|
|
|
MIRA
INFORM REPORT
|
Report No. : |
493859 |
|
Report Date : |
28.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BORSIG PROCESS HEAT EXCHANGER GMBH |
|
|
|
|
Registered Office : |
Egellsstr. 21, D 13507 Berlin |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
05.06.2002 |
|
|
|
|
Com. Reg. No.: |
HRB 85536 B |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· Manufacture of other special-purpose machinery · Wholesale of other machinery, equipment and supplies · Engineering activities in the field of technical sectoral planning andengineering design · Activities of head offices |
|
|
|
|
No. of Employees : |
150 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
Company name & address
BORSIG PROCESS HEAT EXCHANGER GMBH
Company Status: active
Egellsstr. 21
D 13507 Berlin
Telephone:030/4301-01
Telefax:
030/4301-2447
Homepage: http://phe.borsig.de/de/startseitehtml
E-mail:
info@borsig.de
VAT
no.: DE813500999
CONCLUSION
Business relations are permissible.
LEGAL FORM Private Limited Company
Date of foundation: 05.06.2002
Shareholders'
agreement: 05.06.2002
Registered on: 06.08.2002
Commercial Register: Local court 14057 Berlin
under: HRB 85536 B
Share capital: EUR 1,901,000.00
Shareholder:
Borsig GmbH
Egellsstr. 21
D 13507 Berlin
Legal form: Private limited company
Share capital: EUR 100,000.00
Share: EUR 1,901,000.00
Registered on: 03.01.2003
Reg. data: 14057 Berlin,
HRB 87337 B
Control and profit
transfer agreement
Manager:
Carsten Birk
Walhallastr. 3
D 13156 Berlin
having sole power of
representation
born: 02.10.1965
Profession: graduate
engineer
Marital status: unknown
Proxy:
Martin Krummrey
Grizzlybärweg 14
D 16727 Oberkrämer
authorized to jointly
represent the company
born: 24.10.1964
Profession: Businessman
Marital status: unknown
Proxy:
Olaf Wiesegart
D 13507 Berlin
authorized to jointly
represent the company
born: 08.07.1960
COMPANY
HISTORY
company name and legal form
01.01.2003 - 07.04.2006 Borsig GmbH
Egellsstr. 21
D 13507 Berlin
Private limited
company
05.06.2002 - 01.01.2003 Vierte "Opossum"
Vermögensverwaltungsgesellschaft mbH
Kurfürstendamm 212
D 10719 Berlin
Private limited
company
BUSINESS
ACTIVITIES
Main industrial sector
28990
Manufacture of other special-purpose machinery n.e.c.
4669
Wholesale of other machinery,
equipment and supplies
71122
Engineering activities in the field of technical sectoral planning
andengineering design
Secondary industrial sector
7010
Activities of head offices
BRANCHES
AND FACTORIES
Works:
Borsig Process Heat
Exchanger GmbH
Bottroper Str. 279
D 45964 Gladbeck
TEL.: 02043/4006-0
FAX.: 02043/4006-22
PARTICIPATIONS
Shareholder:
GMT Membrantechnik GmbH
Am Rhein 5
D 79618 Rheinfelden
Legal form: Private
limited company
Company Status: active
Share capital: EUR 102,258.38
Share: EUR 52,151.77
Reg. data: 29.11.1995
Local court
79098 Freiburg
HRB 412522
FINANCIAL
INFORMATION
Payment experience: Regular
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: Tenant
Address Egellsstr. 21
D 13507 Berlin
Real Estate of: Carsten Birk
Type of ownership: Tenant
Address Walhallastr. 3
D 13156 Berlin
Land register documents were not available.
