MIRA INFORM REPORT
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Report Date : |
03.09.2012 |
IDENTIFICATION DETAILS
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Name : |
VINK + CO GMBH HANDELSGESELLSCHAFT UND CO KG |
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Registered Office : |
Eichenhohe 24, Kakenstorf, 21255 |
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Country : |
Germany |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
09.01.1981 |
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Com. Reg. No.: |
1938 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
wholesale of
furniture |
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No. of Employees : |
16 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 & address
Vink + Co GmbH Handelsgesellschaft und Co KG
EichenhOhe 24
Kakenstorf, 21255
Germany
Tel: +49 (0) 4186 88800
Fax: +49 (0) 4186 888010
Synthesis
Employees: 16
Company Type: Private Independent
Incorporation Date:
09-Jan-1981
Financials in: USD
(Millions)
Fiscal Year End:
30-Jun-2011
Reporting Currency: Euro
Annual Sales: 168.7
Total Assets: 23.5
Business Description
Vink + Co GmbH Handelsgesellschaft und Co KG 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
Industry Miscellaneous Capital Goods
ANZSIC 2006: 3739 - Other Goods
Wholesaling Not Elsewhere Classified
NACE 2002: 5147 - Wholesale
of other household goods
NAICS 2002: 4232 - Furniture
and Home Furnishing Merchant Wholesalers
UK SIC 2003: 5147 - Wholesale
of other household goods
UK SIC 2007: 4649 - Wholesale
of other household goods
US SIC 1987: 5085 - Industrial
Supplies
Key Executives
Name Title
Cornelius Vink Limited partner
Registered
No.(DEU): 1938
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7347003
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6897265
Corporate Overview
Location
EichenhOhe 24
Kakenstorf, 21255
Germany
Tel: +49 (0) 4186 88800
Fax: +49 (0) 4186 888010
Sales EUR(mil): 123.9
Assets EUR(mil): 16.2
Employees: 16
Fiscal Year End: 30-Jun-2011
Industry: Miscellaneous
Capital Goods
Incorporation Date: 09-Jan-1981
Company Type: Private
Independent
Quoted Status: Not Quoted
Registered No.(DEU): 1938
Limited partner: Cornelius
Vink
Contents
Industry Codes
Business Description
Financial Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere Classified
3319 - Other Agricultural Product Wholesaling
3494 - Other Electrical and Electronic Goods Wholesaling
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5147 - Wholesale of other household goods
5155 - Wholesale of chemical products
5122 - Wholesale of flowers and plants
5143 - Wholesale of electrical household appliances and radio and
television goods
NAICS 2002 Codes:
4232 - Furniture and Home Furnishing Merchant Wholesalers
4246 - Chemical and Allied Products Merchant Wholesalers
424930 - Flower, Nursery Stock, and Florists' Supplies Merchant
Wholesalers
4236 - Electrical and Electronic Goods Merchant Wholesalers
US SIC 1987:
5085 - Industrial Supplies
5064 - Electrical Appliances, Television and Radio Sets
5193 - Flowers, Nursery Stock, and Florists' Supplies
516 - Chemicals and Allied Products
UK SIC 2003:
5147 - Wholesale of other household goods
5155 - Wholesale of chemical products
5143 - Wholesale of electrical household appliances and radio and television
goods
5122 - Wholesale of flowers and plants
UK SIC 2007:
4649 - Wholesale of other household goods
4622 - Wholesale of flowers and plants
4675 - Wholesale of chemical products
4643 - Wholesale of electrical household appliances
Business Description
Vink + Co GmbH Handelsgesellschaft und Co KG 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.
