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MIRA INFORM REPORT
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Report No. : |
504752 |
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Report Date : |
24.04.2018 |
IDENTIFICATION DETAILS
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Name : |
EDELSTAHLSERVICE GESELLSCHAFT MBH |
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Registered Office : |
Gottlieb-Daimler-Str. 6-8, D 72172 Sulz |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
03.09.1974 |
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Com. Reg. No.: |
HRB 480309 |
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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 : |
67 |
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 : |
Regular |
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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 & address
EDELSTAHLSERVICE GESELLSCHAFT MBH
Company Status: active
Main address: Gottlieb-Daimler-Str.
6-8
D
72172 Sulz
Telephone:07454/9680-0
Telefax:
07454/9680-90
Homepage: www.edelstahlservice-sulz.de
E-mail:
info@edelstahlservice-sulz.de
Legal office: Gottlieb-Daimler-Str.
6
D 72172 Sulz
CONCLUSION
Business relations are permissible.
LEGAL FORM Private Limited Company
Date of foundation: 03.09.1974
Shareholders'
agreement: 03.09.1974
Registered on: 05.03.1975
Commercial Register: Local court 70190
Stuttgart
under: HRB 480309
Share capital: EUR 500,000.00
Shareholder:
Wolfgang Leuthe
Lochenstr. 18
D 72172 Sulz
born: 13.05.1957
Share: EUR 170,000.00
Shareholder:
Frank Leuthe
Plettenbergstr. 47
D 72172 Sulz
born: 09.10.1967
Share: EUR 170,000.00
Shareholder:
Doris Haas
D 78727 Oberndorf
born: 05.10.1955
Share: EUR 130,000.00
Shareholder:
Sven Leuthe
D 72172 Sulz
born: 15.11.1980
Share: EUR 5,000.00
Shareholder:
Tina Leuthe
D 72172 Sulz
born: 27.05.1982
Share: EUR 5,000.00
Shareholder:
Björn Leuthe
D 72172 Sulz
born: 03.10.1992
Share: EUR 5,000.00
Shareholder:
Robin Leuthe
D 78727 Oberndorf
born: 28.08.1999
Share: EUR 5,000.00
Shareholder:
Tim Luis Leuthe
D 78727 Oberndorf
born: 15.09.2004
Share: EUR 5,000.00
Shareholder:
Melanie Haas
D 72175 Dornhan
born: 08.09.1979
Share: EUR 5,000.00
Manager:
Wolfgang Leuthe
Lochenstr. 18
D 72172 Sulz
having sole power of
representation
born: 13.05.1957
Marital status: married
Manager:
Frank Leuthe
Plettenbergstr. 47
D 72172 Sulz
having sole power of
representation
born: 09.10.1967
Marital status: single
Proxy:
Peter Regitz
Im Öschle 47
D 78727 Oberndorf
authorized to jointly
represent the company
born: 14.02.1967
Profession: Businessman
Marital status: married
Proxy:
Sven Leuthe
D 72172 Sulz
having sole power of
representation
born: 15.11.1980
Further functions/participations of Wolfgang
Leuthe (Manager)
General partner:
Bauherrengemeinschaft
Heinz Leuthe, Frank
Leuthe + Wolfgang Leuthe
Gottlieb-Daimler-Str. 15
D 72172 Sulz
Legal form: Partnership
under the Civil Code
Further functions/participations of Frank
Leuthe (Manager)
General partner:
Bauherrengemeinschaft
Heinz Leuthe, Frank
Leuthe + Wolfgang Leuthe
Gottlieb-Daimler-Str. 15
D 72172 Sulz
Legal form: Partnership
under the Civil Code
BUSINESS
ACTIVITIES
Main industrial sector
46721
Wholesale of iron ores, iron, steel and iron and steel semi-finished
goods
BRANCHES
AND FACTORIES
Branch:
EDELSTAHLSERVICE
Gesellschaft mbH
Geschwister-Scholl-Str. 5
D 04552 Borna
TEL.: 03433-851865
Branch:
EDELSTAHLSERVICE Gesellschaft
mbH
Augustenstr. 10a
D 70178 Stuttgart
TEL.: 0711/617076
Branch:
EDELSTAHLSERVICE
Gesellschaft mbH
Karl-Kleppe-Str. 14
D 40474 Düsseldorf
TEL.: 0211/45888-01
FAX.: 0211/4542918
Branch:
EDELSTAHLSERVICE
Gesellschaft mbH
Tuchmacherstr. 48 b
D 14482 Potsdam
TEL.: 0331-7043700
Branch:
EDELSTAHLSERVICE
Gesellschaft mbH
An der Bahn 4
D 22844 Norderstedt
TEL.: 040/52683634
FAX.: 040/5229228
Branch:
EDELSTAHLSERVICE
Gesellschaft mbH
Gottlieb-Daimler-Str. 6
D 72172 Sulz
FINANCIAL
INFORMATION
Payment experience: Regular
Negative information: We have no negative
information at hand.
