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MIRA INFORM REPORT
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Report No. : |
502169 |
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Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
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Name : |
POCO SERVICE AG |
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Registered Office : |
Industriestr. 17, D 59192 Bergkamen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
01.10.1996 |
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Com. Reg. No.: |
HRB 5064 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
· Buying and selling of own commercial property and non-residential buildings · Renting and operating of own or leased real estate · Management of holding companies · Other business support service activities n. e. c. |
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No. of Employees : |
230 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 a large increase in 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 economic 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. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.
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 2017 Germany reached a budget surplus of 0.7%. 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 during 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 largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, 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. Domestic consumption, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.
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Source
: CIA |
Company name and address
POCO SERVICE AG
Company Status: Active
Industriestr. 17
D 59192 Bergkamen
Telephone:02389/98010
Telefax: 02389/980257
Homepage: www.Poco.de
E-mail: info@poco.de
VAT no.
DE125222713
Company Summary
LEGAL FORM Public limited company
Date of foundation: 01.10.1996
Registered on: 05.06.2002
Commercial Register: Local court 59065 Hamm
under: HRB 5064
Share capital
EUR 100,000.00
Shareholder:
POCO Einrichtungsmärkte GmbH
Industriestr. 39
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 38,000,000.00
Share: 100.000 %
Registered on: 11.07.1995
Reg. data: 59065 Hamm, HRB 4743
Member of the Board of Directors:
Dr. Hans-Ralf Großkord
D 30159 Hannover
born: 04.08.1958
Profession: Businessman
Marital status: married
Member of the Board of Directors:
Thomas Stolletz
D 59192 Bergkamen
born: 04.09.1958
Profession: Businessman
Marital status: unknown
President of the Supervisory Board:
Peter Pohlmann
Vinzenzstr. 13
D 59368 Werne
born: 05.03.1943
Profession: Businessman
Property regime: Separation of property
Marital status: married
Member of the Supervisory Board:
Helmut Reitz
Hermann-Föge-Weg 2
D 37073 Göttingen
born: 07.03.1944
Profession: Businessman
Marital status: married
Member of the Supervisory Board:
Dirk Schreiber
Zum Hubertus 2
D 27801 Dötlingen
born: 22.07.1971
Marital status: unknown
Proxy:
Heiko Pollok
D 37073 Göttingen
authorized to jointly represent the company
born: 19.03.1950
Proxy:
Volker Matzke
D 59394 Nordkirchen
authorized to jointly represent the company
born: 27.05.1965
Marital status: single
Proxy:
Angela Jürgensen
D 31028 Gronau
authorized to jointly represent the company
born: 07.06.1964
Profession: tax advisor and anditor
Proxy:
Dr. Friedhelm Rudolph
D 37073 Göttingen
authorized to jointly represent the company
born: 01.12.1961
Profession: Clerk
Proxy:
Klaus Herzog
D 48308 Senden
authorized to jointly represent the company
born: 21.02.1963
Proxy:
Stephan Sielhorst
D 37170 Uslar
authorized to jointly represent the company
born: 28.07.1971
Proxy:
Jürgen Hildebrandt
D 33775 Versmold
authorized to jointly represent the company
born: 17.09.1962
Proxy:
Thomas Kurz
D 46045 Oberhausen
authorized to jointly represent the company
born: 19.09.1962
Proxy:
Joachim Engelhardt
D 37181 Hardegsen
authorized to jointly represent the company
born: 13.10.1964
Further functions/participations of Dr. Hans-Ralf Großkord
(Member of the Board of Directors)
Limited partner:
Großmarkthalle Dresden GmbH & Co. KG
Schulstr. 2
D 37181 Hardegsen
Legal form: Ltd partnership with priv. ltd.
