|
Report No. : |
240527.2 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELATRADE
HANDELSGESELLSCHAFT MBH |
|
|
|
|
Registered Office : |
Esplanade
6 D 20354 Hamburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.05.1991 |
|
|
|
|
Legal Form : |
Private
limited company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
04 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 |
We refer
to your enquiry of 24.10.2013.
In
the meantime there have been changes in particular in the
following areas subject to monitoring:
-
Balance sheets
DELATRADE HANDELSGESELLSCHAFT MBH
Company Status: active
Esplanade 6
D 20354 Hamburg
Telephone:040/345194
Telefax:
040/342359
Homepage: www.delatrade.de
E-mail: info@delatrade.de
VAT
no.: DE118541161
Tax
ID number: 25/873/00144
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 28.05.1991
Shareholders'
agreement: 28.05.1991
Registered on: 03.07.1991
Commercial Register: Local court 20355 Hamburg
under: HRB
47628
Share capital: EUR
127,822.97
Peter Schirrmann
Schemmannstr. 12b
D 22359 Hamburg
born: 21.08.1940
Share: EUR 127,822.97
Peter Schirrmann
Schemmannstr. 12b
D 22359 Hamburg
having sole power of
representation
born: 21.08.1940
Profession: Businessman
Marital status: married
Further functions/participations of Peter
Schirrmann (Manager)
Shareholder:
VALENOX Rohstoffe GmbH
Hanauer Landstr. 146
D 60314 Frankfurt
Legal form: Private
limited company
dissolved by
official decree
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Registered on:
01.10.2004
Reg. data: 60313 Frankfurt, HRB 73530
1991 - 1991 DEGUTRADE
Handelsgesellschaft mbH
Esplanade 6
D 20354 Hamburg
Private limited company
Sectors
46722
Wholesale of non-ferrous ores, metals and metal
semi-finished goods
46750
Wholesale of chemical products
Payment experience: cash discount/within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Esplanade
6
D 20354 Hamburg
Land register documents were not available.
COMMERZBANK, 20454 HAMBURG
Sort. code: 20040000, Account no.: 402593800
BIC: COBADEHHXXX, IBAN: DE44200400000402593800
UNICREDIT BANK - HYPOVEREINSBANK, 20454
HAMBURG
Sort. code: 20030000, Account no.: 150284
BIC: HYVEDEMM300, IBAN: DE32200300000000150284
Turnover: 2013 EUR 21,300,000.00
Profit: 2012 EUR 880,745.00
further business figures:
Equipment: EUR 9,297.00
Ac/ts receivable: EUR 2,241,886.00
Liabilities: EUR 3,735,229.00
Total numbers of vehicles: 1
-
Passenger cars:
1
Employees:
4
-
thereof permanent staff: 3
-
Part-time employees: 1
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity
ratio [%]: 63.74
Liquidity ratio: 10.00
Return on total capital [%]: 7.77
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 63.68
Liquidity ratio: 10.00
Return
on total capital [%]: 23.94
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 62.81
Liquidity ratio: 10.00
Return on total capital [%]: 46.75
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 41.03
Liquidity ratio: 2.37
Return on total capital [%]: 4.22
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.
