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Report No. : |
312108 |
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Report Date : |
14.03.2015 |
IDENTIFICATION DETAILS
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Name : |
BORSIG PROCESS HEAT EXCHANGER GMBH |
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|
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Registered Office : |
Egellsstr.
21, D 13507 Berlin |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
05.06.2002 |
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Legal Form : |
Private limited company |
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Line of Business : |
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No of Employees : |
151 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 |
Borsig
Process Heat Exchanger GmbH
Egellsstr.
21
D 13507
Berlin
Telephone:030/4301-01
Telefax: 030/4301-2236
Homepage: www.borsig.de
E-mail: aborsig@borsig.de
Active
DE813500999
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 05.06.2002
Shareholders'
agreement: 05.06.2002
Registered on: 06.08.2002
Commercial Register: Local court 14057 Berlin
under: HRB
85536 B
Share capital: EUR 1,901,000.00
Shareholder:
Borsig GmbH
Egellsstr. 21
D 13507 Berlin
Legal form: Private
limited company
Share capital: EUR 100,000.00
Share: EUR 1,901,000.00
Registered on: 03.01.2003
Reg. data: 14057 Berlin,
HRB 87337 B
Control and profit
transfer agreement
Manager:
Carsten Birk
Walhallastr. 3
D 13156 Berlin
having sole power of
representation
born: 02.10.1965
Profession: Businessman
Marital status: unknown
Proxy:
Martin Krummrey
Grizzlybärweg 14
D 16727 Oberkrämer
authorized to jointly
represent the company
born: 24.10.1964
Profession: Businessman
Marital status: unknown
Proxy:
Olaf Wiesegart
D 13507 Berlin
authorized to jointly
represent the company
born: 08.07.1960
05.06.2002 - 01.01.2003 Vierte "Opossum"
Vermögensverwaltungsgesellschaft mbH
Kurfürstendamm 212
D 10719 Berlin
Private limited company
01.01.2003 - 07.04.2006 Borsig GmbH
Egellsstr. 21
D 13507 Berlin
Private limited
company
03.12.2010 - 08.04.2014 Manager
Michael Fix
D 10437 Berlin
Sectors
28990 Manufacture of other special-purpose
machinery n.e.c.
4669 Wholesale of other machinery, equipment and
supplies
Branch:
Borsig Process Heat
Exchanger GmbH
Bottroper Str. 279
D 45964 Gladbeck
TEL.: 02043/4006-0
FAX.: 02043/4006-22
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Egellsstr.
21
D 13507 Berlin
Real Estate of: Carsten
Birk
Type of ownership: Tenant
Address Walhallastr.
3
D 13156 Berlin
Land register documents were not available.
Principal bank
COMMERZBANK FILIALE BERLIN 2, 10891 BERLIN
Sort. code: 12040000
BIC: COBADEBB120
Further banks
COMMERZBANK, FILIALE BERLIN 1, 10891 BERLIN
Sort. code: 10040000, Account no.: 176080000
BIC: COBADEBBXXX, IBAN: DE02100400000176080000
UNICREDIT BANK - HYPOVEREINSBANK, 10896 BERLIN
Sort. code: 10020890, Account no.: 355238814
BIC: HYVEDEMM488, IBAN: DE42100208900355238814
FINANCIAL FIGURES
Turnover: 2013 EUR 82,906,954.00
2014 EUR 83,000,000.00
Profit: 2013 EUR 15,744,626.00
further business figures:
Equipment: EUR 813,414.00
Ac/ts receivable: EUR 19,408,079.00
Liabilities: EUR 21,068,080.00
Real estate of the
firm: EUR 206,066.00
Employees:
151
- thereof permanent
staff: 151
Control and profit transfer agreement to:
Borsig GmbH
Egellsstr. 21
D 13507 Berlin
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 38.56
Liquidity ratio: 10.00
Return on total capital [%]: 62.04
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 19.93
Liquidity ratio: 10.00
Return on total capital [%]: 99.33
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: -42.39
Liquidity ratio: 0.61
Return on total capital [%]: 48.37
Balance sheet grade: 3.3
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.
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.
