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MIRA INFORM REPORT
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Report No. : |
491122 |
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Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
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Name : |
HÜHOCO GMBH |
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Registered Office : |
Möddinghofe 31, D 42279 Wuppertal |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Year of Establishment : |
2003 |
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Com. Reg. No.: |
HRB 16823 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Treatment and coating of metals · Wholesale of non-ferrous ores, metals and metal semi-finished goods |
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No. of Employees : |
150 |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 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, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2018.
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Source
: CIA |
Company name and address
HÜHOCO GmbH
Company Status: active
Möddinghofe 31
D 42279 Wuppertal
Telephone:0202/64778-0
Telefax: 0202/64778-69
Homepage: www.huehoco.com
E-mail: info@huehoco.de
VAT no.: DE236855166
Tax ID number: 131/5916/0732
Company Summary
LEGAL FORM Private limited company
Date of foundation: 2003
Shareholders'
agreement: 01.08.2003
Registered on: 04.03.2004
Commercial Register: Local court 42103 Wuppertal
under: HRB 16823
Share capital
EUR 1,500,000.00
Shareholder:
Becker Familienholding GmbH & Co. KG
Möddinghofe 31
D 42279 Wuppertal
Legal form: Ltd partnership with priv. ltd.
company as general partner
Total cap. EUR 100,000.00
contribution:
Share: EUR 1,500,000.00
Registered on: 27.01.2004
Reg. data: 42103 Wuppertal, HRA 19338
Manager:
André Bovenkamp
Wittelsbacherstr. 44
D 42287 Wuppertal
having sole power of representation
born: 08.02.1969
Marital status: unknown
Proxy:
Joachim Erkelenz
Waldstr. 26
D 58239 Schwerte
authorized to jointly represent the company
born: 09.06.1965
Profession: Clerk
Marital status: married
Proxy:
Max Hülsenbeck
D 58339 Breckerfeld
authorized to jointly represent the company
born: 02.01.1962
Proxy:
Klaus Welsch
D 58339 Breckerfeld
authorized to jointly represent the company
born: 29.07.1951
Proxy:
Daniel Gaspar
D 58332 Schwelm
authorized to jointly represent the company
born: 11.09.1974
Further functions/participations of André Bovenkamp (Manager)
General partner:
PRABO GbR
D 42103 Wuppertal
Legal form: Partnership under the Civil Code
Limited partner:
Becker Familienholding GmbH & Co. KG
Möddinghofe 31
D 42279 Wuppertal
Legal form: Ltd partnership with priv. ltd.
company as general partner
Total cap. EUR 100,000.00
contribution:
Share: EUR 15,000.00
Registered
on: 27.01.2004
Reg. data: 42103 Wuppertal, HRA 19338
Shareholder:
Becker Verwaltungs GmbH
Möddinghofe 31
D 42279 Wuppertal
Legal form: Private limited company
Share capital: EUR 20,000,000.00
Share: EUR 3,000,000.00
Registered
on: 24.01.2014
Reg. data: 42103 Wuppertal, HRB 25495
Manager:
BEJO International Holding GmbH
Möddinghofe 31
D 42279 Wuppertal
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 05.08.2002
Reg. data: 42103 Wuppertal, HRB 10761
Manager:
Becker Verwaltungs GmbH
Möddinghofe 31
D 42279 Wuppertal
Legal form: Private limited company
Share capital: EUR 20,000,000.00
Registered
on: 24.01.2014
Reg. data: 42103 Wuppertal, HRB 25495
Deputy of the Board of Directors:
Barmer Verschönergungsverein
Untere Lichtenplatzer Str. 84
D 42289 Wuppertal
Legal form: Association granted by the
government
Reg. data: 42103 Wuppertal,
COMPANY HISTORY
Company name and legal form
04.03.2004 - 19.09.2016 Hüsecken, Holzrichter Verwaltungs GmbH
Möddinghofe 31
D 42279 Wuppertal
Private limited company
15.09.2003 - 04.03.2004 Kronen vierhundertneun GmbH
Königsallee 102
D 40215 Düsseldorf
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
25.01.2006 - 18.08.2015 Manager
Christoph Koslowski
USA Atlanta
BUSINESS ACTIVITIES
Main industrial sector
2561 Treatment and coating of metals
46722 Wholesale of non-ferrous ores, metals and metal semi-finished goods
PARTICIPATIONS
Shareholder:
Technologiezentrum Wuppertal W-tec GmbH
Lise-Meitner-Str. 1-13
D 42119 Wuppertal
Legal form: Private limited company
Company Status: active
Share capital: EUR 583,900.00
Share: EUR 7,700.00
Reg. data: 25.03.1992
Local court 42103 Wuppertal
HRB 7831
FINANCIAL INFORMATION
Payment experience: within periods customary in this trade
Negative information: We have no negative information at hand.
Balance Sheet Year: 2015
REAL ESTATE
Type of ownership: Tenant
Address Möddinghofe 31
D 42279 Wuppertal
Real Estate of: André Bovenkamp
Type of ownership: unknown
Address Wittelsbacherstr. 44
D 42287 Wuppertal
Land register documents were not available.
BANKERS
COMMERZBANK, 42003 WUPPERTAL
Sort. code: 33040001
BIC: COBADEFFXXX
DEUTSCHE BANK, 42097 WUPPERTAL
Sort. code: 33070090
BIC: DEUTDEDWXXX
STADTSPARKASSE WUPPERTAL, 42097 WUPPERTAL
Sort. code: 33050000
BIC: WUPSDE33XXX
FINANCIAL FIGURES
Ac/ts receivable: EUR 42,443.00
Liabilities: EUR 185.00
Employees: 150
BALANCE SHEETS
Balance sheet ratios
01.01.2015 - 31.12.2015
Equity ratio
[%]: 94.77
Liquidity
ratio: 10.00
Return on total
capital [%]: 2.53
Balance sheet ratios
01.01.2014 - 31.12.2014
Equity ratio
[%]: 96.22
Liquidity
ratio: 10.00
Return on total
capital [%]: 3.00
Balance sheet ratios
01.01.2013 - 31.12.2013
Equity ratio
[%]: 96.53
Liquidity
ratio: 10.00
Return on total
capital [%]: 4.61
Balance sheet ratios
01.01.2012 - 31.12.2012
Equity ratio
[%]: 95.05
Liquidity
ratio: 10.00
Return on total
capital [%]: 3.63
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 42,494.61
Current assets EUR 42,494.61
Accounts receivable EUR 42,442.66
Liquid means EUR 51.95
LIABILITIES EUR 42,494.61
Shareholders' equity EUR 40,273.36
Capital
EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Balance sheet profit/loss (+/-) EUR 15,273.36
Profit / loss brought forward EUR 14,198.85
Annual surplus / annual deficit EUR 1,074.51
Provisions EUR 2,036.00
Liabilities EUR 185.25
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 40,736.83
Current assets EUR 40,736.83
Accounts receivable EUR 40,736.83
LIABILITIES EUR 40,736.83
Shareholders' equity EUR 39,198.85
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Balance sheet profit/loss (+/-) EUR 14,198.85
Profit / loss brought forward EUR 12,978.30
Annual surplus / annual deficit EUR 1,220.55
Provisions EUR 1,473.00
Liabilities EUR 64.98
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.37 |
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1 |
INR 89.71 |
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Euro |
1 |
INR 78.89 |
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EUR |
1 |
INR 78.94 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.