MIRA INFORM REPORT
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Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
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Name : |
BAY CITY TEXTILHANDELS GMBH |
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Registered Office : |
An'n Slagboom 7, Norderstedt, 22848 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.08.2011 |
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Com. Reg. No.: |
HRB13292K |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
wholesaler
of adults' fur and leather clothing |
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No. of Employees : |
20 |
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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 6.5% 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.
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Source : CIA |
Company name & address
Bay City Textilhandels GmbH
An'n Slagboom 7
Norderstedt, 22848
Germany
Tel: +49 (0) 40 53413300
Fax: +49 (0) 40 53413301
Synthesis
Employees: 20
Company Type: Private Subsidiary
Corporate Family: 4
Companies
Ultimate Parent: SCHMIDT GROUP AG
Incorporation Date:
24-Aug-2011
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 7.3
Business Description
Bay City Textilhandels 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: 5136 - Men's and
Boy's Clothing and Furnishings
Key Executives
Name Title
Jan-Peter Schmidt Managing
director
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
An'n Slagboom 7
Norderstedt, 22848
Germany
Tel: +49 (0) 40 53413300
Fax: +49 (0) 40 53413301
Sales EUR(mil): NA
Assets EUR(mil): 5.6
Employees: 20
Fiscal Year End: 31-Dec-2011
Industry: Apparel and Accessories
Incorporation Date: 24-Aug-2011
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(): HRB13292K
Parent Registered No.(UK): DEU
Managing director: Jan-Peter Schmidt
Industry Codes
ANZSIC 2006 Codes:
371 - Textile, Clothing and Footwear Wholesaling
NACE 2002 Codes:
5142 - Wholesale of clothing and footwear
NAICS 2002 Codes:
4243 - Apparel, Piece Goods, and Notions Merchant Wholesalers
US SIC 1987:
5136 - Men's and Boy's Clothing and Furnishings
UK SIC 2003:
5142 - Wholesale of clothing and footwear
UK SIC 2007:
4642 - Wholesale of clothing and footwear
Business
Description
Bay City
Textilhandels 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.
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Corporate Family |
Corporate
Structure News: |
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Bay
City Textilhandels GmbH |
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Bay City Textilhandels GmbH |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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SCHMIDT GROUP AG |
Parent |
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Subsidiary |
Norderstedt, Schleswig-Holstein |
Germany |
Apparel and Accessories |
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70 |
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Subsidiary |
Norderstedt, Schleswig-Holstein |
Germany |
Apparel and Accessories |
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32 |
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Subsidiary |
Norderstedt, Schleswig-Holstein |
Germany |
Apparel and Accessories |
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20 |
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Executive report
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Executives |
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Managing director |
Managing Director |
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Annual profit & loss
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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 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Provisions |
1.3 |
0.5 |
0.3 |
Annual
Balance Sheet
Financials in: USD (mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
1.9 |
- |
- |
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Capital reserves |
0.2 |
- |
- |
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Profits for the year |
0.4 |
- |
- |
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Total stockholders equity |
2.5 |
2.8 |
2.6 |
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Provisions and allowances |
1.2 |
0.5 |
0.3 |
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Total current liabilities |
3.6 |
7.8 |
4.0 |
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Total liabilities (including net worth) |
7.3 |
11.1 |
7.0 |
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Intangibles |
0.0 |
- |
0.0 |
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Machinery and tools |
0.0 |
0.0 |
- |
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Total tangible fixed assets |
0.1 |
0.1 |
0.1 |
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Shares held in associated companies |
0.0 |
- |
- |
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Total financial assets |
0.0 |
- |
- |
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Total non-current assets |
0.2 |
0.1 |
0.1 |
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Net stocks and work in progress |
2.9 |
4.9 |
4.1 |
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Total receivables |
4.1 |
5.9 |
2.0 |
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Cash and liquid assets |
0.2 |
0.2 |
0.7 |
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Total current assets |
7.2 |
11.0 |
6.8 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
7.3 |
11.1 |
7.0 |
Annual Ratios
Financials in: USD (mil)
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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 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
19.77 |
14.02 |
17.13 |
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Acid test ratio |
11.72 |
7.77 |
6.86 |
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Total liabilities to net worth |
0.14% |
0.28% |
0.15% |
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Net worth to total assets |
0.03% |
0.03% |
0.04% |
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Current liabilities to net worth |
0.14% |
0.28% |
0.15% |
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Current liabilities to stock |
0.12% |
0.16% |
0.10% |
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Fixed assets to net worth |
0.01% |
0.00% |
0.00% |
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Net worth |
2.5 |
2.8 |
2.6 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.75 |
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UK Pound |
1 |
Rs.89.91 |
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Euro |
1 |
Rs.77.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.