MIRA INFORM REPORT

 

 

Report No. :

506478

Report Date :

26.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

COOL IT ISOLIERSYSTEME GMBH

 

 

Registered Office :

Ochsenweg 18, D 49324 Melle

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

02.12.1983

 

 

Com. Reg. No.:

HRB 15267

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Manufacture of builders' ware of plastic

·         Manufacture of doors and windows of metal

·         Insulation against cold temperature, heat, sound and vibration

·         Wholesale of construction materials of mineral sustances

 

 

No. of Employees :

192

 

 

 

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 & address

 

COOL IT ISOLIERSYSTEME GMBH

 

Company Status:           active

                                    Ochsenweg 18

                                     D 49324 Melle

                                    Telephone:05422/6090

                                    Telefax:  05422/60935

                                    Homepage: www.coolit.de

                                    E-mail:   info@coolit.de

 

VAT no.:                       DE117579040

 

LEGAL FORM           Private Limited Company

Date of foundation          :  02.12.1983

Begin of business

Activities           :          02.12.1983

Shareholders'

agreement:           02.12.1983

Registered on:       01.02.1984

Commercial Register: Local court 49074 Osnabrück

under:               HRB 15267

 

Share capital:                          EUR            320,000.00

 

Shareholder:

                     BFH Verw.GmbH

                     Ochsenweg 18

                     D 49324 Melle

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Share:             EUR            300,800.00

                     Registered on: 08.01.2008

                     Reg. data: 49074 Osnabrück, HRB 201624

                     Control and profit transfer agreement

Shareholder:

                     Jürgen Horstmann

                     Meller Berg 44

                     D 49324 Melle

                     born: 18.07.1947

                     Share:             EUR              6,400.00

Shareholder:

                     Armin Fichte

                     Selhofer Weg 95

                     D 49324 Melle

                     born: 01.09.1939

                     Share:             EUR              6,400.00

Shareholder:

                     Simon Brandhorst

                     D 49082 Osnabrück

                     born: 12.06.1979

                     Share:             EUR              2,134.00

Shareholder:

                     Rasmus Brandhorst

                     Suerdieckstr. 11

                     D 49324 Melle

                     born: 08.07.1970

                     Share:             EUR              2,133.00

Shareholder:

                     Felix Brandhorst

                     D 10063 Berlin

                     born: 07.10.1972

                     Share:             EUR              2,133.00

Manager:

                     Rasmus Brandhorst

                     Suerdieckstr. 11

                     D 49324 Melle

                     having sole power of representation

                     born: 08.07.1970

Manager:

                     Frank Maiwald

                     Am Kapellenweg 41

                     D 49492 Westerkappeln

                     having sole power of representation

                     born: 25.11.1961

 

Further functions/participations of Rasmus Brandhorst (Manager)

Shareholder:

                     BFH Verw.GmbH

                     Ochsenweg 18

                     D 49324 Melle

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Share:             EUR              6,667.00

                     Registered

                     on:         08.01.2008

                     Reg. data:  49074 Osnabrück, HRB 201624

Manager:

                     BFH Verw.GmbH

                     Ochsenweg 18

                     D 49324 Melle

                     Legal form: Private limited company

                     Share capital:     EUR             60,000.00

                     Registered

                     on:         08.01.2008

                     Reg. data:  49074 Osnabrück, HRB 201624

COMPANY HISTORY

 

company name and legal form

02.12.1983 - 31.12.1999  coolit Isoliersysteme GmbH

                         Gerdener Str. 71

                         D 49324 Melle

                         Private limited company

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

22230   Manufacture of builders' ware of plastic

25120   Manufacture of doors and windows of metal

43291   Insulation against cold temperature, heat, sound and vibration

46734   Wholesale of construction materials of mineral sustances

 

 

FINANCIAL INFORMATION

 

Payment experience:  No Complaints

 

Negative information: We have no negative information at hand.

 

Balance sheet year:  2016

 

PMI:               No significant / relevant payment experience

                     information pertaining to the company

                     inquired upon is shown in the Deutscher

                     Debitoren Monitor (DDMonitor).

 

 

REAL ESTATE

 

Type of ownership:   proprietor

Share:                100.00 %

Address              Ochsenweg 18

                     D 49324 Melle

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

KREISSPARKASSE MELLE, 49304 MELLE

Sort. code: 26552286

BIC: NOLADE21MEL

 

Further bank

DEUTSCHE BANK, 49006 OSNABRÜCK

Sort. code: 26570090

BIC: DEUTDE3B265

 

 

FINANCIAL FIGURES

 

Gross profit or loss:2016               EUR         22,266,388.00

Profit:              2016               EUR          4,988,592.00

Equipment:                              EUR            807,021.00

Ac/ts receivable:                       EUR          2,837,205.00

Liabilities:                            EUR         14,580,394.00

Real estate of the firm:                EUR          5,635,399.00

Total numbers of vehicles:                                      5

- Passenger cars:                                               5

Employees:                                                    192

- Trainees:                                                     6

- Temporary workers:                                            5

 

Control and profit transfer agreement to:

                     BFH Verw.GmbH

                     Ochsenweg 18

                     D 49324 Melle

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2016 - 31.12.2016

Equity ratio [%]:                 17.10

Liquidity ratio:                   0.25

Return on total capital [%]:      26.53

 

Balance sheet ratios 01.01.2015 - 31.12.2015

Equity ratio [%]:                 18.90

Liquidity ratio:                   0.29

Return on total capital [%]:      24.98

 

Balance sheet ratios 01.01.2014 - 31.12.2014

Equity ratio [%]:                 19.19

Liquidity ratio:                   0.24

Return on total capital [%]:      22.82

 

