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Report No. : |
276275.2 |
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Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BAGS FOR LIVING WARENHANDELS-GMBH |
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Registered Office : |
Grenzacher Str. 35, D 96317 Kronach |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.11.2005 |
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Com. Reg. No.: |
HRB 4053 |
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Legal Form : |
Private limited company |
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Line of Business : |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
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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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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, 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 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) 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%. The budget was essentially in balance in 2014. 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 plans to replace nuclear power with renewable energy, which accounts for 34% of total energy consumption, up from 9% in 2000. 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 |
BAGS FOR LIVING WARENHANDELS-GMBH
Company
Status: active
Grenzacher Str. 35
D 96317 Kronach
Telephone:09261/506411
Telefax:
09261/506412
Homepage: www.bagsforliving.de
E-mail: info@bagsforliving.de
VAT no.: DE133039198
Tax ID number: 228/257/20034
Business
relations are permissible.
LEGAL
FORM Private limited company
Date of foundation: 04.11.2005
Shareholders'
agreement: 04.11.2005
Registered on: 23.11.2005
Commercial Register: Local court 96450 Coburg
under: HRB
4053
Share
capital: EUR 25,000.00
Shareholder:
Frank
Passador
Grenzacher Str. 25
D 96317 Kronach
born: 11.10.1968
Share:
EUR 25,000.00
Manager:
Frank Passador
Grenzacher Str. 25
D 96317 Kronach
having sole power of representation
born: 11.10.1968
Profession: Businessman
Marital
status: married
Further functions/participations of Frank
Passador (Manager)
Proprietor:
Frank Passador
Neuglosberg 34
D 96317 Kronach
Legal form: Unregistered commercial enterprise
04.11.2005
- 22.11.2012 bags for living Warenhandels-GmbH
Alte Ludwigsstδdter Str.
17
D 96317 Kronach
Private limited company
Main
industrial sector
46493 Wholesale of leather goods, luggage,
giftware and advertising articles
47722 Retail sale of leatheware and baggage
Payment
experience: within agreed terms
Negative
information:We have no negative information at hand.
Balance
sheet year: 2013
Type of ownership: Tenant
Address Grenzacher
Str. 35
D 96317 Kronach
Type of ownership: proprietor
Share: 100.00
%
Address Am
Silberberg 2
D 96346 Wallenfels
Land register documents were not available.
SPARKASSE KULMBACH-KRONACH, 96317 KRONACH,
OBERFR
Sort. code: 77150000
BIC: BYLADEM1KUB
Turnover: 2013 EUR 5,000,000.00
Profit: 2013 EUR 689,211.00
Ac/ts receivable: EUR
243,417.00
Liabilities: EUR 1,043,970.00
Total numbers of vehicles: 3
- Passenger cars: 3
Employees:
22
- thereof permanent staff: 6
- Part-time employees: 16
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 76.21
Liquidity ratio: 10.00
Return on total capital [%]: 19.14
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 65.99
Liquidity ratio: 10.00
Return on total capital [%]: 20.49
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 58.42
Liquidity ratio: 10.00
Return on total capital [%]: 15.87
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 59.51
Liquidity ratio: 10.00
Return on total capital [%]: 17.89
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.
Balance sheet grade
The
balance sheet grade is based on the following ratios: equity
ratio, liquidity ratio and return on total
capital from the
balance sheets published in the Federal
Gazette. It is calculated
in
accordance with the methodology of Euler Hermes. It ranges
from 1.0 (positive) to 5.0 (negative).
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 3,603,380.87
Fixed assets
EUR 644,721.50
Intangible assets
EUR 3,516.00
Tangible assets
EUR 641,205.50
Current assets
EUR 2,935,834.89
Stocks EUR 637,215.88
Accounts receivable
EUR 243,416.59
Liquid means
EUR 2,055,202.42
Remaining other assets
EUR 22,824.48
Accruals (assets) EUR 22,824.48
LIABILITIES EUR 3,603,380.87
Shareholders' equity
EUR 2,382,748.09
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 2,357,748.09
Profit / loss brought forward
EUR 1,668,537.37
Annual surplus / annual deficit
EUR 689,210.72
Provisions
EUR 170,901.55
Liabilities
EUR 1,043,970.23
Other liabilities
EUR 5,761.00
Deferred taxes (not included under
provisions/liabilities)
EUR 5,761.00
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 3,016,460.30
Fixed assets EUR 648,624.50
Intangible assets
EUR 2,974.00
Tangible assets
EUR 645,650.50
Current assets
EUR 2,341,535.80
Stocks EUR 545,571.12
Accounts receivable
EUR 218,586.89
Liquid means
EUR 1,577,377.79
Remaining other assets
EUR 26,300.00
Accruals
(assets) EUR 26,300.00
LIABILITIES EUR 3,016,460.30
Shareholders' equity
EUR 1,693,537.37
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 1,668,537.37
Profit / loss brought forward
EUR 1,050,632.32
Annual surplus / annual deficit
EUR 617,905.05
Provisions
EUR 139,774.44
Liabilities
EUR 1,176,393.49
Other liabilities
EUR 6,755.00
Deferred taxes (not included under
provisions/liabilities)
EUR 6,755.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.37 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
Report Prepared
by : |
VNT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SCs 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.