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MIRA INFORM REPORT
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Report No. : |
493884 |
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Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GFR GESELLSCHAFT FÜR RECYCLING MBH |
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Registered Office : |
Siebenstücken 10, D 24558
Henstedt-Ulzburg |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
09.09.1992 |
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Com. Reg. No.: |
HRB 9492 KI |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
· Recovery of sorted materials · Wholesale of waste and scrap ·
Non-specialized wholesale of raw
materials and half-finished and
finished goods ·
Freight transport by road |
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No. of Employees : |
19 |
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 : |
Slow but correct |
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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 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, bolstered by low energy prices and a weak
euro, and exports are likely to drive German GDP growth again in 2018.
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Source
: CIA |
Company
name & address
GFR GESELLSCHAFT FÜR RECYCLING MBH
Company Status: active
Siebenstücken 10
D 24558 Henstedt-Ulzburg
Telephone:04193/88209-10
Telefax:
04193/88209-11
Homepage: www.gfr-recycling.de
E-mail:
info@gfr-recycling.de
VAT
no.: DE811265352
CONCLUSION
Business relations are permissible.
LEGAL FORM Private Limited Company
Date of foundation: 09.09.1992
Begin of business
activities: 09.09.1992
Shareholders'
agreement: 09.09.1992
Registered on: 09.09.1992
Commercial Register: Local court 24114 Kiel
under: HRB 9492 KI
Share capital: EUR 127,000.00
Shareholder:
Udo Stehr
D 24558 Henstedt-Ulzburg
born: 15.09.1960
Share: EUR 63,500.00
Shareholder:
Steve Wong
N.21 3rd Street
RC - Hon Kong
born: 13.10.1957
Share: EUR 63,500.00
Manager:
Udo Stehr
D 24558 Henstedt-Ulzburg
having sole power of
representation
born: 15.09.1960
Profession: Businessman
Marital status: married
Proxy:
Gunnar Bindseil
D 20095 Hamburg
having sole power of representation
born: 24.01.1967
Further functions/participations of Udo Stehr
(Manager)
Manager:
GFR Entsorgung GmbH
Siebenstücken 10
D 24558 Henstedt-Ulzburg
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 02.06.2010
Reg. data: 24114 Kiel, HRB 11957 KI
COMPANY
HISTORY
company name and legal form
05.07.2000 - 18.12.2007 GFR Gesellschaft für Recycling mbH
Kollaustr. 105
D 22453 Hamburg
Private limited
company
30.11.1999 - 05.07.2000 GFR Gesellschaft für Recycling mbH
Süderstr. 234-241
D 20537 Hamburg
Private limited
company
18.08.1998 - 10.09.1998 GFR Gesellschaft für Interrecycling mbH
Süderstr.
234-241
D 20537 Hamburg
Private limited
company
24.05.1993 - 09.04.1998 RGH Gesellschaft für Interrecycling mbH
Lederstr. 66
D 22525 Hamburg
Private limited
company
RESIGNED
ACTING PERSONS AND SHAREHOLDERS
27.12.2007 - 07.10.2016 Manager
Steve Wong
N.21 3rd Street
RC - Hon Kong
BUSINESS
ACTIVITIES
Main industrial sector
38320
Recovery of sorted materials
46770
Wholesale of waste and scrap
46902
Non-specialized wholesale of raw materials and half-finished and finished goods
49410
Freight transport by road
BRANCHES
AND FACTORIES
Works:
GFR Gesellschaft für
Recycling mbH
Woltorfer Str. 77c
D 31224 Peine
TEL.: 05171/2948418
FAX.: 05171/2848431
PARTICIPATIONS
Shareholder:
GFR Entsorgung GmbH
Siebenstücken 10
D 24558 Henstedt-Ulzburg
Legal form: Private
limited company
Company Status: active
Share capital: EUR 50,000.00
Share: EUR 35,000.00
Reg. data: 02.06.2010
Local court
24114 Kiel
HRB 11957 KI
FINANCIAL
INFORMATION
Payment experience: Slow but correct
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).
Events Index: 1
At present, NO events are
known.
The Events Index indicates
if any particular
events have occurred,
such as e.g. a
relocation of registered
office or a change
within management. On the
basis of number,
relevance and
up-to-dateness of the events
an index value ranging
from 1 (no events) to
5 is calculated.
Companies showing a
particularly large number
of events receive
the index 6.
REAL ESTATE
Type of ownership: proprietor
Share: 100.00 %
Address Siebenstücken 10
D 24558 Henstedt-Ulzburg
Land register documents were not available.
