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MIRA INFORM REPORT
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Report No. : |
512193 |
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Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ARMACON
- SYSTEMS GMBH |
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Registered Office : |
Hansapark
1D 39116 Magdeburg |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
03.03.2004 |
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Com. Reg. No.: |
HRB 114479 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in Manufacture of taps and valves n.e.c. |
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No. of Employees : |
15 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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
ARMACON
- SYSTEMS GMBH
Company
Status: active
Hansapark 1
D 39116 Magdeburg
Telephone:0391/244625-10
Telefax:
0391/244625-11
Homepage: www.armacon-systems.de
E-mail:
info@armacon-systems.de
VAT
no.: DE237919303
LEGAL
FORM Private limited company
Date
of foundation: 03.03.2004
Shareholders'
agreement: 03.03.2004
Registered
on: 16.09.2004
Commercial
Register: Local court 39576 Stendal
under: HRB
114479
Share
capital:
EUR 25,000.00
Shareholder:
PeWe Immobilienverwaltungs
UG
(haftungsbeschränkt) & Co. KG
Rautenbreite 6
D 39116 Magdeburg
Legal form: Ltd.partners.
w.entrepreneur
comp.(ltd.liability)gen.partner
Total cap. EUR 1,000.00
contribution:
Share: EUR 24,000.00
Registered on: 11.08.2014
Reg. data: 39576 Stendal,
HRA 4424
Shareholder:
Tim Wenig
Ganghoferstr. 10
D 39108 Magdeburg
born: 09.05.1982
Share: EUR 1,000.00
Manager:
Petra Wenig
Rautenbreite 4
D 39116 Magdeburg
having sole power of
representation
born: 17.11.1958
née: Kleiber
Profession: graduate
engineer
Marital status: married
Proxy:
Frank Wenig
Rautenbreite 4
D 39116 Magdeburg
having sole power of
representation
born: 14.04.1958
Profession: graduate
engineer
Marital status: married
Further
functions/participations of Petra Wenig (Manager)
Limited
partner:
PeWe Immobilienverwaltungs
UG
(haftungsbeschränkt) &
Co. KG
Rautenbreite 6
D 39116 Magdeburg
Legal form: Ltd.partners.
w.entrepreneur
comp.(ltd.liability)gen.partner
Total cap. EUR 1,000.00
contribution:
Share: EUR 1,000.00
Registered
on: 11.08.2014
Reg. data: 39576 Stendal, HRA 4424
Shareholder:
DOPS UG
(haftungsbeschränkt)
Rautenbreite 6
D 39116 Magdeburg
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR 1,000.00
Share: EUR 1,000.00
Registered
on: 23.06.2014
Reg. data: 39576 Stendal, HRB 20770
Manager:
DOPS UG
(haftungsbeschränkt)
Rautenbreite 6
D 39116 Magdeburg
Legal form: Entrepreneur
Company (limited
liability)
Share capital: EUR 1,000.00
Registered
on: 23.06.2014
Reg. data: 39576 Stendal, HRB 20770
BUSINESS
ACTIVITIES
Main
industrial sector
28140 Manufacture of taps and valves n.e.c.
Secondary
industrial sector
6209 Other information technology service
activities
Payment
experience: No Complaints
Negative
information: We have no
negative information at hand.
Balance
sheet year: 2015
PMI: present: 100
16.05.2018
Ø 6 months:100
Events
Index: 2
At present, the following
events are known:
Event: When:
Relatively high number
of last 180 days
inquiries (7)
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: Tenant
Address Hansapark 1
D 39116 Magdeburg
Type
of ownership: Tenant
Address Rautenbreite 6
D 39116 Magdeburg
Land
register documents were not available.
BANKERS
NORDDEUTSCHE
LANDESBANK GIROZENTRALE, 39011 MAGDEBURG
Sort.
code: 25050000
BIC:
NOLADE2HXXX
COMMERZBANK,
39001 MAGDEBURG
Sort.
code: 81040000
BIC:
COBADEFFXXX
VOLKSBANK
BÖRDE-BERNBURG, 39164 WANZLEBEN-BÖRDE
Sort.
