|
Report No. : |
338513 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOENIG LEATHERWEAR GMBH |
|
|
|
|
Registered Office : |
Bierstadter Str. 1 D 65189 Wiesbaden |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of Establishment : |
1981 |
|
|
|
|
Com. Reg. No.: |
HRB 12863 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
47 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 |
KOENIG LEATHERWEAR GMBH
Bierstadter
Str. 1
D 65189
Wiesbaden
Telephone:0611/33340
Telefax: 0611/3334444
Homepage:
www.koenig-leatherwear.de
E-mail: info@koenig-leatherwear.de
Active
DE219110724
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1981
Shareholders'
agreement: 13.11.2001
Registered on: 18.12.2001
Commercial Register: Local court 65189 Wiesbaden
under: HRB
12863
Share capital: EUR 2,000,000.00
Shareholder:
Koenig Grundstücks GmbH
& Co. KG
Bierstadter Str. 1
D 65189 Wiesbaden
Post Box:
36 67, D 65026 Wiesbaden
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 50,000.00
contribution:
Share: EUR 2,000,000.00
Registered on: 27.12.2001
Reg. data: 65189 Wiesbaden,
HRA 4911
Manager:
Florian W. König
Kettelerstr. 19
D 65193 Wiesbaden
having sole power of
representation
born: 10.09.1945
Profession: Businessman
Marital status: married
Manager:
Nina Koenig
D 65183 Wiesbaden
having sole power of
representation
born: 23.07.1979
Proxy:
Joachim Ebling
D 55232 Alzey
authorized to jointly
represent the company
born: 21.05.1956
Proxy:
Roland Heil
D 61462 Königstein
authorized to jointly
represent the company
born: 07.04.1949
Further functions/participations of Florian W.
König (Manager)
Limited partner:
Koenig Grundstücks GmbH
& Co. KG
Bierstadter Str. 1
D 65189 Wiesbaden
Post Box:
36 67, D 65026 Wiesbaden
Legal form: Ltd
partnership with priv. ltd.
company as general partner
Total cap. EUR 50,000.00
contribution:
Share: EUR 35,000.00
Registered
on:
27.12.2001
Reg. data: 65189 Wiesbaden, HRA 4911
Manager:
Koenig
Grundstücksverwaltung GmbH
Bierstadter Str. 1
D 65189 Wiesbaden
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 27.12.2001
Reg. data: 65189 Wiesbaden, HRB 12872
Further functions/participations of Nina
Koenig (Manager)
Limited partner:
Koenig Grundstücks GmbH
& Co. KG
Bierstadter Str. 1
D 65189 Wiesbaden
Post Box:
36 67, D 65026 Wiesbaden
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 50,000.00
contribution:
Share: EUR 7,500.00
Registered
on: 27.12.2001
Reg. data: 65189 Wiesbaden, HRA 4911
14.08.1981 - 31.08.1990 Florian W. König Groß- und Außenhandel
Kaiser-Friedrich-Ring
88
D 65185 Wiesbaden
Sole proprietorship
01.09.1990 - 12.11.2001 Florian W. König Groß- und Außenhandel
Bierstadter Str. 1
D 65189 Wiesbaden
Sole proprietorship
Main industrial sector
4642 Wholesale of clothing and footwear
46493 Wholesale of leather goods, luggage,
giftware and advertising articles
47722 Retail sale of leatheware and baggage
Payment
experience: cash discount/within agreed
terms
Negative information: We have no negative
information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Bierstadter Str. 1
D 65189 Wiesbaden
Land register documents were not available.
