|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
CODELLO LIFESTYLE-ACCESSOIRES GMBH |
|
|
|
|
Registered Office : |
Bahnhofstr. 8c, D 82229 Seefeld |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.12.1979 |
|
|
|
|
Com. Reg. No.: |
HRB 61467 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of other wearing apparel
and accessories |
|
|
|
|
No. of Employees : |
87 |
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 : |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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, 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 |
CODELLO LIFESTYLE-ACCESSOIRES GMBH
Company
Status: active
Bahnhofstr. 8c
D 82229 Seefeld
Telephone:08152/9903-0
Telefax: 08152/9903-10
Homepage: www.codello.de
E-mail: info@codello.de
VAT no.: DE128219410
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 14.12.1979
Shareholders'
agreement: 14.12.1979
Registered on: 07.02.1980
Commercial Register: Local court 80333 München
under: HRB
61467
Share
capital: EUR 204,516.75
Shareholder:
Heinrich Schnabl
D 82266 Inning
born: 01.10.1943
Share: EUR 68,206.34
Shareholder:
Michael Schnabl
Brunnenweg 3
D 82229 Seefeld
born: 01.04.1976
Share: EUR 68,155.21
Shareholder:
Miriam Schnabl
Brunnenweg 3
D 82229 Seefeld
born: 22.07.1981
Share: EUR 68,155.21
Manager:
Heinrich Schnabl
D 82266 Inning
having sole power of
representation
born: 01.10.1943
Profession: Businessman
Marital status: married
Manager:
Michael Schnabl
Brunnenweg 3
D 82229 Seefeld
having sole power of
representation
born: 01.04.1976
Manager:
Miriam Schnabl
Brunnenweg 3
D 82229 Seefeld
having sole power of representation
born: 22.07.1981
Manager:
Anneliese Schnabl
D 82266 Inning
having sole power of
representation
born: 17.09.1948
14.12.1979 - 03.01.2005 Codello
GmbH
Brunnenweg 3
D 82229 Seefeld
Private limited company
03.01.2005 - 08.03.2005 Codello
Lifestyle-Accessoires GmbH
Brunnenweg 3
D 82229 Seefeld
Private limited company
08.03.2005 - 18.03.2009 Codello
Lifestyle-Accessoires GmbH
Brunnenweg 3
D 82229 Seefeld
Private limited company
Main
industrial sector
14190
Manufacture of other wearing apparel and accessories n.e.c.
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Bahnhofstr.
8c
D 82229 Seefeld
Real Estate of: Heinrich
Schnabl
Type of ownership: proprietor
Share: 100.00 %
Address Brunnenweg 3 OT Hechendorf
D 82229 Seefeld
Type of real estate: residential and business
location
Value at selling price: EUR 1,023,000.00
Land register documents were not available.
Principal bank
COMMERZBANK, 80704 MÜNCHEN
Sort. code: 70040041
BIC: COBADEFF700
Gross profit or loss: 2012
EUR 13,404,119.00
Profit: 2012 EUR 1,394,470.00
Equipment: EUR 874,021.00
Ac/ts receivable: EUR
5,621,529.00
Liabilities: EUR 4,737,672.00
Total numbers of vehicles: 5
Employees:
87
- thereof permanent staff: 87
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 56.37
Liquidity ratio: 6.35
Return on total capital [%]: 12.36
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 57.21
Liquidity ratio: 10.00
Return on total capital [%]: 8.89
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 59.22
Liquidity ratio: 7.40
Return on total capital [%]: 11.77
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 54.83
Liquidity ratio: 3.53
Return on total capital [%]: 6.27
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 11,364,061.66
Fixed assets
EUR 1,141,352.76
Intangible assets
EUR 7,377.00
Other / unspecified intangible assetsEUR 7,377.00
Tangible assets EUR 1,133,974.76
Land / similar rights
EUR 28,179.00
Plant / machinery
EUR 6,184.00
Other tangible assets / fixtures and
fittings
EUR 874,021.00
Advance payments made / construction
in progress
EUR 225,590.76
Financial assets
EUR 1.00
Shares in participations /
subsidiaries and the like
EUR 1.00
Shares in related companies
EUR 1.00
Current assets
EUR 10,073,897.01
Stocks
EUR 1,730,739.00
Accounts receivable
EUR 5,621,528.76
Other debtors and assets
EUR 5,621,528.76
Liquid means
EUR 2,721,629.25
