MIRA INFORM REPORT
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Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NORD-SCHROTT
GMBH & CO KG |
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Registered Office : |
Lilienthalstrasse 30 ,Flensburg, 24941 |
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Country : |
Germany |
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Financials (as on) : |
31.03.2012 |
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Year of Establishment : |
1898 |
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Com. Reg. No.: |
HRA2899FL |
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Legal Form : |
Partnership Parent |
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Line of Business : |
Subject provides recycling services to the industrial, commercial and
retail sectors. |
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No. of Employees : |
180 |
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 : |
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) |
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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
NORD-SCHROTT GMBH
& CO KG
Lilienthalstrasse 30
Flensburg, 24941
Germany
Tel: 49 (461) 50 34-00
Fax: 49 (461) 50 34-015
Web:
www.nord-schrott.de
Synthesis
Employees: 180
Company Type: Partnership Parent
Corporate Family: 5 Companies
Incorporation Date: 1898
Financials in: USD
(mil)
Fiscal Year End: 31-Mar-2012
Reporting Currency: Euro
Annual Sales: 733.4
Total Assets: 172.0
Business Description
Founded in 1898, NORD-SCHROTT GmbH & Co. KG provides recycling
services to the industrial, commercial and retail sectors. The company collects
material, plastic, metal and electronic scraps. It owns and operates an X-ray
facility to sort zinc and iron from shredded materials. The company uses
shredders and alligator and flame cutters to sort recycled materials. It
manages a fleet of vehicles to provide distribution and logistics services. The
company specialises in the dismantling of pre-owned electronic appliances and
the extraction of fragments for processing in smelting and metallurgical
plants. Additionally, it supplies raw materials to various industrial firms for
use in production processes.
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Bent-Michael Lassen |
Manager |
|
Jens Roed |
Manager |
Registered
No.(Other):HRA2899FL
Parent
Registered No.(UK):DEU
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7534632
Location
Lilienthalstrasse 30
Flensburg, 24941
Germany
Tel: 49 (461) 50 34-00
Fax: 49 (461) 50 34-015
W
eb Site :www.nord-schrott.de
Sales EUR(mil): 533.2
Assets EUR(mil): 129.6
Employees: 180
Fiscal Year End: 31-Mar-2012
Industry: Waste
Management Services
Incorporation
Date: 1898
Company Type: Partnership Parent
Quoted Status: Not
Quoted
Registered No.(): HRA2899FL
Parent Registered No.(UK): DEU
Manager: Bent-Michael
Lassen
Founded in 1898, NORD-SCHROTT GmbH & Co. KG provides recycling
services to the industrial, commercial and retail sectors. The company collects
material, plastic, metal and electronic scraps. It owns and operates an X-ray
facility to sort zinc and iron from shredded materials. The company uses
shredders and alligator and flame cutters to sort recycled materials. It
manages a fleet of vehicles to provide distribution and logistics services. The
company specialises in the dismantling of pre-owned electronic appliances and
the extraction of fragments for processing in smelting and metallurgical
plants. Additionally, it supplies raw materials to various industrial firms for
use in production processes.
More Business Descriptions
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Wholesale trade in scrap metals; scrap metal processing; processing of
industrial waste materials; all types of recycling |
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NORD-SCHROTT GmbH & Co KG is primarily engaged in wholesale
(purchase and sale) of metal and non-metal waste and scrap and materials for
recycling, including collecting, sorting, separating, stripping of used goods
such as cars in order to obtain reusable parts, (re) packing, storage and
delivery, but without a real transformation process. Additionally the
purchased and sold waste has a remaining value; and dismantling of
end-of-life vehicles (dismantling of cars; wholesale in car wrecks; sale of
parts from wrecks to private persons and professional users). |
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CORPORATE
FAMILY |
CORPORATE
STRUCTURE NEWS: |
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NORD-SCHROTT GmbH & Co KG |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Flensburg, Schleswig-Holstein |
Germany |
Waste Management Services |
733.4 |
180 |
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Subsidiary |
Harrislee, Schleswig-Holstein |
Germany |
Waste Management Services |
|
56 |
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Subsidiary |
Harrislee, Schleswig-Holstein |
Germany |
Waste Management Services |
|
60 |
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Subsidiary |
Flensburg, Schleswig-Holstein |
Germany |
Waste Management Services |
336.9 |
5 |
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Subsidiary |
Nützen, Schleswig-Holstein |
Germany |
Waste Management Services |
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3 |
Executives Report
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Executives |
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Manager |
Administration Executive |
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Manager |
Administration Executive |
Annual Profit & Loss
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.726943 |
0.757168 |
0.70861 |
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Consolidated |
Yes |
Yes |
Yes |
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Total income |
733.4 |
712.1 |
592.9 |
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Raw materials and services |
664.3 |
651.2 |
524.5 |
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Net sales |
733.4 |
712.1 |
592.9 |
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Change in stock |
4.3 |
11.3 |
3.3 |
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Other operating income |
3.6 |
2.3 |
1.4 |
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Raw materials and consumables employed |
664.3 |
651.2 |
524.5 |
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Other external charges |
1.3 |
1.2 |
1.9 |
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Cost of goods sold |
665.6 |
652.4 |
526.4 |
