MIRA INFORM REPORT

 

 

Report No. :

493734

Report Date :

03.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

C & A BUYING GMBH & CO. KG

 

 

Registered Office :

Wanheimer Str. 70, D 40468 Düsseldorf, Post Box:10 22 64, D 40013 Düsseldorf

 

 

Country :

Germany

 

 

Financials (as on) :

28.02.2017

 

 

Date of Incorporation :

13.01.1987

 

 

Com. Reg. No.:

HRA 10317

 

 

Legal Form :

Limited partnership with foreign private limited company as General Partner

 

 

Line of Business :

Other business support service activities n. e. c.

 

 

No. of Employees :

423

 

 

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

 

Maximum Credit Limit :

USD 351,015.70

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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 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, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2018.

 

Source : CIA

 

Company name and address

 

Report on:                    C & A Buying GmbH & Co. KG

 

 Company Status:         active

                                    Wanheimer Str. 70

                                    D 40468 Düsseldorf

                                    Post Box:

                                    10 22 64, D 40013 Düsseldorf

Telephone                     0211/9872-0

Telefax:                        0211/9872-155

Homepage:                   www.c-and-a.com

E-mail:                          cuabuydom@retail-sc.com

VAT no.:                       DE811809155

 

 

CONCLUSION

 

 We cannot give an opinion as to the granting of a credit in this particular case. Business relations are permissible.

 

 

Company summary

 

 Legal Form                  Ltd partnership w.foreign priv.ltd.comp. as General Partner

 Date of foundation:      1987

 Begin of business

 activities:                                 13.01.1987

 Registered on:             03.07.2001

 Register of

 companies:                  Local court 40227 Düsseldorf

 under:                          HRA 10317

 

 Total cap. contribution:                EUR          9,203,253.86

 

 Limited partner:

                      FRM PARTICIPATIONS S.A.

                      L - Strassen

                      Legal form: Other legal form

                      Share:             EUR          9,203,253.86

 General partner:

                      C & A Retail GmbH

                      CH - Zug

                      Legal form: Other legal form

 Proxy:

                      Tjeerd E. van der Zee

                      D 45470 Mülheim

                      authorized to jointly represent the company

                      born: 09.01.1971

 Proxy:

                      Alain Caparros

                      D 40210 Düsseldorf

                      authorized to jointly represent the company

                      born: 17.09.1956

                      Profession: Fully qualified management

                      expert

                      Nationality: French

                      Marital status: married

 Proxy:

                      Hans Pollet

                      B  Schilde

                      authorized to jointly represent the company

                      born: 23.06.1971

                      Nationality: Belgian

 Proxy:

                      Martijn E.H. van der Zee

                      D 40878 Ratingen

                      authorized to jointly represent the company

                      born: 05.10.1972

 Proxy:

                      Andreas Seitz

                      B  Tervuren

                      authorized to jointly represent the company

                      born: 06.09.1962

                      Nationality: Belgian

 

 Further functions/participations of C & A Retail GmbH (General

 partner)

 General partner:

                      C & A Mode GmbH & Co. KG

                      Wanheimer Str. 70

                      D 40468 Düsseldorf

                      Post Box:

                      10 11 11, D 40002 Düsseldorf

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR         36,872,632.08

                      contribution:

                      Registered

                      on:         04.09.1969

                      Reg. data:  40227 Düsseldorf, HRA 6237

 General partner:

                      C & A Services GmbH & Co. OHG

                      Wanheimer Str. 70

                      D 40468 Düsseldorf

                      Legal form: General partnership with private

                                  ltd. co. as general partner

                      Registered

                      on:         07.03.1996

                      Reg. data:  40227 Düsseldorf, HRA 12655

 

 

COMPANY HISTORY

 

 company name and legal form

 03.07.2001 - 09.03.2017  C & A Buying GmbH & Co. KG

                          Wanheimer Str. 70

                          D 40468 Düsseldorf

                          Ltd partnership with priv. ltd. company

                          as general partner

 12.10.1999 - 03.07.2001  C & A Buying KG

                          Hans-Günther-Sohl-Str. 4-10

                          D 40235 Düsseldorf

                          Limited partnership

 17.01.1996 - 12.10.1999  EBSCO European Buying Service Company &

                          Co.

