|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAX KIENE GMBH |
|
|
|
|
Registered Office : |
Oberhafenstr. 1, D 20097 Hamburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishment : |
1920 |
|
|
|
|
Com. Reg. No.: |
HRB 58978 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Wholesale of Food N.E.C. |
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|
|
|
No. of Employees : |
26 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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, 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 |
Max Kiene GmbH
Company Status: active
Oberhafenstr.
1
D 20097 Hamburg
Telephone:040/3096550
Telefax: 040/30965520
Homepage: www.maxkiene.de
E-mail: maxkiene@maxkiene.de
DE173529027
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1920
Shareholders'
agreement: 10.04.1995
Registered on: 10.07.1995
Commercial Register: Local court 20355 Hamburg
under: HRB
58978
EUR 700,000.00
Zerno S.A.
28, Rue de l'Industrie
L 8069 Bertrange
Legal form: Other
legal form
Share: EUR 693,000.00
Shareholder:
Helmut Adolf Dankert
Grottenstr. 7
D 22605 Hamburg
born: 09.05.1942
Share: EUR 7,000.00
Manager:
Helmut Adolf Dankert
Grottenstr. 7
D 22605 Hamburg
having sole power of
representation
born: 09.05.1942
Profession: Businessman
Marital status: married
Manager:
Manon Sanz Karl
D 22844 Norderstedt
authorized to jointly represent the company
born:
24.03.1962
Manager:
Karsten Dankert
L - Luxemburg
born: 09.05.1966
Nationality: Luxembourg
Manager:
Thomas Apfel
Holunderweg 12
D 21220 Seevetal
born: 16.01.1970
Further functions/participations of Helmut
Adolf Dankert
(Manager)
Shareholder:
Helmut Dankert
Warenhandels GmbH
Oberhafenstr. 1
D 20097 Hamburg
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Registered
on: 28.03.1985
Reg. data: 20355 Hamburg, HRB 33985
Liquidator:
INFRUCHT GmbH
Lebensmittelimport
Oberhafenstr. 1
D 20097 Hamburg
Legal form: Private
limited company in
liquidation
Share capital: EUR 154,410.15
Registered
on: 10.06.1987
Reg. data: 20355 Hamburg, HRB 38040
Liquidator:
Helmut Dankert
Warenhandels GmbH
Oberhafenstr. 1
D 20097 Hamburg
Legal form: Private
limited company in
liquidation
Share capital: EUR 25,564.59
Registered
on: 28.03.1985
Reg. data: 20355 Hamburg, HRB 33985
28.04.1995 - 09.07.1995 Max Kiene
Oberhafenstr. 1
D 20097 Hamburg
Limited partnership
Main industrial sector
46389
Wholesale of food n.e.c.
Branch:
Max Kiene GmbH
Europa-Allee 65
D 54343 Föhren
TEL.: 06502 932670
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Oberhafenstraße
1
D 20097 Hamburg
Type of ownership: proprietor
Share: 100.00 %
Address Europa-Allee
65
D 54343 Föhren
Land register documents were not available.
Principal bank
JOH. BERENBERG, GOSSLER & CO, 20354
HAMBURG
Sort. code: 20120000
BIC: BEGODEHHXXX
Further banks
BANKHAUS LAMPE, 20003 HAMBURG
Sort. code: 48020151
BIC: LAMPDEDDXXX
COMMERZBANK
VORMALS DRESDNER BANK, 20349 HAMBURG
Sort. code: 20080000
BIC: DRESDEFF200
Turnover: 2012 EUR 74,855,868.00
2013 EUR 74,000,000.00
Profit: 2012 EUR 640,557.00
further business figures:
Equipment: EUR 357,673.00
Ac/ts receivable: EUR 10,391,378.00
Liabilities: EUR 19,064,947.00
Total numbers of vehicles: 4
- Passenger cars:
4
Employees:
26
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 55.53
Liquidity ratio: 0.98
Return on total capital [%]: 2.35
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 42.46
Liquidity ratio: 0.55
Return on total capital [%]: 2.31
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 54.32
Liquidity ratio: 0.98
Return on total capital [%]: 4.09
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 18.53
Liquidity ratio: 0.59
Return on total capital [%]: 8.11
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 27,280,344.07
Fixed assets EUR 6,470,885.46
Intangible assets EUR 24,638.98
Tangible assets EUR 6,446,246.48
Land / similar rights EUR 3,514,638.98
Plant / machinery EUR 2,501,184.09
Other tangible assets / fixtures and
fittings EUR 357,673.42
Advance payments made / construction
in progress EUR 72,749.99
Current assets EUR 20,784,565.52
Stocks EUR 10,173,586.54
Raw materials, consumables and
supplies EUR 7,001,765.70
Finished goods / work in progress EUR
3,171,820.84
Accounts receivable EUR 10,391,378.03
Trade debtors EUR 10,337,082.50
Other debtors and assets EUR 54,295.53
Liquid means EUR 219,600.95
Remaining other assets EUR 24,893.09
Accruals (assets) EUR 24,893.09
LIABILITIES EUR 27,280,344.07
Shareholders' equity EUR 6,672,310.14
Capital EUR 700,000.00
Subscribed capital (share capital) EUR 700,000.00
Reserves EUR 674,726.88
Capital reserves EUR 674,726.88
Balance sheet profit/loss (+/-) EUR 5,297,583.26
Profit / loss brought forward EUR 4,657,026.67
Annual surplus / annual deficit EUR 640,556.59
Items between shareholders' equity and
