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Report Date : |
03.03.2014 |
IDENTIFICATION DETAILS
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Name : |
FILO-TEX GARNVERTRIEB GMBH |
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Registered Office : |
Lerchenstr. 48 D 72458 Albstadt Post Box: 10 01 84, D 72422 Albstadt |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
17.03.1983 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Agents involved
in the sale of agricultural raw materials, live animals, textile raw
materials and semi-finished goods ·
Wholesaler of other intermediate goods |
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No of Employees : |
16 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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, 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.
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Source
: CIA |
filo-tex Garnvertrieb GmbH
Lerchenstr. 48
D 72458 Albstadt
Post Box:
10 01 84, D 72422 Albstadt
Telephone:07431/9575-0
Telefax: 07431/9575-50
Homepage: www.filo-tex-garne.de
E-mail: info@filo-tex-garn.de
Active
DE811182180
LEGAL FORM Private limited company
Date of foundation: 1983
Shareholders' agreement:
04.02.1983
Registered on: 17.03.1983
Commercial Register: Local
court 70190 Stuttgart
under: HRB 400493
Share capital:
EUR 450,000.00
Shareholder:
Rüdiger Zahler
Karl-Peter-Str. 2
D 72458
Albstadt
born:
27.03.1956
Share: EUR 140,000.00
Shareholder:
Martin
Conzelmann
Staufenstr. 32/7
D 72458
Albstadt
born:
10.11.1963
Share: EUR 140,000.00
Shareholder:
Gerhard
Conzelmann
Lortzingstr.
3
D 72458
Albstadt
born:
02.04.1939
Share: EUR 80,000.00
Shareholder:
Friedhelm
Conzelmann
D 72131
Ofterdingen
born: 21.09.1968
Share: EUR 80,000.00
Shareholder:
Cathrin
Lindner
D 72458
Albstadt
Share: EUR 5,000.00
Shareholder:
Jutta Maute
D 71665
Vaihingen
Share: EUR 5,000.00
Manager:
Rüdiger
Zahler
Karl-Peter-Str. 2
D 72458
Albstadt
having sole
power of representation
born:
27.03.1956
Profession:
Fully qualified engineer
Marital
status: married
Manager:
Martin Conzelmann
Staufenstr.
32/7
D 72458
Albstadt
having sole
power of representation
born:
10.11.1963
Profession:
Fully qualified engineer
Manager:
Friedhelm Conzelmann
D 72131
Ofterdingen
born:
21.09.1968
Further functions/participations of Rüdiger Zahler (Manager)
Limited partner:
Schulz-Garne
KG Spinnereivertretungen
Lerchenstr. 48
D 72458
Albstadt
Post Box:
10 01 84, D
72422 Albstadt
Legal form:
Limited partnership
Total
cap. EUR 24,000.00
contribution:
Share: EUR 8,000.00
Registered
on: 15.06.2001
Reg.
data: 70190 Stuttgart, HRA 401381
Proxy:
Schulz-Garne KG
Spinnereivertretungen
Lerchenstr.
48
D 72458
Albstadt
Post Box:
10 01 84, D
72422 Albstadt
Legal form:
Limited partnership
Total
cap. EUR 24,000.00
contribution:
Registered
on: 15.06.2001
Reg.
data: 70190 Stuttgart, HRA 401381
Further functions/participations of Martin Conzelmann (Manager)
General partner:
Schulz-Garne
KG Spinnereivertretungen
Lerchenstr.
48
D 72458
Albstadt
Post Box:
10 01 84, D
72422 Albstadt
Legal form:
Limited partnership
Total
cap. EUR 24,000.00
contribution:
Registered
on: 15.06.2001
Reg.
data: 70190 Stuttgart, HRA 401381
Further functions/participations of Friedhelm Conzelmann (Manager)
Limited partner:
Schulz-Garne
KG Spinnereivertretungen
Lerchenstr.
48
D 72458 Albstadt
Post Box:
10 01 84, D
72422 Albstadt
Legal form:
Limited partnership
Total
cap. EUR 24,000.00
contribution:
Share: EUR 8,000.00
Registered
on: 15.06.2001
Reg.
data: 70190 Stuttgart, HRA 401381
Proxy:
Schulz-Garne
KG Spinnereivertretungen
Lerchenstr.
48
D 72458
Albstadt
Post Box:
10 01 84, D
72422 Albstadt
Legal form:
Limited partnership
Total
cap. EUR 24,000.00
contribution:
Registered
on: 15.06.2001
Reg.
data: 70190 Stuttgart, HRA 401381
1983 - 12.12.1996 filo-tex Garnvertrieb GmbH
Im Raidental 4
D 72458 Albstadt
Private limited company
Sectors
46110 Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods
46760 Wholesale of other intermediate goods
Payment experience: within periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Lerchenstr. 48
D 72458 Albstadt
Land register documents were not available.
