MIRA INFORM REPORT

 

 

Report No. :

302814

Report Date :

09.09.2015

 

IDENTIFICATION DETAILS

 

Name :

ERNSTING'S FAMILY GMBH & CO. KG

 

 

Registered Office :

Industriestr. 1 D 48653 Coesfeld

 

 

Country :

Germany

 

 

Date of Incorporation :

1968

 

 

Com. Reg. No.:

HRA 1730

 

 

Legal Form :

Ltd Partnership with Priv. Ltd. Company

 

 

Line of Business :

Retail Sale of Clothing.

 

 

No. of Employee :

Not Available

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

Company name and address

 

ERNSTING'S FAMILY GMBH & CO. KG

 

 Company Status:         active

                                    Industriestr. 1

                                    D 48653 Coesfeld

                                    Telephone:02546/770

                                    Telefax:  02546/772890

Homepage:                   www.ernstings-family.de

E-mail:                          info@ernstings-family.de

 

 Trade name:                 Gina Benotti, Topomini, Topolino, My Home,

                                    van Vaan, Yigga

 

 VAT no.:             DE124462989

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

 LEGAL FORM           Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:      1968

 Begin of business

 activities:                                 26.10.1983

 Registered on:             26.10.1983

 Register of

 companies:                  Local court 48653 Coesfeld

 under:                          HRA 1730

 

 TOTAL CAP. CONTRIBUTION

 

EUR            767,000.00

 

 Limited partner:

                      EHG Service GmbH

                      Industriestr. 1

                      D 48653 Coesfeld

                      Post Box:

                      21 62, D 48644 Coesfeld Lette

                      Legal form: Private limited company

                      Share capital:     EUR         25,600,000.00

                      Share:             EUR            767,000.00

                      Registered on: 17.09.1993

                      Reg. data: 48653 Coesfeld, HRB 2035

 General partner:

                      Ernsting's family Geschäftsführungs-GmbH

                      Industriestr. 1

                      D 48653 Coesfeld

                      Legal form: Private limited company

                      Share capital:     EUR             26,000.00

                      Registered on: 23.11.1982

                      Reg. data: 48653 Coesfeld, HRB 1451

 

 Shareholder:

                      EHG Service GmbH

                      Industriestr. 1

                      D 48653 Coesfeld

                      Post Box:

                      21 62, D 48644 Coesfeld Lette

                      Legal form: Private limited company

                      Share capital:     EUR         25,600,000.00

                      Share:             EUR             26,000.00

                      Registered on: 17.09.1993

                      Reg. data: 48653 Coesfeld, HRB 2035

 Manager:

                      Johannes Ehling

                      Kalvarienbergstr. 14a

                      D 82340 Feldafing

                      born: 02.02.1967

                      Marital status: married

 Manager:

                      Horst Heinrich Beeck

                      Am Wilbert 66

                      D 40885 Ratingen

                      born: 23.06.1966

 Manager:

                      Oliver Haller

                      Birkenweg 6

                      D 48249 Dülmen

                      born: 05.12.1968

 Manager:

                      Dagmar Heuer

                      Lilienbeck 17a

                      D 48727 Billerbeck

                      born: 15.08.1955

                      Marital status: unknown

 Proxy:

                      Holger Henning

                      D 48301 Nottuln

                      authorized to jointly represent the company

                      born: 16.04.1969

 Proxy:

                      Markus Kramer

                      D 45701 Herten

                      authorized to jointly represent the company

                      born: 22.04.1972

 Proxy:

                      Daniel Köster

                      D 48143 Münster

                      authorized to jointly represent the company

                      born: 27.08.1976

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 47710   Retail sale of clothing

 

 

 BRANCHES AND FACTORIES

 

 Works:

                      Ernsting's family GmbH & Co. KG

                      Hugo-Ernsting-Platz

                      D 48653 Coesfeld

 Branch:

                      Ernsting's family GmbH & Co. KG

                      Kurt-Ernsting-Str. 1

                      OT Klieken

                      D 06869 Coswig

                      TEL.: 034903/5020

                      FAX.: 034903/5021890

 Branch:

                      Ernsting's family GmbH & Co. KG

                      Industriestr. 29

                      D 21493 Schwarzenbek

 

 

 FINANCIAL INFORMATION

 

 Payment experience:  cash discount/within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Industriestr. 1

                                    D 48653 Coesfeld

 

 Type of ownership:       Tenant

 Address                       Hugo-Ernsting-Platz

                                    D 48653 Coesfeld

 

 Real Estate of:             Ernsting's family Geschäftsführungs-GmbH

 Type of ownership:       Tenant

 Address                        Industriestr. 1

                        D 48653 Coesfeld

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 SPARKASSE WESTMÜNSTERLAND, 48653 COESFELD

 Sort. code: 40154530

 BIC: WELADE3WXXX, IBAN: DE16401545300059066365

 

 Further bank

 COMMERZBANK VORMALS DRESDNER BANK, 48135 MÜNSTER, WESTF

 Sort. code: 40080040

 BIC: DRESDEFF400, IBAN: DE66400800400608585400

 

 

 FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 

 The number of employees is not known.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.97

UK Pound

1

Rs.94.97

Euro

1

Rs.74.43

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.