code: 81069052
BIC:
GENODEF1WZL
FINANCIAL
FIGURES
Equipment: EUR 292,176.00
Ac/ts
receivable:
EUR 2,189,483.00
Liabilities: EUR 7,329,462.00
Employees:
15
BALANCE
SHEETS
Balance
sheet ratios 01.01.2015 - 31.12.2015
Equity
ratio [%]: 0.21
Liquidity
ratio: 0.49
Return
on total capital [%]: -0.50
Balance
sheet ratios 01.01.2014 - 31.12.2014
Equity
ratio [%]: 1.21
Liquidity
ratio: 0.70
Return
on total capital [%]: 8.01
Balance
sheet ratios 01.01.2013 - 31.12.2013
Equity
ratio [%]: 0.76
Liquidity
ratio: 0.21
Return
on total capital [%]: 0.17
Balance
sheet ratios 01.01.2012 - 31.12.2012
Equity
ratio [%]: 17.16
Liquidity
ratio: 1.67
Return
on total capital [%]: 14.58
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: 01.01.2015 - 31.12.2015
ASSETS EUR 7,644,451.51
Fixed assets EUR 1,482,524.29
Intangible assets EUR 92,264.00
Concessions, licences, rights EUR 92,264.00
Tangible assets EUR 1,390,260.29
Land / similar rights EUR 605,073.23
Plant / machinery EUR 418,983.00
Other tangible assets / fixtures and
fittings EUR 293,048.00
Advance payments made / construction
in progress EUR 73,156.06
Current assets EUR 6,148,734.75
Stocks EUR 1,239,943.15
Accounts receivable EUR
2,593,193.06
Other debtors and assets EUR 2,593,193.06
Liquid means EUR 2,315,598.54
Remaining other assets EUR 13,192.47
Accruals (assets) EUR 3,941.00
Deferred taxes (assets) EUR 9,251.47
LIABILITIES EUR 7,644,451.51
Shareholders' equity EUR 167,248.10
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Balance sheet profit/loss (+/-) EUR 142,248.10
Balance sheet profit / loss EUR 142,248.10
Provisions
EUR 144,473.37
Liabilities EUR 7,332,730.04
Other liabilities EUR 7,332,730.04
Unspecified other liabilities EUR 7,332,730.04
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 1,920,769.71
Staff expenses EUR 728,590.72
Wages and salaries EUR 625,426.31
Social security contributions and
expenses for pension plans and
benefits EUR 103,164.41
Total depreciation EUR 341,389.88
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 341,389.88
Other operating expenses EUR 817,253.70
Operating result from continuing
operations EUR 33,535.41
Interest result (+/-) EUR 30,060.68
Interest and similar income EUR 39,015.45
Interest and similar expenses EUR 8,954.77
Financial result (+/-) EUR 30,060.68
Result from ordinary operations (+/-) EUR 63,596.09
Income tax / refund of income tax
(+/-)EUR -78,714.98
Other taxes / refund of taxes EUR -22,400.88
Tax (+/-) EUR
-101,115.86
Annual surplus / annual deficit EUR -37,519.77
Type
of balance
sheet: Company balance sheet
Origin
of the present
balance
sheet: electronic German Federal
Gazette
Financial
year: 01.01.2014 - 31.12.2014
ASSETS EUR 7,525,653.61
Fixed assets EUR 1,428,723.65
Intangible assets EUR 6,686.00
Concessions, licences, rights EUR 6,686.00
Tangible assets EUR 1,422,037.65
Land / similar rights EUR 620,628.23
Plant / machinery EUR 445,419.00
Other tangible assets / fixtures and
fittings EUR 315,500.00
Advance payments made / construction
in progress EUR 40,490.42
Current assets EUR 6,010,847.65
Stocks EUR 5,736.12
Accounts receivable EUR 2,644,038.10
Other debtors and assets EUR 2,644,038.10
Liquid means EUR 3,361,073.43
Remaining other assets EUR 86,082.31
Accruals (assets) EUR 40,242.96
Deferred taxes (assets) EUR 45,839.35
LIABILITIES EUR 7,525,653.61
Shareholders' equity EUR 204,767.87
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Balance sheet profit/loss (+/-) EUR 179,767.87
Profit / loss brought forward EUR 178,136.23
Annual surplus / annual deficit EUR 1,631.64
Provisions EUR 305,161.50
Liabilities EUR 7,015,552.43
Financial debts EUR 14.70
Liabilities due to banks EUR 14.70
Other liabilities EUR 7,015,537.73
Unspecified other liabilities EUR 7,015,537.73
Other liabilities EUR 171.81
Deferrals (liabilities) EUR 171.81
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-) EUR 8,690,556.48
Staff expenses EUR 787,995.75
Wages and salaries EUR 694,666.22
Social security contributions and
expenses for pension plans and
benefits EUR 93,329.53
Total depreciation EUR 291,196.03
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 291,196.03
Other operating expenses EUR 6,795,105.47
Operating result from continuing
operations EUR 816,259.23
Interest result (+/-) EUR -183,539.42
Interest and similar income EUR 18,877.50
Interest and similar expenses EUR 202,416.92
Financial result (+/-) EUR -183,539.42
Result from ordinary operations (+/-) EUR
632,719.81
Extraordinary expenses EUR 592,000.00
Extraordinary result (+/-) EUR -592,000.00
Income tax / refund of income tax
(+/-)EUR -13,912.14
Other taxes / refund of taxes EUR -25,176.03
Tax (+/-) EUR -39,088.17
Annual surplus / annual deficit EUR 1,631.64
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.45 |
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1 |
INR 89.79 |
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Euro |
1 |
INR 78.79 |
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Euro |
1 |
INR 78.45 |
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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PRI |
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Report Prepared
by : |
DNS |
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.