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Report Date : |
07.11.2012 |
IDENTIFICATION DETAILS
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Name : |
ALMETHA GMBH |
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Registered Office : |
Dieselstr. 3, D 59174 Kamen, Post |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1964 |
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Com. Reg. No.: |
HRB 4679 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of iron ores, iron, steel and iron and steelsemi-finished
goods |
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No. of Employees : |
12 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 |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
Almetha GmbH
Dieselstr. 3
D 59174 Kamen
Post Box:
40 30, D 59161 Kamen
Telephone: 02307/941010
Telefax:
02307/9410111
Homepage: www.almetha.de
E-mail:
rainerheutelbeck@almetha.de
DE177116263
322/5701/0110
LEGAL FORM Private limited company
Date of foundation: 1964
Begin of business
activities: 1992
Registered on: 15.10.1992
Commercial Register: Local
court 59065 Hamm
under: HRB 4679
Share capital:
EUR 100,000.00
Rainer Heutelbeck
Rhönstr. 11
D 58706 Menden
born: 17.05.1947
Share: EUR 50,000.00
Shareholder:
Iron & Steel Investment SA
L
luxemburg
Legal form: Other legal form
Share: EUR 50,000.00
Rainer Heutelbeck
Rhönstr. 11
D 58706 Menden
having sole power of representation
born: 17.05.1947
Marital status: married
1975 - 31.12.1989 ALMETHA
Stromberg & Co. KG
D 58675
Hemer
Ltd
partnership with priv. ltd. company
as
general partner
25.10.1990 - 14.10.1992 Almetha
Stromberg & Co. GmbH
Färberstr. 4
D 58119
Hagen
Private
limited company
15.10.1992 - 18.05.2005 Almetha
Stromberg & Co. GmbH
Dieselstr. 3
D 59174
Kamen
Private
limited company
Main industrial
sector
46721 Wholesale of iron ores,
iron, steel and iron and steelsemi-finished goods
Payment experience: within
agreed terms
Negative information: We have
no negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Dieselstr. 3
D 59174 Kamen
Real Estate of: Rainer
Heutelbeck
Type of ownership: part owner
Share: 50.00 %
Address Rhönstr. 11
D 58706
Menden
Type of real estate: detached single-family house
Value at selling price:
EUR 230,000.00
Land register documents were not available.
Principal bank
COMMERZBANK VORMALS DRESDNER BANK, HAGEN, WESTF
Sort. code: 45080060, BIC: DRESDEFF450
Further banks
COMMERZBANK, DORTMUND
Sort. code: 44040037, BIC: COBADEFF440
FORTIS BANK NDL DEUTSCHLAND, KÖLN
Sort. code: 37010600, BIC: GEBADE33XXX
Turnover: 2010 EUR 16,000,000.00
2011 EUR 20,000,000.00
Profit: 2010 EUR 400,000.00
further
business figures:
Ac/ts
receivable:
EUR 1,130,220.00
Liabilities: EUR 3,151,965.00
Total
numbers of vehicles: 4
-
Lorries:
1
-
Passenger cars:
3
Employees:
12
-
Part-time employees: 1
-
Temporary workers: 2
The aforementioned business figures may partly be estimated information
based on average values in the line of business.
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 31.73
Liquidity
ratio: 0.39
Return
on total capital [%]: 11.73
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity
ratio [%]: 25.40
Liquidity
ratio: 0.30
Return
on total capital [%]: -12.51
Balance
sheet ratios 01.01.2008 - 31.12.2008
Equity
ratio [%]: 30.42
Liquidity
ratio: 0.21
Return
on total capital [%]: 0.68
Balance
sheet ratios 01.01.2007 - 31.12.2007
Equity
ratio [%]: 27.18
Liquidity
ratio: 0.21
Return
on total capital [%]: 6.39
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 4,851,345.16
Fixed assets EUR 75,643.85
Intangible assets EUR 10.00
Concessions, licences, rights EUR 10.00
Tangible assets EUR 75,633.85
Current assets EUR 4,756,505.63
Stocks EUR 3,457,687.57
Accounts receivable EUR 1,130,219.81
Liquid means EUR 168,598.25
Remaining other assets EUR 19,195.68
Accruals (assets) EUR 19,195.68
LIABILITIES EUR 4,851,345.16
Shareholders' equity EUR 1,469,636.94
Capital EUR 100,000.00
Subscribed capital (share capital) EUR 100,000.00
Balance sheet profit/loss (+/-) EUR 1,369,636.94
Profit / loss brought forward EUR 800,424.67
Annual surplus / annual deficit EUR 569,212.27
Provisions EUR 229,743.00
Liabilities EUR 3,151,965.22
Other liabilities EUR 0.00
Unspecified other liabilities EUR 0.00
thereof liabilities from tax /
financial authorities EUR 38,828.17
thereof liabilities from social
security EUR 0.00
Type
of balance
sheet: Company balance sheet
Financial
year: 01.01.2009 - 31.12.2009
ASSETS EUR 3,998,274.86
Fixed assets EUR 91,909.64
Intangible assets EUR 10.00
Other / unspecified intangible
assetsEUR 10.00
Tangible assets EUR 91,899.64
Other / unspecified tangible assets EUR
91,899.64
Current assets EUR 3,885,658.22
Stocks EUR 2,882,316.25
Accounts receivable EUR 813,030.44
Other debtors and assets EUR 813,030.44
Liquid means EUR 190,311.53
Remaining other assets EUR 20,707.00
Accruals (assets) EUR 20,707.00
LIABILITIES EUR 3,998,274.86
Shareholders' equity EUR 900,424.67
Capital EUR 100,000.00
Subscribed capital (share capital) EUR 100,000.00
Balance sheet profit/loss (+/-) EUR 800,424.67
Profit / loss brought forward EUR 1,300,457.06
Annual surplus / annual deficit EUR -500,032.39
Provisions EUR 105,012.00
Liabilities
EUR 2,992,838.19
Other liabilities EUR 2,992,838.19
Unspecified other liabilities EUR 2,992,838.19
thereof liabilities from tax /
financial authorities EUR 31,660.25
thereof liabilities from social
security EUR 3,290.16
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 812,823.19
Staff expenses EUR 491,864.14
Wages and salaries EUR 408,827.16
Social security contributions and
expenses for pension plans and
benefits EUR 83,036.98
Total depreciation EUR 18,410.41
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 18,410.41
Other operating expenses EUR 660,742.96
Operating result from continuing
operations EUR -358,194.32
Interest result (+/-) EUR -122,592.05
Interest and similar income EUR 1,458.84
Interest and similar expenses EUR 124,050.89
Financial result (+/-) EUR -122,592.05
Result from ordinary operations (+/-) EUR
-480,786.37
Income tax / refund of income tax
(+/-)EUR -7,689.61
Other taxes / refund of taxes EUR -11,556.41
Tax (+/-) EUR -19,246.02
Annual
surplus / annual deficit EUR -500,032.39
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.60 |
|
UK Pound |
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.69.86 |
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 |
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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 |
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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.