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Report No. : |
338825 |
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Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CODELLO LIFESTYLE-ACCESSORIES GMBH |
|
|
|
|
Registered Office : |
Wildmoos 1, D 82266 Inning |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
|
Date of Incorporation : |
14.12.1979 |
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|
|
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Com. Reg. No.: |
HRB 61467 |
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|
|
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Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Manufacture of other wearing apparel
and accessories n.e.c. |
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|
|
|
No. of Employees : |
93 |
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 |
|
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 |
CODELLO
LIFESTYLE-ACCESSORIES GMBH
Company Status: activ
Wildmoos 1
D 82266 Inning
Telephone:08143/9912-0
Telefax: 08143/9912-3110
Homepage: www.codello.de
E-mail:
info@codello.de
DE128219410
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 14.12.1979
Shareholders'
agreement: 14.12.1979
Registered on: 07.02.1980
Commercial Register: Local court 80333 München
under: HRB
61467
Share capital: EUR 204,516.75
Shareholder:
Heinrich Schnabl
D 82266 Inning
born: 01.10.1943
Share: EUR 68,206.34
Shareholder:
Michael Schnabl
Brunnenweg 3
D 82229 Seefeld
born: 01.04.1976
Share: EUR 68,155.21
Shareholder:
Miriam Schnabl
Brunnenweg 3
D 82229 Seefeld
born: 22.07.1981
Share: EUR 68,155.21
Manager:
Heinrich Schnabl
D 82266 Inning
having sole power of
representation
born: 01.10.1943
Profession: Businessman
Marital status: married
Manager:
Michael Schnabl
Brunnenweg 3
D 82229 Seefeld
having sole power of
representation
born: 01.04.1976
Manager:
Miriam Schnabl
Brunnenweg 3
D 82229 Seefeld
having sole power of
representation
born: 22.07.1981
Manager:
Anneliese Schnabl
D 82266 Inning
having sole power of
representation
born: 17.09.1948
14.12.1979 - 03.01.2005 Codello GmbH
Brunnenweg 3
D 82229 Seefeld
Private limited
company
03.01.2005 - 08.03.2005 Codello Lifestyle-Accessoires GmbH
Brunnenweg 3
D 82229 Seefeld
Private limited
company
08.03.2005 - 18.03.2009 Codello Lifestyle-Accessoires GmbH
Brunnenweg 3
D 82229 Seefeld
Private limited company
18.03.2009 - 30.05.2014 Codello Lifestyle-Accessoires GmbH
Bahnhofstr. 8c
D 82229 Seefeld
Private limited
company
30.05.2014 - 17.07.2014 Codello Lifestyle-Accessoires GmbH
Wildmoos 1
D 82266 Inning
Private limited
company
Main industrial sector
14190
Manufacture of other wearing apparel and accessories n.e.c.
Payment experience: within agreed terms
Negative information:We have no negative
information at hand.
Balance sheet year: 2013
Type of ownership: Tenant
Address Wildmoos
1
D 82266 Inning
Real Estate of: Heinrich
Schnabl
Type of ownership: Proprietor
Share: 100.00 %
Address Brunnenweg
3 OT Hechendorf
D 82229 Seefeld
Type of real estate: residential and business location
Value at selling price: EUR 1,023,000.00
Land register documents were not available.
Principal bank
COMMERZBANK, 80704 MÜNCHEN
Sort. code: 70040041
BIC: COBADEFFXXX
Gross profit or loss:2013 EUR 15,161,523.00
Profit: 2013 EUR 835,400.00
Equipment: EUR 1,345,949.00
Ac/ts receivable: EUR 5,812,242.00
Liabilities: EUR 9,139,806.00
Employees:
93
-
thereof permanent staff: 93
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 43.88
Liquidity ratio: 0.92
Return on total capital [%]: 5.33
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 56.37
Liquidity ratio: 6.35
Return on total capital [%]: 12.36
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 57.21
Liquidity ratio: 10.00
Return on total capital [%]: 8.89
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 59.22
Liquidity ratio: 7.40
Return on total capital [%]: 11.77
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 15,883,270.82
Fixed assets
EUR 6,327,037.79
Intangible assets
EUR 3,849.00
Concessions, licences, rights
EUR 3,849.00
Tangible assets
EUR 6,323,187.79
Land / similar rights
EUR 1,373,521.60
Plant / machinery
EUR 195,981.00
Other tangible assets / fixtures and
fittings
EUR 1,345,949.00
Advance payments made / construction
in progress
EUR 3,407,736.19
Financial assets
EUR 1.00
Shares in participations /
subsidiaries and the like
EUR 1.00
Shares in related companies
