|
Report No. : |
296039.2 |
|
Report Date : |
22.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE
CHEMICALS GMBH |
|
|
|
|
Registered Office : |
Spohrstr. 2, D 22083 Hamburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
04.09.1984 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Wholesale
of chemical products Activities of holding companies Other activities of head offices |
|
|
|
|
No. of Employee : |
42 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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, 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 5.2% in 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) 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%. The budget was essentially in balance in 2014. 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 plans to replace nuclear power with renewable energy, which accounted for 27.8% of gross electricity consumption in 2014, up from 9% in 2000. 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.
|
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
EUR 2,900,000.00
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 670,000.00
Shareholder:
Herbert Braasch
Hagenau 62
D 22089 Hamburg
born: 09.03.1947
Share: EUR 290,000.00
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
Dirk Begier
D 22969 Witzhave
authorized to jointly
represent the company
born: 16.02.1966
Further functions/participations of Klaus
Wilhelm Kesting
(Manager)
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
Sierichstr. 17
D 22301 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 - 06.10.1988 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
6420
Activities of holding companies
70109
Other activities of head offices
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: 2014
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: 2013 EUR 95,443,932.00
2014 EUR 89,662,474.00
Profit: 2013 EUR 1,710,172.00
2014 EUR 818,673.00
further business figures:
Equipment: EUR 163,886.00
Ac/ts receivable: EUR 23,715,365.00
Liabilities: EUR 17,814,800.00
Employees:
42
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 28.17
Liquidity ratio: 1.43
Return on total capital [%]: 3.09
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 35.08
Liquidity ratio: 1.31
Return on total capital [%]: 8.11
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 32.16
Liquidity ratio: 1.29
Return on total capital [%]: 7.63
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: 01.01.2014 - 31.12.2014
ASSETS EUR 26,511,292.97
Fixed assets
EUR 1,511,977.88
Intangible assets
EUR 218,379.00
Concessions, licences, rights
EUR 218,379.00
Tangible assets
EUR 163,885.50
Other tangible assets / fixtures and
fittings
EUR 163,885.50
Financial assets
EUR 1,129,713.38
Shares in participations /
subsidiaries and the like
EUR 1,129,713.38
Shares in related companies
EUR 1,077,003.53
Shares in investee companies
EUR 52,709.85
Current assets
EUR 24,910,247.01
Stocks
EUR 13,591.54
Finished goods / work in progress
EUR 2,323,462.86
Advance payments made
EUR 614,415.23
Minus received advance payments for
orders / installments for stocks
EUR -2,924,286.55
Accounts receivable
EUR 23,715,364.79
Trade debtors
EUR 21,887,146.79
Amounts due from related companies
EUR 691,374.06
Other debtors and assets
EUR 1,136,843.94
Liquid means
EUR 1,181,290.68
Remaining other assets
EUR 89,068.08
Accruals (assets) EUR 89,068.08
LIABILITIES EUR 26,511,292.97
Shareholders' equity
EUR 7,469,356.00
Capital
EUR 2,900,000.00
Subscribed capital (share capital)
EUR 2,900,000.00
Balance sheet profit/loss (+/-)
EUR 4,569,356.00
Balance sheet profit / loss
EUR 4,569,356.00
Provisions
EUR 973,837.23
Pension provisions and comparable
provisions
EUR 34,687.33
Provisions for taxes
EUR 327,112.60
Other / unspecified provisions
EUR 612,037.30
Liabilities
EUR 17,814,799.74
Financial debts
EUR 9,596,105.00
Liabilities due to banks
EUR 9,596,105.00
Other liabilities
EUR 8,218,694.74
Trade creditors (for IAS incl. bills
of exchange)
EUR 7,644,930.00
Liabililties due to related companiesEUR 236,693.93
Unspecified other liabilities
EUR 337,070.81
thereof liabilities from tax /
financial authorities
EUR 52,000.00
thereof liabilities from social
security
EUR 1.00
