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Report No. : |
348876 |
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Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
RÜTEX
TEXTILHANDELSGESELLSCHAFT M.B.H. |
|
|
|
|
Registered Office : |
Rönneterring 11, D 41068 Mönchengladbach |
|
|
|
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Country : |
Germany |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
|
Date of Incorporation : |
30.08.1985 |
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|
|
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Com. Reg. No.: |
HRB 2816 |
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|
|
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Legal Form : |
Private limited company |
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|
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Line of Business : |
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|
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No. of Employees : |
18 |
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 |
|
|
|
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Payment Behaviour : |
No Complaints |
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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 |
Rütex
Textilhandelsgesellschaft m.b.H.
Rönneterring
11
D 41068
Mönchengladbach
Telephone:02161/95300
Telefax: 02161/52086
Homepage: www.ruetex.de
E-mail: info@ruetex.de
Active
DE120498819
121/5743/0437
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1985
Registered on: 30.08.1985
Commercial Register: Local court 41061 Mönchengladbach
under: HRB
2816
Share capital: EUR 545,000.00
Shareholder:
Rütters GmbH & Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as general
partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 512,300.00
Registered on: 16.07.2002
Reg. data: 41061
Mönchengladbach, HRA 3817
Shareholder:
Stefan Hüskes
Mußkamp 10
D 41334 Nettetal
born: 04.01.1966
Share: EUR 32,700.00
Manager:
Stefan Hüskes
Mußkamp 10
D 41334 Nettetal
having sole power of
representation
born: 04.01.1966
Profession: Industrial
manager
Manager:
Knut Rütters
Haiderfeldstr. 27
D 41063 Mönchengladbach
having sole power of
representation
born: 06.10.1977
Profession: Businessman
Proxy:
Ina Rütters
Parkstr. 41
D 41061 Mönchengladbach
born: 10.04.1979
Proxy:
Gerald Karl Josef
Schöndeling
Voerdenweg 8
D 47608 Geldern
having sole power of
representation
born: 25.07.1969
Further functions/participations of Stefan
Hüskes (Manager)
Limited partner:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 1,250.00
Registered
on: 24.11.2009
Reg. data:
41061 Mönchengladbach, HRA 6532
Shareholder:
K.H. Rütters
Textilvertretungsgesellschaft
mbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Share: EUR 3,450.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Manager:
K.H. Rütters
Textilvertretungsgesellschaft
mbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited company
Share capital: EUR 57,500.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Further functions/participations of Knut
Rütters (Manager)
Limited partner:
PASSION FOR FLOORS GmbH
& Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd partnership
with priv. ltd.
company as
general partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 18,750.00
Registered
on: 24.11.2009
Reg. data: 41061 Mönchengladbach, HRA 6532
Limited partner:
Rütters GmbH & Co. KG
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Ltd
partnership with priv. ltd.
company as
general partner
Total cap. EUR 25,000.00
contribution:
Share: EUR 12,500.00
Registered
on: 16.07.2002
Reg. data: 41061 Mönchengladbach, HRA 3817
Shareholder:
PASSION FOR FLOORS Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 10.11.2009
Reg. data: 41061 Mönchengladbach, HRB 13489
Shareholder:
Rütters Franzstraße
Immobilien GmbH
D 52062 Aachen
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 18,725.00
Registered
on: 29.03.2012
Reg. data: 52070 Aachen, HRB 17485
Shareholder:
Rütters Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 12,500.00
Registered
on: 03.07.2002
Reg. data: 41061 Mönchengladbach, HRB 6976
Manager:
Rütters Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 03.07.2002
Reg. data: 41061 Mönchengladbach, HRB 6976
Manager:
K.H. Rütters
Textilvertretungsgesellschaft
mbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 57,500.00
Registered
on: 23.12.1982
Reg. data: 41061 Mönchengladbach, HRB 1925
Manager:
PASSION FOR FLOORS
Verwaltungs GmbH
Rönneterring 11
D 41068 Mönchengladbach
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 10.11.2009
Reg. data: 41061 Mönchengladbach, HRB 13489
Manager:
Rütters Franzstraße
Immobilien GmbH
D 52062 Aachen
Legal form: Private limited
company
Share capital: EUR 25,000.00
Registered
on: 29.03.2012
Reg. data: 52070 Aachen, HRB 17485
Main industrial sector
46693 Wholesale of other equipment and accessories
for machinery and technical supplies
4676 Wholesale of other intermediate goods
Payment
experience: within agreed terms
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).
Type of ownership: Tenant
Address Rönneterring
11
D 41068 Mönchengladbach
Land register documents were not available.
