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Report No. : |
354666 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TEXTILWERK CARL FRIEDRICH GMBH & CO. |
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Registered Office : |
Eschenbeeker Str. 4-8, D 42109 Wuppertal |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1919 |
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Com. Reg. No.: |
HRA 15285 |
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Legal Form : |
Limited Partnership With Private Limited Company As General Partner |
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Line of Business : |
Manufacture of Other Textiles |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Insignificant |
A1 |
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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 |
TEXTILWERK CARL FRIEDRICH GMBH & CO.
Company
Status: active
Eschenbeeker Str. 4-8
D 42109 Wuppertal
Telephone:0202/52706-0
Telefax:
0202/5270666
Homepage: www.frieba.de
E-mail:
info@frieba.de
Trade name: FRIEBA
- Textilwerk Carl Friedrich GmbH + Co.
VAT
no.: DE121108596
Business relations are permissible.
LEGAL FORM Ltd partnership with priv. ltd.
company as
general partner
Date of foundation: 1919
Registered on: 09.12.1975
Register of
companies: Local court 42103 Wuppertal
under: HRA 15285
Total cap. contribution: EUR 300,000.00
Limited partner:
Ingeborg Markowski
D 56179 Vallendar
born: 17.03.1939
née: Pitten
Share: EUR 150,000.00
Limited partner:
Annegret Jarminowski
D 58089 Hagen
born: 03.12.1943
née: Pitten
Share: EUR 150,000.00
General
partner:
MAJA Beteiligungs-GmbH
Eschenbeeker Str. 4
D 42109 Wuppertal
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered on: 09.12.1975
Reg. data: 42103
Wuppertal, HRB 4086
Shareholder:
Ingeborg Markowski
D 56179 Vallendar
born: 17.03.1939
née: Pitten
Share: EUR 13,000.00
Shareholder:
Annegret Jarminowski
D 58089 Hagen
born: 03.12.1943
née: Pitten
Share: EUR 13,000.00
Manager:
Uwe Hein
D 42699 Solingen
having sole power of
representation
born: 27.06.1960
Profession: Businessman
Proxy:
Regina Baitz
D 42103 Wuppertal
authorized to jointly
represent the company
born: 04.02.1967
née: Paffrath
Profession: Businessman
1919 - 19.07.1971 Carl Friedrich
Eschenbeeker Str. 4-8
D 42109 Wuppertal
Unregistered commercial
enterprise
19.07.1971 - 09.12.1975 Textilwerk Carl Friedrich
Eschenbeeker Str. 4-8
D 42109 Wuppertal
Sole proprietorship
Main industrial sector
13990 Manufacture of other textiles n.e.c.
Payment experience: No Complaints
Negative information: We have no negative
information at hand.
Balance sheet year: 2013
PMI: No significant / relevant payment
experience
information pertaining to
the company
inquired upon is shown in
the Deutscher
Debitoren Monitor
(DDMonitor).
Events Index: 1
At present, NO events are
known.
The Events Index
indicates if any particular
events have occurred,
such as e.g. a
relocation of registered
office or a change
within management. On the
basis of number,
relevance and
up-to-dateness of the events
an index value ranging
from 1 (no events) to
5 is calculated.
Companies showing a
particularly large number
of events receive
the index 6.
Type of ownership: Tenant
Address Eschenbeeker Str. 4-8
D 42109 Wuppertal
Real Estate of: MAJA Beteiligungs-GmbH
Type of ownership: Tenant
Address Eschenbeeker Str. 4
D 42109 Wuppertal
Land register documents were not available.
DEUTSCHE BANK, 42097 WUPPERTAL
Sort. code: 33070090
BIC: DEUTDEDWXXX, IBAN: DE58330700900064096100
STADTSPARKASSE WUPPERTAL, 42097 WUPPERTAL
Sort. code: 33050000
BIC: WUPSDE33XXX, IBAN: DE66330500000000482828
Turnover: 2013 *EUR 3,625,000.00
2014 EUR 3,700,000.00
further business figures:
Equipment: *EUR 200,000.00
Ac/ts receivable: EUR 356,673.00
Liabilities: EUR 155,747.00
Total numbers of vehicles: 2
-
Lorries:
1
-
Passenger cars:
1
Employees:
25
The
business figures marked with an asterisk are estimates based
on
average values in the line of business.
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 88.24
Liquidity ratio: 10.00
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 85.25
Liquidity ratio: 10.00
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 83.17
Liquidity ratio: 10.00
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 83.20
Liquidity ratio: 10.00
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.
Type of balance sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 1,960,785.54
Fixed assets
EUR 177,503.00
Current assets
EUR 1,773,789.15
Stocks EUR 284,283.79
Accounts receivable
EUR 356,673.17
Liquid means
EUR 1,132,832.19
Remaining other assets
EUR 9,493.39
Accruals (assets) EUR 9,493.39
LIABILITIES EUR 1,960,785.54
Shareholders' equity
EUR 1,730,206.28
Capital
EUR 368,881.28
Capital
of the fully liable partner
(LP, general partnership)
EUR 68,881.28
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 68,881.28
Limited partner's capital / capital
of partially liable partner (LP)
EUR 300,000.00
Reserves
EUR 1,361,325.00
Provisions
EUR 74,832.00
Liabilities EUR 155,747.26
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 1,877,099.76
Fixed assets
EUR 123,718.00
Current assets
EUR 1,745,131.58
Stocks
EUR 287,445.14
Accounts receivable
EUR 858,463.85
Liquid means
EUR 599,222.59
Remaining other assets
EUR 8,250.18
Accruals (assets)
EUR 8,250.18
LIABILITIES EUR 1,877,099.76
Shareholders' equity
EUR 1,600,279.45
Capital
EUR 364,989.75
Capital of the fully liable partner
(LP, general partnership)
EUR 64,989.75
Capital contribution of gen.
partner/accounts of the pers. liable
shareholder
EUR 64,989.75
Limited partner's capital / capital
of partially liable partner (LP)
EUR 300,000.00
Reserves
EUR 1,235,289.70
Provisions
EUR 138,947.00
Liabilities
EUR 137,873.31
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
EUR |
1 |
Rs.73.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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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
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.