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MIRA INFORM REPORT
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Report No. : |
503869 |
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Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
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Name : |
VEB FÜRSTENWALD GMBH |
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Registered Office : |
Am Bremsberg 12, D 34292 Ahnatal |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
24.10.2003 |
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Com. Reg. No.: |
HRB 13402 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Retail Sale of Paints and Building Materials. · Activities of Holding Companies |
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No. of Employees : |
Not Available |
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 : |
Satisfactory |
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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 |
Company name and address
VEB FÜRSTENWALD GMBH
Company Status: Active
Am Bremsberg 12
D 34292 Ahnatal
Telephone:05609/809460
Telefax: 05609/809462
Homepage: www.veb-fuerstenwald.de
E-mail: info@veb-fuerstenwald.de
Tax ID number
026 247 51122
Company Summary
LEGAL FORM Private limited company
Date of foundation: 24.10.2003
Begin of business
activities: 24.10.2003
Shareholders'
agreement: 24.10.2003
Registered on: 09.12.2003
Commercial Register: Local court 34117 Kassel
under: HRB 13402
Share capital
EUR 26,000.00
Shareholder:
Andreas Schmale
Am Bremsberg 12
D 34292 Ahnatal
born: 27.05.1962
Share: EUR 26,000.00
Manager:
Andreas Schmale
Am Bremsberg 12
D 34292 Ahnatal
having sole power of representation
born: 27.05.1962
Profession: Fully qualified management
expert
Marital status: married
Further functions/participations of Andreas Schmale (Manager)
Limited partner:
B & S Bauer & Schmale
Grundstücksgesellschaft mbH & Co. KG
Innerstetal 8
D 38685 Langelsheim
Legal form: Ltd partnership with priv. ltd.
company as general partner
Total cap. EUR 25,564.59
contribution:
Share: EUR 12,782.30
Registered
on: 27.08.1999
Reg. data: 38100 Braunschweig, HRA 110803
Shareholder:
bbL Beton GmbH
Innerstetal 8
D 38685 Langelsheim
Legal form: Private limited company
Share capital: EUR 50,000.00
Share: EUR 25,000.00
Registered
on: 09.02.1999
Reg. data: 38100 Braunschweig, HRB 111003
Shareholder:
B & S Bauer & Schmale GmbH
Innerstetal 8
D 38685 Langelsheim
Legal form: Private limited company
Share capital: EUR 25,564.60
Share: EUR 12,782.30
Registered
on: 11.01.1999
Reg. data: 38100 Braunschweig, HRB 111001
Manager:
bbL Beton GmbH
Innerstetal 8
D 38685 Langelsheim
Legal form: Private limited company
Share capital: EUR 50,000.00
Registered
on: 09.02.1999
Reg. data: 38100 Braunschweig, HRB 111003
Manager:
B & S Bauer & Schmale GmbH
Innerstetal 8
D 38685 Langelsheim
Legal form: Private limited company
Share capital: EUR 25,564.60
Registered
on: 11.01.1999
Reg. data: 38100 Braunschweig, HRB 111001
BUSINESS ACTIVITIES
Main industrial sector
47523 Retail sale of paints and building materials
6420 Activities of holding companies
FINANCIAL INFORMATION
Payment experience: within periods customary in this trade
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL ESTATE
Type of ownership: Tenant
Address Am Bremsberg 12
D 34292 Ahnatal
Land register documents were not available.
BANKERS
Principal bank
RAIFFEISENBANK, 34292 AHNATAL
Sort. code: 52063550
BIC: GENODEF1WOH
FINANCIAL FIGURES
Liabilities: EUR 42,622.00
The number of employees is not known.
BALANCE SHEETS
Balance sheet ratios
01.01.2016 - 31.12.2016(1)
Equity ratio
[%]: 86.65
Liquidity
ratio: 10.00
Return on total
capital [%]: 6.83
Balance sheet ratios
01.01.2015 - 31.12.2015(1)
Equity ratio
[%]: 85.33
Liquidity
ratio: 10.00
Return on total
capital [%]: 12.78
Balance sheet ratios
01.01.2014 - 31.12.2014(1)
Equity ratio
[%]: 88.57
Liquidity
ratio: 10.00
Return on total
capital [%]: 14.47
Balance sheet ratios
01.01.2013 - 31.12.2013(1)
Equity ratio
[%]: 84.81
Liquidity
ratio: 10.00
Return on total
capital [%]: 11.27
(1) The depth of balance sheet suggests that the company, as a so-called micro-entity in accordance with art. 267a German Commercial Code, has availed itself of the facilitations of the German Micro-Entities Amending Account Law (MicBilG) This is why it is possible that the resultant reduction of the depth of presentation in the annual accounts may entail deviating calculation methods of the respective balance sheet ratios and thus to an altered Solvency Rating [NG] and/or balance sheet grade.
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: micro balance sheet
Origin of the
present
balance sheet: Other
Financial year: 01.01.2016 - 31.12.2016 (2)
ASSETS EUR 723,677.92
Fixed assets EUR 135,844.00
Current assets EUR 587,833.92
LIABILITIES EUR 723,677.92
Shareholders' equity EUR 627,032.06
Provisions EUR 54,023.99
Liabilities EUR 42,621.87
Type of balance
sheet: micro balance sheet
Origin of the
present
balance sheet: Other
Financial year: 01.01.2015 - 31.12.2015 (2)
ASSETS EUR 676,901.23
Fixed assets EUR 141,980.00
Current assets EUR 534,921.23
LIABILITIES EUR 676,901.23
Shareholders' equity EUR 577,629.92
Provisions EUR 60,652.55
Liabilities EUR 38,618.76
(2) The abbreviated depth of presentation of the annual accounts may be atributed to application of regulations within the German Micro-Entities Amending Accounting Law.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.22 |
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1 |
INR 92.77 |
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Euro |
1 |
INR 80.34 |
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EUR |
1 |
INR 80.51 |
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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NIS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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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.