|
Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
FECON GMBH |
|
|
|
|
Registered Office : |
Eckernförder Landstr. 78, D 24941 Flensburg |
|
|
|
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Country : |
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|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
29.10.2001 |
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|
|
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Com. Reg. No.: |
HRB 4430 FL |
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Legal Form : |
Private Limited Company |
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|
Line of Business : |
Manufacturing of Other General-Purpose Machinery |
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No. of Employees : |
66 |
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 |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 |
FeCon GmbH
Company Status: Active
Eckernförder Landstr. 78
D 24941 Flensburg
Telephone:0461/430122-0
Telefax: 0461/430122-11
Homepage: www.fe-con.com
E-mail: info@fe-con.com
Trade name: FeCon GmbH wind & sun
Technologies
DE813319012
Business relations are permissible.
Legal Form Private
limited company
Date of foundation: 29.10.2001
Begin of business
activities: 29.10.2001
Shareholders'
agreement: 29.10.2001
Registered on: 02.01.2002
Commercial Register: Local court 24937 Flensburg
under: HRB
4430 FL
EUR 500,000.00
Wind
& Sun Technologies S.L.
Carrer
del Enginy, nave 7
E
08840 Viladecans
Legal
form: Other legal form
Share: EUR 500,000.00
Manager:
Lorenz
Feddersen
Heidebogen 53
D
24941 Flensburg
having
sole power of representation
born: 30.11.1964
Profession: Businessman
Marital status: married
Manager:
Jean
Hugues Decalf
E -
Castelldefels (Barcelona)
having
sole power of representation
born:
17.07.1965
Nationality: French
Further functions/participations of Lorenz
Feddersen (Manager)
Limited partner:
Lorenz
Feddersen Solar GmbH & Co. KG
Hauptstr. 32
D
25917 Sprakebüll
Legal
form: Ltd partnership with priv. ltd.
company as general partner
Total
cap. EUR 265,360.00
contribution:
Share: EUR 265,360.00
Registered
on: 03.11.2008
Reg.
data: 24937 Flensburg, HRA 6174 FL
Shareholder:
Viento
GmbH
Eckernförder Landstr. 78
D
24941 Flensburg
Legal
form: Private limited company
Share
capital: EUR 50,000.00
Share: EUR 25,000.00
Registered
on: 09.10.2008
Reg.
data: 24937 Flensburg, HRB 7152 FL
Shareholder:
Solarpark Humptrup Ost Beteiligungs GmbH
Süderwang
D
25923 Humptrup
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 16.01.2013
Reg.
data: 24937 Flensburg, HRB 9765 FL
Manager:
Wind
& Sun Service Germany GmbH
Eckernförder Landstr. 78
D
24941 Flensburg
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 10.12.2012
Reg.
data: 24937 Flensburg, HRB 9712 FL
Manager:
Viento
GmbH
Eckernförder Landstr. 78
D
24941 Flensburg
Legal
form: Private limited company
Share
capital: EUR 50,000.00
Registered
on: 09.10.2008
Reg.
data: 24937 Flensburg, HRB 7152 FL
Manager:
Solar-Kontor-Flensburg
GmbH
Ortsstr. 13
D
24980 Nordhackstedt
Legal
form: Private limited company
Share
capital: EUR 25,002.00
Registered
on: 23.03.2010
Reg.
data: 24937 Flensburg, HRB 8069 FL
Manager:
Projektgesellschaft Barderup Solarpark GmbH
Barderuper Dörpstraat 17
D 24988 Oeversee
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 20.01.2012
Reg. data: 24937 Flensburg, HRB 9244 FL
Manager:
Solarpark Humptrup Ost Beteiligungs GmbH
Süderwang
D
25923 Humptrup
Legal
form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 16.01.2013
Reg.
data: 24937 Flensburg, HRB 9765 FL
Further functions/participations of Jean
Hugues Decalf (Manager)
Manager:
Wind
& Sun Service Germany GmbH
Eckernförder Landstr. 78
D
24941 Flensburg
Legal
form: Private limited company
Share
capital: EUR 25,000.00
Registered
on: 10.12.2012
Reg.
data: 24937 Flensburg, HRB 9712 FL
Manager:
Viento
GmbH
Eckernförder Landstr. 78
D 24941 Flensburg
Legal
form: Private limited company
Share
capital: EUR 50,000.00
Registered
on: 09.10.2008
Reg. data:
24937 Flensburg, HRB 7152 FL
Manager:
Solarpark Humptrup Ost Beteiligungs GmbH
Süderwang
D
25923 Humptrup
Legal
form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 16.01.2013
Reg.
data: 24937 Flensburg, HRB 9765 FL
Main industrial sector
28290 Manufacture of other general-purpose
machinery
Payment experience: within agreed terms
Negative information:We
have no negative information at hand.
