|
Report No. : |
304789 |
|
Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SASOL |
|
|
|
|
Registered Office : |
Anckelmannsplatz 1, D 20537 Hamburg, Post Box 26 18 05, D 20508
Hamburg |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
05.12.2000 |
|
|
|
|
Com. Reg. No.: |
HRB 78475 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Engaged in manufacturing
detergents and cleaning agents, paints and coatings, cosmetics and
pharmaceutical products as well as catalysts, high-performance abrasives and
plastic additives Engaged in producing
organic and inorganic chemical products |
|
|
|
|
No of Employees : |
1,400 |
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 : |
Slow orrect |
|
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 |
Sasol Germany GmbH
Anckelmannsplatz 1
D 20537 Hamburg
Post Box:
26 18 05, D 20508 Hamburg
Telephone: 040/63684-1000
Telefax: 040/63684-3700
Homepage: www.sasolgermany.de
E-mail: info@sasol.com
active
DE813120753
27/564/00005
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 05.12.2000
Shareholders'
agreement: 05.12.2000
Registered on: 11.01.2001
Commercial Register: Local
court 20355 Hamburg
under: HRB 78475
Share capital:
EUR 70,000,000.00
Sasol Performance Chemicals GmbH
Anckelmannsplatz 1
D 20537 Hamburg
Legal form: Private limited company
Share capital: EUR 5,000,000.00
Share: EUR 70,000,000.00
Registered on: 11.01.2001
Reg. data: 20355 Hamburg, HRB 78474
Control and profit transfer agreement
Dr. Kay Luttmann
Seeschwalbenweg 9
D 25541 Brunsbüttel
authorized to jointly represent the company
born: 01.10.1958
Marital status: unknown
Manager:
Arno
Klegin
D 20095 Hamburg
authorized to jointly represent the company
born:
20.02.1966
Profession: Businessman
Marital status: unknown
Dr. Jens Straatmann
Hindenburgstr. 87
D 22297 Hamburg
born: 30.03.1965
Reiner Hoffmann
D 40476 Düsseldorf
Klaus Diblitz
D 22869 Schenefeld
born: 05.09.1961
Marital status: unknown
Member of the
Supervisory Board:
Dr. Thomas Lüdemann
Hallstr. 14
D 25462 Rellingen
born: 01.08.1958
Member of the
Supervisory Board:
Walter Heidtmann
Zum Mühlenbach 8
D 45964 Gladbeck
born: 05.04.1953
Heiko Jeck
Spaldingstr. 49
D 20097 Hamburg
Profession: Solicitor
Representative of
the Employees within the Supervisory Board:
Edgar Ludewig
D 25541 Brunsbüttel
Representative of
the Employees within the Supervisory Board:
Patricio Guillermo Graham Viljoen
D 61381 Friedrichsdorf
born: 19.03.1960
Representative of
the Employees within the Supervisory Board:
Ralf Erkens
D 20095 Hamburg
Profession: Trade unionist
Marital status: unknown
Representative of
the Employees within the Supervisory Board:
Birgit Kuhlhoff
D 45768 Marl
Representative of
the Employees within the Supervisory Board:
Clemens Schröder
D 23863 Kayhude
Marital status: unknown
Francois Conradie
D 25421 Pinneberg
authorized to jointly represent the company
born: 29.09.1969
Profession: Businessman
Proxy:
Thorsten Stahl
D
24568 Kaltenkirchen
authorized to jointly represent the company
born:
23.01.1962
Proxy:
Dierk
Dieter Babinsky
Lottbekkamp 12
D
22395 Hamburg
authorized to jointly represent the company
born:
11.09.1961
Profession: Solicitor
Proxy:
Rüdiger Urbahns
D
22359 Hamburg
authorized to jointly represent the company
born:
19.03.1969
Proxy:
Dr.
Helmut Glaser
D
45879 Gelsenkirchen
authorized to jointly represent the company
born:
21.09.1956
Proxy:
Dr.-Ing. Thomas Tebroke
Burenstock 15
D
48653 Coesfeld
authorized to jointly represent the company
born:
23.10.1962
Proxy:
Dr.
Burkhard Klopries
D
46236 Bottrop
authorized to jointly represent the company
born:
11.10.1954
Proxy:
Dr.
Stephan Schiffler
D
25541 Brunsbüttel
authorized to jointly represent the company
born: 12.05.1957
Proxy:
Dr.
Reiner Volbers
D
20537 Hamburg
authorized to jointly represent the company
born:
26.12.1958
Proxy:
Dr. Stefan
Maedje
D
24558 Henstedt-Ulzburg
authorized to jointly represent the company
born:
21.04.1965
Proxy:
Dr.
