MIRA INFORM REPORT

 

 

Report Date :

10.10.2013

 

IDENTIFICATION DETAILS

 

Name :

EDELSTAHLSERVICE GESELLSCHAFT MBH

 

 

Registered Office :

Gottlieb-Daimler-Str. 6-8, D 72172 Sulz

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

03.09.1974

 

 

Com. Reg. No.:

HRB 480309

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesaler of iron ores, iron, steel and iron and steel semi-finished goods

 

 

No. of Employees :

57

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints 

 

 

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

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

 

 

 

Company name

 

EDELSTAHLSERVICE Gesellschaft mbH

 

 

Company Status

 

active

 

 

Main address

 

Gottlieb-Daimler-Str. 6-8

D 72172 Sulz

Telephone:        07454/9680-0

Telefax:             07454/9680-90

Homepage:        www.edelstahlservice-sulz.de

E-mail:              info@edelstahlservice-sulz.de

 

 

Legal office      

 

Gottlieb-Daimler-Str. 6

D 72172 Sulz

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         03.09.1974

Shareholders'

agreement:                    03.09.1974

Registered on:               01.09.1981

Commercial Register:     Local court 70190 Stuttgart

under:                           HRB 480309

Share capital:                 EUR            500,000.00

 

Shareholder

 

Heinz Leuthe

Scheffelstr. 22

D 78315 Radolfzell

born: 15.07.1932

Share:             EUR            260,000.00

 

 Shareholder:

                      Wolfgang Leuthe

                      Lochenstr. 18

                      D 72172 Sulz

                      born: 13.05.1957

                      Share:             EUR            120,000.00

 Shareholder:

                      Frank Leuthe

                      Plettenbergstr. 47

                      D 72172 Sulz

                      born: 09.10.1967

                      Share:             EUR            120,000.00

 

Manager

 

Heinz Leuthe

Scheffelstr. 22

D 78315 Radolfzell

having sole power of representation

born: 15.07.1932

Marital status: married

 

Manager:

                      Wolfgang Leuthe

                      Lochenstr. 18

                      D 72172 Sulz

                      having sole power of representation

                      born: 13.05.1957

                      Marital status: married

 Manager:

                      Frank Leuthe

                      Plettenbergstr. 47

                      D 72172 Sulz

                      having sole power of representation

                      born: 09.10.1967

                      Marital status: single

 

Proxy

 

Peter Regitz

Im Öschle 47

D 78727 Oberndorf

authorized to jointly represent the company

born: 14.02.1967

Profession: Businessman

Marital status: married

 

 

Further functions/participations of Heinz Leuthe (Manager)

 

General partner:

                      Bauherrengemeinschaft Heinz Leuthe, Frank

                      Leuthe + Wolfgang Leuthe

                      Gottlieb-Daimler-Str. 15

                      D 72172 Sulz

                      Legal form: Partnership under the Civil Code

 

Further functions/participations of Wolfgang Leuthe (Manager)

 

General partner:

Bauherrengemeinschaft Heinz Leuthe, Frank

Leuthe + Wolfgang Leuthe

Gottlieb-Daimler-Str. 15

D 72172 Sulz

Legal form: Partnership under the Civil Code

 

Further functions/participations of Frank Leuthe (Manager)

 

General partner:

Bauherrengemeinschaft Heinz Leuthe, Frank

Leuthe + Wolfgang Leuthe

Gottlieb-Daimler-Str. 15

D 72172 Sulz

Legal form: Partnership under the Civil Code

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

46721   Wholesale of iron ores, iron, steel and iron and steel semi-finished goods

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      EDELSTAHLSERVICE Gesellschaft mbH

                      Geschwister-Scholl-Str. 5

                      D 04552 Borna

                      TEL.: 03433-851865

 Branch:

                      EDELSTAHLSERVICE Gesellschaft mbH

                      Augustenstr. 10a

                      D 70178 Stuttgart

                      TEL.: 0711/617076

 Branch:

                      EDELSTAHLSERVICE Gesellschaft mbH

                      Karl-Kleppe-Str. 14

                      D 40474 Düsseldorf

                      TEL.: 0211/45888-01

                      FAX.: 0211/4542918

 Branch:

                      EDELSTAHLSERVICE Gesellschaft mbH

                      Tuchmacherstr. 48 b

                      D 14482 Potsdam

                      TEL.: 0331-7043700

 Branch:

                      EDELSTAHLSERVICE Gesellschaft mbH

                      An der Bahn 4

                      D 22844 Norderstedt

                      TEL.: 040/52683634

                      FAX.: 040/5229228

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:      We have no negative information at hand.

