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MIRA INFORM REPORT
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Report No. : |
487053 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
VESTOLIT GMBH |
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Registered Office : |
Paul-Baumann-Str. 1 D
45772 Marl |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
01.06.1999 |
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Com. Reg. No.: |
HRB 5547 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Manufacture of other chemical products
n.e.c. ·
Wholesale of chemical products
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No. of Employees : |
713 |
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 and address
VESTOLIT GmbH
Paul-Baumann-Str. 1
D 45772 Marl
Telephone:02365/490
Telefax: 02365/496625
Homepage: www.vestolit.de
E-mail: info@vestolit.de
Company
Status
Active
VAT
no.
DE290033558
Tax
ID number
359/5791/0601
Company
summery
LEGAL FORM Private limited company
Date of foundation: 01.06.1999
Shareholders'
agreement: 01.06.1999
Registered on: 13.04.2000
Commercial Register: Local
court 45879 Gelsenkirchen
under: HRB 5547
Share capital: EUR 510,800.00
Shareholder:
MEXICHEM SPECIALTY COMPOUNDS LIMITED
8 Beler
Way, Leicester Road
Industrial Estate, Melton M.
GB LE13
0DG Leicestershire
Legal
form: Other legal form
Share: EUR 510,800.00
Manager:
Dr.
Ing. Dieter Polte
Kilianstr. 106
D 46514
Schermbeck
having
sole power of representation
born:
10.12.1957
Marital
status: married
Manager:
Bárbaro
Carlos Manrique Rocha
MEX Mexiko Stadt
having
sole power of representation
born:
04.12.1955
Nationality: Mexican
President of the Supervisory Board:
Dr.
Kurt Jürgen Kinzius
In den
Blamüsen 28
D 40489
Düsseldorf
born:
17.02.1957
Profession: Businessman
Member of the Supervisory Board:
Michael
Mathias Schuster
D 41569
Rommerskirchen
born:
07.02.1972
Member of the Supervisory Board:
Eugen
Ostkamp
D 45768
Marl
Marital
status: unknown
Proxy:
Wilfried Lersch
D 45721
Haltern am See
authorized to jointly represent the company
born:
25.09.1961
Profession: Businessman
Proxy:
Dr.
Michael Beziel
D 46483
Wesel
authorized to jointly represent the company
born:
04.06.1960
COMPANY
HISTORY
company name and legal form
13.04.2000 - 30.08.2013
VESTOLIT Holding GmbH
Paul-Baumann-Str. 1
D
45772 Marl
Private limited company
01.06.1999 - 13.04.2000 MWW
Neunundzwanzigste
Vermögensverwaltungs GmbH
Bockenheimer
Landstr. 51-53
D
60325 Frankfurt
Private limited company
RESIGNED
ACTING PERSONS AND SHAREHOLDERS
19.09.2013 - 10.02.2016
Manager
Dr.
Michael Träger
D 45721 Haltern am See
30.06.2014 - 19.05.2015
Member of the Supervisory Board
Florian Kawohl
D
61348 Bad Homburg
BUSINESS
ACTIVITIES
Main industrial sector
2016 Manufacture of
plastics in primary forms
2059 Manufacture of other
chemical products n.e.c.
46750 Wholesale of
chemical products
Secondary industrial sector
6420 Activities of
holding companies
PARTICIPATIONS
Limited partner:
Salzgewinnungsgesellschaft
Westfalen mbH &
Co. KG
Hans-Böckler-Allee 20
D 30173
Hannover
Legal
form: Ltd partnership with priv. ltd.
company as general partner
Company
Status: active
Total
cap. EUR 5,124,000.00
contribution:
Share: EUR 1,281,000.00
Reg.
data: 08.06.2011
Local court 30175 Hannover
HRA 202079
Shareholder:
Salzgewinnung Westfalen Verwaltungs GmbH
Hans-Böckler-Allee 20
D 30173 Hannover
Legal
form: Private limited company
Company
Status: active
Share
capital: EUR 25,000.00
Share: EUR 6,250.00
Reg.
data: 28.06.2011
Local court 30175 Hannover
HRB 207244
FINANCIAL
INFORMATION
Payment experience: Regular
Negative information: We have
no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: Tenant
Address Paul-Baumann-Str. 1
D 45772 Marl
Land register documents were not available.
