|
Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE
CHEMICALS GMBH |
|
|
|
|
Registered Office : |
Spohrstr. 2 D 22083 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.09.1984 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Wholesale
of chemical products |
|
|
|
|
No. of Employees : |
29 |
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 |
GLOBE CHEMICALS GMBH
Company Status: active
Spohrstr. 2
D 22083 Hamburg
Telephone:040/271525-0
Telefax: 040/271525-25
Homepage: www.globe-chemicals.com
E-mail: info@globe-chemicals.com
VAT no.: DE118704050
Tax ID number: 71/860/01782
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 04.09.1984
Shareholders'
agreement: 04.09.1984
Registered on: 09.10.1984
Commercial Register: Local court 20355 Hamburg
under: HRB
33240
Share capital: EUR 2,900,000.00
Shareholder:
Kesting Holding GmbH
Bellevue 40
D 22301 Hamburg
Legal form: Private
limited company
Share capital: EUR 60,000.00
Share: EUR 1,940,000.00
Registered on: 13.12.2012
Reg. data: 20355 Hamburg,
HRB 125606
Shareholder:
Olaf Busch
D 22083 Hamburg
born: 20.10.1967
Share: EUR 525,000.00
Shareholder:
Herbert Braasch
Hagenau 62
D 22089 Hamburg
born: 09.03.1947
Share: EUR 435,000.00
Manager:
Klaus Wilhelm Kesting
Bellevue 40
D 22301 Hamburg
having sole power of representation
born: 28.12.1943
Profession: Businessman
Marital status: married
Manager:
Herbert Braasch
Hagenau 62
D 22089 Hamburg
having sole power of
representation
born: 09.03.1947
Profession: Businessman
Marital status: married
Manager:
Olaf Busch
D 22083 Hamburg
having sole power of
representation
born: 20.10.1967
Manager:
Kai-Philippe Kesting
D 22083 Hamburg
having sole power of representation
born: 17.06.1976
Nationality: Mexican
Proxy:
Dirk Begier
D 22969 Witzhave
authorized to jointly
represent the company
born: 16.02.1966
Further functions/participations of Klaus
Wilhelm Kesting
(Manager)
Limited partner:
Grundstücksgesellschaft
Quedlinburg UG
(haftungsbeschränkt)
& Co. KG
Humboldtstr. 62
D 22083 Hamburg
Legal form: Ltd.partners.
w.entrepreneur
comp.(ltd.liability)gen.partner
Total cap. EUR 30,680.51
contribution:
Share: EUR 13,654.49
Registered
on: 02.03.1999
Reg. data: 20355 Hamburg, HRA 92760
Limited partner:
P-S-A
Grundstücksgesellschaft Averhoffstr. 3
mbH & Co. KG
Sierichstr. 17
D 22301 Hamburg
Legal form: Ltd partnership
with priv. ltd.
