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Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
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Name : |
DIPL.-ING. HERWIG GMBH |
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Registered Office : |
Wasserloses Tal 47, D 58093 Hagen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.06.1989 |
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Com. Reg. No.: |
HRB 2332 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of chemical products |
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No. of Employees : |
08 |
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 |
Dipl.-Ing. Herwig GmbH
Wasserloses Tal 47
D 58093 Hagen
Telephone: 02331/9155-5
Telefax:
02331/15504
Homepage: www.herwig-gmbh.com
E-mail:
info@herwig-gmbh.com
Company Status: active
DE125128301
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 23.06.1989
Shareholders'
agreement: 23.06.1989
Registered on: 11.07.1989
Commercial Register: Local court 58097 Hagen
under: HRB
2332
Share capital: EUR 26,500.00
Helmut Herwig
Paul-Geisler-Weg 4
D 44229 Dortmund
born: 14.04.1941
Share: EUR 26,500.00
Helmut Herwig
Paul-Geisler-Weg 4
D 44229 Dortmund
having sole power of representation
born: 14.04.1941
Profession: graduate engineer
Marital status: married
Manager:
Oliver Herwig
Fleyer Str. 171
D 58097 Hagen
born: 13.08.1969
Main industrial sector
·
46750 Wholesale of chemical products
·
71122 Engineering activities in the field of
technical sectoral planning andengineering design
Payment experience: cash discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Wasserloses
Tal 47
D 58093 Hagen
Land register documents were not
available.
DEUTSCHE BANK, HAGEN, WESTF
Sort. code: 45070002, BIC: DEUTDEDW450
Turnover: 2011 EUR 7,600,000.00
2012 EUR 7,820,000.00
Profit: 2011 EUR 168,998.00
further
business figures:
Ac/ts receivable: EUR 961,683.00
Liabilities: EUR 930,282.00
Total numbers of vehicles: 5
-
Passenger cars: 5
Employees:
8
The
aforementioned business figures may partly be estimated information based on
average values in the line of business.
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 33.31
Liquidity ratio: 1.83
Return on total capital [%]: 9.58
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 24.14
Liquidity ratio: 1.13
Return on total capital [%]: 6.93
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 29.26
Liquidity ratio: 0.98
Return on total capital [%]: 7.01
Balance
sheet ratios 01.01.2008 - 31.12.2008
Equity ratio [%]: 23.64
Liquidity ratio: 1.13
Return on total capital [%]: 17.52
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: 01.01.2011 - 31.12.2011
ASSETS EUR 1,763,475.21
Fixed
assets EUR 120,498.81
Tangible assets
EUR 120,498.81
Other / unspecified tangible assets
EUR 120,498.81
Current assets
EUR 1,641,298.62
Stocks
EUR 275,327.42
Accounts receivable
EUR 961,683.15
Other debtors and assets
EUR 961,683.15
Liquid means
EUR 404,288.05
Remaining other assets
EUR 1,677.78
Accruals (assets)
EUR 1,677.78
LIABILITIES EUR 1,763,475.21
Shareholders' equity EUR 587,380.93
Capital
EUR 26,500.00
Subscribed capital (share capital)
EUR 26,500.00
Balance sheet profit/loss (+/-)
EUR 560,880.93
Profit / loss brought forward
EUR 391,883.34
Annual surplus / annual deficit
EUR 168,997.59
Provisions
EUR 245,812.00
Liabilities
EUR 930,282.28
Other liabilities
EUR 930,282.28
Unspecified other liabilities
EUR 930,282.28
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 1,733,418.16
Fixed assets
EUR 153,014.22
Tangible assets
EUR 153,014.22
Other / unspecified tangible assets
EUR 153,014.22
Current assets
EUR 1,578,006.16
Stocks
EUR 405,875.09
Accounts receivable
EUR 882,677.47
Other debtors and assets
EUR 882,677.47
Liquid means
EUR 289,453.60
Remaining other assets
EUR 2,397.78
Accruals (assets)
EUR 2,397.78
LIABILITIES EUR 1,733,418.16
Shareholders' equity
EUR 418,383.34
Capital
EUR 26,500.00
Subscribed capital (share capital)
EUR 26,500.00
Balance sheet profit/loss (+/-)
EUR 391,883.34
Profit / loss brought forward
EUR 271,743.97
Annual surplus / annual deficit
EUR 120,139.37
Provisions
EUR 245,812.00
Liabilities EUR 1,069,222.82
Other liabilities
EUR 1,069,222.82
Unspecified other liabilities
EUR 1,069,222.82
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
UK Pound |
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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 |
|
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.