BANKERS
Principal bank
COMMERZBANK FILIALE BERLIN 2, 10891 BERLIN
Sort. code: 12040000
BIC: COBADEBB120
Further banks
COMMERZBANK, FILIALE BERLIN 1, 10891 BERLIN
Sort. code: 10040000, Account no.: 176080000
BIC: COBADEBBXXX, IBAN: DE02100400000176080000
UNICREDIT BANK - HYPOVEREINSBANK, 10896 BERLIN
Sort. code: 10020890, Account no.: 355238814
BIC: HYVEDEMM488, IBAN: DE42100208900355238814
FINANCIAL
FIGURES
Turnover: 2016 EUR 94,458,952.00
2017 EUR 94,500,000.00
Profit: 2016 EUR 28,807,061.00
further business figures:
Equipment: EUR 775,051.00
Ac/ts receivable: EUR 31,030,673.00
Liabilities: EUR 35,422,649.00
Real
estate of the firm:
EUR 947,243.00
Employees:
150
-
thereof permanent staff: 150
Control and profit transfer agreement to:
Borsig GmbH
Egellsstr. 21
D 13507 Berlin
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 33.97
Liquidity ratio: 10.00
Return on total capital [%]: 145.18
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 35.05
Liquidity ratio: 10.00
Return on total capital [%]: 70.14
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 42.31
Liquidity ratio: 10.00
Return on total capital [%]: 74.09
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 38.56
Liquidity ratio: 10.00
Return on total capital [%]: 62.04
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: self-disclosure
Financial year: 01.01.2016 - 31.12.2016
ASSETS EUR 44,510,029.95
Fixed assets
EUR 3,495,578.49
Intangible assets
EUR 208,582.63
Concessions,
licences, rights EUR 208,582.63
Tangible assets
EUR 3,286,995.86
Land / similar rights
EUR 947,242.87
Plant / machinery
EUR 1,564,701.69
Other tangible assets / fixtures and
fittings
EUR 775,051.30
Current assets
EUR 40,940,895.62
Stocks
EUR 0.00
Raw materials, consumables and
supplies
EUR 722,601.24
Finished goods / work in progress
EUR 21,085,996.47
Advance payments made
EUR 729,542.00
Minus received advance payments for
orders / installments for stocks
EUR -22,538,139.71
Accounts receivable
EUR 31,030,673.43
thereof total due from shareholders
EUR 24,667,081.66
Trade debtors
EUR 6,217,968.61
Amounts due from related companies
EUR 24,808,810.61
Other debtors and assets
EUR 3,894.21
Liquid means
EUR 9,910,222.19
Remaining other assets EUR 73,555.84
Accruals (assets)
EUR 73,555.84
LIABILITIES EUR 44,510,029.95
Shareholders' equity
EUR 1,901,000.00
Capital EUR 1,901,000.00
Subscribed capital (share capital)
EUR 1,901,000.00
Provisions
EUR 7,186,380.79
Other / unspecified provisions
EUR 7,186,380.79
Liabilities EUR 35,422,649.16
thereof total due to shareholders
EUR 29,506,346.80
Other liabilities
EUR 35,422,649.16
Trade creditors (for IAS incl. bills
of exchange) EUR 2,676,537.06
Liabilities from received advance
payments
EUR 1,095,558.18
Liabililties due to related companiesEUR 31,462,384.73
Unspecified other liabilities EUR 188,169.19
thereof liabilities from tax /
financial authorities
EUR 109,384.47
Guarantees and other commitments
EUR 1,421.00
Guarantees / warranties
EUR 1,421.00
Warranties
EUR 1,421.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 94,458,952.36
Inventory change + own costs (+/-)
EUR -9,943,274.97
Inventory change (+/-)
EUR -9,943,911.97
Capitalised own costs
EUR 637.00
Other operating income
EUR 2,365,479.58
Cost of materials
EUR 34,024,044.60
Raw materials and supplies, purchased
goods
EUR 27,619,323.66
Purchased services
EUR 6,404,720.94
Gross result (+/-) EUR 52,857,112.37
Staff expenses
EUR 9,979,536.47
Wages and salaries
EUR 8,333,654.76
Social security contributions and
expenses for pension plans and
benefits EUR 1,645,881.71
Total depreciation
EUR 806,504.36
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 806,504.36
Other operating expenses
EUR 12,902,870.30