Balance sheet ratios 01.01.2013 - 31.12.2013

Equity ratio [%]:                 19.59

Liquidity ratio:                   0.28

Return on total capital [%]:      23.78

 

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         18,803,178.81

 Fixed assets                           EUR          9,839,726.09

  Intangible assets                     EUR             28,260.00

   Concessions, licences, rights        EUR             28,260.00

  Tangible assets                       EUR          9,811,466.09

   Land / similar rights                EUR          5,370,861.58

   Plant / machinery                    EUR          3,220,259.00

   Other tangible assets / fixtures and

   fittings                             EUR            807,020.51

   Advance payments made / construction

   in progress                          EUR            413,325.00

 Current assets                         EUR          8,909,760.24

  Stocks                                EUR          2,696,758.41

  Accounts receivable                   EUR          2,837,204.53

  Liquid means                          EUR          3,375,797.30

 Remaining other assets                 EUR             53,692.48

  Accruals (assets)                     EUR             33,791.00

  Active difference from asset

  offsetting                            EUR             19,901.48

 

LIABILITIES                             EUR         18,803,178.81

 Shareholders' equity                   EUR          3,214,472.60

  Capital                               EUR            320,000.00

   Subscribed capital (share capital)   EUR            320,000.00

  Reserves                              EUR             76,693.78

   Capital reserves                     EUR             76,693.78

  Balance sheet profit/loss (+/-)       EUR          2,817,778.82

   Balance sheet profit / loss          EUR          2,817,778.82

 Provisions                             EUR          1,008,311.82

 Liabilities                            EUR         14,580,394.39

  Other liabilities                     EUR                  0.00

   Unspecified other liabilities        EUR                  0.00

    thereof liabilities from tax /

    financial authorities               EUR            190,191.24

 

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

Code (HGB)

 Gross result (+/-)                     EUR         22,266,387.86

 Staff expenses                         EUR         10,922,800.31

  Wages and salaries                    EUR          9,142,531.12

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          1,780,269.19

 Total depreciation                     EUR            910,477.46

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR            910,477.46

 Other operating expenses               EUR          5,092,374.01

 Operating result from continuing

 operations                             EUR          5,340,736.08

 Interest result (+/-)                  EUR           -312,045.27

  Interest and similar income           EUR              1,183.10

  Interest and similar expenses         EUR            313,228.37

 Other financial result                 EUR             24,575.80

  Income from securities and loans from

  financial assets                      EUR             24,575.80

 Financial result (+/-)                 EUR           -287,469.47

 Result from ordinary operations (+/-)  EUR          5,053,266.61

 Expenses for transfer of profits to a

 parent company                         EUR          4,988,592.32

 Income tax / refund of income tax (+/-)EUR            -43,006.64

 Other taxes / refund of taxes          EUR            -21,667.65

 Tax (+/-)                              EUR            -64,674.29

 Annual surplus / annual deficit        EUR                  0.00

 

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         17,011,151.20

 Fixed assets                           EUR          8,699,905.94

  Intangible assets                     EUR             43,861.00

   Concessions, licences, rights        EUR             43,861.00

  Tangible assets                       EUR          8,656,044.94

   Land / similar rights                EUR          5,384,266.43

   Plant / machinery                    EUR          2,562,206.00

   Other tangible assets / fixtures and

   fittings                             EUR            699,247.51

   Advance payments made / construction

   in progress                          EUR             10,325.00

 Current assets                         EUR          8,188,010.74

  Stocks                                EUR          2,582,762.17

  Accounts receivable                   EUR          3,025,724.07

  Liquid means                          EUR          2,579,524.50

 Remaining other assets                 EUR            123,234.52

  Accruals (assets)                     EUR             70,578.36

  Active difference from asset

  offsetting                            EUR             52,656.16

 

LIABILITIES                             EUR         17,011,151.20

 Shareholders' equity                   EUR          3,214,472.60

  Capital                               EUR            320,000.00

   Subscribed capital (share capital)   EUR            320,000.00

  Reserves                              EUR             76,693.78

   Capital reserves                     EUR             76,693.78

  Balance sheet profit/loss (+/-)       EUR          2,817,778.82

   Balance sheet profit / loss          EUR          2,817,778.82

 Provisions                             EUR            953,929.45

 Liabilities                            EUR         12,842,749.15

 

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

Code (HGB)

 Gross result (+/-)                     EUR         20,894,227.39

 Staff expenses                         EUR         10,388,713.80

  Wages and salaries                    EUR          8,697,377.17

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR          1,691,336.63

 Total depreciation                     EUR            788,892.23

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR            788,892.23

 Other operating expenses               EUR          5,124,944.59

 Operating result from continuing

 operations                             EUR          4,591,676.77

 Interest result (+/-)                  EUR           -312,588.40

  Interest and similar income           EUR              2,797.59

  Interest and similar expenses         EUR            315,385.99

 Other financial result                 EUR             27,849.88

  Income from securities and loans from

  financial assets                      EUR             27,849.88

 Financial result (+/-)                 EUR           -284,738.52

 Result from ordinary operations (+/-)  EUR          4,306,938.25

 Expenses for transfer of profits to a

 parent company                         EUR          4,249,587.93

 Income tax / refund of income tax (+/-)EUR            -37,052.32

 Other taxes / refund of taxes          EUR            -20,298.00

 Tax (+/-)                              EUR            -57,350.32

 Annual surplus / annual deficit        EUR                  0.00

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.70

UK Pound

1

INR 93.14

Euro

1

INR 81.43

EUR

1

INR 81.30

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

TPT

 

 

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.