                          Hans-Günther-Sohl-Str. 4-10

                          D 40235 Düsseldorf

                          Limited partnership

 04.01.1995 - 17.01.1996  EBSCO European Buying Service Company &

                          Co.

                          Goltsteinstr. 17

                          D 40211 Düsseldorf

                          Limited partnership

 13.01.1987 - 04.01.1995  HILLA-Grundstücksverwaltungsgesellschaft

                          mbH & Co. offene Handelsgesellschaft

                          D 40210 Düsseldorf

                          General partnership with private limited

                          company as partner

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 16.11.2012 - 09.03.2017  General partner

                          Cofra Düsseldorf GmbH

                          Carl-Theodor-Str. 6

                          D 40213 Düsseldorf

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 8299    Other business support service activities n. e. c.

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      C & A Buying GmbH & Co. KG

                      Dieselstr. 24-30

                      D 41189 Mönchengladbach

                      TEL.: 02166/5300

 

FINANCIAL INFORMATION

 

 Balance sheet year:      2016/2017

 

 

REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Wanheimer Str. 70

                                    D 40468 Düsseldorf

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK, 40002 DÜSSELDORF

 Sort. code: 30040000

 BIC: COBADEDDXXX

 

 

FINANCIAL FIGURES

 

 Turnover:            2015/2016          EUR         92,980,130.00

                      2016/2017          EUR        196,827,879.00

 Profit:              2015/2016          EUR         -2,146,532.00

                      2016/2017          EUR          5,239,715.00

 further business figures:

 Equipment:                              EUR          1,009,263.00

 Ac/ts receivable:                       EUR        359,376,539.00

 Liabilities:                            EUR        392,024,520.00

 Employees:                                                    423

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.03.2016 - 28.02.2017

 Equity ratio [%]:                  1.68

 Liquidity ratio:                   0.93

 Return on total capital [%]:       1.27

 

 Balance sheet ratios 01.03.2015 - 29.02.2016

 Equity ratio [%]:                  0.48

 Liquidity ratio:                   1.04

 Return on total capital [%]:      -0.58

 

 Balance sheet ratios 01.03.2014 - 28.02.2015

 Equity ratio [%]:                  2.79

 Liquidity ratio:                   1.06

 Return on total capital [%]:      17.88

 

 Balance sheet ratios 01.03.2013 - 28.02.2014

 Equity ratio [%]:                -20.69

 Liquidity ratio:                   1.13

 Return on total capital [%]:     -18.69

 

 

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:                                01.03.2016 - 28.02.2017

 

 ASSETS                                  EUR        414,205,956.14

  Fixed assets                           EUR          1,029,532.00

   Intangible assets                     EUR             20,269.00

    Concessions, licences, rights        EUR             20,269.00

   Tangible assets                       EUR          1,009,263.00

    Other tangible assets / fixtures and

    fittings                             EUR          1,009,263.00

  Current assets                         EUR        413,021,805.00

   Stocks                                EUR         53,642,992.93

   Accounts receivable                   EUR        359,376,538.57

    Trade debtors                        EUR          2,510,590.06

    Amounts due from related companies   EUR        323,782,380.16

    Other debtors and assets             EUR         33,083,568.35

   Liquid means                          EUR              2,273.50

  Remaining other assets                 EUR            154,619.14

   Accruals (assets)                     EUR            154,619.14

 

 LIABILITIES                             EUR        414,205,956.14

  Shareholders' equity                   EUR          1,900,000.00

   Capital                               EUR          1,900,000.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR          1,900,000.00