Balance sheet year: 2016
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 An der Bahn 4
D 22844 Norderstedt
Type of ownership: proprietor
Share: 100.00 %
Address Gottlieb-Daimler-Str. 6-8
D 72172 Sulz
Type of ownership: Tenant
Address Geschwister-Scholl-Str. 5
D 04552 Borna
Type of ownership: Tenant
Address Augustenstr. 10a
D 70178 Stuttgart
Type of ownership: Tenant
Address Karl-Kleppe-Str. 14
D 40474 Düsseldorf
Type of ownership: Tenant
Address Tuchmacherstr. 48 b
D 14482 Potsdam
Land
register documents were not available.
BANKERS
COMMERZBANK VORMALS DRESDNER BANK, 72232
FREUDENSTADT
Sort. code: 60080000
BIC: DRESDEFF600
DEUTSCHE BANK, 72425 ALBSTADT
Sort. code: 65370075
BIC: DEUTDESS653
FINANCIAL
FIGURES
Gross profit or loss:2016
EUR 9,241,899.00
Profit: 2016 EUR 1,754,222.00
Equipment: EUR 2,614,188.00
Ac/ts receivable: EUR 1,595,798.00
Liabilities: EUR 583,494.00
Employees:
67
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 87.98
Liquidity ratio: 10.00
Return on total capital [%]: 9.33
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 87.68
Liquidity ratio: 10.00
Return on total capital [%]: 10.86
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 88.45
Liquidity ratio: 10.00
Return on total capital [%]: 13.22
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 88.87
Liquidity ratio: 10.00
Return on total capital [%]: 16.20
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: 01.01.2016 - 31.12.2016
ASSETS EUR 19,005,010.12
Fixed
assets EUR 3,750,044.34
Intangible assets
EUR 114,220.00
Other / unspecified intangible assetsEUR 114,220.00
Tangible assets
EUR 3,635,824.34
Land / similar rights
EUR 699,438.34
Plant / machinery
EUR 321,148.00
Other tangible assets / fixtures and
fittings
EUR 2,614,188.00
Advance
payments made / construction
in progress
EUR 1,050.00
Current assets
EUR 15,082,456.10
Stocks
EUR 5,460,588.84
Other / unspecified stocks
EUR 5,460,588.84
Accounts receivable
EUR 1,595,797.85
Trade debtors
EUR 1,417,615.85
Other debtors and assets
EUR 178,182.00
Liquid means
EUR 8,026,069.41
Remaining other assets
EUR 172,509.68
Accruals (assets)
EUR 33,228.51
Deferred taxes (assets)
EUR 139,281.17
LIABILITIES EUR 19,005,010.12
Shareholders' equity
EUR 16,741,276.00
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 16,241,276.00
Profit / loss brought forward
EUR 14,487,053.53
Annual surplus / annual deficit
EUR 1,754,222.47
Provisions EUR 1,680,240.42
Other / unspecified provisions
EUR 1,680,240.42
Liabilities
EUR 583,493.70
Financial debts
EUR 11.97
Liabilities due to banks
EUR 11.97
Other liabilities
EUR 583,481.73
Liabilities due to shareholders
EUR 2,300.00
Unspecified other liabilities
EUR 581,181.73
thereof liabilities from tax /
financial authorities
EUR 92,800.00
thereof liabilities from social
security
EUR 29,400.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 9,241,899.31
Staff expenses
EUR 3,481,564.94
Wages and salaries
EUR 2,920,826.35
Social security contributions and
