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MIRA
INFORM REPORT
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Report No. : |
508704 |
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Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
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Name : |
CELANESE SALES GERMANY GMBH |
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Registered Office : |
Am
Unisys Park 1 D 65843 Sulzbach |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
09.06.2004 |
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Com. Reg. No.: |
HRB 43545 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Subject is engaged in Wholesale of coating
materials. ·
Wholesale of chemical products |
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No. of Employees : |
64 |
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 : |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 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
Celanese
Sales Germany GmbH
Company
Status: active
Am Unisys Park 1
D 65843 Sulzbach
Telephone:069/450090
Telefax:
069/4500950000
Homepage: www.celanese.com
E-mail:
pr@celanese.com
VAT
no.: DE812225248
LEGAL
FORM Private limited company
Registered
on: 09.06.2004
Commercial
Register: Local court 60313 Frankfurt
under: HRB
43545
Share
capital:
EUR 7,500,000.00
Shareholder:
Celanese Services Germany
GmbH
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Private
limited company
Share capital: EUR 5,964,000.00
Share: EUR 7,500,000.00
Registered on: 15.11.2006
Reg. data: 64283
Darmstadt, HRB 83534
Control and profit
transfer agreement
Manager:
Andreas Oberkirch
D 64625 Bensheim
born: 26.06.1965
Manager:
Thomas Liebig
D 60265 Frankfurt
born: 16.05.1979
Proxy:
Michael Sauerborn
In der Lei 6
D 65527 Niedernhausen
authorized to jointly
represent the company
Proxy:
Peter Brown
D 60311 Frankfurt
born: 10.04.1964
Proxy:
Katharina Starck
D 65719 Hofheim
authorized to jointly
represent the company
born: 27.07.1966
Marital status: unknown
Proxy:
Frank Reuter
D 60265 Frankfurt
authorized to jointly
represent the company
born: 04.06.1964
Marital status: unknown
Proxy:
Dorothee Harre
D 60311 Frankfurt
authorized to jointly
represent the company
born: 10.09.1969
Proxy:
Peter Kalb
D 65812 Bad Soden
authorized to jointly
represent the company
born: 04.01.1969
Proxy:
Dr. Michael Willms
D 61137 Schöneck
authorized to jointly represent the
company
born: 10.09.1971
Profession: Solicitor
Proxy:
Frank Görgen
D 63450 Hanau
authorized to jointly represent
the company
born: 14.11.1968
Proxy:
Michael Sauer
D 65527 Niedernhausen
authorized to jointly
represent the company
born: 19.10.1966
Proxy:
Nicole Frenzl
D 61440 Oberursel
authorized to jointly
represent the company
born: 27.09.1974
Further
functions/participations of Andreas Oberkirch (Manager)
Manager:
Celanese IP Germany GmbH
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.07.2015
Reg. data: 60313 Frankfurt, HRB 102582
President
of the Supervisory Board:
Celanese Services Germany
GmbH
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Private
limited company
Share capital: EUR 5,964,000.00
Registered
on: 15.11.2006
Reg. data: 64283 Darmstadt, HRB 83534
Further
functions/participations of Thomas Liebig (Manager)
Manager:
Celanese IP Germany GmbH
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 07.07.2015
Reg. data: 60313 Frankfurt, HRB 102582
COMPANY HISTORY
company
name and legal form
07.08.2015
- 04.09.2015 Celanese Sales Germany GmbH
D 15230 Frankfurt
Private limited
company
31.05.2011
- 06.08.2015 Nutrinova Nutrition
Specialties & Food
Ingredients GmbH
Am Unisys Park 1
D 65843 Sulzbach
Private limited
company
24.06.2005
- 30.05.2011 Nutrinova Nutrition
Specialties & Food
Ingredients GmbH
Professor-Staudinger-Str.
D 65451 Kelsterbach
Private limited
company
21.08.1997
- 23.06.2005 Nutrinova Nutrition
Specialties & Food
Ingredients GmbH
Brüningstr. 38-50
D 65929 Frankfurt
Private limited
company
04.08.1997
- 20.08.1997 DIOGENES Zehnte
Vermögensverwaltungs
GmbH
Brüningstr. 38-50
D 65929 Frankfurt
Private limited
company
30.07.1996
- 03.08.1997
BLB-Beteiligungsgesellschaft Chi mbH
Brienner Str. 20
D 80333 München
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
01.06.2016
- 27.01.2018 Manager
Stefan Kutta
D 61479 Glashütten
16.10.2013
- 18.08.2015 Manager
Christoph Katz
D 49074 Osnabrück
BUSINESS ACTIVITIES
Main
industrial sector
46736 Wholesale of coating materials
46750 Wholesale of chemical products
BRANCHES AND FACTORIES
Branch:
Celanese Sales Germany GmbH
Frankfurter Str. 111
D 61476 Kronberg
PARTICIPATIONS
Limited
partner:
Infraserv GmbH & Co.
