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Report No. : |
342274 |
|
Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SÖRING GMBH |
|
|
|
|
Registered Office : |
Justus-von-Liebig-Ring 2, D 25451
Quickborn |
|
|
|
|
Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
27.01.1989 |
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|
|
|
Com. Reg. No.: |
HRB 2647 PI |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
·
Manufacture
of Irradiation, Electromedical and Electrotherapeutic Equipment. · Wholesale of Medical and Orthopedic Goods, Dental and Laboratory Supplies |
|
|
|
|
No. of Employees : |
151 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 |
|
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 |
SÖRING
GMBH
Company Status: active
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Telephone:04106/6100-0
Telefax: 04106/6100-10
Homepage: www.soering.com
E-mail: info@soering.com
VAT
No.: DE134802662
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 27.01.1989
Begin of business
activities: 27.01.1989
Shareholders'
agreement: 27.01.1989
Registered on: 07.03.1989
Commercial Register: Local court 25421 Pinneberg
under: HRB
2647 PI
EUR 255,645.94
Shareholder:
Söring Holding GmbH
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Private
limited company
Share capital: EUR 51,000.00
Share: EUR 255,645.94
Registered on: 11.11.2014
Reg. data: 25421
Pinneberg, HRB 11579 PI
Manager:
Anna Katharina Söring
Wilhelm-Drexelius-Weg 4
D 22307 Hamburg
having sole power of
representation
born: 25.07.1986
Proxy:
Hans-Ulrich Lohfeld
D 20095 Hamburg
having sole power of
representation
born: 24.01.1960
Proxy:
Volker Mohr
D 24568 Nützen
having sole power of
representation
born: 06.09.1961
Proxy:
Harald Beyer
D 22527 Hamburg
having sole power of
representation
born: 13.12.1957
Further functions/participations of Anna
Katharina Söring
(Manager)
Shareholder:
Söring management GmbH
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Private
limited company
Share capital: EUR 27,000.00
Share: EUR 9,000.00
Registered
on: 07.10.2009
Reg. data: 25421 Pinneberg, HRB 8261 PI
Manager:
Söring management GmbH
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Private limited
company
Share capital: EUR 27,000.00
Registered
on: 07.10.2009
Reg. data: 25421 Pinneberg, HRB 8261 PI
Manager:
Söring Holding GmbH
Justus-von-Liebig-Ring 2
D 25451 Quickborn
Legal form: Private
limited company
Share capital: EUR 51,000.00
Registered
on: 11.11.2014
Reg. data: 25421 Pinneberg, HRB 11579 PI
28.02.2011 - 12.03.2013 Manager
Natali Salcenko
D 25524 Itzehoe
Main industrial sector
26600
Manufacture of irradiation, electromedical and electrotherapeutic
equipment
46462
Wholesale of medical and orthopedic goods, dental and laboratory
supplies
Shareholder:
UniTransferKlinik Lübeck
GmbH
Maria-Goeppert-Str. 1
D 23562 Lübeck
Legal form: Private
limited company
Company Status: active
Share capital: EUR 170,000.00
Share: EUR 10,000.00
Reg. data: 08.04.2002
Local court
23568 Lübeck
HRB 5331 HL
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
Type of ownership: Proprietor
Share: 100.00 %
Address Justus-von-Liebig-Ring
2
D 25451 Quickborn
Land register documents were not available.
COMMERZBANK VORMALS DRESDNER BANK, 25442
QUICKBORN, KR PINNEBERG
Sort. code: 20080000
BIC: DRESDEFF200
COMMERZBANK,
25451 QUICKBORN, KR PINNEBERG
Sort. code: 20040000
BIC: COBADEHHXXX
Gross profit or loss:2013 EUR 15,580,033.00
2014 EUR 15,000,000.00
Profit: 2013 EUR 436,319.00
further business figures:
Equipment: EUR 761,370.00
Ac/ts receivable: EUR 3,797,040.00
Liabilities: EUR 5,478,167.00
Employees:
151
-
Trainees:
7
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 58.50
Liquidity ratio: 0.73
Return on total capital [%]: 2.44
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 58.46
Liquidity ratio: 1.74
Return on total capital [%]: 17.07
Balance
sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 52.82
Liquidity ratio: 2.94
Return on total capital [%]: 11.64
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 54.47
Liquidity ratio: 1.29
Return on total capital [%]: 13.69
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 18,015,294.48
Fixed
assets EUR 8,983,443.85
Intangible assets
EUR 290,556.00
Concessions, licences, rights
EUR 290,556.00
Tangible assets
EUR 5,345,404.44
Land / similar rights
EUR 4,314,042.44
Plant / machinery
EUR 269,992.00
Other tangible assets / fixtures and
fittings
EUR 761,370.00
Financial
assets EUR 3,347,483.41
Shares in participations /
subsidiaries and the like
EUR 10,151.00
Shares in related companies
EUR 151.00
Shares in investee companies
EUR 10,000.00
Loans to participations /
subsidiaries and the like
EUR 3,337,332.41
Loans to related companies
EUR 3,337,332.41
Current assets
EUR 8,889,473.13
Stocks
EUR 4,690,477.31
Raw materials, consumables and
supplies
EUR 1,427,802.52
Finished goods / work in progress
EUR 3,262,674.79
