|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BOREALIS
AGROLINZ MELAMINE DEUTSCHLAND GMBH |
|
|
|
|
Registered Office : |
Möllensdorfer
Str. 13 D 06886 Lutherstadt Wittenberg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.11.2000 |
|
|
|
|
Legal Form : |
Private
limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees |
91 |
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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
BOREALIS AGROLINZ MELAMINE
DEUTSCHLAND GMBH
Company Status: active
Möllensdorfer Str. 13
D 06886 Lutherstadt Wittenberg
Telephone:03491/680+682209
Telefax: 03491/682200
Homepage: www.agrolinz.com
E-mail: info@borealisgroup.com
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 08.11.2000
Begin of business
activities: 12.05.2005
Shareholders'
agreement: 08.11.2000
Registered on: 21.03.2001
Commercial Register: Local court 39576 Stendal
under:
HRB 16111
Share capital: EUR 500,000.00
Shareholder:
Borealis Agrolinz
Melamine GmbH
St. Peterstr. 25
A 4021 Linz
Legal form: Other legal
form
Share: EUR 500,000.00
Manager:
Jürgen Mader
D 84489 Burghausen
born: 14.09.1961
Manager:
Ingo Rendel
A Wilhering
born: 27.10.1969
Nationality: Austrian
Proxy:
Dietmar Remplbauer
Tulpenweg 6
A 4502 St. Marien
authorized to jointly represent
the company
born: 13.09.1962
Proxy:
Dr. Achim Willy Gerhard
Hesse
D 01067 Dresden
authorized to jointly
represent the company
born: 12.10.1953
Proxy:
Mag. Norbert Kehrer
A Herzogsdorf
authorized to jointly
represent the company
born: 19.07.1966
Proxy:
Manuel Beschliesser
A Hirschbach im Mühlkreis
authorized to jointly
represent the company
born: 07.07.1973
Nationality: Austrian
Further functions/participations of Jürgen
Mader (Manager)
Proxy:
EPS Ethylen-Pipeline-Süd
GmbH & Co. KG
Carl-Zeiss-Ring 23
D 85737 Ismaning
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 700,000.00
contribution:
Registered
on: 02.01.2007
Reg. data: 80333 München, HRA 89363
Proxy:
Borealis Polymere GmbH
Haiminger Str. 1
D 84489 Burghausen
Legal form: Private
limited company
Share capital: EUR
18,407,000.00
Registered
on: 12.08.1988
Reg. data: 83278 Traunstein, HRB 9411
08.11.2000 - 20.03.2001 nyrs Zwölfte Vermögensverwaltungs GmbH
Neutormauer 16
D 90403 Nürnberg
Private limited
company
20.03.2001 - 28.07.2009 Agrolinz Melamin Deutschland GmbH
Möllensdorfer Str. 13
D 06886 Lutherstadt
Wittenberg
Private limited
company
Main industrial sector
2015
Manufacture of fertilizers and nitrogen compounds
20590 Manufacture of other chemical products n.e.c.
4675 Wholesale of chemical products
BALANCE SHEET YEAR: 2012
Type of ownership: Tenant
Address Möllensdorfer
Str. 13
D 06886 Lutherstadt Wittenberg
Land register documents were not available.
Principal bank
OBERBANK NDL DEUTSCHLAND, 80068 MÜNCHEN
Sort. code: 70120700
BIC: OBKLDEMXXXX
Turnover: 2012 EUR 101,148,854.00
2013
EUR 100,000,000.00
Profit: 2012 EUR 1,238,449.00
further business figures:
Equipment: EUR 1,188,238.00
Ac/ts receivable: EUR
23,608,540.00
Liabilities: EUR
17,082,213.00
Employees:
91
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 44.74
Liquidity ratio: 1.43
Return on total capital [%]: 2.25
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 38.86
Liquidity ratio: 0.77
Return on total capital [%]: -9.23
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 28.14
Liquidity ratio: 0.42
Return on total capital [%]: 19.93
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 15.54
Liquidity ratio: 0.52
Return on total capital [%]: -13.39
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 55,150,741.91
Fixed assets EUR 23,043,814.73
Tangible assets EUR 23,043,814.73
Land / similar
rights EUR 2,801,257.32
Plant / machinery EUR 18,971,903.22
Other tangible assets /
fixtures and
fittings EUR 1,188,237.99
Advance payments made /
construction
in progress EUR 82,416.20
Current assets EUR 30,165,854.87
Stocks EUR 6,545,334.90
Raw materials,
consumables and
supplies EUR 559,687.29
Finished goods / work in
progress EUR 5,985,647.61
Accounts receivable EUR 23,608,539.99
Trade debtors EUR 13,762,147.61
Amounts due from related
companies EUR 7,914,503.99
Other debtors and
assets EUR 1,931,888.39
Liquid means EUR 11,979.98
Remaining other
assets EUR 1,941,072.31
Accruals (assets) EUR 1,941,072.31
LIABILITIES EUR 55,150,741.91
Shareholders' equity EUR 21,048,307.86
Capital EUR 500,000.00
Subscribed capital
(share capital) EUR 500,000.00
Reserves EUR 55,000,000.00
Capital reserves EUR 55,000,000.00
