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Report No. : |
325535 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
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Name : |
F. L. MICHAELIS GMBH |
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|
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Registered Office : |
Parkallee 63, D 28209 Bremen, Post Box:
10 31 22, D 28031, Bremen |
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|
|
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Country : |
Germany |
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|
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Financials (as on) : |
31.12.2013 |
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|
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Date of Incorporation : |
06.07.1982 |
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Legal Form : |
Private Limited Company |
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|
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Line of Business : |
Subject is engaged in wholesale of
coffee, tea, cocoa and spices |
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No. of Employee : |
7 |
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 |
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Status : |
Satisfactory |
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|
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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 – 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 |
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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 5.3% 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. 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 accounts for 34% of total energy consumption, 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.
|
Source
: CIA |
F. L. MICHAELIS GMBH
Company Status: active
Parkallee 63
D 28209 Bremen
Post Box:
10 31 22, D 28031 Bremen
Telephone:0421/342051
Telefax: 0421/344779
Homepage:
www.flmichaelis.de
E-mail: flmichaelis@web.de
VAT
no.: DE114422938
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 04.01.1875
Shareholders'
agreement: 16.06.1982
Registered on: 06.07.1982
Commercial Register: Local court 28195 Bremen
under: HRB 9265 HB
EUR 26,000.00
Bernd Hohn
Am Fasanenpad 26
D 28355 Bremen
born: 08.03.1956
Share: EUR 19,500.00
Shareholder:
Matthias Schülke
D 28195 Bremen
born: 04.08.1971
Share: EUR 6,500.00
Bernd Hohn
Am Fasanenpad 26
D 28355 Bremen
having sole power of
representation
born: 08.03.1956
Profession: Businessman
Marital status: married
Manager:
Matthias Schülke
D 28195 Bremen
having sole power of
representation
born: 04.08.1971
Main industrial sector
46370
Wholesale of coffee, tea, cocoa and spices
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
Type
of ownership: Tenant
Address Parkallee 63
D 28209 Bremen
Real
Estate of: Bernd Hohn
Type
of ownership: proprietor
Share: 100.00 %
Address Am Fasanenpad
D 28355 Bremen
Land
register documents were not available.
OLDENBURGISCHE LANDESBANK AG, 26016 OLDENBURG
(OLDB)
Sort. code: 28020050
BIC: OLBODEH2XXX
BANKHAUS CARL F. PLUMP & CO, 28195 BREMEN
Sort. code: 29030400
BIC: PLUMDE29XXX
Turnover: 2013 EUR 4,200,000.00
Equipment: *EUR 49,000.00
Ac/ts receivable: EUR 369,219.00
Liabilities: EUR 1,417,356.00
Employees:
7
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 [%]: 61.48
Liquidity ratio: 10.00
Return on total capital [%]: 1.46
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 63.61
Liquidity ratio: 6.30
Return
on total capital [%]: -0.54
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 59.92
Liquidity ratio: 3.03
Return on total capital [%]: 1.20
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 54.79
Liquidity ratio: 1.63
Return on total capital [%]: 5.74
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.
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 2,333,888.46
Fixed assets
EUR 584.00
Tangible assets
EUR 584.00
Current assets
EUR 2,332,050.92
Stocks
EUR 1,661,777.43
Accounts receivable EUR 369,219.29
Liquid means
EUR 301,054.20
Remaining other assets
EUR 1,253.54
Accruals (assets)
EUR 1,253.54
LIABILITIES EUR 2,333,888.46
Shareholders' equity
EUR 262,424.48
Capital
EUR 26,000.00
Subscribed capital (share capital)
EUR 26,000.00
Balance sheet profit/loss (+/-)
EUR 236,424.48
Balance sheet profit / loss
EUR 236,424.48
Provisions
EUR 654,108.00
Liabilities
EUR 1,417,355.98
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 2,542,423.14
Fixed assets
EUR 9,903.00
Tangible assets EUR 9,903.00
Other / unspecified tangible assets
EUR 9,903.00
Current assets
EUR 2,531,379.45
Stocks
EUR 1,911,786.02
Other / unspecified stocks
EUR 1,911,786.02
Accounts receivable
EUR 366,350.65
Other debtors and assets
EUR 366,350.65
Liquid means
EUR 253,242.78
Remaining other assets
EUR 1,140.69
Accruals (assets)
EUR 1,140.69
LIABILITIES EUR 2,542,423.14
Shareholders' equity
EUR 228,346.02
Capital
EUR 26,000.00
Subscribed capital (share capital)
EUR 26,000.00
Balance sheet profit/loss (+/-)
EUR 202,346.02
Balance sheet profit / loss
EUR 202,346.02
Provisions
EUR 613,756.00
Other / unspecified provisions
EUR 613,756.00
Liabilities
EUR 1,700,321.12
thereof total due to shareholders
EUR 1,388,900.00
Other liabilities
EUR 1,700,321.12
Unspecified other liabilities
EUR 1,700,321.12
Guarantees and other commitments
EUR 3,170.01
Other guarantees and other commitmentsEUR 3,170.01
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.