MIRA
INFORM REPORT
|
Report Date : |
22.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAARSTAHL-EXPORT GESELLSCHAFT MIT
BESCHRANKTER HAFTUNG |
|
|
|
|
Registered Office : |
Kasernenstrasse 1, Dusseldorf, 40213 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
03.01.2002 |
|
|
|
|
Com. Reg. No.: |
10629 |
|
|
|
|
Legal Form : |
Private Subsidiary Company |
|
|
|
|
Line of Business : |
wholesaler
of ferrous and non-ferrous metal ores |
|
|
|
|
No. of Employees : |
19 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 |
Company name & address
SAARSTAHL-EXPORT Gesellschaft mit beschrankter Haftung
Kasernenstrasse 1
Dusseldorf, 40213
Germany
Tel: +49 (0) 211 87770
Fax: +49 (0) 211 8777277
Synthesis
Employees: 19
Company Type: Private Subsidiary
Corporate Family: 25
Companies
Ultimate Parent: Montan-Stiftung-Saar
Incorporation Date:
03-Jan-2002
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 19.0
Total Assets: 15.2
Business Description
SAARSTAHL-EXPORT Gesellschaft mit beschrankter Haftung is primarily engaged in wholesale of ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous metals in primary forms; wholesale of ferrous and non-ferrous semi-finished metal products not elsewhere classified; and wholesale of gold and other precious metals.
Industry
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3322 - Metal and
Mineral Wholesaling
NACE 2002: 5152 - Wholesale
of metals and ores
NAICS 2002: 423520 - Coal and Other
Mineral and Ore Merchant Wholesalers
UK SIC 2003: 5152 - Wholesale
of metals and ores
UK SIC 2007: 4672 - Wholesale
of metals and metal ores
US SIC 1987: 5051 - Metals
Service Centers and Offices
Key Executives
Name Title
Christian Biegus Managing
director
Jean-Paul Timmerman Managing
director
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
Location
Kasernenstrasse 1
Dusseldorf, 40213
Germany
Tel: +49 (0) 211 87770
Fax: +49 (0) 211 8777277
Sales EUR(mil): 14.3
Assets EUR(mil): 11.3
Employees: 19
Fiscal Year End: 31-Dec-2010
Industry: Miscellaneous
Capital Goods
Incorporation Date: 03-Jan-2002
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(DEU): 10629
Managing director: Jean-Paul
Timmerman
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3322 - Metal and Mineral Wholesaling
NACE 2002 Codes:
5152 - Wholesale of metals and ores
NAICS 2002 Codes:
423520 - Coal and Other Mineral and Ore Merchant Wholesalers
US SIC 1987:
5051 - Metals Service Centers and Offices
UK SIC 2003:
5152 - Wholesale of metals and ores
UK SIC 2007:
4672 - Wholesale of metals and metal ores
Business
Description
SAARSTAHL-EXPORT Gesellschaft mit beschrankter Haftung is primarily engaged in wholesale of ferrous and non-ferrous metal ores; wholesale of ferrous and non-ferrous metals in primary forms; wholesale of ferrous and non-ferrous semi-finished metal products not elsewhere classified; and wholesale of gold and other precious metals.
|
|||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||
|
Corporate
Family |
Corporate Structure News: |
|
SAARSTAHL-EXPORT Gesellschaft mit beschrankter Haftung |
|
|
SAARSTAHL-EXPORT Gesellschaft
mit beschrankter Haftung |
|
|
Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Montan-Stiftung-Saar |
Parent |
|||||
|
Subsidiary |
Dillingen, Saarland |
Germany |
Business Services |
3,041.0 |
7,700 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Iron and Steel |
3,716.3 |
4,330 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Miscellaneous Fabricated Products |
488.6 |
1,210 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Construction Services |
45.6 |
400 |
|
|
Subsidiary |
Port Sur Saone |
France |
Construction - Supplies and Fixtures |
83.5 |
284 |
|
|
Subsidiary |
Koln, Nordrhein-Westfalen |
Germany |
Miscellaneous Fabricated Products |
89.7 |
220 |
|
|
Subsidiary |
Homburg, Saarland |
Germany |
Miscellaneous Capital Goods |
160.4 |
200 |
|
|
Subsidiary |
Saarbrã¼Cken |
Germany |
Iron and Steel |
36.5 |
193 |
|
|
Subsidiary |
St. Ingbert, Saarland |
Germany |
Iron and Steel |
19.0 |
107 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Construction - Supplies and Fixtures |
32.4 |
71 |
|
|
Subsidiary |
Volklingen |
Germany |
Iron and Steel |
37.5 |
70 |
|
|
Subsidiary |
Fontenay Sous Bois |
France |
Miscellaneous Capital Goods |
8.2 |
45 |
|
|
Subsidiary |
Fontenay Sous Bois |
France |
Construction - Supplies and Fixtures |
25.7 |
||
|
Subsidiary |
