MIRA INFORM REPORT

 

 

Report Date :

22.11.2014

 

IDENTIFICATION DETAILS

 

Name :

HENRY LAMOTTE FOOD GMBH

 

 

Registered Office :

Merkurstr. 47 D 28197 Bremen Post Box: 10 38 49, D 28038 Bremen

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

29.09.2006

 

 

Com. Reg. No.:

HRB 23830 HB

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Wholesale of food n.e.c.

 

 

No. of Employees :

55

 

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

 

Company name and address

 

HENRY LAMOTTE FOOD GMBH

 

 Company Status:         active

                                    Merkurstr. 47

                                    D 28197 Bremen

                                    Post Box:

                                    10 38 49, D 28038 Bremen

                                    Telephone:0421/523947-0

                                    Telefax:  0421/523947-199

                                    Homepage: www.lamotte.de

                                    E-mail:   info@lamotte.de

 

 VAT no.:                      DE249612917

 

 

CONCLUSION

 

 Business relations are permissible.

 

 LEGAL FORM               Private limited company

 Date of foundation:      2006

 Registered on:             29.09.2006

 Commercial Register:   Local court 28195 Bremen

 under:                          HRB 23830 HB

 

 Share capital:                          EUR          2,500,000.00

 

 Shareholder:

                      Otto Lamotte

                      Braut-Eichen 25 b

                      D 28757 Bremen

                      born: 09.06.1951

                      Share:             EUR          1,250,000.00

 Shareholder:

                      Henry Lamotte

                      Ferdinand-Dreier-Weg 2a

                      D 28717 Bremen

                      born: 25.10.1955

                      Share:             EUR          1,250,000.00

 Manager:

                      Henry Lamotte

                      Ferdinand-Dreier-Weg 2a

                      D 28717 Bremen

                      having sole power of representation

                      born: 25.10.1955

                      Profession: Businessman

                      Marital status: married

 Manager:

                      Rüdiger Baszulewski

                      D 28832 Achim

                      having sole power of representation

                      born: 01.12.1958

 Proxy:

                      Hermann Bosse

                      D 28197 Bremen

                      authorized to jointly represent the company

                      born: 19.10.1976

 Proxy:

                      Uwe Seeländer

                      D 27749 Delmenhorst

                      authorized to jointly represent the company

                      born: 29.03.1967

 Proxy:

                      Frank Neitzel

                      D 28844 Weyhe

                      authorized to jointly represent the company

                      born: 02.01.1966

 

 Further functions/participations of Henry Lamotte (Manager)

 Proprietor:

                      Bremer Tran- & Oelhandel Henry Lamotte e.K.

                      Merkurstr. 47

                      D 28197 Bremen

                      Legal form: Sole proprietorship

 Limited partner:

                      Henry Lamotte Food Beteiligungs GmbH & Co.

                      KG

                      Merkurstr. 47

                      D 28197 Bremen

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR            100,000.00

                      contribution:

                      Share:             EUR             50,000.00

                      Registered

                      on:         28.07.2006

                      Reg. data:  28195 Bremen, HRA 24447 HB

 Limited partner:

                      Henry Lamotte Oils Beteiligungs GmbH & Co.

                      KG

                      Merkurstr. 47

                      D 28197 Bremen

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR            100,000.00

                      contribution:

                      Share:             EUR             50,000.00

                      Registered

                      on:         28.07.2006

                      Reg. data:  28195 Bremen, HRA 24446 HB

 Limited partner:

                      Henry Lamotte Services Beteiligungs-GmbH &

                      Co. KG

                      Merkurstr. 47

                      D 28197 Bremen

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR             25,000.00

                      contribution:

                      Share:             EUR             12,500.00

                      Registered

                      on:         20.12.2006

                      Reg. data:  28195 Bremen, HRA 24631 HB

 Shareholder:

                      Henry Lamotte Oils GmbH

                      Merkurstr. 47

                      D 28197 Bremen

                      Post Box:

                      10 38 49, D 28038 Bremen

                      Legal form: Private limited company

                      Share capital:     EUR          4,500,000.00

                      Share:             EUR          2,250,000.00

                      Registered

                      on:         22.12.1992

                      Reg. data:  28195 Bremen, HRB 14591 HB

 Shareholder:

                      Henry Lamotte Oils Verwaltungs-GmbH

                      Merkurstr. 47

                      D 28197 Bremen

                      Post Box:

                      10 38 49, D 28038 Bremen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Registered

                      on:         26.05.2006

                      Reg. data:  28195 Bremen, HRB 23608 HB

 Shareholder:

                      Henry Lamotte Services Verwaltungs-GmbH

                      Merkurstr. 47

                      D 28197 Bremen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Registered

                      on:         15.12.2006

                      Reg. data:  28195 Bremen, HRB 23982 HB

 Manager:

                      Henry Lamotte Food Verwaltungs-GmbH

                      Merkurstr. 47

                      D 28197 Bremen

                      Post Box:

                      10 38 49, D 28038 Bremen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         23.05.2006

                      Reg. data:  28195 Bremen, HRB 23594 HB

 Manager:

                      Henry Lamotte Oils Verwaltungs-GmbH

                      Merkurstr. 47

                      D 28197 Bremen

                      Post Box:

                      10 38 49, D 28038 Bremen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         26.05.2006

                      Reg. data:  28195 Bremen, HRB 23608 HB

 Manager:

                      Henry Lamotte Services Verwaltungs-GmbH

                      Merkurstr. 47

                      D 28197 Bremen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         15.12.2006

                      Reg. data:  28195 Bremen, HRB 23982 HB

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 46389   Wholesale of food n.e.c.

