|
Report No. : |
344530 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KURTENBACH GMBH & CO. KG |
|
|
|
|
Registered Office : |
Am Fleckenberg 2, D 65549 Limburg, Post
Box: 22 61, D 65543 Limburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of Establishment : |
1881 |
|
|
|
|
Com. Reg. No.: |
HRA 352 |
|
|
|
|
Legal Form : |
Ltd partnership with priv. ltd. company as general partner |
|
|
|
|
Line of Business : |
Wholesale of Textiles. |
|
|
|
|
No. of Employees : |
105 |
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 |
KURTENBACH
GMBH & CO. KG
Company Status: active
Am Fleckenberg 2
D 65549 Limburg
Post Box:
22 61, D 65543 Limburg
Telephone:06431/5030
Telefax: 06431/503201
E-mail: info@kurtenbach.de
VAT
no.: DE113292759
Tax
ID number: 030 329 30008
Business relations are permissible.
LEGAL
FORM Ltd partnership with priv. ltd. company as general partner
Date of foundation: 1881
Registered on: 02.01.1931
Register of
companies: Local
court 65549 Limburg
under: HRA
352
EUR 1,560,000.00
Limited partner:
Andrea Benker
Hubertusstr. 18
D 65549 Limburg
born: 24.03.1964
née: Kurtenbach
Share: EUR 780,000.00
Limited partner:
Maria Mauer
D 65549 Limburg
born: 11.02.1935
née: Kurtenbach
Share: EUR 195,000.00
Limited partner:
Dr. Heinz Peter
Kurtenbach
D 25992 List
born: 09.05.1924
Share: EUR 175,500.00
Limited partner:
Christa Kurtenbach-Boesch
D 59302 Oelde
born: 11.02.1935
Share: EUR 171,600.00
Limited partner:
Ursula Kurtenbach
D 65549 Limburg
born: 11.09.1953
Share: EUR 65,000.00
Limited partner:
Peter Willibald
Kurtenbach
D 65549 Limburg
born: 17.03.1951
Share: EUR 65,000.00
Limited partner:
Friederike Roth
D 65549 Limburg
born: 28.11.1955
née: Kurtenbach
Share: EUR 65,000.00
Limited partner:
Petra Kurtenbach-Leue
D 44135 Dortmund
born: 27.08.1963
née: Kurtenbach
Share: EUR 19,500.00
Limited partner:
Hans Boesch
D 20095 Hamburg
born: 29.11.1964
Share: EUR 7,800.00
Limited partner:
Cathrin Schiffer
D 59302 Oelde
born: 19.03.1969
née: Boesch
Share: EUR 7,800.00
Limited partner:
Christoph Boesch
D 59302 Oelde
born: 22.06.1966
Share: EUR 7,800.00
General partner:
Kurtenbach &
Kurtenbach, Gesellschaft mit
beschränkter Haftung
Am Fleckenberg 2
D 65549 Limburg
Legal form: Private
limited company
Share capital: EUR 36,000.00
Registered on: 16.06.1965
Reg. data: 65549 Limburg,
HRB 44
Shareholder:
Andrea Benker
Hubertusstr. 18
D 65549 Limburg
born: 24.03.1964
née: Kurtenbach
Share: EUR 18,000.00
Shareholder:
Maria Mauer
D 65549 Limburg
born: 11.02.1935
née: Kurtenbach
Share: EUR 4,500.00
Shareholder:
Dr. Heinz Peter
Kurtenbach
D 25992 List
born: 09.05.1924
Share: EUR 4,020.00
Shareholder:
Christa Kurtenbach-Boesch
D 59302 Oelde
born: 11.02.1935
Share: EUR 3,960.00
Shareholder:
Ursula Kurtenbach
D 65549 Limburg
born: 11.09.1953
Share: EUR 1,500.00
Shareholder:
Peter Willibald Kurtenbach
