|
Report No. : |
349816 |
|
Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HANSGROHE
SE |
|
|
|
|
Registered Office : |
Auestr. 5-9, D 77761 Schiltach, Post Box: 1145 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.01.1901 |
|
|
|
|
Legal Form : |
European Company (SE) |
|
|
|
|
Line of Business : |
·
Manufacture of taps and valves n.e.c.
·
Other engineering activities |
|
|
|
|
No. of Employee : |
3,446 |
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 : |
Good |
|
|
|
|
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 |
HANSGROHE SE
Company
Status: active
Auestr. 5-9
D 77761 Schiltach
Post Box: 11 45
Telephone:07836/51-0
Telefax:
07836/51-1300
Homepage: www.hansgrohe.com
E-mail:
info@hansgrohe.com
VAT
no.: DE812782725
LEGAL
FORM European Company (SE)
Date
of foundation: 01.01.1901
Registered
on: 27.03.2012
Commercial
Register: Local court 70190 Stuttgart
under: HRB
740779
Share
capital: EUR 61,156,320.00
Thorsten Klapproth
D 73312 Geislingen
born: 28.11.1961 in
Osterode im Harz
Profession: Fully
qualified merchant
Marital status: married
Richard Grohe
Zollmatt 3
D 77761 Schiltach
authorized to jointly
represent the company
born: 14.09.1965
Nationality: French
Frank Schnatz
D 88433 Schemmerhofen
born: 22.02.1973
Member
of the Board of Directors:
Frank Semling
Alter Sportplatz 15
D 77797 Ohlsbach
authorized to jointly
represent the company
born: 05.11.1966
President
of the Supervisory Board:
Klaus Jaenecke
D 77761 Schiltach
Marital status: unknown
Vice-president
of the Supervisory Board:
Lau Frandsen
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Member
of the Supervisory Board:
Keith Allman
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Member
of the Supervisory Board:
Gerald Volas
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Member
of the Supervisory Board:
Pierre Nikolas Grohe
D 77761 Schiltach
Marital status: unknown
Representative
of the Employees within the Supervisory Board:
Barbara Scholl
Auestr. 5 - 9
D 77761 Schiltach
Marital status: unknown
Representative
of the Employees within the Supervisory Board:
Stefan Krischack
Auestr. 5-9
D 77761 Schiltach
Marital status: unknown
Horst Josef Flieger
Bickenmäuerle 33/2
D 77761 Schiltach
authorized to jointly
represent the company
born: 17.01.1954
Profession: Businessman
Marital status: married
Proxy:
Joachim Huber
Scheffelweg 13
D 78713 Schramberg
authorized to jointly
represent the company
born: 28.06.1958
Proxy:
Dr.-Ing. Nicholas Matten
D 77652 Offenburg
authorized to jointly
represent the company
born: 27.09.1961
Proxy:
Hans-Jürgen Kalmbach
D 77716 Haslach
authorized to jointly
represent the company
born: 11.12.1974
Proxy:
Norbert Rembeck
D 89150 Laichingen
authorized to jointly
represent the company
born: 27.05.1962
Proxy:
Thomas Egenter
Am Bühlhof 50
D 77756 Hausach
authorized to jointly
represent the company
born: 23.09.1967
Proxy:
James-Phillipe Grohe
D 77709 Wolfach
authorized to jointly
represent the company
born: 03.01.1967
Proxy:
Udo Kraus
D 77773 Schenkenzell
authorized to jointly
represent the company
born: 31.03.1967
Proxy:
Christophe Germain Paul
Gourlan
D 77652 Offenburg
authorized to jointly
represent the company
born: 01.07.1972
Further
functions/participations of Thorsten Klapproth (Presidentof the Board of
Directors)
Manager:
Hansgrohe International
GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Share capital: EUR 520,000.00
Registered
on: 13.01.1998
Reg. data: 70190 Stuttgart, HRB 480945
Manager:
Hansgrohe Deutschland