Balance sheet year:       2012

 

 

 

REAL ESTATE

 

Type of ownership:         Tenant

 Address                       An der Bahn 4

                                    D 22844 Norderstedt

 

 Type of ownership:        proprietor

 Share:                          100.00 %

 Address                       Gottlieb-Daimler-Str. 6-8

                                    D 72172 Sulz

 

 Type of ownership:        Tenant

 Address                       Geschwister-Scholl-Str. 5

                                    D 04552 Borna

 

 Type of ownership:        Tenant

 Address                        Augustenstr. 10a

                                    D 70178 Stuttgart

 

 Type of ownership:        Tenant

 Address                       Karl-Kleppe-Str. 14

                                    D 40474 Düsseldorf

 

 Type of ownership:        Tenant

 Address                       Tuchmacherstr. 48 b

                                    D 14482 Potsdam

 

 Land register documents were not available.

 

 

BANKERS

 

COMMERZBANK VORMALS DRESDNER BANK, FREUDENSTADT

Sort. code: 60080000, BIC: DRESDEFF600

 

DEUTSCHE BANK, ALBSTADT, WÜRTT

Sort. code: 65370075, BIC: DEUTDESS653

 

LANDESBANK BADEN-WÜRTTEMBERG, MANNHEIM

Sort. code: 67050000, BIC: SOLADEST670

 

 

FINANCIAL FIGURES

 

Gross profit or loss:2011               EUR         10,733,576.00

                      2012               EUR          9,964,640.00

 Profit:              2011               EUR          3,563,532.00

                      2012               EUR          2,507,150.00

 further business figures:

 Equipment:                              EUR          2,311,885.00

 Ac/ts receivable:                       EUR          2,725,835.00

 Liabilities:                            EUR          1,155,716.00

 Employees:                                                     57

 - thereof permanent staff:                                     57

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 82.49

 Liquidity ratio:                  10.00

 Return on total capital [%]:      17.25

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 82.47

 Liquidity ratio:                  10.00

 Return on total capital [%]:      23.43

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 83.00

 Liquidity ratio:                  10.00

 Return on total capital [%]:      22.04

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 80.12

 Liquidity ratio:                  10.00

 Return on total capital [%]:      19.09

 

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         14,632,584.39

  Fixed assets                           EUR          3,570,849.34

   Intangible assets                     EUR            107,768.00

    Other / unspecified intangible assetsEUR            107,768.00

   Tangible assets                       EUR          3,463,081.34

    Land / similar rights                EUR            845,140.34

    Plant / machinery                    EUR            306,056.00

    Other tangible assets / fixtures and

    fittings                             EUR          2,311,885.00

  Current assets                         EUR         10,997,126.05

   Stocks                                EUR          5,148,159.81

    Other / unspecified stocks           EUR          5,148,159.81

   Accounts receivable                   EUR          2,725,835.01

    Other debtors and assets             EUR          2,725,835.01

   Liquid means                          EUR          3,123,131.23

  Remaining other assets                 EUR             64,609.00

   Accruals (assets)                     EUR             25,661.43

   Deferred taxes (assets)               EUR             38,947.57

 

