|
Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
HANSGROHE SE |
|
|
|
|
Registered Office : |
Auestr. 5-9, D 77761 Schiltach, Post Box: 11 45 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.01.1901 |
|
|
|
|
Com. Reg. No.: |
HRB 740779 |
|
|
|
|
Legal Form : |
European Company (SE) |
|
|
|
|
Line of Business : |
·
Manufacture of
metal products ·
Manufacture
of taps and valves ·
Wholesale of
non-ferrous ores, metals and metal semi-finished goods ·
Other
engineering activities |
|
|
|
|
No. of Employees : |
3,129 |
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 : |
Good |
|
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 |
HANSGROHE SE
Company Status: active
Auestr. 5-9
D 77761
Schiltach
Post Box:
11 45
Telephone:07836/51-0
Telefax:
07836/51-1300
Homepage:
www.hansgrohe.com
E-mail:
info@hansgrohe.com
VAT no.: DE812782725
Business relations are permissible.
LEGAL FORM European
Company (SE)
Date of foundation: 01.01.1901
Registered on: 27.03.2012
Commercial Register: Local court 70190 Stuttgart
under: HRB 740779
Share
capital: EUR 61,156,320.00
President of
the Board of Directors:
Siegfried Gänßlen
Panoramastr. 9
D 72275 Alpirsbach
having sole power of
representation
born: 30.01.1946
Profession: Management
expert
Vice-president of the Board of Directors:
Richard Grohe
Zollmatt 3
D 77761 Schiltach
authorized to jointly
represent the company
born: 14.09.1965
Nationality: French
Member of the
Board of Directors:
Frank Semling
Alter Sportplatz 15
D 77797 Ohlsbach
authorized to jointly
represent the company
born: 05.11.1966
Member of
the Board of Directors:
Marc Griggel
D 78048
Villingen-Schwenningen
authorized to jointly
represent the company
born: 13.04.1968
President of
the Supervisory Board:
Klaus Grohe
Auestr. 25
D 77761 Schiltach
born: 03.04.1937
Marital status: married
Vice-president of the Supervisory Board:
Lau Frandsen
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Member of
the Supervisory Board:
Keith Allman
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Member of
the Supervisory Board:
Gerald Volas
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Representative of the Employees within the
Supervisory Board:
Barbara Scholl
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Representative
of the Employees within the Supervisory Board:
Stefan Krischack
Auestr. 5-9
D 77761 Schiltach
Marital status: unknown
Proxy:
Horst Josef Flieger
Bickenmäuerle 33/2
D 77761 Schiltach
authorized to jointly
represent the company
born: 17.01.1954
Profession: Businessman
Marital status: married
Proxy:
Joachim Huber
Scheffelweg 13
D 78713 Schramberg
authorized to jointly
represent the company
born: 28.06.1958
Proxy:
Dr.-Ing. Nicholas Matten
D 77652 Offenburg
authorized to jointly
represent the company
born: 27.09.1961
Proxy:
Thomas Peter Eitel Musial
D 61267 Neu-Anspach
authorized to jointly
represent the company
born: 09.12.1963
Marital status: unknown
Proxy:
Norbert Rembeck
D 89150 Laichingen
authorized to jointly
represent the company
born: 27.05.1962
Proxy:
Thomas Egenter
Am Bühlhof 50
D 77756 Hausach
authorized to jointly
represent the company
born: 23.09.1967
Proxy:
James-Phillipe Grohe
D 77709 Wolfach
authorized to jointly
represent the company
born: 03.01.1967
Proxy:
Udo Kraus
D 77773 Schenkenzell
authorized to jointly
represent the company
born: 31.03.1967
Proxy:
Christophe Germain Paul
Gourlan
D 77652 Offenburg
authorized to jointly
represent the company
born: 01.07.1972
Further
functions/participations of Siegfried Gänßlen (President
of the Board
of Directors)
Manager:
Hansgrohe International
GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Share capital: EUR
520,000.00
Registered
on: 13.01.1998
Reg. data: 70190 Stuttgart, HRB 480945
Manager:
Hansgrohe Deutschland
Vertriebs GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 06.11.2002
Reg. data: 70190 Stuttgart, HRB 481204
Further
functions/participations of Richard Grohe (Vice-president
of the Board
of Directors)
Shareholder:
Syngroh
Beteiligungsgesellschaft mbH
Auestr. 25
D 77761 Schiltach
Legal form: Private
limited company
Share capital: EUR 50,000.00
Share: EUR 12,500.00
Registered
on: 26.07.2013
Reg. data: 70190 Stuttgart, HRB 745743
14.06.1905 - 09.09.1999 Hans Grohe GmbH & Co. KG
Auestr. 5-9
D 77761 Schiltach
Ltd partnership with
priv. ltd. company
as general partner
10.09.1999 - 27.03.2012 Hansgrohe AG (HRB 481038 AG Stuttgart)
Auestr. 5-9
D 77761 Schiltach
Public limited
company
15.02.2007 - 03.04.2012 Member of the Board of Directors
Richard Grohe
D 77761 Schiltach
22.12.2005 - 03.04.2012 Vice-president of the Supervisory Board
Thomas Voss
GB London
20.12.2005 - 03.04.2012 Member of the Supervisory Board
Alfred Chini
D 72250 Freudenstadt
20.12.2005 - 03.04.2012 Member of the Supervisory Board
Graham Balls
L Munsbach
22.11.1999 - 03.04.2012 Member of the Supervisory Board
Manfred Hübner
D 77761 Schiltach
Sectors
25993
Manufacture of metal products n.e.c.
