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MIRA
INFORM REPORT
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Report No. : |
509233 |
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Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
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Name : |
EGESUN GMBH |
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Registered Office : |
An der Autobahn 44 D 28876
Oyten |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
26.06.2000 |
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Com. Reg. No.: |
HRB 122635 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Wholesale of other
intermediate goods |
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No. of Employees : |
71 |
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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Maximum Credit Limit : |
295,000 EUR |
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Status : |
Satisfactory |
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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
EgeSun GmbH
Company Status: active
An der Autobahn 44
D 28876 Oyten
Telephone:04207/688460
Telefax: 04207/688461
Homepage: www.morgenland.bio
E-mail: info@egesun.de
VAT no.
DE813066424
CONCLUSION
Business relations are permissible.
Company
summery
LEGAL FORM Private
limited company
Date of foundation: 26.06.2000
Shareholders'
agreement: 26.06.2000
Registered on: 22.11.2005
Commercial Register: Local court 29664 Walsrode
under: HRB
122635
Share capital: EUR 2,000,000.00
Shareholder:
Orhan Yilmaz
Emmastr. 76
D 28213 Bremen
born: 05.09.1959
Share: EUR 1,400,000.00
Shareholder:
Monique Schikker
Konsul-Smidt-Str. 8q
D 28217 Bremen
born: 13.12.1965
Share: EUR 600,000.00
Manager:
Orhan Yilmaz
Emmastr. 76
D 28213 Bremen
born: 05.09.1959
Proxy:
Peter Hübner
Handelsweg 90
D 28857 Syke
authorized to jointly
represent the company
born: 13.06.1966
Marital status: unknown
Proxy:
Monique Schikker
Konsul-Smidt-Str. 8q
D 28217 Bremen
authorized to jointly
represent the company
born: 13.12.1965
Marital status: married
Further functions/participations of Orhan Yilmaz
(Manager)
Shareholder:
TWIN GmbH
An der Autobahn 28
D 28876 Oyten
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 19.05.2008
Reg. data: 29664 Walsrode, HRB 201166
Manager:
AK Verwaltungs- und
Handelsgesellschaft mbH
An der Autobahn 44
D 28876 Oyten
Legal form: Private
limited company
Share capital: EUR 1,000,000.00
Registered
on: 30.06.2005
Reg. data: 29664 Walsrode, HRB 122540
Manager:
TWIN GmbH
An der Autobahn 28
D 28876 Oyten
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 19.05.2008
Reg. data: 29664 Walsrode, HRB 201166
COMPANY HISTORY
company name and legal form
16.01.2001 - 22.11.2005 EgeSun GmbH
Ludwig-Erhard-Str. 34
D 28197 Bremen
Private limited
company
07.08.2000 - 16.01.2001 Mavideniz GmbH
Kornstr. 324
D 28201 Bremen
Private limited
company
BUSINESS
ACTIVITIES
Main industrial sector
46389 Wholesale of food n.e.c.
46760 Wholesale of other intermediate goods
FINANCIAL
INFORMATION
Payment experience: No Complaints
Negative information: We have no negative information at hand.
Maximum credit: 295,000
EUR
The maximum credit is our
recommendation for
the maximum credit limit
for the inquired
company.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: unknown
Address An
der Autobahn 44
D 28876 Oyten
Land register documents were not available.
BANKERS
COMMERZBANK, 28079 BREMEN
Sort. code: 29040090
BIC: COBADEFFXXX
VR BANK HOF, 95028 HOF
Sort. code: 78060896
BIC: GENODEF1HO1
FINANCIAL
FIGURES
Gross profit or
loss:2016 EUR 9,286,551.00
Profit: 2016 EUR 1,199,486.00
Equipment: EUR 297,171.00
Ac/ts receivable: EUR 5,484,098.00
Liabilities: EUR 14,468,080.00
Real estate of the
firm: EUR 518,541.00
Employees:
71
- thereof permanent
staff:
67
BALANCE SHEETS
Balance sheet ratios
01.01.2016 - 31.12.2016
Equity ratio [%]: 12.55
Liquidity ratio: 0.35
Return on total capital
[%]: 6.75
Balance sheet ratios
01.01.2015 - 31.12.2015
Equity ratio [%]: 5.15
Liquidity ratio: 0.26
Return on total capital
[%]: 1.62
Balance sheet ratios
01.01.2014 - 31.12.2014
Equity ratio [%]: 9.98
Liquidity ratio: 0.37
Return on total capital
[%]: 2.68
Balance sheet ratios
01.01.2013 - 31.12.2013
Equity ratio [%]: 15.06
Liquidity ratio: 0.43
Return on total capital
[%]: 2.35
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 18,145,187.08
Fixed assets EUR 1,804,492.16
Intangible assets EUR 11,458.00
Concessions, licences,
rights EUR 11,458.00
Tangible assets EUR 1,792,884.16
Land / similar
rights EUR 961,345.16
Plant / machinery EUR 534,368.00
Other tangible assets /
fixtures and
fittings EUR 297,171.00
