MIRA INFORM REPORT

 

 

Report Date :

03.07.2014

 

IDENTIFICATION DETAILS

 

Name :

TEPPICH-KIBEK GMBH

 

 

Registered Office :

Ramskamp 100, D 25337 Elmshorn, Post Box 6 20

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

01.01.1896

 

 

Com. Reg. No.:

HRB 53 EL

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Wholesale of furniture, carpets and rugs and lighting

 

 

No. of Employees :

487

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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, has contributed to strong growth 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 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. 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 and 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. 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 and address

 

TEPPICH-KIBEK GMBH

 

 Company Status:         active

                                    Ramskamp 100

                                    D 25337 Elmshorn

                                    Post Box:

                                    6 20

                                      Telephone:04121/237-0

                                     Telefax:  04121/237458

                                         Homepage: www.kibek.de

                                       E-mail:   info@kibek.de

 

 VAT no.:                                     DE134789913

 

 

 CONCLUSION

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM               Private limited company

 Date of foundation:      01.01.1896

 Begin of business

 activities:                                  09.05.1947

 Shareholders'

 agreement:                     09.05.1947

 Registered on:             20.08.1947

 Commercial Register:   Local court 25421 Pinneberg

 under:                          HRB 53 EL

 

 Share capital:                          EUR          5,000,000.00

 

 Shareholder:

                      Frank Sachau

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      born: 03.10.1952

                      Share:             EUR          4,750,000.00

 Shareholder:

                      Elfriede Sachau

                      D 25337 Elmshorn

                      Share:             EUR            250,000.00

 Manager:

                      Frank Sachau

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      having sole power of representation

                      born: 03.10.1952

                      Profession: Businessman

 

 Further functions/participations of Frank Sachau (Manager)

 Limited partner:

                      SB-Teppichbodenmarkt Groß- und Einzelhandel

                      GmbH & Co. KG

                      Berliner Str. 16

                      D 25336 Elmshorn

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR             51,129.19

                      contribution:

                      Share:             EUR             40,903.35

                      Registered

                      on:         11.12.1974

                      Reg. data:  25421 Pinneberg, HRA 249 EL

 Shareholder:

                      SHI Ramskamp GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            220,000.00

                      Share:             EUR            220,000.00

                      Registered

                      on:         06.10.2010

                      Reg. data:  20355 Hamburg, HRB 115415

 Shareholder:

                      Carpet Concept Werbeagentur GmbH

                      Ramskamp 100

                      D 25337 Elmshorn

                      Legal form: Private limited company

                      Share capital:     EUR             52,000.00

                      Share:             EUR             52,000.00

                      Registered

                      on:         05.03.1997

                      Reg. data:  25421 Pinneberg, HRB 1615 EL

 Shareholder:

                      Sachau GrundstücksgesellschaftmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Share:             EUR             25,564.59

                      Registered

                      on:         11.10.1994

                      Reg. data:  20355 Hamburg, HRB 56776

 Shareholder:

                      SHI Stormarn GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             26,000.00

                      Share:             EUR             26,000.00

                      Registered

                      on:         12.12.2012

                      Reg. data:  20355 Hamburg, HRB 125593

 Shareholder:

                      Grundstücksgesellschaft "Am Juliusturm

                      41-49" mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Share:             EUR             25,564.59

                      Registered

                      on:         31.01.1996

                      Reg. data:  20355 Hamburg, HRB 60561

 Shareholder:

                      F. S. Grundstücksgesellschaft mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Share:             EUR             25,564.59

                      Registered

                      on:         27.03.1998

                      Reg. data:  20355 Hamburg, HRB 67002

 Shareholder:

                      FSM Franzosenhof GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         18.11.2002

                      Reg. data:  20355 Hamburg, HRB 85518

 Shareholder:

                      SHI Stuttgart Grundstücksgesellschaft mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         02.03.2007

                      Reg. data:  20355 Hamburg, HRB 100308

 Shareholder:

                      K.T.S. GmbH

                      Tonndorfer Hauptstr. 49

                      D 22045 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         26.11.2002

                      Reg. data:  20355 Hamburg, HRB 85633

 Shareholder:

                      F.S. Grundstücksgesellschaft Sehnde mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         17.11.1999

                      Reg. data:  20355 Hamburg, HRB 73375

 Shareholder:

                      F.S.M. Grundstücksgesellschaft Fürth mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         03.05.2000

                      Reg. data:  20355 Hamburg, HRB 75371

 Shareholder:

                      Kibek Weinheim GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         18.11.2002

                      Reg. data:  20355 Hamburg, HRB 85516

 Shareholder:

                      F.S.M. Grundstücksgesellschaft Brinkum mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         21.09.2004

                      Reg. data:  20355 Hamburg, HRB 91615

 Shareholder:

                      F.S.M. Grundstücksgesellschaft

                      Recklinghausen mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         21.09.2004

                      Reg. data:  20355 Hamburg, HRB 91613

 Shareholder:

                      Kibek Spandau GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         17.09.2007

                      Reg. data:  20355 Hamburg, HRB 102428

 Shareholder:

                      Kibek Taufkirchen GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered

                      on:         26.03.2013

                      Reg. data:  20355 Hamburg, HRB 126862

 Manager:

                      SHI Stormarn GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             26,000.00

                      Registered

                      on:         12.12.2012

                      Reg. data:  20355 Hamburg, HRB 125593

 Manager:

                      F.S.M. Grundstücksgesellschaft

                      Recklinghausen mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         21.09.2004

                      Reg. data:  20355 Hamburg, HRB 91613

 Manager:

                      SHI Stuttgart Grundstücksgesellschaft mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         02.03.2007

                      Reg. data:  20355 Hamburg, HRB 100308

 Manager:

                      Grundstücksgesellschaft "Am Juliusturm

                      41-49" mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Registered

                      on:         31.01.1996

                      Reg. data:  20355 Hamburg, HRB 60561

 Manager:

                      SHI Ramskamp GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            220,000.00

                      Registered

                      on:         06.10.2010

                      Reg. data:  20355 Hamburg, HRB 115415

 Manager:

                      Carpet Concept Werbeagentur GmbH

                      Ramskamp 100

                      D 25337 Elmshorn

                      Legal form: Private limited company

                      Share capital:     EUR             52,000.00

                      Registered

                      on:         05.03.1997

                      Reg. data:  25421 Pinneberg, HRB 1615 EL

 Manager:

                      F.S. Grundstücksgesellschaft Sehnde mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         17.11.1999

                      Reg. data:  20355 Hamburg, HRB 73375

 Manager:

                      F. S. Grundstücksgesellschaft mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Registered

                      on:         27.03.1998

                      Reg. data:  20355 Hamburg, HRB 67002

 Manager:

                      F.S.M. Grundstücksgesellschaft Fürth mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         03.05.2000

                      Reg. data:  20355 Hamburg, HRB 75371

 Manager:

                      Kibek Weinheim GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         18.11.2002

                      Reg. data:  20355 Hamburg, HRB 85516

 Manager:

                      FSM Franzosenhof GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         18.11.2002

                      Reg. data:  20355 Hamburg, HRB 85518

 Manager:

                      K.T.S. GmbH

                      Tonndorfer Hauptstr. 49

                      D 22045 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         26.11.2002

                      Reg. data:  20355 Hamburg, HRB 85633

 Manager:

                      F.S.M. Grundstücksgesellschaft Brinkum mbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         21.09.2004

                      Reg. data:  20355 Hamburg, HRB 91615

 Manager:

                      Kibek Spandau GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         17.09.2007

                      Reg. data:  20355 Hamburg, HRB 102428

 Manager:

                      Sachau GrundstücksgesellschaftmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,564.59

                      Registered

                      on:         11.10.1994

                      Reg. data:  20355 Hamburg, HRB 56776

 Manager:

                      Kibek Taufkirchen GmbH

                      Anna-Hollmann-Weg 3

                      D 22587 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         26.03.2013

                      Reg. data:  20355 Hamburg, HRB 126862

 

 

 COMPANY HISTORY

 

 01.01.1896 - 31.03.2006  Teppich Kibek G.m.b.H.