company as general partner
Total cap. EUR 30,000.00
contribution:
Share: EUR 5,000.00
Registered
on: 27.11.2001
Reg. data: 37073 Göttingen, HRA 130396
Manager:
POCO Immobiliengesellschaft Berlin mbH
Industriestr. 39
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 26,000.00
Registered
on: 09.08.2016
Reg. data: 59065 Hamm, HRB 8886
Manager:
Domäne Gruppe Management GmbH
Schulstr. 2
D 37181 Hardegsen
Post Box:
12 55
Legal form: Private limited company
Share capital: EUR 30,000.00
Registered
on: 23.02.1996
Reg. data: 37073 Göttingen, HRB 130350
Manager:
POCO Immobiliengesellschaft Wuppertal mbH
Industriestr. 17
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 250,000.00
Registered
on: 17.11.2005
Reg. data: 59065 Hamm, HRB 5516
Manager:
POCO-Domäne Immobilien Holding GmbH
Industriestr. 17
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 48,000,000.00
Registered
on: 17.11.2005
Reg. data: 59065 Hamm, HRB 5517
Manager:
POCO Immobilien GmbH
Industriestr. 17
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 250,000.00
Registered
on: 28.08.2007
Reg. data: 59065 Hamm, HRB 6012
Manager:
POCO Einrichtungsmärkte GmbH
Industriestr. 39
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 38,000,000.00
Registered
on: 11.07.1995
Reg. data: 59065 Hamm, HRB 4743
Further functions/participations of Thomas Stolletz (Member of
the Board of Directors)
Shareholder:
Möbel-Unger Handels GmbH Mainz
Am Moosfeld 3
D 81829 München
Legal form: Private limited company
dissolved by official decree
Share capital: EUR 102,258.38
Share: EUR 3,067.75
Registered
on: 07.08.1997
Reg. data: 55116 Mainz, HRB 6298
Manager:
POCO Immobiliengesellschaft Berlin mbH
Industriestr. 39
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 26,000.00
Registered
on: 09.08.2016
Reg. data: 59065 Hamm, HRB 8886
Manager:
Großmarkthalle Dresden Verwaltungs GmbH
Schulstr. 2 + 5
D 37181 Hardegsen
Legal form: Private limited company
Share capital: EUR 30,000.00
Registered
on: 19.07.1995
Reg. data: 37073 Göttingen, HRB 130334
Manager:
POCO Einrichtungsmärkte GmbH
Industriestr. 39
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 38,000,000.00
Registered
on: 11.07.1995
Reg. data: 59065 Hamm, HRB 4743
Manager:
POCO-Domäne Immobilien Holding GmbH
Industriestr. 17
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 48,000,000.00
Registered
on: 17.11.2005
Reg. data: 59065 Hamm, HRB 5517
Manager:
POCO Immobiliengesellschaft Wuppertal mbH
Industriestr. 17
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 250,000.00
Registered
on: 17.11.2005
Reg. data: 59065 Hamm, HRB 5516
Manager:
POCO Immobilien GmbH
Industriestr. 17
D 59192 Bergkamen
Legal form: Private limited company
Share capital: EUR 250,000.00
Registered
on: 28.08.2007
Reg. data: 59065 Hamm, HRB 6012
Manager:
Domäne Gruppe Management GmbH
Schulstr. 2
D 37181 Hardegsen
Post Box:
12 55
Legal form: Private limited company
Share capital: EUR 30,000.00
Registered
on: 23.02.1996
Reg. data: 37073 Göttingen, HRB 130350
COMPANY HISTORY
Company name and legal form
08.12.2000 - 05.06.2002 Poco Service GmbH
Industriestr. 17
D 59192 Bergkamen
Private limited company
01.10.1996 - 08.12.2000 QUADRO Logistik und Beratungs GmbH
Industriestr. 17
D 59192 Bergkamen
Private limited company
BUSINESS ACTIVITIES
Main industrial sector
68102 Buying and selling of own commercial property and non-residential buildings
6820 Renting and operating of own or leased real estate
70101 Management of holding companies
8299 Other business support service activities n. e. c.
BRANCHES AND FACTORIES
Branch:
POCO Service AG
Schulstr. 2-5
D 37181 Hardegsen
TEL.: 05505/502-0
Branch:
POCO Service AG
Industriestr. 40
D 59192 Bergkamen
PARTICIPATIONS
Limited partner:
POCO Immobilien GmbH & Co. Vermietungs KG
Emy-Roeder-Str. 2
D 55129 Mainz
Legal form: Ltd partnership with priv. ltd.
company as general partner
Company Status: active
Total cap. EUR 250,000.00
contribution:
Share: EUR 250,000.00
Reg. data: 19.01.2005
Local court 55116 Mainz
HRA 4398
Limited partner:
VR-LEASING POCO GmbH & Co. Immobilien KG
Hauptstr. 131-137
D 65760 Eschborn
Legal form: Ltd partnership with priv. ltd.
company as general partner
Company Status: active
Total cap. EUR 15,000.00
contribution:
Share: EUR 15,000.00
Reg. data: 28.10.2005
Local court 60313 Frankfurt
HRA 42722
Limited partner:
POHACONO GmbH & Co. Immobilien KG
Hauptstr. 131-137
D 65760 Eschborn
Legal form: Ltd partnership with priv. ltd.
company as general partner
Company Status: active
Total cap. EUR 5,000.00
contribution:
Share: EUR 5,000.00
Reg. data: 22.12.2000
Local court 60313 Frankfurt
HRA 29812
FINANCIAL INFORMATION
Payment experience: within periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL ESTATE
Type of ownership: Proprietor
Share: 100.00 %
Address Industriestr. 17
D 59192 Bergkamen
Value at selling price: EUR 1,000,000.00
Real Estate of: Dr. Hans-Ralf Großkord
Type of ownership: Unknown
Address Industriestr. 17
D 59192 Bergkamen
Land register documents were not available.
