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Report No. : |
348492 |
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Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ACETO PHARMA GMBH |
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Registered Office : |
Winterhuder Weg 27 D 22085 Hamburg Post Box: 76 21 80, D 22069 Hamburg |
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Country : |
Germany |
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Financials (as on) : |
30.06.2014 |
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Date of Incorporation : |
1976 |
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Com. Reg. No.: |
HRB 19515 |
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Legal Form : |
Private limited company |
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Line of Business : |
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No. of Employee : |
24 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
ACETO PHARMA GMBH
Company Status: active
Winterhuder Weg 27
D 22085 Hamburg
Post Box:
76 21 80, D 22069 Hamburg
Telephone:040/227-0260
Telefax: 040/227-3220
Homepage:
www.aceto-europe.com
E-mail: contact@de.aceto.com
VAT
no.: DE118678027
Tax
ID number: 71/831/01158
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1976
Shareholders'
agreement: 10.01.1977
Registered on: 08.03.1977
Commercial Register: Local court 20355 Hamburg
under: HRB
19515
EUR
1,280,000.00
Shareholder:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 4,100,000.00
Share: EUR 1,280,000.00
Registered on: 15.06.2012
Reg. data: 20355 Hamburg,
HRB 123396
Control and profit
transfer agreement
Manager:
Günter Schenkel
Pinguinweg 17
D 22527 Hamburg
authorized to jointly
represent the company
born: 02.06.1963
Manager:
Salvatore John Guccione
USA Fairfield, New Jersey
having sole power of
representation
born: 11.10.1962
Nationality: USA
Proxy:
Thomas Koch
D 22085 Hamburg
authorized to jointly
represent the company
born: 24.06.1957
Further functions/participations of Günter
Schenkel (Manager)
Manager:
Aceto Fine Chem GmbH
Winterhuder Weg 27
D 22085 Hamburg
Post Box:
76 21 80, D 22069 Hamburg
Legal form: Private
limited company
Share capital: EUR
1,790,000.00
Registered
on: 19.09.1985
Reg. data: 20355 Hamburg, HRB 34879
Manager:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 4,100,000.00
Registered
on: 15.06.2012
Reg. data: 20355 Hamburg, HRB 123396
Proxy:
Aceto Health Ingredients
GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.03.2008
Reg. data: 20355 Hamburg, HRB 104476
Proxy:
Pharma Waldhof GmbH
Hansaallee 159
D 40549 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 300,000.00
Registered
on: 03.06.2004
Reg. data: 40227 Düsseldorf, HRB 49945
Further functions/participations of Salvatore
John Guccione
(Manager)
Manager:
Aceto Fine Chem GmbH
Winterhuder Weg 27
D 22085 Hamburg
Post Box:
76 21 80, D 22069 Hamburg
Legal form: Private
limited company
Share capital: EUR 1,790,000.00
Registered
on: 19.09.1985
Reg. data: 20355 Hamburg, HRB 34879
Manager:
Aceto Health Ingredients
GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.03.2008
Reg. data: 20355 Hamburg, HRB 104476
Manager:
Pharma Waldhof GmbH
Hansaallee 159
D 40549 Düsseldorf
Legal form: Private
limited company
Share capital: EUR 300,000.00
Registered
on: 03.06.2004
Reg. data: 40227 Düsseldorf, HRB 49945
Manager:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
Legal form: Private
limited company
Share capital: EUR 4,100,000.00
Registered
on: 15.06.2012
Reg. data: 20355 Hamburg, HRB 123396
10.01.1977 - 06.11.1995 SPH Pharma Service GmbH
Winterhuder Weg 27
D 22085 Hamburg
Private limited
company
07.11.1995
- 05.06.2001 Schweizerhall Pharma GmbH
Winterhuder Weg 27
D 22085 Hamburg
Private limited
company
Main industrial sector
8299
Other business support service activities n. e. c.
Secondary industrial sector
46461
Wholesale of pharmaceutical goods
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013/2014
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 Winterhuder Weg 27
D 22085 Hamburg
Land register documents were not available.
Principal bank
DEUTSCHE BANK, 20079 HAMBURG
Sort. code: 20070000, Account no.: 129270
BIC: DEUTDEHHXXX, IBAN: DE81200700000012927000
Turnover: 2012/2013 EUR 37,914,445.00
2013/2014 EUR 27,484,987.00
2014/2015 *EUR 28,000,000.00
Profit: 2012/2013 EUR 974,210.00
2013/2014 EUR 539,795.00
further business figures:
Equipment: EUR 70,070.00
Ac/ts receivable: EUR 5,131,816.00
Liabilities: EUR 6,636,788.00
Employees:
24
Control and profit transfer agreement to:
ACETO Holding GmbH
Winterhuder Weg 27
D 22085 Hamburg
The
business figures marked with an asterisk are estimates based
on
average values in the line of business.