                          Reichenstr. 3-15

                          D 25336 Elmshorn

                          Private limited company

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 46470   Wholesale of furniture, carpets and rugs and lighting

 

 Secondary industrial sector

 47530   Retail sale of carpets, rugs, wall and floor coverings

47591   Retail sale of home furniture

47599   Retail sale of household articles n.e.c.

BRANCHES AND FACTORIES

 

 Branch:

                      Teppich-Kibek GmbH

                      Arster Hemm 50

                      D 28279 Bremen

                      TEL.: 0421/825075

 Branch:

                      Teppich-Kibek GmbH

                      Großheppacher Str. 66

                      D 71384 Weinstadt

                      TEL.: 07151/969370

                      FAX.: 07151/610258

 Branch:

                      Teppich-Kibek GmbH

                      Schleswiger Str. 130

                      D 24941 Flensburg

                      TEL.: 0461/28311

 Branch:

                      Teppich-Kibek GmbH

                      Bruchsaler Str. 7

                      D 69469 Weinheim

                      TEL.: 06201/13057

 Branch:

                      Teppich-Kibek GmbH

                      Lilienthalstr. 1/3

                      D 04509 Wiedemar

                      TEL.: 034207-41130

                      FAX.: 034207-41119

 Branch:

                      Teppich-Kibek GmbH

                      Oderstr. 8

                      D 63452 Hanau

                      TEL.: 06181/9184-0

 Branch:

                      Teppich-Kibek GmbH

                      Am Juliusturm 41-49

                      D 13599 Berlin

                      TEL.: 030/354934-0

 Branch:

                      Teppich-Kibek GmbH

                      Am Rondell 7

                      D 12529 Schönefeld

                      TEL.: 033762-60187

 Branch:

                      Teppich-Kibek GmbH

                      Oderstr. 10

                      D 67071 Ludwigshafen

                      TEL.: 0621/670150

 Branch:

                      Teppich-Kibek GmbH

                      Wettersteinstr. 20

                      D 82024 Taufkirchen

                      TEL.: 089/6140081

 Branch:

                      Teppich-Kibek GmbH

                      Bahnhofstr. 59

                      D 48308 Senden

                      TEL.: 02536/33080

 Branch:

                      Teppich-Kibek GmbH

                      D 30823 Garbsen

 Branch:

                      Teppich-Kibek GmbH

                      Schmalkalder Str. 12

                      D 45665 Recklinghausen

                      TEL.: 02361/904320

 Branch:

                      Teppich-Kibek GmbH

                      Knorrstr. 28a

                      D 34134 Kassel

                      TEL.: 0561/471150

 Branch:

                      Teppich-Kibek GmbH

                      In der Schmalau 50

                      D 90765 Fürth

                      TEL.: 0911/3072290

 

 

 FINANCIAL INFORMATION

 

 Payment experience:    within agreed terms

 

 Negative information:   We have no negative information at hand.

 

 Balance sheet year:      2012

 

 

 REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Ramskamp 100

                         D 25337 Elmshorn

 

 Land register documents were not available.

 

 BANKERS

 

 Principal bank

 UNICREDIT BANK - HYPOVEREINSBANK, 25335 ELMSHORN

 Sort. code: 20030000

 BIC: HYVEDEMM300

 

 Further banks

 COMMERZBANK, 25302 ELMSHORN

 Sort. code: 22140028

 BIC: COBADEFFXXX

 SPARKASSE ELMSHORN, 25335 ELMSHORN

 Sort. code: 22150000, Account no.: 42447

 BIC: NOLADE21ELH, IBAN: DE26221500000000042447

 POSTBANK (GIRO), 22280 HAMBURG

 Sort. code: 20010020, Account no.: 5736208

 BIC: PBNKDEFFXXX, IBAN: DE22200100200005736208

 

 

 FINANCIAL FIGURES

 

 Turnover:                     2012               EUR        114,562,194.00

                                    2013               EUR        114,000,000.00

 Profit:                             2012               EUR          1,479,175.00

 further business figures:

