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MIRA INFORM REPORT
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Report No. : |
516984 |
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Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ORION ENGINEERED CARBONS GMBH |
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Registered Office : |
Hahnstr. 49 D 60528 Frankfurt |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
10.01.2011 |
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Com. Reg. No.: |
HRB 90485 |
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Legal Form : |
Private limited
company |
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Line of Business : |
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No. of Employees : |
476 |
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 : |
No Complaints |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 economic 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, investment, and exports are likely to drive
German GDP growth in 2018, and the country’s budget and trade surpluses are
likely to remain high.
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Source
: CIA |
Company
name and address
ORION ENGINEERED
CARBONS GMBH
Company Status: active
Hahnstr. 49
D 60528 Frankfurt
Telephone:069/365054100
Telefax: 069/365054784
Homepage: www.orioncarbons.com
E-mail: info@orioncarbons.com
VAT no.: DE815290848
Company
summary
LEGAL FORM Private limited company
Date of foundation: 10.01.2011
Shareholders'
agreement: 10.01.2011
Registered on: 16.03.2011
Commercial Register: Local court 60313 Frankfurt
under: HRB 90485
Share capital: EUR 25,000.00
Shareholder:
Orion Engineered Carbons Bondco GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered on: 15.03.2011
Reg. data: 60313 Frankfurt, HRB 90478
Profit transfer agreement
Manager:
Charles Herlinger
GB London
having sole power of representation
born: 05.11.1955
Nationality: British
Manager:
Jacky Clem
USA Sparta/New Jersey
born: 30.08.1953
Nationality: USA
Proxy:
David Craig Deters
D 53111 Bonn
authorized to jointly represent the company
born: 20.11.1958
Proxy:
Jörg Schuhoff
Im Spring 15
D 42555 Velbert
authorized to jointly represent the company
born: 14.06.1962
Profession: Fully qualified management
expert
Marital status: married
Proxy:
Dr. Jürgen Peter Ahl
Adolph-Kolping-Str. 14
D 65812 Bad Soden
authorized to jointly represent the company
born: 02.04.1957
Profession: graduate engineer
Proxy:
Michael Reers
Coerdestr. 38
D 48147 Münster
authorized to jointly represent the company
born: 17.12.1968
Proxy:
Georg Hohn
D 63808 Haibach
authorized to jointly represent the company
born: 03.10.1962
Proxy:
Dr Armin Wunderlich
D 63546 Hammersbach
authorized to jointly represent the company
born: 17.09.1956
Proxy:
Marco Gruß
D 60308 Frankfurt
authorized to jointly represent the company
born: 05.02.1968
Proxy:
Dr. Claudine Mollenkopf
D 60311 Frankfurt
authorized to jointly represent the company
born: 01.11.1966
Proxy:
Dr. Udo Wieschnowsky
D 50374 Erftstadt
authorized to jointly represent the company
born: 28.09.1959
Proxy:
Dr. Dirk Rechenbach
Mühlstr. 42
D 63179 Obertshausen
authorized to jointly represent the company
born: 10.04.1968
Proxy:
Enzo Pezzolla
D 50389 Wesseling
authorized to jointly represent the company
born: 04.04.1960
Proxy:
Dr. Christian Eggert
D 60528 Frankfurt
authorized to jointly represent the company
born: 25.09.1973
Proxy:
Erik Thiry
D 61231 Bad Nauheim
authorized to jointly represent the company