Balance sheet year: 2011/2012
Type of ownership: Tenant
Address Eckernförder
Landstr. 78
D 24941 Flensburg
Real Estate of: Lorenz
Feddersen
Type of ownership: proprietor
Share: 100.00 %
Address Heidebogen
53
D
24941 Flensburg
Type of real estate: detached single-family house
Land register documents
were not available.
Principal bank
NORD-OSTSEE SPARKASSE,
24910 FLENSBURG
Sort. code: 21750000
BIC: NOLADE21NOS
Further bank
COMMERZBANK, 24903
FLENSBURG
Sort. code: 21540060
BIC: COBADEFFXXX
Turnover: 2011/2012 EUR 15,446,114.00
2012/2013 EUR 11,506,000.00
Expected turnover: EUR 11,500,000.00
Profit: 2011/2012 EUR 660,209.00
further business figures:
Equipment: EUR 331,777.00
Ac/ts receivable: EUR 612,215.00
Liabilities: EUR 6,898,141.00
Employees:
66
Balance sheet ratios
01.10.2011 - 30.09.2012
Equity ratio [%]: 30.67
Liquidity ratio: 0.12
Return on total capital
[%]: 5.47
Balance sheet ratios
01.10.2010 - 30.09.2011
Equity ratio [%]: 62.02
Liquidity ratio: 0.79
Return on total capital
[%]: 14.43
Balance sheet ratios
01.10.2009 - 30.09.2010
Equity ratio [%]: 9.82
Liquidity ratio: 0.35
Return on total capital
[%]: 5.82
Balance sheet ratios
01.10.2008 - 30.09.2009
Equity ratio [%]: 17.15
Liquidity ratio: 0.60
Return on total capital
[%]: 4.01
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: 01.10.2011
- 30.09.2012
ASSETS EUR 12,094,305.42
Fixed assets
EUR 463,770.31
Intangible assets
EUR 47,976.00
Other / unspecified intangible assetsEUR 47,976.00
Tangible assets
EUR 413,794.31
Plant / machinery
EUR 53,828.50
Other tangible assets / fixtures and
fittings
EUR 331,777.00
Advance payments made / construction
in progress
EUR 28,188.81
Financial assets
EUR 2,000.00
Shares in participations /
subsidiaries and the like
EUR 2,000.00
Shares in cooperatives
EUR 2,000.00
Current assets
EUR 11,605,756.11
Stocks
EUR 9,418,189.54
Accounts receivable
EUR 612,215.03
Other debtors and assets
EUR 612,215.03
Liquid means
EUR 1,575,351.54
Remaining other assets
EUR 24,779.00
Accruals (assets)
EUR 24,779.00
LIABILITIES EUR 12,094,305.42
Shareholders' equity
EUR 3,726,474.16
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 3,226,474.16
Profit / loss brought forward
EUR 2,566,265.11
Annual surplus / annual deficit
EUR 660,209.05
Provisions
EUR 1,429,112.89
Liabilities
EUR 6,898,141.47
Financial debts
EUR 55,525.21
Liabilities due to banks
EUR 55,525.21
Other liabilities
EUR 6,842,616.26
Trade creditors (for IAS incl. bills
of exchange) EUR 1,203,252.16
Liabilities from received advance
payments
EUR 1,159,084.15
Unspecified other liabilities
EUR 4,480,279.95
Other liabilities
EUR 40,576.90
Deferrals (liabilities)
EUR 37,872.00
Deferred taxes (not included under
provisions/liabilities)
EUR 2,704.90
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 15,446,113.94
Inventory change + own costs (+/-)
EUR -2,602,327.34
Inventory change (+/-)
EUR -2,602,327.34
Other operating income
EUR 2,189,655.00
Cost of materials
EUR 6,834,945.20
Raw materials and supplies, purchased
goods
EUR 6,000,644.20
Purchased services
EUR 834,301.00
Gross result (+/-)
EUR 8,198,496.40
Staff expenses
EUR 3,070,979.74
Wages and salaries
EUR 2,497,557.50
Social security contributions and
expenses
for pension plans and
benefits
EUR 573,422.24
Total depreciation
EUR 1,665,398.39
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 125,586.21
Depreciation on current assets (+/-)
EUR 1,539,812.18
Other operating expenses
EUR 2,294,475.00
Operating result from continuing
operations EUR 1,167,643.27
Result from participating interests
(+/-)
EUR 120.00
Expenses / income from participations EUR 120.00
Income from related companies
EUR 120.00
