR 203,872.39
Advance payments made / construction
in progress
EUR 67,863.00
Current assets
EUR 203,846,350.51
Stocks
EUR 79,291,546.22
Finished goods / work in progress
EUR 79,291,546.22
Accounts receivable
EUR 123,576,751.79
Trade debtors
EUR 88,977,170.22
Amounts due from related companies
EUR 31,995,234.10
Other debtors and assets
EUR 2,604,347.47
Liquid means EUR 978,052.50
Remaining other assets
EUR 335,515.22
Accruals (assets)
EUR 335,515.22
LIABILITIES EUR 204,467,892.15
Shareholders' equity
EUR 29,424,975.80
Capital
EUR 26,100.00
Subscribed capital (share capital)
EUR 26,100.00
Reserves
EUR 29,398,875.80
Capital reserves
EUR 29,398,875.80
Provisions
EUR 74,262,419.82
Other / unspecified provisions
EUR 74,262,419.82
Liabilities
EUR 100,780,496.53
Other liabilities
EUR 100,780,496.53
Trade creditors (for IAS incl. bills
of exchange)
EUR 23,361,198.77
Liabililties due to related companiesEUR 75,204,657.12
Unspecified other liabilities
EUR 2,214,640.64
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 743,899,826.50
Other operating income
EUR 2,378,379.71
Cost of materials
EUR 384,697,180.80
Raw materials and supplies, purchased
goods
EUR 384,697,180.80
Gross result (+/-)
EUR 361,581,025.41
Staff expenses
EUR 11,305,027.41
Wages and salaries
EUR 9,659,666.17
Social security contributions and
expenses for pension plans and
benefits
EUR 1,645,361.24
Total depreciation
EUR 91,783.08
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 91,783.08
Other operating expenses
EUR 294,058,695.34
Operating result from continuing
operations
EUR 56,125,519.58
Interest result (+/-)
EUR -2,938,070.34
Interest and similar income
EUR 70,779.86
Interest and similar expenses
EUR 3,008,850.20
Financial result (+/-)
EUR -2,938,070.34
Result from ordinary operations (+/-)
EUR 53,187,449.24
Expenses for transfer of profits to a
parent company
EUR 53,187,449.24
Annual surplus / annual deficit
EUR 0.00
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 209,514,964.84
Fixed assets
EUR 162,976.76
Intangible assets
EUR 10,432.32
Concessions, licences, rights
EUR 10,432.32
Tangible assets
EUR 152,544.44
Other tangible assets / fixtures and
fittings
EUR 152,544.44
Current assets
EUR 208,935,411.03
Stocks EUR 74,963,323.16
Finished goods / work in progress
EUR 74,963,323.16
Accounts receivable
EUR 122,179,208.01
Trade debtors
EUR 87,851,295.71
Amounts due from related companies
EUR 32,068,619.18
Other debtors and assets
EUR 2,259,293.12
Liquid means
EUR 11,792,879.86
Remaining other assets
EUR 416,577.05
Accruals (assets)
EUR 416,577.05
LIABILITIES EUR 209,514,964.84
Shareholders' equity
EUR 29,424,975.80
Capital EUR 26,100.00
Subscribed capital (share capital)
EUR 26,100.00
Reserves
EUR 29,398,875.80
Capital reserves
EUR 29,398,875.80
Provisions EUR 75,186,645.19
Other / unspecified provisions
EUR 75,186,645.19
Liabilities
EUR 104,903,343.85
Other liabilities
EUR 104,903,343.85
Trade creditors (for IAS incl. bills
of exchange)
EUR 20,454,226.77
Liabililties due to related companiesEUR 82,601,008.17
Unspecified other liabilities
EUR 1,848,108.91
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales
EUR 774,729,225.08
Other operating income
EUR 2,135,213.60
Cost of materials
EUR 396,862,095.11
Raw materials and supplies, purchased
goods
EUR 396,862,095.11
Gross result (+/-)
EUR 380,002,343.57
Staff expenses
EUR 12,345,980.66
Wages and salaries
EUR 10,532,227.11
Social security contributions and
expenses for pension plans and
benefits
EUR 1,813,753.55
Total depreciation
EUR 59,922.52
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 59,922.52
Other operating expenses
EUR 306,201,023.66
Operating result from continuing
operations
EUR 61,395,416.73
Interest result (+/-)
EUR -2,099,299.03
Interest and similar income
EUR 153,292.55
Interest and similar expenses
EUR 2,252,591.58
Financial result (+/-)
EUR -2,099,299.03
Result from ordinary operations (+/-)
EUR 59,296,117.70
Expenses for transfer of profits to a
parent company
EUR 59,296,117.70
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.98 |
|
|
1 |
Rs.104.61 |
|
Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.