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MIRA INFORM REPORT
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Report No. : |
501596 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
COFID STAHL- HANDELSGESELLSCHAFT MBH |
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Registered Office : |
Am Vogelsang
18, D 57299 Burbach |
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Country : |
Germany |
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Financials (as on) : |
31.05.2017 |
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Date of Incorporation : |
16.05.1997 |
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Com. Reg. No.: |
HRB 4765 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of iron ores, iron, steel
and iron and steel semi-finished
goods |
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No. of Employees : |
9 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Germany |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 a large
increase in 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 economic 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. The German Government introduced a
minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.
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 2017 Germany reached a budget surplus of 0.7%. 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 during 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
largely with renewable energy, which accounted for 29.5% of gross electricity
consumption in 2016, 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. Domestic consumption,
investment, and exports are likely to drive German GDP growth in 2018, and the
country’s budget and trade surpluses are likely to remain high.
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Source
: CIA |
Note
The subject of your inquiry is a branch.
We are reporting on the headquarters.
COFID STAHL- HANDELSGESELLSCHAFT MBH
Company Status: active
Am Vogelsang 18
D 57299 Burbach
Telephone:02736/491610
Telefax:
02736/491612
Homepage: www.cofid.de
E-mail: achenbach@cofid.de
VAT
no.: DE812218089
Tax
ID number: 342/0440/5620
CONCLUSION
Business relations are permissible.
LEGAL FORM Private Limited Company
Date of foundation: 16.05.1997
Shareholders'
agreement: 16.05.1997
Registered on: 27.06.1997
Commercial Register: Local court 57072 Siegen
under: HRB 4765
Share capital: EUR 309,000.00
Shareholder:
Ralph Egmont Achenbach
Kreuzstr. 98
D 47877 Willich
born: 29.04.1959 in
Düsseldorf
Share: EUR 309,000.00
Manager:
Horst Moses
Am Vogelsang 18
D 57299 Burbach
having sole power of
representation
born: 04.10.1947
Profession: Industrial
manager
Manager:
Ralph Egmont Achenbach
Kreuzstr. 98
D 47877 Willich
having sole power of
representation
born: 29.04.1959 in
Düsseldorf
BUSINESS
ACTIVITIES
Main industrial sector
46721
Wholesale of iron ores, iron, steel and iron and steel semi-finished
goods
BRANCHES
AND FACTORIES
Branch:
COFID Stahl-
Handelsgesellschaft mbH
Siemensring 98
D 47877 Willich
TEL.: 02154/88728-0
FAX.: 02154/88728-20
FINANCIAL
INFORMATION
Payment experience: No Complaints
Negative information: We have no negative
information at hand.
Balance sheet year: 2016/2017
PMI: No significant / relevant payment
experience
information pertaining to
the company
inquired upon is shown in
the Deutscher
Debitoren Monitor
(DDMonitor).
REAL
ESTATE
Type of ownership: Tenant
Address Am Vogelsang 18
D 57299 Burbach
Real Estate of: Horst Moses
Type of ownership: Tenant
Address Am Vogelsang 18
D 57299 Burbach
Land register documents were not available.
