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MIRA INFORM REPORT
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Report No. : |
486311 |
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Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
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Name : |
KÖMMERLING CHEMISCHE FABRIK GMBH |
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Registered Office : |
Zweibrücker Str. 200, D 66954 Pirmasens, Post Box: 21 62 |
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Country : |
Germany |
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Financials (as on) : |
30.09.2016 |
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Date of Incorporation : |
08.09.2000 |
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Com. Reg. No.: |
HRB 23415 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture of Other Organic Basic Chemicals |
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No. of Employees : |
339 |
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+ |
Low Risk |
Business dealings permissible with low
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
KÖMMERLING CHEMISCHE FABRIK GMBH
Company Status: active
Zweibrücker Str. 200
D 66954 Pirmasens
Post Box:
21 62
Telephone:06331/562000
Telefax: 06331/561999
Homepage: www.koe-chemie.de
E-mail: info@koe-chemie.de
VAT no.: DE813065593
LEGAL FORM Private
Limited Company
Date of foundation: 08.09.2000
Shareholders'
agreement: 08.09.2000
Registered on: 09.01.2001
Commercial Register: Local court 66482 Zweibrücken
under: HRB 23415
Share capital:
EUR 25,000.00
Shareholder:
ADCO Europe
Holding GmbH
Zweibrücker
Str. 200
D 66954
Pirmasens
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 05.02.2001
Reg. data:
66482 Zweibrücken, HRB 23416
Control and
profit transfer agreement
Manager:
Bernd Helfrich
D 66976
Rodalben
having sole
power of representation
born:
25.03.1963
Manager:
Charles
Richard Spalton
GB - High
Wycombe/Buckinghamshire
having sole
power of representation
born:
16.01.1939
Nationality:
British
Manager:
Heidi Ann
Weiler
USA Minnesota
having sole power of representation
born:
11.02.1966
Nationality:
USA
Proxy:
Gert Heckmann
D 66976
Rodalben
authorized to
jointly represent the company
born:
17.07.1962
Proxy:
Dr. Norbert
Schott
D 66482
Zweibrücken
authorized to
jointly represent the company
born:
16.07.1962
Further functions/participations of Bernd Helfrich (Manager)
Manager:
ADCO Europe
Holding GmbH
Zweibrücker
Str. 200
D 66954
Pirmasens
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 05.02.2001
Reg.
data: 66482 Zweibrücken, HRB 23416
Further functions/participations of Charles Richard Spalton
(Manager)
Manager:
ADCO Europe
Holding GmbH
Zweibrücker
Str. 200
D 66954
Pirmasens
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 05.02.2001
Reg.
data: 66482 Zweibrücken, HRB 23416
Manager:
ADCO Europe
Holding GmbH
D 66953
Pirmasens
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 15.09.2000
Reg.
data: 50939 Köln, HRB 34056
Further functions/participations of Heidi Ann Weiler (Manager)
Manager:
ADCO Europe
Holding GmbH
Zweibrücker
Str. 200
D 66954
Pirmasens
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on: 05.02.2001
Reg.
data: 66482 Zweibrücken, HRB 23416
Manager:
H.B. Fuller
Deutschland Royal Group GmbH
An der Roten Bleiche 2-3
D 21335
Lüneburg
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Registered
on:
07.12.2017
Reg.
data: 21335 Lüneburg, HRB 207191
Manager:
H.B. Fuller
Deutschland Royal Holdings GmbH
An der Roten
Bleiche 2-3
D 21335
Lüneburg
Legal form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 07.12.2017
Reg.
data: 21335 Lüneburg, HRB 207190
COMPANY
HISTORY
company name and legal form
12.10.2000 - 08.01.2001
KÖMMERLING Chemische Fabrik Produktions
GmbH
Hohenstaufenring 62
D 50674
Köln
Private
limited company
08.09.2000 - 12.10.2000
HOHENSTAUFEN EINHUNDERTDREIUNDSECHZIGSTE
Vermögensverwaltungs GmbH
Hohenstaufenring 62
D 50674
Köln
Private
limited company
BUSINESS
ACTIVITIES
Main industrial sector
20140 Manufacture of other
organic basic chemicals
BRANCHES
AND FACTORIES
Works:
Kömmerling
Chemische Fabrik GmbH
Innerstetal 2
D 38685
Langelsheim
TEL.:
05326/51-0
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: Tenant
Address Zweibrücker Str. 200
D 66954
Pirmasens
Land register documents were not available.