Principal bank
COMMERZBANK, 41012 MÖNCHENGLADBACH
Sort. code: 31040015
BIC: COBADEFFXXX
Further banks
DEUTSCHE BANK, 41061 MÖNCHENGLADBACH
Sort. code: 31070001
BIC: DEUTDEDD310
BNP PARIBAS NIEDERLASSUNG DEUTSCHLAND, 60327
FRANKFURT AM MAIN
Sort. code: 37010600
BIC: GEBADE33XXX
Turnover: 2013 EUR 13,972,335.00
2014 EUR 14,500,000.00
Profit: 2013 EUR 892,580.00
further business figures:
Equipment: EUR 93,232.00
Ac/ts receivable: EUR 5,041,930.00
Liabilities: EUR 1,655,222.00
Employees: 18
- thereof permanent
staff:
18
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 74.77
Liquidity ratio: 10.00
Return on total capital [%]: 7.90
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 67.88
Liquidity ratio: 10.00
Return on total capital [%]: 11.84
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 63.06
Liquidity ratio: 10.00
Return on total capital [%]: 10.34
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 55.46
Liquidity ratio: 3.49
Return on total capital [%]: 7.59
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
Origin of the present balance sheet: electronic
German Federal Gazette
Financial year: 01.01.2013
- 31.12.2013
ASSETS EUR
11,298,198.90
Fixed assets EUR 93,307.00
Intangible assets EUR 6.00
Tangible assets EUR 93,301.00
Current assets EUR 11,199,155.82
Stocks EUR 2,375,386.27
Accounts receivable EUR 5,041,930.46
Amounts due from related
companies EUR 224,000.00
Other debtors and
assets EUR 4,817,930.46
Investments in current
assets EUR 2,501,065.51
Other investments EUR 2,501,065.51
Liquid means EUR 1,280,773.58
Remaining other
assets EUR 5,736.08
Accruals (assets) EUR 5,736.08
LIABILITIES EUR 11,298,198.90
Shareholders' equity EUR 8,447,340.22
Capital EUR 545,000.00
Subscribed capital
(share capital) EUR 545,000.00
Reserves EUR 63,934.17
Capital reserves EUR 63,934.17
Balance sheet profit/loss
(+/-) EUR 7,838,406.05
Profit / loss brought
forward EUR 6,945,826.31
Annual surplus / annual
deficit EUR 892,579.74
Provisions EUR 1,195,637.05
Liabilities EUR 1,655,221.63
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 13,972,335.37
Other operating
income EUR 771,287.88
Cost of materials EUR 11,701,892.98
Raw materials and
supplies, purchased
goods EUR 11,644,604.42
Purchased services EUR 57,288.56
Gross result (+/-) EUR 3,041,730.27
Staff expenses EUR 1,208,113.68
Wages and salaries EUR 1,060,418.72
Social security
contributions and
expenses for pension
plans and
benefits EUR 147,694.96
Total depreciation EUR 37,709.27
Depreciation on current
assets (+/-) EUR 37,709.27
Other operating
expenses EUR 961,045.08
Operating result from
continuing
operations EUR 834,862.24
Interest result (+/-) EUR 21,328.99
Interest and similar
income EUR 41,734.45
Interest and similar
expenses EUR 20,405.46
thereof paid to related
companies EUR 0.00
Other financial
result EUR 59,394.98
Income from securities
and loans from
financial assets EUR 59,394.98
Financial result
(+/-) EUR 80,723.97
Result from ordinary
operations (+/-) EUR 915,586.21
Income tax / refund of
income tax (+/-)EUR -22,258.76
Other taxes / refund of
taxes EUR -747.70
Tax (+/-) EUR -23,006.46
Annual surplus / annual
deficit EUR 892,579.75
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 11,135,527.90
Fixed assets EUR 101,445.00
Intangible assets EUR 80.00
Concessions, licences,
rights EUR 80.00
Tangible assets EUR 101,365.00
Plant / machinery EUR 1.00
Other tangible assets /
fixtures and
fittings EUR 101,364.00
Current assets EUR 11,030,199.39
Stocks EUR 1,866,560.52
Accounts receivable EUR 3,652,473.40
Investments in current
assets EUR 1,192,362.97
Liquid means EUR 4,318,802.50
Remaining other
assets EUR 3,883.51
Accruals (assets) EUR 3,883.51
LIABILITIES EUR 11,135,527.90
Shareholders' equity EUR 7,554,760.48
Capital EUR 545,000.00
Subscribed capital
(share capital) EUR 545,000.00
Reserves EUR 63,934.17
Capital reserves EUR 63,934.17
Balance sheet profit/loss
(+/-) EUR 6,945,826.31
Profit / loss brought
forward EUR 5,627,862.15
Annual surplus / annual
deficit EUR 1,317,964.16
Provisions EUR 1,789,872.65
Liabilities EUR 1,790,894.77
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Gross result (+/-) EUR 3,394,459.69
Staff expenses EUR 1,052,803.76
Wages and salaries EUR 923,079.69
Social security
contributions and
expenses for pension
plans and
benefits EUR 129,724.07
Total depreciation EUR 40,933.40
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 40,933.40
Other operating
expenses EUR 516,586.38
Operating result from
continuing
operations EUR 1,784,136.15
Interest result (+/-) EUR 127,601.84
Interest and similar
income EUR 155,383.26
Interest and similar
expenses EUR 27,781.42
Other financial
result EUR 15,745.07
Income from securities
and loans from
financial assets EUR 15,745.07
Financial result
(+/-) EUR 143,346.91
Result from ordinary
operations (+/-) EUR 1,927,483.06
Income tax / refund of
income tax (+/-)EUR -608,516.90
Other taxes / refund of
taxes EUR -1,002.00
Tax (+/-) EUR -609,518.90
Annual surplus / annual
deficit EUR 1,317,964.16
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.79 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
DPT |
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.