BANKERS
COMMERZBANK VORMALS DRESDNER BANK, 40002
DÜSSELDORF
Sort. code: 30080000, Account no.: 0911025200
BIC: DRESDEFF300, IBAN: DE58300800000911025200
DZ
BANK, 60265 FRANKFURT AM MAIN
Sort. code: 50060400
BIC: GENODEFFXXX
SPARKASSE
BURBACH-NEUNKIRCHEN, 57291 BURBACH
Sort. code: 46051240, Account no.: 2485
BIC: WELADED1BUB, IBAN: DE46460512400000002485
FINANCIAL FIGURES
Turnover: 2015/2016 EUR 11,937,763.00
2016/2017 EUR 10,800,000.00
Profit: 2015/2016 EUR 334,737.00
further business figures:
Ac/ts receivable: EUR 1,191,012.00
Liabilities: EUR 1,154,689.00
Total numbers of vehicles: 2
-
Passenger cars:
2
Employees:
9
BALANCE
SHEETS
Balance
sheet ratios 01.06.2016 - 31.05.2017
Equity ratio [%]: 62.45
Liquidity ratio: 10.00
Return on total capital [%]: 3.09
Balance sheet ratios 01.06.2015 - 31.05.2016
Equity ratio [%]: 64.45
Liquidity ratio: 10.00
Return on total capital [%]: 11.23
Balance sheet ratios 01.06.2014 - 31.05.2015
Equity ratio [%]: 49.29
Liquidity ratio: 10.00
Return on total capital [%]: 10.94
Balance
sheet ratios 01.06.2013 - 31.05.2014
Equity ratio [%]: 42.20
Liquidity ratio: 1.28
Return on total capital [%]: -1.83
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: 01.06.2016 - 31.05.2017
ASSETS EUR 3,212,011.87
Fixed assets
EUR 28,970.00
Tangible assets
EUR 28,970.00
Current assets
EUR 3,158,191.72
Stocks
EUR 324,572.96
Accounts receivable
EUR 1,191,011.67
Liquid means
EUR 1,642,607.09
Remaining other assets EUR 24,850.15
Accruals (assets)
EUR 880.00
Active difference from asset
offsetting
EUR 23,970.15
LIABILITIES EUR 3,212,011.87
Shareholders' equity
EUR 1,831,909.43
Capital
EUR 309,000.00
Subscribed capital (share capital)
EUR 309,000.00
Balance sheet profit/loss (+/-) EUR 1,522,909.43
Profit / loss brought forward
EUR 1,522,909.43
Provisions
EUR 225,413.48
Liabilities
EUR 1,154,688.96
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: self-disclosure
Financial year: 01.06.2015 - 31.05.2016
ASSETS EUR 2,980,716.06
Fixed assets
EUR 36,654.00
Tangible assets
EUR 36,654.00
Other tangible assets / fixtures and
fittings
EUR 36,654.00
Current assets
EUR 2,938,166.71
Stocks
EUR 969,081.64
Finished goods / work in progress
EUR 969,081.64
Accounts receivable
EUR 962,685.03
Trade debtors
EUR 899,495.43
Other debtors and assets
EUR 63,189.60
Liquid means
EUR 1,006,400.04
Remaining other assets
EUR 5,895.35
Accruals (assets) EUR 3,100.00
Active difference from asset
offsetting
EUR 2,795.35
LIABILITIES EUR 2,980,716.06
Shareholders' equity
EUR 1,732,524.09
Capital
EUR 309,000.00
Subscribed capital (share capital)
EUR 309,000.00
Balance sheet profit/loss (+/-)
EUR 1,423,524.09
Profit / loss brought forward
EUR 1,088,787.19
Annual surplus / annual deficit
EUR 334,736.90
Provisions
EUR 219,913.19
Provisions for taxes
EUR 74,348.19
Other / unspecified provisions
EUR 145,565.00
Liabilities
EUR 1,028,278.78
Other liabilities
EUR 1,028,278.78
Trade creditors (for IAS incl. bills
of exchange)
EUR 591,203.69
Liabilities from received advance
payments
EUR 14,307.24
Unspecified other liabilities
EUR 422,767.85
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 11,937,762.84
Other operating income
EUR 36,351.83
Cost of materials
EUR 10,550,161.56
Raw materials and supplies, purchased
goods
EUR 9,975,658.52
Purchased services
EUR 574,503.04
Gross result (+/-)
EUR 1,423,953.11
Staff expenses
EUR 591,378.12
Wages and salaries
EUR 487,828.57
Social security contributions and
expenses for pension plans and
benefits
EUR 103,549.55
Total depreciation EUR 11,640.88
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 11,640.88
Other operating expenses
EUR 330,576.84
Operating result from continuing
operations
EUR 490,357.27
Interest result (+/-)
EUR 9,327.35
Interest and similar income
EUR 17,461.17
Interest and similar expenses
EUR 8,133.82
Financial result (+/-)
EUR 9,327.35
Result from ordinary operations (+/-)
EUR 499,684.62
Income tax / refund of income tax (+/-)EUR -164,748.72
Other taxes / refund of taxes
EUR -199.00
Tax
(+/-)
EUR -164,947.72
Annual surplus / annual deficit
EUR 334,736.90
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.93 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.69 |
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EUR |
1 |
INR 80.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.