born: 09.07.1970
Proxy:
Marcus Koppers
Neustr. 19d
D 41352 Korschenbroich
authorized to jointly represent the company
born: 25.05.1970
Marital status: unknown
Proxy:
Damon Alexander Denson
D 50667 Köln
authorized to jointly represent the company
born: 17.11.1964
Further
functions/participations of Charles Herlinger (Manager)
Manager:
CB International Services Company GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 18.02.2013
Reg. data: 60313 Frankfurt, HRB 95860
Manager:
Orion Engineered Carbons International GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 02.02.2011
Reg. data: 60313 Frankfurt, HRB 90107
Manager:
Orion Engineered Carbons Bondco GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 15.03.2011
Reg. data: 60313 Frankfurt, HRB 90478
Manager:
Orion Engineered Carbons Holdings GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 17.03.2011
Reg. data: 60313 Frankfurt, HRB 90495
Liquidator:
Carbon Black OpCo GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company in
liquidation
Share capital: EUR 25,000.00
Registered
on: 10.04.2013
Reg. data: 60313 Frankfurt, HRB 96244
Further
functions/participations of Jacky Clem (Manager)
Manager:
Orion Engineered Carbons International GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 02.02.2011
Reg. data: 60313 Frankfurt, HRB 90107
Manager:
Orion Engineered Carbons Bondco GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 15.03.2011
Reg. data: 60313 Frankfurt, HRB 90478
COMPANY
HISTORY
company name and
legal form
05.10.2011 - 14.06.2012 Orion Engineered Carbons GmbH
Rodenbacher Chaussee 4
D 63457 Hanau
Private limited company
20.04.2011 - 04.10.2011 Kinove German Bidco GmbH
D 60306 Frankfurt
Private limited company
16.03.2011 - 19.04.2011 Blitz F11-eins-fünf GmbH
D 60306 Frankfurt
Private limited company
BUSINESS
ACTIVITIES
Main industrial
sector
2059 Manufacture of other chemical products n.e.c.
46189 Agents involved in the sale of other goods n.e.c.
4675 Wholesale of chemical products
6420 Activities of holding companies
BRANCHES
AND FACTORIES
Works:
Orion Engineered Carbons GmbH
Harry-Kloepfer-Str. 1
D 50997 Köln
TEL.: 02233/964202
Works:
Orion Engineered Carbons GmbH
Rodenbacher Chaussee 4
D 63457 Hanau
TEL.: 06181/59-6052
FAX.: 06181/59-76052
PARTICIPATIONS
Limited partner:
Kommanditgesellschaft Deutsche Gasrußwerke
G.m.b.H. & Co.
Weidenstr. 70-72
D 44147 Dortmund
Post Box:
10 13 45
Legal form: Ltd partnership with priv. ltd.
company as general partner
Company Status: active
Total cap. EUR 7,679,000.00
contribution:
Share: EUR 4,173,400.00
Reg. data: 07.08.1963
Local court 44135 Dortmund
HRA 8311
Shareholder:
Deutsche Gasrußwerke Gesellschaft mit
beschränkter Haftung
Weidenstr. 70-72
D 44147 Dortmund
Legal form: Private limited company
Company Status: active
Share capital: EUR 130,000.00
Share: EUR 65,000.00
Reg. data: 12.12.1936
Local court 44135 Dortmund
HRB 2019
Shareholder:
Orion Engineered Carbons International GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 02.02.2011
Local court 60313 Frankfurt
HRB 90107
Shareholder:
CB International Services Company GmbH
Hahnstr. 49
D 60528 Frankfurt
Legal form: Private limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 18.02.2013
Local court 60313 Frankfurt
HRB 95860
FINANCIAL
INFORMATION
Payment experience: within agreed terms
Negative information: No Complaints
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 Hahnstr. 49
D 60528 Frankfurt
Land register documents were not available.
