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Report No. : |
328357 |
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Report Date : |
25.06.2015 |
IDENTIFICATION DETAILS
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Name : |
KLOTH & KÖHNKEN TEEHANDEL GMBH |
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Registered Office : |
Konsul-Smidt-Str. 8j, D 28217 Bremen |
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Country : |
Germany |
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Date of Incorporation : |
13.12.1991 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in wholesale of coffee,
tea, cocoa and spices |
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No. of Employee : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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.
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.
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Source
: CIA |
KLOTH
& KÖHNKEN TEEHANDEL GMBH
Company Status: active
Konsul-Smidt-Str. 8j
D 28217 Bremen
Telephone:0421/3485264
Telefax: 0421/3477720
Homepage: www.kktee.de
E-mail: info@kktee.de
VAT
no.: DE114419557
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 13.12.1991
Shareholders'
agreement: 13.12.1991
Registered on: 28.01.1992
Commercial Register: Local court 28195 Bremen
under: HRB
14010 HB
EUR 300,000.00
Mathias Kloth
D 27726 Worpswede
born: 25.09.1948
Share: EUR 150,000.00
Shareholder:
Axel Köhnken
D 28209 Bremen
born: 11.08.1965
Share: EUR 135,000.00
Shareholder:
Celine Carlotta
Kloth-Henwood
D 28217 Bremen
born: 30.05.1982
Share: EUR 15,000.00
Axel Köhnken
D 28209 Bremen
born: 11.08.1965
Profession: Businessman
Manager:
Mathias Kloth
D 27726 Worpswede
born: 25.09.1948
Profession: Businessman
Wolfgang Wilhelm
D 28217 Bremen
authorized to jointly
represent the company
born: 09.12.1952
28.01.1992 - 01.10.2006 Kloth & Köhnken Teehandel GmbH
Wachmannstr. 7
D 28209 Bremen
Private limited
company
Main industrial sector
46370
Wholesale of coffee, tea, cocoa and spices
Limited partner:
Paul Schrader GmbH & Co. KG
Gutenbergstr. 7
D 28844 Weyhe
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 720,000.00
contribution:
Share: EUR 180,000.00
Reg. data: 29.12.2003
Local court 28195 Bremen
HRA 23251 HB
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
PMI: No significant / relevant
payment experience
information pertaining to
the company
inquired upon is shown in
the Deutscher
Debitoren Monitor
(DDMonitor).
Balance sheet year: 2013
Type
of ownership: Tenant
Address Konsul-Smidt-Str.
8j
D 28217 Bremen
Land register documents were not available.
COMMERZBANK, 28079 BREMEN
Sort. code: 29040090
BIC: COBADEFFXXX
SPARKASSE BREMEN, 28078 BREMEN
Sort. code: 29050101
BIC: SBREDE22XXX
Turnover: 2013 EUR 4,056,930.00
2014 EUR 4,100,000.00
Profit: 2013 EUR 554,510.00
further business figures:
Equipment: EUR 141,448.00
Ac/ts receivable: EUR 3,488,737.00
Liabilities: EUR 14,958,518.00
Employees:
18
-
thereof permanent staff: 10
-
Part-time employees: 5
-
Trainees:
2
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 15.95
Liquidity ratio: 0.26
Return on total capital [%]: 3.42
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 16.93
Liquidity ratio: 0.35
Return on total capital [%]: 3.50
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 16.87
Liquidity ratio: 0.30
Return on total capital [%]: 3.30
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 16.24
Liquidity ratio: 0.49
Return on total capital [%]: 3.79
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.