company as
general partner
Total cap. EUR 2,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 07.03.2008
Reg. data: 20355 Hamburg, HRA 107962
Shareholder:
Kesting Holding GmbH
Bellevue 40
D 22301 Hamburg
Legal form: Private
limited company
Share capital: EUR 60,000.00
Share: EUR 51,000.00
Registered
on:
13.12.2012
Reg. data: 20355 Hamburg, HRB 125606
Shareholder:
CYQUEST GmbH
Lokstedter Steindamm 61a
D 22529 Hamburg
Post Box:
60 55 52, D 22250 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 6,200.00
Registered
on: 25.09.2001
Reg. data: 20355 Hamburg, HRB 81461
Shareholder:
Quedlinburg Immobilien UG
(haftungsbeschränkt)
Humboldtstr. 62
D 22083 Hamburg
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR 900.00
Share: EUR 300.00
Registered
on: 10.04.2013
Reg. data: 20355 Hamburg, HRB 127047
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private limited
company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data: 20355 Hamburg, HRB 81436
Manager:
Kesting Holding GmbH
Bellevue 40
D 22301 Hamburg
Legal form: Private
limited company
Share capital: EUR 60,000.00
Registered
on: 13.12.2012
Reg. data: 20355 Hamburg, HRB 125606
Member of the Board of Directors:
Kesting-Fischer
gemeinnützige Stiftungs AG
Curienstr. 2
D 20095 Hamburg
Legal form: Public
limited company
Share capital: EUR 50,000.00
Registered
on: 03.04.2008
Reg. data: 20355 Hamburg, HRB 104799
Further functions/participations of Herbert
Braasch (Manager)
Shareholder:
CYQUEST GmbH
Lokstedter Steindamm 61a
D 22529 Hamburg
Post Box:
60 55 52, D 22250 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 700.00
Registered
on: 25.09.2001
Reg. data: 20355 Hamburg, HRB 81461
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private limited company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data: 20355 Hamburg, HRB 81436
Further functions/participations of Olaf Busch
(Manager)
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private
limited company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data: 20355 Hamburg, HRB 81436
Further functions/participations of
Kai-Philippe Kesting
(Manager)
Shareholder:
Kesting Holding GmbH
Bellevue 40
D 22301 Hamburg
Legal form: Private
limited company
Share capital: EUR 60,000.00
Share: EUR 6,000.00
Registered
on: 13.12.2012
Reg. data: 20355 Hamburg, HRB 125606
Manager:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private
limited company
Share capital: EUR 900,000.00
Registered
on: 24.09.2001
Reg. data:
20355 Hamburg, HRB 81436
Manager:
Kesting Holding GmbH
Bellevue 40
D 22301 Hamburg
Legal form: Private
limited company
Share capital: EUR 60,000.00
Registered
on: 13.12.2012
Reg. data: 20355 Hamburg, HRB 125606
Manager:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Share capital: EUR 383,468.91
Registered
on: 08.02.1965
Reg. data: 20355 Hamburg, HRB 10805
09.10.1984 - 08.05.1988 Globe Specialities
Fabrikationpharmazeutischer Präparate
GmbH
Spohrstr. 2
D 22083 Hamburg
Private limited
company
09.05.1988 - 07.10.1988 Globe Industriechemikalien GmbH (HRB
31043 AG Hamburg)
Spohrstr. 2
D 22083 Hamburg
Private limited
company
07.10.1988 - 21.03.1997 GLOBE Food International GmbH (HRB 52951
AG Hamburg)
Spohrstr. 2
D 22083 Hamburg
Private limited
company
Main industrial sector
46750
Wholesale of chemical products
Limited partner:
Agrar Wildberg Vertriebs-GmbH
& Co. KG
Wächtersbergstr. 55
D 72218 Wildberg
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 53,839.04
contribution:
Share: EUR 2,709.85
Reg. data: 11.12.1997
Local court
70190 Stuttgart
HRA 341050
Shareholder:
Trees for People GmbH
Spohrstr. 2
D 22083 Hamburg
Legal form: Private limited
company
Company Status: active
Share capital: EUR 900,000.00
Share: EUR 900,000.00
Reg. data: 24.09.2001
Local court
20355 Hamburg
HRB 81436
Shareholder:
Kompanie Ultramar Sievers
& Co. G.m.b.H.
Spohrstr. 2
D 22083 Hamburg
Post Box:
11 12 44
Legal form: Private
limited company
Company Status: active
Share capital: EUR 383,468.91
Share: EUR 383,468.91
Reg. data: 08.02.1965
Local court
20355 Hamburg
HRB 10805
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
BALANCE SHEET YEAR: 2012
Type of ownership: Tenant
Address Spohrstr.
2
D 22083 Hamburg
Real Estate of: Klaus
Wilhelm Kesting
Type of ownership: proprietor
Share: 100.00 %
Address Bellevue
40
D 22301 Hamburg
Real Estate of: Herbert
Braasch
Type of ownership: Tenant
Address
Hagenau 62
D 22089
Hamburg
Land register documents were not available.
