MIRA INFORM REPORT
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Report No. : |
332461 |
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Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
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Name : |
VOICEVALE GMBH |
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Registered Office : |
Friedrich-Ebert-Damm 111 C D 22047 Hamburg |
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Country : |
Germany |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.06.1999 |
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Com. Reg. No.: |
HRB
71935 |
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Legal Form : |
Private limited company |
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Line of Business : |
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No. of Employees : |
13 |
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 : |
Slow but correct |
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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) |
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Germany |
A1 |
A1 |
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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.
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Source
: CIA |
Company
name and address
VOICEVALE GMBH
Friedrich-Ebert-Damm
111c
D 22047
Hamburg
Telephone:040/6965260
Telefax: 040/69652620
Homepage:
www.voicevale.com
E-mail: info@voicevale.de
Company
Status
Active
CONCLUSION
Business
relations are permissible.
Company
summary
LEGAL
FORM Private limited company
Date of foundation: 09.06.1999
Shareholders'
agreement: 09.06.1999
Registered on: 28.07.1999
Commercial Register: Local court 20355 Hamburg
under:
HRB
71935
Share capital: EUR 200,000.00
Shareholder:
Voicevale Ltd.
Dove House, Arcadia
Avenue,
Finchley
GB N32JU London
Legal form: Other legal
form
Share: EUR 140,000.00
Shareholder:
Berndt Glissmann
Nydamer Weg 36a
D 22145 Hamburg
born: 01.04.1960
Share: EUR 50,000.00
Shareholder:
Andreas Warnke
D 20097 Hamburg
born: 25.01.1962
Share: EUR 10,000.00
Manager:
Berndt Glissmann
Nydamer Weg 36a
D 22145 Hamburg
having sole power of
representation
born: 01.04.1960
Profession: Businessman
Manager:
Robert Danon
D 22047 Hamburg
having sole power of
representation
born: 13.02.1956
Profession: Businessman
Proxy:
Andreas Warnke
D 20097 Hamburg
having sole power of
representation
born: 25.01.1962
Marital status: unknown
COMPANY HISTORY
28.07.1999 - 10.2005 Voicevale GmbH
Friedrich-Ebert-Damm 111b
D 22047 Hamburg
Private limited
company
11.2005 - 31.08.2010 Voicevale GmbH
Friedrich-Ebert-Damm
111a
D 22047 Hamburg
Private limited company
BUSINESS ACTIVITIES
Main industrial sector
46310
Wholesale of fruit and vegetables
46389 Wholesale of food n.e.c.
FINANCIAL INFORMATION
Payment
experience: within periods customary in this
trade
Negative information: We have no negative
information at hand.
Balance sheet year: 2013
REAL
ESTATE
Type of ownership: Tenant
Address Friedrich-Ebert-Damm 111c
D 22047 Hamburg
Land register documents were not available.
BANKERS
HSH NORDBANK HAMBURG, 20095 HAMBURG
Sort. code: 20050000
BIC: HSHNDEHH200
FINANCIAL FIGURES
Gross profit or loss:2013 EUR 2,275,619.00
Profit: 2013 EUR 435,025.00
Equipment: EUR 36,124.00
Ac/ts receivable: EUR 2,514,772.00
Liabilities: EUR 6,737,380.00
Employees: 13
BALANCE SHEETS
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 29.86
Liquidity ratio: 0.41
Return on total capital [%]: 4.55
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 31.25
Liquidity ratio: 0.47
Return on total capital [%]: 2.37
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 27.11
Liquidity ratio: 0.42
Return on total capital [%]: 5.51
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 29.25
Liquidity ratio: 0.52
Return on total capital [%]: 5.78
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
Financial year: 01.01.2013
- 31.12.2013
ASSETS EUR 9,572,568.03
Fixed assets EUR 312,555.38
Intangible assets EUR 35,431.78
Concessions, licences, rights EUR 35,431.78
Tangible assets EUR 36,123.60
Other tangible assets / fixtures and
fittings EUR 36,123.60
Financial assets EUR 241,000.00
Shares in participations /
subsidiaries and the like EUR 241,000.00
Shares in investee companies EUR 241,000.00
Current assets EUR 9,259,501.51
