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Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
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Name : |
HAROLD'S LEDERWAREN GMBH |
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Registered Office : |
Lämmerspieler Str. 40-42, D 63179 Obertshausen |
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Country : |
Germany |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1965 |
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|
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Com. Reg. No.: |
HRB 11818 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Wholesale of leather
goods, luggage, giftware and advertising articles ·
Renting of
own or leased commercial property and non-residential buildings |
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|
|
No. of Employees : |
8 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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, has contributed to strong growth 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 5.3% in 2013. The new German government introduced a
minimum wage of $11 per hour to take effect in 2015. 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 and 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. 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 |
HAROLD'S LEDERWAREN GMBH
Company
Status: active
Lämmerspieler Str. 40-42
D 63179 Obertshausen
Telephone:06104/79061
Telefax:
06104/75049
Homepage: www.dothebag.de
E-mail:
info@harolds-lederwaren.de
VAT no.: DE213707826
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1965
Shareholders'
agreement: 27.12.2000
Registered on: 08.02.2001
Commercial Register: Local court 63065 Offenbach
under: HRB 11818
Share capital: EUR 75,000.00
Shareholder:
Thilo Schmelz
Eckenheimer Landstr. 19
D 60318 Frankfurt
born: 17.08.1967
Share: EUR 66,000.00
Shareholder:
Günter Schmelz
Pater-Delp-Str. 3
D 63179 Obertshausen
born: 16.03.1936
Share: EUR 9,000.00
Manager:
Günter Schmelz
Pater-Delp-Str. 3
D 63179 Obertshausen
having sole power of
representation
born: 16.03.1936
Profession: Businessman
Marital status: married
Manager:
Thilo Schmelz
Eckenheimer Landstr. 19
D 60318 Frankfurt
having sole power of
representation
born: 17.08.1967
Proxy:
Helga Schmelz
Pater-Delp-Str. 3
D 63179 Obertshausen
having sole power of
representation
born: 13.08.1939
Marital status: married
Further
functions/participations of Günter Schmelz (Manager)
General
partner:
Schmelz OHG
Lämmerspieler Str. 40-42
D 63179 Obertshausen
Legal form: General
Partnership
Registered
on: 28.04.1965
Reg. data: 63065 Offenbach, HRA 6726
Further
functions/participations of Thilo Schmelz (Manager)
General
partner:
Schmelz OHG
Lämmerspieler Str. 40-42
D 63179 Obertshausen
Legal form: General
Partnership
Registered
on: 28.04.1965
Reg. data: 63065 Offenbach, HRA 6726
Main
industrial sector
46493
Wholesale of leather goods, luggage, giftware and advertising articles
Secondary
industrial sector
68202 Renting
of own or leased commercial property and non-residential buildings
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Lämmerspieler
Str. 40-42
D 63179 Obertshausen
Land register documents were not available.
SPARKASSE LANGEN-SELIGENSTADT, 63179
OBERTSHAUSEN
Sort. code: 50652124
BIC: HELADEF1SLS
Turnover: 2013 *EUR 1,440,000.00
Profit: 2012 EUR 121,873.00
further business figures:
Equipment: *EUR
56,000.00
Ac/ts receivable: EUR
1,072,966.00
Liabilities: EUR 127,211.00
Employees:
8
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 [%]: 94.01
Liquidity ratio: 10.00
Return on total capital [%]: 5.40
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 96.43
Liquidity ratio: 10.00
Return on total capital [%]: 7.86
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 95.84
Liquidity ratio: 10.00
Return on total capital [%]: 9.96
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 93.79
Liquidity ratio: 10.00
Return
on total capital [%]: 8.05
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 2,257,514.03
Fixed assets
EUR 84,840.79
Intangible assets
EUR 0.50
Other / unspecified intangible assetsEUR 0.50
Tangible assets
EUR 84,010.50
Other / unspecified tangible assets
EUR 84,010.50
Financial assets
EUR 829.79
Other / unspecified financial assets EUR 829.79
Current assets
EUR 2,172,673.24
Stocks
EUR 330,576.00
Accounts receivable
EUR 1,072,966.08
Other debtors and assets
EUR 1,072,966.08
Liquid means
EUR 769,131.16
LIABILITIES EUR 2,257,514.03
Shareholders' equity EUR 2,122,293.04
Capital
EUR 75,000.00
Subscribed capital (share capital)
EUR 75,000.00
Balance sheet profit/loss (+/-)
EUR 2,047,293.04
Profit / loss brought forward
EUR 1,925,420.14
Annual surplus / annual deficit
EUR 121,872.90
Provisions
EUR 8,009.61
Liabilities
EUR 127,211.38
Other
liabilities EUR 127,211.38
Unspecified other liabilities
EUR 127,211.38
Type of
balance sheet: Company balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS
EUR 2,074,350.13
Fixed assets
EUR 105,946.29
Intangible assets
EUR 2,863.00
Other / unspecified intangible assetsEUR 2,863.00
Tangible
assets EUR 102,253.50
Other / unspecified tangible assets
EUR 102,253.50
Financial assets
EUR 829.79
Other / unspecified financial assets EUR 829.79
Current assets
EUR 1,968,403.84
Stocks
EUR 209,448.00
Accounts receivable
EUR 1,041,594.31
Other debtors and assets
EUR 1,041,594.31
Liquid means
EUR 717,361.53
LIABILITIES EUR 2,074,350.13
Shareholders' equity
EUR 2,000,420.14
Capital EUR 75,000.00
Subscribed capital (share capital)
EUR 75,000.00
Balance sheet profit/loss (+/-)
EUR 1,925,420.14
Profit / loss brought forward
EUR 1,762,475.29
Annual surplus / annual deficit
EUR 162,944.85
Provisions
EUR 9,010.92
Liabilities
EUR 64,919.07
Other liabilities
EUR 64,919.07
Unspecified other liabilities
EUR 64,919.07
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.