Accounts receivable
EUR 3,797,039.98
Trade debtors
EUR 2,951,965.63
Amounts due from related companies
EUR 214,392.11
Other debtors and assets
EUR 630,682.24
Liquid means
EUR 401,955.84
Remaining other assets
EUR 142,377.50
Accruals (assets)
EUR 142,377.50
LIABILITIES EUR 18,015,294.48
Shareholders' equity
EUR 10,584,812.15
Capital
EUR 255,645.94
Subscribed capital (share capital)
EUR 255,645.94
Balance sheet profit/loss (+/-)
EUR 10,329,166.21
Profit / loss brought forward
EUR 9,910,181.61
Annual surplus / annual deficit
EUR 418,984.60
Items between shareholders' equity and
debt capital
EUR 163,615.41
Mezzanine financing
EUR 163,615.41
Contributions of silent partners
EUR 163,615.41
Provisions
EUR 1,788,700.00
Provisions for taxes EUR 403,100.00
Other / unspecified provisions
EUR 1,385,600.00
Liabilities
EUR 5,478,166.92
Financial debts
EUR 3,588,139.26
Liabilities due to banks
EUR 3,588,139.26
Other liabilities
EUR 1,890,027.66
Trade creditors (for IAS incl. bills
of exchange)
EUR 553,667.36
Liabililties due to related companiesEUR 900,000.00
Unspecified other liabilities
EUR 436,360.30
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 15,580,032.94
Staff
expenses EUR 8,076,558.71
Wages and salaries
EUR 6,856,366.63
Social security contributions and
expenses for pension plans and
benefits
EUR 1,220,192.08
Total depreciation
EUR 577,062.42
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 577,062.42
Other operating expenses EUR 6,179,612.67
Operating result from continuing
operations
EUR 746,799.14
Interest result (+/-)
EUR -119,249.47
Interest and similar income
EUR 55,100.34
Interest and similar expenses
EUR 174,349.81
Financial result (+/-)
EUR -119,249.47
Result from ordinary operations (+/-)
EUR 627,549.67
Expenses for transfer of profits to a
parent company
EUR 17,333.60
Income tax / refund of income tax (+/-)EUR -170,661.49
Other taxes / refund of taxes
EUR -20,569.98
Tax
(+/-)
EUR -191,231.47
Annual surplus / annual deficit
EUR 418,984.60
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 17,291,458.66
Fixed assets
EUR 8,141,733.15
Intangible assets
EUR 169,260.00
Concessions, licences, rights
EUR 169,260.00
Tangible assets
EUR 5,207,276.94
Land / similar rights
EUR 4,317,916.94
Plant / machinery
EUR 273,064.00
Other tangible assets / fixtures and
fittings
EUR 491,524.00
Advance payments made / construction
in progress
EUR 124,772.00
Financial assets
EUR 2,765,196.21
Shares in participations /
subsidiaries and the like
EUR 10,151.00
Shares in related companies
EUR 151.00
Shares in investee companies
EUR 10,000.00
Loans to participations /
subsidiaries and the like
EUR 2,755,045.21
Loans to related companies
EUR 2,755,045.21
Current assets
EUR 9,064,666.67
Stocks
EUR 2,458,914.21
Raw materials, consumables and
supplies
EUR 709,839.60
Finished goods / work in progress
EUR 1,749,074.61
Accounts receivable
EUR 4,022,919.23
Trade debtors
EUR 3,821,315.27
Amounts due from related companies
EUR 178,819.14
Other debtors and assets
EUR 22,784.82
Liquid means
EUR 2,582,833.23
Remaining other assets
EUR 85,058.84
Accruals (assets)
EUR 85,058.84
LIABILITIES EUR 17,291,458.66
Shareholders' equity EUR 10,165,827.55
Capital
EUR 255,645.94
Subscribed capital (share capital)
EUR 255,645.94
Balance sheet profit/loss (+/-)
EUR 9,910,181.61
Profit / loss brought forward
EUR 7,020,587.99
Annual surplus / annual deficit
EUR 2,889,593.62
Items between shareholders' equity and
debt capital
EUR 245,422.11
Mezzanine financing EUR 245,422.11
Contributions of silent partners
EUR 245,422.11
Provisions
EUR 2,061,239.25
Provisions for taxes
EUR 644,639.25
Other / unspecified provisions
EUR 1,416,600.00
Liabilities
EUR 4,818,969.75
Financial debts
EUR 3,554,058.28
Liabilities due to banks
EUR 3,554,058.28
Other liabilities
EUR 1,264,911.47
Trade creditors (for IAS incl. bills
of exchange)
EUR 765,549.08
Unspecified other liabilities
EUR 499,362.39
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 18,841,057.65
Staff expenses
EUR 7,504,017.71
Wages and salaries
EUR 6,437,590.01
Social security contributions and
expenses for pension plans and
benefits
EUR 1,066,427.70
Total depreciation
EUR 535,635.90
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 535,635.90
Other operating expenses
EUR 6,620,665.11
Operating result from continuing
operations EUR 4,180,738.93
Interest result (+/-)
EUR -186,698.38
Interest and similar income
EUR 11,048.88
Interest and similar expenses
EUR 197,747.26
Financial result (+/-)
EUR -186,698.38
Result from ordinary operations (+/-)
EUR 3,994,040.55
Expenses for transfer of profits to a
parent company
EUR 38,478.15
Income tax / refund of income tax (+/-)EUR -1,045,950.71
Other taxes / refund of taxes
EUR -20,018.07
Tax
(+/-)
EUR -1,065,968.78
Annual surplus / annual deficit
EUR 2,889,593.62
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.63 |
|
|
1 |
Rs.101.73 |
|
Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.