Vertriebs GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 06.11.2002
Reg. data: 70190 Stuttgart, HRB 481204
Further
functions/participations of Richard Grohe (Vice-president
of
the Board of Directors)
Limited
partner:
Grohe Ausbildungs KG
Zollmatt 3
D 77761 Schiltach
Legal form: Limited
partnership
Total cap. EUR 4,000.00
contribution:
Share: EUR 4,000.00
Registered
on: 03.04.2014
Reg. data: 70190 Stuttgart, HRA 729748
Shareholder:
Syngroh
Beteiligungsgesellschaft mbH
Auestr. 25
D 77761 Schiltach
Legal form: Private
limited company
Share capital: EUR
50,000.00
Share: EUR 12,500.00
Registered
on: 26.07.2013
Reg. data: 70190 Stuttgart, HRB 745743
Further
functions/participations of Frank Schnatz (Member of the
Board
of Directors)
Shareholder:
F.S. Trockenbau GmbH
Stuckenacker 6
D 58708 Menden
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 27.03.2003
Reg. data: 59821 Arnsberg, HRB 5373
14.06.1905
- 09.09.1999 Hans Grohe GmbH & Co. KG
Auestr. 5-9
D 77761 Schiltach
Ltd partnership with
priv. ltd. company
as general partner
10.09.1999
- 27.03.2012 Hansgrohe AG (HRB 481038 AG Stuttgart)
Auestr. 5-9
D 77761 Schiltach
Public limited company
04.04.2012
- 20.05.2015 Member of the Board of Directors
Marc Griggel
D 78048
Villingen-Schwenningen
04.06.2013
- 22.04.2015 President of the Supervisory Board
Klaus Grohe
D 77761 Schiltach
28.12.2012
- 14.10.2014 President of the Board of Directors
Siegfried Gänßlen
D 72275 Alpirsbach
Sectors
25993 Manufacture of metal products n.e.c.
28140 Manufacture of taps and valves n.e.c.
46722 Wholesale of non-ferrous ores, metals and
metal semi-finished goods
71129 Other engineering activities
Branch:
Hansgrohe SE
Schramberger Str. 57
D 77761 Schiltach
Branch:
Hansgrohe SE
Paradiesstr. 206b
D 12526 Berlin
TEL.: 030/6799090
Branch:
Hansgrohe SE
Robert-Koch-Str. 2
D 72275 Alpirsbach
Branch:
Hansgrohe SE
Carl-Zeiss-Str. 3
D 77656 Offenburg
Shareholder:
Hansgrohe International
GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 520,000.00
Share: EUR 520,000.00
Reg. data: 13.01.1998
Local court 70190 Stuttgart
HRB 480945
Shareholder:
Hansgrohe Deutschland Vertriebs GmbH
Auestr. 5-9
D 77761 Schiltach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 100,000.00
Share: EUR 100,000.00
Reg. data: 06.11.2002
Local court 70190 Stuttgart
HRB 481204
Payment
experience: cash discount/within agreed
terms
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).
Type
of ownership: Tenant
Address Auestr.
5-9
D 77761 Schiltach
Real
Estate of: Lau Frandsen
Type
of ownership: Tenant
Address Auestr.
5-9
D 77761 Schiltach
Real
Estate of: Keith Allman
Type
of ownership: Tenant
Address Auestr.
5-9
D 77761 Schiltach
Real
Estate of: Gerald Volas
Type
of ownership: Tenant
Address Auestr.
5-9
D 77761 Schiltach
Real
Estate of: Barbara Scholl
Type
of ownership: Tenant
Address Auestr.
5-9
D 77761 Schiltach
Real
Estate of: Stefan Krischack
Type
of ownership: Tenant
Address Auestr.
5-9
D 77761 Schiltach
Land
register documents were not available.
Principal
bank
VOLKSBANK
KINZIGTAL, 77757 SCHILTACH
Sort.
code: 66492700
BIC:
GENODE61KZT
Further
banks
COMMERZBANK,
78628 ROTTWEIL
Sort.
code: 64240071
BIC:
COBADEFFXXX
DEUTSCHE
BANK, 77603 OFFENBURG
Sort.
code: 66470035
BIC:
DEUTDE6F664
COMMERZBANK
VORMALS DRESDNER BANK, 79003 FREIBURG IM BREISGAU
Sort.
code: 68080030
BIC:
DRESDEFF680
VOLKSBANK
KINZIGTAL, 77706 WOLFACH
Sort.
code: 66492700
BIC:
GENODE61KZT
SPARKASSE
WOLFACH, 77705 WOLFACH
Sort.
code: 66452776
BIC:
SOLADES1WOF
BADEN-WÜRTTEMB.BANK/LANDESBANK
BADEN-WÜRTTEMB., 78614 ROTTWEIL
Sort.