BANKERS
Principal banks
COMMERZBANK, 66953 PIRMASENS
Sort. code: 54240032
BIC: COBADEFFXXX
DEUTSCHE BANK, 66923 PIRMASENS
Sort. code: 54270096
BIC: DEUTDESM542
COMMERZBANK VORMALS DRESDNER BANK, 66923 PIRMASENS
Sort. code: 54280023
BIC: DRESDEFF542
UNICREDIT BANK - HYPOVEREINSBANK, 66923 PIRMASENS
Sort. code: 54220091
BIC: HYVEDEMM485
FINANCIAL
FIGURES
Turnover: 2015/2016 EUR
150,451,328.00
Profit: 2015/2016 EUR 14,267,060.00
Equipment: EUR 1,348,196.00
Ac/ts
receivable:
EUR 76,635,932.00
Liabilities: EUR 75,630,238.00
Employees:
339
Control and profit transfer agreement to:
ADCO Europe
Holding GmbH
Zweibrücker
Str. 200
D 66954
Pirmasens
BALANCE
SHEETS
Balance sheet ratios 01.10.2015 - 30.09.2016
Equity ratio [%]:
55.67
Liquidity ratio:
8.08
Return on total capital [%]:
24.32
Balance sheet ratios 01.10.2014 - 30.09.2015
Equity ratio [%]:
49.30
Liquidity ratio:
3.45
Return on total capital [%]:
21.33
Balance sheet ratios 01.10.2013 - 30.09.2014
Equity ratio [%]:
50.14
Liquidity ratio:
5.18
Return on total capital [%]:
21.47
Balance sheet ratios 01.01.2013 - 30.09.2013
Equity ratio [%]:
46.55
Liquidity ratio:
1.99
Return on total capital [%]:
9.40
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: 01.10.2015 - 30.09.2016
ASSETS EUR 117,878,819.70
Fixed assets EUR 14,663,265.90
Intangible assets EUR 721,231.00
Concessions, licences, rights EUR 228,022.00
Goodwill EUR 493,209.00
Tangible assets EUR 13,762,034.90
Land / similar rights EUR 4,651,446.27
Plant / machinery EUR 6,417,962.73
Other tangible assets / fixtures and
fittings EUR 1,348,196.00
Advance payments made / construction
in progress EUR 1,344,429.90
Financial assets EUR 180,000.00
Other loans EUR 180,000.00
Current assets EUR 102,976,272.71
Stocks EUR 15,977,190.79
Raw materials, consumables and
supplies EUR 7,486,977.50
Finished goods / work in progress EUR
8,490,213.29
Accounts receivable EUR 76,635,932.26
Amounts due from shareholders EUR 58,733,769.42
Trade debtors EUR 14,827,814.06
Amounts due from related companies EUR
2,700,229.36
Other debtors and assets EUR 374,119.42
Liquid means EUR 10,363,149.66
Remaining other assets EUR 239,281.09
Accruals (assets) EUR 239,281.09
LIABILITIES EUR 117,878,819.70
Shareholders' equity EUR 28,824,939.36
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Reserves EUR 28,799,939.36
Capital reserves EUR 28,353,939.36
Retained earnings / revenue reserves
EUR 446,000.00
Provisions EUR 13,423,642.00
Pension provisions and comparable
provisions EUR 8,517,970.00
Other / unspecified provisions EUR 4,905,672.00
Liabilities EUR 75,630,238.34
Other liabilities EUR 75,630,238.34
Trade creditors (for IAS incl. bills
of exchange) EUR 9,482,377.58
Liabilities from received advance
payments EUR 208,537.91
Liabilities due to shareholders EUR
63,051,441.79
Liabililties due to related
companiesEUR 2,263,684.18
Unspecified other liabilities EUR 624,196.88
thereof liabilities from tax /
financial authorities EUR 315,661.76
thereof liabilities from social
security EUR 15,060.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 150,451,327.71
Inventory change + own costs (+/-) EUR 451,135.21
Inventory change (+/-) EUR 449,302.33
Capitalised own costs EUR 1,832.88
Other operating income EUR 1,356,548.26
Cost of materials EUR 91,186,703.56
Raw materials and supplies, purchased
goods EUR 91,186,703.56
Gross result (+/-) EUR 61,072,307.62
Staff expenses EUR 24,836,215.72
Wages and salaries EUR 21,408,071.35
Social security contributions and
expenses for pension plans and
benefits EUR 3,428,144.37
Total depreciation EUR 2,432,449.29
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 2,432,449.29
Other operating expenses EUR 19,806,583.68
Operating result from continuing
operations EUR 13,997,058.93
Interest result (+/-) EUR 346,513.20
Interest and similar income EUR 3,720,636.85