Stocks EUR 6,327,545.97
Finished goods / work in progress EUR
6,327,545.97
Accounts receivable EUR 2,514,771.81
thereof total due from shareholders EUR 4,653.73
Trade debtors EUR 2,284,577.65
Amounts due from related companies EUR 157.78
Other debtors and assets EUR 230,036.38
Liquid means EUR 417,183.73
Remaining other assets EUR 511.14
Accruals (assets) EUR 511.14
LIABILITIES EUR 9,572,568.03
Shareholders' equity EUR 2,604,738.52
Capital EUR 200,000.00
Subscribed capital (share capital) EUR 200,000.00
Balance sheet profit/loss (+/-) EUR 2,404,738.52
Profit / loss brought forward EUR 1,969,713.08
Annual surplus / annual deficit EUR 435,025.44
Provisions EUR 230,450.00
Other / unspecified provisions EUR 230,450.00
Liabilities EUR 6,737,379.51
thereof total due to shareholders EUR 257,071.75
Financial debts EUR 2,977,678.77
Liabilities due to banks EUR 2,977,678.77
Other liabilities EUR 3,759,700.74
Trade creditors (for IAS incl. bills
of exchange) EUR 3,448,472.93
Liabililties due to related
companiesEUR 257,071.75
Unspecified other liabilities EUR 54,156.06
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 2,275,619.32
Staff expenses EUR 756,223.85
Wages and salaries EUR 660,927.70
Social security contributions and
expenses for pension plans and
benefits EUR 95,296.15
Total depreciation EUR 28,114.58
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 28,114.58
Other operating expenses EUR 749,435.29
Operating result from continuing
operations EUR 741,845.60
Interest result (+/-) EUR -93,349.72
Interest and similar income EUR 1,611.95
Interest and similar expenses EUR 94,961.67
Financial result (+/-) EUR -93,349.72
Result from ordinary operations (+/-) EUR
648,495.88
Income tax / refund of income tax
(+/-)EUR -213,470.44
Tax (+/-)
EUR -213,470.44
Annual surplus / annual deficit EUR 435,025.44
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2012
- 31.12.2012
ASSETS EUR 8,877,643.91
Fixed assets EUR 325,784.89
Intangible assets EUR 36,609.45
Concessions, licences, rights EUR 36,609.45
Tangible assets EUR 48,175.44
Plant / machinery EUR 7,800.00
Other tangible assets / fixtures and
fittings EUR 40,375.44
Financial assets EUR 241,000.00
Shares in participations /
subsidiaries and the like EUR 241,000.00
Shares in investee companies EUR 241,000.00
Current assets EUR 8,548,806.48
Stocks EUR 5,043,386.97
Finished goods / work in progress EUR
5,043,386.97
Accounts receivable EUR 2,216,010.82
thereof total due from shareholders EUR 2,619.90
Trade debtors EUR 1,899,479.14
Amounts due from related companies EUR 2,245.41
Other debtors and assets EUR 314,286.27
Liquid means EUR 1,289,408.69
Remaining other assets EUR 3,052.54
Accruals (assets) EUR 3,052.54
LIABILITIES EUR 8,877,643.91
Shareholders' equity EUR 2,275,096.08
Capital EUR 200,000.00
Subscribed capital (share capital) EUR 200,000.00
Balance sheet profit/loss (+/-) EUR 2,075,096.08
Profit / loss brought forward EUR 1,864,331.05
Annual surplus / annual deficit EUR 210,765.03
Provisions EUR 143,700.00
Other / unspecified provisions EUR 143,700.00
Liabilities EUR 6,458,847.83
thereof total due to shareholders EUR 500,728.05
Financial debts EUR 3,755,343.61
Liabilities due to banks EUR 3,755,343.61
Other liabilities EUR 2,703,504.22
Trade creditors (for IAS incl. bills
of exchange) EUR 2,170,801.62
Liabililties due to related
companiesEUR 500,728.05
Unspecified other liabilities EUR 31,974.55
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 2,239,390.41
Staff expenses EUR 719,486.51
Wages and salaries EUR 621,964.32
Social security contributions and
expenses for pension plans and
benefits EUR 97,522.19
Total depreciation EUR 31,345.76
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 31,345.76
Other operating expenses EUR 986,871.79
Operating result from continuing
operations EUR 501,686.35
Interest result (+/-) EUR -182,724.03
Interest and similar income EUR 3,964.48
Interest and similar expenses EUR 186,688.51
Financial result (+/-) EUR -182,724.03
Result from ordinary operations (+/-) EUR
318,962.32
Income tax / refund of income tax
(+/-)EUR -108,197.29
Tax (+/-) EUR -108,197.29
Annual surplus / annual
deficit EUR 210,765.03
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
UK Pound |
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
VNT |
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.