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Report No. : |
336036 |
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Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SYRONOX GMBH |
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Registered Office : |
Kalteiche-Ring 71, D 35708 Haiger |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.05.1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in wholesale of
non-ferrous ores, metals and metal semi-finished goods |
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No. of Employee : |
14 |
RATING & COMMENTS
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MIRA’s 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 5.2% 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 accounted for 27.8% of gross electricity consumption in 2014, 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.
|
Source
: CIA |
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
Business relations are permissible.
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
EUR 300,000.00
Jens
Ritter
Van-Kinsbergen-Ring 35
D
57290 Neunkirchen
born:
20.03.1968
Share: EUR 150,000.00
Shareholder:
Thomas
Harazim
Dillenburger Str. 25
D
57234 Wilnsdorf
born:
13.10.1968
Share: EUR 150,000.00
Thomas
Harazim
Dillenburger Str. 25
D
57234 Wilnsdorf
having sole power of representation
born:
13.10.1968
Profession: Mechanical engineer
Marital status: married
Manager:
Tobias
Wollenweber
D
57518 Steineroth
born:
21.03.1980
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
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
Main industrial sector
46722 Wholesale of non-ferrous ores, metals and
metal semi-finished goods
Payment experience: within periods customary in this trade
Negative information:We
have no negative information at hand.
The maximum credit is our
recommendation for
the maximum credit limit
for the inquired company.
Balance sheet year: 2013
Type of ownership: Tenant
Address Kalteiche-Ring
71
D 35708 Haiger
Land register documents
were not available.
COMMERZBANK VORMALS
DRESDNER BANK, 57003 SIEGEN
Sort. code: 46080010, Account
no.: 0358954700
BIC: DRESDEFF460, IBAN:
DE32460800100358954700
Turnover: 2013 EUR 39,000,000.00
2014 EUR 42,000,000.00
further business figures:
Ac/ts
receivable:
EUR 1,997,435.00
Liabilities: EUR 1,656,803.00
Employees:
14
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 51.35
Liquidity ratio: 2.12
Return on total capital [%]: 0.29
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
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.
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:
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 3,520,217.21
Fixed assets
EUR 363,122.00
Intangible assets
EUR 141,141.00
Tangible assets
EUR 221,981.00
Current assets
EUR 3,146,228.43
Stocks
EUR 456,596.43
Accounts receivable
EUR 1,997,435.14
Liquid means
EUR 692,196.86
Remaining other assets
EUR 10,866.78
Accruals (assets)
EUR 10,866.78
LIABILITIES EUR 3,520,217.21
Shareholders' equity EUR 1,820,894.15
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 1,520,329.56
Balance sheet profit / loss
EUR 1,520,329.56
Provisions
EUR 42,520.00
Liabilities EUR 1,656,803.06
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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
|
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.