|
Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SORING GMBH |
|
|
|
|
Registered Office : |
Justus-von-Liebig-Ring 2, D 25451
Quickborn |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.01.1989 |
|
|
|
|
Com. Reg. No.: |
HRB 2647 PI |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Manufacture
of irradiation, electromedical and electrotherapeutic equipment · Wholesale of medical and orthopedic goods, dental and laboratory supplies |
|
|
|
|
No. of Employees : |
133 |
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 |
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|
|
|
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 |
Söring
GmbH
Company Status: active
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Telephone:04106/6100-0
Telefax: 04106/6100-10
Homepage: www.soering.com
E-mail: info@soering.com
DE134802662
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 27.01.1989
Begin of business
activities: 27.01.1989
Shareholders'
agreement: 27.01.1989
Registered on: 07.03.1989
Commercial
Register: Local court 25421 Pinneberg
under: HRB
2647 PI
EUR
255,645.94
Holger Söring
Beteiligungs-GmbH & Co. KG
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 5,400.00
contribution:
Share: EUR 255,645.94
Registered on: 08.01.2007
Reg. data: 25421
Pinneberg, HRA 5065 PI
Manager:
Anna Katharina Söring
Wilhelm-Drexelius-Weg 4
D 22307 Hamburg
having sole power of
representation
born: 25.07.1986
Proxy:
Hans-Ulrich Lohfeld
D 20095 Hamburg
having sole power of
representation
born: 24.01.1960
Proxy:
Volker Mohr
D 24568 Nützen
having sole power of
representation
born: 06.09.1961
Proxy:
Harald Beyer
D 22527 Hamburg
having sole power of
representation
born: 13.12.1957
Further functions/participations of Anna
Katharina Söring
(Manager)
Limited partner:
Holger Söring
Beteiligungs-GmbH & Co. KG
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Total cap. EUR 5,400.00
contribution:
Share: EUR 1,800.00
Registered
on: 08.01.2007
Reg. data: 25421 Pinneberg, HRA 5065 PI
Shareholder:
Söring management GmbH
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Private limited company
Share capital: EUR 27,000.00
Share: EUR 9,000.00
Registered
on: 07.10.2009
Reg. data: 25421 Pinneberg, HRB 8261 PI
Manager:
Söring management GmbH
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Private
limited company
Share capital: EUR 27,000.00
Registered
on: 07.10.2009
Reg. data: 25421 Pinneberg, HRB 8261 PI
28.02.2011 - 12.03.2013 Manager
Natali Salcenko
D 25524 Itzehoe
28.11.2002 - 09.05.2012 Manager
Holger Söring
D 25451 Quickborn
Main industrial sector
26600
Manufacture of irradiation, electromedical and electrotherapeutic
equipment
46462
Wholesale of medical and orthopedic goods, dental and laboratory
supplies
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Proprietor
Share: 100.00
%
Address Justus-von-Liebig-Ring
2
D 25451 Quickborn
Land register documents were not
available.
COMMERZBANK VORMALS DRESDNER BANK, 25442
QUICKBORN, KR PINNEBERG
Sort. code: 20080000
BIC: DRESDEFF200
COMMERZBANK, 25451 QUICKBORN, KR PINNEBERG
Sort. code: 20040000
BIC: COBADEHHXXX
Gross profit or loss:2012 EUR 18,841,057.00
Profit: 2012 EUR 2,928,072.00
Equipment: EUR 491,524.00
Ac/ts receivable: EUR 4,022,919.00
Liabilities: EUR 4,818,970.00
Real
estate of the firm:
EUR 4,317,916.00
Employees:
133
-
Trainees: 7
-
Temporary workers: 2
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 58.46
Liquidity ratio: 1.74
Return on total capital [%]: 17.07
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 52.82
Liquidity ratio: 2.94
Return on total capital [%]: 11.64
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 54.47
Liquidity ratio: 1.29
Return on total capital [%]: 13.69
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 46.93
Liquidity ratio: 0.74
Return on total capital [%]: 14.01
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 17,291,458.66
Fixed assets
EUR 8,141,733.15
Intangible assets
EUR 169,260.00
Concessions, licences, rights
EUR 169,260.00
Tangible assets
EUR 5,207,276.94
Land / similar rights
EUR 4,317,916.94
Plant / machinery
EUR 273,064.00
Other tangible assets / fixtures and
fittings
EUR 491,524.00
Advance payments made / construction
in progress
EUR 124,772.00
Financial assets
EUR 2,765,196.21
Shares in participations /
subsidiaries and the like
EUR 10,151.00
Shares in related companies
EUR 151.00
Shares in investee companies EUR 10,000.00
Loans to participations /
subsidiaries and the like
EUR 2,755,045.21
Loans to related companies
EUR 2,755,045.21
Current assets
EUR 9,064,666.67
Stocks
EUR 2,458,914.21
Raw materials, consumables and
supplies
EUR 709,839.60
Finished goods / work in progress
EUR 1,749,074.61
Accounts receivable
EUR 4,022,919.23
Trade debtors
EUR 3,821,315.27
Amounts due from related companies
EUR 178,819.14