Balance sheet ratios 01.07.2013 - 30.06.2014
Equity ratio [%]: 64.36
Liquidity ratio: 1.85
Return on total capital [%]: 4.63
Balance sheet ratios 01.07.2012 - 30.06.2013
Equity ratio [%]: 62.44
Liquidity ratio: 1.48
Return on total capital [%]: 6.29
Balance sheet ratios 01.07.2011 - 30.06.2012
Equity ratio [%]: 37.17
Liquidity ratio: 0.91
Return on total capital [%]: 5.76
Balance sheet ratios 01.07.2010 - 30.06.2011
Equity ratio [%]: 60.44
Liquidity ratio: 1.71
Return on total capital [%]: 10.67
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: 01.07.2013 - 30.06.2014
ASSETS EUR 11,655,245.55
Fixed assets
EUR 221,144.99
Intangible assets
EUR 151,074.83
Concessions, licences, rights EUR 151,074.83
Tangible assets
EUR 70,070.16
Other tangible assets / fixtures and
fittings
EUR 70,070.16
Current assets
EUR 11,371,820.62
Stocks
EUR 5,277,804.96
Finished goods / work in progress
EUR 5,277,804.96
Accounts receivable
EUR 5,131,816.48
Trade debtors EUR
5,000,959.18
Amounts due from related companies
EUR 61,454.50
Other debtors and assets
EUR 69,402.80
Liquid means
EUR 962,199.18
Remaining other assets EUR 62,279.94
Accruals (assets)
EUR 62,279.94
LIABILITIES EUR 11,655,245.55
Shareholders' equity
EUR 4,599,866.80
Capital EUR 1,280,000.00
Subscribed capital (share capital)
EUR 1,280,000.00
Reserves
EUR 3,319,866.80
Capital reserves
EUR 3,319,866.80
Provisions
EUR 418,590.67
Other / unspecified provisions
EUR 418,590.67
Liabilities
EUR 6,636,788.08
Other liabilities
EUR 6,636,788.08
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,437,167.71
Liabilities due to shareholders
EUR 2,901,522.26
Liabililties due to related companiesEUR 177,800.18
Unspecified other liabilities EUR 120,297.93
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 27,484,986.62
Other operating income
EUR 367,957.23
Cost of materials
EUR 23,667,716.81
Raw materials and supplies, purchased
goods
EUR 23,124,514.03
Purchased services
EUR 543,202.78
Gross result (+/-)
EUR 4,185,227.04
Staff expenses
EUR 1,666,314.74
Wages and salaries
EUR 1,382,659.39
Social security contributions and
expenses for pension plans and
benefits
EUR 283,655.35
Total depreciation
EUR 90,472.95
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 90,472.95
Other operating expenses
EUR 1,886,246.99
Operating result from continuing
operations
EUR 542,192.36
Interest result (+/-)
EUR -2,397.01
Interest and similar income
EUR 3,253.17
Interest and similar expenses
EUR 5,650.18
Financial result (+/-)
EUR -2,397.01
Result from ordinary operations (+/-)
EUR 539,795.35
Expenses for transfer of profits to a
parent company
EUR 539,795.35
Annual surplus / annual deficit
EUR 0.00
Type of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.07.2012 - 30.06.2013
ASSETS EUR 15,493,413.81
Fixed assets
EUR 298,964.72
Intangible assets
EUR 202,325.64
Concessions, licences, rights
EUR 202,325.64
Tangible assets
EUR 96,639.08
Other
tangible assets / fixtures and
fittings
EUR 96,639.08
Current assets
EUR 15,029,057.92
Stocks
EUR 7,586,632.11
Finished goods / work in progress
EUR 7,586,632.11
Accounts receivable
EUR 7,055,737.79
Amounts due from shareholders
EUR 0.00
Trade debtors
EUR 6,419,137.09
Amounts due from related companies
EUR 327,163.39
Other debtors and assets
EUR 309,437.31
Liquid means
EUR 386,688.02
Remaining other assets
EUR 165,391.17
Accruals (assets)
EUR 165,391.17
LIABILITIES EUR 15,493,413.81
Shareholders' equity
EUR 4,599,866.80
Capital
EUR 1,280,000.00
Subscribed capital (share capital)
EUR 1,280,000.00
Reserves
EUR 3,319,866.80
Capital reserves
EUR 3,319,866.80
Provisions EUR 653,612.58
Other / unspecified provisions
EUR 653,612.58
Liabilities
EUR 10,239,934.43
Other liabilities
EUR 10,239,934.43
Trade creditors (for IAS incl. bills
of exchange)
EUR 4,844,612.59
Liabilities from received advance
payments
EUR 29,575.00
Liabilities due to shareholders
EUR 5,073,769.96
Liabililties due to related companiesEUR 197,495.78
Unspecified other liabilities
EUR 94,481.10
thereof liabilities from tax /
financial authorities
EUR 67,913.78
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 37,914,445.39
Other operating income
EUR 957,183.96
Cost of materials
EUR 33,661,267.24
Raw materials and supplies, purchased
goods
EUR 33,467,493.61
Purchased services
EUR 193,773.63
Gross result (+/-)
EUR 5,210,362.11
Staff expenses
EUR 1,758,106.56
Wages and salaries
EUR 1,507,247.48
Social security contributions and
expenses for pension plans and
benefits
EUR 250,859.08
Total depreciation
EUR 133,707.86
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 133,707.86
Other operating expenses EUR 2,342,902.40
Operating result from continuing
operations
EUR 975,645.29
Interest result (+/-)
EUR -1,435.35
Interest and similar income
EUR 0.00
thereof from related companies
EUR 0.00
Interest and similar expenses
EUR 1,435.35
Financial result (+/-)
EUR -1,435.35
Result from ordinary operations (+/-)
EUR 974,209.94
Expenses for transfer of profits to a
parent company
EUR 974,209.94
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.