MIRA INFORM REPORT

 

 

Report No. :

354170

Report Date :

14.12.2015

 

IDENTIFICATION DETAILS

 

Name :

INTERSTUHL BÜROMÖBEL GMBH & CO. KG

 

 

Registered Office :

Brühlstr. 21 D 72469 Meßstetten

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

1967

 

 

Com. Reg. No.:

HRA 401285

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :
  • Manufacture of metal products.
  • Manufacture of office furniture.
  • Manufacture of other furniture .

 

 

No. of Employee :

650

 

 

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

Comapny name and address

 

INTERSTUHL BÜROMÖBEL GMBH & CO. KG

 

 Company Status:      active

                      Brühlstr. 21

                      D 72469 Meßstetten

                      Telephone:07436/871-0

                      Telefax:  07436/871-110

                      Homepage: www.interstuhl.de

                      E-mail:   info@interstuhl.de

 

 VAT no.:             DE144834860

 Tax ID number:       53088/03701

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Sumamry

 

 LEGAL FORM              Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:      1967

 Registered on:             28.01.1992

 Register of

 companies:                  Local court 70190 Stuttgart

 under:                          HRA 401285

 

 

 Total cap. Contribution

 

EUR          4,560,000.00

 

 Limited partner:

                      Joachim Link

                      D 72469 Meßstetten

                      born: 13.04.1967 in Balingen

                      Share:             EUR          1,618,800.00

 Limited partner:

                      Helmut Link

                      D 72469 Meßstetten

                      born: 31.03.1969 in Balingen

                      Share:             EUR          1,618,800.00

 Limited partner:

                      Werner Link

                      D 72469 Meßstetten

                      born: 27.04.1941 in Tieringen

                      Share:             EUR          1,185,600.00

 Limited partner:

                      Lenore Link

                      D 72469 Meßstetten

                      born: 26.02.1945 in Tieringen

                      Share:             EUR            136,800.00

 General partner:

                      Interstuhl Büromöbel Verwaltungsgesellschaft

                      mit beschränkter Haftung

                      Brühlstr. 21

                      D 72469 Meßstetten

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Registered on: 07.02.1996

                      Reg. data: 70190 Stuttgart, HRB 401015

 

 Shareholder:

                      Joachim Link

                      D 72469 Meßstetten

                      born: 13.04.1967 in Balingen

                      Share:             EUR             17,750.00

 Shareholder:

                      Helmut Link

                      D 72469 Meßstetten

                      born: 31.03.1969 in Balingen

                      Share:             EUR             17,750.00

 Shareholder:

                      Werner Link

                      D 72469 Meßstetten

                      born: 27.04.1941 in Tieringen

                      Share:             EUR             13,000.00

 Shareholder:

                      Lenore Link

                      D 72469 Meßstetten

                      born: 26.02.1945 in Tieringen

                      Share:             EUR              1,500.00

 Manager:

                      Werner Link

                      D 72469 Meßstetten

                      born: 27.04.1941 in Tieringen

                      Profession: Businessman

                      Marital status: married

 Manager:

                      Joachim Link

                      D 72469 Meßstetten

                      having sole power of representation

                      born: 13.04.1967 in Balingen

 Manager:

                      Helmut Link

                      D 72469 Meßstetten

                      having sole power of representation

                      born: 31.03.1969 in Balingen

 Proxy:

                      Lenore Link

                      D 72469 Meßstetten

                      having sole power of representation

                      born: 26.02.1945 in Tieringen

                      Marital status: married

 Proxy:

                      Michael Fehsenfeld

                      Am Försterweg 75

                      D 15344 Strausberg

                      authorized to jointly represent the company

                      born: 29.05.1965

 Proxy:

                      Susanna Martin de Vidales

                      D 72469 Meßstetten

                      authorized to jointly represent the company

                      born: 14.09.1972 in Madrid

 Proxy:

                      Eckhard nrost

                      Schwarzwaldstr. 53

                      D 72336 Balingen

                      authorized to jointly represent the company

                      born: 25.09.1966

 Proxy:

                      Harald Morgenstern

                      D 72768 Reutlingen

                      authorized to jointly represent the company

                      born: 20.05.1964

 Proxy:

                      Paul Schreijäg

                      D 72336 Balingen

                      authorized to jointly represent the company

                      born: 26.08.1965

 Proxy:

                      Rosine Hölsch

                      D 72406 Bisingen

                      authorized to jointly represent the company

                      born: 26.03.1964

 Proxy:

                      Hartmut Böhlefeld

                      D 78089 Unterkirnach

                      authorized to jointly represent the company

                      born: 03.03.1966

 

 

 COMPANY HISTORY

 

 08.01.1972 - 06.02.1996  F. Biedermann GmbH u. Co.

                          Kommanditgesellschaft

                          Neue Rottenburger Str. 37

                          D 72379 Hechingen

                          Ltd partnership with priv. ltd. company

                          as general partner

 

 

 BUSINESS ACTIVITIES

 

 Sectors

 25993   Manufacture of metal products n.e.c.

31011   Manufacture of office furniture

31099   Manufacture of other furniture n.e.c.

46650   Wholesale of office furniture

 

 

 FINANCIAL INFORMATION

 

 Payment experience:  without complaints

 

 Negative information:We have no negative information at hand.

 

Balance sheet year:  2014

 

 

 PMI:                 No significant / relevant payment experience

                      information pertaining to the company

                      inquired upon is shown in the Deutscher

                      Debitoren Monitor (DDMonitor).

 

 

 REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Brühlstr. 21

                      D 72469 Meßstetten

 

 Real Estate of:      Interstuhl Büromöbel Verwaltungsgesellschaft

                      mit beschränkter Haftung

 Type of ownership:   Tenant

 Address              Brühlstr. 21

                      D 72469 Meßstetten

 

 Land register documents were not available.

 

 

 BANKERS

 

 COMMERZBANK, 72302 BALINGEN

 Sort. code: 65341204, Account no.: 1275494

 BIC: COBADEFFXXX, IBAN: DE22653412040127549400

 VOLKSBANK ALBSTADT, 72424 ALBSTADT, WÜRTT

 Sort. code: 65390120, Account no.: 340072008

 BIC: GENODES1EBI, IBAN: DE82653901200340072008

 POSTBANK, 70148 STUTTGART

 Sort. code: 60010070, Account no.: 62427708

 BIC: PBNKDEFFXXX, IBAN: DE69600100700062427708

 SPARKASSE ZOLLERNALB, 72334 BALINGEN

 Sort. code: 65351260, Account no.: 79025401

 BIC: SOLADES1BAL, IBAN: DE79653512600079025401

 LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144

 STUTTGART

 Sort. code: 60050101, Account no.: 4763398

 BIC: SOLADEST600, IBAN: DE29600501010004763398

 

 

 FINANCIAL FIGURES

 

 Turnover:            2014               EUR        122,201,342.00

 Profit:              2014               EUR          4,610,476.00

 Equipment:                              EUR          2,559,994.00

 Ac/ts receivable:                       EUR         20,861,298.00

 Liabilities:                            EUR         43,228,835.00

 Total numbers of vehicles:                                    130

 Employees:                                                    650

 - Trainees:                                                    41

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 34.61

 Liquidity ratio:                   0.68

 Return on total capital [%]:       7.58

 

 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

 Origin of the present

 balance sheet:       self-disclosure

 

 Financial year:      01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR         60,792,089.22

