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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

493119.2

Report Date :

27.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BOXON GMBH

 

 

Registered Office :

Bahnhofstr. 315 D 47447 Moers

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

04.10.1996

 

 

Com. Reg. No.:

HRB 12415

 

 

Legal Form :

Private limited company

 

 

Line of Business :
  • Manufacture of wooden containers
  • Manufacture of plastic plates, sheets, tubes and profiles
  • Wholesale of other household goods

·         Warehousing

 

 

No. of Employees :

25

 

 

 

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 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.

 

Source : CIA

 

Note

 

In the meantime there have been changes in particular in the following areas subject to monitoring:

 - Balance sheets

 

 

Company name and address

 

Boxon GmbH

 

Bahnhofstr. 315

D 47447 Moers

Telephone:02841/8833370

Telefax:  02841/8833399

Homepage: www.boxonbulk.de

E-mail:   info@boxon.com

 

 

Company Status

 

Active

 

 

VAT no.

 

DE182523130

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company summery

 

 LEGAL FORM              Private limited company

 Date of foundation:      04.10.1996

 Shareholders'

 agreement:                   04.10.1996

 Registered on:             11.10.2013

 Commercial Register:   Local court 47533 Kleve

 under:                          HRB 12415

 

 Share capital:                          EUR            250,000.00

 

 Shareholder:

                      Boxon Invest AB

                      S  Helsingborg

                      Legal form: Other legal form

                      Share:             EUR            225,000.00

 Shareholder:

                      Oliver Grüters

                      Geldolfstr. 33

                      D 47839 Krefeld

                      born: 09.02.1970

                      Share:             EUR             25,000.00

 Manager:

                      Oliver Grüters

                      Geldolfstr. 33

                      D 47839 Krefeld

                      having sole power of representation

                      born: 09.02.1970

                      Profession: Businessman

                      Marital status: single

 Proxy:

                      Sandra Eyring-Wein

                      D 50126 Bergheim

                      having sole power of representation

                      born: 26.03.1969

 Proxy:

                      Andreas Blum

                      D 28857 Syke

                      having sole power of representation

                      born: 17.05.1972

 

 

COMPANY HISTORY

 

company name and legal form

 11.10.2013 - 10.06.2014  Boxon Jumbotainer GmbH

                          Bahnhofstr. 315

                          D 47447 Moers

                          Private limited company

 17.07.2013 - 11.10.2013  Boxon Jumbotainer GmbH

                          Gießerallee 33

                          D 47877 Willich

                          Private limited company

 15.11.2002 - 17.07.2013  Boxon GmbH

                          Gießerallee 33

                          D 47877 Willich

                          Private limited company

 07.12.2001 - 15.11.2002  Boxon GmbH

                          Wilhelm-Hörmes-Str. 52

                          D 47877 Willich

                          Private limited company

 04.10.1996 - 06.12.2001  EWP - Industrieemballagen GmbH

                          Wilhelm-Hörmes-Str. 52

                          D 47877 Willich

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 22.10.2013 - 24.03.2016  Manager

                          Jörg Wydra

                          Begonienstr. 55

                          D 28816 Stuhr

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

16240   Manufacture of wooden containers

22210   Manufacture of plastic plates, sheets, tubes and profiles

4649    Wholesale of other household goods

 

 Secondary industrial sector

 52100   Warehousing

 

 

BRANCHES AND FACTORIES

 

Branch:

                      Boxon GmbH

                      Otto-Lilienthal-Str. 18

                      D 28199 Bremen

 

 

FINANCIAL INFORMATION

 

 Payment experience:    No Complaints

 

 Negative information:   We have no negative information at hand.

