MIRA
INFORM REPORT
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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
NINO VERTRIEBS GMBH |
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Registered Office : |
Bentheimer
Strasse 118b Nordhorn, 48529 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.06.1996 |
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Reg. No.: |
130791 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in wholesale of yarn |
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No. of Employees : |
19 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 290,300 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
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 |
Company Name and Address
NINO
VERTRIEBS GMBH
Bentheimer
Strasse 118b
Nordhorn,
48529
Germany
Tel: +49 (0) 5921 80370
Fax: +49 (0) 5921 803719
Website: www.nino-vertrieb.de
Employees: 19
Company
Type: Private Independent
Incorporation
Date: 16-Jun-1996
Financials
in: USD
(In Miollions)
Fiscal Year
End: 31-Dec-2011
Reporting
Currency: Euro
Annual
Sales: NA
Total
Assets: 6.1
Business Description
NINO
Vertriebs GmbH is primarily engaged in wholesale of yarn; wholesale of fabrics;
wholesale of household linen, etc.; and wholesale of haberdashery: needles,
sewing thread, etc.
Industry
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Industry |
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ANZSIC
2006: |
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NACE
2002: |
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NAICS
2002: |
424310 -
Piece Goods, Notions, and Other Dry Goods Merchant Wholesalers |
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UK SIC
2003: |
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UK SIC
2007: |
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US SIC
1987: |
Key Executives
|
Name |
Title |
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Hans-Gerd
Aldekamp |
Managing
director |
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Arnold
Voet |
Managing
director |
Registered
No.(DEU): 130791
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
Corporate Overview
Location
Bentheimer Strasse 118b
Nordhorn, 48529
Germany
Tel: +49 (0) 5921
80370
Fax: +49 (0) 5921
803719
Website: www.nino-vertrieb.de
Sales
EUR(mil): NA
Assets
EUR(mil): 4.7
Employees: 19
Fiscal Year
End: 31-Dec-2011
Industry: Apparel and Accessories
Incorporation
Date: 16-Jun-1996
Company
Type: Private Independent
Quoted
Status: Not Quoted
Registered
No.(DEU): 130791
Managing
director: Arnold Voet
Industry
Codes
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ANZSIC
2006 Codes: |
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3711 |
- |
Textile
Product Wholesaling |
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NACE 2002
Codes: |
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5141 |
- |
Wholesale
of textiles |
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NAICS
2002 Codes: |
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424310 |
- |
Piece
Goods, Notions, and Other Dry Goods Merchant Wholesalers |
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US SIC
1987: |
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5199 |
- |
Nondurable
Goods, Not Elsewhere Classified |
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UK SIC
2003: |
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5141 |
- |
Wholesale
of textiles |
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UK SIC
2007: |
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4641 |
- |
Wholesale
of textiles |
Business Description
NINO
Vertriebs GmbH is primarily engaged in wholesale of yarn; wholesale of fabrics;
wholesale of household linen, etc.; and wholesale of haberdashery: needles,
sewing thread, etc.
More
Business Descriptions
Broadwoven
Fabric Mills
Financial
Data
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Financials in: |
EUR(mil) |
1 Year Growth |
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Assets: |
4.7 |
NA |
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Current Assets: |
4.3 |
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Total Liabilities: |
4.7 |
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Issued Capital: |
3.0 |
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Net Worth: |
3.5 |
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Date of Financial Data: |
31-Dec-2011 |
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Key Corporate Relationships
Bank: Volksbank Bocholt
Executives
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Managing
director |
Managing
Director |
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Managing
director |
Managing
Director |
Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Provisions |
0.4 |
0.2 |
0.3 |
Annual Balance Sheet
Financials
in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
3.9 |
4.0 |
4.3 |
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Profits for the year |
0.6 |
0.1 |
-0.2 |
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Profit brought forward from previous year(s) |
0.0 |
-0.2 |
0.1 |
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Total stockholders equity |
4.5 |
4.1 |
4.1 |
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Other provisions |
- |
- |
0.3 |
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Provisions and allowances |
0.4 |
0.2 |
0.3 |
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Taxes and social security |
- |
- |
0.0 |
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Total long-term liabilities |
- |
- |
0.0 |
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Trade creditors |
- |
- |
0.3 |
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Other loans |
- |
- |
0.0 |
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Taxation and social security |
- |
- |
0.0 |
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Total current liabilities |
1.3 |
0.9 |
0.3 |
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Total liabilities (including net worth) |
6.1 |
5.2 |
4.7 |
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Patents |
- |
- |
0.4 |
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Intangibles |
0.3 |
0.4 |
0.4 |
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Machinery and tools |
- |
- |
0.0 |
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Total tangible fixed assets |
0.1 |
0.1 |
0.2 |
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Total financial assets |
0.0 |
0.1 |
- |
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Total non-current assets |
0.5 |
0.6 |
0.5 |
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Raw materials |
- |
- |
0.5 |
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Finished goods |
- |
- |
1.3 |
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Net stocks and work in progress |
2.7 |
1.7 |
1.8 |
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Trade debtors |
- |
- |
2.1 |
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Other receivables |
- |
- |
0.2 |
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Total receivables |
2.9 |
2.9 |
2.3 |
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Cash and liquid assets |
0.0 |
0.0 |
0.0 |
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Total current assets |
5.6 |
4.6 |
4.1 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
6.1 |
5.2 |
4.7 |
Annual Ratios
Financials
in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
43.30 |
50.01 |
132.92 |
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Acid test ratio |
22.46 |
31.26 |
73.55 |
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Total liabilities to net worth |
0.03% |
0.02% |
0.01% |
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Net worth to total assets |
0.07% |
0.08% |
0.09% |
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Current liabilities to net worth |
0.03% |
0.02% |
0.01% |
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Current liabilities to stock |
0.05% |
0.05% |
0.02% |
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Fixed assets to net worth |
0.01% |
0.01% |
0.01% |
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Net worth |
4.5 |
4.1 |
4.1 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.20 |
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|
1 |
Rs.86.99 |
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Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.