MIRA INFORM REPORT

 

 

Report No. :

501780

Report Date :

04.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

WILLY BENECKE GMBH

 

 

Registered Office :

Hovestr. 41, D 20539 Hamburg

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

1954

 

 

Com. Reg. No.:

HRB 72763

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Wholesale of Pharmaceutical Goods.

·         Non-specialized wholesale of raw materials and half-finished and finished goods.

 

 

No. of Employees :

13

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

 

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

 

Status :

Satisfactory

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Germany

A1

A1

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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.

 

Source : CIA

 

 

Company name and Address

 

WILLY BENECKE GMBH

 

Company Status:      Active

                      Hovestr. 41

                      D 20539 Hamburg

                      Telephone:040/7804440

                      Telefax:  040/78044433

                      Homepage: www.willy-benecke.com

                      E-mail:   info@willy-benecke.com

 

VAT no.:             DE118402686

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company Summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      1954

 Shareholders'

 agreement:                   10.06.1999

 Registered on:             29.09.1999

 Commercial Register:   Local court 20355 Hamburg

 under:                          HRB 72763

 

 

Share capital                     

 

EUR                                         252,000.00

 

 Shareholder:

                      Thorsten Hauser

                      Hebbelstr. 11c

                      D 22085 Hamburg

                      born: 30.11.1960

                      Share:             EUR            126,000.00

 Shareholder:

                      Soeren Hauser

                      Farnstr. 5

                      D 22335 Hamburg

                      born: 27.04.1964

                      Share:             EUR            126,000.00

 Manager:

                      Thorsten Hauser

                      Hebbelstr. 11c

                      D 22085 Hamburg

                      having sole power of representation

                      born: 30.11.1960

                      Profession: Fully qualified political

                      economist

                      Marital status: unknown

 Manager:

                      Soeren Hauser

                      Farnstr. 5

                      D 22335 Hamburg

                      having sole power of representation

                      born: 27.04.1964

                      Profession: Fully qualified merchant

                      Marital status: unknown

 

 Further functions/participations of Thorsten Hauser (Manager)

 Shareholder:

                      SprayCom GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            100,000.00

                      Share:             EUR             50,000.00

                      Registered

                      on:         08.12.2010

                      Reg. data:  20355 Hamburg, HRB 116183

 Shareholder:

                      Karl-Heinz Söth Lagerhausbetrieb GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Registered

                      on:         27.09.1999

                      Reg. data:  20355 Hamburg, HRB 72741

 Manager:

                      Karl-Heinz Söth Lagerhausbetrieb GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         27.09.1999

                      Reg. data:  20355 Hamburg, HRB 72741

 Manager:

                      SprayCom GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            100,000.00

                      Registered

                      on:         08.12.2010

                      Reg. data:  20355 Hamburg, HRB 116183

 Shareholder:

                      Deetjen & Schröder Aktiengesellschaft

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Public limited company

                      Share capital:     EUR             51,129.19

                      Registered

                      on:         19.06.1929

                      Reg. data:  20355 Hamburg, HRB 3609

 Member of the Board of Directors:

                      Deetjen & Schröder Aktiengesellschaft

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Public limited company

                      Share capital:     EUR             51,129.19

                      Registered

                      on:         19.06.1929

                      Reg. data:  20355 Hamburg, HRB 3609

 

 Further functions/participations of Soeren Hauser (Manager)

 Shareholder:

                      SprayCom GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            100,000.00

                      Share:             EUR             50,000.00

                      Registered

                      on:         08.12.2010

                      Reg. data:  20355 Hamburg, HRB 116183

 Shareholder:

                      Karl-Heinz Söth Lagerhausbetrieb GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             12,500.00

                      Registered

                      on:         27.09.1999

                      Reg. data:  20355 Hamburg, HRB 72741

 Manager:

                      Karl-Heinz Söth Lagerhausbetrieb GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         27.09.1999

                      Reg. data:  20355 Hamburg, HRB 72741

 Manager:

                      SprayCom GmbH

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Private limited company

                      Share capital:     EUR            100,000.00

                      Registered

                      on:         08.12.2010

                      Reg. data:  20355 Hamburg, HRB 116183

 Shareholder:

                      Deetjen & Schröder Aktiengesellschaft

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Public limited company

                      Share capital:     EUR             51,129.19

                      Registered

                      on:         19.06.1929

                      Reg. data:  20355 Hamburg, HRB 3609

 Member of the Board of Directors:

                      Deetjen & Schröder Aktiengesellschaft

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Public limited company

                      Share capital:     EUR             51,129.19

                      Registered

                      on:         19.06.1929

                      Reg. data:  20355 Hamburg, HRB 3609

 President of the Supervisory Board:

                      Deetjen & Schröder Aktiengesellschaft

                      Hovestr. 41

                      D 20539 Hamburg

                      Legal form: Public limited company

                      Share capital:     EUR             51,129.19

                      Registered

                      on:         19.06.1929

                      Reg. data:  20355 Hamburg, HRB 3609

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

46461   Wholesale of pharmaceutical goods

46901   Non-specialized wholesale of raw materials and half-finished and finished goods

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2015

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Hovestr. 41

                                    D 20539 Hamburg

 

 Land register documents were not available.

