MIRA INFORM REPORT

 

 

Report Date :

27.08.2014

 

IDENTIFICATION DETAILS

 

Name :

SYRONOX GMBH

 

 

Registered Office :

Kalteiche-Ring 71, D 35708 Haiger

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

10.05.1999

 

 

Com. Reg. No.:

HRB 3648

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Wholesale of non-ferrous ores, metals and metal semi-finished goods

 

 

No. of Employees :

14

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 – 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

 

 

 

 

Company name and address

 

SYRONOX GMBH

 

 Company Status:          active

                                     Kalteiche-Ring 71

                                    D 35708 Haiger

                                    Telephone:02773/7453-0

                                     Telefax:  02773/7453-50

                                     Homepage: www.syronox.de

                                     E-mail:   info@syronox.de

 

 VAT no.:                        DE812718142

 

 

CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Private limited company

 Date of foundation:        10.05.1999

 Shareholders'

 agreement:                    10.05.1999

 Registered on:              11.07.2002

 Commercial Register:    Local court 35578 Wetzlar

 under:                          HRB 3648

 

 Share capital:                          EUR            300,000.00

 

 Shareholder:

                      Antonius Gerrit Horst

                      Roelof van Schevenstraat 21

                      NL 7521 SM Enschede

                      born: 07.06.1937

                      Share:             EUR            150,000.00

 Shareholder:

                      Jens Ritter

                      Van-Kinsbergen-Ring 35

                      D 57290 Neunkirchen

                      born: 20.03.1968

                      Share:             EUR             75,000.00

 Shareholder:

                      Thomas Harazim

                      Dillenburger Str. 25

                      D 57234 Wilnsdorf

                      born: 13.10.1968

                      Share:             EUR             75,000.00

 Manager:

                      Jens Ritter

                      Van-Kinsbergen-Ring 35

                      D 57290 Neunkirchen

                      having sole power of representation

                      born: 20.03.1968

                      Profession: Fully qualified merchant

 Manager:

                      Thomas Harazim

                      Dillenburger Str. 25

                      D 57234 Wilnsdorf

                      having sole power of representation

                      born: 13.10.1968

                      Profession: Mechanical engineer

                      Marital status: married

 Proxy:

                      Tobias Wollenweber

                      D 57518 Steineroth

                      authorized to jointly represent the company

                      born: 21.03.1980

 

 Further functions/participations of Jens Ritter (Manager)

 Limited partner:

                      NetConfig-Gräbener KG

                      Kalteiche-Ring 71

                      D 35708 Haiger

                      Legal form: Limited partnership

                      Total cap.         EUR                 50.00

                      contribution:

                      Share:             EUR                 25.00

                      Registered

                      on:         31.08.2004

                      Reg. data:  35578 Wetzlar, HRA 6558

 

 Further functions/participations of Thomas Harazim (Manager)

 General partner:

                      Christiane Ritter + Thomas Harazim - K240

                      GbR

                      Kalteiche-Ring 71

                      D 35708 Haiger

                      Legal form: Partnership under the Civil Code

 Limited partner:

                      NetConfig-Gräbener KG

                      Kalteiche-Ring 71

                      D 35708 Haiger

                      Legal form: Limited partnership

                      Total cap.         EUR                 50.00

                      contribution:

                      Share:             EUR                 25.00

                      Registered

                      on:         31.08.2004

                      Reg. data:  35578 Wetzlar, HRA 6558

 

 

 COMPANY HISTORY

 

 10.05.1999 - 10.07.2002            Syronox GmbH

                                                Stahlstr. 10

                                                D 57234 Wilnsdorf

                                                Private limited company

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 46722   Wholesale of non-ferrous ores, metals and metal semi-finished goods

 

 

 FINANCIAL INFORMATION

 

 Payment experience:    within periods customary in this trade

 

 Negative information:     We have no negative information at hand.

 

 Balance sheet year:      2012

 

 

 REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Kalteiche-Ring 71

                                    D 35708 Haiger

 

 Land register documents were not available.

 

 

 BANKERS

 

 COMMERZBANK VORMALS DRESDNER BANK, 57003 SIEGEN

 Sort. code: 46080010, Account no.: 0358954700

 BIC: DRESDEFF460, IBAN: DE32460800100358954700

 

 

 FINANCIAL FIGURES

           

 Turnover:               2012               EUR         34,000,000.00

                         2013                 EUR         39,000,000.00

 Expected turnover:                      EUR         42,000,000.00

 further business figures:

 Ac/ts receivable:                                   EUR          3,646,407.00

 Liabilities:                                 EUR          2,782,765.00

 Employees:                                                              14

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                           40.54

 Liquidity ratio:                              1.56

 Return on total capital [%]:           -0.07

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                        56.25

 Liquidity ratio:                           2.06

 Return on total capital [%]:       2.77

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                         40.46

 Liquidity ratio:                            1.01

 Return on total capital [%]:       1.70

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                        88.49

 Liquidity ratio:                           10.00

 Return on total capital [%]:      15.66

 

 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          4,649,380.57

  Fixed assets                           EUR            206,981.00

   Intangible assets                     EUR                 10.00

   Tangible assets                       EUR            206,971.00

  Current assets                         EUR          4,431,053.22

   Stocks                                EUR            415,151.64

   Accounts receivable                   EUR          3,646,406.60

   Liquid means                          EUR            369,494.98

  Remaining other assets                 EUR             11,346.35

   Accruals (assets)                     EUR             11,346.35

 

 LIABILITIES                             EUR          4,649,380.57

  Shareholders' equity                   EUR          1,811,015.33

   Capital                               EUR            300,000.00

    Subscribed capital (share capital)   EUR            300,000.00

   Reserves                              EUR                564.59

    Capital reserves                     EUR                564.59

   Balance sheet profit/loss (+/-)       EUR          1,510,450.74

    Profit / loss brought forward        EUR          1,363,494.60

    Balance sheet profit / loss          EUR            146,956.14

  Provisions                             EUR             55,600.00

  Liabilities                            EUR          2,782,765.24

 

 Type of balance sheet:               Company balance sheet

 

 Financial year:      01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR          3,279,775.13

  Fixed assets                           EUR            107,233.00

   Intangible assets                     EUR              1,215.00

    Other / unspecified intangible assetsEUR              1,215.00

   Tangible assets                       EUR            106,018.00

    Other / unspecified tangible assets  EUR            106,018.00

  Current assets                         EUR          3,155,935.88

   Stocks                                EUR            386,253.29

   Accounts receivable                   EUR          2,748,030.02

    Other debtors and assets             EUR          2,748,030.02

   Liquid means                          EUR             21,652.57

  Remaining other assets                 EUR             16,606.25

   Accruals (assets)                     EUR             16,606.25

 

 LIABILITIES                             EUR          3,279,775.13

  Shareholders' equity                   EUR          1,814,059.19

   Capital                               EUR            300,000.00

    Subscribed capital (share capital)   EUR            300,000.00

   Reserves                              EUR                564.59

    Capital reserves                     EUR                564.59

   Balance sheet profit/loss (+/-)       EUR          1,513,494.60

    Profit / loss brought forward        EUR          1,322,624.46

    Balance sheet profit / loss          EUR            190,870.14

  Provisions                             EUR             76,200.00

  Liabilities                            EUR          1,389,515.94

   Other liabilities                     EUR          1,389,515.94

    Unspecified other liabilities        EUR          1,389,515.94

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.50

UK Pound

1

Rs.100.33

Euro

1

Rs.79.91

 

INFORMATION DETAILS

 

Report Prepared by :

TPT

 

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.