Balance sheet profit/loss
(+/-) EUR -34,451,692.14
Balance sheet profit /
loss EUR -34,451,692.14
Items between
shareholders' equity and
debt capital EUR 6,230,699.52
Allowances / bonuses EUR 6,230,699.52
Provisions EUR 10,789,521.46
Other / unspecified
provisions EUR 10,789,521.46
Liabilities EUR 17,082,213.07
Other liabilities EUR 17,082,213.07
Trade creditors (for IAS
incl. bills
of exchange) EUR 8,863,131.26
Liabililties due to
related companiesEUR 8,140,048.36
Unspecified other
liabilities EUR 79,033.45
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 101,148,853.64
Inventory change + own
costs (+/-) EUR -3,897,852.95
Inventory change
(+/-) EUR -3,897,852.95
Other operating
income EUR 3,918,220.67
Cost of materials EUR 56,137,102.77
Raw materials and
supplies, purchased
goods EUR 55,843,324.64
Purchased services EUR 293,778.13
Gross result (+/-) EUR 45,032,118.59
Staff expenses EUR 5,331,762.85
Wages and salaries EUR 4,507,018.12
Social security
contributions and
expenses for pension
plans and
benefits EUR 824,744.73
Total depreciation EUR 11,353,790.23
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 11,353,790.23
Other operating
expenses EUR 26,974,496.37
Operating result from
continuing
operations EUR 1,372,069.14
Interest result (+/-) EUR -147,162.08
Interest and similar
income EUR 422,557.93
thereof from related
companies EUR 1,314.25
Interest and similar
expenses EUR 569,720.01
thereof paid to related
companies EUR 63,562.34
Financial result
(+/-) EUR -147,162.08
Result from ordinary
operations (+/-) EUR 1,224,907.06
Income tax / refund of
income tax (+/-)EUR 103,752.79
Other taxes / refund of
taxes EUR -90,211.32
Tax (+/-) EUR
13,541.47
Annual surplus / annual
deficit EUR 1,238,448.53
TYPE OF BALANCE SHEET: COMPANY
BALANCE SHEET
FINANCIAL YEAR: 01.01.2011 - 31.12.2011
ASSETS EUR 63,132,709.93
Fixed assets EUR 33,765,791.35
Tangible assets EUR 33,765,791.35
Other / unspecified
tangible assets EUR 33,765,791.35
Current assets EUR
27,105,307.99
Stocks EUR 10,288,904.25
Raw materials,
consumables and
supplies EUR 405,403.69
Finished goods / work in
progress EUR 9,883,500.56
Accounts receivable EUR 16,560,467.02
Trade debtors EUR 11,147,218.82
Amounts due from related
companies EUR 4,083,999.38
Other debtors and
assets EUR 1,329,248.82
Liquid means EUR 255,936.72
Remaining other
assets EUR 2,261,610.59
Accruals (assets) EUR 2,261,610.59
LIABILITIES EUR 63,132,709.93
Shareholders' equity EUR 19,809,859.33
Capital EUR 500,000.00
Subscribed capital
(share capital) EUR 500,000.00
Reserves EUR 55,000,000.00
Capital reserves EUR 55,000,000.00
Balance sheet profit/loss
(+/-) EUR -35,690,140.67
Balance sheet profit /
loss EUR -35,690,140.67
Items between
shareholders' equity and
debt capital EUR 9,453,146.08
Allowances / bonuses EUR 9,453,146.08
Provisions EUR 12,212,996.15
Provisions for taxes EUR 1,730,778.02
Other / unspecified
provisions EUR 10,482,218.13
Liabilities EUR 21,656,708.37
Financial debts EUR 2.35
Liabilities due to
banks EUR 2.35
Other liabilities EUR 21,656,706.02
Trade creditors (for IAS
incl. bills
of exchange) EUR 10,866,474.56
Liabililties due to
related companiesEUR
10,476,185.70
Unspecified other
liabilities EUR 314,045.76
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm.
Code (HGB)
Sales EUR 105,090,290.07
Inventory change + own
costs (+/-) EUR 5,802,365.17
Inventory change
(+/-) EUR 5,802,365.17
Other operating
income EUR 9,096,413.71
Cost of materials EUR 52,239,292.32
Raw materials and
supplies, purchased
goods EUR 51,098,058.32
Purchased services EUR 1,141,234.00
Gross result (+/-) EUR 67,749,776.63
Staff expenses EUR 5,401,735.69
Wages and salaries EUR 4,570,239.82
Social security
contributions and
expenses for pension
plans and
benefits EUR 831,495.87
Total depreciation EUR 36,043,041.74
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 36,043,041.74
Other operating expenses EUR 31,754,846.41
Operating result from
continuing
operations EUR -5,449,847.21
Interest result (+/-) EUR -338,208.97
Interest and similar
income EUR 2,560,373.92
thereof from related
companies EUR 30,144.74
Interest and similar
expenses EUR 2,898,582.89
thereof paid to related
companies EUR 97,005.45
Financial result
(+/-) EUR -338,208.97
Result from ordinary
operations (+/-) EUR -5,788,056.18
Income tax / refund of
income tax (+/-)EUR -37,812.33
Tax (+/-) EUR -37,812.33
Annual surplus / annual
deficit EUR -5,825,868.51
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.