BANKERS
COMMERZBANK, 45116 ESSEN
Sort. code: 36040039
BIC: COBADEFFXXX
FINANCIAL
FIGURES
Turnover: 2016 EUR 509,986,685.00
Profit: 2016 EUR 20,276,026.00
Equipment: EUR 1,085,958.00
Ac/ts
receivable:
EUR 80,978,806.00
Liabilities: EUR 144,184,862.00
Employees:
713
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thereof permanent staff:
688
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Trainees:
25
BALANCE SHEETS
Balance sheet ratios 01.01.2016
- 31.12.2016
Equity ratio [%]:
29.68
Liquidity ratio:
0.72
Return on total capital [%]:
5.77
Balance sheet ratios 01.01.2015
- 31.12.2015
Equity ratio [%]:
27.83
Liquidity ratio:
0.39
Return on total capital [%]:
-3.23
Balance sheet ratios 01.01.2014
- 31.12.2014
Equity ratio [%]:
34.53
Liquidity ratio:
0.58
Return on total capital [%]:
-1.96
Balance sheet ratios 01.01.2013
- 31.12.2013
Equity ratio [%]:
36.76
Liquidity ratio:
0.32
Return on total capital [%]:
-10.43
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 351,352,268.72
Fixed assets EUR 192,547,708.41
Intangible assets EUR 2,925,431.63
Internally generated industrial
property rights and similar rights
and assets EUR 1,467,976.31
Concessions, licences, rights EUR 1,236,713.50
Other / unspecified intangible
assetsEUR 220,741.82
Tangible assets EUR 176,791,026.78
Land / similar rights EUR 18,982,675.30
Plant / machinery EUR 144,062,286.08
Other tangible assets / fixtures and
fittings EUR 1,085,958.01
Advance payments made / construction
in progress EUR 12,660,107.39
Financial assets EUR 12,831,250.00
Shares in participations /
subsidiaries and the like EUR 12,831,250.00
Shares in related companies EUR 25,000.00
Shares in investee companies EUR 12,806,250.00
Current assets EUR 158,439,374.97
Stocks EUR 45,331,168.70
Raw materials, consumables and
supplies EUR 6,565,773.24
Finished goods / work in progress EUR
38,765,395.46
Accounts receivable EUR 80,978,806.34
Trade debtors EUR 17,227,200.52
Amounts due from related companies EUR
39,324,104.78
Other debtors and assets EUR 24,427,501.04
Liquid means EUR 32,129,399.93
Remaining other assets EUR 365,185.34
Accruals (assets) EUR 365,185.34
LIABILITIES EUR 351,352,268.72
Shareholders' equity EUR 104,265,863.24
Capital EUR 510,800.00
Subscribed capital (share capital) EUR 510,800.00
Reserves EUR 62,528,521.52
Capital reserves EUR 57,097,586.44
Retained earnings / revenue reserves
EUR 5,430,935.08
Balance sheet profit/loss (+/-) EUR
41,226,541.72
Balance sheet profit / loss EUR 41,226,541.72
Provisions EUR 73,803,617.38
Pension provisions and comparable
provisions EUR 53,803,573.00
Provisions for taxes EUR 6,222,281.00
Other / unspecified provisions EUR 13,777,763.38
Liabilities EUR 144,184,862.14
Financial debts EUR 79,564,131.82
Liabilities due to banks EUR 79,564,131.82
Other liabilities EUR 64,620,730.32
Trade creditors (for IAS incl. bills
of exchange) EUR 52,730,050.35
Liabilities from received advance
payments EUR 71,852.27
Liabililties due to related
companiesEUR 5,612,985.01
Liabilities due to investee
companiesEUR 169,594.04
Unspecified other liabilities EUR
6,036,248.65
thereof liabilities from tax /
financial authorities EUR 3,049,000.00
Other liabilities EUR 29,097,925.96
Deferrals (liabilities) EUR 6,637,406.89
Deferred taxes (not included under
provisions/liabilities) EUR 22,460,519.07
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 509,986,685.41
Manufacturing costs EUR 409,489,698.54
Gross result on sales EUR 100,496,986.87
Distribution costs EUR 55,503,430.73
General administration expenses EUR 11,655,540.03
Research and development costs EUR 6,143,388.72
Other operating income EUR 13,190,014.93
Other operating expenses EUR 7,611,806.42
Operating result from continuing
operations EUR 32,772,835.90
Interest result (+/-) EUR -1,210,059.28
Interest and similar income EUR 1,168,271.80
thereof from related companies EUR 1,168,000.00
Interest and similar expenses EUR 2,378,331.08
Financial result (+/-) EUR -1,210,059.28
Result from ordinary operations (+/-) EUR
31,562,776.62
Income tax / refund of income tax
(+/-)EUR -11,083,872.22
Other taxes / refund of taxes EUR -202,878.07