 

 

FINANCIAL INFORMATION

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 Balance sheet year:  2013

 

 

REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Merkurstr. 47

                                    D 28197 Bremen

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK, 28079 BREMEN

 Sort. code: 29040090

 BIC: COBADEFFXXX, IBAN: DE31290400900105654800

 DEUTSCHE BANK, 28189 BREMEN

 Sort. code: 29070050, Account no.: 2405058

 BIC: DEUTDEHBXXX, IBAN: DE26290700500240505800

 SPARKASSE BREMEN, 28078 BREMEN

 Sort. code: 29050101, Account no.: 1156793

 BIC: SBREDE22XXX, IBAN: DE63290501010001156793

 

 

FINANCIAL FIGURES

 

 Turnover:            2012               EUR         66,480,279.00

                      2013               EUR         67,756,892.00

 Profit:              2012               EUR            744,495.00

                      2013               EUR            474,963.00

 further business figures:

 Equipment:                              EUR            254,544.00

 Ac/ts receivable:                       EUR          8,817,265.00

 Liabilities:                            EUR         23,248,910.00

 Employees:                                                     55

 - thereof permanent staff:                                     55

 

 

BALANCE SHEETS

 

 Balance sheet ratios                 01.01.2013 - 31.12.2013

 Equity ratio [%]:                       22.41

 Liquidity ratio:                          0.39

 Return on total capital [%]:       1.81

 

 Balance sheet ratios                 01.01.2012 - 31.12.2012

 Equity ratio [%]:                       24.18

 Liquidity ratio:                          0.38

 Return on total capital [%]:       3.05

 

 Balance sheet ratios                 01.01.2011 - 31.12.2011

 Equity ratio [%]:                       25.42

 Liquidity ratio:                          0.36

 Return on total capital [%]:       3.75

 

 Balance sheet ratios                 01.01.2010 - 31.12.2010

 Equity ratio [%]:                       29.94

 Liquidity ratio:                          0.42

 Return on total capital [%]:       5.70

 

 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         30,689,184.49

  Fixed assets                           EUR            927,461.69

   Tangible assets                       EUR            759,076.51

    Land / similar rights                EUR             96,791.00

    Plant / machinery                    EUR            407,742.00

    Other tangible assets / fixtures and

    fittings                             EUR            254,543.51

   Financial assets                      EUR            168,385.18

    Shares in participations /

    subsidiaries and the like            EUR            156,885.18

     Shares in related companies         EUR            156,885.18

    Other loans                          EUR             11,500.00

  Current assets                         EUR         29,755,172.38

   Stocks                                EUR         20,467,741.06

    Raw materials, consumables and

    supplies                             EUR             47,723.87

    Finished goods / work in progress    EUR         20,302,817.19

    Advance payments made                EUR            117,200.00

   Accounts receivable                   EUR          8,817,264.85

    Trade debtors                        EUR          7,767,318.99

    Amounts due from related companies   EUR              9,998.82

    Other debtors and assets             EUR          1,039,947.04

   Liquid means                          EUR            470,166.47

  Remaining other assets                 EUR              6,550.42

   Accruals (assets)                     EUR              6,550.42

 