Thomas Rappert
D
20095 Hamburg
authorized to jointly
represent the company
born:
28.06.1963
Proxy:
Patricio Guillermo Graham Viljoen
D
61381 Friedrichsdorf
authorized to jointly represent the company
born:
19.03.1960
Proxy:
Jörn
Ladehoff
Westerfeldweg 15
D
25704 Wolmersdorf
authorized to jointly represent the company
born: 10.10.1961
Proxy:
Christian Schindler
D
20095 Hamburg
authorized to jointly represent the company
born:
08.01.1967
Profession: Solicitor
Marital status: unknown
Proxy:
Joseph
Michael Schwalbach
D
40210 Düsseldorf
authorized to jointly represent the company
born:
23.03.1967
Further
functions/participations of Arno Klegin (Manager)
Proxy:
Sasol
Chemie Verwaltungs GmbH
Anckelmannsplatz 1
D
20537 Hamburg
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 12.01.2001
Reg.
data: 20355 Hamburg, HRB 78486
Proxy:
Sasol
Chemical Verwaltungs-GmbH
Anckelmannsplatz 1
D
20537 Hamburg
Legal
form: Private limited company
Share
capital: EUR 25,600.00
Registered
on: 04.12.2001
Reg.
data: 20355 Hamburg, HRB 79854
Proxy:
Sasol
Solvents Germany GmbH
Anckelmannsplatz 1
D
20537 Hamburg
Post Box:
26 18
16, D 20508
Legal
form: Private limited company
Share
capital: EUR 20,000,000.00
Registered
on: 01.12.2005
Reg.
data: 20355 Hamburg, HRB 95606
11.01.2001 -
28.02.2001 "Ad acta"
Dreihundertsechsundsiebzigste
Vermögensverwaltungsgesellschaft mbH
Curienstr. 2
D 20095 Hamburg
Private limited
company
01.03.2001 -
01.04.2001 Sasol Germany GmbH
Überseering 40
D 22297 Hamburg
Private limited company
26.10.2011 -
26.05.2014 Member of the Supervisory
Board
Fleetwood Rawstorne Grobler
D
20537 Hamburg
26.10.2011 -
27.06.2013 Member of the Supervisory
Board
Alan Field
D
21224 Rosengarten
26.10.2011 -
01.02.2013 Member of the Supervisory
Board
Thomas Francis O'Brien
D
61348 Bad Homburg
14.02.2008 -
07.06.2012 Manager
Essimari Kairisto
D
41352 Korschenbroich
Main industrial sector
·
Engaged in
manufacturing detergents and cleaning agents, paints and coatings, cosmetics and
pharmaceutical products as well as catalysts, high-performance abrasives and
plastic additives
Engaged in producing
organic and inorganic chemical products
Works:
Sasol
Germany GmbH
Paul-Baumann-Str. 1
D
45772 Marl
TEL.:
02365/4908
FAX.:
02365/492000
Branch:
Sasol
Germany GmbH
Arthur-Imhausen-Str. 92
D 58453
Witten
TEL.:
02302/925313
Branch:
Sasol
Germany GmbH
Fritz-Staiger-Str. 15
D
25541 Brunsbüttel
TEL.:
04852/392-0
FAX.:
04852/392-300
Payment experience: Slow but Correct
Negative information: We
have no negative information at hand.
Balance sheet year: 2013/2014
Type of ownership: Tenant
Address Anckelmannsplatz 1
D 20537 Hamburg
Land register documents were not available.