Tax (+/-) EUR -11,286,750.29
Annual surplus / annual deficit EUR 20,276,026.33
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 301,772,193.91
Fixed assets EUR 198,930,272.01
Intangible assets EUR 3,400,976.37
Concessions, licences, rights EUR 1,591,273.60
Advance payments for intang. assets EUR
1,809,702.77
Tangible assets EUR 182,698,045.64
Land / similar rights EUR 20,394,886.08
Plant / machinery EUR 156,378,431.12
Other tangible assets / fixtures and
fittings EUR 1,397,945.34
Advance payments made / construction
in progress EUR 4,526,783.10
Financial assets EUR 12,831,250.00
Shares in participations /
subsidiaries and the like EUR 12,831,250.00
Shares in related companies EUR 25,000.00
Shares in investee companies EUR 12,806,250.00
Current assets EUR 102,462,183.48
Stocks EUR 42,139,154.73
Raw materials, consumables and
supplies EUR 7,693,085.04
Finished goods / work in progress EUR
34,446,069.69
Accounts receivable EUR 37,012,508.68
thereof total due from shareholders EUR 0.00
Trade debtors EUR 14,819,072.36
Amounts due from related companies EUR
2,148,376.35
Other debtors and assets EUR 20,045,059.97
Liquid means EUR 23,310,520.07
Remaining other assets EUR 379,738.42
Accruals (assets) EUR 379,738.42
LIABILITIES EUR 301,772,193.91
Shareholders' equity EUR 83,989,836.91
Capital EUR 510,800.00
Subscribed capital (share capital) EUR 510,800.00
Reserves EUR 62,528,521.52
Capital reserves EUR 57,097,586.44
Retained earnings / revenue reserves
EUR 5,430,935.08
Balance sheet profit/loss (+/-) EUR 20,950,515.39
Balance sheet profit / loss EUR
20,950,515.39
Provisions EUR 72,737,189.21
Pension provisions and comparable
provisions EUR 59,406,292.00
Provisions for taxes EUR 752,007.00
Other / unspecified provisions EUR 12,578,890.21
Liabilities EUR 117,950,570.06
Financial debts EUR 51,093,035.38
Liabilities due to banks EUR 51,093,035.38
Other liabilities EUR 66,857,534.68
Trade creditors (for IAS incl. bills
of exchange) EUR 51,049,759.59
Liabilities from received advance
payments EUR 24,905.00
Liabililties due to related
companiesEUR 12,297,711.14
Liabilities due to investee
companiesEUR 155,520.45
Unspecified other liabilities EUR 3,329,638.50
thereof liabilities from tax /
financial authorities EUR 737,000.00
thereof liabilities from social
security EUR 146,000.00
Other liabilities EUR 27,094,597.73
Deferrals (liabilities) EUR 7,402,206.34
Deferred taxes (not included under
provisions/liabilities) EUR 19,692,391.39
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 441,069,652.32
Manufacturing costs EUR 363,930,937.89
Gross result on sales EUR 77,138,714.43
Research and development costs EUR 4,955,554.28
Other operating income EUR 5,802,288.03
Other operating expenses EUR 60,945,511.13
Operating result from continuing
operations EUR 17,039,937.05
Result from participating interests
(+/-) EUR 336,949.55
Expenses / income from participations
EUR 336,949.55
Income from related companies EUR 336,949.55
Interest result (+/-) EUR -10,807,206.26
Interest and similar income EUR 279,160.98
thereof from related companies EUR 279,000.00
Interest and similar expenses EUR 11,086,367.24
thereof paid to related companies EUR
2,942,000.00
Other financial result EUR -16,514,000.00
Depreciation on financial assets and
marketable securities EUR 16,514,000.00
Financial result (+/-) EUR -26,984,256.71
Result from ordinary operations (+/-) EUR
-9,944,319.66
Income tax / refund of income tax
(+/-)EUR 393,452.19
Other taxes / refund of taxes EUR -203,400.00
Tax (+/-) EUR 190,052.19
Annual surplus / annual deficit EUR -9,754,267.47
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.98 |
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|
1 |
INR 88.13 |
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Euro |
1 |
INR 78.35 |
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Euro |
1 |
INR 77.95 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
TRU |
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 |
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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.