|
Report No. : |
343772 |
|
Report Date : |
05.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
DUO FASTENERS GMBH |
|
|
|
|
Registered Office : |
Heinz-Fangman-Str. 2-4, D 42287 Wuppertal |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
21.11.2013 |
|
|
|
|
Com. Reg. No.: |
HRB 25421 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
Wholesale of Construction Materials of Mineral Sustances. |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 5.3% 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 |
DUO FASTENERS GMBH
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
Active
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
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: Slow but correct
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 680,000.00
Equipment: *EUR 36,000.00
Ac/ts receivable: EUR 434,119.00
Liabilities: EUR 1,825,013.00
Total numbers of vehicles: 2
Employees:
4
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
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.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.