  Provisions                             EUR         20,281,436.14

   Pension provisions and comparable

   provisions                            EUR            525,671.00

   Provisions for taxes                  EUR            349,343.00

   Other / unspecified provisions        EUR         19,406,422.14

  Liabilities                            EUR        392,024,520.00

   Financial debts                       EUR         95,107,490.93

    Liabilities due to banks             EUR         95,107,490.93

   Other liabilities                     EUR        296,917,029.07

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR        244,609,265.05

    Liabililties due to related companiesEUR         23,118,669.36

    Unspecified other liabilities        EUR         29,189,094.66

     thereof liabilities from tax /

     financial authorities               EUR         29,160,599.53

     thereof liabilities from social

     security                            EUR              3,526.40

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        196,827,879.12

  Other operating income                 EUR         51,988,137.44

  Cost of materials                      EUR        163,019,170.85

  Gross result (+/-)                     EUR         85,796,845.71

  Staff expenses                         EUR         24,078,724.61

   Wages and salaries                    EUR         20,564,400.87

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          3,514,323.74

  Total depreciation                     EUR            429,981.27

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            429,981.27

  Other operating expenses               EUR         55,486,048.87

  Operating result from continuing

  operations                             EUR          5,802,090.96

  Interest result (+/-)                  EUR            -43,351.08

   Interest and similar income           EUR             59,694.64

    thereof from related companies       EUR             57,029.43

   Interest and similar expenses         EUR            103,045.72

    thereof paid to related companies    EUR             71,328.12

  Financial result (+/-)                 EUR            -43,351.08

  Result from ordinary operations (+/-)  EUR          5,758,739.88

  Income tax / refund of income tax (+/-)EUR           -519,024.53

  Tax (+/-)                              EUR           -519,024.53

  Annual surplus / annual deficit        EUR          5,239,715.35

 

 Type of balance sheet:                         Company balance sheet

 Origin of the present balance sheet:           electronic German Federal Gazette

 Financial year:                                01.03.2015 - 29.02.2016

 

 ASSETS                                  EUR        368,271,115.53

  Fixed assets                           EUR          1,175,837.00

   Intangible assets                     EUR             49,257.00

    Concessions, licences, rights        EUR             49,257.00

   Tangible assets                       EUR          1,126,580.00

    Other tangible assets / fixtures and

    fittings                             EUR          1,126,580.00

  Current assets                         EUR        366,927,673.71

   Accounts receivable                   EUR        366,900,158.32

    Amounts due from related companies   EUR        345,163,559.66

    Other debtors and assets             EUR         21,736,598.66

   Liquid means                          EUR             27,515.39

  Remaining other assets                 EUR            167,604.82

   Accruals (assets)                     EUR            156,962.69

   Active difference from asset

   offsetting                            EUR             10,642.13

 

 LIABILITIES                             EUR        368,271,115.53

  Shareholders' equity                   EUR          1,752,372.39

   Capital                               EUR          1,752,372.39

    Capital of the fully liable partner

    (LP, general partnership)            EUR             42,320.84

     Capital contribution of gen.

     partner/accounts of the pers. liable

     shareholder                         EUR             42,320.84

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR          1,710,051.55

  Provisions                             EUR         13,220,249.72

   Pension provisions and comparable

   provisions                            EUR            542,154.00

   Provisions for taxes                  EUR            215,049.20

   Other / unspecified provisions        EUR         12,463,046.52

  Liabilities                            EUR        353,298,493.42

   Financial debts                       EUR         82,966,877.73

    Liabilities due to banks             EUR         82,966,877.73

   Other liabilities                     EUR        270,331,615.69

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR        214,724,264.74

    Liabililties due to related companiesEUR         20,673,543.04

    Unspecified other liabilities        EUR         34,933,807.91

     thereof liabilities from tax /

     financial authorities               EUR         31,932,088.63

     thereof liabilities from social

     security                            EUR              1,200.00

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR         92,980,129.80

  Other operating income                 EUR        239,893,431.29

  Cost of materials                      EUR         57,016,241.42

   Purchased services                    EUR         57,016,241.42

  Gross result (+/-)                     EUR        275,857,319.67

  Staff expenses                         EUR         26,999,828.63

   Wages and salaries                    EUR         23,416,016.27

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          3,583,812.36

  Total depreciation                     EUR            476,310.94

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            461,024.17

   Depreciation on current assets (+/-)  EUR             15,286.77

  Other operating expenses               EUR        250,772,776.97

  Operating result from continuing

  operations                             EUR         -2,391,596.87

  Interest result (+/-)                  EUR            862,929.23

   Interest and similar income           EUR          1,036,479.51

    thereof from related companies       EUR          1,029,344.40

   Interest and similar expenses         EUR            173,550.28

    thereof paid to related companies    EUR            128,567.60

  Financial result (+/-)                 EUR            862,929.23

  Result from ordinary operations (+/-)  EUR         -1,528,667.64

  Income tax / refund of income tax (+/-)EUR           -617,864.58

  Tax (+/-)                              EUR           -617,864.58

  Annual surplus / annual deficit        EUR         -2,146,532.22

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.23

UK Pound

1

INR 89.71

Euro

1

INR 79.50

Euro

1

INR 80.31

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

SYL

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.