|
|
|
MIRA INFORM REPORT
|
Report No. : |
484140 |
|
Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ROSSITTIS GMBH |
|
|
|
|
Registered Office : |
Stehfenstr. 59-61D 59439
Holzwickede |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2015 |
|
|
|
|
Date of Incorporation : |
1959 |
|
|
|
|
Com. Reg. No.: |
HRB 3049 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
86 |
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 : |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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 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.
|
Source
: CIA |
Company
name and address
Rossittis GmbH
Stehfenstr. 59-61
D 59439 Holzwickede
Telephone:02301/913320
Telefax: 02301/9133232
Homepage: www.rossittis.de
E-mail: info@rossittis.de
Company
Status
Active
VAT no.
DE124889285
Tax ID
number
316/5250/0759
CONCLUSION
Business
relations are permissible.
Company
summery
LEGAL FORM Private
limited company
Date of foundation: 1959
Registered on: 08.01.1964
Commercial Register: Local court 59065 Hamm
under: HRB
3049
Share capital: EUR 25,564.59
Shareholder:
Rossittis
Familien-Holding GmbH & Co. KG
Stehfenstr. 61
D 59439 Holzwickede
Legal form: Ltd partnership
with priv. ltd.
company as general
partner
Total cap. EUR 100,000.00
contribution:
Share: EUR 25,564.59
Registered on: 14.03.2007
Reg. data: 59065 Hamm,
HRA 3195
Profit transfer agreement
Manager:
Gerhard Rossittis
Herderstr. 7
D 59439 Holzwickede
having sole power of
representation
born: 22.03.1935
Property regime:
Statutory matrimonial
property regime
Marital status: married
Manager:
Thomas Rossittis
Am Stuckenberg 14
D 59427 Unna
having sole power of
representation
born: 29.10.1961
Marital status: married
Further functions/participations of Gerhard
Rossittis (Manager)
Proprietor:
Gerhard Rossittis
Stehfenstr. 61
D 59439 Holzwickede
Legal form: Unregistered
commercial
enterprise
Limited partner:
Rossittis
Familien-Holding GmbH & Co. KG
Stehfenstr. 61
D 59439 Holzwickede
Legal form: Ltd partnership
with priv. ltd.
company as
general partner
Total cap. EUR 100,000.00
contribution:
Share: EUR 100,000.00
Registered
on: 14.03.2007
Reg. data: 59065 Hamm, HRA 3195
Shareholder:
Rossittis
Verwaltungs-GmbH
Stehfenstr. 59-61
D 59439 Holzwickede
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 01.08.2006
Reg. data: 59065 Hamm, HRB 5711
Manager:
Rossittis
Verwaltungs-GmbH
Stehfenstr. 59-61
D 59439 Holzwickede
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 01.08.2006
Reg. data: 59065 Hamm, HRB 5711
Further functions/participations of Thomas
Rossittis (Manager)
Manager:
Rossittis
Verwaltungs-GmbH
Stehfenstr. 59-61
D 59439 Holzwickede
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 01.08.2006
Reg. data: 59065 Hamm, HRB 5711
COMPANY
HISTORY
company name and legal form
1959 - 01.01.1995 Gebr. Rossittis Terrazzo und
Betonsteinwerk
Gesellschaft mit
beschränkter
Stehfenstr. 61
D 59439 Holzwickede
Private limited company
BUSINESS
ACTIVITIES
Main industrial sector
23700
Cutting, shaping and finishing of stone n.e.c.
46734 Wholesale of construction materials of
mineral sustances
BRANCHES
AND FACTORIES
Works:
Rossittis GmbH
Daimlerstr. 61
D 69190 Walldorf
TEL.: 06227/3099270
FAX.: 06227/3099299
Branch:
Rossittis GmbH
Kirchweyher Str. 135
D 28844 Weyhe
TEL.: 04203/70180
FAX.: 04203/701832
FINANCIAL INFORMATION
Payment experience: No Complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2015
REAL
ESTATE
Type of ownership: Tenant
Address Stehfenstr.
59-61
D 59439 Holzwickede
Real Estate of: Gerhard
Rossittis
Type of ownership: proprietor
Share: 100.00 %
Address Herderstr.
7
D 59439 Holzwickede
Value at selling price: EUR 614,000.00
Real Estate of: Gerhard
Rossittis
Type of ownership: proprietor
Share: 100.00 %
Address Stehfenstr.
59-61
D 59439 Holzwickede
Type of real estate: commercial premises
Size: 30,000.00 sq.m
Value at selling price: EUR 12,782,000.00
Real Estate of: Thomas
Rossittis
Type of ownership: proprietor
Share: 100.00 %
Address Am
Stuckenberg 14
D 59427 Unna
Land register documents were not available.
BANKERS
Principal bank
VOLKSBANK UNNA ZNDL D DORTMUNDER VOLKSBANK,
59423 UNNA
Sort. code: 44160014
BIC: GENODEM1DOR
Further bank
COMMERZBANK, 44047 DORTMUND
Sort. code: 44040037
BIC: COBADEFFXXX
FINANCIAL
FIGURES
Turnover: 2017 *EUR 14,620,000.00
Ac/ts receivable: EUR 5,223,651.00
Liabilities: EUR 18,177,707.00
Total numbers of
vehicles:
9
- Lorries: 4
- Passenger cars:
5
Employees:
86
- thereof permanent
staff:
45
Profit transfer agreement to:
Rossittis
Familien-Holding GmbH & Co. KG
Stehfenstr. 61
D 59439 Holzwickede
The business figures marked with an asterisk
are estimates based
on average values in the line of business.