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: 01.01.2013
- 31.12.2013
ASSETS EUR 33,239,677.85
Fixed assets EUR 3,422,234.97
Intangible assets EUR 82,980.31
Tangible assets EUR 3,339,254.66
Land / similar
rights EUR 206,065.74
Plant / machinery EUR 2,044,775.13
Other tangible assets /
fixtures and
fittings EUR 813,413.79
Advance payments made / construction
in progress EUR 275,000.00
Current assets EUR 29,738,292.30
Stocks EUR 0.00
Raw materials,
consumables and
supplies EUR 725,872.55
Finished goods / work in
progress EUR 14,572,775.63
Advance payments
made EUR 2,863,661.00
Minus received advance
payments for
orders / installments
for stocks EUR -18,162,309.18
Accounts receivable EUR 19,408,078.50
thereof total due from
shareholders EUR 7,819,279.47
Trade debtors EUR 10,149,360.16
Amounts due from related
companies EUR 9,228,385.90
Other debtors and
assets EUR 30,332.44
Liquid means EUR 10,330,213.80
Remaining other
assets EUR 79,150.58
Accruals (assets) EUR 79,150.58
LIABILITIES EUR 33,239,677.85
Shareholders' equity EUR 1,901,000.00
Capital EUR 1,901,000.00
Subscribed capital
(share capital) EUR 1,901,000.00
Provisions EUR 10,270,597.86
Other / unspecified
provisions EUR 10,270,597.86
Liabilities EUR 21,068,079.99
thereof total due to
shareholders EUR 15,745,311.09
Other liabilities EUR 21,068,079.99
Trade creditors (for IAS
incl. bills
of exchange) EUR 3,333,244.34
Liabilities from
received advance
payments EUR 1,258,763.42
Liabililties due to
related companiesEUR
16,324,911.09
Unspecified other
liabilities EUR 151,161.14
thereof liabilities
from tax /
financial
authorities EUR 108,317.35
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 82,906,954.36
Inventory change + own
costs (+/-) EUR -7,490,638.81
Inventory change
(+/-) EUR -7,493,376.01
Capitalised own
costs EUR 2,737.20
Other operating
income EUR
2,403,317.86
Cost of materials EUR 39,902,388.68
Raw materials and
supplies, purchased
goods EUR 31,626,138.79
Purchased services EUR 8,276,249.89
Gross result (+/-) EUR 37,917,244.73
Staff expenses EUR 9,195,192.19
Wages and salaries EUR 7,666,649.01
Social security
contributions and
expenses for pension
plans and
benefits EUR 1,528,543.18
Total depreciation EUR 702,639.18
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 702,639.18
Other operating
expenses EUR 12,185,871.12
Operating result from
continuing
operations EUR 15,833,542.24
Interest result (+/-) EUR -48,677.82
Interest and similar
income EUR 269,412.28
thereof from related
companies EUR 238,800.02
Interest and similar
expenses EUR 318,090.10
Financial result (+/-) EUR -48,677.82
Result from ordinary
operations (+/-) EUR 15,784,864.42
Expenses for transfer of
profits to a
parent company EUR 15,744,626.41
Income tax / refund of
income tax (+/-)EUR -12,176.68
Other taxes / refund of
taxes EUR -28,061.33
Tax (+/-) EUR -40,238.01
Annual surplus / annual
deficit EUR 0.00
Type of balance sheet: Company
balance sheet
Financial year: 01.01.2012
- 31.12.2012
ASSETS EUR 40,612,637.26
Fixed assets EUR 3,415,498.19
Intangible assets EUR 24,341.33
Concessions, licences,
rights EUR 24,341.33
Tangible assets EUR 3,391,156.86
Land / similar
rights EUR 225,843.49
Plant / machinery EUR 2,319,663.84
Other tangible assets /
fixtures and
fittings EUR 806,715.53
Advance payments made /
construction
in progress EUR 38,934.00
Current assets EUR 37,170,282.98
Stocks EUR 0.00
Raw materials,
consumables and
supplies EUR 704,225.19
Finished goods / work in
progress EUR 22,066,151.64
Advance payments
made EUR 1,810,325.00
Minus received advance
payments for
orders / installments
for stocks EUR -24,580,701.83
Accounts receivable EUR 27,424,842.06
thereof total due from
shareholders EUR 19,034,726.68
Trade debtors EUR 5,760,240.15
Amounts due from related
companies EUR 21,169,683.29
Other debtors and
assets EUR 494,918.62
Liquid means EUR 9,745,440.92
Remaining other
assets EUR 26,856.09
Accruals (assets) EUR 26,856.09
LIABILITIES EUR 40,612,637.26
Shareholders' equity EUR 1,901,000.00
Capital EUR 1,901,000.00
Subscribed capital
(share capital) EUR 1,901,000.00
Provisions EUR 7,912,164.16
Other / unspecified
provisions EUR 7,912,164.16
Liabilities EUR 30,799,473.10
thereof total due to shareholders EUR
21,434,108.51
Other liabilities EUR 30,799,473.10
Trade creditors (for IAS
incl. bills
of exchange) EUR 3,347,261.56
Liabilities from
received advance
payments EUR 5,849,991.54
Liabililties due to
related companiesEUR
21,434,108.51
Unspecified other
liabilities EUR 168,111.49
thereof liabilities
from tax /
financial authorities EUR 104,319.15
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 99,713,465.20
Inventory change + own
costs (+/-) EUR -2,631,889.90
Inventory change
(+/-) EUR -2,638,454.56
Capitalised own
costs EUR 6,564.66
Other operating
income EUR 2,375,006.41
Cost of materials EUR 54,417,307.02
Raw materials and
supplies, purchased
goods EUR 45,112,253.44
Purchased services EUR 9,305,053.58
Gross result (+/-) EUR 45,039,274.69
Staff expenses EUR 9,043,469.47
Wages and salaries EUR 7,572,033.09
Social security
contributions and
expenses for pension
plans and
benefits EUR 1,471,436.38
Total depreciation EUR 641,797.62
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 641,797.62
Other operating expenses EUR 13,887,214.81
Operating result from
continuing
operations EUR 21,466,792.79
Interest result (+/-) EUR 15,750.85
Interest and similar
income EUR 254,404.73
thereof from related
companies EUR 213,583.33
Interest and similar
expenses EUR 238,653.88
Financial result
(+/-) EUR 15,750.85
Result from ordinary
operations (+/-) EUR 21,482,543.64
Expenses for transfer of
profits to a
parent company EUR 21,433,180.31
Income tax / refund of
income tax (+/-)EUR -5,683.57
Other taxes / refund of
taxes EUR -43,679.76
Tax (+/-) EUR -49,363.33
Annual surplus / annual
deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.67 |
|
|
1 |
Rs. 93.16 |
|
Euro |
1 |
Rs. 66.42 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
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.