Höchst KG
Industriepark Höchst ,
Gebäude
C770
D 65926 Frankfurt
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 4,090,334.79
contribution:
Share: EUR 499,020.87
Reg. data: 16.12.1996
Local court
60313 Frankfurt
HRA 28182
Limited
partner:
InfraServ GmbH & Co.
Knapsack KG
Industriestr. 300
Chemiepark
Knapsack
D 50354 Hürth
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 2,556,459.38
contribution:
Share: EUR 127,822.97
Reg. data: 25.02.1997
Local court
50939 Köln
HRA 18732
Limited
partner:
Celanese Production
Germany GmbH & Co. KG
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 2,500.00
contribution:
Share: EUR 2,500.00
Reg. data: 24.03.2015
Local court
60313 Frankfurt
HRA 48398
Shareholder:
Celanese IP Germany GmbH
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 07.07.2015
Local court
60313 Frankfurt
HRB 102582
Shareholder:
RIOMAVA GmbH
Am Unisys Park 1
D 65843 Sulzbach
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 09.04.2003
Local court
61462 Königstein
HRB 5992
Shareholder:
KEP Europe GmbH
Rheingaustr. 190-196
D 65203 Wiesbaden
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 06.08.2003
Local court
65189 Wiesbaden
HRB 20668
FINANCIAL INFORMATION
Payment
experience: No Complaints
Negative
information:We have no negative information at hand.
REAL ESTATE
Type
of ownership: Tenant
Address Am Unisys Park 1
D 65843 Sulzbach
Land
register documents were not available.
BANKERS
Principal
banks
COMMERZBANK,
60005 FRANKFURT AM MAIN
Sort.
code: 50040000
BIC:
COBADEFFXXX
DEUTSCHE
BANK FILIALE, 60254 FRANKFURT AM MAIN
Sort.
code: 50070010
BIC:
DEUTDEFFXXX
COMMERZBANK
VORMALS DRESDNER BANK, 60613 FRANKFURT AM MAIN
Sort.
code: 50080000
BIC:
DRESDEFFXXX
FINANCIAL FIGURES
Turnover: 2016 EUR 1,496,966,853.00
Profit: 2016 EUR 257,642,352.00
Equipment: EUR 504.00
Ac/ts
receivable:
EUR 470,363,957.00
Liabilities: EUR 488,371,809.00
Real
estate of the firm:
EUR 1,327,709.00
Employees:
64
Control
and profit transfer agreement to:
Celanese Services Germany
GmbH
Am Unisys Park 1
D 65843 Sulzbach
BALANCE SHEETS
Balance
sheet ratios 01.01.2016 - 31.12.2016
Equity
ratio [%]: 78.84
Liquidity
ratio: 0.98
Return
on total capital [%]: 17.98
Balance
sheet ratios 01.01.2015 - 31.12.2015
Equity
ratio [%]: 80.04
Liquidity
ratio: 1.25
Return
on total capital [%]: 15.02
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity
ratio [%]: 62.74
Liquidity
ratio: 2.90
Return
on total capital [%]: 22.84
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity
ratio [%]: 66.72
Liquidity
ratio: 3.10
Return
on total capital [%]: 26.47
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 1,679,293,563.86
Fixed assets EUR 1,205,990,141.83
Intangible assets EUR 136,153.00
Concessions, licences, rights EUR 136,153.00
Tangible assets EUR 10,256,299.00
Land / similar rights EUR 1,081,297.00
Plant / machinery EUR 9,174,498.00
Other tangible assets / fixtures and
fittings EUR 504.00
Financial assets EUR 1,195,597,689.83
Shares in participations /
subsidiaries and the like EUR 1,195,597,689.83
Shares in related companies EUR 1,162,848,859.22
Shares in investee companies EUR 32,748,830.61
Current assets EUR 472,537,984.60
Accounts receivable EUR 470,363,956.84
thereof total due from shareholders EUR
246,106,786.36
Trade debtors EUR 183,099,940.36
Amounts due from related companies EUR
275,772,207.69
Amounts due from investee companies EUR 56,169.39
Other debtors and assets EUR 11,435,639.40
Liquid means EUR 2,174,027.76
Remaining other assets EUR 765,437.43
Accruals (assets) EUR 765,437.43
LIABILITIES EUR 1,679,293,563.86
Shareholders' equity EUR 1,117,665,420.21
Capital EUR 7,473,326.00
Subscribed capital (share capital) EUR
7,473,326.00
Reserves
EUR 1,110,192,094.21
Capital reserves EUR 1,110,192,094.21
Provisions EUR 73,256,334.98
Pension provisions and comparable
provisions EUR
43,589,284.00
Provisions for taxes EUR 1,286,659.75
Other / unspecified provisions EUR 28,380,391.23
Liabilities EUR 488,371,808.67
thereof total due to shareholders EUR
258,351,307.53
Other liabilities EUR 488,371,808.67
Trade creditors (for IAS incl. bills
of exchange) EUR 10,586,227.73
Liabililties due to related
companiesEUR 460,506,889.47
Unspecified other liabilities EUR 17,278,691.47
thereof liabilities from tax /
financial authorities EUR 2,004,478.32
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 1,496,966,853.20
Other operating income EUR 50,121,326.67
Cost of materials EUR 1,401,646,793.17
Raw materials and supplies, purchased
goods
EUR 1,381,397,855.43