code: 60050101
BIC:
SOLADEST600
Turnover: 2013 EUR 666,963,331.00
2014
EUR 675,549,513.00
Profit: 2013 EUR 80,947,149.00
2014
EUR 83,912,327.00
further
business figures:
Ac/ts
receivable: EUR 99,324,958.00
Liabilities: EUR
131,770,022.00
Employees:
3,446
-
Trainees:
119
Balance
sheet ratios 01.01.2014 -
31.12.2014
Equity
ratio [%]: 61.55
Liquidity
ratio: 10.00
Return
on total capital [%]: 14.30
Balance
sheet ratios 01.01.2013 -
31.12.2013
Equity
ratio [%]: 64.30
Liquidity
ratio: 10.00
Return
on total capital [%]: 14.53
Balance
sheet grade: 1.1
Balance
sheet ratios 01.01.2012 -
31.12.2012
Equity
ratio [%]: 64.54
Liquidity
ratio: 10.00
Return
on total capital [%]: 14.71
Balance
sheet grade: 1.1
Balance
sheet ratios 01.01.2011 -
31.12.2011
Equity
ratio [%]: 66.84
Liquidity
ratio: 10.00
Return
on total capital [%]: 15.02
Balance
sheet grade: 1.0
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: electronic German Federal Gazette
Financial
year: 01.01.2014 - 31.12.2014
ASSETS EUR 593,274,735.51
Fixed assets EUR 107,725,435.08
Intangible assets EUR 3,927,471.26
Tangible assets EUR 95,771,019.88
Financial assets EUR 8,026,943.94
Other / unspecified financial assets
EUR 8,026,943.94
Current assets EUR 482,804,342.37
Stocks EUR 70,028,815.92
Finished goods / work in progress EUR
70,028,815.92
Accounts receivable EUR 99,324,958.42
Other debtors and assets EUR 99,324,958.42
Liquid means EUR 313,450,568.03
Remaining other assets EUR 2,744,958.06
Accruals (assets) EUR 2,559,846.50
Active difference from asset
offsetting EUR 185,111.56
LIABILITIES EUR 593,274,735.51
Shareholders' equity EUR 365,933,470.56
Capital EUR 61,156,320.00
Subscribed capital (share capital) EUR
61,156,320.00
Reserves EUR 220,864,824.01
Capital reserves EUR 11,734,542.73
Retained earnings / revenue reserves
EUR 209,130,281.28
Balance sheet profit/loss (+/-) EUR 83,912,326.55
Balance sheet profit / loss EUR 83,912,326.55
Provisions EUR 95,571,242.76
Pension provisions and comparable
provisions EUR 55,847,541.00
Provisions for taxes EUR 5,963,319.41
Other / unspecified provisions EUR 33,760,382.35
Liabilities EUR 131,770,022.19
Other liabilities EUR 131,770,022.19
Trade creditors (for IAS incl. bills
of exchange) EUR 52,146,889.31
Liabililties due to related companiesEUR 63,688,633.61
Unspecified other liabilities EUR 15,934,499.27
thereof liabilities from tax /
financial authorities EUR 7,763,962.91
thereof liabilities from social
security EUR 2,348.96
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 675,549,513.36
Inventory change + own costs (+/-) EUR 9,890,465.05
Inventory change (+/-) EUR 6,839,352.92
Capitalised own costs EUR 3,051,112.13
Other operating income EUR 22,995,318.10
Cost of materials EUR 368,698,544.30
Raw materials and supplies, purchased
goods EUR 335,651,670.70
Purchased services EUR 33,046,873.60
Gross result (+/-) EUR 339,736,752.21
Staff expenses EUR 124,214,264.96
Wages and salaries EUR 101,925,747.85
Social security contributions and
expenses for pension plans and
benefits EUR 22,288,517.11
Total depreciation EUR 24,556,879.24
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 24,556,879.24
Other operating expenses EUR 89,744,770.46
Operating result from continuing
operations EUR 101,220,837.55
Result from participating interests
(+/-) EUR 22,083,020.56
Expenses / income from participations
EUR 22,083,020.56
Income from transfer of profits EUR 22,082,775.42
Income from related companies EUR 245.14
Interest result (+/-) EUR -2,318,592.87
Interest and similar income EUR 1,940,497.69
thereof from related companies EUR 444,558.56
Interest and similar expenses EUR 4,259,090.56
thereof paid to related companies EUR 148,746.89
Other financial result EUR 39,566.55
Income from securities and loans from
financial assets EUR 39,566.55