EUR 1.00
Current assets
EUR 9,492,800.03
Stocks
EUR 2,048,310.45
Finished goods / work in progress
EUR 2,048,310.45
Accounts receivable
EUR 5,812,242.45
Trade debtors
EUR 5,191,192.14
Other debtors and assets
EUR 621,050.31
Liquid means EUR 1,632,247.13
Remaining other assets
EUR 63,433.00
Accruals (assets)
EUR 63,433.00
LIABILITIES EUR 15,883,270.82
Shareholders' equity
EUR 5,632,127.17
Capital
EUR 204,516.75
Subscribed capital (share capital)
EUR 204,516.75
Reserves
EUR 740,000.00
Capital reserves
EUR 740,000.00
Balance sheet profit/loss (+/-)
EUR 4,687,610.42
Profit / loss brought forward
EUR 3,852,210.51
Annual surplus / annual deficit
EUR 835,399.91
Provisions
EUR 1,108,539.24
Pension provisions and comparable
provisions
EUR 273,306.00
Provisions for taxes
EUR 42,985.00
Other
/ unspecified provisions EUR 792,248.24
Liabilities
EUR 9,139,806.41
Financial debts
EUR 3,250,080.36
Liabilities due to banks
EUR 3,250,080.36
Other liabilities
EUR 5,889,726.05
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,861,329.16
Liabilities from received advance
payments EUR 18,193.63
Unspecified other liabilities
EUR 2,010,203.26
thereof liabilities from tax /
financial authorities
EUR 154,316.37
Other liabilities
EUR 2,798.00
Deferrals (liabilities)
EUR 2,798.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 15,161,523.24
Staff expenses EUR 4,183,069.06
Wages and salaries
EUR 3,542,059.08
Social security contributions and
expenses for pension plans and
benefits
EUR 641,009.98
Total depreciation
EUR 628,584.25
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 628,584.25
Other operating expenses
EUR 8,993,216.82
Operating result from continuing
operations
EUR 1,356,653.11
Interest result (+/-)
EUR -169,224.31
Interest and similar income
EUR 4,705.95
Interest
and similar expenses EUR 173,930.26
Financial result (+/-)
EUR -169,224.31
Result from ordinary operations (+/-)
EUR 1,187,428.80
Income tax / refund of income tax (+/-)EUR -346,368.46
Other taxes / refund of taxes
EUR -5,660.43
Tax
(+/-)
EUR -352,028.89
Annual surplus / annual deficit
EUR 835,399.91
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 11,364,061.66
Fixed assets
EUR 1,141,352.76
Intangible assets
EUR 7,377.00
Other / unspecified intangible assetsEUR 7,377.00
Tangible assets
EUR 1,133,974.76
Land / similar rights
EUR 28,179.00
Plant / machinery
EUR 6,184.00
Other tangible assets / fixtures and
fittings
EUR 874,021.00
Advance payments made / construction
in progress
EUR 225,590.76
Financial assets
EUR 1.00
Shares in participations /
subsidiaries and the like
EUR 1.00
Shares in related companies
EUR 1.00
Current assets
EUR 10,073,897.01
Stocks
EUR 1,730,739.00
Accounts receivable
EUR 5,621,528.76
Other debtors and assets
EUR 5,621,528.76
Liquid means EUR 2,721,629.25
Remaining other assets
EUR 148,811.89
Accruals (assets)
EUR 148,811.89
LIABILITIES EUR 11,364,061.66
Shareholders' equity
EUR 5,296,727.26
Capital
EUR 204,516.75
Subscribed capital (share capital)
EUR 204,516.75
Reserves
EUR 740,000.00
Capital
reserves EUR 740,000.00
Balance sheet profit/loss (+/-)
EUR 4,352,210.51
Balance sheet profit / loss
EUR 4,352,210.51
Provisions
EUR 1,325,664.17
Liabilities
EUR 4,737,672.23
Financial debts
EUR 315.07
Liabilities due to banks
EUR 315.07
Other liabilities
EUR 4,737,357.16
Unspecified other liabilities
EUR 4,737,357.16
Other liabilities
EUR 3,998.00
Deferrals (liabilities)
EUR 3,998.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 13,404,119.07
Staff expenses
EUR 3,418,155.07
Wages and salaries
EUR 2,927,011.06
Social
security contributions and
expenses for pension plans and
benefits
EUR 491,144.01
Total depreciation
EUR 483,830.82
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 483,830.82
Other operating expenses
EUR 7,536,225.35
Operating result from continuing
operations
EUR 1,965,907.83
Result from participating interests
(+/-)
EUR 30,996.96
Expenses / income from participations EUR 30,996.96
Income from related companies
EUR 30,996.96
Interest result (+/-)
EUR -70,863.84
Interest and similar income
EUR 42,887.96
Interest and similar expenses
EUR 113,751.80
Financial result (+/-)
EUR -39,866.88
Result from ordinary operations (+/-)
EUR 1,926,040.95
Income tax / refund of income tax (+/-)EUR -520,580.91
Other taxes / refund of taxes
EUR -10,990.43
Tax
(+/-)
EUR -531,571.34
Annual surplus / annual deficit
EUR 1,394,469.61
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.