|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
BIMECO GARNHANDEL GMBH &
CO.KOMMANDITGESELLSCHAFT |
|
|
|
|
Registered Office : |
Hemdener Weg 109, D 46399 Bocholt, Post Box:11 47, D 46361
Bocholt |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.01.1985 |
|
|
|
|
Com. Reg. No.: |
HRA 4808 |
|
|
|
|
Legal Form : |
Ltd partnership with priv. ltd. company as
general partner |
|
|
|
|
Line of Business : |
Wholesale of other intermediate goods |
|
|
|
|
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 : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
Bimeco Garnhandel GmbH & Co.
Kommanditgesellschaft
Hemdener Weg 109
D 46399 Bocholt
Post Box:
11 47, D 46361 Bocholt
Telephone: 02871/2702-0
Telefax: 02871/33830
Homepage: www.bimeco.com
E-mail: info@bimeco.de
DE124169081
Business relations are permissible.
LEGAL FORM Ltd
partnership with priv. ltd. company as general partner
Date of foundation: 01.01.1985
Registered on: 13.02.1985
Register of companies: Local
court 48653 Coesfeld
under: HRA
4808
Total cap. contribution: EUR 2,100,000.00
Ursula Teismann
Heinestr. 14
D 46397 Bocholt
born: 02.11.1948
née: Kunz
Share: EUR 1,176,000.00
Limited partner:
Gertrud Bußhaus
Winterswijker Str. 94
D 46399 Bocholt
born: 23.04.1960
née: Horstmann
Share: EUR 420,000.00
Limited partner:
Dirk Ciborski
Reeser Str. 15
D 46395 Bocholt
born: 13.04.1964
Share: EUR 231,000.00
Limited partner:
Marion Ridder
Heinrich-Hillermann-Weg
18
D 46395 Bocholt
born: 09.10.1975 in
Wagna/Österreich
née: Bernhard
Share: EUR
147,000.00
Limited partner:
Elisabeth Heller
Pfarrer-Wissing-Str. 22
D 46397 Bocholt
born: 28.04.1958
née: Heisterkamp
Share: EUR 126,000.00
Bimeco Garnhandel
Verwaltungsgesellschaft
mbH
Hemdener Weg 109
D 46399 Bocholt
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered on: 25.01.1985
Reg. data: 48653
Coesfeld, HRB 7958
Ursula Teismann
Heinestr. 14
D 46397 Bocholt
born: 02.11.1948
née: Kunz
Share: EUR 25,564.59
Dirk Ciborski
Reeser Str. 15
D 46395 Bocholt
having sole power of
representation
born: 13.04.1964
Profession: Businessman
Manager:
Alois Bußhaus
Paßkamp 5
D 46414 Rhede
having sole power of
representation
born: 09.05.1959
Profession: Businessman
Carsten Ridder
Heinrich-Hillermann-Weg
18
D 46395 Bocholt
having sole power of
representation
born: 10.12.1973
Profession: Businessman
Further functions/participations of Bimeco
Garnhandel
Verwaltungsgesellschaft mbH (General partner)
Shareholder:
Aleni GmbH
Hemdener Weg 109
D 46399 Bocholt
Legal form: Private
limited company
Share capital: EUR 50,000.00
Share: EUR 25,000.00
Registered
on: 19.04.2007
Reg. data: 48653 Coesfeld, HRB 10674
Main industrial sector
46760
Wholesale of other intermediate goods
Limited partner:
Bimeco Synteks GmbH &
Co. KG
Hemdener Weg 109
D 46399 Bocholt
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 1,300,000.00
contribution:
Share: EUR 585,000.00
Reg. data: 08.10.2003
Local court
48653 Coesfeld
HRA 5127
Payment experience: without complaints
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Hemdener Weg 109
D 46399 Bocholt
Real Estate of: Bimeco Garnhandel Verwaltungsgesellschaft
mbH
Type of ownership: Tenant
Address Hemdener Weg 109
D 46399 Bocholt
Land register documents were not available.
