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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
MGM-SYSTEMS GMBH |
|
|
|
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Registered Office : |
Ottostr. 20 D 85435 Erding |
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|
|
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Country : |
Germany |
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|
|
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Financials (as on) : |
31.12.2012 |
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|
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Date of Incorporation : |
28.09.2009 |
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|
|
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Com. Reg. No.: |
HRB 182399 |
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Legal Form : |
Private limited company |
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|
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Line of Business : |
Agents involved in the sale of
machines (except agricultural machineryand
office machinery) and industrial
supplies n.e.c. Wholesale of other machinery,
equipment and supplies |
|
|
|
|
No. of Employees : |
Not Available |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
MGM-SYSTEMS GMBH
Company Status: active
Ottostr. 20
D 85435 Erding
Telephone:08122/2280193
Telefax:
08122/2280194
Homepage: www.mgm-systems.de
E-mail: info@mgm-systems.de
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 28.09.2009
Shareholders'
agreement: 28.09.2009
Registered on: 16.11.2009
Commercial Register: Local court 80333 München
under: HRB
182399
Share capital: EUR 100,000.00
Shareholder:
Manfred Großkurth
Pretzener Weg 10a
D 85435 Erding
born: 20.12.1965
Share: EUR 100,000.00
Manager:
Manfred Großkurth
Pretzener Weg 10a
D 85435 Erding
having sole power of
representation
born: 20.12.1965
16.11.2009 - 13.07.2011 MGM-Systems
GmbH
Riesenfeldstr. 115
D 80809 München
Private limited company
Main industrial sector
46141
Agents involved in the sale of machines (except agricultural machineryand office machinery)
and industrial supplies n.e.c.
4669
Wholesale of other machinery, equipment and supplies
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 Ottostr.
20
D 85435 Erding
Land register documents were not available.
A
bank connection is unknown.
Profit: 2012 EUR 58,388.00
Ac/ts receivable: EUR 113,798.00
Liabilities: EUR 160,427.00
The number of employees is not known.
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 49.63
Liquidity ratio: 10.00
Return on total capital [%]: 16.59
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 83.44
Liquidity ratio: 10.00
Return on total capital [%]: 17.80
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 57.59
Liquidity ratio: 10.00
Return on total capital [%]: 0.16
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 352,310.69
Fixed assets
EUR 2,117.66
Intangible assets
EUR 902.00
Tangible assets
EUR 1,215.66
Current assets
EUR 349,838.58
Stocks
EUR 39,916.00
Accounts receivable
EUR 113,798.21
Liquid means
EUR 196,124.37
Remaining other assets
EUR 354.45
Accruals (assets) EUR 354.45
LIABILITIES EUR 352,310.69
Shareholders' equity
EUR 175,077.84
Capital
EUR 100,000.00
Subscribed capital (share capital)
EUR 100,000.00
Balance sheet profit/loss (+/-)
EUR 75,077.84
Profit / loss brought forward
EUR 16,689.60
Annual surplus / annual deficit
EUR 58,388.24
Provisions
EUR 16,806.00
Liabilities
EUR 160,426.85
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 147,050.32
Fixed assets
EUR 2,132.66
Intangible assets
EUR 1,021.00
Other / unspecified intangible assetsEUR 1,021.00
Tangible assets
EUR 1,111.66
Other / unspecified tangible assets
EUR 1,111.66
Current assets
EUR 144,885.58
Stocks
EUR 18,747.00
Accounts receivable
EUR 58,738.13
Other debtors and assets
EUR 58,738.13
Liquid means
EUR 67,400.45
Remaining other assets
EUR 32.08
Accruals (assets)
EUR 32.08
LIABILITIES EUR 147,050.32
Shareholders' equity
EUR 122,776.24
Capital
EUR 100,000.00
Subscribed capital (share capital)
EUR 100,000.00
Balance sheet profit/loss (+/-)
EUR 22,776.24
Profit / loss brought forward
EUR -3,312.60
Annual surplus / annual deficit
EUR 26,088.84
Provisions
EUR 10,573.00
Liabilities
EUR 13,701.08
Other liabilities
EUR 13,701.08
Unspecified other liabilities
EUR 13,701.08
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-)
EUR 264,093.31
Staff expenses
EUR 74,643.06
Wages and salaries
EUR 74,643.06
Total depreciation
EUR 2,388.60
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 2,388.60
Other operating expenses
EUR 153,303.76
Operating result from continuing
operations
EUR 33,757.89
Interest result (+/-)
EUR 934.81
Interest and similar income
EUR 934.81
Financial result (+/-)
EUR 934.81
Result from ordinary operations (+/-)
EUR 34,692.70
Income tax / refund of income tax (+/-)EUR -8,603.86
Tax (+/-)
EUR -8,603.86
Annual surplus / annual deficit
EUR 26,088.84
Inconsistent balance sheets:
Financial year published on
01.01.2009 - 31.12.2009 29.10.2010
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
|
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
SDA |
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.