Principal bank
DEUTSCHE BANK, 20079 HAMBURG
Sort. code: 20070000
BIC: DEUTDEHHXXX
Further bank
COMMERZBANK VORMALS DRESDNER BANK, 20349
HAMBURG
Sort. code: 20080000
BIC: DRESDEFF200
Turnover: 2012 EUR 96,407,866.00
2013 EUR 96,410,000.00
Profit: 2012 EUR 1,528,898.00
further business figures:
Equipment: EUR 120,960.00
Ac/ts receivable: EUR 15,003,716.00
Liabilities: EUR
12,397,772.00
Employees:
29
Balance sheet ratios
01.01.2012 - 31.12.2012
Equity ratio [%]: 32.16
Liquidity ratio: 1.29
Return on total capital
[%]: 7.63
Balance sheet ratios
01.01.2011 - 31.12.2011
Equity ratio [%]: 31.31
Liquidity ratio: 1.44
Return on total capital
[%]: 4.70
Balance sheet ratios
01.01.2010 - 31.12.2010
Equity ratio [%]: 20.12
Liquidity ratio: 0.97
Return on total capital
[%]: 4.46
Balance sheet ratios
01.01.2009 - 31.12.2009
Equity ratio [%]: 21.83
Liquidity ratio: 1.18
Return on total capital
[%]: 1.01
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 20,027,497.57
Fixed assets EUR 1,285,689.77
Intangible assets EUR 230,561.00
Concessions, licences,
rights EUR 230,561.00
Tangible assets EUR 120,959.50
Other tangible assets /
fixtures and
fittings EUR 120,959.50
Financial assets EUR 934,169.27
Shares in participations
/
subsidiaries and the
like EUR 934,169.27
Shares in related
companies EUR 881,459.42
Shares in investee companies EUR 52,709.85
Current assets EUR 18,649,012.20
Stocks EUR 2,917,725.70
Finished goods / work in
progress EUR 2,877,366.24
Advance payments
made EUR 156,529.22
Minus received advance
payments for
orders / installments
for stocks EUR -116,169.76
Accounts receivable EUR 15,003,716.33
Trade debtors EUR 13,827,060.49
Amounts due from related
companies EUR 530,453.88
Other debtors and
assets EUR 646,201.96
Liquid means EUR 727,570.17
Remaining other assets EUR 92,795.60
Accruals (assets) EUR 92,795.60
LIABILITIES EUR 20,027,497.57
Shareholders' equity EUR 6,440,511.04
Capital EUR 2,900,000.00
Subscribed capital
(share capital) EUR 2,900,000.00
Balance sheet profit/loss
(+/-) EUR 3,540,511.04
Balance sheet profit /
loss EUR 3,540,511.04
Provisions EUR 977,914.24
Pension provisions and
comparable
provisions EUR 84,757.24
Other / unspecified
provisions EUR 893,157.00
Liabilities EUR 12,397,772.29
Financial debts EUR 3,721,119.81
Liabilities due to
banks EUR 3,721,119.81
Other liabilities EUR 8,676,652.48
Trade creditors (for IAS
incl. bills
of exchange) EUR 7,613,289.40
Liabililties due to
related companiesEUR
512,695.68
Unspecified other
liabilities EUR 550,667.40
thereof liabilities
from tax /
financial
authorities EUR 235,000.00
Other liabilities EUR 211,300.00
Deferred taxes (not
included under
provisions/liabilities)
EUR 211,300.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 96,407,866.45
Other operating
income EUR 1,445,792.34
Cost of materials EUR 90,210,147.24
Raw materials and
supplies, purchased
goods EUR 85,871,348.02
Purchased services EUR 4,338,799.22
Gross result (+/-) EUR 7,643,511.55
Staff expenses EUR 2,528,637.45
Wages and salaries EUR 2,344,131.53
Social security
contributions and
expenses for pension
plans and
benefits EUR 184,505.92
Total depreciation EUR 80,581.15
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 80,581.15
Other operating
expenses EUR 2,169,331.86
Operating result from
continuing
operations EUR 2,864,961.09
Interest result (+/-) EUR -643,259.52
