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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
RECON METALS GMBH |
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Registered Office : |
Langebrücker Str. 8 D 01109 |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
07.06.2007 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Wholesale of electronic
and telecommunications equipment ·
Retail sale
of metal and plastic goods |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 6.5% in 2012. GDP contracted
5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7%
in 2012 - a reflection of low investment spending due to crisis-induced
uncertainty and the decreased demand for German exports from recession-stricken
periphery countries. Stimulus and stabilization efforts initiated in 2008 and
2009 and tax cuts introduced in Chancellor Angela MERKEL's second term
increased Germany's total budget deficit - including federal, state, and
municipal - to 4.1% in 2010, but slower spending and higher tax revenues
reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus
of 0.1%. 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 though the target was already reached in 2012. By 2014, the federal
government wants to balance its budget. 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 electricity generating capacity and 46%
of its base-load electricity production
Source
: CIA
RECON METALS
GMBH
Company Status: active
Langebrücker Str. 8
D 01109 Dresden
Telephone:0351/8881875
Telefax:
0351/8881873
Homepage: www.recon-metals.de
E-mail:
info@recon-metals.de
VAT no.: DE254315569
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 18.05.2007
Shareholders'
agreement: 18.05.2007
Registered on: 07.06.2007
Commercial Register: Local court 01069 Dresden
under: HRB
25635
Share capital: EUR 25,000.00
Shareholder:
Ahrndt Schütz
Langebrücker Str. 12
D 01109 Dresden
born: 20.07.1970
Share: EUR 25,000.00
Manager:
Ahrndt Schütz
Langebrücker Str. 12
D 01109 Dresden
having sole power
of representation
born: 20.07.1970
Further functions/participations of Ahrndt
Schütz (Manager)
Proprietor:
Ahrndt Schütz
Langebrücker Str. 8-10
D 01109 Dresden
Legal form: Unregistered
commercial
enterprise
Shareholder:
Heinrich Schwertransporte
GmbH
Langebrücker Str. 8
D 01109 Dresden
Legal form: Private
limited company
Share capital: EUR 400,000.00
Share: EUR 100,000.00
Registered
on: 07.01.1992
Reg. data: 01069 Dresden, HRB 3253
Shareholder:
pro-eventproductions GmbH
Langebrücker Str. 8
D 01109 Dresden
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 26.06.2009
Reg. data: 01069 Dresden, HRB 27840
Manager:
Heavy Lift Terminal
Dresden GmbH
Langebrücker Str. 8-10
D 01109 Dresden
Legal form: Private
limited company
Share capital: EUR 800,000.00
Registered
on: 08.02.2011
Reg. data: 01069 Dresden, HRB 29762
Main industrial sector
46520
Wholesale of electronic and telecommunications equipment
and parts
47521
Retail sale of metal and plastic goods n.e.c.
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
BALANCE
SHEET YEAR: 2012
Type of ownership: Tenant
Address Langebrücker Str. 8
D 01109 Dresden
Land register documents were not available.
DEUTSCHE BANK, DRESDEN
Sort. code: 87070000, BIC: DEUTDE8CXXX
Turnover: 2011 EUR 6,000,000.00
2012
EUR 5,900,000.00
further business figures:
Ac/ts receivable: EUR 478,859.00
Liabilities: EUR 1,086,942.00
Employees:
2
Balance
sheet ratios
01.01.2012 - 31.12.2012
Equity ratio [%]: 31.56
Liquidity ratio: 0.57
Return on total capital [%]: 0.72
Balance
sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 26.72
Liquidity ratio: 1.09
Return on total capital [%]: 1.53
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 18.59
Liquidity ratio: 0.88
Return on total capital [%]: 3.27
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 33.49
Liquidity ratio: 0.51
Return on total capital [%]: 5.69
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:
01.01.2012 -
31.12.2012
ASSETS
EUR
1,497,469.86
Fixed
assets EUR 488,006.00
Intangible
assets EUR 1.00
Tangible
assets EUR
188,005.00
Financial
assets EUR
300,000.00
Other / unspecified
financial
Assets EUR 300,000.00
Current
assets EUR
1,005,021.67
Stocks EUR 357,317.61
Accounts
receivable EUR 478,859.24
Liquid
means EUR
168,844.82
Remaining
other assets EUR 4,442.19
Accruals
(assets) EUR 4,442.19
LIABILITIES
EUR 1,497,469.86
Shareholders'
equity EUR 392,126.01
Capital EUR 25,000.00
Subscribed
capital (share capital) EUR
25,000.00
Balance
sheet profit/loss (+/-) EUR 367,126.01
Balance
sheet profit / loss EUR 367,126.01
Provisions EUR 18,402.00
Liabilities EUR 1,086,941.85
Type of balance sheet: Company
balance sheet
Financial year:
01.01.2011
- 31.12.2011
ASSETS EUR 2,158,960.68
Fixed
assets EUR
251,664.00
Intangible
assets EUR 1.00
Other /
unspecified intangible assets EUR 1.00
Tangible
assets EUR 151,663.00
Other /
unspecified tangible assets EUR 151,663.00
Financial
assets EUR 100,000.00
Other /
unspecified financial assets EUR 100,000.00
Current
assets EUR 1,900,070.63
Stocks EUR 236,621.62
Accounts
receivable EUR 1,485,707.83
Other
debtors and assets EUR 1,485,707.83
Liquid
means EUR 177,741.18
Remaining
other assets EUR 7,226.05
Accruals
(assets) EUR 7,226.05
LIABILITIES EUR 2,158,960.68
Shareholders'
equity EUR 381,397.09
Capital EUR 25,000.00
Subscribed
capital (share capital) EUR
25,000.00
Balance
sheet profit/loss (+/-) EUR 356,397.09
Balance
sheet profit / loss EUR 356,397.09
Provisions EUR 35,354.00
Liabilities EUR
1,742,209.59
Other
liabilities EUR 1,742,209.59
Unspecified
other liabilities EUR 1,742,209.59
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.98 |
|
|
1 |
Rs.101.49 |
|
Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.