 

 

BANKERS

 

 UNICREDIT BANK - HYPOVEREINSBANK, 20454 HAMBURG

 Sort. code: 20030000

 BIC: HYVEDEMM300

 

 

FINANCIAL FIGURES

 

 Gross profit or loss:2016               EUR          3,300,000.00

 Equipment:                              EUR            146,175.00

 Ac/ts receivable:                       EUR          4,128,061.00

 Liabilities:                            EUR          6,890,896.00

 Employees:                                                     13

 - thereof permanent staff:                                     13

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2015 - 31.12.2015

 Equity ratio [%]:                 42.84

 Liquidity ratio:                   0.66

 Return on total capital [%]:       0.79

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 42.12

 Liquidity ratio:                   0.60

 Return on total capital [%]:       1.50

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 43.88

 Liquidity ratio:                   0.78

 Return on total capital [%]:       2.35

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 44.37

 Liquidity ratio:                   0.79

 Return on total capital [%]:       9.62

 

 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:      01.01.2015 - 31.12.2015

 

 ASSETS                                  EUR         12,715,498.77

  Fixed assets                           EUR            146,498.21

   Intangible assets                     EUR                322.99

   Tangible assets                       EUR            146,175.22

    Other tangible assets / fixtures and

    fittings                             EUR            146,175.22

  Current assets                         EUR         12,569,000.56

   Stocks                                EUR          8,142,981.19

   Accounts receivable                   EUR          4,128,061.34

   Liquid means                          EUR            297,958.03

 

 LIABILITIES                             EUR         12,715,498.77

  Shareholders' equity                   EUR          5,138,471.88

   Capital                               EUR            252,000.00

    Subscribed capital (share capital)   EUR            252,000.00

   Balance sheet profit/loss (+/-)       EUR          4,886,471.88

    Balance sheet profit / loss          EUR          4,886,471.88

  Provisions                             EUR            686,131.34

  Liabilities                            EUR          6,890,895.55

   Financial debts                       EUR          4,867,212.09

    Liabilities due to banks             EUR          4,867,212.09

   Other liabilities                     EUR          2,023,683.46

    Unspecified other liabilities        EUR          2,023,683.46

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          3,321,153.97

  Staff expenses                         EUR            990,254.90

   Wages and salaries                    EUR            814,938.55

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            175,316.35

  Total depreciation                     EUR             36,329.78

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR             36,329.78

  Other operating expenses               EUR          1,949,334.24

  Operating result from continuing

  operations                             EUR            345,235.05

  Interest result (+/-)                  EUR           -156,751.37

   Interest and similar income           EUR             62,155.79

   Interest and similar expenses         EUR            218,907.16

  Financial result (+/-)                 EUR           -156,751.37

  Result from ordinary operations (+/-)  EUR            188,483.68

  Income tax / refund of income tax (+/-)EUR            -86,906.47

  Other taxes / refund of taxes          EUR             -1,245.00

  Tax (+/-)                              EUR            -88,151.47

  Annual surplus / annual deficit        EUR            100,332.21

 

 Type of balance

 sheet:               Company balance sheet

 Origin of the present

 balance sheet:       electronic German Federal Gazette

 

 Financial year:      01.01.2014 - 31.12.2014

 

 ASSETS                                  EUR         13,063,957.54

  Fixed assets                           EUR            117,053.76

   Intangible assets                     EUR                775.21

   Tangible assets                       EUR            116,278.55

    Other tangible assets / fixtures and

    fittings                             EUR            116,278.55

  Current assets                         EUR         12,946,903.78

   Stocks                                EUR          8,735,047.69

   Accounts receivable                   EUR          4,124,072.23

   Liquid means                          EUR             87,783.86

 

 LIABILITIES                             EUR         13,063,957.54

  Shareholders' equity                   EUR          5,138,139.67

   Capital                               EUR            252,000.00

    Subscribed capital (share capital)   EUR            252,000.00

   Balance sheet profit/loss (+/-)       EUR          4,886,139.67

    Balance sheet profit / loss          EUR          4,886,139.67

  Provisions                             EUR            626,771.00

  Liabilities                            EUR          7,299,046.87

   Financial debts                       EUR          5,206,888.31

    Liabilities due to banks             EUR          5,206,888.31

   Other liabilities                     EUR          2,092,158.56

    Unspecified other liabilities        EUR          2,092,158.56

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          3,531,106.00

  Staff expenses                         EUR            930,476.45

   Wages and salaries                    EUR            793,190.54

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            137,285.91

  Total depreciation                     EUR             41,383.73

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR             41,383.73

  Other operating expenses               EUR          2,119,755.44

  Operating result from continuing

  operations                             EUR            439,490.38

  Interest result (+/-)                  EUR           -127,362.96

   Interest and similar income           EUR             60,505.58

   Interest and similar expenses         EUR            187,868.54

  Financial result (+/-)                 EUR           -127,362.96

  Result from ordinary operations (+/-)  EUR            312,127.42

  Income tax / refund of income tax (+/-)EUR           -114,456.69

  Other taxes / refund of taxes          EUR             -1,427.00

  Tax (+/-)                              EUR           -115,883.69

  Annual surplus / annual deficit        EUR            196,243.73

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.02

UK Pound

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 :

PRA

 

 

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)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.