Interest and similar expenses EUR 3,374,123.65
Financial result (+/-) EUR 346,513.20
Result from ordinary operations (+/-) EUR
14,343,572.13
Expenses for transfer of profits to a
parent company EUR 14,267,059.65
Income tax / refund of income tax
(+/-)EUR -272.44
Other taxes / refund of taxes EUR -76,240.04
Tax (+/-) EUR -76,512.48
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: 01.10.2014 - 30.09.2015
ASSETS EUR 107,994,179.43
Fixed assets EUR 14,163,186.70
Intangible assets EUR 1,039,027.00
Concessions, licences, rights EUR 392,753.00
Goodwill
EUR 646,274.00
Tangible assets EUR 12,944,159.70
Land / similar rights EUR 4,824,765.04
Plant / machinery EUR 6,034,528.07
Other tangible assets / fixtures and
fittings EUR 1,055,939.00
Advance payments made / construction
in progress EUR 1,028,927.59
Financial assets EUR 180,000.00
Other loans EUR 180,000.00
Current assets EUR 93,666,351.70
Stocks EUR 15,044,796.55
Raw materials, consumables and
supplies EUR 6,934,481.44
Finished goods / work in progress EUR
8,110,315.11
Accounts receivable EUR 69,198,607.16
Amounts due from shareholders EUR 52,641,428.53
Trade debtors EUR 13,356,042.82
Amounts due from related companies EUR
2,700,297.38
Other debtors and assets EUR 500,838.43
Liquid means EUR 9,422,947.99
Remaining other assets EUR 164,641.03
Accruals (assets) EUR 164,641.03
LIABILITIES EUR 107,994,179.43
Shareholders' equity EUR 28,824,939.36
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Reserves EUR 28,799,939.36
Capital reserves EUR
28,353,939.36
Retained earnings / revenue reserves
EUR 446,000.00
Provisions EUR 13,512,238.00
Pension provisions and comparable
provisions EUR 8,817,318.00
Other / unspecified provisions EUR 4,694,920.00
Liabilities EUR 65,657,002.07
Other liabilities EUR 65,657,002.07
Trade creditors (for IAS incl. bills
of exchange) EUR 10,942,105.44
Liabilities from received advance
payments EUR 323,479.80
Liabilities due to shareholders EUR 51,433,333.61
Liabililties due to related companiesEUR 2,360,845.09
Unspecified other liabilities EUR 597,238.13
thereof liabilities from tax /
financial authorities EUR 293,366.99
thereof liabilities from social
security EUR 17,295.00
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 141,039,447.07
Inventory change + own costs (+/-) EUR 600,237.75
Inventory change (+/-) EUR 599,453.04
Capitalised own costs EUR 784.71
Other operating income EUR 3,169,738.57
Cost of materials EUR 87,892,131.42
Raw materials and supplies, purchased
goods EUR 87,892,131.42
Gross result (+/-) EUR 56,917,291.97
Staff expenses EUR 23,400,572.98
Wages and salaries EUR 20,261,429.14
Social security contributions and
expenses for pension plans and
benefits EUR 3,139,143.84
Total depreciation EUR 2,368,706.88
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 2,368,706.88
Other operating expenses EUR 19,268,853.69
Operating result from continuing
operations EUR 11,879,158.42
Interest result (+/-) EUR -134,757.45
Interest and similar income EUR 3,239,823.16
thereof from related companies EUR 3,239,547.28
Interest and similar expenses EUR 3,374,580.61
thereof paid to related companies EUR
2,344,566.67
Financial result (+/-) EUR -134,757.45
Result from ordinary operations (+/-) EUR
11,744,400.97
Expenses for transfer of profits to a
parent company EUR 11,668,897.53
Income tax / refund of income tax
(+/-)EUR -178.14
Other taxes / refund of taxes EUR -75,325.30
Tax (+/-) EUR -75,503.44
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.52 |
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|
1 |
INR 86.05 |
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Euro |
1 |
INR 76.53 |
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EUR |
1 |
INR 77.78 |
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 : |
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.