Financial
year: 01.01.2013 - 31.12.2013
ASSETS
EUR 16,200,431.11
Fixed assets
EUR 209,591.68
Intangible assets
EUR 2.00
Tangible assets
EUR 141,448.00
Other tangible assets / fixtures and
fittings
EUR 141,448.00
Financial assets
EUR 68,141.68
Shares in participations /
subsidiaries and the like
EUR 68,141.68
Shares in investee companies
EUR 68,141.68
Current assets
EUR 15,738,863.21
Stocks
EUR 12,248,195.37
Accounts receivable
EUR 3,488,737.08
Liquid means
EUR 1,930.76
Remaining other assets
EUR 251,976.22
Accruals (assets)
EUR 11,204.22
Active difference from asset
offsetting
EUR 240,772.00
LIABILITIES EUR 16,200,431.11
Shareholders' equity
EUR 935,627.66
Capital
EUR 300,000.00
Subscribed capital (share capital)
EUR 300,000.00
Reserves
EUR 50,000.00
Capital reserves
EUR 50,000.00
Balance sheet profit/loss (+/-)
EUR 585,627.66
Profit / loss brought forward
EUR 82,246.60
Annual surplus / annual deficit
EUR 503,381.06
Provisions
EUR 306,285.95
Liabilities EUR 14,958,517.50
Financial debts
EUR 8,890,365.15
Liabilities due to banks
EUR 8,890,365.15
Other liabilities
EUR 6,068,152.35
Liabilities due to shareholders
EUR 1,648,788.00
Unspecified other liabilities
EUR 4,419,364.35
Guarantees and other commitments
EUR 137,500.00
Guarantees / warranties
EUR 137,500.00
Guarantees EUR 137,500.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 4,056,930.56
Staff expenses
EUR 1,162,527.37
Wages and salaries
EUR 1,026,446.46
Social security contributions and
expenses for pension plans and
benefits
EUR 136,080.91
Total depreciation EUR 40,066.56
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 40,066.56
Other operating expenses
EUR 1,298,623.90
Operating
result from continuing
operations
EUR 1,555,712.73
Interest result (+/-)
EUR -728,853.47
Interest and similar income
EUR 72,020.56
Interest and similar expenses
EUR 800,874.03
Financial result (+/-)
EUR -728,853.47
Result from ordinary operations (+/-)
EUR 826,859.26
Expenses for transfer of profits to a
parent company
EUR 51,129.16
Income tax / refund of income tax (+/-)EUR -271,051.13
Other taxes / refund of taxes
EUR -1,297.91
Tax
(+/-)
EUR -272,349.04
Annual surplus / annual deficit
EUR 503,381.06
Type
of balance sheet: Company
balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 14,920,215.52
Fixed assets
EUR 180,982.86
Intangible assets
EUR 2.00
Other / unspecified intangible assetsEUR 2.00
Tangible assets
EUR 161,338.00
Other tangible assets / fixtures and
fittings
EUR 161,338.00
Financial assets
EUR 19,642.86
Shares in participations /
subsidiaries and the like
EUR 19,642.86
Shares in investee companies
EUR 19,642.86
Current assets
EUR 14,486,692.11
Stocks
EUR 10,300,338.79
Accounts receivable
EUR 4,181,273.53
Other debtors and assets
EUR 4,181,273.53
Liquid means
EUR 5,079.79
Remaining other assets
EUR 252,540.55
Accruals (assets)
EUR 5,843.84
Active difference from asset
offsetting
EUR 246,696.71
LIABILITIES EUR 14,920,215.52
Shareholders' equity
EUR 872,246.60
Capital
EUR 300,000.00
Subscribed capital (share capital)
EUR 300,000.00
Reserves
EUR 50,000.00
Capital reserves
EUR 50,000.00
Balance sheet profit/loss (+/-)
EUR 522,246.60
Balance sheet profit / loss
EUR 522,246.60
Provisions
EUR 284,203.24
Liabilities
EUR 13,758,711.90
Financial debts
EUR 8,472,787.41
Liabilities due to banks
EUR 8,472,787.41
Other liabilities
EUR 5,285,924.49
Liabilities due to shareholders
EUR 1,654,033.50
Unspecified other liabilities
EUR 3,631,890.99
Other liabilities
EUR 5,053.78
Deferrals (liabilities)
EUR 5,053.78
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 3,770,506.03
Staff expenses
EUR 1,069,947.16
Wages and salaries
EUR 947,408.16
Social
security contributions and
expenses for pension plans and
benefits
EUR 122,539.00
Total depreciation
EUR 37,197.75
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 37,197.75
Other operating expenses
EUR 1,186,306.44
Operating result from continuing
operations
EUR 1,477,054.68
Interest result (+/-)
EUR -656,631.33
Interest and similar income
EUR 65,155.52
Interest and similar expenses
EUR 721,786.85
Other financial result
EUR -48,400.57
Depreciation on financial assets and
marketable securities
EUR 48,400.57
Financial result (+/-)
EUR -705,031.90
Result from ordinary operations (+/-)
EUR 772,022.78
Expenses for transfer of profits to a
parent company
EUR 51,129.16
Income tax / refund of income tax (+/-)EUR -249,018.93
Other taxes / refund of taxes
EUR -336.69
Tax
(+/-)
EUR -249,355.62
Annual surplus / annual deficit
EUR 471,538.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.66 |
|
|
1 |
Rs.100.50 |
|
Euro |
1 |
Rs.71.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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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 |
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NB |
New Business |
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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.