Principal bank
VOLKSBANK BOCHOLT, 46374 BOCHOLT
Sort. code: 42860003, Account no.: 8770800
BIC: GENODEM1BOH, IBAN: DE20428600030008770800
Further banks
DEUTSCHE BANK, 46399 BOCHOLT
Sort. code: 42870077, Account no.: 3156601
BIC: DEUTDE3B428, IBAN: DE30428700770315660100
SPARKASSE WESTMÜNSTERLAND, 48683 AHAUS
Sort. code: 40154530
BIC: WELADE3WXXX
STADTSPARKASSE BOCHOLT, 46372 BOCHOLT
Sort. code: 42850035
BIC: WELADED1BOH
Turnover: 2013 EUR 13,000,000.00
Expected turnover: EUR 12,500,000.00
Profit: 2012 EUR 150,391.00
2013 EUR 80,000.00
further business figures:
Equipment: EUR 90,647.00
Ac/ts receivable: EUR 1,566,131.00
Liabilities: EUR 3,149,150.00
Total numbers of vehicles: 2
-
Passenger cars:
2
Employees:
15
-
Part-time employees: 6
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 41.19
Liquidity ratio: 0.51
Return on total capital [%]: 2.64
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 36.33
Liquidity ratio: 0.46
Return on total capital [%]: -5.61
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 37.26
Liquidity ratio: 0.69
Return on total capital [%]: 15.27
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 28.28
Liquidity ratio: 0.80
Return on total capital [%]: 3.77
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 5,686,797.63
Fixed assets
EUR 299,572.50
Intangible assets
EUR 7,882.00
Concessions, licences, rights
EUR 7,882.00
Tangible assets EUR 266,690.50
Land / similar rights
EUR 176,038.00
Plant / machinery
EUR 6.00
Other tangible assets / fixtures and
fittings
EUR 90,646.50
Financial assets
EUR 25,000.00
Shares in participations /
subsidiaries and the like
EUR 25,000.00
Shares in investee companies
EUR 25,000.00
Current assets
EUR 5,369,865.13
Stocks
EUR 3,803,138.88
Finished goods / work in progress
EUR 3,803,138.88
Accounts receivable
EUR 1,566,131.22
Trade debtors
EUR 1,505,543.70
Other debtors and assets
EUR 60,587.52
Liquid means
EUR 595.03
Remaining other assets
EUR 17,360.00
Accruals (assets)
EUR 17,360.00
LIABILITIES EUR 5,686,797.63
Shareholders' equity
EUR 2,250,390.70
Capital
EUR 2,100,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 2,100,000.00
Limited partner's capital, fixed
capital, capital account I
EUR 2,100,000.00
Reserves EUR 15,039.00
Retained earnings / revenue reserves EUR 15,039.00
Balance sheet profit/loss (+/-)
EUR 135,351.70
Balance sheet profit / loss
EUR 135,351.70
Provisions EUR 287,256.61
Pension provisions and comparable
provisions
EUR 207,539.76
Provisions for taxes
EUR 7,197.00
Other / unspecified provisions
EUR 72,519.85
Liabilities
EUR 3,149,150.32
Financial debts
EUR 2,074,140.20
Liabilities due to banks
EUR 2,074,140.20
Other liabilities
EUR 1,075,010.12
Trade creditors (for IAS incl. bills
of exchange)
EUR 969,654.41
Liabilities due to shareholders
EUR 91,855.54
Unspecified other liabilities
EUR 13,500.17
thereof liabilities from tax /
financial authorities
EUR 9,025.65
thereof liabilities from social
security
EUR 2,914.40
Guarantees
and other commitments EUR 1,987,000.00
Guarantees / warranties
EUR 1,987,000.00
Warranties
EUR 1,987,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 1,308,070.03
Other operating expenses
EUR 1,079,810.93
Operating result from continuing
operations
EUR 228,259.10
Interest result (+/-)
EUR -66,280.26
Interest and similar income
EUR 2.74
Interest and similar expenses
EUR 66,283.00
Financial result (+/-)
EUR -66,280.26
Result from ordinary operations (+/-)
EUR 161,978.84
Income tax / refund of income tax (+/-)EUR -7,197.00
Other taxes / refund of taxes
EUR -4,391.14
Tax
(+/-) EUR -11,588.14
Annual surplus / annual deficit
EUR 150,390.70
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 6,031,812.44
Fixed assets
EUR 310,763.00
Intangible assets
EUR 13,131.00
Concessions, licences, rights
EUR 13,131.00
Tangible assets
EUR 272,632.00
Land / similar rights
EUR 187,017.00
Plant / machinery
EUR 6.00
Other tangible assets / fixtures and
fittings
EUR 85,609.00
Financial assets
EUR 25,000.00
Shares in participations /
subsidiaries and the like
EUR 25,000.00
Shares in investee companies
EUR 25,000.00
Current assets
EUR 5,697,179.44
Stocks
EUR 4,074,940.88
Finished goods / work in progress
EUR 4,074,940.88
Accounts receivable
EUR 1,598,504.75
Trade debtors EUR 1,553,554.45
Other debtors and assets
EUR 44,950.30
Liquid means
EUR 23,733.81
Remaining other assets
EUR 23,870.00
Accruals (assets)
EUR 23,870.00
LIABILITIES EUR 6,031,812.44
Shareholders' equity
EUR 2,100,000.00
Capital
EUR 2,100,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 2,100,000.00
Provisions
EUR 365,380.37
Pension provisions and comparable
provisions EUR 182,750.99
Other / unspecified provisions
EUR 182,629.38
Liabilities
EUR 3,566,432.07
Financial debts
EUR 2,083,917.50
Liabilities due to banks
EUR 2,083,917.50
Other liabilities
EUR 1,482,514.57
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,375,525.31
Liabilities due to shareholders
EUR 91,500.35
Unspecified other liabilities
EUR 15,488.91
thereof liabilities from tax /
financial authorities
EUR 9,473.99
thereof liabilities from social
security
EUR 4,188.15
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 829,132.39
Other operating expenses
EUR 1,100,363.11
Operating result from continuing
operations
EUR -271,230.72
Interest result (+/-)
EUR -64,759.47
Interest and similar income
EUR 945.53
Interest and similar expenses EUR 65,705.00
Financial result (+/-)
EUR -64,759.47
Result from ordinary operations (+/-)
EUR -335,990.19
Other taxes / refund of taxes
EUR -2,298.21
Tax
(+/-)
EUR -2,298.21
Annual surplus / annual deficit
EUR -338,288.40
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.