D 65549 Limburg
born: 17.03.1951
Share: EUR 1,500.00
Shareholder:
Friederike Roth
D 65549 Limburg
born: 28.11.1955
née: Kurtenbach
Share: EUR 1,500.00
Shareholder:
Petra Kurtenbach-Leue
D 44135 Dortmund
born: 27.08.1963
née: Kurtenbach
Share: EUR 480.00
Shareholder:
Hans Boesch
D 20095 Hamburg
born: 29.11.1964
Share: EUR 180.00
Shareholder:
Cathrin Schiffer
D 59302 Oelde
born: 19.03.1969
née: Boesch
Share: EUR 180.00
Shareholder:
Christoph Boesch
D 59302 Oelde
born: 22.06.1966
Share: EUR 180.00
Manager:
Andrea Benker
Hubertusstr. 18
D 65549 Limburg
born: 24.03.1964
née: Kurtenbach
Profession: Fully
qualified merchant
Marital status: married
Proxy:
Gerhard Höfer
Hammerstr. 2
D 65594 Runkel
born: 23.01.1952
Marital status: unknown
Proxy:
Andrea Benker
Hubertusstr. 18
D 65549 Limburg
having sole power of
representation
born: 24.03.1964
née: Kurtenbach
Profession: Fully qualified
merchant
Marital status: married
Proxy:
Michael Pötz
D 65549 Limburg
born: 27.07.1961
Proxy:
Dirk Purrmann
D 52159 Roetgen
authorized to jointly
represent the company
born: 02.10.1965
Proxy:
Michael Schober
D 65549 Limburg
authorized to jointly
represent the company
born: 18.10.1974
02.01.1931 - 19.01.2000 Hülster & Kurtenbach GmbH & Co. KG
Offheimer Weg 45
D 65549 Limburg
Ltd partnership with
priv. ltd. company
as general partner
Main industrial sector
46410
Wholesale of textiles
Limited partner:
TVT-Textilvertrieb in
Europa GmbH & Co. KG
Am Fleckenberg 2
D 65549 Limburg
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 81,295.40
contribution:
Share: EUR 33,745.26
Reg. data: 18.07.1995
Local court
65549 Limburg
HRA 888
Shareholder:
WOLLBAER Erwin Baer GmbH
Am Fleckenberg 2
D 65549 Limburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 260,000.00
Share: EUR 260,000.00
Reg. data: 25.11.2009
Local court 65549
Limburg
HRB 4464
Shareholder:
Keinath & Kurtenbach
GmbH
Offheimer Weg 45
D 65549 Limburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 26,000.00
Share: EUR 26,000.00
Reg. data: 05.02.2003
Local court
65549 Limburg
HRB 1872
Shareholder:
Ackermann &
Kurtenbach
Verwaltungsgesellschaft
mbH
Offheimer Weg 45
D 65549 Limburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data:
03.06.2001
Local court
65549 Limburg
HRB 1872
Shareholder:
Textilvertrieb in Europa
Verwaltungs GmbH
Offheimer Weg 45
D 65553 Limburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 12,373.26
Reg. data: 21.06.1995
Local court
65549 Limburg
HRB 1317
Shareholder:
mut Einkaufverband Mode
& Textil
Gesellschaft mit
beschränkter Haftung
D 65553 Limburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 51,129.29
Share: EUR 12,782.32
Reg. data: 18.11.1990
Local court
65549 Limburg
HRB 394
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Am Fleckenberg 2
D 65549 Limburg
Land
register documents were not available.
