|
Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOENIG LEATHERWEAR GMBH |
|
|
|
|
Registered Office : |
Bierstadter Str. 1, D 65189 Wiesbaden |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishment : |
1981 |
|
|
|
|
Com. Reg. No.: |
HRB 12863 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Wholesale
of Clothing and Footwear. · Wholesale of Leather Goods, Luggage, Giftware and Advertising Articles. |
|
|
|
|
No. of Employees : |
47 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – 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 |
Koenig Leatherwear GmbH
Company Status: active
Bierstadter Str. 1
D 65189 Wiesbaden
Telephone:0611/33340
Telefax:
0611/3334444
Homepage:
www.koenig-leatherwear.de
E-mail: info@koenig-leatherwear.de
DE219110724
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1981
Shareholders'
agreement: 13.11.2001
Registered on: 18.12.2001
Commercial Register: Local court 65189 Wiesbaden
under: HRB
12863
EUR 2,000,000.00
Koenig Grundstücks GmbH
& Co. KG
Bierstadter Str. 1
D 65189 Wiesbaden
Post Box:
36 67, D 65026 Wiesbaden
Legal form: Ltd partnership
with priv. ltd.
company as general
partner
Total cap. EUR 50,000.00
contribution:
Share: EUR 2,000,000.00
Registered on: 27.12.2001
Reg. data: 65189
Wiesbaden, HRA 4911
Manager:
Florian W. König
Kettelerstr. 19
D 65193 Wiesbaden
having sole power of
representation
born: 10.09.1945
Profession: Businessman
Marital status: married
Manager:
Nina Koenig
D 65183 Wiesbaden
having sole power of
representation
born: 23.07.1979
Proxy:
Joachim Ebling
D 55232 Alzey
authorized to jointly
represent the company
born: 21.05.1956
Proxy:
Roland Heil
D 61462 Königstein
authorized to jointly
represent the company
born: 07.04.1949
Further functions/participations of Florian W.
König (Manager)
Limited partner:
Koenig Grundstücks GmbH
& Co. KG
Bierstadter Str. 1
D 65189 Wiesbaden
Post Box:
36 67, D 65026 Wiesbaden
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 50,000.00
contribution:
Share: EUR 35,000.00
Registered
on: 27.12.2001
Reg. data: 65189 Wiesbaden, HRA 4911
Manager:
Koenig Grundstücksverwaltung
GmbH
Bierstadter Str. 1
D 65189 Wiesbaden
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 27.12.2001
Reg. data: 65189 Wiesbaden, HRB 12872
Further functions/participations of Nina
Koenig (Manager)
Limited partner:
Koenig Grundstücks GmbH
& Co. KG
Bierstadter Str. 1
D 65189 Wiesbaden
Post Box:
36 67, D 65026 Wiesbaden
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 50,000.00
contribution:
Share: EUR 7,500.00
Registered
on: 27.12.2001
Reg. data: 65189 Wiesbaden, HRA 4911
14.08.1981 - 31.08.1990 Florian W. König Groß- und Außenhandel
Kaiser-Friedrich-Ring
88
D 65185 Wiesbaden
Sole proprietorship
01.09.1990 - 12.11.2001 Florian W. König Groß- und Außenhandel
Bierstadter Str. 1
D 65189 Wiesbaden
Sole proprietorship
Main industrial sector
4642
Wholesale of clothing and footwear
46493
Wholesale of leather goods, luggage, giftware and advertising articles
47722
Retail sale of leatheware and baggage
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Bierstadter
Str. 1
D 65189 Wiesbaden
Land
register documents were not available.