Financial assets EUR 150.00
Shares in participations
/
subsidiaries and the
like EUR 150.00
Shares in
cooperatives EUR 150.00
Current assets EUR 16,296,330.42
Stocks EUR 10,789,980.49
Other / unspecified
stocks EUR 10,789,980.49
Accounts receivable EUR 5,484,098.23
Amounts due from
shareholders EUR 374,208.40
Other debtors and
assets EUR 5,109,889.83
Liquid means EUR 22,251.70
Remaining other
assets EUR 44,364.50
Accruals (assets) EUR 44,364.50
thereof disagio EUR 12,804.65
LIABILITIES EUR 18,145,187.08
Shareholders' equity EUR 2,604,679.11
Capital EUR 1,100,000.00
Subscribed capital
(share capital) EUR 1,100,000.00
Reserves EUR 1,340,000.00
Capital reserves EUR 440,000.00
Retained earnings /
revenue reserves EUR
900,000.00
Balance sheet profit/loss
(+/-) EUR 164,679.11
Profit / loss brought
forward EUR -134,806.44
Annual surplus / annual
deficit EUR 1,199,485.55
Transfer to reserve EUR -900,000.00
Provisions EUR 1,072,427.96
Other / unspecified
provisions EUR 1,072,427.96
Liabilities EUR 14,468,080.01
Financial debts EUR 5,976,670.37
Liabilities due to
banks EUR 4,708,214.59
Credits / loans from
non-banks EUR
1,268,455.78
Other liabilities EUR 8,491,409.64
Trade creditors (for IAS
incl. bills
of exchange) EUR 3,983,062.22
Liabilities due to
sleeping
partnership interest EUR 506,183.33
Unspecified other
liabilities EUR 4,002,164.09
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 9,286,550.51
Staff expenses EUR 3,165,564.61
Wages and salaries EUR 2,731,564.95
Social security
contributions and
expenses for pension
plans and
benefits EUR 433,999.66
Total depreciation EUR 164,825.95
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 164,825.95
Other operating expenses EUR 3,721,252.42
Operating result from
continuing
operations EUR 2,234,907.53
Interest result (+/-) EUR -480,434.43
Interest and similar
income EUR 10,953.02
Interest and similar
expenses EUR 491,387.45
Other financial
result EUR 3.32
Income from securities
and loans from
financial assets EUR 3.32
Financial result
(+/-) EUR -480,431.11
Result from ordinary
operations (+/-) EUR 1,754,476.42
Other extraordinary
income EUR -6,183.33
thereof compensation
payments to
minorities EUR 6,183.33
Income tax / refund of
income tax (+/-)EUR -543,349.09
Other taxes / refund of
taxes EUR -5,458.45
Tax (+/-) EUR -548,807.54
Annual surplus / annual
deficit EUR 1,199,485.55
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 17,142,077.41
Fixed assets EUR 1,380,071.71
Intangible assets EUR 17,975.00
Tangible assets EUR 1,361,946.71
Financial assets EUR 150.00
Current assets EUR 15,709,454.47
Stocks EUR 11,318,428.83
Accounts receivable EUR
4,388,473.73
Liquid means EUR 2,551.91
Remaining other
assets EUR 52,551.23
Accruals (assets) EUR 52,551.23
LIABILITIES EUR 17,142,077.41
Shareholders' equity EUR 1,105,193.56
Capital EUR 800,000.00
Subscribed capital
(share capital) EUR 800,000.00
Reserves EUR 440,000.00
Capital reserves EUR 440,000.00
Balance sheet profit/loss
(+/-) EUR -134,806.44
Balance sheet profit /
loss EUR -134,806.44
Provisions EUR 217,611.24
Liabilities EUR 15,819,272.61
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm.
Code (HGB)
Gross result (+/-) EUR 5,222,467.74
Staff expenses EUR 1,878,089.82
Wages and salaries EUR 1,610,411.94
Social security
contributions and
expenses for pension
plans and
benefits EUR 267,677.88
Total depreciation EUR 157,713.90
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 157,713.90
Other operating
expenses EUR 2,349,495.01
Operating result from
continuing
operations EUR 837,169.01
Interest result (+/-) EUR -431,734.38
Interest and similar
income EUR 6,481.86
Interest and similar
expenses EUR 438,216.24
Financial result
(+/-) EUR -431,734.38
Result from ordinary
operations (+/-) EUR 405,434.63
Extraordinary
expenses EUR 3,197.00
Extraordinary result
(+/-) EUR -3,197.00
Income tax / refund of
income tax (+/-)EUR -125,738.24
Other taxes / refund of
taxes EUR -5,080.50
Tax (+/-) EUR -130,818.74
Annual surplus / annual
deficit EUR 271,418.89
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.22 |
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1 |
INR 90.88 |
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Euro |
1 |
INR 80.09 |
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Euro |
1 |
INR 80.52 |
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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PRA |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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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 |
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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.