Purchased services EUR 20,248,937.74
Gross result (+/-) EUR 145,441,386.70
Staff expenses EUR 13,747,728.14
Wages and salaries EUR 8,469,683.75
Social security contributions and
expenses for pension plans and
benefits EUR 5,278,044.39
Total depreciation EUR 1,414,110.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,414,110.00
Other operating expenses EUR 94,827,216.42
Operating result from continuing
operations EUR 35,452,332.14
Result from participating interests
(+/-) EUR 234,674,586.77
Expenses / income from participations
EUR 234,674,586.77
Income from related companies EUR 234,674,586.77
Interest result (+/-) EUR -14,089,864.78
Interest and similar income EUR 1,591,367.64
thereof from related companies EUR 1,532,413.51
Interest and similar expenses EUR 15,681,232.42
thereof paid to related companies EUR
7,100,718.09
Financial result (+/-) EUR 220,584,721.99
Result from ordinary operations (+/-) EUR
256,037,054.13
Expenses for transfer of profits to a
parent company EUR 257,642,351.53
Income tax / refund of income tax
(+/-)EUR 1,773,573.53
Other taxes / refund of taxes EUR -168,276.13
Tax (+/-) EUR 1,605,297.40
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 1,699,265,877.63
Fixed assets EUR 1,209,691,398.81
Intangible assets EUR 181,538.00
Concessions, licences, rights EUR 181,538.00
Tangible assets EUR 11,625,269.00
Land / similar rights EUR 1,327,709.00
Plant / machinery EUR 10,293,209.00
Other tangible assets / fixtures and
fittings EUR 4,351.00
Financial assets EUR 1,197,884,591.81
Shares in participations /
subsidiaries and the like EUR 1,197,884,591.81
Shares in related companies EUR 1,165,135,761.20
Shares in investee companies EUR 32,748,830.61
Current assets EUR 488,283,827.10
Accounts receivable EUR 484,875,541.61
Trade debtors EUR 176,295,516.75
Amounts due from related companies EUR
290,534,712.24
Amounts due from investee companies EUR 67,000.00
Other debtors and assets EUR 17,978,312.62
Liquid means EUR 3,408,285.49
Remaining other assets EUR 1,290,651.72
Accruals (assets) EUR 1,290,651.72
LIABILITIES EUR 1,699,265,877.63
Shareholders' equity EUR 1,117,665,420.21
Capital EUR 7,473,326.00
Subscribed capital (share capital) EUR
7,473,326.00
Reserves EUR 1,110,192,094.21
Capital reserves EUR 1,110,192,094.21
Provisions EUR 74,764,340.02
Pension provisions and comparable
provisions EUR 41,178,500.00
Provisions for taxes EUR 6,120,820.77
Other / unspecified provisions EUR 27,465,019.25
Liabilities EUR 506,836,117.40
thereof total due to shareholders EUR
284,450,914.74
Other liabilities EUR 506,836,117.40
Trade creditors (for IAS incl. bills
of exchange) EUR 15,227,194.23
Liabililties due to related
companiesEUR 475,227,946.86
Liabilities due to investee
companiesEUR 21,643.42
Unspecified other liabilities EUR 16,359,332.89
thereof liabilities from tax /
financial authorities EUR 336,134.55
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 1,844,604,065.32
Other operating income EUR 216,794,328.83
Cost of materials EUR 1,654,259,326.80
Raw materials and supplies, purchased
goods EUR 1,654,043,478.90
Purchased services EUR 215,847.90
Gross result (+/-) EUR 407,139,067.35
Staff expenses EUR 16,649,409.59
Wages and salaries EUR 19,308,746.84
Social security contributions and
expenses for pension plans and
benefits EUR -2,659,337.25
Total depreciation EUR 1,722,970.16
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 1,722,970.16
Other operating expenses EUR 180,976,701.17
Operating result from continuing
operations EUR 207,789,986.43
Result from participating interests
(+/-) EUR 24,860,917.87
Expenses / income from participations
EUR 24,860,917.87
Income from transfer of profits EUR 10,032,124.14
Income from related companies EUR 14,828,793.73
Interest result (+/-) EUR -13,716,089.77
Interest and similar income EUR 2,282,288.67
thereof from related companies EUR 2,095,934.91
Interest and similar expenses EUR 15,998,378.44
thereof paid to related companies EUR
5,285,791.17
Financial result (+/-) EUR
11,144,828.10
Result from ordinary operations (+/-) EUR
218,934,814.53
Expenses for transfer of profits to a
parent company EUR 223,604,714.21
Income tax / refund of income tax
(+/-)EUR 5,003,585.40
Other taxes / refund of taxes EUR -333,685.72
Tax (+/-) EUR 4,669,899.68
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.22 |
|
|
1 |
INR 90.87 |
|
Euro |
1 |
INR 80.87 |
|
Euro |
1 |
INR 80.42 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DNS |
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.