MIRA INFORM REPORT
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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
BAGS FOR LIVING
WARENHANDELS-GMBH |
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Registered Office : |
Alte Ludwigsst Ãdter Strasse 17 ,Kronach,
96317 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.11.2005 |
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Com. Reg. No.: |
4053 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject engaged in wholesale of adults' fur and leather clothing; wholesale
of children's and infants' clothing; wholesale of footwear; and wholesale of
clothing not elsewhere classified. |
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No. of Employees : |
21 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 (31.03.2012) |
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.
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Source : CIA |
COMPANY NAME & ADDRESS
BAGS FOR LIVING
WARENHANDELS-GMBH
Alte Ludwigsstädter Strasse 17
Kronach, 96317
Germany
Tel: +49 (0) 9261 506411
Fax: +49 (0) 9261 506412
SYNTHESIS
Employees: 21
Company Type: Private Independent
Incorporation Date: 04-Nov-2005
Financials in: USD
(mil)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 2.1
Business Description
bags for living Warenhandels-GmbH is primarily engaged in wholesale of
adults' fur and leather clothing; wholesale of children's and infants'
clothing; wholesale of footwear; and wholesale of clothing not elsewhere
classified.
Industry
Industry Apparel and
Accessories
ANZSIC 2006: 371 - Textile,
Clothing and Footwear Wholesaling
NACE 2002: 5142 - Wholesale
of clothing and footwear
NAICS 2002: 4243 - Apparel,
Piece Goods, and Notions Merchant Wholesalers
UK SIC 2003: 5142 - Wholesale
of clothing and footwear
UK SIC 2007: 4642 - Wholesale
of clothing and footwear
US SIC 1987: 5199 - Nondurable
Goods, Not Elsewhere Classified
Key Executives
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Registered
No.(DEU): 4053
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Location
Alte Ludwigsstädter Strasse 17
Kronach, 96317
Germany
Tel:+49 (0) 9261 506411
Fax:+49 (0) 9261 506412
Sales EUR(mil): NA
Assets EUR(mil): 1.5
Employees: 21
Fiscal Year End: 31-Dec-2010
Industry: Apparel and
Accessories
Incorporation Date: 04-Nov-2005
Company Type: Private Independent
Quoted Status: Not Quoted
Registered No.(DEU): 4053
Managing director: Frank Passador
ANZSIC
2006 Codes:
371- Textile, Clothing and Footwear Wholesaling
4279- Other Store-Based Retailing Not Elsewhere Classified
4251- Clothing Retailing
NACE
2002 Codes:
5142- Wholesale of clothing and footwear
5243- Retail sale of footwear and leather goods
5242- Retail sale of clothing
NAICS
2002 Codes:
4243- Apparel, Piece Goods, and Notions Merchant Wholesalers
448- Clothing and Clothing Accessories Stores
4481- Clothing Stores
US
SIC 1987:
5199- Nondurable Goods, Not Elsewhere Classified
5651- Family Clothing Stores
59- Miscellaneous Retail
UK
SIC 2003:
5142- Wholesale of clothing and footwear
5243- Retail sale of footwear and leather goods
5242- Retail sale of clothing
UK
SIC 2007:
4642- Wholesale of clothing and footwear
4772- Retail sale of footwear and leather goods in specialised stores
4771- Retail sale of clothing in specialised stores
bags for living Warenhandels-GmbH is primarily engaged in wholesale of
adults' fur and leather clothing; wholesale of children's and infants'
clothing; wholesale of footwear; and wholesale of clothing not elsewhere
classified.
Financials in: EUR(mil) 1 Year Growth
Assets: 1.5 NA
Current Assets: 1.4
Total Liabilities: 1.5
Issued Capital: 0.0
Net Worth: 0.7
Date of Financial
Data: 31-Dec-2010
Bank: Sparkasse Kronach-Ludwigsstadt -alt-
Executives Report
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Executives |
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Managing director |
Managing Director |
Annual
Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Provisions |
0.2 |
0.2 |
0.2 |
Annual
Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.0 |
0.0 |
0.0 |
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Profits for the year |
0.9 |
0.6 |
0.3 |
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Profit brought forward from previous year(s) |
0.6 |
0.3 |
0.1 |
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Total stockholders equity |
1.0 |
0.7 |
0.3 |
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Provisions and allowances |
0.2 |
0.2 |
0.2 |
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Total long-term liabilities |
0.1 |
0.1 |
0.1 |
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Total current liabilities |
0.7 |
0.5 |
0.4 |
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Total liabilities (including net worth) |
2.1 |
1.5 |
1.0 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.2 |
0.1 |
0.1 |
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Total non-current assets |
0.2 |
0.1 |
0.1 |
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Net stocks and work in progress |
0.4 |
0.3 |
0.3 |
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Total receivables |
0.2 |
0.1 |
0.1 |
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Cash and liquid assets |
1.3 |
1.0 |
0.5 |
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Total current assets |
1.9 |
1.4 |
0.9 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
2.1 |
1.5 |
1.0 |
Annual
Ratios
Financials in: USD (mil)
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|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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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 |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
25.53 |
26.14 |
21.28 |
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Acid test ratio |
19.94 |
20.18 |
14.57 |
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Total liabilities to net worth |
0.09% |
0.10% |
0.17% |
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Net worth to total assets |
0.05% |
0.04% |
0.03% |
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Current liabilities to net worth |
0.07% |
0.08% |
0.13% |
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Current liabilities to stock |
0.18% |
0.17% |
0.15% |
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Fixed assets to net worth |
0.02% |
0.01% |
0.04% |
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Net worth |
1.0 |
0.7 |
0.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian
Rupees |
|
US Dollar |
1 |
Rs.53.32 |
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UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
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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.