 LIABILITIES                             EUR         30,689,184.49

  Shareholders' equity                   EUR          6,876,123.79

   Capital                               EUR          2,500,000.00

    Subscribed capital (share capital)   EUR          2,500,000.00

   Reserves                              EUR            493,659.92

    Capital reserves                     EUR            493,659.92

   Balance sheet profit/loss (+/-)       EUR          3,882,463.87

    Profit / loss brought forward        EUR          3,407,501.04

    Annual surplus / annual deficit      EUR            474,962.83

  Provisions                             EUR            564,150.48

   Pension provisions and comparable

   provisions                            EUR            109,861.76

   Other / unspecified provisions        EUR            454,288.72

  Liabilities                            EUR         23,248,910.22

   Financial debts                       EUR         13,989,851.70

    Liabilities due to banks             EUR         13,989,851.70

   Other liabilities                     EUR          9,259,058.52

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          7,924,730.78

    Unspecified other liabilities        EUR          1,334,327.74

     thereof liabilities from tax /

     financial authorities               EUR             41,352.81

     thereof liabilities from social

     security                            EUR             14,511.18

  Guarantees and other commitments       EUR         15,271,164.69

   Guarantees / warranties               EUR         15,246,075.33

    Guarantees                           EUR         15,246,075.33

   Other guarantees and other commitmentsEUR             25,089.36

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         67,756,892.12

  Other operating income                 EUR            454,984.71

  Cost of materials                      EUR         56,584,215.47

   Raw materials and supplies, purchased

   goods                                 EUR         56,584,215.47

  Gross result (+/-)                     EUR         11,627,661.36

  Staff expenses                         EUR          3,716,180.26

   Wages and salaries                    EUR          3,184,450.97

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            531,729.29

  Total depreciation                     EUR            121,531.58

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            121,531.58

  Other operating expenses               EUR          6,615,814.43

  Operating result from continuing

  operations                             EUR          1,174,135.09

  Interest result (+/-)                  EUR           -391,323.65

   Interest and similar income           EUR              5,052.32

    thereof from related companies       EUR                382.39

   Interest and similar expenses         EUR            396,375.97

  Other financial result                 EUR              1,299.37

   Income from securities and loans from

   financial assets                      EUR              1,299.37

  Financial result (+/-)                 EUR           -390,024.28

  Result from ordinary operations (+/-)  EUR            784,110.81

  Expenses for transfer of profits to a

  parent company                         EUR             80,432.27

  Income tax / refund of income tax (+/-)EUR           -228,715.71

  Tax (+/-)                              EUR           -228,715.71

  Annual surplus / annual deficit        EUR            474,962.83

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR         28,131,772.93

  Fixed assets                           EUR            976,482.41

   Intangible assets                     EUR                532.00

    Internally generated industrial

    property rights and similar rights

    and assets                           EUR                532.00

   Tangible assets                       EUR            801,559.75

    Land / similar rights                EUR             83,636.00

    Plant / machinery                    EUR            458,926.00

    Other tangible assets / fixtures and

    fittings                             EUR            251,795.70

    Advance payments made / construction

    in progress                          EUR              7,202.05

   Financial assets                      EUR            174,390.66

    Shares in participations /

    subsidiaries and the like            EUR            156,885.18

     Shares in related companies         EUR            156,885.18

    Other loans                          EUR             17,505.48

  Current assets                         EUR         27,148,938.96

   Stocks                                EUR         19,197,658.27

    Raw materials, consumables and

    supplies                             EUR             56,287.13

    Finished goods / work in progress    EUR         18,880,805.36

    Advance payments made                EUR            260,565.78

   Accounts receivable                   EUR          7,903,451.76

    Trade debtors                        EUR          7,442,153.33

    Amounts due from related companies   EUR              9,366.63

    Other debtors and assets             EUR            451,931.80

   Liquid means                          EUR             47,828.93

  Remaining other assets                 EUR              6,351.56

   Accruals (assets)                     EUR              6,351.56

 

 LIABILITIES                             EUR         28,131,772.93

  Shareholders' equity                   EUR          6,801,160.96

   Capital                               EUR          2,500,000.00

    Subscribed capital (share capital)   EUR          2,500,000.00

   Reserves                              EUR            493,659.92

    Capital reserves                     EUR            493,659.92

   Balance sheet profit/loss (+/-)       EUR          3,807,501.04

    Profit / loss brought forward        EUR          3,063,005.54

    Annual surplus / annual deficit      EUR            744,495.50

  Provisions                             EUR            655,847.43

   Pension provisions and comparable

   provisions                            EUR             91,356.14

   Other / unspecified provisions        EUR            564,491.29

  Liabilities                            EUR         20,674,764.54

   Financial debts                       EUR         15,076,121.65

    Liabilities due to banks             EUR         15,076,121.65

   Other liabilities                     EUR          5,598,642.89

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          4,308,503.03

    Unspecified other liabilities        EUR          1,290,139.86

     thereof liabilities from tax /

     financial authorities               EUR             39,931.64

     thereof liabilities from social

     security                            EUR             17,640.35

  Guarantees and other commitments       EUR         13,561,193.95

   Guarantees / warranties               EUR         13,561,193.95

    Guarantees                           EUR         13,561,193.95

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         66,480,278.97

  Other operating income                 EUR            864,195.95

  Cost of materials                      EUR         55,396,358.28

   Raw materials and supplies, purchased

   goods                                 EUR         55,396,358.28

  Gross result (+/-)                     EUR         11,948,116.64

  Staff expenses                         EUR          3,674,212.74

   Wages and salaries                    EUR          3,174,010.27

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            500,202.47

  Total depreciation                     EUR            123,051.33

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            123,051.33

  Other operating expenses               EUR          6,577,740.52

  Operating result from continuing

  operations                             EUR          1,573,112.05

  Interest result (+/-)                  EUR           -422,584.89

   Interest and similar income           EUR             10,778.72

   Interest and similar expenses         EUR            433,363.61

  Other financial result                 EUR              2,665.34

   Income from securities and loans from

   financial assets                      EUR              2,665.34

  Financial result (+/-)                 EUR           -419,919.55

  Result from ordinary operations (+/-)  EUR          1,153,192.50

  Expenses for transfer of profits to a

  parent company                         EUR            114,426.96

  Income tax / refund of income tax (+/-)EUR           -294,130.88

  Other taxes / refund of taxes          EUR               -139.16

  Tax (+/-)                              EUR           -294,270.04

  Annual surplus / annual deficit        EUR            744,495.50

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.85

UK Pound

1

Rs.97.01

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SDA

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.