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Report No. : |
355058 |
|
Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LANDES LEDERWARENFABRIK GMBH |
|
|
|
|
Registered Office : |
Achener Weg 56, D 88316 Isny |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
1949 |
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|
|
|
Com. Reg. No.: |
HRB 620151 |
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|
|
Legal Form : |
Private Limited Company |
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|
|
Line of Business : |
·
Processing of leather (except
manufacture of leather apparel) ·
Wholesale of leather goods, luggage,
giftware and advertising articles |
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|
|
|
No. of Employees : |
190 |
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 |
|
Maximum Credit Limit : |
670,000 EUR |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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|
|
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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, 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 |
LANDES LEDERWARENFABRIK GMBH
Company Status: active
Achener Weg 56
D 88316 Isny
Telephone:07562/7060
Telefax:
07562/706230
Homepage: www.landes.de
E-mail:
info@landes.de
VAT
no.: DE811177848
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1949
Registered on: 26.01.1970
Commercial Register: Local court 89073 Ulm
under: HRB 620151
Share capital: EUR 52,000.00
Shareholder:
Landes Holding GmbH
Achener Weg 56
D 88316 Isny
Legal form: Private
limited company
Share capital: EUR 103,530.00
Share: EUR 52,000.00
Registered on: 04.07.2011
Reg. data: 89073 Ulm, HRB
726700
Profit transfer agreement
Manager:
Klaus Hilgert
D 52222 Stolberg
having sole power of
representation
born: 02.06.1962
Profession: Fully
qualified economic
engineer
Manager:
Sandra Landes-Sgambato
D 88316 Isny
born: 13.05.1980
Proxy:
Daniel Zander
D 87527 Sonthofen
authorized to jointly
represent the company
born: 23.12.1978
Marital status: unknown
Further functions/participations of Klaus
Hilgert (Manager)
Manager:
Landes Holding GmbH
Achener Weg 56
D 88316 Isny
Legal form: Private
limited company
Share capital: EUR 103,530.00
Registered
on: 04.07.2011
Reg. data: 89073 Ulm, HRB 726700
Further functions/participations of Sandra
Landes-Sgambato
(Manager)
Manager:
WL Vermögensverwaltung
GmbH
Birkenweg 2
D 88316 Isny
Legal form: Private limited
company
Share capital: EUR 25,000.00
Registered
on: 27.07.2015
Reg. data: 89073 Ulm, HRB 732352
Manager:
Landes Holding GmbH
Achener Weg 56
D 88316 Isny
Legal form: Private
limited company
Share capital: EUR 103,530.00
Registered
on: 04.07.2011
Reg. data: 89073 Ulm, HRB 726700
Member:
Erbengemeinschaft nach
Wolfram Landes
Moos 4
D 87480 Weitnau
Legal form: Community of
heirs
1949 - 26.01.1970 Hans Landes KG
Achener Weg 56
D 88316 Isny
Limited partnership
28.10.2003 -
08.01.2013 Manager
Wolfram Landes
D 87480 Weitnau
Main industrial sector
15120
Processing of leather (except manufacture of leather apparel)
Secondary industrial sector
46493
Wholesale of leather goods, luggage, giftware and advertising articles
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Maximum credit: 670,000 EUR
Balance
sheet year: 2013
PMI: present: 76
01.12.2015
Ø 6 months:87
The "Payment
Morality Index" evaluates
payment delays that have
been reported to
the
"DDMonitor"
100: No payment delays are shown in the
"DDMonitor".
80-99: The "DDMonitor" confirms the
payment
delay of a few
days.
40-79: The "DDMonitor" confirms the
payment
delay of some
days to weeks.
0-39: The "DDMonitor" confirms the
payment
delay of several
months.
Important note: In the
past months only
single or slight payment
delays have become
known.
Type of ownership: Tenant
Address Achener Weg 56
D 88316 Isny
Land register documents were not available.