Operating result from continuing
operations
EUR 29,168,201.24
Interest result (+/-)
EUR -319,614.61
Interest and similar income
EUR 166,777.08
thereof from related companies
EUR 150,816.67
Interest and similar expenses
EUR 486,391.69
Financial result (+/-)
EUR -319,614.61
Result from ordinary operations (+/-)
EUR 28,848,586.63
Expenses for transfer of profits to a
parent company
EUR 28,807,060.82
Income tax / refund of income tax (+/-)EUR -4,209.54
Other taxes / refund of taxes
EUR -37,316.27
Tax
(+/-)
EUR -41,525.81
Annual surplus / annual deficit
EUR 0.00
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: self-disclosure
Financial year: 01.01.2015 - 31.12.2015
ASSETS EUR 43,711,416.99
Fixed assets
EUR 4,470,318.38
Intangible assets
EUR 111,942.30
Concessions, licences, rights
EUR 111,942.30
Tangible assets
EUR 4,358,376.08
Land / similar rights
EUR 154,283.98
Plant / machinery
EUR 2,486,737.16
Other tangible assets / fixtures and
fittings
EUR 826,883.31
Advance payments made / construction
in progress
EUR 890,471.63
Current assets
EUR 39,170,542.77
Stocks
EUR 0.00
Raw materials, consumables and
supplies
EUR 912,266.08
Finished goods / work in progress EUR
31,029,908.44
Advance payments made
EUR 1,721,971.00
Minus received advance payments for
orders / installments for stocks
EUR -33,664,145.52
Accounts receivable
EUR 24,247,949.21
thereof total due from shareholders
EUR 13,031,391.43
Trade debtors
EUR 9,416,523.86
Amounts due from related companies
EUR 14,770,823.05
Other
debtors and assets EUR 60,602.30
Liquid means
EUR 14,922,593.56
Remaining other assets
EUR 70,555.84
Accruals (assets)
EUR 70,555.84
LIABILITIES EUR 43,711,416.99
Shareholders' equity
EUR 1,901,000.00
Capital
EUR 1,901,000.00
Subscribed capital (share capital)
EUR 1,901,000.00
Provisions
EUR 6,563,556.01
Other / unspecified provisions
EUR 6,563,556.01
Liabilities
EUR 35,246,860.98
thereof total due to shareholders
EUR 21,883,776.84
Other liabilities
EUR 35,246,860.98
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,121,836.04
Liabilities from received advance
payments
EUR 10,799,703.24
Liabililties due to related companiesEUR 23,182,068.50
Unspecified other liabilities
EUR 143,253.20
thereof liabilities from tax /
financial authorities EUR 114,649.68
Guarantees and other commitments
EUR 1,280.00
Guarantees / warranties
EUR 1,280.00
Warranties
EUR 1,280.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 80,931,957.10
Inventory change + own costs (+/-)
EUR 8,250,508.14
Inventory change (+/-)
EUR 8,201,405.75
Capitalised own costs
EUR 49,102.39
Other operating income
EUR 5,722,839.47
Cost of materials
EUR 47,576,000.66
Raw materials and supplies, purchased
goods
EUR 38,595,044.78
Purchased services
EUR 8,980,955.88
Gross result (+/-)
EUR 47,329,304.05
Staff expenses
EUR 10,057,497.39
Wages and salaries
EUR 8,388,435.85
Social security contributions and
expenses for pension plans and
benefits
EUR 1,669,061.54
Total depreciation
EUR 813,542.48
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 813,542.48
Other operating expenses
EUR 14,621,364.15
Operating result from continuing
operations
EUR 21,836,900.03
Interest result (+/-)
EUR -272,985.23
Interest and similar income
EUR 157,078.78
thereof from related companies
EUR 138,583.33
Interest and similar expenses
EUR 430,064.01
Financial result (+/-)
EUR -272,985.23
Result from ordinary operations (+/-)
EUR 21,563,914.80
Expenses for transfer of profits to a
parent company
EUR 21,519,769.20
Income tax / refund of income tax (+/-)EUR -10,021.05
Other taxes / refund of taxes
EUR -34,124.55
Tax
(+/-) EUR -44,145.60
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
|
EUR |
1 |
INR 79.60 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.