BANKERS
UNICREDIT BANK - HYPOVEREINSBANK, 80311 MÜNCHEN
Sort. code: 70020270
BIC: HYVEDEMMXXX
FINANCIAL
FIGURES
Turnover: 2016 EUR 454,536,763.00
Profit: 2016 EUR 7,162,897.00
Equipment: EUR 3,697,523.00
Ac/ts
receivable:
EUR 594,243,360.00
Liabilities: EUR 783,132,910.00
Real estate of the
firm: EUR 10,449,120.00
Employees: 476
- thereof permanent
staff:
476
Profit transfer
agreement to:
Orion Engineered Carbons Bondco GmbH
Hahnstr. 49
D 60528 Frankfurt
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 16.93
Liquidity ratio: 0.63
Return on total capital [%]: 0.71
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 16.58
Liquidity ratio: 0.56
Return on total capital [%]: -1.44
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 17.24
Liquidity ratio: 0.50
Return on total capital [%]: 0.69
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: 01.01.2016 - 31.12.2016
ASSETS EUR 1,154,038,275.71
Fixed assets EUR 502,382,942.07
Intangible assets EUR 96,476,077.23
Concessions, licences, rights EUR 65,969,616.70
Goodwill EUR 30,506,460.53
Tangible assets EUR 57,132,570.21
Land / similar rights EUR 10,449,119.89
Plant / machinery EUR 30,160,147.80
Other tangible assets / fixtures and
fittings EUR 3,697,522.69
Advance payments made / construction
in progress EUR 12,825,779.83
Financial assets EUR 348,774,294.63
Shares in participations /
subsidiaries and the like EUR 43,463,996.59
Shares in related companies EUR 39,257,552.33
Shares in investee companies EUR 4,206,444.26
Loans to participations /
subsidiaries and the like EUR 305,310,298.04
Loans to related companies EUR 305,310,298.04
Current assets EUR 637,548,644.99
Stocks EUR 22,175,537.91
Raw materials, consumables and
supplies EUR 5,426,005.83
Finished goods / work in progress EUR
16,749,532.08
Accounts receivable EUR 594,243,360.43
Trade debtors EUR 71,762,160.27
Amounts due from related companies EUR 513,379,799.97
Amounts due from investee companies EUR
697,718.58
Other debtors and assets EUR 8,403,681.61
Liquid means EUR 21,129,746.65
Remaining other assets EUR
14,106,688.65
Accruals (assets) EUR 14,106,688.65
LIABILITIES EUR 1,154,038,275.71
Shareholders' equity EUR 310,462,943.83
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Reserves EUR 299,975,000.00
Capital reserves EUR 299,975,000.00
Balance sheet profit/loss (+/-) EUR 10,462,943.83
Profit / loss brought forward EUR 10,462,943.83
Provisions EUR 60,442,422.20
Pension provisions and comparable
provisions EUR 31,849,110.00
Provisions for taxes EUR 0.68
Other / unspecified provisions EUR 28,593,311.52
Liabilities EUR 783,132,909.68
Financial debts EUR
630,581,053.76
Liabilities due to banks EUR 630,581,053.76
Other liabilities EUR 152,551,855.92
Trade creditors (for IAS incl. bills
of exchange) EUR 30,293,904.13
Liabilities due to shareholders EUR 6,553,798.73
Liabililties due to related
companiesEUR 104,095,296.28
Liabilities due to investee
companiesEUR 10,353,403.64
Unspecified other liabilities EUR 1,255,453.14
thereof liabilities from tax /
financial authorities EUR 800,666.50
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 454,536,762.56
Inventory change + own costs (+/-) EUR 1,387,037.90
Inventory change (+/-) EUR 1,387,037.90
Other operating income EUR 117,173,066.40
Cost of materials EUR 238,067,552.37
Raw materials and supplies, purchased
goods EUR 238,067,552.37
Gross result (+/-) EUR 335,029,314.49
Staff expenses EUR 53,534,326.33
Wages and salaries EUR 43,065,829.87
Social security contributions and
expenses for pension plans and
benefits EUR 10,468,496.46
Total depreciation EUR 26,166,776.18
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 26,166,776.18
Other operating expenses EUR 214,595,580.09
Operating result from continuing
operations EUR 40,732,631.89
Result from participating interests
(+/-) EUR 418,871.11
Expenses / income from participations
EUR 418,871.11
Income from related companies EUR 418,871.11
Interest result (+/-) EUR -39,810,742.88
Interest and similar income EUR 12,632,179.33
Interest and similar expenses EUR 52,442,922.21
Other financial result EUR 6,987,291.13
Income from securities and loans from
