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MIRA INFORM REPORT
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Report No. : |
484226 |
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Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HCH.KETTELHACK GMBH & CO. KG |
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Registered Office : |
Birkenallee 183, D 48432 Rheine |
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Country : |
Germany |
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Financials (as on) : |
30.06.2016 |
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Date of Incorporation : |
12.09.1889 |
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Com. Reg. No.: |
HRA 2948 |
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Legal Form : |
Ltd Partnership with Priv. Ltd. Company as General Partner |
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Line of Business : |
Finishing of Textiles |
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No. of Employees : |
92 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 2016 Germany reached a budget surplus of 0.6%. 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 2017.
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Source
: CIA |
Company
name & address
HCH.KETTELHACK GMBH & CO. KG
Company
Status: active
Birkenallee 183
D 48432 Rheine
Telephone:05971/8640
Telefax:
05971/864103
Homepage: www.kettelhack.de
E-mail: info@kettelhack.de
VAT
no.: DE124377371
Tax
ID number: 311/5951/0111
CONCLUSION
Business relations are permissible.
LEGAL FORM Ltd Partnership with Priv. Ltd.
Company as General Partner
Date
of foundation: 12.09.1889
Registered on: 12.09.1889
Register of
companies: Local court 48565 Steinfurt
under: HRA 2948
Total cap. contribution: EUR 2,100,000.00
Limited partner:
Jan Kettelhack
Lindenstr. 8
D 48431 Rheine
born: 31.07.1954
Share: EUR 900,000.00
Limited partner:
Hinrich Kettelhack
D 97980 Bad Mergentheim
born: 06.10.1951
Share: EUR 400,000.00
Limited partner:
Susanne Gering
D 50374 Erftstadt
born: 22.09.1952
née: Kettelhack
Share: EUR 200,000.00
Limited partner:
Annette Kettelhack
Wagnerstr. 25
D 48431 Rheine
born: 25.03.1958
née: Kettelhack
geschiedene: Senger
Share: EUR 200,000.00
Limited partner:
Joan Kettelhack
D 48431 Rheine
born: 28.02.1994
Share: EUR 100,000.00
Limited partner:
Anna Kettelhack
D 48431 Rheine
born: 25.11.1986
Share: EUR 100,000.00
Limited partner:
Magdalena Kettelhack
D 48431 Rheine
born: 20.06.1989
Share: EUR 100,000.00
Limited partner:
Teresa Kettelhack
D 48431 Rheine
born: 26.04.1988
Share: EUR 100,000.00
General partner:
HKR Textilhandelsgesellschaft mbH
Birkenallee 183
D 48432 Rheine
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered on: 10.07.1975
Reg. data: 48565
Steinfurt, HRB 3720
Shareholder:
Hch.Kettelhack GmbH &
Co. KG
Birkenallee 183
D 48432 Rheine
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 2,100,000.00
contribution:
Share: EUR 25,564.59
Registered on: 12.09.1889
Reg. data: 48565
Steinfurt, HRA 2948
Manager:
Jan Kettelhack
Lindenstr. 8
D 48431 Rheine
having sole power of
representation
born: 31.07.1954
Profession: Fully
qualified economic
engineer
Marital status: married
Proxy:
Jens Kampling
Lange Str. 1
D 48477 Hörstel
authorized to jointly
represent the company
born: 19.10.1972
Proxy:
Ruth Krimphoff
D 48429 Rheine
authorized to jointly
represent the company
born: 01.09.1973
née: Krimphoff
geschiedene: Ocker
Proxy:
Thorsten Richter
Fliederweg 11
D 48431 Rheine
authorized to jointly
represent the company
born: 09.07.1962
Proxy:
Ruth Krimphoff
D 48429 Rheine
authorized to jointly
represent the company
born: 01.09.1973
née: Krimphoff
geschiedene: Ocker
ACTING
PERSONS
Member of the Advisory Board
Wolfgang Düsterberg
Timmermanufer 56
D 48429 Rheine
Member of the Advisory Board
Justus Michael Schmitz
Hansestr. 99
D 48282 Emsdetten
Member of the Advisory Board
Franz-Peter Falke
Hochstr. 13
D 57392 Schmallenberg
BUSINESS
ACTIVITIES
Main industrial sector
1330
Finishing of textiles
PARTICIPATIONS
Shareholder:
HKR
Textilhandelsgesellschaft mbH
Birkenallee 183
D 48432 Rheine
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data: 10.07.1975
Local court
48565 Steinfurt
HRB 3720
FINANCIAL
INFORMATION
Payment experience: Regular
Negative information: We have no negative
information at hand.