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Cost of raw materials |
665.6 |
652.4 |
526.4 |
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Taxes and social security costs |
2.1 |
1.8 |
1.7 |
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Total payroll costs |
13.5 |
11.3 |
10.7 |
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Fixed asset depreciation and amortisation |
2.8 |
2.6 |
2.2 |
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Other operating costs |
40.5 |
35.0 |
41.4 |
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Net operating income |
19.0 |
24.4 |
16.9 |
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Interest received from loans |
1.0 |
0.6 |
0.5 |
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Income received from associated companies |
- |
- |
0.0 |
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Other income |
0.1 |
0.1 |
0.1 |
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Interest payable on loans |
1.9 |
1.6 |
1.9 |
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Other expenses |
0.8 |
0.7 |
1.0 |
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Total expenses |
1.7 |
1.6 |
2.3 |
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Profit before tax |
17.3 |
22.8 |
14.5 |
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Provisions |
9.7 |
6.1 |
4.4 |
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Other taxes |
0.1 |
0.1 |
0.1 |
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Total taxation |
3.4 |
3.2 |
2.0 |
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Net profit |
13.8 |
19.5 |
12.4 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
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Consolidated |
Yes |
Yes |
Yes |
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Total reserves |
9.3 |
10.0 |
7.5 |
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Total stockholders equity |
40.1 |
40.5 |
36.7 |
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Deferred taxation |
3.9 |
2.8 |
0.6 |
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Other provisions |
5.4 |
3.8 |
3.6 |
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Provision for pensions |
0.0 |
0.0 |
0.0 |
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Provisions and allowances |
9.4 |
6.6 |
4.3 |
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Other debentures |
17.4 |
9.7 |
8.8 |
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Total long-term liabilities |
17.4 |
9.7 |
8.8 |
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Trade creditors |
20.4 |
17.8 |
13.3 |
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Other loans |
61.3 |
43.6 |
44.3 |
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Taxation and social security |
1.5 |
3.7 |
2.3 |
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Other current liabilities |
22.0 |
22.1 |
10.2 |
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Due to group companies |
0.0 |
0.2 |
0.2 |
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Owing to participants |
0.0 |
0.0 |
0.0 |
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Total current liabilities |
105.2 |
87.5 |
70.2 |
|
Total liabilities (including net worth) |
172.0 |
144.3 |
119.9 |
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Patents |
0.0 |
0.1 |
0.1 |
|
Goodwill |
6.4 |
- |
0.0 |
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Intangibles |
6.4 |
0.1 |
0.1 |
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Land and buildings |
17.5 |
12.0 |
9.6 |
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Machinery and tools |
2.7 |
2.4 |
2.8 |
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Fixtures and equipment |
17.5 |
12.0 |
9.6 |
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Fixed assets under construction |
0.0 |
0.6 |
- |
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Total tangible fixed assets |
22.3 |
16.3 |
13.8 |
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Long-term investments |
0.1 |
0.1 |
0.1 |
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Other financial assets |
0.0 |
0.0 |
0.0 |
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Shares held in associated companies |
0.7 |
0.7 |
0.7 |
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Total financial assets |
0.8 |
0.8 |
0.8 |
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Total non-current assets |
29.5 |
17.2 |
14.6 |
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Raw materials |
4.9 |
0.0 |
0.0 |
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Work in progress |
2.4 |
1.3 |
1.2 |
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Finished goods |
50.4 |
33.0 |
19.8 |
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Net stocks and work in progress |
57.7 |
34.3 |
21.0 |
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Trade debtors |
73.5 |
85.5 |
70.5 |
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Other receivables |
9.4 |
5.1 |
11.6 |
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Total receivables |
83.9 |
91.8 |
83.4 |
|
Owing from associated companies |
1.0 |
1.3 |
1.3 |
|
Owing from participants |
0.0 |
0.0 |
0.0 |
|
Cash and liquid assets |
0.1 |
0.1 |
0.7 |
|
Total current assets |
141.8 |
126.3 |
105.1 |
|
Prepaid expenses and deferred costs |
0.8 |
0.9 |
0.3 |
|
Total assets |
172.0 |
144.3 |
119.9 |
Annual Ratios
Financials in: USD
(mil)
|
|
31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
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Consolidated |
Yes |
Yes |
Yes |
|
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|
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Current ratio |
13.48 |
14.44 |
14.96 |
|
Acid test ratio |
7.99 |
10.52 |
11.97 |
|
Total liabilities to net worth |
0.31% |
0.24% |
0.22% |
|
Net worth to total assets |
0.02% |
0.03% |
0.03% |
|
Current liabilities to net worth |
0.26% |
0.22% |
0.19% |
|
Current liabilities to stock |
0.18% |
0.26% |
0.33% |
|
Fixed assets to net worth |
0.07% |
0.04% |
0.04% |
|
Collection period |
380.00 |
409.00 |
453.00 |
|
Stock turnover rate |
0.82 |
0.45 |
0.37 |
|
Profit margin |
0.00% |
0.00% |
0.00% |
|
Return on assets |
0.01% |
0.02% |
0.01% |
|
Shareholders' return |
0.03% |
0.05% |
0.03% |
|
Sales per employee |
279.14 |
294.62 |
240.07 |
|
Profit per employee |
5.26 |
8.09 |
5.03 |
|
Average wage per employee |
5.13 |
4.68 |
4.34 |
|
Net worth |
40.1 |
40.5 |
36.7 |
|
Number of employees |
191 |
183 |
175 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
UK Pound |
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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%)