Principal bank
COMMERZBANK VORMALS DRESDNER BANK, 33502 BIELEFELD
Sort. code: 48080020
BIC: DRESDEFF480
Further bank
DEUTSCHE BANK, 20079 HAMBURG
Sort. code: 20070000, Account no.: 0606848
BIC: DEUTDEHHXXX, IBAN: DE57200700000060684800
Turnover: 2012/2013 EUR 1,281,025,941.00
2013/2014 EUR 1,232,827,304.00
Profit: 2012/2013 EUR 77,443,508.00
2013/2014 EUR 93,344,912.00
further business figures:
Equipment: EUR 9,572,469.00
Ac/ts receivable: EUR 243,947,427.00
Liabilities: EUR 242,020,699.00
Real
estate of the firm:
EUR 19,611,052.00
Employees:
1,400
Control and profit
transfer agreement to:
Sasol Performance Chemicals GmbH
Anckelmannsplatz 1
D 20537 Hamburg
Balance sheet ratios 01.07.2013 - 30.06.2014
Equity ratio [%]: 27.04
Liquidity ratio: 1.44
Return on total capital [%]: 18.49
Balance sheet ratios 01.07.2012 - 30.06.2013
Equity ratio [%]: 21.35
Liquidity ratio: 1.34
Return on total capital [%]: 17.40
Balance sheet ratios 01.07.2011 - 30.06.2012
Equity
ratio [%]: 19.69
Liquidity ratio: 1.54
Return on total capital [%]: 22.93
Balance sheet ratios 01.07.2010 - 30.06.2011
Equity ratio [%]: 21.03
Liquidity ratio: 1.52
Return
on total capital [%]: 16.93
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: 01.07.2013 - 30.06.2014
ASSETS EUR 566,627,363.00
Fixed assets
EUR 187,063,391.00
Intangible assets
EUR 2,262,003.00
Concessions, licences, rights
EUR 2,262,003.00
Tangible assets
EUR 179,412,377.00
Land / similar rights
EUR 19,611,052.00
Plant / machinery
EUR 90,468,818.00
Other tangible assets / fixtures and
fittings
EUR 9,572,469.00
Advance payments made / construction
in progress
EUR 59,760,038.00
Financial assets EUR
5,389,011.00
Shares in participations /
subsidiaries and the like
EUR 4,523.00
Shares in related companies
EUR 4,523.00
Securities included in fixed assets
EUR 5,250,422.00
Other loans
EUR 134,066.00
Current assets
EUR 377,703,022.00
Stocks
EUR 105,821,233.00
Raw materials, consumables and
supplies EUR 37,768,842.00
Finished goods / work in progress
EUR 68,052,391.00
Accounts receivable
EUR 243,947,427.00
thereof total due from shareholders
EUR 61,735,000.00
Trade debtors EUR 136,043,928.00
Amounts due from related companies
EUR 97,657,458.00
Other debtors and assets
EUR 10,246,041.00
Liquid means
EUR 27,934,362.00
Remaining other assets
EUR 1,860,950.00
Accruals (assets)
EUR 1,860,950.00
LIABILITIES EUR 566,627,363.00
Shareholders' equity
EUR 110,025,000.00
Capital
EUR 70,000,000.00
Subscribed capital (share capital)
EUR 70,000,000.00
Reserves
EUR 40,025,000.00
Capital reserves EUR 40,025,000.00
Items between shareholders' equity and
debt capital
EUR 1,246,435.00
Allowances / bonuses
EUR 1,246,435.00
Provisions
EUR 210,725,229.00
Pension provisions and comparable
provisions
EUR 148,407,638.00
Other / unspecified provisions
EUR 62,317,591.00
Liabilities
EUR 242,020,699.00
thereof total due to shareholders
EUR 87,590,000.00
Other liabilities
EUR 242,020,699.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 142,175,944.00
Liabilities from received advance
payments
EUR 794,865.00
Liabililties due to related companiesEUR 95,230,109.00
Unspecified other liabilities
EUR 3,819,781.00
thereof
liabilities from tax /
financial authorities
EUR 2,154,000.00
Other liabilities
EUR 2,610,000.00
Deferrals (liabilities)
EUR 2,610,000.00
Guarantees and other commitments
EUR 35,000,000.00
Other guarantees and other commitmentsEUR 35,000,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 1,232,827,304.00
Inventory change + own costs (+/-)
EUR -894,389.00
Inventory change (+/-)
EUR -1,299,200.00
Capitalised own costs
EUR 404,811.00
Other operating income
EUR 43,660,753.00
Cost of materials
EUR 893,492,984.00
Raw materials and supplies, purchased
goods
EUR 831,713,810.00
Purchased services
EUR 61,779,174.00
Gross
result (+/-) EUR 382,100,684.00
Staff expenses
EUR 147,913,934.00
Wages and salaries
EUR 118,959,057.00
Social security contributions and
expenses for pension plans and
benefits
EUR 28,954,877.00
Total depreciation
EUR 23,723,430.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 23,723,430.00
Other operating expenses
EUR 108,479,746.00
Operating result from continuing
operations
EUR 101,983,574.00
Result from participating interests
(+/-) EUR 2,531.00
Expenses / income from participations EUR 2,531.00
Income from related companies
EUR 2,531.00
Interest result (+/-)
EUR -8,478,591.00