28140
Manufacture of taps and valves n.e.c.
46722
Wholesale of non-ferrous ores, metals and metal semi-finished goods
71129
Other engineering activities
Branch:
Hansgrohe SE
Schramberger Str. 57
D 77761 Schiltach
Branch:
Hansgrohe SE
Paradiesstr. 206b
D 12526 Berlin
TEL.: 030/6799090
Branch:
Hansgrohe SE
Robert-Koch-Str. 2
D 72275 Alpirsbach
Branch:
Hansgrohe SE
Carl-Zeiss-Str. 3
D 77656 Offenburg
Shareholder:
Hansgrohe International
GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 520,000.00
Share: EUR 520,000.00
Reg. data: 13.01.1998
Local court
70190 Stuttgart
HRB 480945
Shareholder:
Hansgrohe Deutschland
Vertriebs GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 100,000.00
Share: EUR 100,000.00
Reg. data: 06.11.2002
Local court
70190 Stuttgart
HRB 481204
Payment experience: cash
discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Auestr. 5-9
D 77761 Schiltach
Real Estate of: Lau Frandsen
Type of ownership: Tenant
Address Auestr. 5-9
D 77761 Schiltach
Real Estate of: Keith Allman
Type of ownership: Tenant
Address Auestr. 5-9
D 77761 Schiltach
Real Estate of: Gerald Volas
Type of ownership: Tenant
Address Auestr. 5-9
D 77761 Schiltach
Real Estate of: Barbara Scholl
Type of ownership: Tenant
Address Auestr. 5-9
D 77761 Schiltach
Real Estate of: Stefan Krischack
Type of ownership: Tenant
Address Auestr. 5-9
D 77761 Schiltach
Land register documents were not available.
Principal
bank
VOLKSBANK KINZIGTAL, 77757 SCHILTACH
Sort.
code: 66492700
BIC: GENODE61KZT
Further
banks
COMMERZBANK, 78628 ROTTWEIL
Sort. code: 64240071
BIC: COBADEFF642
DEUTSCHE BANK, 77603 OFFENBURG
Sort. code: 66470035
BIC: DEUTDE6F664
COMMERZBANK VORMALS DRESDNER BANK, 79003
FREIBURG IM BREISGAU
Sort. code: 68080030
BIC: DRESDEFF680
VOLKSBANK KINZIGTAL, 77706 WOLFACH
Sort. code: 66492700
BIC: GENODE61KZT
SPARKASSE WOLFACH, 77705 WOLFACH
Sort. code: 66452776
BIC: SOLADES1WOF
BADEN-WÜRTTEMB.BANK/LANDESBANK
BADEN-WÜRTTEMB., 78054
VILLINGEN-SCHWENNINGEN
Sort. code: 64450288
BIC: SOLADEST480
BADEN-WÜRTTEMB.BANK/LANDESBANK
BADEN-WÜRTTEMB., 78614 ROTTWEIL
Sort. code: 60050101
BIC: SOLADEST600
Turnover: 2012 EUR 649,723,136.00
2013 EUR 666,963,331.00
Profit: 2012 EUR 81,670,725.00
2013 EUR 80,947,149.00
further business figures:
Ac/ts receivable: EUR 99,395,513.00
Liabilities: EUR 110,778,115.00
Employees: 3,129
- thereof permanent staff: 3,008
- Trainees:
121
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 64.30
Liquidity ratio: 10.00
Return on total capital [%]:
14.53
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 64.54
Liquidity ratio: 10.00
Return on total capital [%]: 14.71
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 66.84
Liquidity ratio: 10.00
Return on total capital [%]: 15.02
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 66.39
Liquidity ratio: 10.00
Return on total capital [%]: 17.30
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: 01.01.2013 - 31.12.2013
ASSETS EUR 563,430,470.87
Fixed assets
EUR 107,824,014.37
Intangible assets
EUR 3,828,968.26
Tangible assets
EUR 95,960,086.98
Financial assets
EUR 8,034,959.13
Other / unspecified financial assets EUR 8,034,959.13
Current assets
EUR 453,994,474.14
Stocks
EUR 61,248,415.96
Finished goods / work in progress
EUR 61,248,415.96
Accounts receivable
EUR 99,395,513.16
Other debtors and assets
EUR 99,395,513.16