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Executive report
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Executives |
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Limited partner |
Partner |
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Annual Profit & Loss
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-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) |
0.7347 |
0.721483 |
0.731067 |
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Consolidated |
No |
No |
No |
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Total income |
168.7 |
128.9 |
137.3 |
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Raw materials and services |
154.2 |
117.7 |
125.5 |
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Net sales |
168.7 |
128.9 |
137.3 |
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Other operating income |
2.7 |
0.4 |
0.0 |
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Raw materials and consumables employed |
154.2 |
117.7 |
125.5 |
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Other external charges |
0.2 |
0.0 |
- |
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Cost of goods sold |
154.3 |
117.8 |
125.5 |
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Cost of raw materials |
154.3 |
117.8 |
125.5 |
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Taxes and social security costs |
0.1 |
0.2 |
0.2 |
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Total payroll costs |
0.8 |
0.8 |
0.8 |
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Fixed asset depreciation and amortisation |
0.2 |
0.2 |
0.1 |
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Other operating costs |
23.0 |
11.2 |
13.9 |
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Net operating
income |
4.6 |
4.9 |
3.9 |
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Other income |
0.0 |
0.0 |
0.1 |
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Interest payable on loans |
0.0 |
0.0 |
0.0 |
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Total expenses |
0.0 |
0.0 |
-0.1 |
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Profit before tax |
4.6 |
5.0 |
4.0 |
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Provisions |
3.6 |
1.8 |
1.7 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
0.6 |
0.6 |
0.5 |
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Net profit |
4.0 |
4.4 |
3.5 |
Annual Balance Sheet
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30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.689727 |
0.816393 |
0.712936 |
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Consolidated |
No |
No |
No |
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Total reserves |
2.2 |
1.2 |
0.7 |
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Total
stockholders equity |
3.0 |
1.9 |
1.5 |
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Deferred taxation |
- |
0.2 |
0.2 |
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Other provisions |
3.8 |
1.4 |
1.6 |
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Provisions and allowances |
3.8 |
1.6 |
1.8 |
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Trade creditors |
9.4 |
11.7 |
10.1 |
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Advances received |
0.9 |
0.7 |
0.2 |
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Other loans |
0.3 |
- |
0.6 |
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Taxation and social security |
1.0 |
0.3 |
0.2 |
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Other current liabilities |
5.1 |
3.5 |
3.5 |
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Total current
liabilities |
16.7 |
16.2 |
14.6 |
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Total
liabilities (including net worth) |
23.5 |
19.8 |
17.9 |
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Patents |
0.1 |
0.0 |
0.0 |
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Intangibles |
0.1 |
0.0 |
0.0 |
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Land and buildings |
0.8 |
0.7 |
0.8 |
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Fixtures and equipment |
0.8 |
0.7 |
0.8 |
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Total tangible
fixed assets |
1.8 |
1.2 |
1.3 |
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Total
non-current assets |
1.8 |
1.2 |
1.3 |
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Finished goods |
4.8 |
5.7 |
4.1 |
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Prepayments |
0.2 |
0.4 |
3.0 |
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Net stocks and work in progress |
5.0 |
6.1 |
7.1 |
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Trade debtors |
7.1 |
4.0 |
4.9 |
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Other receivables |
1.1 |
0.7 |
1.0 |
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Total
receivables |
8.2 |
4.7 |
5.9 |
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Cash and liquid assets |
8.4 |
7.6 |
3.5 |
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Total current
assets |
21.6 |
18.5 |
16.5 |
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Prepaid expenses and deferred costs |
0.1 |
0.1 |
0.0 |
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Total assets |
23.5 |
19.8 |
17.9 |
Annual Ratios
Financials in: USD (mil)
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|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-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 |
0.689727 |
0.816393 |
0.712936 |
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Consolidated |
No |
No |
No |
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Current ratio |
12.92 |
11.38 |
11.25 |
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Acid test ratio |
9.91 |
7.62 |
6.40 |
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Total liabilities to net worth |
0.56% |
0.85% |
0.99% |
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Net worth to total assets |
0.01% |
0.01% |
0.01% |
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Current liabilities to net worth |
0.56% |
0.85% |
0.99% |
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Current liabilities to stock |
0.33% |
0.27% |
0.21% |
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Fixed assets to net worth |
0.06% |
0.07% |
0.09% |
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Collection period |
146.00 |
131.00 |
128.00 |
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Stock turnover rate |
0.28 |
0.54 |
0.50 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.02% |
0.02% |
0.02% |
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Shareholders' return |
0.14% |
0.20% |
0.25% |
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Net worth |
3.0 |
1.9 |
1.5 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
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UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
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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.