|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
JOH. ACHELIS & SÖHNE GMBH |
|
|
|
|
Registered Office : |
Langenstr. 30, D 28195 Bremen, Post Box:
10 77 27, D 28077 Bremen |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1826 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Non-Specialized Wholesale Trade |
|
|
|
|
No of Employees : |
266 |
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 |
JOH. ACHELIS & SÖHNE GMBH
Company Status: active
Langenstr. 30
D 28195 Bremen
Post Box:
10 77 27, D 28077 Bremen
Telephone:0421/3367-0
Telefax:
0421/327871
Homepage: www.joh-achelis.de
E-mail:
info@joh-achelis.de
VAT
no.: DE114394805
Tax
ID number: 71 551 06993
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1826
Shareholders'
agreement: 21.08.1998
Registered
on: 25.09.1998
Commercial Register: Local court 28195 Bremen
under: HRB 18263 HB
Share capital: EUR 1,688,500.00
Shareholder:
Lothar Denter
EAK Nairobi
born: 04.08.1956
Share: EUR 629,400.00
Shareholder:
Michael Ruch
D 28816 Stuhr
born: 25.11.1965
Share: EUR 452,500.00
Shareholder:
Dino Stengel
EAT Dar Es Salaam
born: 12.05.1972
Share: EUR 180,400.00
Shareholder:
Kijana Muriuki Mworia
EAK Nairobi
born: 18.05.1977
Share: EUR 153,500.00
Shareholder:
Omega Chang
USA - New York
born: 01.10.1946
Share: EUR 150,900.00
Shareholder:
Kou-Sheng Tseng
TWN Taipei
born: 03.04.1947
Share: EUR 121,800.00
Manager:
Michael Ruch
D 28816 Stuhr
authorized to jointly
represent the company
born: 25.11.1965
Manager:
Lothar Denter
EAK Nairobi
authorized to jointly
represent the company
born: 04.08.1956
Proxy:
Andreas Borck
D 21224 Rosengarten
authorized to jointly
represent the company
Proxy:
Heinz Dyckrup
D 49377 Vechta
authorized to jointly
represent the company
Proxy:
Stefan Knüppel
D 28195 Bremen
authorized to jointly
represent the company
Proxy:
Björn Renders
D 25451 Quickborn
authorized to jointly
represent the company
born: 09.04.1970
Further functions/participations of Michael
Ruch (Manager)
General partner:
Grundstücks-KG Langenstr.
30
Langenstr. 30
D 28195 Bremen
Legal form: Limited
partnership
Total cap. EUR 455,625.00
contribution:
Registered
on: 11.06.2012
Reg. data: 28195 Bremen, HRA 26200 HB
Manager:
Joh. Achelis & Söhne
Verwaltungs- und
Beteiligungsgesellschaft
mbH
Langenstr. 30
D 28195 Bremen
Post Box:
10 77 27, D 28077 Bremen
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 27.01.1970
Reg. data: 28195 Bremen, HRB 6195 HB
Further functions/participations of Lothar
Denter (Manager)
Limited partner:
Grundstücks-KG Langenstr.
30
Langenstr. 30
D 28195 Bremen
Legal form: Limited
partnership
Total cap. EUR 455,625.00
contribution:
Share: EUR 151,875.00
Registered
on: 11.06.2012
Reg. data: 28195 Bremen, HRA 26200 HB
Manager:
Joh. Achelis & Söhne
Verwaltungs- und
Beteiligungsgesellschaft
mbH
Langenstr. 30
D 28195 Bremen
Post Box:
10 77 27, D 28077 Bremen
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 27.01.1970
Reg. data: 28195 Bremen, HRB 6195 HB
05.01.1866 - 25.09.1998 Joh. Achelis & Söhne GmbH & Co
Stavendamm 22
D 28195 Bremen
Ltd partnership with
priv. ltd. company
as general partner
25.09.1998 - 08.02.2001 Joh. Achelis & Söhne GmbH
Stavendamm 22
D 28195 Bremen
Private limited
company
08.02.2001 - 27.02.2013 Joh. Achelis & Söhne GmbH
Otto-Lilienthal-Str.
25
D 28199 Bremen
Private limited company
Main industrial sector
46903
Non-specialized wholesale trade
Shareholder:
Joh. Achelis & Söhne
Verwaltungs- und
Beteiligungsgesellschaft
mbH
Langenstr. 30
D 28195 Bremen
Post Box:
10 77 27
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data: 27.01.1970
Local court
28195 Bremen
HRB 6195 HB
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Langenstr. 30
D 28195 Bremen
Land register documents were not available.
Principal bank
SPARKASSE BREMEN, 28078 BREMEN
Sort. code: 29050101
BIC: SBREDE22XXX
Further bank
BREMER LANDESBANK, 28195 BREMEN
Sort. code: 29050000
BIC: BRLADE22XXX
Turnover: 2012 EUR
34,205,287.00
2013
EUR 34,000,000.00
Profit: 2012 EUR 2,004,933.00
further business figures:
Equipment: *EUR 1,560,000.00
Ac/ts receivable: EUR
12,203,143.00
Liabilities: EUR 10,570,165.00
Employees: 266
-
Trainees:
6
The
business figures marked with an asterisk are estimates based
on
average values in the line of business.