DEUTSCHE BANK, 65011 WIESBADEN
Sort. code: 51070021
BIC: DEUTDEFF510
UNICREDIT BANK - HYPOVEREINSBANK, 65004
WIESBADEN
Sort. code: 51020186
BIC: HYVEDEMM478
Gross profit or loss:2013 EUR 4,360,749.00
Profit: 2013 EUR -497,419.00
Equipment: EUR 110,991.00
Ac/ts receivable: EUR 4,039,193.00
Liabilities: EUR 447,897.00
Employees: 47
- thereof permanent staff: 31
- Part-time employees: 11
- Trainees:
5
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 87.30
Liquidity ratio: 9.77
Return on total capital [%]: -8.83
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 84.11
Liquidity ratio: 5.97
Return on total capital [%]: -15.28
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 76.19
Liquidity ratio: 2.29
Return on total capital [%]: -0.86
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 76.86
Liquidity ratio: 5.28
Return on total capital [%]: 8.37
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
Financial year: 01.01.2013
- 31.12.2013
ASSETS
EUR 5,636,016.07
Fixed assets EUR 114,069.00
Intangible assets EUR 3,078.00
Tangible assets EUR 110,991.00
Other
tangible assets / fixtures and
fittings EUR 110,991.00
Current assets EUR 5,446,394.56
Stocks EUR 1,372,830.98
Accounts receivable EUR 4,039,192.50
Liquid means EUR 34,371.08
Remaining other assets EUR 75,552.51
Accruals (assets) EUR 75,552.51
LIABILITIES EUR 5,636,016.07
Shareholders' equity EUR 4,920,319.38
Capital EUR 2,000,000.00
Subscribed capital (share capital) EUR
2,000,000.00
Reserves EUR 612,012.49
Capital reserves EUR 612,012.49
Balance sheet profit/loss (+/-) EUR 2,308,306.89
Profit / loss brought forward EUR 2,805,725.49
Annual surplus / annual deficit EUR -497,418.60
Provisions EUR 267,800.00
Liabilities EUR 447,896.69
Financial debts EUR 70,286.41
Liabilities due to banks EUR 70,286.41
Other liabilities EUR 377,610.28
Unspecified other liabilities EUR 377,610.28
Guarantees and other commitments EUR 763,413.50
Sureties / lendings of
creditworthiness EUR 763,413.50
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 4,360,748.51
Staff expenses EUR 1,955,230.76
Wages and salaries EUR 1,687,754.63
Social security contributions and
expenses for pension plans and
benefits EUR 267,476.13
Total depreciation EUR 63,974.61
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 63,974.61
Other operating expenses EUR 2,884,185.48
Operating result from continuing
operations EUR -542,642.34
Interest result (+/-) EUR 46,503.49
Interest and similar income EUR 54,161.42
thereof from related companies EUR 46,073.00
Interest and similar expenses EUR 7,657.93
Financial result (+/-) EUR 46,503.49
Result from ordinary operations (+/-) EUR
-496,138.85
Income tax / refund of income tax
(+/-)EUR 28.97
Other taxes / refund of taxes EUR -1,308.72
Tax (+/-) EUR -1,279.75
Annual surplus / annual deficit EUR -497,418.60
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 6,651,933.97
Fixed assets EUR 143,962.00
Intangible assets EUR 6,392.00
Other / unspecified intangible
assetsEUR 6,392.00
Tangible assets EUR 137,570.00
Other tangible assets / fixtures and
fittings EUR 137,570.00
Current assets EUR 6,473,395.81
Stocks EUR 2,312,436.74
Accounts receivable EUR 4,146,011.90
Other debtors and assets EUR 4,146,011.90
Liquid means EUR 14,947.17
Remaining other assets EUR 34,576.16
Accruals (assets) EUR 34,576.16
LIABILITIES EUR 6,651,933.97
Shareholders' equity EUR 5,417,737.98
Capital EUR 2,000,000.00
Subscribed capital (share capital) EUR
2,000,000.00
Reserves EUR 612,012.49
Capital reserves EUR 612,012.49
Balance sheet profit/loss (+/-) EUR 2,805,725.49
Profit / loss brought forward EUR 3,821,554.14
Annual surplus / annual deficit EUR -1,015,828.65
Provisions EUR 347,000.00
Liabilities EUR 887,195.99
Financial debts EUR 142,684.26
Liabilities due to banks EUR 142,684.26
Other liabilities EUR 744,511.73
Liabilities due to investee
companiesEUR 178,013.90
Unspecified other liabilities EUR 566,497.83
Guarantees and other commitments EUR 368,744.73
Sureties / lendings of
creditworthiness EUR 368,744.73
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 4,849,787.77
Staff expenses EUR 2,049,733.02
Wages and salaries EUR 1,778,346.24
Social security contributions and
expenses for pension plans and
benefits EUR 271,386.78
Total depreciation EUR 183,392.90
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 183,392.90
Other operating expenses EUR 3,675,827.86
Operating result from continuing
operations EUR -1,059,166.01
Interest result (+/-) EUR 48,509.90
Interest and similar income EUR 82,865.36
thereof from related companies EUR
67,171.00
Interest and similar expenses EUR 34,355.46
Financial result (+/-) EUR 48,509.90
Result from ordinary operations (+/-) EUR
-1,010,656.11
Income tax / refund of income tax (+/-)EUR -290.11
Other taxes / refund of taxes EUR -4,882.43
Tax (+/-) EUR -5,172.54
Annual surplus / annual deficit
EUR -1,015,828.65
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
UK Pound |
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
VNT |
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.