debt capital EUR 444,738.91
Allowances / bonuses EUR 444,738.91
Provisions EUR 1,098,347.64
Pension provisions and comparable
provisions EUR 13,511.00
Provisions for taxes EUR 322,382.00
Other / unspecified provisions EUR 762,454.64
Liabilities EUR 19,064,947.38
Financial debts EUR 8,330,275.56
Liabilities due to banks EUR 8,330,275.56
Other liabilities EUR 10,734,671.82
Trade creditors (for IAS incl. bills
of exchange) EUR 2,002,053.42
Liabililties due to related companiesEUR 8,259,245.46
Unspecified other liabilities EUR 473,372.94
thereof liabilities from tax /
financial authorities EUR 459,861.34
thereof liabilities from social
security EUR 0.00
Guarantees and other commitments EUR 6,374,000.00
Sureties / lendings of
creditworthiness EUR 6,374,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 74,855,867.91
Inventory change + own costs (+/-) EUR 98,446.49
Inventory change (+/-) EUR 98,446.49
Other operating income EUR 608,742.04
Cost of materials EUR 67,458,954.71
Raw materials and supplies, purchased
goods EUR 58,067,337.26
Purchased services EUR
9,391,617.45
Gross result (+/-) EUR 8,104,101.73
Staff expenses EUR 1,608,688.97
Wages and salaries EUR 1,352,379.56
Social security contributions and
expenses for pension plans and
benefits EUR 256,309.41
Total depreciation EUR 477,502.79
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 477,502.79
Other operating expenses EUR 4,235,779.60
Operating result from continuing
operations EUR 1,782,130.37
Interest result (+/-) EUR -594,403.26
Interest and similar expenses EUR 594,403.26
thereof paid to related companies EUR 218,392.36
Financial result (+/-) EUR -594,403.26
Result from ordinary operations (+/-) EUR
1,187,727.11
Income tax / refund of income tax
(+/-)EUR -539,650.30
Other taxes / refund of taxes EUR -7,520.22
Tax (+/-) EUR -547,170.52
Annual surplus / annual deficit EUR 640,556.59
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 34,356,340.45
Fixed assets EUR 5,863,440.02
Intangible assets EUR 387.92
Concessions, licences, rights EUR 387.92
Tangible assets EUR 5,863,052.10
Land / similar rights EUR 3,574,011.96
Plant / machinery EUR 1,962,831.73
Other tangible assets / fixtures and
fittings EUR 326,208.41
Current assets EUR 28,448,545.99
Stocks EUR 17,853,361.56
Raw materials, consumables and
supplies EUR 14,293,892.17
Finished goods / work in progress EUR
3,559,469.39
Accounts receivable EUR 10,503,058.05
Trade debtors EUR 10,478,260.12
Other debtors and assets EUR 24,797.93
Liquid means EUR 92,126.38
Remaining other assets EUR 44,354.44
Accruals (assets) EUR 44,354.44
LIABILITIES EUR 34,356,340.45
Shareholders' equity EUR 6,031,753.55
Capital EUR 700,000.00
Subscribed capital (share capital) EUR 700,000.00
Reserves EUR 674,726.88
Capital reserves EUR 674,726.88
Balance sheet profit/loss (+/-) EUR 4,657,026.67
Profit / loss brought forward EUR 3,863,329.02
Annual surplus / annual deficit EUR 793,697.65
Items between shareholders' equity and
debt capital EUR 354,757.38
Allowances / bonuses EUR 354,757.38
Provisions EUR 470,641.30
Pension provisions and comparable
provisions EUR 12,332.00
Provisions for taxes EUR 186,592.08
Other / unspecified provisions EUR 271,717.22
Liabilities EUR 27,499,188.22
Financial debts EUR 16,330,881.00
Liabilities due to banks EUR 16,330,881.00
Other liabilities EUR 11,168,307.22
Trade creditors (for IAS incl. bills
of exchange) EUR 2,383,933.71
Liabililties due to related
companiesEUR 8,377,849.67
Unspecified other liabilities EUR 406,523.84
thereof liabilities from tax /
financial authorities EUR 387,671.64
thereof liabilities from social
security EUR 0.00
PROFIT AND LOSS ACCOUNT (cost-summary method) according
to Comm.
Code (HGB)
Sales EUR 74,469,517.99
Inventory change + own costs (+/-) EUR 178,929.30
Inventory change (+/-) EUR 178,929.30
Other operating income EUR 546,085.37
Cost of materials EUR 68,554,352.69
Raw materials and supplies, purchased
goods EUR 57,622,046.39
Purchased services EUR
10,932,306.30
Gross result (+/-) EUR 6,640,179.97
Staff expenses EUR 1,117,956.33
Wages and salaries EUR 968,946.84
Social security contributions and
expenses for pension plans and
benefits EUR 149,009.49
Total depreciation EUR 136,506.95
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 136,506.95
Other operating expenses EUR 3,666,746.35
Operating result from continuing
operations EUR 1,718,970.34
Interest result (+/-) EUR -535,708.03
Interest and similar expenses EUR 535,708.03
thereof paid to related companies EUR 198,563.33
Financial result (+/-) EUR -535,708.03
Result from ordinary operations (+/-) EUR
1,183,262.31
Income tax / refund of income tax
(+/-)EUR -387,551.26
Other taxes / refund of taxes EUR -2,013.40
Tax (+/-) EUR -389,564.66
Annual surplus / annual deficit
EUR 793,697.65
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.