Liquid means
EUR 293,350,545.02
Remaining other assets
EUR 1,611,982.36
Accruals (assets)
EUR 1,432,210.13
Active difference from asset
offsetting
EUR 179,772.23
LIABILITIES EUR 563,430,470.87
Shareholders' equity
EUR 362,968,293.34
Capital
EUR 61,156,320.00
Subscribed capital (share capital)
EUR 61,156,320.00
Reserves
EUR 220,864,824.01
Capital reserves
EUR 11,734,542.73
Retained earnings / revenue reserves EUR 209,130,281.28
Balance sheet profit/loss (+/-)
EUR 80,947,149.33
Balance sheet profit / loss
EUR 80,947,149.33
Items between shareholders' equity and
debt capital
EUR 13.83
Allowances / bonuses
EUR 13.83
Provisions
EUR 89,684,048.30
Pension provisions and comparable
provisions
EUR 49,899,972.00
Provisions for taxes
EUR 8,868,869.30
Other / unspecified provisions
EUR 30,915,207.00
Liabilities
EUR 110,778,115.40
Financial debts
EUR 1,203,028.97
Liabilities due to banks
EUR 1,203,028.97
Other liabilities
EUR 109,575,086.43
Trade creditors (for IAS incl. bills
of exchange)
EUR 45,324,916.88
Liabililties due to related companiesEUR 52,983,366.63
Unspecified other liabilities
EUR 11,266,802.92
thereof liabilities from tax /
financial authorities
EUR 7,763,962.91
thereof liabilities from social
security
EUR 2,348.96
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales
EUR 666,963,331.47
Inventory change + own costs (+/-)
EUR 2,448,552.01
Inventory change (+/-)
EUR -624,502.03
Capitalised own costs
EUR 3,073,054.04
Other operating income
EUR 18,617,934.86
Cost of materials EUR 370,279,426.45
Raw materials and supplies, purchased
goods
EUR 337,630,360.99
Purchased services
EUR 32,649,065.46
Gross result (+/-)
EUR 317,750,391.89
Staff expenses
EUR 117,644,526.48
Wages and salaries
EUR 97,497,925.44
Social security contributions and
expenses for pension plans and
benefits EUR 20,146,601.04
Total depreciation
EUR 24,477,852.43
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 24,477,852.43
Other operating expenses
EUR 95,482,417.95
Operating result from continuing
operations
EUR 80,145,595.03
Result from participating interests
(+/-)
EUR 24,932,569.68
Expenses / income from participations EUR 24,932,569.68
Income from transfer of profits
EUR 24,931,641.96
Income from related companies
EUR 927.72
Interest result (+/-) EUR -306,758.87
Interest and similar income
EUR 3,020,775.79
thereof from related companies
EUR 1,111,073.59
Interest and similar expenses
EUR 3,327,534.66
thereof paid to related companies
EUR 412,506.84
Other financial result
EUR 58,652.37
Income from securities and loans from
financial assets
EUR 58,652.37
Financial result (+/-)
EUR 24,684,463.18
Result from ordinary operations (+/-)
EUR 104,830,058.21
Extraordinary expenses
EUR 639,191.00
Extraordinary result (+/-)
EUR -639,191.00
Income
tax / refund of income tax (+/-)EUR
-23,243,717.88
Tax (+/-)
EUR -23,243,717.88
Annual surplus / annual deficit
EUR 80,947,149.33
Type of
balance sheet: Company
balance sheet
Financial
year: 01.01.2012 - 31.12.2012
ASSETS EUR 562,130,630.27
Fixed assets
EUR 108,740,324.81
Intangible assets
EUR 4,944,116.76
Other / unspecified intangible assetsEUR 4,944,116.76
Tangible assets
EUR 95,789,135.29
Other / unspecified tangible assets
EUR 95,789,135.29
Financial assets
EUR 8,007,072.76
Other / unspecified financial assets EUR 8,007,072.76
Current assets
EUR 451,960,081.30
Stocks