Balance sheet year: 2015/2016
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 Birkenallee 183
D 48432 Rheine
Type of real estate: factory building
Size: 82,000.00 sq.m
Year of construction:1982
Real Estate of: HKR Textilhandelsgesellschaft mbH
Type of ownership: Tenant
Address Birkenallee 183
D 48432 Rheine
Real Estate of: Annette Kettelhack
Type of ownership: usufruct
Address Wagnerstr. 25
D 48431 Rheine
Type of real estate: detached single-family
house
Land register documents were not available.
BANKERS
Principal bank
KREISSPARKASSE STEINFURT, 49465 IBBENBÜREN
Sort. code: 40351060, Account no.: 73087884
BIC: WELADED1STF, IBAN: DE98403510600073087884
FINANCIAL
FIGURES
Gross profit or loss:2015/2016 EUR 9,540,029.00
Profit: 2015/2016 EUR
1,573,325.00
Ac/ts receivable: EUR 2,395,699.00
Liabilities: EUR 2,498,943.00
Total numbers of vehicles: 4
Employees: 92
-
thereof permanent staff: 85
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Trainees:
7
BALANCE
SHEETS
Balance sheet ratios 01.07.2015 - 30.06.2016
Equity ratio [%]: 48.83
Liquidity ratio: 10.00
Return on total capital [%]: 12.34
Balance sheet ratios 01.07.2014 - 30.06.2015
Equity ratio [%]: 55.56
Liquidity ratio: 10.00
Return on total capital [%]: 10.34
Balance sheet ratios 01.07.2013 - 30.06.2014
Equity ratio [%]: 54.70
Liquidity ratio: 10.00
Return on total capital [%]: 12.71
Balance sheet ratios 01.07.2012 - 30.06.2013
Equity ratio [%]: 56.38
Liquidity ratio: 10.00
Return on total capital [%]: 7.10
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: 01.07.2015 - 30.06.2016
ASSETS EUR 12,849,205.43
Fixed assets
EUR 399,034.59
Intangible assets
EUR 195,307.00
Tangible assets
EUR 178,163.00
Financial assets
EUR 25,564.59
Current assets
EUR 12,398,597.66
Stocks
EUR 6,975,538.00
Accounts receivable
EUR 2,395,699.29
Liquid means
EUR 3,027,360.37
Remaining other assets
EUR 51,573.18
Accruals (assets)
EUR 51,573.18
LIABILITIES EUR 12,849,205.43
Shareholders' equity
EUR 6,324,179.06
Capital
EUR 2,207,853.99
Limited partner's capital / capital
of partially liable partner (LP)
EUR 2,100,000.00
Other capital
EUR 107,853.99
Reserves
EUR 2,543,000.00
Retained earnings / revenue reserves EUR 2,543,000.00
Balance sheet profit/loss (+/-)
EUR 1,573,325.07
Annual surplus / annual deficit
EUR 1,573,325.07
Items between shareholders' equity and
debt capital
EUR 25,564.59
Balancing items for capitalised own
shares in cos. acting as general
partners
EUR 25,564.59
Provisions
EUR 4,000,519.00
Liabilities
EUR 2,498,942.78
Other liabilities
EUR 0.00
Unspecified other liabilities
EUR 0.00
thereof liabilities from tax /
financial authorities
EUR 50,536.99
thereof liabilities from social
security EUR 175,891.20
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 9,540,029.25
Staff expenses
EUR 4,915,156.29
Wages
and salaries EUR 3,685,874.52
Social security contributions and
expenses for pension plans and
benefits
EUR 1,229,281.77
Total depreciation
EUR 73,248.04
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 73,248.04
Other operating expenses
EUR 2,453,918.13
Operating result from continuing
operations
EUR 2,097,706.79
Interest result (+/-)
EUR -114,882.98
Interest and similar income
EUR 2,034.71
Interest and similar expenses
EUR 116,917.69
thereof paid to related companies
EUR 4,233.70