expenses for pension plans and
benefits
EUR 560,738.59
Total depreciation
EUR 603,978.77
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 603,978.77
Other operating expenses
EUR 2,540,204.56
Operating result from continuing
operations
EUR 2,616,151.04
Interest result (+/-) EUR -52,501.66
Interest and similar income
EUR 3,250.30
Interest and similar expenses
EUR 55,751.96
Financial result (+/-)
EUR -52,501.66
Result from ordinary operations (+/-)
EUR 2,563,649.38
Income tax / refund of income tax (+/-)EUR -804,367.44
Other taxes / refund of taxes
EUR -5,059.47
Tax
(+/-)
EUR -809,426.91
Annual
surplus / annual deficit EUR 1,754,222.47
Type
of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2015 - 31.12.2015
ASSETS EUR 17,861,691.50
Fixed assets
EUR 3,554,392.55
Intangible assets
EUR 77,340.00
Tangible assets
EUR 3,477,052.55
Land / similar rights
EUR 731,994.34
Plant / machinery
EUR 321,005.00
Other tangible assets / fixtures and
fittings
EUR 2,056,743.00
Advance payments made / construction
in progress
EUR 367,310.21
Current assets
EUR 14,093,080.72
Stocks
EUR 5,039,790.18
Accounts
receivable EUR 1,591,375.84
Liquid means
EUR 7,461,914.70
Remaining other assets
EUR 214,218.23
Accruals (assets)
EUR 51,925.77
Deferred taxes (assets)
EUR 162,292.46
LIABILITIES EUR 17,861,691.50
Shareholders' equity
EUR 15,687,053.53
Capital
EUR 500,000.00
Subscribed capital (share capital)
EUR 500,000.00
Balance sheet profit/loss (+/-)
EUR 15,187,053.53
Profit / loss brought forward
EUR 13,270,406.28
Annual surplus / annual deficit
EUR 1,916,647.25
Provisions
EUR 1,456,026.31
Liabilities
EUR 718,611.66
Other liabilities
EUR 718,611.66
Unspecified other liabilities
EUR 718,611.66
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 9,449,613.56
Staff expenses
EUR 3,725,264.27
Wages and salaries
EUR 2,966,025.00
Social security contributions and
expenses for pension plans and
benefits
EUR 759,239.27
Total depreciation
EUR 455,416.21
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 455,416.21
Other operating expenses
EUR 2,530,734.29
Operating result from continuing
operations
EUR 2,738,198.79
Interest result (+/-)
EUR -42,841.73
Interest and similar income
EUR 6,775.83
Interest and similar expenses
EUR 49,617.56
Financial result (+/-)
EUR -42,841.73
Result from ordinary operations (+/-)
EUR 2,695,357.06
Income tax / refund of income tax (+/-)EUR -773,910.34
Other taxes / refund of taxes
EUR -4,799.47
Tax
(+/-)
EUR -778,709.81
Annual surplus / annual deficit
EUR 1,916,647.25
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.22 |
|
|
1 |
INR 92.84 |
|
Euro |
1 |
INR 81.27 |
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EUR |
1 |
INR 81.06 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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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 |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
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.