 Equipment:                                           EUR         10,396,698.00

 Ac/ts receivable:                                     EUR          5,035,842.00

 Liabilities:                                            EUR         30,938,107.00

 Employees:                                                                     487

 - thereof permanent staff:                                                          477

 - Trainees:                                                                                      10

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                           43.67

 Liquidity ratio:                            0.26

 Return on total capital [%]:          2.38

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                           41.51

 Liquidity ratio:                            0.28

 Return on total capital [%]:          1.82

 

 

Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                         40.83

 Liquidity ratio:                           0.26

 Return on total capital [%]:          2.45

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                       38.92

 Liquidity ratio:                             0.41

 Return on total capital [%]:         3.29

 

 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         62,229,861.30

  Fixed assets                           EUR         20,407,438.32

   Intangible assets                     EUR            310,568.00

    Concessions, licences, rights        EUR            310,568.00

   Tangible assets                       EUR         20,096,870.32

    Land / similar rights                EUR          9,699,572.32

    Other tangible assets / fixtures and

    fittings                             EUR         10,396,698.00

    Advance payments made / construction

    in progress                          EUR                600.00

  Current assets                         EUR         41,675,412.18

   Stocks                                EUR         25,731,149.79

    Raw materials, consumables and

    supplies                             EUR             38,200.00

    Finished goods / work in progress    EUR         25,415,106.76

    Advance payments made                EUR            277,843.03

   Accounts receivable                   EUR          5,035,842.10

    Trade debtors                        EUR          1,771,295.79

    Other debtors and assets             EUR          3,264,546.31

   Liquid means                          EUR         10,908,420.29

  Remaining other assets                 EUR            147,010.80

   Accruals (assets)                     EUR            147,010.80

 

 LIABILITIES                             EUR         62,229,861.30

  Shareholders' equity                   EUR         26,655,474.77

   Capital                               EUR          5,000,000.00

    Subscribed capital (share capital)   EUR          5,000,000.00

   Reserves                              EUR          1,688,975.85

    Retained earnings / revenue reserves EUR          1,688,975.85

   Balance sheet profit/loss (+/-)       EUR         19,966,498.92

    Profit / loss brought forward        EUR         18,487,324.08

    Annual surplus / annual deficit      EUR          1,479,174.84

  Provisions                             EUR          4,636,279.76

   Pension provisions and comparable

   provisions                            EUR          1,272,771.00

   Provisions for taxes                  EUR             13,960.00

   Other / unspecified provisions        EUR          3,349,548.76

  Liabilities                            EUR         30,938,106.77

   Financial debts                       EUR         14,122,531.94

    Liabilities due to banks             EUR         14,122,531.94

   Other liabilities                     EUR         16,815,574.83

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          8,731,422.00

    Notes payable                        EUR             24,997.57

    Liabilities from received advance

    payments                             EUR            768,000.54

    Liabilities due to shareholders      EUR            521,004.09

    Unspecified other liabilities        EUR          6,770,150.63

 

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

 

  Sales                                  EUR        114,562,193.57

  Inventory change + own costs (+/-)     EUR           -984,615.81

   Inventory change (+/-)                EUR           -984,615.81

  Other operating income                 EUR          1,938,125.95

  Cost of materials                      EUR         58,165,393.76

   Raw materials and supplies, purchased

   goods                                 EUR         58,165,393.76

  Gross result (+/-)                     EUR         57,350,309.95

  Staff expenses                         EUR         19,796,564.66

   Wages and salaries                    EUR         16,712,287.09

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          3,084,277.57

  Total depreciation                     EUR          2,535,899.77

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          2,535,899.77

  Other operating expenses               EUR         32,005,244.81

  Operating result from continuing

  operations                             EUR          3,012,600.71

  Interest result (+/-)                  EUR           -704,495.15

   Interest and similar income           EUR            259,889.79

   Interest and similar expenses         EUR            964,384.94

  Financial result (+/-)                 EUR           -704,495.15

  Result from ordinary operations (+/-)  EUR          2,308,105.56

  Income tax / refund of income tax (+/-)EUR           -769,878.49

  Other taxes / refund of taxes          EUR            -59,052.23

  Tax (+/-)                              EUR           -828,930.72

  Annual surplus / annual deficit        EUR          1,479,174.84

 