Principal bank
DEUTSCHE BANK, 72425 ALBSTADT, WÜRTT
Sort. code: 65370075, Account no.: 147173
BIC: DEUTDESS653
Further banks
SPARKASSE ZOLLERNALB, 72439 ALBSTADT, WÜRTT
Sort. code: 65351260, Account no.: 62401984
BIC: SOLADES1BAL
COMMERZBANK VORMALS DRESDNER BANK, 72421 ALBSTADT, WÜRTT
Sort. code: 65380003, Account no.: 371304000
BIC: DRESDEFF653
Turnover: 2013 *EUR 4,760,000.00
Profit: 2012 EUR 190,984.00
further
business figures:
Equipment: *EUR 152,000.00
Ac/ts
receivable:
EUR 455,346.00
Liabilities: EUR 3,935,094.00
Total
numbers of vehicles: 4
-
Passenger cars:
4
Total
value of vehicles:
EUR 90,000.00
Employees:
16
-
thereof permanent staff:
16
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 [%]: 46.59
Liquidity ratio: 0.16
Return on total capital [%]: 3.16
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 38.27
Liquidity ratio: 0.18
Return on total capital [%]: 3.21
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 34.82
Liquidity ratio: 0.18
Return on total capital [%]: 4.12
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 33.28
Liquidity ratio: 0.33
Return on total capital [%]: 0.95
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.
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.
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 6,053,135.61
Fixed
assets EUR 104,143.00
Intangible
assets EUR 30,587.00
Tangible
assets EUR 73,556.00
Current
assets EUR 5,945,515.43
Stocks EUR 5,488,572.75
Accounts
receivable EUR 455,346.38
Liquid
means EUR 1,596.30
Remaining
other assets EUR 3,477.18
Accruals
(assets) EUR 3,477.18
LIABILITIES EUR 6,053,135.61
Shareholders'
equity EUR 1,691,246.65
Capital EUR 450,000.00
Subscribed
capital (share capital) EUR 450,000.00
Reserves
EUR 900,000.00
Retained
earnings / revenue reserves EUR
900,000.00
Balance
sheet profit/loss (+/-) EUR 341,246.65
Balance
sheet profit / loss EUR 341,246.65
Provisions EUR 426,794.65
Liabilities EUR 3,935,094.31
Financial
debts EUR 555,601.16
Liabilities
due to banks EUR 555,601.16
Other
liabilities EUR 3,379,493.15
Liabilities
due to shareholders EUR 1,137,068.07
Unspecified
other liabilities EUR 2,242,425.08
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result
(+/-) EUR 2,084,832.65
Staff
expenses EUR 771,566.21
Wages and
salaries EUR 692,101.34
Social
security contributions and
expenses for
pension plans and
benefits
EUR 79,464.87
Total
depreciation EUR 32,714.82
Depreciation
on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 32,714.82
Other
operating expenses EUR 857,873.55
Operating
result from continuing
operations EUR 422,678.07
Interest
result (+/-) EUR -146,136.90
Interest and
similar income EUR 2,815.85
Interest and
similar expenses EUR 148,952.75
Financial
result (+/-) EUR -146,136.90
Result from
ordinary operations (+/-) EUR 276,541.17
Income tax /
refund of income tax (+/-)EUR
-84,291.63
Other taxes /
refund of taxes EUR -1,266.00
Tax
(+/-) EUR -85,557.63
Annual
surplus / annual deficit EUR 190,983.54
Type of balance sheet:
Company balance sheet
Financial year: 01.01.2011 -
31.12.2011
ASSETS EUR 6,856,265.87
Fixed
assets EUR 98,618.00
Tangible
assets EUR 98,618.00
Other /
unspecified tangible assets EUR 98,618.00
Current
assets EUR 6,757,647.87
Stocks EUR 5,984,272.15
Accounts
receivable EUR 643,826.09
Other
debtors and assets EUR 643,826.09
Liquid means EUR 129,549.63
LIABILITIES EUR 6,856,265.87
Shareholders'
equity EUR 1,500,263.11
Capital EUR 450,000.00
Subscribed
capital (share capital) EUR 450,000.00
Reserves
EUR 700,000.00
Retained
earnings / revenue reserves EUR
700,000.00
Balance
sheet profit/loss (+/-) EUR 350,263.11
Profit /
loss brought forward EUR 130,269.72
Annual
surplus / annual deficit EUR 219,993.39
Provisions EUR 479,978.81
Liabilities EUR 4,876,023.95
Financial
debts EUR 1,145,127.10
Liabilities
due to banks EUR 1,145,127.10
Other
liabilities EUR 3,730,896.85
Liabilities
due to shareholders EUR 1,123,519.40
Unspecified
other liabilities EUR 2,607,377.45
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Gross result
(+/-) EUR 2,284,195.50
Staff
expenses EUR 748,293.10
Wages and
salaries EUR 672,023.61
Social
security contributions and
expenses for
pension plans and
benefits
EUR 76,269.49
Total depreciation EUR 24,885.96
Depreciation
on tangible / intangible
asssets
(incl. start-up and exp. of
bus. EUR 24,885.96
Other
operating expenses EUR 1,039,483.80
Operating
result from continuing
operations EUR 471,532.64
Interest
result (+/-) EUR -171,950.98
Interest and
similar income EUR 2,319.86
Interest and
similar expenses EUR 174,270.84
Financial
result (+/-) EUR -171,950.98
Result from
ordinary operations (+/-) EUR 299,581.66
Income tax /
refund of income tax (+/-)EUR
-78,170.27
Other taxes /
refund of taxes EUR -1,418.00
Tax
(+/-)
EUR -79,588.27
Annual
surplus / annual deficit EUR 219,993.39
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.07 |
|
|
1 |
Rs. 103.61 |
|
Euro |
1 |
Rs. 85.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.