Principal bank
KREISSPARKASSE LIMBURG, 65534 LIMBURG A D LAHN
Sort. code: 51150018
BIC: HELADEF1LIM
Further banks
NASSAUISCHE SPARKASSE, 65556 LIMBURG A D LAHN
Sort. code: 51050015
BIC: NASSDE55XXX
COMMERZBANK VORMALS DRESDNER BANK, 65534
LIMBURG A D LAHN
Sort. code: 51180041
BIC: DRESDEFF511
VEREINIGTE VOLKSBANK LIMBURG, 65532 LIMBURG A
D LAHN
Sort. code: 51190000
BIC: GENODE51LIM
Turnover: 2013 EUR
18,337,076.00
2014 EUR 18,375,000.00
Profit: 2013 EUR 1,589,990.00
further business figures:
Equipment: EUR 506,695.00
Ac/ts receivable: EUR 4,799,591.00
Liabilities: EUR 6,812,644.00
Total numbers of vehicles: 35
-
Passenger cars:
35
Employees:
105
-
thereof permanent staff: 97
-
Trainees:
4
-
Temporary workers: 4
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 57.31
Liquidity ratio: 4.74
Return on total capital [%]: 11.66
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 60.76
Liquidity ratio: 2.37
Return on total capital [%]: 7.51
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 40.90
Liquidity ratio: 3.70
Return on total capital [%]: 4.68
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 43.16
Liquidity ratio: 10.00
Return on total capital [%]: 5.26
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: 01.01.2013 - 31.12.2013
ASSETS EUR 13,664,484.47
Fixed assets
EUR 3,333,475.67
Intangible assets
EUR 50,347.00
Tangible assets
EUR 506,695.20
Plant / machinery
EUR 7,260.00
Other tangible assets / fixtures and
fittings
EUR 499,435.20
Financial assets
EUR 2,776,433.47
Shares in participations /
subsidiaries and the like
EUR 803,582.55
Shares in related companies
EUR 714,038.26
Shares in cooperatives
EUR 4,100.00
Shares in investee companies
EUR 85,444.29
Securities included in fixed assets
EUR 1,972,850.92
Current assets
EUR 10,323,927.61
Stocks
EUR 3,263,037.83
Raw materials, consumables and
supplies
EUR 10,797.02
Finished goods / work in progress
EUR 3,252,240.81
Accounts receivable
EUR 4,799,591.89
Trade debtors
EUR 2,190,184.74
Amounts due from related companies
EUR 12,815.11
Other debtors and assets
EUR 2,596,592.04
Liquid
means EUR 2,261,297.89
Remaining other assets
EUR 7,081.19
Accruals (assets)
EUR 7,081.19
LIABILITIES EUR 13,664,484.47
Shareholders' equity
EUR 4,297,272.53
Capital
EUR 1,560,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 1,560,000.00
Limited
partner's capital, fixed
capital, capital account I
EUR 1,560,000.00
Reserves
EUR 1,147,282.04
Balance sheet profit/loss (+/-)
EUR 1,589,990.49
Annual surplus / annual deficit
EUR 1,589,990.49
Items between shareholders' equity and
debt capital
EUR 14,306.83
Special items with reserve funds
EUR 14,306.83
Provisions EUR 2,540,260.58
Pension provisions and comparable
provisions
EUR 1,653,079.00
Provisions for taxes
EUR 281,178.00
Other / unspecified provisions
EUR 606,003.58
Liabilities
EUR 6,812,644.53
Other liabilities
EUR 6,812,644.53
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,239,075.79
Liabilities due to shareholders
EUR 3,537,960.98
Liabililties due to related companiesEUR 1,178,603.39
Liabilities due to investee companiesEUR 56,806.85
Unspecified other liabilities
EUR 800,197.52
thereof liabilities from tax /
financial authorities
EUR 299,834.42
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 18,337,076.09
Other operating income
EUR 1,420,438.49
Cost of materials
EUR 12,111,856.18
Raw materials and supplies, purchased
goods
EUR 12,111,856.18
Gross result (+/-)
EUR 7,645,658.40
Staff expenses
EUR 3,502,860.67
Wages and salaries
EUR 2,823,669.15
Social security contributions and
expenses for pension plans and
benefits
EUR 679,191.52
Total depreciation
EUR 191,932.66
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 191,932.66
Other operating expenses
EUR 2,095,697.68
Operating result from continuing
operations
EUR 1,855,167.39
Result from participating interests
(+/-) EUR -383.26
Expenses for participations
EUR 383.26
Expenses for other participations
EUR 383.26
Interest result (+/-)
