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Report Date : |
10.04.2013 |
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Tel. No.: |
05126 666 |
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Fax No.: |
05126 664 |
IDENTIFICATION DETAILS
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Name : |
KARL WEITERER
SACK- UND PLANENFABRIK GMBH |
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Registered Office : |
Lange Strasse 26
Algermissen, 31191 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
1996 |
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Com. Reg. No.: |
2368 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject engaged in manufacture of soft furnishings; manufacture of canvas goods, sacks, etc |
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No. of Employees : |
30 |
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 : |
Slow but correct |
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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 |
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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.
Source
: CIA
Karl Weiterer Sack- und Planenfabrik GmbH
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Business Description
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Karl Weiterer Sack- und Planenfabrik GmbH
is primarily engaged in manufacture of soft furnishings; manufacture of
canvas goods, sacks, etc.; and manufacture of household textiles. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
1740 - Manufacture of made-up textile articles,
except apparel |
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NAICS 2002: |
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UK SIC 2003: |
1740 - Manufacture of made-up textile articles,
except apparel |
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UK SIC 2007: |
1392 - Manufacture of made-up textile articles,
except apparel |
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US SIC 1987: |
Key Executives
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1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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Executives Report
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
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|
|
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Provisions |
0.2 |
0.2 |
0.3 |
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Annual Balance Sheet |
|
Financials in: USD (mil) |
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|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
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|
|
|
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Issued capital |
0.3 |
0.3 |
0.4 |
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Profits for the year |
1.3 |
1.0 |
0.8 |
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Profit brought forward from previous
year(s) |
1.0 |
0.7 |
0.5 |
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Total stockholders equity |
1.6 |
1.3 |
1.2 |
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Provisions and allowances |
0.2 |
0.2 |
0.3 |
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Total long-term liabilities |
- |
- |
0.1 |
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Total current liabilities |
1.8 |
2.1 |
1.7 |
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Regularisation account |
0.0 |
- |
0.0 |
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Total liabilities (including net worth) |
3.6 |
3.6 |
3.2 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.1 |
0.0 |
0.1 |
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Total financial assets |
0.0 |
- |
- |
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Total non-current assets |
0.1 |
0.0 |
0.1 |
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Net stocks and work in progress |
2.3 |
2.2 |
1.6 |
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Total receivables |
1.1 |
1.3 |
1.2 |
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Cash and liquid assets |
0.1 |
0.1 |
0.3 |
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Total current assets |
3.5 |
3.6 |
3.2 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
3.6 |
3.6 |
3.2 |
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Annual Ratios |
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Financials in: USD (mil) |
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|
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
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Current ratio |
20.00 |
16.81 |
18.59 |
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Acid test ratio |
6.67 |
6.66 |
9.02 |
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Total liabilities to net worth |
0.11% |
0.16% |
0.16% |
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Net worth to total assets |
0.05% |
0.04% |
0.04% |
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Current liabilities to net worth |
0.11% |
0.16% |
0.15% |
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Current liabilities to stock |
0.08% |
0.10% |
0.10% |
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Fixed assets to net worth |
0.01% |
0.00% |
0.01% |
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Net worth |
1.6 |
1.3 |
1.2 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.46 |
|
|
1 |
Rs.83.13 |
|
Euro |
1 |
Rs.70.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.