MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

RECON METALS GMBH

 

 

Registered Office :

Langebrücker Str. 8 D 01109 Dresden

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

18.05.2007

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Wholesale of electronic and telecommunications equipment

 

 

No. of Employees :

02

 

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 :

Slow but correct

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 and address

 

RECON METALS GMBH

 

Company Status:          active

Langebrücker Str. 8

D 01109 Dresden

Telephone:0351/8881875

Telefax:  0351/8881873

Homepage: www.recon-metals.de

E-mail:   info@recon-metals.de

 

 VAT no.:                      DE254315569

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM               Private limited company

 Date of foundation:       18.05.2007

 Shareholders'

 agreement:                    18.05.2007

 Registered on:              07.06.2007

 Commercial Register:   Local court 01069 Dresden

 under:                           HRB 25635

 

 Share capital:                    EUR             25,000.00

 

 

Shareholder:

 

                      Ahrndt Schütz

                      Langebrücker Str. 12

                      D 01109 Dresden

                      born: 20.07.1970

                      Share:             EUR             25,000.00

 

 Manager:

                      Ahrndt Schütz

                      Langebrücker Str. 12

                      D 01109 Dresden

                      having sole power of representation

                      born: 20.07.1970

 

 

Further functions/participations of Ahrndt Schütz (Manager)

 Proprietor:

                      Ahrndt Schütz

                      Langebrücker Str. 8-10

                      D 01109 Dresden

                      Legal form: Unregistered commercial

                                      enterprise

 

Shareholder:

                      Heinrich Schwertransporte GmbH

                      Langebrücker Str. 8

                      D 01109 Dresden

                      Legal form: Private limited company

                      Share capital:      EUR            400,000.00

                      Share:                  EUR            100,000.00

                      Registered

                      on:                     07.01.1992

                      Reg. data:  01069 Dresden, HRB 3253

 

Shareholder:

                      pro-eventproductions GmbH

                      Langebrücker Str. 8

                      D 01109 Dresden

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:                 EUR             25,000.00

                      Registered

                      on:                     26.06.2009

                      Reg. data:  01069 Dresden, HRB 27840

 

Manager:

                      Heavy Lift Terminal Dresden GmbH

                      Langebrücker Str. 8-10

                      D 01109 Dresden

                      Legal form: Private limited company

                      Share capital:     EUR            800,000.00

                      Registered

                      on:         08.02.2011

                      Reg. data:  01069 Dresden, HRB 29762

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 46520   Wholesale of electronic and telecommunications equipment

 and parts

47521   Retail sale of metal and plastic goods n.e.c.

 

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

 Balance sheet year:  2011

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address                       Langebrücker Str. 8

                                    D 01109 Dresden

 

 Land register documents were not available.

 

 

 BANKERS

 

 DEUTSCHE BANK, DRESDEN

 Sort. code: 87070000, BIC: DEUTDE8CXXX

 

 

 

 FINANCIAL FIGURES

 

 Turnover:                     2011               EUR          6,000,000.00

                                    2012               EUR          5,900,000.00

 further business figures:

 Equipment:                             *            EUR             15,000.00

 Ac/ts receivable:                                  EUR          1,485,708.00

 Liabilities:                                EUR          1,742,210.00

 Employees:                                                                             2

 

 The business figures marked with an asterisk are estimates based

  on average values in the line of business.

 

 

 BALANCE SHEETS

 

 Balance sheet ratios                01.01.2011 - 31.12.2011

 Equity ratio [%]:                                   26.72

 Liquidity ratio:                                       1.09

 Return on total capital [%]:                    1.53

 

 Balance sheet ratios                01.01.2010 - 31.12.2010

 Equity ratio [%]:                                   18.59

 Liquidity ratio:                                      0.88

 Return on total capital [%]:                    3.27

 

Balance sheet ratios                 01.01.2009 - 31.12.2009

 Equity ratio [%]:                                   33.49

 Liquidity ratio:                                      0.51

 Return on total capital [%]:                    5.69

 

 Balance sheet ratios                01.01.2008 - 31.12.2008

 Equity ratio [%]:                                   21.65

 Liquidity ratio:                                      1.23

 Return on total capital [%]:                    17.73

 

 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.

 

 

financial data

 

Type of balance sheet:                         Company balance sheet

 

 Financial year:                                    01.01.2011 - 31.12.2011

 

 ASSETS                                                          EUR          2,158,960.68

Fixed assets                                         EUR            251,664.00

Intangible assets                                   EUR                  1.00

Other / unspecified intangible assets      EUR                  1.00

Tangible assets                                     EUR            151,663.00

Other / unspecified tangible assets         EUR            151,663.00

Financial assets                                    EUR            100,000.00

Other / unspecified financial assets        EUR            100,000.00

Current assets                                       EUR          1,900,070.63

Stocks                                                  EUR            236,621.62

Accounts receivable                                          EUR          1,485,707.83

Other debtors and assets                       EUR          1,485,707.83

Liquid means                                        EUR            177,741.18

Remaining other assets                         EUR              7,226.05

Accruals (assets)                                    EUR              7,226.05

 

 

LIABILITIES                                                     EUR          2,158,960.68

Shareholders' equity                                          EUR            381,397.09

Capital                                                  EUR             25,000.00

Subscribed capital (share capital)           EUR             25,000.00

Balance sheet profit/loss (+/-)                EUR            356,397.09

Balance sheet profit / loss                                 EUR            356,397.09

Provisions                                            EUR             35,354.00

Liabilities                                              EUR          1,742,209.59

Other liabilities                                      EUR          1,742,209.59

Unspecified other liabilities                                EUR          1,742,209.59

 

 

 Type of balance sheet:                        Company balance sheet

 

 Financial year:                                    01.01.2010 - 31.12.2010

 

ASSETS                                               EUR          1,873,800.16

Fixed assets                                         EUR            192,419.00

Intangible assets                                   EUR                  1.00

Other / unspecified intangible assets      EUR                  1.00

Tangible assets                                     EUR            192,418.00

Other / unspecified tangible assets        EUR            192,418.00

Current assets                                       EUR          1,675,116.16

Stocks                                                  EUR            294,012.22

Accounts receivable                                           EUR            852,068.02

Other debtors and assets                      EUR            852,068.02

Liquid means                                        EUR            529,035.92

Remaining other assets                         EUR              6,265.00

Accruals (assets)                                   EUR              6,265.00

 

LIABILITIES                                                     EUR          1,873,800.16

Shareholders' equity                                          EUR            348,372.12

Capital                                                  EUR             25,000.00

Subscribed capital (share capital)           EUR             25,000.00

Balance sheet profit/loss (+/-)                EUR            323,372.12

Balance sheet profit / loss                                 EUR            323,372.12

Provisions                                            EUR             31,717.00

Liabilities                                              EUR          1,493,711.04

Other liabilities                                      EUR          1,493,711.04

Unspecified other liabilities                                EUR          1,493,711.04

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.