BANKERS
Principal bank
COMMERZBANK, 44047 DORTMUND
Sort. code: 44040037, Account no.: 3251428
BIC: COBADEFFXXX, IBAN: DE38440400370325142800
Further bank
DZ BANK, 40001 DÜSSELDORF
Sort. code: 30060010, Account no.: 134666
BIC: GENODEDDXXX, IBAN: DE37300600100000134666
FINANCIAL FIGURES
Turnover: 2016 EUR 104,396,505.00
2017 *EUR 105,000,000.00
Profit: 2016 EUR 121,188.00
further business
figures:
Equipment: EUR 1,596,061.00
Ac/ts
receivable:
EUR 880,577.00
Liabilities: EUR 14,919,713.00
Real estate of the
firm: EUR 1,901,747.00
Total numbers of
vehicles:
10
Employees:
230
- thereof permanent
staff: 230
The business figures marked with an asterisk are estimates based on average values in the line of business.
BALANCE SHEETS
Balance sheet ratios
01.01.2016 - 31.12.2016
Equity ratio
[%]: 15.44
Liquidity
ratio: 0.06
Return on total
capital [%]: 0.51
Balance sheet ratios
01.01.2015 - 31.12.2015
Equity ratio
[%]: 17.83
Liquidity
ratio: 0.10
Return on total
capital [%]: 1.98
Balance sheet ratios
01.01.2014 - 31.12.2014
Equity ratio
[%]: 14.40
Liquidity
ratio: 0.26
Return on total
capital [%]: 1.62
Balance sheet ratios
01.01.2013 - 31.12.2013
Equity ratio
[%]: 15.56
Liquidity
ratio: 0.26
Return on total
capital [%]: 2.49
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: 01.01.2016 - 31.12.2016
ASSETS EUR 23,815,986.95
Fixed assets EUR 5,900,947.81
Intangible assets EUR 1,744,779.95
Concessions, licences, rights EUR 1,162,183.53
Advance payments for intang. assets EUR
582,596.42
Tangible assets EUR 3,603,857.06
Land / similar rights EUR 1,901,747.00
Other tangible assets / fixtures and
fittings EUR 1,596,060.72
Advance payments made / construction
in progress EUR 106,049.34
Financial assets EUR 552,310.80
Shares in participations /
subsidiaries and the like EUR 326,000.00
Shares in related companies EUR 326,000.00
Other loans EUR 226,310.80
Current assets EUR 17,846,094.73
Stocks EUR 16,748,602.38
Raw materials, consumables and
supplies EUR 702.54
Finished goods / work in progress EUR
16,747,899.84
Accounts receivable EUR 880,577.34
Trade debtors EUR 7,999.98
Amounts due from related companies EUR 605,830.02
Other debtors and assets EUR 266,747.34
Liquid means EUR 216,915.01
Remaining other assets EUR 68,944.41
Accruals (assets) EUR 68,944.41
LIABILITIES EUR 23,815,986.95
Shareholders' equity EUR 3,676,114.37
Capital EUR 100,000.00
Subscribed capital (share capital) EUR 100,000.00
Reserves EUR 10,000.00
Retained earnings / revenue reserves
EUR 10,000.00
Balance sheet profit/loss (+/-) EUR 3,566,114.37
Balance sheet profit / loss EUR 3,566,114.37
Provisions EUR 4,864,160.00
Provisions for taxes EUR 162,100.00
Other / unspecified provisions EUR 4,702,060.00
Liabilities EUR 14,919,712.58
Other liabilities EUR 14,919,712.58
Trade creditors (for IAS incl. bills
of exchange) EUR 7,663,534.92
Liabililties due to related
companiesEUR 6,931,610.98
Unspecified other liabilities EUR 324,566.68
Other liabilities EUR 356,000.00
Deferred taxes (not included under
provisions/liabilities) EUR 356,000.00
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 104,396,505.08
Other operating income EUR 1,071,415.71
Cost of materials EUR 76,057,715.49
Raw materials and supplies, purchased
goods EUR 68,799,687.64
Purchased services EUR 7,258,027.85
Gross result (+/-) EUR 29,410,205.30
Staff expenses EUR 17,598,420.88
Wages and salaries EUR 15,404,513.44
Social security contributions and
expenses for pension plans and
benefits
EUR 2,193,907.44
Total depreciation EUR 2,103,807.03
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 2,103,807.03
Other operating expenses EUR 8,965,121.01
Operating result from continuing