  Fixed assets                           EUR         26,376,386.82

   Intangible assets                     EUR            183,647.00

    Concessions, licences, rights        EUR            183,647.00

   Tangible assets                       EUR         25,883,025.18

    Land / similar rights                EUR         11,563,734.55

    Plant / machinery                    EUR         11,016,802.19

    Other tangible assets / fixtures and

    fittings                             EUR          2,559,994.00

    Advance payments made / construction

    in progress                          EUR            742,494.44

   Financial assets                      EUR            309,714.64

    Shares in participations /

    subsidiaries and the like            EUR            159,389.56

     Shares in related companies         EUR            159,388.56

     Shares in investee companies        EUR                  1.00

    Securities included in fixed assets  EUR                325.08

    Other loans                          EUR            150,000.00

  Current assets                         EUR         34,324,266.71

   Stocks                                EUR         12,082,266.60

    Raw materials, consumables and

    supplies                             EUR          7,762,204.00

    Finished goods / work in progress    EUR          3,879,912.00

    Advance payments made                EUR            440,150.60

   Accounts receivable                   EUR         20,861,298.33

    Trade debtors                        EUR         17,907,631.09

    Amounts due from related companies   EUR          1,511,407.49

    Other debtors and assets             EUR          1,442,259.75

   Liquid means                          EUR          1,380,701.78

  Remaining other assets                 EUR             91,435.69

   Accruals (assets)                     EUR             91,435.69

 

 LIABILITIES                             EUR         60,792,089.22

  Shareholders' equity                   EUR          9,659,819.58

   Capital                               EUR          4,560,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR          4,560,000.00

     Limited partner's  capital, fixed

     capital, capital account I          EUR          4,560,000.00

   Reserves                              EUR          5,099,819.58

    Reserves for business partnerships   EUR          5,099,819.58

  Items between shareholders' equity and

  debt capital                           EUR             19,544.00

   Allowances / bonuses                  EUR             19,544.00

  Provisions                             EUR          6,848,024.55

   Pension provisions and comparable

   provisions                            EUR            280,504.00

   Provisions for taxes                  EUR            431,353.00

   Other / unspecified provisions        EUR          6,136,167.55

  Liabilities                            EUR         43,228,835.04

   Financial debts                       EUR         23,004,669.55

    Liabilities due to banks             EUR         23,004,669.55

   Other liabilities                     EUR         20,224,165.49

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          5,012,969.73

    Liabilities from received advance

    payments                             EUR            721,359.61

    Liabilities due to shareholders      EUR         11,373,553.76

    Liabililties due to related companiesEUR             23,739.76

    Unspecified other liabilities        EUR          3,092,542.63

     thereof liabilities from tax /

     financial authorities               EUR          1,604,936.15

     thereof liabilities from social

     security                            EUR             87,842.63

  Other liabilities                      EUR          1,035,866.05

   Deferred taxes (not included under

   provisions/liabilities)               EUR          1,035,866.05

 

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

 Code (HGB)

 

  Sales                                  EUR        122,201,341.69

  Inventory change + own costs (+/-)     EUR            337,292.00

   Inventory change (+/-)                EUR            337,292.00

  Other operating income                 EUR          1,702,378.36

  Cost of materials                      EUR         55,106,143.89

   Raw materials and supplies, purchased

   goods                                 EUR         51,783,636.67

   Purchased services                    EUR          3,322,507.22

  Gross result (+/-)                     EUR         69,134,868.16

  Staff expenses                         EUR         34,906,764.99

   Wages and salaries                    EUR         29,703,352.78

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          5,203,412.21

  Total depreciation                     EUR          4,813,339.39

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          4,813,339.39

  Other operating expenses               EUR         22,451,109.87

  Operating result from continuing

  operations                             EUR          6,963,653.91

  Interest result (+/-)                  EUR         -1,400,129.60

   Interest and similar income           EUR             60,605.84

   Interest and similar expenses         EUR          1,460,735.44

  Other financial result                 EUR             11,357.04

   Income from securities and loans from

   financial assets                      EUR             11,467.12

   Depreciation on financial assets and

   marketable securities                 EUR                110.08

  Financial result (+/-)                 EUR         -1,388,772.56

  Result from ordinary operations (+/-)  EUR          5,574,881.35

  Income tax / refund of income tax (+/-)EUR           -907,852.72

  Other taxes / refund of taxes          EUR            -56,553.07

  Tax (+/-)                              EUR           -964,405.79

  Annual surplus / annual deficit        EUR          4,610,475.56

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.79

UK Pound

1

Rs.101.10

Euro

1

Rs.73.10

EUR

1

Rs.73.48

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

ANK

 

 

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.