 Type of balance  sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         60,864,103.80

  Fixed assets                           EUR         22,045,065.60

   Intangible assets                     EUR             50,678.00

    Concessions, licences, rights        EUR             50,678.00

   Tangible assets                       EUR         21,994,387.60

    Land / similar rights                EUR         10,475,097.32

    Other tangible assets / fixtures and

    fittings                             EUR         11,453,604.00

    Advance payments made / construction

    in progress                          EUR             65,686.28

  Current assets                         EUR         38,639,688.40

   Stocks                                EUR         27,425,617.17

    Raw materials, consumables and

    supplies                             EUR             34,500.00

    Finished goods / work in progress    EUR         27,029,665.60

    Advance payments made                EUR            361,451.57

   Accounts receivable                   EUR          7,613,810.61

    Trade debtors                        EUR          2,100,577.71

    Other debtors and assets             EUR          5,513,232.90

   Liquid means                          EUR          3,600,260.62

  Remaining other assets                 EUR            179,349.80

   Accruals (assets)                     EUR            179,349.80

 

 LIABILITIES                             EUR         60,864,103.80

  Shareholders' equity                   EUR         25,176,299.93

   Capital                               EUR          5,000,000.00

    Subscribed capital (share capital)   EUR          5,000,000.00

   Reserves                              EUR          1,688,975.85

    Retained earnings / revenue reserves EUR          1,688,975.85

   Balance sheet profit/loss (+/-)       EUR         18,487,324.08

    Profit / loss brought forward        EUR         17,381,057.42

    Annual surplus / annual deficit      EUR          1,106,266.66

  Provisions                             EUR          4,302,649.73

   Pension provisions and comparable

   provisions                            EUR          1,189,673.00

   Provisions for taxes                  EUR             57,339.00

   Other / unspecified provisions        EUR          3,055,637.73

  Liabilities                            EUR         31,285,154.14

   Financial debts                       EUR         15,926,361.95

    Liabilities due to banks             EUR         15,926,361.95

   Other liabilities                     EUR         15,358,792.19

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          8,872,953.30

    Notes payable                        EUR             48,164.92

    Liabilities from received advance

    payments                             EUR          1,330,469.23

    Liabilities due to shareholders      EUR             86,047.11

    Unspecified other liabilities        EUR          5,021,157.63

  Other liabilities                      EUR            100,000.00

   Deferrals (liabilities)               EUR            100,000.00

 

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

 

  Sales                                  EUR        120,059,769.50

  Inventory change + own costs (+/-)     EUR            899,265.82

   Inventory change (+/-)                EUR            899,265.82

  Other operating income                 EUR          2,279,026.38

  Cost of materials                      EUR         63,897,033.95

   Raw materials and supplies, purchased

   goods                                 EUR         63,897,033.95

  Gross result (+/-)                     EUR         59,341,027.75

  Staff expenses                         EUR         19,662,391.42

   Wages and salaries                    EUR         16,606,051.08

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          3,056,340.34

  Total depreciation                     EUR          2,363,238.54

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          2,363,238.54

  Other operating expenses               EUR         34,921,887.69

  Operating result from continuing

  operations                             EUR          2,393,510.10

  Interest result (+/-)                  EUR           -802,780.34

   Interest and similar income           EUR            336,551.92

   Interest and similar expenses         EUR          1,139,332.26

  Financial result (+/-)                 EUR           -802,780.34

  Result from ordinary operations (+/-)  EUR          1,590,729.76

  Income tax / refund of income tax (+/-)EUR           -620,688.70

  Other taxes / refund of taxes          EUR            136,225.60

  Tax (+/-)                              EUR           -484,463.10

  Annual surplus / annual deficit        EUR          1,106,266.66

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.97

UK Pound

1

Rs.102.90

Euro

1

Rs.82.02

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

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.