Type
of balance sheet: Company
balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 11,375,158.57
Fixed assets
EUR 9,297.00
Tangible assets
EUR 9,297.00
Other tangible assets / fixtures and
fittings
EUR 9,297.00
Current assets
EUR 11,330,159.40
Stocks
EUR 917,918.37
Finished goods / work in progress
EUR 776,719.36
Advance payments made
EUR 141,199.01
Accounts receivable
EUR 2,241,886.15
Trade debtors
EUR 1,993,868.77
Other debtors and assets
EUR 248,017.38
Liquid means
EUR 8,170,354.88
Remaining other assets
EUR 35,702.17
Accruals (assets)
EUR 2,836.17
Deferred taxes (assets)
EUR 32,866.00
LIABILITIES EUR
11,375,158.57
Shareholders' equity
EUR 7,124,088.20
Capital
EUR 127,822.97
Subscribed capital (share capital)
EUR 127,822.97
Balance sheet profit/loss (+/-)
EUR 6,996,265.23
Profit / loss brought forward
EUR 6,115,519.84
Annual surplus / annual deficit
EUR 880,745.39
Provisions
EUR 515,841.82
Pension provisions and comparable
provisions
EUR 50,081.00
Provisions for taxes
EUR 40,185.00
Other / unspecified provisions
EUR 425,575.82
Liabilities EUR 3,735,228.55
Other liabilities
EUR 3,735,228.55
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,229,899.48
Unspecified other liabilities
EUR 505,329.07
thereof liabilities from tax /
financial authorities
EUR 366,666.87
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 25,308,639.72
Other operating income
EUR 261,418.05
Cost of materials
EUR 20,042,968.06
Raw materials and supplies, purchased
goods
EUR 20,042,968.06
Gross result (+/-)
EUR 5,527,089.71
Staff expenses
EUR 396,671.27
Wages and salaries
EUR 364,642.49
Social security contributions and
expenses
for pension plans and
benefits
EUR 32,028.78
Total depreciation
EUR 8,035.00
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 8,035.00
Other operating expenses
EUR 3,834,601.09
Operating result from continuing
operations
EUR 1,287,782.35
Interest result (+/-) EUR 39,577.04
Interest and similar income
EUR 39,684.65
Interest and similar expenses
EUR 107.61
Financial result (+/-)
EUR 39,577.04
Result from ordinary operations (+/-)
EUR 1,327,359.39
Income tax / refund of income tax (+/-)EUR -446,070.00
Other taxes / refund of taxes
EUR -544.00
Tax
(+/-)
EUR -446,614.00
Annual surplus / annual deficit
EUR 880,745.39
Type
of balance sheet: Company
balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 11,402,841.38
Fixed assets EUR 15,775.00
Tangible assets
EUR 15,775.00
Other tangible assets / fixtures and
fittings
EUR 15,775.00
Current assets EUR 11,337,346.44
Stocks
EUR 130,769.10
Finished goods / work in progress
EUR 130,769.10
Accounts receivable
EUR 1,686,636.96
Trade debtors EUR 1,060,759.75
Other debtors and assets
EUR 625,877.21
Liquid means
EUR 9,519,940.38
Remaining other assets
EUR 49,719.94
Accruals (assets)
EUR 16,281.94
Deferred taxes (assets)
EUR 33,438.00
LIABILITIES EUR 11,402,841.38
Shareholders' equity
EUR 7,443,342.81
Capital
EUR 127,822.97
Subscribed capital (share capital)
EUR 127,822.97
Balance sheet profit/loss (+/-)
EUR 7,315,519.84
Profit / loss brought forward
EUR 4,698,555.03
Annual surplus / annual deficit
EUR 2,616,964.81
Provisions
EUR 3,238,318.71
Pension provisions and comparable
provisions
EUR 53,961.00
Provisions
for taxes EUR 2,816,042.20
Other / unspecified provisions
EUR 368,315.51
Liabilities
EUR 713,486.19
Other liabilities
EUR 713,486.19
Trade creditors (for IAS incl. bills
of exchange)
EUR 686,368.12
Unspecified other liabilities
EUR 27,118.07
thereof liabilities from tax /
financial authorities EUR 27,118.07
Other liabilities
EUR 7,693.67
Deferrals (liabilities)
EUR 7,693.67
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales EUR 17,600,704.65
Other operating income
EUR 2,922,286.00
Cost of materials
EUR 14,193,441.91
Raw materials and supplies, purchased
goods EUR 14,193,441.91
Gross result (+/-)
EUR 6,329,548.74
Staff expenses
EUR 473,526.61
Wages and salaries
EUR 445,137.89
Social security contributions and
expenses for pension plans and
benefits
EUR 28,388.72
Total depreciation
EUR 97,773.02
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 9,711.39
Depreciation on current assets (+/-)
EUR 88,061.63
Other operating expenses
EUR 1,991,432.87
Operating result from continuing
operations EUR 3,766,816.24
Interest result (+/-)
EUR 105,186.77
Interest and similar income
EUR 120,951.12
Interest and similar expenses
EUR 15,764.35
Financial result (+/-)
EUR 105,186.77
Result from ordinary operations (+/-)
EUR 3,872,003.01
Income tax / refund of income tax (+/-)EUR -1,254,494.20
Other taxes / refund of taxes
EUR -544.00
Tax
(+/-)
EUR -1,255,038.20
Annual surplus / annual deficit
EUR 2,616,964.81
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.95.70 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
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.