Interest result (+/-)
EUR -189,899.61
Interest and similar income
EUR 6,071.81
Interest and similar expenses
EUR 195,971.42
Financial result (+/-)
EUR -189,779.61
Result from ordinary operations (+/-)
EUR 977,863.66
Income tax / refund of income tax (+/-)EUR -315,597.61
Other taxes / refund of taxes
EUR -2,057.00
Tax
(+/-) EUR -317,654.61
Annual surplus / annual deficit
EUR 660,209.05
Type
of balance
sheet: Company balance sheet
Financial year: 01.10.2010 - 30.09.2011
ASSETS EUR
12,780,024.02
Fixed assets
EUR 376,357.50
Intangible assets
EUR 25,808.00
Concessions, licences, rights
EUR 25,808.00
Tangible assets EUR 348,549.50
Plant / machinery
EUR 51,650.00
Other tangible assets / fixtures and
fittings
EUR 296,899.50
Financial assets
EUR 2,000.00
Shares in participations /
subsidiaries and the like
EUR 2,000.00
Shares in cooperatives
EUR 2,000.00
Current assets
EUR 12,382,323.14
Stocks
EUR 10,209,322.74
Finished goods / work in progress
EUR 10,209,322.74
Accounts receivable
EUR 2,053,206.72
Trade debtors
EUR 1,976,568.33
Other debtors and assets
EUR 76,638.39
Liquid means
EUR 119,793.68
Remaining other assets
EUR 21,343.38
Accruals (assets)
EUR 21,343.38
thereof disagio
EUR 1,400.60
LIABILITIES EUR 12,780,024.02
Shareholders' equity
EUR 2,591,265.11
Capital EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 2,566,265.11
Profit / loss brought forward
EUR 727,438.49
Annual surplus / annual deficit
EUR 1,838,826.62
Provisions
EUR 2,136,615.41
Provisions for taxes
EUR 601,429.21
Other / unspecified provisions
EUR 1,535,186.20
Liabilities EUR 8,012,341.85
thereof total due to shareholders
EUR 5,350,159.94
Financial debts
EUR 42,311.62
Liabilities due to banks
EUR 42,311.62
Other liabilities
EUR 7,970,030.23
Trade creditors (for IAS incl. bills
of exchange)
EUR 1,923,460.60
Liabilities from received advance
payments EUR 372,219.40
Unspecified other liabilities
EUR 5,674,350.23
thereof liabilities from tax /
financial authorities
EUR 227,271.70
thereof liabilities from social
security EUR 1,119.40
Other liabilities
EUR 39,801.65
Deferrals (liabilities)
EUR 14,575.00
Deferred taxes (not included under
provisions/liabilities) EUR 25,226.65
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 26,688,049.66
Inventory change + own costs (+/-)
EUR 2,654,792.93
Inventory change (+/-)
EUR 2,654,792.93
Other operating income
EUR 111,789.18
Cost of materials
EUR 17,262,825.18
Raw materials and supplies, purchased
goods EUR 16,184,410.34
Purchased services
EUR 1,078,414.84
Gross result (+/-)
EUR 12,191,806.59
Staff expenses
EUR 3,119,514.80
Wages and salaries
EUR 2,625,104.27
Social security contributions and
expenses for pension plans and
benefits
EUR 494,410.53
Total depreciation
EUR 3,091,553.42
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 153,829.32
Depreciation on current assets (+/-)
EUR 2,937,724.10
Other operating expenses
EUR 3,304,359.56
Operating result from continuing
operations
EUR 2,676,378.81
Result from participating interests
(+/-)
EUR 90.00
Expenses
/ income from participations EUR
90.00
Interest result (+/-)
EUR -29,175.53
Interest and similar income
EUR 87,594.80
Interest and similar expenses
EUR 116,770.33
Financial result (+/-)
EUR -29,085.53
Result from ordinary operations (+/-)
EUR 2,647,293.28
Extraordinary expenses
EUR 121.62
Extraordinary result (+/-)
EUR -121.62
Income tax / refund of income tax (+/-)EUR -806,509.38
Other taxes / refund of taxes
EUR -1,835.66
Tax
(+/-)
EUR -808,345.04
Annual surplus / annual deficit EUR 1,838,826.62
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared by
: |
NIT |
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.