MIRA INFORM REPORT
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Report Date : |
12.12.2012 |
IDENTIFICATION DETAILS
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Name : |
KARTONIMEX-INTERCELL GMBH |
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Registered Office : |
Haroldstrasse 24
Düsseldorf, 40213 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
16.12.1975 |
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Reg. No.: |
5494 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in wholesale of furniture |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
KARTONIMEX-INTERCELL GMBH
Haroldstrasse 24
Düsseldorf, 40213
Germany
Tel: +49 (0) 211 865400
Fax: +49
(0) 211 133117
Website: www.kartonimex-intercell.de
Employees: 10
Company Type: Private
Independent
Incorporation Date: 16-Dec-1975
Financials in: USD (In Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 8.5
Business
Description
Kartonimex-Intercell GmbH is primarily engaged in wholesale
of furniture; wholesale of jewellery; wholesale of musical instruments;
wholesale of photographic goods; wholesale of toys and games; wholesale of
travel and fancy goods; and wholesale of other household goods not elsewhere
classified.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key
Executives
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Name |
Title |
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Helmut Hafemann |
Managing director |
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Christina Broser |
Leiterin-Verkauf & Einkauf |
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Katja Bredemeier |
Leiterin-Verkauf International |
Registered No.(DEU): 5494
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7454064
Location
Haroldstrasse 24
Düsseldorf, 40213
Germany
Tel: +49
(0) 211 865400
Fax: +49
(0) 211 133117
Website: www.kartonimex-intercell.de
Sales EUR(mil): NA
Assets EUR(mil): 6.3
Employees: 10
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Capital Goods
Incorporation Date: 16-Dec-1975
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(DEU): 5494
Managing director: Helmut Hafemann
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ANZSIC 2006 Codes: |
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3739 |
- |
Other Goods Wholesaling Not Elsewhere Classified |
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3322 |
- |
Metal and Mineral Wholesaling |
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NACE 2002 Codes: |
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5147 |
- |
Wholesale of other household goods |
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5157 |
- |
Wholesale of waste and scrap |
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NAICS 2002 Codes: |
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4232 |
- |
Furniture and Home Furnishing Merchant Wholesalers |
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423930 |
- |
Recyclable Material Merchant Wholesalers |
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US SIC 1987: |
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5111 |
- |
Printing and Writing Paper |
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5093 |
- |
Scrap and Waste Materials |
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UK SIC 2003: |
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5147 |
- |
Wholesale of other household goods |
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5157 |
- |
Wholesale of waste and scrap |
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UK SIC 2007: |
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4649 |
- |
Wholesale of other household goods |
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4677 |
- |
Wholesale of waste and scrap |
Kartonimex-Intercell GmbH
is primarily engaged in wholesale of furniture; wholesale of jewellery;
wholesale of musical instruments; wholesale of photographic goods; wholesale of
toys and games; wholesale of travel and fancy goods; and wholesale of other
household goods not elsewhere classified.
More
Business Descriptions
Industrial Supplies
Merchant Wholesalers
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Financials in: |
EUR(mil) |
1 Year Growth |
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Assets: |
6.3 |
NA |
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Current Assets: |
6.0 |
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Total Liabilities: |
6.3 |
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Issued Capital: |
2.0 |
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Net Worth: |
2.1 |
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Date of Financial Data: |
31-Dec-2010 |
Bank:Commerzbank vormals Dresdner Bank, National-Bank Düsseldorf, Deutsche Bank
Executives
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Managing
director |
Managing
Director |
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Leiterin-Verkauf
International |
Sales Executive |
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Leiterin-Verkauf
& Einkauf |
Sales Executive |
Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Provisions |
0.1 |
0.4 |
0.6 |
Annual Balance Sheet
Financials in: USD (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
2.7 |
2.9 |
2.8 |
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Capital reserves |
- |
- |
0.1 |
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Profits for the year |
0.1 |
0.0 |
-0.1 |
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Profit brought forward from previous year(s) |
- |
0.0 |
-0.3 |
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Total stockholders equity |
2.8 |
2.9 |
2.8 |
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Provisions and allowances |
0.2 |
0.4 |
0.6 |
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Total current liabilities |
5.6 |
1.2 |
2.5 |
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Total liabilities (including net worth) |
8.5 |
4.6 |
5.8 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.4 |
0.4 |
0.4 |
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Total non-current assets |
0.4 |
0.4 |
0.4 |
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Net stocks and work in progress |
0.3 |
0.1 |
0.5 |
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Total receivables |
5.8 |
2.1 |
3.8 |
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Cash and liquid assets |
2.0 |
1.9 |
1.1 |
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Total current assets |
8.1 |
4.2 |
5.4 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
8.5 |
4.6 |
5.8 |
Annual Ratios
Financials in: USD (mil)
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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 |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
14.52 |
33.75 |
22.10 |
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Acid test ratio |
14.00 |
32.97 |
20.12 |
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Total liabilities to net worth |
0.20% |
0.04% |
0.09% |
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Net worth to total assets |
0.03% |
0.06% |
0.05% |
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Current liabilities to net worth |
0.20% |
0.04% |
0.09% |
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Current liabilities to stock |
1.95% |
1.28% |
0.51% |
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Fixed assets to net worth |
0.01% |
0.01% |
0.01% |
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Net worth |
2.8 |
2.9 |
2.8 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.32 |
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|
1 |
Rs.87.36 |
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Euro |
1 |
Rs.70.36 |
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 |
|
<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.