Other liabilities
EUR 253,300.00
Deferred taxes (not included under
provisions/liabilities)
EUR 253,300.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 89,662,473.94
Other operating income
EUR 678,124.42
Cost of materials
EUR 84,100,468.16
Raw materials and supplies, purchased
goods
EUR 79,393,723.58
Purchased services
EUR 4,706,744.58
Gross result (+/-)
EUR 6,240,130.20
Staff expenses
EUR 2,759,572.04
Wages and salaries
EUR 2,473,403.45
Social security contributions and
expenses for pension plans and
benefits
EUR 286,168.59
Total depreciation
EUR 116,876.96
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 116,876.96
Other operating expenses
EUR 1,718,211.32
Operating result from continuing
operations
EUR 1,645,469.88
Interest result (+/-)
EUR -402,189.88
Interest and similar income
EUR 65,183.86
thereof from related companies
EUR 9,000.00
Interest and similar expenses
EUR 467,373.74
thereof paid to related companies
EUR 9,000.00
Financial result (+/-)
EUR -402,189.88
Result from ordinary operations (+/-)
EUR 1,243,280.00
Income tax / refund of income tax (+/-)EUR -424,606.92
Tax
(+/-)
EUR -424,606.92
Annual surplus / annual deficit
EUR 818,673.08
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 21,093,969.60
Fixed assets
EUR 1,519,141.42
Intangible assets
EUR 225,906.00
Concessions,
licences, rights EUR 225,906.00
Tangible assets
EUR 139,066.50
Other tangible assets / fixtures and
fittings
EUR 139,066.50
Financial assets
EUR 1,154,168.92
Shares in participations /
subsidiaries and the like
EUR 1,154,168.92
Shares in related companies
EUR 1,101,459.07
Shares in investee companies
EUR 52,709.85
Current assets
EUR 19,425,305.03
Stocks
EUR 2,740,120.34
Finished goods / work in progress
EUR 2,531,540.03
Advance payments made EUR 553,292.25
Minus received advance payments for
orders / installments for stocks
EUR -344,711.94
Accounts receivable
EUR 16,586,198.00
Trade debtors
EUR 14,938,769.47
Amounts due from related companies
EUR 537,669.56
Other debtors and assets
EUR 1,109,758.97
Liquid means
EUR 98,986.69
Remaining other assets EUR 149,523.15
Accruals (assets)
EUR 149,523.15
LIABILITIES EUR 21,093,969.60
Shareholders' equity
EUR 7,400,682.92
Capital EUR 2,900,000.00
Subscribed capital (share capital)
EUR 2,900,000.00
Balance sheet profit/loss (+/-)
EUR 4,500,682.92
Balance sheet profit / loss
EUR 4,500,682.92
Provisions EUR 972,509.96
Pension provisions and comparable
provisions
EUR 27,032.35
Provisions for taxes
EUR 327,112.60
Other / unspecified provisions
EUR 618,365.01
Liabilities
EUR 12,720,776.72
Financial debts
EUR 3,362,060.52
Liabilities due to banks
EUR 3,362,060.52
Other liabilities
EUR 9,358,716.20
Trade creditors (for IAS incl. bills
of exchange)
EUR 8,221,834.37
Liabililties due to related companiesEUR 639,246.53
Unspecified other liabilities
EUR 497,635.30
thereof liabilities from tax /
financial authorities
EUR 195,000.00
thereof liabilities from social
security
EUR 4,000.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales
EUR 95,443,932.36
Other operating income
EUR 1,061,870.79
Cost of materials
EUR 89,326,130.57
Raw materials and supplies, purchased
goods
EUR 84,635,259.57
Purchased services
EUR 4,690,871.00
Gross result (+/-)
EUR 7,179,672.58
Staff expenses
EUR 2,470,073.50
Wages and salaries
EUR 2,285,039.59
Social security contributions and
expenses for pension plans and
benefits
EUR 185,033.91
Total depreciation
EUR 96,108.23
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 96,108.23
Other operating expenses
EUR 1,661,047.54
Operating result from continuing
operations
EUR 2,952,443.31
Interest result (+/-)
EUR -418,677.36
Interest and similar income
EUR 168,682.91
thereof from related companies
EUR 84,000.00
Interest and similar expenses
EUR 587,360.27
thereof paid to related companies
EUR 2,000.00
Financial result (+/-) EUR -418,677.36
Result from ordinary operations (+/-)
EUR 2,533,765.95
Income tax / refund of income tax (+/-)EUR -823,594.07
Tax
(+/-)
EUR -823,594.07
Annual surplus / annual deficit
EUR 1,710,171.88
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.83 |
|
|
1 |
Rs.103.39 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ASH |
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.