Remaining other assets
EUR 148,811.89
Accruals
(assets) EUR 148,811.89
LIABILITIES EUR 11,364,061.66
Shareholders' equity
EUR 5,296,727.26
Capital
EUR 204,516.75
Subscribed capital (share capital)
EUR 204,516.75
Reserves
EUR 740,000.00
Capital reserves
EUR 740,000.00
Balance sheet profit/loss (+/-)
EUR 4,352,210.51
Balance sheet profit / loss
EUR 4,352,210.51
Provisions
EUR 1,325,664.17
Liabilities
EUR 4,737,672.23
Financial debts EUR 315.07
Liabilities due to banks
EUR 315.07
Other liabilities
EUR 4,737,357.16
Unspecified other liabilities
EUR 4,737,357.16
Other liabilities EUR 3,998.00
Deferrals (liabilities)
EUR 3,998.00
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-) EUR 13,404,119.07
Staff expenses
EUR 3,418,155.07
Wages and salaries
EUR 2,927,011.06
Social security contributions and
expenses for pension plans and
benefits
EUR 491,144.01
Total depreciation
EUR 483,830.82
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 483,830.82
Other operating expenses
EUR 7,536,225.35
Operating result from continuing
operations
EUR 1,965,907.83
Result from participating interests
(+/-)
EUR 30,996.96
Expenses / income from participations EUR 30,996.96
Income from related companies
EUR 30,996.96
Interest result (+/-)
EUR -70,863.84
Interest and similar income
EUR 42,887.96
Interest and similar expenses
EUR 113,751.80
Financial result (+/-)
EUR -39,866.88
Result from ordinary operations (+/-)
EUR 1,926,040.95
Income tax / refund of income tax (+/-)EUR -520,580.91
Other taxes / refund of taxes
EUR -10,990.43
Tax (+/-)
EUR -531,571.34
Annual surplus / annual deficit
EUR 1,394,469.61
Type of
balance sheet: Company balance sheet
Financial
year: 01.01.2011 - 31.12.2011
ASSETS EUR 8,875,489.99
Fixed assets
EUR 869,773.00
Intangible assets
EUR 26,346.00
Other / unspecified intangible assetsEUR 26,346.00
Tangible assets
EUR 818,426.00
Land / similar rights
EUR 43,499.00
Plant / machinery EUR 8,668.00
Other tangible assets / fixtures and
fittings
EUR 766,259.00
Financial assets
EUR 25,001.00
Shares in participations /
subsidiaries and the like
EUR 25,001.00
Shares in related companies
EUR 25,001.00
Current assets
EUR 7,848,968.58
Stocks
EUR 1,725,418.00
Accounts receivable
EUR 3,974,294.95
Other debtors and assets
EUR 3,974,294.95
Liquid means
EUR 2,149,255.63
Remaining other assets
EUR 156,748.41
Accruals (assets)
EUR 156,748.41
LIABILITIES EUR 8,875,489.99
Shareholders' equity
EUR 4,402,257.65
Capital
EUR 204,516.75
Subscribed capital (share capital)
EUR 204,516.75
Reserves
EUR 740,000.00
Capital reserves
EUR 740,000.00
Balance sheet profit/loss (+/-)
EUR 3,457,740.90
Profit / loss brought forward
EUR 2,674,077.51
Annual surplus / annual deficit
EUR 783,663.39
Provisions
EUR 1,411,333.62
Liabilities EUR 3,056,700.72
Financial debts
EUR 122,620.27
Liabilities due to banks
EUR 122,620.27
Other liabilities
EUR 2,934,080.45
Unspecified other liabilities
EUR 2,934,080.45
Other liabilities
EUR 5,198.00
Deferrals (liabilities)
EUR 5,198.00
PROFIT AND
LOSS ACCOUNT (cost-summary method) according to Comm. Code (HGB)
Gross result (+/-)
EUR 11,652,165.62
Staff expenses
EUR 3,012,560.76
Wages and salaries
EUR 2,540,298.21
Social security contributions and
expenses for pension plans and
benefits
EUR 472,262.55
Total depreciation
EUR 425,383.03
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 425,383.03
Other operating expenses
EUR 7,116,734.64
Operating result from continuing
operations
EUR 1,097,487.19
Interest result (+/-) EUR -10,561.49
Interest and similar income
EUR 86,438.38
Interest and similar expenses
EUR 96,999.87
Financial result (+/-)
EUR -10,561.49
Result from ordinary operations (+/-)
EUR 1,086,925.70
Income tax / refund of income tax (+/-)EUR -280,506.40
Other taxes / refund of taxes
EUR -22,755.91
Tax (+/-)
EUR -303,262.31
Annual surplus / annual deficit
EUR 783,663.39
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.20 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
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.