VOLKSBANK ALLGÄU-WEST, 88308 ISNY IM ALLGÄU
Sort. code: 65092010
BIC: GENODES1WAN
KREISSPARKASSE RAVENSBURG, 88316 ISNY IM
ALLGÄU
Sort. code: 65050110
BIC: SOLADES1RVB
Turnover: 2013 Eur 16,083,227.00
Profit: 2013 Eur -1,863,984.00
Equipment: Eur 90,355.00
Ac/Ts Receivable: Eur 7,417,941.00
Liabilities: Eur 1,853,904.00
Employees:
190
-
Thereof Permanent Staff: 190
Profit transfer agreement to:
Landes Holding GmbH
Achener Weg 56
D 88316 Isny
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 39.86
Liquidity ratio: 1.58
Return on total capital [%]: -34.40
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 77.84
Liquidity ratio: 4.97
Return on total capital [%]: 2.90
Balance sheet ratios 01.07.2011 - 31.12.2011
Equity ratio [%]: 72.60
Liquidity ratio: 10.00
Return on total capital [%]: -13.94
Balance sheet ratios 01.01.2011 - 30.06.2011
Equity ratio [%]: 84.47
Liquidity ratio: 10.00
Return on total capital [%]: 4.72
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
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 9,949,631.04
Fixed assets
EUR 100,994.51
Intangible assets
EUR 4,672.00
Concessions, licences, rights
EUR 4,672.00
Tangible assets
EUR 94,822.51
Plant / machinery EUR 4,468.00
Other tangible assets / fixtures and
fittings
EUR 90,354.51
Financial assets
EUR 1,500.00
Shares in participations /
subsidiaries and the like
EUR 1,500.00
Shares in cooperatives
EUR 1,500.00
Current assets
EUR 9,826,719.17
Stocks
EUR 2,378,980.28
Raw materials, consumables and
supplies
EUR 928,341.12
Finished goods / work in progress
EUR 1,450,287.16
Advance payments made
EUR 352.00
Accounts
receivable EUR 7,417,941.16
Trade debtors
EUR 2,827,432.42
Amounts due from related companies
EUR 4,560,327.54
Other debtors and assets
EUR 30,181.20
Liquid means
EUR 29,797.73
Remaining other assets
EUR 21,917.36
Accruals (assets)
EUR 21,917.36
LIABILITIES EUR 9,949,631.04
Shareholders' equity
EUR 6,690,807.39
Capital
EUR 52,000.00
Subscribed capital (share capital)
EUR 52,000.00
Balance sheet profit/loss (+/-)
EUR 6,638,807.39
Profit / loss brought forward
EUR 6,638,807.39
Provisions
EUR 1,404,919.57
Other / unspecified provisions
EUR 1,404,919.57
Liabilities EUR 1,853,904.08
Financial debts
EUR 606,591.88
Liabilities due to banks
EUR 606,591.88
Other liabilities
EUR 1,247,312.20
Trade creditors (for IAS incl. bills
of exchange)
EUR 897,100.81
Liabililties due to related companiesEUR 46,797.92
Unspecified other liabilities
EUR 303,413.47
Guarantees and other commitments
EUR 5,950,000.00
Liability from creation of a security
interest for third parties
EUR 5,950,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 16,083,227.04
Inventory change + own costs (+/-)
EUR -286,310.65
Inventory change (+/-)
EUR -289,333.33
Capitalised own costs
EUR 3,022.68
Other operating income
EUR 296,431.49
Cost of materials
EUR 6,819,142.73
Raw materials and supplies, purchased
goods
EUR 6,814,455.14
Purchased services EUR 4,687.59
Gross result (+/-)
EUR 9,274,205.15
Staff expenses
EUR 6,776,548.00
Wages and salaries
EUR 5,781,170.18
Social security contributions and
expenses for pension plans and
benefits
EUR 995,377.82
Total depreciation
EUR 220,352.46
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 54,833.17
Depreciation on current assets (+/-)
EUR 165,519.29
Other operating expenses
EUR 4,156,306.18
Operating result from continuing
operations