Balance sheet year:  2016

 

 

REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Bahnhofstr. 315

                                    D 47447 Moers

 

 Real Estate of:             Oliver Grüters

 Type of ownership:       unknown

 Address                       Geldolfstr. 33

                                    D 47839 Krefeld

 

 Real Estate of:             Oliver Grüters

 Type of ownership:       unknown

 Address                       Geldolfstr. 33

                                    D 47839 Krefeld

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 SEB MERCHANT BANKING, 60283 FRANKFURT AM MAIN

 Sort. code: 51220200

 BIC: ESSEDEFFXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2016               EUR         20,498,441.00

                      2017              *EUR          4,767,500.00

 Profit:              2016               EUR            721,612.00

 further business figures:

 Equipment:                              EUR             22,107.00

 Ac/ts receivable:                       EUR          2,086,397.00

 Liabilities:                            EUR          4,493,384.00

 Employees:                                                     25

 

 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 [%]:                 39.88

 Liquidity ratio:                   0.44

 Return on total capital [%]:       8.57

 

 Balance sheet ratios 01.01.2015 - 31.12.2015

 Equity ratio [%]:                 41.60

 Liquidity ratio:                   0.47

 Return on total capital [%]:       7.70

 

 Balance sheet ratios 01.01.2014 - 31.12.2014

 Equity ratio [%]:                 43.33

 Liquidity ratio:                   0.36

 Return on total capital [%]:       4.62

 

 Balance sheet ratios 01.01.2013 - 31.12.2013

 Equity ratio [%]:                 56.49

 Liquidity ratio:                   0.78

 Return on total capital [%]:      10.46

 

 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          8,423,111.81

  Fixed assets                           EUR          3,086,889.43

   Intangible assets                     EUR             49,988.38

    Concessions, licences, rights        EUR             41,153.00

    Advance payments for intang. assets  EUR              8,835.38

   Tangible assets                       EUR             35,872.00

    Other tangible assets / fixtures and

    fittings                             EUR             35,872.00

   Financial assets                      EUR          3,001,029.05

    Loans to participations /

    subsidiaries and the like            EUR          3,001,029.05

     Loans to related companies          EUR          3,001,029.05

  Current assets                         EUR          5,305,990.04

   Stocks                                EUR          3,350,015.16

    Finished goods / work in progress    EUR          3,350,015.16

   Accounts receivable                   EUR          1,954,535.80

    Trade debtors                        EUR          1,609,168.26

    Amounts due from related companies   EUR            100,946.28

    Other debtors and assets             EUR            244,421.26

   Liquid means                          EUR              1,439.08

  Remaining other assets                 EUR             30,232.34

   Accruals (assets)                     EUR             30,232.34

 

 LIABILITIES                             EUR          8,423,111.81

  Shareholders' equity                   EUR          3,359,115.05

   Capital                               EUR            130,000.00

    Subscribed capital (share capital)   EUR            130,000.00

   Reserves                              EUR          1,542,228.96

    Capital reserves                     EUR          1,542,228.96

   Balance sheet profit/loss (+/-)       EUR          1,686,886.09

    Balance sheet profit / loss          EUR          1,686,886.09

  Provisions                             EUR            628,389.20

   Provisions for taxes                  EUR            124,941.89

   Other / unspecified provisions        EUR            503,447.31

  Liabilities                            EUR          4,435,607.56

   Other liabilities                     EUR          4,435,607.56

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          2,000,444.77

    Liabililties due to related companiesEUR          2,117,112.05

    Unspecified other liabilities        EUR            318,050.74

     thereof liabilities from tax /

     financial authorities               EUR            208,636.57

     thereof liabilities from social

     security                            EUR              8,857.10

 

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

 Code (HGB)

  Sales                                  EUR         20,498,440.68

  Other operating income                 EUR            151,971.44

  Cost of materials                      EUR         15,590,644.27

   Raw materials and supplies, purchased

   goods                                 EUR         15,590,644.27

  Gross result (+/-)                     EUR          5,059,767.85

  Staff expenses                         EUR          2,173,876.65

   Wages and salaries                    EUR          1,862,215.63

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            311,661.02

  Total depreciation                     EUR             33,839.08

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR             33,839.08

  Other operating expenses               EUR          1,853,467.30

  Operating result from continuing

  operations                             EUR            998,584.82

  Interest result (+/-)                  EUR             71,946.35

   Interest and similar income           EUR            103,939.55

    thereof from related companies       EUR            103,173.84

   Interest and similar expenses         EUR             31,993.20

    thereof paid to related companies    EUR             14,987.55

  Financial result (+/-)                 EUR             71,946.35

  Result from ordinary operations (+/-)  EUR          1,070,531.17

  Income tax / refund of income tax (+/-)EUR           -347,180.80

  Other taxes / refund of taxes          EUR             -1,738.26

  Tax (+/-)                              EUR           -348,919.06

  Annual surplus / annual deficit        EUR            721,612.11

 