DEUTSCHE BANK, 65011 WIESBADEN
Sort. code: 51070021
BIC: DEUTDEFF510
UNICREDIT BANK - HYPOVEREINSBANK, 65004
WIESBADEN
Sort. code: 51020186
BIC: HYVEDEMM478
Gross profit or loss:2012 EUR 4,849,788.00
Profit: 2012 EUR -1,015,829.00
Equipment: EUR 137,570.00
Ac/ts receivable: EUR 4,146,012.00
Liabilities: EUR 887,196.00
Employees:
47
-
thereof permanent staff: 31
-
Part-time employees: 11
-
Trainees:
5
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 84.11
Liquidity ratio: 5.97
Return on total capital [%]: -15.28
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 76.19
Liquidity ratio: 2.29
Return on total capital [%]: -0.86
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 76.86
Liquidity ratio: 5.28
Return on total capital [%]: 8.37
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 76.55
Liquidity ratio: 5.89
Return on total capital [%]: 6.20
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 6,651,933.97
Fixed assets
EUR 143,962.00
Intangible assets
EUR 6,392.00
Other / unspecified intangible assetsEUR 6,392.00
Tangible assets
EUR 137,570.00
Other tangible assets / fixtures and
fittings
EUR 137,570.00
Current assets EUR 6,473,395.81
Stocks
EUR 2,312,436.74
Accounts receivable
EUR 4,146,011.90
Other debtors and assets
EUR 4,146,011.90
Liquid means
EUR 14,947.17
Remaining other assets
EUR 34,576.16
Accruals (assets)
EUR 34,576.16
LIABILITIES EUR 6,651,933.97
Shareholders' equity
EUR 5,417,737.98
Capital
EUR 2,000,000.00
Subscribed capital (share capital)
EUR 2,000,000.00
Reserves
EUR 612,012.49
Capital reserves
EUR 612,012.49
Balance sheet profit/loss (+/-)
EUR 2,805,725.49
Profit / loss brought forward
EUR 3,821,554.14
Annual surplus / annual deficit
EUR -1,015,828.65
Provisions
EUR 347,000.00
Liabilities
EUR 887,195.99
Financial debts
EUR 142,684.26
Liabilities due to banks
EUR 142,684.26
Other liabilities
EUR 744,511.73
Liabilities due to investee companiesEUR 178,013.90
Unspecified other liabilities
EUR 566,497.83
Guarantees and other commitments
EUR 368,744.73
Sureties / lendings of
creditworthiness
EUR 368,744.73
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-) EUR 4,849,787.77
Staff expenses
EUR 2,049,733.02
Wages and salaries
EUR 1,778,346.24
Social security contributions and
expenses for pension plans and
benefits
EUR 271,386.78
Total depreciation
EUR 183,392.90
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 183,392.90
Other operating expenses
EUR 3,675,827.86
Operating result from continuing
operations
EUR -1,059,166.01
Interest result (+/-)
EUR 48,509.90
Interest and similar income EUR 82,865.36
thereof from related companies
EUR 67,171.00
Interest and similar expenses
EUR 34,355.46
Financial result (+/-)
EUR 48,509.90
Result from ordinary operations (+/-)
EUR -1,010,656.11
Income tax / refund of income tax (+/-)EUR -290.11
Other taxes / refund of taxes
EUR -4,882.43
Tax
(+/-) EUR -5,172.54
Annual surplus / annual deficit
EUR -1,015,828.65
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 8,429,660.25
Fixed assets
EUR 246,264.00
Intangible assets
EUR 61,842.00
Concessions, licences, rights
EUR 61,842.00
Tangible assets
EUR 184,422.00
Other tangible assets / fixtures and
fittings
EUR 184,422.00
Current assets
EUR 8,163,249.97
Stocks
EUR 5,264,251.73
Other / unspecified stocks
EUR 5,264,251.73
Accounts receivable
EUR 2,879,708.60
Other debtors and assets
EUR 2,879,708.60
Liquid means
EUR 19,289.64
Remaining other assets
EUR 20,146.28
Accruals (assets)
EUR 20,146.28
LIABILITIES EUR 8,429,660.25
Shareholders' equity EUR 6,433,566.63
Capital
EUR 2,000,000.00
Subscribed capital (share capital)
EUR 2,000,000.00
Reserves
EUR 612,012.49
Capital reserves
EUR 612,012.49
Balance sheet profit/loss (+/-)
EUR 3,821,554.14
Profit / loss brought forward
EUR 3,893,774.53
Annual surplus / annual deficit
EUR -72,220.39
Provisions EUR 741,594.00
Other / unspecified provisions
EUR 741,594.00
Liabilities
EUR 1,254,499.62
Financial debts
EUR 387,336.21
Liabilities due to banks
EUR 387,336.21
Other liabilities
EUR 867,163.41
Liabilities due to investee companiesEUR 45,191.84
Unspecified other liabilities
EUR 821,971.57
Guarantees and other commitments
EUR 4,468,163.32
Sureties / lendings of
creditworthiness
EUR 167,080.85
Liability from creation of a security
interest for third parties EUR 4,301,082.47
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 6,658,143.28
Staff expenses
EUR 2,046,176.78
Wages and salaries
EUR 1,782,245.34
Social security contributions and
expenses for pension plans and
benefits
EUR 263,931.44
Total depreciation
EUR 279,523.78
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 279,523.78
Other operating expenses
EUR 4,419,119.02
Operating result from continuing
operations EUR -86,676.30
Interest result (+/-)
EUR 18,782.30
Interest and similar income
EUR 127,024.24
thereof from related companies
EUR 112,007.00
Interest and similar expenses
EUR 108,241.94
Financial result (+/-)
EUR 18,782.30
Result from ordinary operations (+/-)
EUR -67,894.00
Income tax / refund of income tax (+/-)EUR -4,326.39
Tax
(+/-)
EUR -4,326.39
Annual surplus / annual deficit
EUR -72,220.39
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.