Interest and similar income EUR 132,814.15
thereof from related
companies EUR 48,000.00
Interest and similar
expenses EUR 776,073.67
thereof paid to related
companies EUR 49,000.00
Financial result
(+/-) EUR -643,259.52
Result from ordinary
operations (+/-) EUR 2,221,701.57
Income tax / refund of
income tax (+/-)EUR -690,217.21
Other taxes / refund of
taxes EUR -2,586.61
Tax (+/-) EUR -692,803.82
Annual surplus / annual
deficit EUR 1,528,897.75
TYPE OF BALANCE SHEET: COMPANY
BALANCE SHEET
FINANCIAL YEAR: 01.01.2011
- 31.12.2011
ASSETS EUR 18,083,502.35
Fixed assets EUR 1,240,693.77
Intangible assets EUR 236,707.00
Concessions, licences,
rights EUR 236,707.00
Tangible assets EUR 69,817.50
Other tangible assets /
fixtures and
fittings EUR 69,817.50
Financial assets EUR 934,169.27
Shares in participations
/
subsidiaries and the
like EUR 934,169.27
Shares in related
companies EUR 881,459.42
Shares in investee
companies EUR 52,709.85
Current assets EUR
16,626,317.50
Stocks EUR 905,109.61
Finished goods / work in
progress EUR 807,391.95
Advance payments
made EUR 174,226.70
Minus received advance
payments for
orders / installments
for stocks EUR -76,509.04
Accounts receivable EUR 15,306,283.12
Trade debtors EUR 14,329,207.31
Amounts due from related
companies EUR 760,520.23
Other debtors and
assets EUR 216,555.58
Liquid means EUR 414,924.77
Remaining other
assets EUR 216,491.08
Accruals (assets) EUR 216,491.08
LIABILITIES EUR 18,083,502.35
Shareholders' equity EUR 5,661,613.29
Capital EUR 2,900,000.00
Subscribed capital
(share capital) EUR 2,900,000.00
Balance sheet profit/loss
(+/-) EUR 2,761,613.29
Balance sheet profit /
loss EUR 2,761,613.29
Provisions EUR 1,371,966.93
Pension provisions and
comparable
provisions EUR 162,992.73
Provisions for taxes EUR 258,355.63
Other / unspecified
provisions EUR 950,618.57
Liabilities EUR 11,049,922.13
Financial debts EUR 6,409,025.59
Liabilities due to
banks EUR 6,409,025.59
Other liabilities EUR 4,640,896.54
Trade creditors (for IAS
incl. bills
of exchange) EUR 4,064,230.48
Liabililties due to
related companiesEUR
299,066.65
Unspecified other
liabilities EUR 277,599.41
thereof liabilities
from tax /
financial
authorities EUR 40,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 84,110,883.28
Other operating income EUR 352,282.71
Cost of materials EUR 78,036,561.55
Raw materials and
supplies, purchased
goods EUR 74,993,560.72
Purchased services EUR 3,043,000.83
Gross result (+/-) EUR 6,426,604.44
Staff expenses EUR 2,422,583.24
Wages and salaries EUR 2,116,724.31
Social security contributions
and
expenses for pension
plans and
benefits EUR 305,858.93
Total depreciation EUR 76,648.93
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 76,648.93
Other operating
expenses EUR 2,142,860.43
Operating result from
continuing
operations EUR 1,784,511.84
Interest result (+/-) EUR -453,154.11
Interest and similar
income EUR 283,279.25
thereof from related
companies EUR 192,000.00
Interest and similar
expenses EUR 736,433.36
thereof paid to related
companies EUR 101,000.00
Financial result
(+/-) EUR -453,154.11
Result from ordinary
operations (+/-) EUR 1,331,357.73
Income tax / refund of
income tax (+/-)EUR -479,113.23
Other taxes / refund of
taxes EUR -1,750.00
Tax (+/-) EUR -480,863.23
Annual surplus / annual
deficit EUR 850,494.50
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.