EUR -1,879,001.49
Interest result (+/-)
EUR 36,932.01
Interest and similar income
EUR 72,781.54
Interest and similar expenses
EUR 35,849.53
Financial result (+/-)
EUR 36,932.01
Result from ordinary operations (+/-)
EUR -1,842,069.48
Income from assumption of loss by
parent company
EUR 1,863,983.60
Other
taxes / refund of taxes EUR -21,914.12
Tax
(+/-)
EUR -21,914.12
Annual surplus / annual deficit
EUR 0.00
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: self-disclosure
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 8,595,998.51
Fixed assets
EUR 96,094.51
Intangible assets
EUR 11,921.00
Concessions, licences, rights
EUR 11,921.00
Tangible assets
EUR 82,673.51
Plant / machinery
EUR 6,964.00
Other tangible assets / fixtures and
fittings
EUR 75,709.51
Financial assets
EUR 1,500.00
Shares in participations /
subsidiaries and the like
EUR 1,500.00
Shares in cooperatives
EUR 1,500.00
Current assets
EUR 8,481,493.43
Stocks
EUR 3,041,882.52
Raw materials, consumables and
supplies
EUR 1,260,178.71
Finished goods / work in progress
EUR 1,774,447.24
Advance payments made
EUR 7,256.57
Accounts receivable
EUR 5,426,942.79
Trade debtors
EUR 2,619,203.75
Amounts due from related companies
EUR 2,805,457.11
Other debtors and assets
EUR 2,281.93
Liquid means
EUR 12,668.12
Remaining other assets
EUR 18,410.57
Accruals (assets)
EUR 18,410.57
LIABILITIES EUR 8,595,998.51
Shareholders' equity EUR 6,690,807.39
Capital
EUR 52,000.00
Subscribed capital (share capital)
EUR 52,000.00
Balance sheet profit/loss (+/-)
EUR 6,638,807.39
Profit / loss brought forward
EUR 6,638,807.39
Provisions
EUR 801,482.44
Other / unspecified provisions
EUR 801,482.44
Liabilities
EUR 1,103,708.68
Financial
debts EUR 462,931.21
Liabilities due to banks
EUR 462,931.21
Other liabilities
EUR 640,777.47
Trade creditors (for IAS incl. bills
of exchange) EUR 287,813.67
Liabililties due to related companiesEUR 1,128.27
Unspecified other liabilities
EUR 351,835.53
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 15,816,999.46
Inventory change + own costs (+/-)
EUR -32,929.85
Inventory change (+/-)
EUR -32,929.85
Other operating income
EUR 377,622.86
Cost of materials
EUR 4,933,559.49
Raw materials and supplies, purchased
goods
EUR 4,932,256.25
Purchased services
EUR 1,303.24
Gross result (+/-)
EUR 11,228,132.98
Staff expenses
EUR 6,723,078.25
Wages and salaries
EUR 5,683,585.63
Social security contributions and
expenses for pension plans and
benefits
EUR 1,039,492.62
Total depreciation
EUR 477,523.43
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 44,506.13
Depreciation on current assets (+/-)
EUR 433,017.30
Other operating expenses
EUR 3,868,293.21
Operating result from continuing
operations
EUR 159,238.09
Interest result (+/-)
EUR 68,584.00
Interest and similar income
EUR 87,415.35
Interest and similar expenses
EUR 18,831.35
Financial result (+/-) EUR 68,584.00
Result from ordinary operations (+/-)
EUR 227,822.09
Expenses for transfer of profits to a
parent company
EUR 249,702.54
Income tax / refund of income tax (+/-)EUR 4,833.00
Other taxes / refund of taxes
EUR 17,047.45
Tax
(+/-)
EUR 21,880.45
Annual surplus / annual deficit
EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.32 |
|
|
1 |
Rs.98.98 |
|
Euro |
1 |
Rs.72.13 |
|
EUR |
1 |
Rs.72.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
TPT |
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.