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 53.75
Liquidity ratio: 1.68
Return on total capital [%]: 12.47
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 32.09
Liquidity ratio: 1.17
Return on total capital [%]: 4.19
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 25.94
Liquidity ratio: 1.11
Return on total capital [%]: 2.48
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 23.43
Liquidity ratio: 1.03
Return on total capital [%]: 1.22
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 16,072,135.97
Fixed assets
EUR 3,515,851.39
Intangible assets
EUR 13.00
Tangible assets
EUR 36,563.33
Financial assets
EUR 3,479,275.06
Current assets
EUR 12,554,890.18
Stocks
EUR 312,687.57
Accounts receivable
EUR 12,203,142.88
Liquid
means EUR 39,059.73
Remaining other assets
EUR 1,394.40
Accruals (assets)
EUR 1,394.40
LIABILITIES EUR 16,072,135.97
Shareholders' equity
EUR 5,364,655.28
Capital
EUR 1,688,500.00
Subscribed capital (share capital)
EUR 1,688,500.00
Reserves
EUR 153,500.00
Capital reserves
EUR 153,500.00
Balance sheet profit/loss (+/-)
EUR 3,522,655.28
Profit / loss brought forward
EUR 1,517,721.93
Annual surplus / annual deficit
EUR 2,004,933.35
Provisions
EUR 137,315.37
Liabilities
EUR 10,570,165.32
thereof total due to shareholders
EUR 3,274,109.83
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 4,731,495.58
Staff expenses
EUR 1,696,691.41
Wages and salaries
EUR 1,433,121.96
Social security contributions and
expenses for pension plans and
benefits
EUR 263,569.45
Total depreciation
EUR 14,396.17
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 14,396.17
Other operating expenses
EUR 1,913,636.15
Operating result from continuing
operations
EUR 1,106,771.85
Result from participating interests
(+/-)
EUR 2,001,476.88
Expenses / income from participations EUR 2,001,476.88
Income from related companies
EUR 2,001,476.88
Interest
result (+/-) EUR -690,302.30
Interest and similar income
EUR 72,743.86
thereof from related companies
EUR 72,661.88
Interest and similar expenses
EUR 763,046.16
thereof paid to related companies
EUR 32,784.34
Financial result (+/-)
EUR 1,311,174.58
Result from ordinary operations (+/-)
EUR 2,417,946.43
Income tax / refund of income tax (+/-)EUR -413,013.08
Tax
(+/-)
EUR -413,013.08
Annual surplus / annual deficit
EUR 2,004,933.35
Type
of balance sheet: Company
balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 14,993,801.81
Fixed assets
EUR 3,177,030.03
Intangible assets
EUR 13.00
Concessions, licences, rights
EUR 13.00
Tangible assets
EUR 40,599.11
Other tangible assets / fixtures and
fittings
EUR 40,599.11
Financial assets
EUR 3,136,417.92
Shares in participations /
subsidiaries and the like
EUR 3,136,417.92
Shares in related companies
EUR 3,136,417.92
Current assets
EUR 11,809,064.04
Stocks EUR 193,100.78
Finished goods / work in progress
EUR 77,889.94
Advance payments made
EUR 115,210.84
Accounts receivable
EUR 11,540,654.90
Trade
debtors EUR 7,559,025.43
Amounts due from related companies
EUR 3,950,006.41
Other debtors and assets
EUR 31,623.06
Liquid means
EUR 75,308.36
Remaining other assets
EUR 7,707.74
Accruals (assets)
EUR 7,707.74
LIABILITIES EUR 14,993,801.81
Shareholders' equity
EUR 3,855,432.93
Capital
EUR 1,657,800.00
Subscribed capital (share capital)
EUR 1,657,800.00
Reserves
EUR 522,800.00
Capital reserves EUR 522,800.00
Balance sheet profit/loss (+/-)
EUR 1,674,832.93
Profit / loss brought forward
EUR 1,046,387.20
Annual surplus / annual deficit
EUR 628,445.73
Provisions EUR 252,280.79
Provisions for taxes
EUR 175,385.79
Other / unspecified provisions
EUR 76,895.00
Liabilities
EUR 10,886,088.09
Financial debts
EUR 4,218,536.93
Liabilities due to banks
EUR 4,218,536.93
Other liabilities
EUR 6,667,551.16
Trade creditors (for IAS incl. bills
of exchange) EUR 3,343,251.57
Liabilities from received advance
payments
EUR 430,551.18
Liabilities due to shareholders
EUR 955,660.00
Liabililties
due to related companiesEUR
87,562.21
Unspecified other liabilities
EUR 1,850,526.20
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 26,241,309.13
Other operating income
EUR 255,954.64
Cost of materials
EUR 23,007,459.25
Raw materials and supplies, purchased
goods
EUR 23,007,459.25
Gross result (+/-)
EUR 3,489,804.52
Staff expenses
EUR 1,437,458.90
Wages and salaries
EUR 1,220,068.40
Social security contributions and
expenses for pension plans and
benefits
EUR 217,390.50
Total depreciation
EUR 190,356.41
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 17,195.70
Depreciation on current assets (+/-)
EUR 173,160.71
Other operating expenses
EUR 1,077,100.85
Operating result from continuing
operations
EUR 784,888.36
Result from participating interests
(+/-)
EUR 929,469.76
Expenses / income from participations EUR 929,469.76
Income from related companies
EUR 929,469.76
Interest result (+/-)
EUR -590,134.63
Interest and similar income
EUR 88,121.40
thereof from related companies
EUR 88,121.32
Interest and similar expenses
EUR 678,256.03
thereof paid to related companies
EUR 13,746.06
Other financial result
EUR -106,156.84
Depreciation on financial assets and
marketable securities
EUR 106,156.84
Financial result (+/-)
EUR 233,178.29
Result from ordinary operations (+/-)
EUR 1,018,066.65
Income tax / refund of income tax (+/-)EUR -389,620.92
Tax
(+/-)
EUR -389,620.92
Annual surplus / annual deficit
EUR 628,445.73
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.