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Report Date : |
03.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SAACKE SERVICE GMBH |
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Registered Office : |
Südweststr. 13, D 28237 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
02.03.2001 |
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Legal Form : |
Private limited company |
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Line of Business : |
Other business support service
activities n. e. c. |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 declining 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 in 2006 and 2007 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 - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. 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. 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 hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
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Source : CIA |
SAACKE SERVICE GMBH
Company Status: active
Südweststr. 13
D 28237 Bremen
Telephone:0421/6495-0
Telefax:
0421/6495-5224
Homepage: www.saacke.de
E-mail: info@saacke.de
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 02.03.2001
Shareholders'
agreement: 02.03.2001
Registered on: 29.05.2001
Commercial Register: Local court 28195 Bremen
under: HRB
20158 HB
Share capital: EUR 200,000.00
Shareholder:
SAACKE GmbH
Südweststr. 13
D 28237 Bremen
Legal form:
Private limited company
Share capital: EUR 8,000,000.00
Share: EUR 200,000.00
Registered on: 06.06.2006
Reg. data: 28195 Bremen, HRB 23625 HB
Control and profit
transfer agreement
Manager:
Frank-Uwe Schulz
D 25469 Halstenbek
having sole power of
representation
born: 03.07.1960
Marital status: unknown
Manager:
Rainer Gleissberg
Dobben 6
D 27711
Osterholz-Scharmbeck
having sole power of representation
born: 04.03.1961
Further functions/participations of Frank-Uwe
Schulz (Manager)
Manager:
SAACKE GmbH
Südweststr. 13
D 28237 Bremen
Legal form: Private
limited company
Share capital: EUR 8,000,000.00
Registered
on: 06.06.2006
Reg. data: 28195 Bremen, HRB 23625 HB
12.01.2007 - 14.01.2010 Manager
Uwe Eckert
D 28832 Achim
Main
industrial sector
82999
Other business support service activities n. e. c.
Branch:
SAACKE Service GmbH
Fahrenheitstr. 3
D 14532 Kleinmachnow
TEL.: 033203-80396
Branch:
SAACKE Service GmbH
Dieselstr. 9
D 89160 Dornstadt
TEL.: 07348/98730
FAX.: 07348/987349
Branch:
SAACKE Service GmbH
Am Tönisberg 3
D 40699 Erkrath
TEL.: 0211/9296680
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Südweststr.
13
D 28237 Bremen
Land register documents were not available.
DEUTSCHE BANK, BREMEN
Sort. code: 29070050, BIC: DEUTDEHBXXX
COMMERZBANK VORMALS BREMER BANK (DRESDNER
BANK), BREMEN
Sort. code: 29080010, BIC: DRESDEFF290
BANKHAUS NEELMEYER, BREMEN
Sort. code: 29020000, BIC: NEELDE22XXX
Gross profit or loss:2010 EUR 16,368,368.00
2011 EUR 16,000,000.00
Profit: 2010 EUR 1,507,091.00
further business figures:
Equipment: EUR 840,000.00
Ac/ts receivable: EUR 4,912,981.00
Liabilities: EUR 2,041,099.00
Employees:
120
-
thereof permanent staff: 120
Control and profit transfer agreement to:
SAACKE GmbH
Südweststr. 13
D 28237 Bremen
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 19.22
Liquidity ratio: 10.00
Return on total capital [%]: 22.77
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 17.46
Liquidity ratio: 10.00
Return on total capital [%]: 23.74
Balance sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 2.75
Liquidity ratio: 2.51
Return on total capital [%]: 33.24
Balance sheet ratios 01.01.2007 - 31.12.2007
Equity ratio [%]: 2.89
Liquidity ratio: 2.96
Return
on total capital [%]: 37.70
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
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 6,902,229.08
Fixed assets
EUR 256,373.14
Intangible assets
EUR 3,042.00
Tangible assets
EUR 229,657.00
Financial assets
EUR 23,674.14
Current assets
EUR 6,642,947.14
Stocks
EUR 369,722.43
Accounts receivable
EUR 4,912,981.30
Liquid means
EUR 1,360,243.41
Remaining other assets
EUR 2,908.80
Accruals (assets)
EUR 2,908.80
LIABILITIES EUR 6,902,229.08
Shareholders' equity
EUR 200,000.00
Capital
EUR 200,000.00
Subscribed capital (share capital)
EUR 200,000.00
Provisions
EUR 4,661,130.00
Liabilities
EUR 2,041,099.08
thereof total due to shareholders
EUR 1,128,181.70
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 16,368,368.00
Staff expenses
EUR 9,096,081.85
Wages and salaries
EUR 7,425,236.70
Social security contributions and
expenses for pension plans and
benefits
EUR 1,670,845.15
Total depreciation
EUR 98,951.83
Depreciation on tangible / intangible
asssets
(incl. start-up and exp. of
bus.
EUR 98,951.83
Other operating expenses
EUR 5,077,717.80
Operating result from continuing
operations
EUR 2,095,616.52
Interest result (+/-)
EUR -235,263.84
Interest and similar income
EUR 766.83
Interest and similar expenses
EUR 236,030.67
Financial result (+/-)
EUR -235,263.84
Result from ordinary operations (+/-)
EUR 1,860,352.68
Extraordinary expenses
EUR 64,209.31
Extraordinary result (+/-)
EUR -64,209.31
Expenses for transfer of profits to a
parent company
EUR 1,507,091.22
Income tax / refund of income tax (+/-)EUR -289,000.00
Other taxes / refund of taxes
EUR -52.15
Tax (+/-)
EUR -289,052.15
Annual surplus / annual deficit
EUR 0.00
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2009 - 31.12.2009
ASSETS EUR 6,176,134.43
Fixed assets
EUR 223,767.18
Intangible assets
EUR 6,015.00
Tangible assets
EUR 197,779.00
Financial assets
EUR 19,973.18
Current assets
EUR 5,949,155.94
Stocks
EUR 442,302.93
Accounts receivable
EUR 4,923,322.13
Liquid means EUR 583,530.88
Remaining other assets
EUR 3,211.31
Accruals (assets)
EUR 3,211.31
LIABILITIES EUR 6,176,134.43
Shareholders'
equity EUR 200,000.00
Capital
EUR 200,000.00
Subscribed capital (share capital)
EUR 200,000.00
Provisions
EUR 4,219,154.18
Liabilities
EUR 1,756,980.25
thereof total due to shareholders
EUR 881,042.94
Guarantees and other commitments
EUR 5,000,000.00
Guarantees / warranties
EUR 5,000,000.00
Guarantees
EUR 5,000,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 16,264,175.41
Staff expenses EUR 9,081,328.67
Wages and salaries
EUR 7,274,225.65
Social security contributions and
expenses for pension plans and
benefits
EUR 1,807,103.02
Total depreciation
EUR 97,551.13
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 97,551.13
Other operating expenses
EUR 5,354,965.67
Operating result from continuing
operations
EUR 1,730,329.94
Interest result (+/-)
EUR -14,634.63
Interest and similar income
EUR 3,748.88
Interest and similar expenses
EUR 18,383.51
thereof paid to related companies
EUR 0.00
Financial result (+/-)
EUR -14,634.63
Result from ordinary operations (+/-)
EUR 1,715,695.31
Expenses for transfer of profits to a
parent company
EUR 1,465,435.85
Income tax / refund of income tax (+/-)EUR -250,000.00
Other taxes / refund of taxes
EUR -259.46
Tax
(+/-)
EUR -250,259.46
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.52 |
|
|
1 |
Rs.87.48 |
|
Euro |
1 |
Rs.70.89 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.