BANKERS
Principal bank
M.M.WARBURG & CO, 20095 HAMBURG
Sort. code: 20120100, Account no.: 268348
BIC: WBWCDEHHXXX, IBAN: DE45201201000000268348
Further bank
UNICREDIT BANK - HYPOVEREINSBANK, 20454
HAMBURG
Sort. code: 20030000
BIC: HYVEDEMM300
FINANCIAL
FIGURES
Gross profit or loss:2016 EUR 2,163,642.00
2017 EUR 2,200,000.00
Profit: 2016 EUR -249,421.00
further business figures:
Equipment: EUR 115,651.00
Ac/ts receivable: EUR 1,334,841.00
Liabilities: EUR 3,232,705.00
Employees:
19
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 50.19
Liquidity ratio: 0.44
Return on total capital [%]: -3.78
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 48.07
Liquidity ratio: 0.41
Return on total capital [%]: -1.03
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 42.61
Liquidity ratio: 0.51
Return on total capital [%]: 1.99
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 39.38
Liquidity ratio: 0.41
Return on total capital [%]: 0.89
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 6,612,359.42
Fixed assets
EUR 4,193,905.00
Intangible assets
EUR 11,740.00
Other / unspecified intangible assetsEUR 11,740.00
Tangible assets
EUR 4,147,165.00
Land / similar rights
EUR 3,627,360.00
Plant / machinery
EUR 404,154.00
Other tangible assets / fixtures and
fittings
EUR 115,651.00
Financial assets
EUR 35,000.00
Shares in participations /
subsidiaries and the like
EUR 35,000.00
Shares in related companies
EUR 35,000.00
Current assets
EUR 2,386,103.01
Stocks
EUR 864,232.93
Accounts receivable EUR 1,334,841.07
Amounts due from related companies
EUR 13,581.68
Other debtors and assets
EUR 1,321,259.39
Liquid means
EUR 187,029.01
Remaining other assets
EUR 32,351.41
Accruals (assets)
EUR 32,351.41
LIABILITIES EUR 6,612,359.42
Shareholders' equity
EUR 3,321,611.80
Capital
EUR 127,000.00
Subscribed capital (share capital)
EUR 127,000.00
Balance sheet profit/loss (+/-)
EUR 3,194,611.80
Balance sheet profit / loss
EUR 3,194,611.80
Provisions
EUR 55,610.20
Liabilities
EUR 3,232,704.59
Financial debts
EUR 1,840,525.70
Liabilities due to banks
EUR 1,840,525.70
Other liabilities
EUR 1,392,178.89
Liabililties due to related companiesEUR 12,195.61
Unspecified other liabilities
EUR 1,379,983.28
Other liabilities
EUR 2,432.83
Deferred taxes (not included under
provisions/liabilities)
EUR 2,432.83
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 2,163,642.12
Staff expenses
EUR 1,267,815.42
Wages and salaries
EUR 1,049,444.12
Social security contributions and
expenses for pension plans and
benefits EUR 218,371.30
Total depreciation
EUR 308,397.62
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 308,397.62
Other
operating expenses EUR 765,394.12
Operating result from continuing
operations
EUR -177,965.04
Interest result (+/-)
EUR -63,336.16
Interest and similar income
EUR 1,234.31
Interest and similar expenses
EUR 64,570.47
Financial result (+/-)
EUR -63,336.16
Result from ordinary operations (+/-)
EUR -241,301.20
Income tax / refund of income tax (+/-)EUR 524.16
Other taxes / refund of taxes
EUR -8,643.66
Tax
(+/-)
EUR -8,119.50
Annual surplus / annual deficit
EUR -249,420.70
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 7,424,798.16
Fixed assets
EUR 4,771,747.80
Intangible assets
EUR 7,310.00
Other / unspecified intangible assetsEUR 7,310.00
Tangible assets
EUR 4,729,437.80
Land / similar rights
EUR 4,087,119.80
Plant / machinery
EUR 476,251.00
Other tangible assets / fixtures and
fittings
EUR 166,067.00
Financial assets EUR 35,000.00
Shares in participations /
subsidiaries and the like
EUR 35,000.00
Shares in related companies
EUR 35,000.00
Current assets EUR 2,611,217.41
Stocks
EUR 968,239.54
Accounts receivable
EUR 1,457,252.30
Amounts due from related companies
EUR 59,505.42
Other debtors and assets
EUR 1,397,746.88
Liquid means
EUR 185,725.57
Remaining other assets
EUR 41,832.95
Accruals (assets)
EUR 41,832.95
LIABILITIES EUR 7,424,798.16
Shareholders' equity
EUR 3,571,032.50
Capital
EUR 127,000.00
Subscribed capital (share capital)
EUR 127,000.00
Balance sheet profit/loss (+/-)
EUR 3,444,032.50
Balance sheet profit / loss
EUR 3,444,032.50
Provisions
EUR 78,374.66
Liabilities
EUR 3,772,434.52
Financial debts
EUR 2,339,890.77
Liabilities due to banks
EUR 2,339,890.77
Other liabilities
EUR 1,432,543.75
Liabililties due to related companiesEUR 16,888.26
Unspecified other liabilities
EUR 1,415,655.49
Other liabilities
EUR 2,956.48
Deferred taxes (not included under
provisions/liabilities)
EUR 2,956.48
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 2,525,359.86
Staff expenses
EUR 1,421,332.29
Wages and salaries EUR 1,176,750.31
Social security contributions and
expenses for pension plans and
benefits
EUR 244,581.98
Total depreciation
EUR 316,859.51
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 316,859.51
Other operating expenses
EUR 793,972.31
Operating result from continuing
operations EUR -6,804.25
Interest result (+/-)
EUR -68,845.58
Interest and similar income
EUR 2,563.59
Interest and similar expenses
EUR 71,409.17
Financial result (+/-) EUR -68,845.58
Result from ordinary operations (+/-)
EUR -75,649.83
Income tax / refund of income tax (+/-)EUR 8,375.98
Other taxes / refund of taxes
EUR -9,183.41
Tax
(+/-)
EUR -807.43
Annual surplus / annual deficit
EUR -76,457.26
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.82 |
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|
1 |
INR 90.65 |
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Euro |
1 |
INR 79.94 |
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EUR |
1 |
INR 79.96 |
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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PRA |
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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.