Interest and similar income
EUR 81,566.00
Interest and similar expenses
EUR 8,560,157.00
Other financial result
EUR 85,623.00
Income from securities and loans from
financial assets
EUR 85,623.00
Financial result (+/-)
EUR -8,390,437.00
Result from ordinary operations (+/-)
EUR 93,593,137.00
Expenses for transfer of profits to a
parent company EUR 93,344,912.00
Other taxes / refund of taxes
EUR -248,225.00
Tax
(+/-)
EUR -248,225.00
Annual surplus / annual deficit
EUR 0.00
Type
of balance
sheet: Company balance sheet
Financial year: 01.07.2012 - 30.06.2013
ASSETS EUR 533,922,627.00
Fixed assets
EUR 134,144,027.00
Intangible assets EUR 2,046,066.00
Concessions, licences, rights
EUR 1,739,326.00
Advance payments for intang. assets
EUR 306,740.00
Tangible assets
EUR 127,939,181.00
Land
/ similar rights EUR 13,912,124.00
Plant / machinery
EUR 54,080,445.00
Other tangible assets / fixtures and
fittings
EUR 8,865,853.00
Advance payments made / construction
in progress
EUR 51,080,759.00
Financial assets
EUR 4,158,780.00
Shares in participations /
subsidiaries and the like
EUR 4,523.00
Shares in related companies EUR 4,523.00
Securities included in fixed assets
EUR 3,967,255.00
Other loans
EUR 187,002.00
Current assets
EUR 398,781,029.00
Stocks
EUR 105,014,787.00
Raw materials, consumables and
supplies
EUR 30,324,916.00
Finished goods / work in progress
EUR 74,689,871.00
Accounts receivable
EUR 282,443,449.00
Amounts due from shareholders
EUR 88,819,000.00
Trade debtors
EUR 146,664,036.00
Amounts due from related companies
EUR 36,650,241.00
Other debtors and assets
EUR 10,310,172.00
Liquid means
EUR 11,322,793.00
Remaining other assets
EUR 997,571.00
Accruals (assets)
EUR 997,571.00
LIABILITIES EUR 533,922,627.00
Shareholders' equity
EUR 110,025,000.00
Capital
EUR 70,000,000.00
Subscribed capital (share capital) EUR
70,000,000.00
Reserves
EUR 40,025,000.00
Capital reserves
EUR 40,025,000.00
Items between shareholders' equity and
debt capital
EUR 1,701,115.00
Allowances / bonuses
EUR 1,701,115.00
Provisions
EUR 190,151,640.00
Pension provisions and comparable
provisions
EUR 133,954,513.00
Other
/ unspecified provisions EUR 56,197,127.00
Liabilities
EUR 229,289,872.00
thereof total due to shareholders
EUR 72,982,000.00
Other liabilities
EUR 229,289,872.00
Trade creditors (for IAS incl. bills
of exchange)
EUR 141,810,147.00
Liabilities from received advance
payments
EUR 1,093,670.00
Liabililties due to related companiesEUR 83,453,464.00
Unspecified other liabilities
EUR 2,932,591.00
thereof liabilities from tax /
financial authorities
EUR 1,802,000.00
Other liabilities
EUR 2,755,000.00
Deferrals (liabilities)
EUR 2,755,000.00
Guarantees and other commitments
EUR 35,000.00
Other guarantees and other commitmentsEUR 35,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 1,281,025,941.00
Inventory change + own costs (+/-)
EUR 12,148,115.00
Inventory change (+/-)
EUR 11,900,732.00
Capitalised
own costs EUR 247,383.00
Other operating income
EUR 40,597,644.00
Cost of materials
EUR 981,376,266.00
Raw materials and supplies, purchased
goods EUR 928,867,694.00
Purchased services
EUR 52,508,572.00
Gross result (+/-)
EUR 352,395,434.00
Staff expenses
EUR 134,320,646.00
Wages
and salaries EUR 109,202,469.00
Social security contributions and
expenses for pension plans and
benefits
EUR 25,118,177.00
Total depreciation
EUR 19,393,092.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 19,393,092.00
Other operating expenses
EUR 111,750,527.00
Operating result from continuing
operations
EUR 86,931,169.00
Result from participating interests
(+/-)
EUR 2,407.00
Expenses / income from participations EUR 2,407.00
Income from related companies
EUR 2,407.00
Interest result (+/-)
EUR -9,300,220.00
Interest and similar income
EUR 133,460.00
thereof from related companies
EUR 115,000.00
Interest and similar expenses EUR 9,433,680.00
thereof paid to related companies
EUR 2,960,000.00
Other financial result
EUR 54,076.00
Income from securities and loans from
financial assets
EUR 54,076.00
Financial result (+/-)
EUR -9,243,737.00
Result from ordinary operations (+/-)
EUR 77,687,432.00
Expenses for transfer of profits to a
parent company EUR 77,443,508.00
Income tax / refund of income tax (+/-)EUR -243,924.00
Tax
(+/-)
EUR -243,924.00
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
UK Pound |
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.