financial assets EUR 6,987,291.13
Financial result (+/-) EUR -32,404,580.64
Result from ordinary operations (+/-) EUR
8,328,051.25
Expenses for transfer of profits to a
parent company EUR 7,162,897.32
Income tax / refund of income tax
(+/-)EUR -892,417.90
Other taxes / refund of taxes EUR -272,736.03
Tax (+/-) EUR -1,165,153.93
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: 01.01.2015 - 31.12.2015
ASSETS EUR 1,156,917,055.47
Fixed assets EUR 551,372,361.15
Intangible assets EUR 111,881,530.92
Concessions, licences, rights EUR 77,985,463.66
Goodwill EUR 33,896,067.26
Tangible assets EUR 57,028,717.40
Land / similar rights EUR 10,515,691.75
Plant / machinery EUR 34,066,238.24
Other tangible assets / fixtures and
fittings EUR 3,031,627.98
Advance payments made / construction
in progress EUR 9,415,159.43
Financial assets EUR 382,462,112.83
Shares in participations /
subsidiaries and the like EUR 43,463,996.59
Shares in related companies EUR 39,257,552.33
Shares in investee companies EUR 4,206,444.26
Loans to participations /
subsidiaries and the like EUR 338,998,116.24
Loans to related companies EUR
338,998,116.24
Current assets EUR 587,811,028.03
Stocks EUR 19,112,708.98
Raw materials, consumables and
supplies EUR 3,802,023.22
Finished goods / work in progress EUR
15,310,685.76
Accounts receivable EUR 555,006,071.58
Trade debtors EUR 61,813,345.16
Amounts due from related companies EUR
483,097,371.93
Amounts due from investee companies EUR
697,718.58
Other debtors and assets EUR 9,397,635.91
Liquid means EUR 13,692,247.47
Remaining other assets EUR 17,733,666.29
Accruals (assets) EUR 17,733,666.29
LIABILITIES EUR 1,156,917,055.47
Shareholders' equity EUR 331,662,943.83
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Reserves EUR 321,175,000.00
Capital reserves EUR 321,175,000.00
Balance sheet profit/loss (+/-) EUR 10,462,943.83
Profit / loss brought forward EUR 10,462,943.83
Provisions EUR 59,844,724.55
Pension provisions and comparable
provisions EUR 29,414,141.00
Provisions for taxes EUR 26,862.56
Other / unspecified provisions EUR 30,403,720.99
Liabilities EUR 765,409,387.09
Financial debts EUR 668,992,289.93
Liabilities due to banks EUR 668,992,289.93
Other liabilities EUR 96,417,097.16
Trade creditors (for IAS incl. bills
of exchange) EUR 26,699,846.20
Liabililties due to related
companiesEUR 60,207,362.84
Liabilities due to investee
companiesEUR 8,295,863.49
Unspecified other liabilities EUR 1,214,024.63
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 470,780,475.59
Inventory change + own costs (+/-) EUR 3,072,492.31
Inventory change (+/-) EUR 3,072,492.31
Other operating income EUR
137,870,780.79
Cost of materials EUR 300,875,331.37
Raw materials and supplies, purchased
goods EUR 300,875,331.37
Gross result (+/-) EUR 310,848,417.32
Staff expenses EUR 51,061,210.09
Wages and salaries EUR 42,443,649.97
Social security contributions and
expenses for pension plans and
benefits EUR 8,617,560.12
Total depreciation EUR 25,780,218.73
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 25,780,218.73
Other operating expenses EUR 211,659,535.45
Operating result from continuing
operations EUR 22,347,453.05
Result from participating interests
(+/-) EUR 492,405.41
Expenses / income from participations
EUR 492,405.41
Income from related companies EUR 492,405.41
Interest result (+/-) EUR -43,655,398.54
Interest and similar income EUR 12,279,428.64
thereof from related companies EUR 11,092,000.00
Interest and similar expenses EUR 55,934,827.18
thereof paid to related companies EUR
6,367,000.00
Other financial result EUR 8,488,043.17
Income from securities and loans from
financial assets EUR 8,488,043.17
thereof related companies EUR 8,488,043.17
Financial result (+/-) EUR -34,674,949.96
Result from ordinary operations (+/-) EUR
-12,327,496.91
Income from assumption of loss by
parent company EUR 14,212,510.47
Income tax / refund of income tax
(+/-)EUR -19,666.38
Other taxes / refund of taxes EUR -1,865,347.18
Tax (+/-) EUR -1,885,013.56
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
|
Euro |
1 |
INR 79.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.