Financial result (+/-) EUR 19,803,994.24
Result from ordinary operations (+/-) EUR
121,024,831.79
Extraordinary expenses EUR 639,191.00
Extraordinary result (+/-) EUR -639,191.00
Income tax / refund of income tax
(+/-)EUR -36,473,314.24
Tax (+/-) EUR -36,473,314.24
Annual surplus / annual deficit EUR 83,912,326.55
Type
of balance sheet: Company
balance sheet
Origin
of the present
balance
sheet: electronic German Federal
Gazette
Financial
year: 01.01.2013 - 31.12.2013
ASSETS EUR 563,430,470.87
Fixed assets EUR 107,824,014.37
Intangible assets EUR 3,828,968.26
Tangible assets EUR 95,960,086.98
Financial assets EUR 8,034,959.13
Other / unspecified financial assets
EUR 8,034,959.13
Current assets EUR 453,994,474.14
Stocks
EUR 61,248,415.96
Finished goods / work in progress EUR
61,248,415.96
Accounts receivable EUR 99,395,513.16
Other debtors and assets EUR 99,395,513.16
Liquid means EUR 293,350,545.02
Remaining other assets EUR 1,611,982.36
Accruals (assets) EUR 1,432,210.13
Active difference from asset
offsetting EUR 179,772.23
LIABILITIES EUR 563,430,470.87
Shareholders' equity EUR 362,968,293.34
Capital EUR 61,156,320.00
Subscribed capital (share capital) EUR
61,156,320.00
Reserves EUR 220,864,824.01
Capital reserves EUR 11,734,542.73
Retained earnings / revenue reserves
EUR 209,130,281.28
Balance sheet profit/loss (+/-) EUR 80,947,149.33
Balance sheet profit / loss EUR 80,947,149.33
Items between shareholders' equity and
debt capital EUR 13.83
Allowances / bonuses EUR 13.83
Provisions EUR 89,684,048.30
Pension provisions and comparable
provisions EUR 49,899,972.00
Provisions for taxes EUR 8,868,869.30
Other / unspecified provisions EUR 30,915,207.00
Liabilities EUR 110,778,115.40
Financial debts EUR 1,203,028.97
Liabilities due to banks EUR 1,203,028.97
Other liabilities EUR 109,575,086.43
Trade creditors (for IAS incl. bills
of exchange) EUR 45,324,916.88
Liabililties due to related
companiesEUR 52,983,366.63
Unspecified other liabilities EUR 11,266,802.92
thereof liabilities from tax /
financial authorities EUR 7,763,962.91
thereof liabilities from social
security EUR 2,348.96
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 666,963,331.47
Inventory change + own costs (+/-) EUR 2,448,552.01
Inventory change (+/-) EUR -624,502.03
Capitalised own costs EUR 3,073,054.04
Other operating income EUR 18,617,934.86
Cost of materials EUR 370,279,426.45
Raw materials and supplies, purchased
goods EUR 337,630,360.99
Purchased services EUR 32,649,065.46
Gross result (+/-) EUR 317,750,391.89
Staff expenses EUR 117,644,526.48
Wages and salaries EUR 97,497,925.44
Social security contributions and
expenses for pension plans and
benefits EUR 20,146,601.04
Total depreciation EUR 24,477,852.43
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 24,477,852.43
Other operating expenses EUR 95,482,417.95
Operating result from continuing
operations EUR 80,145,595.03
Result from participating interests
(+/-) EUR 24,932,569.68
Expenses / income from participations
EUR 24,932,569.68
Income from transfer of profits EUR 24,931,641.96
Income from related companies EUR 927.72
Interest result (+/-) EUR -306,758.87
Interest and similar income EUR 3,020,775.79
thereof from related companies EUR 1,111,073.59
Interest and similar expenses EUR 3,327,534.66
thereof paid to related companies EUR 412,506.84
Other financial result EUR 58,652.37
Income from securities and loans from
financial assets EUR 58,652.37
Financial result (+/-) EUR 24,684,463.18
Result from ordinary operations (+/-) EUR
104,830,058.21
Extraordinary expenses EUR 639,191.00
Extraordinary result (+/-) EUR -639,191.00
Income tax / refund of income tax
(+/-)EUR -23,243,717.88
Tax (+/-) EUR -23,243,717.88
Annual surplus / annual deficit EUR 80,947,149.33
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.