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Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
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Name : |
THERMAL SYSTEMS GMBH |
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Registered Office : |
Ludwig-Erhard-Str. 8 D 34131 Kassel |
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Country : |
Germany |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
11.08.2004 |
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Reg. No.: |
HRB 13556 |
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Legal Form : |
Private limited company |
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|
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Line of Business : |
Wholesale of iron ores, iron, steel and iron and steel semi-finished goods |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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.
|
Source : CIA |
THERMAL SYSTEMS GMBH
Company Status: active
Ludwig-Erhard-Str. 8
D 34131 Kassel
Telephone:0561/59819710
Telefax: kein Eintrag
Homepage: www.fortuna-boiler.de
E-mail: contact@fortuna-boiler.de
VAT no.: DE238335521
Tax ID number: 026 246 15509
LEGAL FORM Private limited company
Date of foundation: 11.08.2004
Shareholders'
agreement: 11.08.2004
Registered on: 21.10.2004
Commercial Register: Local court 34117 Kassel
under: HRB 13556
Share capital: EUR 25,000.00
Shareholder:
Matthias Brandau
D 34292 Ahnatal
born: 03.10.1965
Share: EUR 25,000.00
Manager:
Matthias Brandau
D 34292 Ahnatal
having sole power of representation
born: 03.10.1965
21.10.2004 - 07.04.2011 Fortuna Boiler Engineers GmbH
Ludwig-Erhard-Str. 8
D 34131 Kassel
Private limited company
Main industrial sector
46721 Wholesale of iron ores, iron, steel and iron and steel semi-finished goods
71122 Engineering activities in the field of technical sectoral planning andengineering design
The Solvency Rating[NG] and the balance sheet grade are generated on the basis of the calculation methodology of Euler Hermes.
Payment experience: within periods customary in this trade
Negative information:We have no negative information at hand.
Balance sheet year: 2010/2011
Type of ownership: Tenant
Address Ludwig-Erhard-Str. 8
D 34131 Kassel
Land register documents were not available.
KASSELER SPARKASSE, KASSEL, HESS
Sort. code: 52050353, BIC: HELADEF1KAS
Ac/ts receivable: EUR 4,090.00
Liabilities: EUR 10,574.00
The number of employees is not known.
The aforementioned business figures may partly be estimated information based on average values in the line of business.
Balance sheet ratios 01.04.2010 - 31.03.2011
Equity ratio [%]: 64.41
Liquidity ratio: 10.00
Return on total capital [%]: 15.34
Balance sheet ratios 01.04.2009 - 31.03.2010
Equity ratio [%]: 70.70
Liquidity ratio: 10.00
Return on total capital [%]: -198.36
Balance sheet ratios 01.04.2008 - 31.03.2009
Equity ratio [%]: 76.00
Liquidity ratio: 10.00
Balance sheet ratios 01.04.2007 - 31.03.2008
Equity ratio [%]: 65.81
Liquidity ratio: 10.00
Return on total capital [%]: 37.01
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: 01.04.2010 - 31.03.2011
ASSETS EUR 76,249.23
Fixed assets EUR 11,799.00
Intangible assets EUR 7,013.00
Other / unspecified intangible
assetsEUR 7,013.00
Tangible assets EUR 4,786.00
Other / unspecified tangible assets EUR 4,786.00
Current assets EUR 52,013.67
Accounts receivable EUR 4,090.19
Other debtors and assets EUR 4,090.19
Liquid means EUR 47,923.48
Remaining other assets EUR 12,436.56
Accruals (assets) EUR 12,436.56
LIABILITIES EUR 76,249.23
Shareholders' equity EUR 50,676.15
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Balance sheet profit/loss (+/-) EUR 25,676.15
Profit / loss brought forward EUR 14,656.30
Annual
surplus / annual deficit EUR 11,019.85
Provisions EUR 14,999.00
Liabilities EUR 10,574.08
Other liabilities EUR 10,574.08
Unspecified other liabilities EUR 10,574.08
Type of balance
sheet: Company balance sheet
Financial year: 01.04.2009 - 31.03.2010
ASSETS EUR 54,745.29
Fixed assets EUR 11,152.00
Intangible assets EUR 5,988.00
Tangible assets EUR 5,164.00
Current assets EUR 42,425.29
Accounts receivable EUR 4,445.06
Liquid means EUR 37,980.23
Remaining other assets EUR 1,168.00
Accruals (assets) EUR 1,168.00
LIABILITIES EUR 54,745.29
Shareholders' equity EUR 39,656.30
Capital EUR 25,000.00
Subscribed capital (share capital) EUR
25,000.00
Balance sheet profit/loss (+/-) EUR 14,656.30
Profit / loss brought forward EUR 116,800.72
Annual surplus / annual deficit EUR -102,144.42
Provisions EUR 3,927.21
Liabilities EUR 11,161.78
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.85 |
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.