Volklingen, Saarland |
Germany |
Waste Management Services |
143.3 |
25 |
|
|
Subsidiary |
Dã¼Sseldorf,
Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
19.0 |
17 |
|
|
Subsidiary |
Liã¨Ge, Liege |
Belgium |
Iron and Steel |
9.7 |
10 |
|
|
Subsidiary |
Milano, Milano |
Italy |
Business Services |
1.1 |
4 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Personal and Household Products |
3 |
||
|
Subsidiary |
Volklingen, Saarland |
Germany |
Personal Services |
37.5 |
2 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Advertising |
2.4 |
2 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Investment Services |
2 |
||
|
Subsidiary |
St. Ingbert, Saarland |
Germany |
Miscellaneous Fabricated Products |
87.8 |
195 |
|
|
Subsidiary |
Volklingen, Saarland |
Germany |
Miscellaneous Fabricated Products |
25.5 |
46 |
|
|
Subsidiary |
Dillingen, Saarland |
Germany |
Commercial Banks |
Executive report
|
Executives |
|
|
|
||||
|
Managing director |
Managing Director |
||||
|
Managing director |
Managing Director |
Annual Profit & Loss
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
19.0 |
15.8 |
21.0 |
|
Raw materials and services |
11.7 |
9.8 |
16.0 |
|
Net sales |
19.0 |
15.8 |
21.0 |
|
Other operating income |
0.6 |
0.4 |
1.2 |
|
Raw materials and consumables employed |
11.7 |
9.8 |
16.0 |
|
Other external charges |
0.2 |
0.1 |
0.1 |
|
Cost of goods sold |
11.8 |
9.9 |
16.1 |
|
Cost of raw materials |
11.8 |
9.9 |
16.1 |
|
Taxes and social security costs |
0.3 |
0.6 |
0.2 |
|
Total payroll costs |
1.6 |
1.9 |
1.1 |
|
Fixed asset depreciation and amortisation |
0.0 |
0.0 |
0.1 |
|
Other operating costs |
2.4 |
3.1 |
3.1 |
|
Net operating
income |
3.7 |
1.2 |
2.0 |
|
Interest received from loans |
0.4 |
0.6 |
0.2 |
|
Other income |
0.0 |
0.0 |
0.3 |
|
Interest payable on loans |
0.3 |
0.0 |
0.0 |
|
Total expenses |
-0.2 |
-0.6 |
-0.5 |
|
Profit before tax |
3.9 |
1.8 |
2.5 |
|
Provisions |
7.0 |
5.9 |
7.2 |
|
Extraordinary result |
-0.9 |
- |
- |
|
Other taxes |
0.0 |
0.0 |
0.0 |
|
Total taxation |
1.1 |
0.5 |
0.7 |
|
Net profit |
1.8 |
1.3 |
1.7 |
Annual Balance
Sheet
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
0.7 |
0.7 |
0.7 |
|
Total reserves |
0.4 |
0.5 |
0.4 |
|
Profits for the year |
5.6 |
4.0 |
2.6 |
|
Total
stockholders equity |
6.7 |
5.2 |
3.8 |
|
Deferred taxation |
1.1 |
0.4 |
1.2 |
|
Other provisions |
1.0 |
0.9 |
0.7 |
|
Provision for pensions |
5.1 |
4.8 |
4.9 |
|
Provisions and allowances |
7.1 |
6.1 |
6.8 |
|
Trade creditors |
0.2 |
1.3 |
0.8 |
|
Taxation and social security |
0.4 |
1.1 |
0.3 |
|
Due to group companies |
0.7 |
0.5 |
0.1 |
|
Total current
liabilities |
1.3 |
3.0 |
1.1 |
|
Total
liabilities (including net worth) |
15.2 |
14.3 |
11.8 |
|
Total tangible
fixed assets |
0.1 |
0.1 |
0.2 |
|
Shares held in associated companies |
- |
0.1 |
0.1 |
|
Total financial
assets |
0.2 |
0.1 |
0.1 |
|
Total
non-current assets |
0.3 |
0.2 |
0.3 |
|
Finished goods |
0.2 |
0.3 |
0.2 |
|
Net stocks and work in progress |
0.2 |
0.3 |
0.2 |
|
Trade debtors |
2.7 |
1.3 |
2.5 |
|
Other receivables |
0.2 |
0.2 |
0.2 |
|
Total
receivables |
3.1 |
1.7 |
2.9 |
|
Owing from associated companies |
0.2 |
0.2 |
0.2 |
|
Cash and liquid assets |
11.4 |
12.1 |
8.5 |
|
Total current
assets |
14.7 |
14.1 |
11.5 |
|
Prepaid expenses and deferred costs |
0.2 |
0.0 |
- |
|
Total assets |
15.2 |
14.3 |
11.8 |
Annual Ratios
Financials in: USD (mil)
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
110.65 |
47.17 |
100.43 |
|
Acid test ratio |
109.29 |
46.27 |
99.09 |
|
Total liabilities to net worth |
0.02% |
0.06% |
0.03% |
|
Net worth to total assets |
0.04% |
0.04% |
0.03% |
|
Current liabilities to net worth |
0.02% |
0.06% |
0.03% |
|
Current liabilities to stock |
0.74% |
1.10% |
0.75% |
|
Fixed assets to net worth |
0.00% |
0.00% |
0.01% |
|
Collection period |
522.00 |
299.00 |
456.00 |
|
Stock turnover rate |
0.09 |
0.17 |
0.08 |
|
Profit margin |
0.01% |
0.01% |
0.01% |
|
Return on assets |
0.01% |
0.01% |
0.01% |
|
Shareholders' return |
0.03% |
0.03% |
0.04% |
|
Sales per employee |
75.40 |
66.89 |
102.72 |
|
Profit per employee |
11.01 |
5.44 |
8.44 |
|
Average wage per employee |
6.32 |
8.14 |
5.34 |
|
Net worth |
6.7 |
5.2 |
3.8 |
|
Number of employees |
19 |
17 |
14 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.07 |
|
UK Pound |
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.