EUR -13,018.83
Interest
and similar income EUR 82,126.27
Interest and similar expenses
EUR 95,145.10
Other financial result
EUR 13,441.19
Income from securities and loans from
financial assets
EUR 13,441.19
Financial result (+/-)
EUR 39.10
Result from ordinary operations (+/-)
EUR 1,855,206.49
Income tax / refund of income tax (+/-)EUR -260,556.00
Other
taxes / refund of taxes EUR -4,660.00
Tax
(+/-)
EUR -265,216.00
Annual surplus / annual deficit
EUR 1,589,990.49
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 11,890,352.60
Fixed assets
EUR 4,051,374.02
Intangible assets
EUR 53,058.00
Tangible assets
EUR 470,722.20
Plant / machinery
EUR 632.00
Other tangible assets / fixtures and
fittings
EUR 470,090.20
Financial assets
EUR 3,527,593.82
Shares in participations /
subsidiaries and the like
EUR 803,582.55
Shares
in related companies EUR 714,038.26
Shares in cooperatives
EUR 4,100.00
Shares in investee companies
EUR 85,444.29
Securities included in fixed assets
EUR 2,724,011.27
Current assets
EUR 7,824,339.47
Stocks
EUR 2,976,544.84
Raw materials, consumables and
supplies
EUR 8,308.20
Finished goods / work in progress
EUR 2,968,236.64
Accounts receivable
EUR 4,339,741.61
Trade debtors
EUR 2,270,962.48
Amounts due from related companies
EUR 8,436.03
Other debtors and assets EUR 2,060,343.10
Liquid means
EUR 508,053.02
Remaining other assets
EUR 14,639.11
Accruals (assets)
EUR 14,639.11
LIABILITIES EUR 11,890,352.60
Shareholders' equity
EUR 3,598,365.79
Capital
EUR 1,560,000.00
Limited partner's capital / capital
of partially liable partner (LP) EUR 1,560,000.00
Limited partner's capital, fixed
capital, capital account I
EUR 1,560,000.00
Reserves
EUR 1,147,282.04
Balance sheet profit/loss (+/-)
EUR 891,083.75
Annual surplus / annual deficit
EUR 891,083.75
Items between shareholders' equity and
debt capital
EUR 14,306.83
Special
items with reserve funds EUR 14,306.83
Provisions
EUR 2,312,285.60
Pension provisions and comparable
provisions
EUR 1,658,490.00
Provisions for taxes
EUR 121,571.00
Other / unspecified provisions
EUR 532,224.60
Liabilities
EUR 5,965,394.38
Financial debts
EUR 366,586.88
Credits / loans from non-banks
EUR 366,586.88
Other liabilities
EUR 5,598,807.50
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,088,712.25
Liabilities due to shareholders
EUR 3,629,020.02
Liabililties due to related companiesEUR 624,414.85
Liabilities due to investee companiesEUR 56,384.56
Unspecified other liabilities
EUR 200,275.82
thereof liabilities from tax /
financial authorities
EUR 41,366.46
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 17,855,919.39
Other operating income
EUR 1,080,159.59
Cost of materials
EUR 11,574,177.16
Raw materials and supplies, purchased
goods
EUR 11,574,177.16
Gross result (+/-) EUR 7,361,901.82
Staff expenses
EUR 3,443,150.54
Wages and salaries
EUR 2,768,160.75
Social security contributions and
expenses for pension plans and
benefits EUR 674,989.79
Total depreciation
EUR 199,183.47
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 199,183.47
Other operating expenses
EUR 2,549,639.10
Operating result from continuing
operations
EUR 1,169,928.71
Result from participating interests
(+/-)
EUR -227.71
Expenses / income from participations EUR 247.61
Income from related companies
EUR 247.61
Expenses for participations
EUR 475.32
Expenses for other participations
EUR 475.32
Interest result (+/-)
EUR -63,414.50
Interest and similar income
EUR 110,679.90
Interest and similar expenses
EUR 174,094.40
Other financial result
EUR 23,010.25
Income from securities and loans from
financial assets
EUR 23,010.25
Financial result (+/-)
EUR -40,631.96
Result from ordinary operations (+/-)
EUR 1,129,296.75
Income tax / refund of income tax (+/-)EUR -232,993.00
Other taxes / refund of taxes
EUR -5,220.00
Tax
(+/-)
EUR -238,213.00
Annual
surplus / annual deficit EUR 891,083.75
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
|
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.