EUR 60,534,092.51
Raw materials, consumables and
supplies
EUR 14,885,882.49
Finished goods / work in progress
EUR 45,648,210.02
Accounts receivable
EUR 86,940,038.56
Trade debtors
EUR 22,268,452.02
Amounts due from related companies
EUR 53,233,194.90
Other debtors and assets
EUR 11,438,391.64
Liquid means
EUR 304,485,950.23
Remaining other assets
EUR 1,430,224.16
Accruals (assets)
EUR 1,231,646.40
Active difference from asset
offsetting
EUR 198,577.76
LIABILITIES EUR 562,130,630.27
Shareholders' equity
EUR 363,691,869.32
Capital
EUR 61,156,320.00
Subscribed capital (share capital)
EUR 61,156,320.00
Reserves
EUR 220,864,824.01
Capital reserves
EUR 11,734,542.73
Retained earnings / revenue reserves EUR 209,130,281.28
Balance sheet profit/loss (+/-)
EUR 81,670,725.31
Balance sheet profit / loss
EUR 81,670,725.31
Items between shareholders' equity and
debt capital
EUR 47.06
Allowances / bonuses
EUR 47.06
Provisions
EUR 87,731,197.93
Pension provisions and comparable
provisions
EUR 45,544,724.00
Provisions for taxes
EUR 15,999,114.81
Other / unspecified provisions
EUR 26,187,359.12
Liabilities EUR 110,707,515.96
Financial debts
EUR 1,463,608.74
Liabilities due to banks
EUR 1,463,608.74
Other liabilities
EUR 109,243,907.22
Trade creditors (for IAS incl. bills
of exchange)
EUR 45,105,443.16
Liabililties due to related companiesEUR 56,151,809.03
Unspecified other liabilities
EUR 7,986,655.03
thereof liabilities from tax /
financial authorities
EUR 1,449,983.21
thereof liabilities from social
security
EUR 1,336.33
Guarantees and other commitments
EUR 330,000.00
Guarantees / warranties
EUR 330,000.00
Guarantees
EUR 330,000.00
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Sales EUR 649,723,135.69
Inventory change + own costs (+/-)
EUR 6,048,758.79
Inventory change (+/-)
EUR 3,272,572.42
Capitalised own costs
EUR 2,776,186.37
Other operating income
EUR 19,747,125.59
Cost of materials
EUR 369,396,165.24
Raw materials and supplies, purchased
goods
EUR 337,850,846.91
Purchased services EUR 31,545,318.33
Gross result (+/-)
EUR 306,122,854.83
Staff expenses
EUR 111,792,410.92
Wages and salaries
EUR 92,416,187.98
Social security contributions and
expenses for pension plans and
benefits
EUR 19,376,222.94
Total depreciation
EUR 22,995,360.81
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 22,995,360.81
Other operating expenses
EUR 98,521,259.68
Operating result from continuing
operations
EUR 72,813,823.42
Result
from participating interests
(+/-)
EUR 32,196,175.88
Expenses / income from participations EUR 32,196,175.88
Income from transfer of profits
EUR 32,195,782.30
Income from related companies
EUR 393.58
Interest result (+/-)
EUR 1,234,234.94
Interest and similar income
EUR 4,423,740.49
thereof from related companies
EUR 804,771.11
Interest and similar expenses
EUR 3,189,505.55
thereof paid to related companies
EUR 489,716.26
Other financial result
EUR 40,773.19
Income from securities and loans from
financial assets EUR 40,773.19
Financial result (+/-)
EUR 33,471,184.01
Result from ordinary operations (+/-)
EUR 106,285,007.43
Extraordinary expenses
EUR 639,191.00
Extraordinary result (+/-)
EUR -639,191.00
Income tax / refund of income tax (+/-)EUR -23,975,091.12
Tax (+/-)
EUR -23,975,091.12
Annual surplus / annual deficit
EUR 81,670,725.31
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.