Financial result (+/-)
EUR -114,882.98
Result from ordinary operations (+/-)
EUR 1,982,823.81
Income tax / refund of income tax (+/-)EUR -397,996.40
Other taxes / refund of taxes
EUR -11,502.34
Tax
(+/-)
EUR -409,498.74
Annual surplus / annual deficit
EUR 1,573,325.07
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.07.2014 - 30.06.2015
ASSETS EUR 11,128,660.09
Fixed assets EUR 395,251.09
Intangible assets
EUR 196,993.50
Concessions, licences, rights
EUR 20,002.00
Advance payments for intang. assets
EUR 176,991.50
Tangible assets
EUR 172,693.00
Plant / machinery
EUR 46,742.00
Other tangible assets / fixtures and
fittings
EUR 125,951.00
Financial assets EUR 25,564.59
Shares in participations /
subsidiaries and the like
EUR 25,564.59
Shares in related companies
EUR 25,564.59
Current assets
EUR 10,681,072.64
Stocks
EUR 6,013,907.00
Accounts receivable
EUR 1,719,462.14
Liquid means
EUR 2,947,703.50
Remaining other assets
EUR 52,336.36
Accruals (assets)
EUR 52,336.36
LIABILITIES EUR 11,128,660.09
Shareholders' equity
EUR 5,624,203.81
Capital EUR 2,100,000.00
Limited partner's capital / capital
of partially liable partner (LP)
EUR 2,100,000.00
Reserves
EUR 2,417,355.10
Retained earnings / revenue reserves EUR 2,324,000.00
Other / unspecified reserves
EUR 93,355.10
Balance sheet profit/loss (+/-)
EUR 1,106,848.71
Annual surplus / annual deficit
EUR 1,106,848.71
Items
between shareholders' equity and
debt capital
EUR 25,564.59
Balancing items for capitalised own
shares in cos. acting as general
partners
EUR 25,564.59
Provisions
EUR 3,725,890.00
Liabilities
EUR 1,753,001.69
thereof total due to shareholders
EUR 558,649.94
Other liabilities
EUR 1,753,001.69
Unspecified other liabilities
EUR 1,753,001.69
thereof liabilities from tax /
financial authorities
EUR 82,119.21
thereof liabilities from social
security
EUR 891.91
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 8,520,774.87
Staff expenses
EUR 4,677,754.86
Wages and salaries
EUR 3,619,206.25
Social security contributions and
expenses for pension plans and
benefits
EUR 1,058,548.61
Total depreciation
EUR 63,715.84
Depreciation
on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 63,715.84
Other operating expenses
EUR 2,130,855.55
Operating result from continuing
operations
EUR 1,648,448.62
Interest result (+/-)
EUR -169,270.28
Interest and similar income
EUR 8,166.51
Interest and similar expenses
EUR 177,436.79
thereof paid to related companies
EUR 3,669.66
Financial result (+/-)
EUR -169,270.28
Result from ordinary operations (+/-)
EUR 1,479,178.34
Extraordinary expenses
EUR 43,738.00
Extraordinary result (+/-)
EUR -43,738.00
Income tax / refund of income tax (+/-)EUR -321,177.60
Other taxes / refund of taxes
EUR -7,414.03
Tax
(+/-) EUR -328,591.63
Annual surplus / annual deficit
EUR 1,106,848.71
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.67 |
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|
1 |
INR 85.90 |
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Euro |
1 |
INR 76.41 |
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EUR |
1 |
INR 76.55 |
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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PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
·
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.