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Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
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Name : |
GEORG SCHÜNEMANN GMBH |
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Registered Office : |
Buntentorsdeich
1, D 28201 Bremen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
23.11.1971 |
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Com. Reg. No.: |
HRB 4952 HB |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer of taps and valves |
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No. of Employees : |
56 |
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) |
|
Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
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
|
Source : CIA |
Georg Schünemann GmbH
Buntentorsdeich 1
D 28201 Bremen
Telephone: 0421/55909-0
Telefax: 0421/55909-40
Homepage: www.sab-bremen.de
E-mail: info@sab-bremen.de
DE287884858
active
LEGAL FORM Private
limited company
Date of foundation: 1971
Registered on: 23.11.1971
Commercial Register: Local court 28195 Bremen
under: HRB
4952 HB
Share capital: EUR 600,000.00
Georg Schünemann
Beteiligungs GmbH
Eppsteiner Str. 26
D 60323 Frankfurt
Legal form:
Private limited company
Share
capital: EUR 25,000.00
Share: EUR 600,000.00
Registered on:
21.08.2012
Reg. data: 60313
Frankfurt, HRB 94501
Control and profit
transfer agreement
Wolfgang Linster
D 24598 Heidmühlen
having sole power
of representation
born: 10.06.1967
Ursula Kosmalla
D 28844 Weyhe
having sole power
of representation
born: 24.02.1956
Further functions/participations of Wolfgang
Linster (Manager)
Manager:
Georg Schünemann
Beteiligungs GmbH
Eppsteiner Str. 26
D 60323 Frankfurt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 21.08.2012
Reg. data: 60313 Frankfurt, HRB 94501
23.11.1971 - 13.06.1995 Georg Schünemann Verwaltungsgesellschaft
mbH
Buntentorsdeich 1
D 28201 Bremen
Private limited
company
28.01.2011 - 08.04.2013 Manager
Felix Krüger
D 97947 Grünsfeld
07.12.2010 - 07.01.2011 Manager
Felix Krüger
D 97947 Grünsfeld
04.05.2000 - 07.01.2011 Manager
Stephan Goltermann
D 26939 Ovelgönne
Main industrial sector
28140
Manufacture of taps and valves n.e.c.
Payment experience: cash discount/within agreed terms
Negative information We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Buntentorsdeich
1
D 28201 Bremen
Real Estate of: Georg
Schünemann Beteiligungs GmbH
Type of ownership: Tenant
Address Eppsteiner
Str. 26
D 60323 Frankfurt
Land register documents were not available.
FRANKFURTER SPARKASSE, FRANKFURT AM MAIN
Sort. code: 50050201, BIC: HELADEF1822
OLDENBURGISCHE LANDESBANK AG, OLDENBURG (OLDB)
Sort. code: 28020050, BIC: OLBODEH2XXX
Turnover:
2011 EUR 9,820,000.00
2012 EUR 9,800,000.00
Expected turnover: EUR 10,000,000.00
further business figures:
Equipment: *EUR 336,000.00
Ac/ts receivable: EUR 2,194,579.00
Liabilities: EUR 2,081,447.00
Total numbers of vehicles: 6
- Lorries:
2
- Passenger cars:
4
Employees: 56
Control and profit transfer agreement to:
Georg Schünemann
Beteiligungs GmbH
Eppsteiner Str. 26
D 60323 Frankfurt
The business figures marked with an asterisk
are estimates based on average values in the line of business.
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 58.84
Liquidity ratio: 1.12
Return on total capital [%]: 12.74
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 56.98
Liquidity ratio: 1.36
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 57.35
Liquidity ratio: 2.85
Return on total capital [%]: 5.69
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 6,758,285.63
Fixed
assets EUR 792,731.00
Intangible
assets EUR 227,426.00
Other /
unspecified intangible assetsEUR
227,426.00
Tangible
assets EUR 565,305.00
Other /
unspecified tangible assets EUR 565,305.00
Current
assets EUR 5,699,053.41
Stocks EUR 3,380,701.19
Accounts
receivable EUR 2,194,579.32
Other
debtors and assets EUR 2,194,579.32
Liquid
means EUR 123,772.90
Remaining
other assets EUR 266,501.22
Accruals
(assets) EUR 266,501.22
LIABILITIES EUR 6,758,285.63
Shareholders'
equity EUR 4,023,262.03
Capital EUR 600,000.00
Subscribed
capital (share capital) EUR 600,000.00
Reserves
EUR 1,055,508.65
Capital
reserves EUR 212,000.00
Retained
earnings / revenue reserves EUR
843,508.65
Balance
sheet profit/loss (+/-) EUR 2,367,753.38
Balance
sheet profit / loss EUR 2,367,753.38
Provisions EUR 653,576.38
Liabilities EUR 2,081,447.22
Other
liabilities EUR 2,081,447.22
Unspecified
other liabilities EUR 2,081,447.22
Type of balance
sheet:
Company balance sheet
Financial year:
01.01.2011 - 31.12.2011
ASSETS EUR 5,516,204.98
Fixed
assets EUR 715,798.68
Intangible
assets EUR 156,873.68
Other /
unspecified intangible assetsEUR
156,873.68
Tangible
assets EUR 558,925.00
Other /
unspecified tangible assets EUR 558,925.00
Current
assets EUR 4,478,655.55
Stocks EUR 2,540,276.80
Accounts
receivable EUR 1,864,012.90
Other
debtors and assets EUR 1,864,012.90
Liquid
means EUR 74,365.85
Remaining
other assets EUR 321,750.75
Accruals
(assets) EUR 321,750.75
LIABILITIES EUR 5,516,204.98
Shareholders'
equity EUR 3,176,944.55
Capital EUR 600,000.00
Subscribed
capital (share capital) EUR 600,000.00
Reserves
EUR 1,055,508.65
Capital
reserves EUR 212,000.00
Retained
earnings / revenue reserves EUR
843,508.65
Balance
sheet profit/loss (+/-) EUR 1,521,435.90
Balance
sheet profit / loss EUR 1,521,435.90
Provisions EUR 894,291.76
Liabilities EUR 1,442,327.98
Other
liabilities EUR 1,442,327.98
Unspecified
other liabilities EUR 1,442,327.98
Other
liabilities EUR 2,640.69
Deferrals
(liabilities) EUR 2,640.69
Inconsistent balance sheets:
Financial year published on
01.01.2009 -
31.12.2009 20.04.2010
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
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 |
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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 |
|
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.