Other debtors and assets
EUR 22,784.82
Liquid means
EUR 2,582,833.23
Remaining other assets
EUR 85,058.84
Accruals (assets)
EUR 85,058.84
LIABILITIES EUR 17,291,458.66
Shareholders' equity
EUR 10,165,827.55
Capital
EUR 255,645.94
Subscribed capital (share capital)
EUR 255,645.94
Balance sheet profit/loss (+/-) EUR
9,910,181.61
Profit / loss brought forward
EUR 7,020,587.99
Annual surplus / annual deficit
EUR 2,889,593.62
Items between shareholders' equity and
debt capital
EUR 245,422.11
Mezzanine financing
EUR 245,422.11
Contributions of silent partners
EUR 245,422.11
Provisions
EUR 2,061,239.25
Provisions for taxes
EUR 644,639.25
Other / unspecified provisions
EUR 1,416,600.00
Liabilities
EUR 4,818,969.75
Financial debts
EUR 3,554,058.28
Liabilities
due to banks EUR 3,554,058.28
Other liabilities
EUR 1,264,911.47
Trade creditors (for IAS incl. bills
of exchange)
EUR 765,549.08
Unspecified other liabilities
EUR 499,362.39
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 18,841,057.65
Staff expenses
EUR 7,504,017.71
Wages and salaries
EUR 6,437,590.01
Social security contributions and
expenses for pension plans and
benefits
EUR 1,066,427.70
Total depreciation
EUR 535,635.90
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 535,635.90
Other operating expenses
EUR 6,620,665.11
Operating result from continuing
operations
EUR 4,180,738.93
Interest result (+/-)
EUR -186,698.38
Interest and similar income
EUR 11,048.88
Interest and similar expenses
EUR 197,747.26
Financial result (+/-)
EUR -186,698.38
Result from ordinary operations (+/-)
EUR 3,994,040.55
Expenses for transfer of profits to a
parent company
EUR 38,478.15
Income tax / refund of income tax (+/-)EUR -1,045,950.71
Other taxes / refund of taxes
EUR -20,018.07
Tax
(+/-)
EUR -1,065,968.78
Annual surplus / annual deficit
EUR 2,889,593.62
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 13,675,936.95
Fixed assets
EUR 4,801,759.00
Intangible assets
EUR 175,201.00
Concessions, licences, rights
EUR 175,201.00
Tangible assets
EUR 4,586,306.25
Land / similar rights
EUR 3,954,956.00
Plant / machinery
EUR 306,768.00
Other tangible assets / fixtures and
fittings
EUR 275,591.00
Advance payments made / construction
in progress EUR 48,991.25
Financial assets
EUR 40,251.75
Shares in participations /
subsidiaries and the like
EUR 10,152.42
Shares in related companies
EUR 152.42
Shares in investee companies
EUR 10,000.00
Loans to participations /
subsidiaries and the like
EUR 30,099.33
Loans to related companies
EUR 30,099.33
Current assets
EUR 8,774,931.06
Stocks
EUR 1,314,136.09
Raw materials, consumables and
supplies
EUR 1,072,294.81
Finished goods / work in progress
EUR 241,841.28
Accounts receivable
EUR 3,347,885.43
Trade debtors
EUR 3,056,599.28
Amounts due from related companies
EUR 136,219.81
Other debtors and assets
EUR 155,066.34
Liquid means
EUR 4,112,909.54
Remaining other assets
EUR 99,246.89
Accruals (assets)
EUR 99,246.89
LIABILITIES EUR 13,675,936.95
Shareholders' equity
EUR 7,276,233.93
Capital
EUR 255,645.94
Subscribed capital (share capital)
EUR 255,645.94
Balance sheet profit/loss (+/-)
EUR 7,020,587.99
Profit / loss brought forward
EUR 5,490,134.97
Annual surplus / annual deficit
EUR 1,530,453.02
Items between shareholders' equity and
debt capital
EUR 327,228.81
Mezzanine financing
EUR 327,228.81
Contributions of silent partners
EUR 327,228.81
Provisions
EUR 854,241.19
Provisions for taxes
EUR 109,641.19
Other / unspecified provisions
EUR 744,600.00
Liabilities
EUR 5,218,233.02
Financial debts EUR 4,185,255.26
Liabilities due to banks
EUR 4,185,255.26
Other liabilities
EUR 1,032,977.76
Trade creditors (for IAS incl. bills
of exchange)
EUR 348,634.02
Unspecified other liabilities
EUR 684,343.74
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 14,586,674.98
Staff expenses EUR 6,796,573.42
Wages and salaries
EUR 5,902,819.46
Social security contributions and
expenses for pension plans and
benefits
EUR 893,753.96
Total
depreciation EUR 355,363.06
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 355,363.06
Other operating expenses
EUR 4,965,794.93
Operating result from continuing
operations
EUR 2,468,943.57
Interest result (+/-)
EUR -214,431.96
Interest and similar income
EUR 12,495.27
Interest and similar expenses
EUR 226,927.23
Other financial result
EUR -38,968.97
Depreciation on financial assets and
marketable securities
EUR 38,968.97
Financial
result (+/-) EUR -253,400.93
Result from ordinary operations (+/-)
EUR 2,215,542.64
Expenses for transfer of profits to a
parent company
EUR 44,993.69
Income tax / refund of income tax (+/-)EUR -620,860.49
Other taxes / refund of taxes
EUR -19,235.44
Tax
(+/-)
EUR -640,095.93
Annual surplus / annual deficit
EUR 1,530,453.02
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
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.