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Report No. : |
349544 |
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Report Date : |
23.11.2015 |
IDENTIFICATION DETAILS
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Name : |
DUO FASTENERS GMBH |
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Registered Office : |
Heinz-Fangman-Str. 2-4, D 42287
Wuppertal |
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|
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Country : |
Germany |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
21.11.2013 |
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Com. Reg. No.: |
HRB 25421 |
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Legal Form : |
Private Limited Company |
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|
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Line of Business : |
Wholesale of Construction Materials
of Mineral Sustances. |
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No. of Employees : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
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 |
DUO
FASTENERS GMBH
Company
Status: active
Heinz-Fangman-Str. 2-4
D 42287 Wuppertal
Telephone: 0202/9747-3751
Telefax: 0202/9747-3753
Homepage: www.duo-fasteners.de
E-mail: info@duo-fasteners.de
DE292498458
Business relations are permissible.
LEGAL
FORM Private limited company
Date of foundation: 21.11.2013
Shareholders'
agreement: 21.11.2013
Registered on: 03.01.2014
Commercial Register: Local court 42103 Wuppertal
under: HRB
25421
Share capital: EUR 25,000.00
Shareholder:
Ralf Dosin
Briller Str. 97
D 42105 Wuppertal
born: 22.09.1964
Share: EUR 12,500.00
Shareholder:
Sebastian Ovenhausen
D 42287 Wuppertal
born: 11.12.1983
Share: EUR 12,500.00
Manager:
Ralf Dosin
Briller Str. 97
D 42105 Wuppertal
having sole power of
representation
born: 22.09.1964
Profession: Businessman
Marital status:
divorced
Manager:
Sebastian Ovenhausen
D 42287 Wuppertal
having sole power of
representation
born: 11.12.1983
Main industrial sector
46734
Wholesale of construction materials of mineral sustances
Payment experience: within periods customary in this trade
Negative information:We have no negative
information at hand.
Balance
sheet year: 2014
Type of ownership: Tenant
Address Heinz-Fangman-Str.
2-4
D 42287 Wuppertal
Land register documents were not available.
A
bank connection is unknown.
Turnover: 2014 *EUR 2,240,000.00
Equipment: *EUR 54,000.00
Ac/ts receivable: EUR 434,119.00
Liabilities: EUR 1,825,013.00
Total numbers of vehicles: * 2
Employees:
6
The
business figures marked with an asterisk are estimates based on average values in
the line of business.
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 3.56
Liquidity ratio: 0.25
Return on total capital [%]: -0.90
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: 01.01.2014 - 31.12.2014
ASSETS EUR 1,841,414.43
Fixed assets
EUR 6,992.00
Intangible assets
EUR 3,370.00
Tangible assets
EUR 3,622.00
Current assets
EUR 1,805,378.03
Stocks
EUR 1,363,768.70
Accounts receivable EUR 434,118.51
Liquid means
EUR 7,490.82
Remaining other assets
EUR 29,044.40
Accruals (assets)
EUR 29,044.40
LIABILITIES
EUR 1,841,414.43
Shareholders' equity
EUR 8,441.37
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance
sheet profit/loss (+/-) EUR -16,558.63
Annual surplus / annual deficit
EUR -16,558.63
Provisions
EUR 7,960.00
Liabilities
EUR 1,825,013.06
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.09 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.