 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          8,743,858.23

  Fixed assets                           EUR          3,468,753.73

   Intangible assets                     EUR             45,887.00

    Concessions, licences, rights        EUR             45,887.00

   Tangible assets                       EUR             22,107.00

    Other tangible assets / fixtures and

    fittings                             EUR             22,107.00

   Financial assets                      EUR          3,400,759.73

    Loans to participations /

    subsidiaries and the like            EUR          3,400,759.73

     Loans to related companies          EUR          3,400,759.73

  Current assets                         EUR          5,251,854.50

   Stocks                                EUR          3,133,330.08

    Finished goods / work in progress    EUR          3,133,330.08

   Accounts receivable                   EUR          2,086,397.08

    Trade debtors                        EUR          1,731,646.26

    Amounts due from related companies   EUR            318,065.19

    Other debtors and assets             EUR             36,685.63

   Liquid means                          EUR             32,127.34

  Remaining other assets                 EUR             23,250.00

   Accruals (assets)                     EUR             23,250.00

 

 LIABILITIES                             EUR          8,743,858.23

  Shareholders' equity                   EUR          3,637,502.94

   Capital                               EUR            130,000.00

    Subscribed capital (share capital)   EUR            130,000.00

   Reserves                              EUR          1,542,228.96

    Capital reserves                     EUR          1,542,228.96

   Balance sheet profit/loss (+/-)       EUR          1,965,273.98

    Balance sheet profit / loss          EUR          1,965,273.98

  Provisions                             EUR            612,971.20

   Provisions for taxes                  EUR            103,938.00

   Other / unspecified provisions        EUR            509,033.20

  Liabilities                            EUR          4,493,384.09

   Financial debts                       EUR          2,390,469.65

    Liabilities due to banks             EUR          2,390,469.65

   Other liabilities                     EUR          2,102,914.44

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          1,710,350.05

    Liabililties due to related companiesEUR             78,862.35

    Unspecified other liabilities        EUR            313,702.04

     thereof liabilities from tax /

     financial authorities               EUR            216,748.98

     thereof liabilities from social

     security                            EUR              9,490.55

 

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

 Code (HGB)

  Sales                                  EUR         20,951,957.57

  Other operating income                 EUR            341,714.57

  Cost of materials                      EUR         16,526,724.35

   Raw materials and supplies, purchased

   goods                                 EUR         16,526,724.35

  Gross result (+/-)                     EUR          4,766,947.79

  Staff expenses                         EUR          2,088,566.47

   Wages and salaries                    EUR          1,782,576.13

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            305,990.34

  Total depreciation                     EUR             38,818.64

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR             38,818.64

  Other operating expenses               EUR          1,877,391.90

  Operating result from continuing

  operations                             EUR            762,170.78

  Interest result (+/-)                  EUR             86,508.65

   Interest and similar income           EUR            116,897.24

    thereof from related companies       EUR            115,967.18

   Interest and similar expenses         EUR             30,388.59

    thereof paid to related companies    EUR              1,444.82

  Financial result (+/-)                 EUR             86,508.65

  Result from ordinary operations (+/-)  EUR            848,679.43

  Extraordinary expenses                 EUR            136,400.00

  Extraordinary result (+/-)             EUR           -136,400.00

  Income tax / refund of income tax (+/-)EUR           -172,430.16

  Other taxes / refund of taxes          EUR             -2,843.48

  Tax (+/-)                              EUR           -175,273.64

  Annual surplus / annual deficit        EUR            537,005.79

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.66

UK Pound

1

INR 90.65

Euro

1

INR 79.70

Euro

1

INR 80.02

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

TRU

                                                


 

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.