 LIABILITIES                             EUR         14,632,584.39

  Shareholders' equity                   EUR         12,086,841.66

   Capital                               EUR            500,000.00

    Subscribed capital (share capital)   EUR            500,000.00

   Balance sheet profit/loss (+/-)       EUR         11,586,841.66

    Profit / loss brought forward        EUR          9,079,691.66

    Annual surplus / annual deficit      EUR          2,507,150.00

  Provisions                             EUR          1,388,435.61

   Other / unspecified provisions        EUR          1,388,435.61

  Liabilities                            EUR          1,155,716.28

   Other liabilities                     EUR          1,155,716.28

    Unspecified other liabilities        EUR          1,155,716.28

  Other liabilities                      EUR              1,590.84

   Deferred taxes (not included under

   provisions/liabilities)               EUR              1,590.84

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR          9,964,639.90

  Staff expenses                         EUR          3,439,528.90

   Wages and salaries                    EUR          2,931,478.08

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            508,050.82

  Total depreciation                     EUR            439,941.33

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            439,941.33

  Other operating expenses               EUR          2,557,686.83

  Operating result from continuing

  operations                             EUR          3,527,482.84

  Interest result (+/-)                  EUR             -4,145.51

   Interest and similar income           EUR             33,572.48

   Interest and similar expenses         EUR             37,717.99

  Financial result (+/-)                 EUR             -4,145.51

  Result from ordinary operations (+/-)  EUR          3,523,337.33

  Income tax / refund of income tax (+/-)EUR         -1,010,940.86

  Other taxes / refund of taxes          EUR             -5,246.47

  Tax (+/-)                              EUR         -1,016,187.33

  Annual surplus / annual deficit        EUR          2,507,150.00

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         15,277,277.65

  Fixed assets                           EUR          3,179,952.34

   Intangible assets                     EUR             65,119.00

    Other / unspecified intangible assetsEUR             65,119.00

   Tangible assets                       EUR          3,114,833.34

    Land / similar rights                EUR            649,162.34

    Plant / machinery                    EUR            269,559.00

    Other tangible assets / fixtures and

    fittings                             EUR          2,196,112.00

  Current assets                         EUR         12,001,711.92

   Stocks                                EUR          4,005,566.58

   Accounts receivable                   EUR          2,219,436.34

    Other debtors and assets             EUR          2,219,436.34

   Liquid means                          EUR          5,776,709.00

  Remaining other assets                 EUR             95,613.39

   Accruals (assets)                     EUR             64,383.88

   Deferred taxes (assets)               EUR             31,229.51

 

 LIABILITIES                             EUR         15,277,277.65

  Shareholders' equity                   EUR         12,579,691.66

   Capital                               EUR            500,000.00

    Subscribed capital (share capital)   EUR            500,000.00

   Balance sheet profit/loss (+/-)       EUR         12,079,691.66

    Profit / loss brought forward        EUR          8,516,159.40

    Annual surplus / annual deficit      EUR          3,563,532.26

  Provisions                             EUR          1,336,101.70

  Liabilities                            EUR          1,358,864.78

   Other liabilities                     EUR          1,358,864.78

    Unspecified other liabilities        EUR          1,358,864.78

  Other liabilities                      EUR              2,619.51

   Deferred taxes (not included under

   provisions/liabilities)               EUR              2,619.51

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Gross result (+/-)                     EUR         10,733,576.16

  Staff expenses                         EUR          3,286,696.00

   Wages and salaries                    EUR          2,834,363.90

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR            452,332.10

  Total depreciation                     EUR            279,779.46

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR            279,779.46

  Other operating expenses               EUR          2,196,822.27

  Operating result from continuing

  operations                             EUR          4,970,278.43

  Interest result (+/-)                  EUR             40,411.63

   Interest and similar income           EUR             73,018.42

   Interest and similar expenses         EUR             32,606.79

  Financial result (+/-)                 EUR             40,411.63

  Result from ordinary operations (+/-)  EUR          5,010,690.06

  Income tax / refund of income tax (+/-)EUR         -1,441,009.33

  Other taxes / refund of taxes          EUR             -6,148.47

  Tax (+/-)                              EUR         -1,447,157.80

  Annual surplus / annual deficit        EUR          3,563,532.26

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.92

UK Pound

1

Rs.99.45

Euro

1

Rs.83.92

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.