BALANCE SHEETS
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 48.21
Liquidity ratio: 0.21
Return on total capital [%]: -3.98
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 51.96
Liquidity ratio: 0.28
Return on total capital [%]: -0.10
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 49.42
Liquidity ratio: 0.24
Return on total capital [%]: 2.55
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 46.98
Liquidity ratio: 0.24
Return on total capital [%]: -2.51
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 39,031,943.63
Fixed assets EUR 3,731,525.87
Intangible assets EUR 15,357.03
Tangible assets EUR 1,396,004.78
Financial assets EUR 2,320,164.06
Current assets EUR 35,300,417.76
Stocks EUR 30,059,889.66
Accounts receivable EUR 5,223,650.73
thereof total due from shareholders EUR
1,326,420.64
Other debtors and assets EUR 5,223,650.73
Liquid means EUR 16,877.37
LIABILITIES EUR 39,031,943.63
Shareholders' equity EUR 19,506,778.05
Capital EUR 25,564.59
Subscribed capital (share capital) EUR 25,564.59
Reserves EUR 14,856.55
Capital reserves EUR 14,856.55
Balance sheet profit/loss (+/-) EUR 19,466,356.91
Profit / loss brought forward EUR 19,466,356.91
Provisions EUR 1,347,459.00
Liabilities EUR 18,177,706.58
Other liabilities EUR 0.00
Unspecified other liabilities EUR 0.00
thereof liabilities from tax /
financial authorities EUR 34,682.11
thereof liabilities from social
security EUR 2,314.13
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 9,880,450.09
Staff expenses EUR 4,131,366.54
Wages and salaries EUR 3,487,124.28
Social security contributions and
expenses for pension plans and
benefits EUR 644,242.26
Total depreciation EUR 337,703.76
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 337,703.76
Other operating expenses EUR 6,662,319.34
Operating result from continuing
operations EUR -1,250,939.55
Interest result (+/-) EUR -341,543.73
Interest and similar income EUR 11,759.71
thereof from related companies EUR
4,714.41
Interest and similar expenses EUR 353,303.44
thereof paid to related companies EUR 8,734.65
Other financial result EUR 80,230.50
Income from securities and loans from
financial assets EUR 80,230.50
thereof related companies EUR 80,230.50
Financial result (+/-) EUR -261,313.23
Result from ordinary operations (+/-) EUR
-1,512,252.78
Income from assumption of loss by
parent company EUR 1,501,738.90
Income tax / refund of income tax
(+/-)EUR 17,571.88
Other taxes / refund of taxes EUR -7,058.00
Tax (+/-) EUR 10,513.88
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: 01.01.2014 - 31.12.2014
ASSETS EUR 38,197,734.79
Fixed assets EUR 3,638,207.34
Intangible assets EUR
19,508.03
Tangible assets EUR 1,462,935.82
Financial assets EUR 2,155,763.49
Other / unspecified financial assets
EUR 2,155,763.49
Current assets EUR 34,559,527.45
Stocks EUR 29,766,221.58
Accounts receivable EUR 4,770,940.34
Liquid means EUR 22,365.53
LIABILITIES
EUR 38,197,734.79
Shareholders' equity EUR 19,506,778.05
Capital EUR 25,564.59
Subscribed capital (share capital) EUR 25,564.59
Reserves EUR 14,856.55
Capital reserves EUR 14,856.55
Balance sheet profit/loss (+/-) EUR 19,466,356.91
Profit / loss brought forward EUR 19,466,356.91
Provisions EUR 1,401,362.00
Liabilities EUR 17,289,594.74
Other liabilities EUR 0.00
Unspecified other liabilities EUR
0.00
thereof liabilities from tax /
financial authorities EUR 50,372.39
thereof liabilities from social
security EUR 3,821.53
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 11,187,501.19
Staff expenses EUR 4,309,094.81
Wages and salaries EUR 3,655,384.55
Social security contributions and
expenses for pension plans and
benefits EUR 653,710.26
Total depreciation EUR 398,013.75
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 398,013.75
Other operating expenses EUR 6,205,400.99
Operating result from continuing
operations EUR 274,991.64
Interest result (+/-) EUR -401,847.34
Interest and similar income EUR 5,252.46
thereof from related companies EUR 758.53
Interest and similar expenses EUR 407,099.80
thereof paid to related companies EUR 9,723.09
Other financial result EUR 74,348.01
Income from securities and loans from
financial assets EUR 74,348.01
thereof related companies EUR 74,348.01
Financial result (+/-) EUR -327,499.33
Result from ordinary operations (+/-) EUR
-52,507.69
Income from assumption of loss by
parent company EUR 36,356.57
Income tax / refund of income tax
(+/-)EUR 23,506.12
Other taxes / refund of taxes EUR -7,355.00
Tax (+/-) EUR 16,151.12
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.67 |
|
|
1 |
INR 86.11 |
|
Euro |
1 |
INR 76.59 |
|
Euro |
1 |
INR 76.54 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.