operations EUR 742,856.38
Result from participating interests
(+/-) EUR 41,836.94
Expenses / income from participations
EUR 41,836.94
Income from related companies EUR 41,836.94
Interest result (+/-) EUR -107,667.29
Interest and similar expenses EUR 107,667.29
Financial result (+/-) EUR -65,830.35
Result from ordinary operations (+/-) EUR
677,026.03
Income tax / refund of income tax
(+/-)EUR -461,743.38
Other taxes / refund of taxes EUR -94,095.07
Tax (+/-) EUR -555,838.45
Annual surplus / annual deficit EUR 121,187.58
Type of balance
sheet: Company balance sheet
Origin of the
present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2015 - 31.12.2015
ASSETS EUR 19,936,977.04
Fixed assets EUR 5,674,039.45
Intangible assets EUR 1,285,001.22
Concessions, licences, rights EUR 730,008.53
Advance payments for intang. assets EUR
554,992.69
Tangible assets EUR 3,855,387.67
Land / similar rights EUR 1,810,685.00
Other tangible assets / fixtures and
fittings EUR 2,022,879.79
Advance payments made / construction
in progress EUR 21,822.88
Financial assets EUR 533,650.56
Shares in participations /
subsidiaries and the like EUR 326,000.00
Shares in related companies EUR 326,000.00
Other loans EUR 207,650.56
Current assets EUR 14,141,569.69
Stocks EUR 12,191,976.85
Raw materials, consumables and
supplies EUR 43,086.82
Finished goods / work in progress EUR
12,148,890.03
Accounts receivable EUR 1,111,235.42
Trade debtors EUR 42,958.99
Amounts due from related companies EUR 540,861.15
Other debtors and assets EUR 527,415.28
Liquid means EUR 838,357.42
Remaining other assets EUR 121,367.90
Accruals (assets) EUR 121,367.90
LIABILITIES EUR 19,936,977.04
Shareholders' equity EUR 3,554,926.79
Capital EUR 100,000.00
Subscribed capital (share capital) EUR 100,000.00
Reserves EUR 10,000.00
Retained earnings / revenue reserves
EUR 10,000.00
Balance sheet profit/loss (+/-) EUR 3,444,926.79
Balance sheet profit / loss EUR 3,444,926.79
Provisions EUR 4,287,836.34
Provisions for taxes EUR 39,200.00
Other / unspecified provisions EUR 4,248,636.34
Liabilities EUR 11,752,813.91
Other liabilities EUR 11,752,813.91
Trade creditors (for IAS incl. bills
of exchange) EUR 4,683,236.00
Liabililties due to related
companiesEUR 6,218,053.16
Unspecified other liabilities EUR 851,524.75
Other liabilities EUR 341,400.00
Deferred taxes (not included under
provisions/liabilities) EUR 341,400.00
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 87,992,731.79
Other operating income EUR 10,420,423.42
Cost of materials EUR 64,256,920.65
Raw materials and supplies, purchased
goods EUR 64,256,920.65
Gross result (+/-) EUR 34,156,234.56
Staff expenses EUR 16,912,416.36
Wages and salaries EUR 14,830,828.53
Social security contributions and
expenses for pension plans and
benefits EUR 2,081,587.83
Total depreciation EUR
2,029,663.60
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 2,029,663.60
Other operating expenses EUR 14,626,606.20
Operating result from continuing
operations EUR 587,548.40
Result from participating interests
(+/-) EUR 39,427.06
Expenses / income from participations
EUR 39,427.06
Income from related companies EUR 39,427.06
Interest result (+/-) EUR -133,991.06
Interest and similar expenses EUR 133,991.06
Financial result (+/-) EUR -94,564.00
Result from ordinary operations (+/-) EUR
492,984.40
Income tax / refund of income tax
(+/-)EUR -34,278.67
Other taxes / refund of taxes EUR -64,396.42
Tax (+/-) EUR -98,675.09
Annual surplus / annual deficit EUR 394,309.31
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.02 |
|
|
1 |
INR 91.46 |
|
Euro |
1 |
INR 80.09 |
|
EUR |
1 |
INR 79.77 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.