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MIRA INFORM REPORT
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Report No. : |
496754 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
TM RECYCLING GMBH |
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Registered Office : |
Böternhöfen 13, D 24594 Hohenwestedt |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
25.03.2009 |
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Com. Reg. No.: |
HRB 10811 KI |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
·
Wholesale of waste and scrap ·
Freight transport by road · Activities of holding companies · Activities of head offices |
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No. of Employees : |
53 |
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.
|
Source
: CIA |
Company
name & address
TM RECYCLING GMBH
Company Status: active
Böternhöfen 13
D 24594 Hohenwestedt
Telephone:04871/70800
Telefax:
04871/7080155
Homepage: www.tm-recycling.com
E-mail:
info@tm-recycling.com
VAT
no.: DE264172100
Tax
ID number: 19 298 00558
CONCLUSION
Business relations are permissible.
LEGAL FORM Private Limited Company
Date of foundation: 25.03.2009
Begin of business
activities: 25.03.2009
Shareholders'
agreement: 25.03.2009
Registered
on: 29.05.2009
Commercial Register: Local court 24114 Kiel
under: HRB 10811 KI
Share capital: EUR 250,000.00
Shareholder:
Andreas Mensing
Dorfstr. 2
D 24790 Rade
born: 09.08.1968
Share: EUR 125,000.00
Shareholder:
Christian Mensing
Tilsiter Str. 16b
D 24539 Neumünster
born: 26.06.1972
Share: EUR 125,000.00
Manager:
Andreas Mensing
Dorfstr. 2
D 24790 Rade
having sole power
of representation
born: 09.08.1968
Profession: Businessman
Manager:
Christian Mensing
Tilsiter Str. 16b
D 24539 Neumünster
having sole power of
representation
born: 26.06.1972
Profession: Businessman
Marital status: single
Further functions/participations of Andreas
Mensing (Manager)
Proprietor:
Andreas Mensing e. K.
Dorfstr. 2
D 24594 Rade
Legal form: Sole
proprietorship
Registered
on: 04.04.2011
Reg. data: 24114 Kiel, HRA 7403 KI
Shareholder:
PFR Nord GmbH PET
Flaschen Recycling
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 100,000.00
Share: EUR 100,000.00
Registered
on: 28.09.2011
Reg. data:
24114 Kiel, HRB 13268 KI
Shareholder:
AM Verwaltungs GmbH
Dorfstr. 2
D 24594 Rade
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 21.06.2002
Reg. data: 24114 Kiel, HRB 10063 KI
Shareholder:
AFA Nord GmbH
Agrarfolienaufbereitung
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 23,500.00
Registered
on: 30.12.2009
Reg. data: 24114 Kiel, HRB 11420 KI
Shareholder:
HUAN YU International
GmbH
Leserkamp 7b
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 11,250.00
Registered
on: 14.06.2010
Reg. data: 24114 Kiel, HRB 11979 KI
Manager:
AM Verwaltungs GmbH
Dorfstr. 2
D 24594 Rade
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 21.06.2002
Reg. data: 24114 Kiel, HRB 10063 KI
Manager:
AFA Nord GmbH
Agrarfolienaufbereitung
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 30.12.2009
Reg. data: 24114 Kiel, HRB 11420 KI
Manager:
PFR Nord GmbH PET Flaschen
Recycling
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 28.09.2011
Reg. data: 24114 Kiel, HRB 13268 KI
Manager:
HUAN YU International
GmbH
Leserkamp 7b
D 24594 Hohenwestedt
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 14.06.2010
Reg. data: 24114 Kiel, HRB 11979 KI
Further functions/participations of Christian
Mensing (Manager)
Shareholder:
KGH
Kunststoffgesellschaft mbH
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 08.11.2013
Reg. data: 24114 Kiel, HRB 15276 KI
Shareholder:
AFA Nord GmbH
Agrarfolienaufbereitung
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 1,500.00
Registered
on: 30.12.2009
Reg. data: 24114 Kiel, HRB 11420 KI
Manager:
AFA Nord GmbH
Agrarfolienaufbereitung
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR
25,000.00
Registered
on: 30.12.2009
Reg. data: 24114 Kiel, HRB 11420 KI
Manager:
PFR Nord GmbH PET
Flaschen Recycling
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 100,000.00
Registered
on: 28.09.2011
Reg. data: 24114 Kiel, HRB 13268 KI
Manager:
KGH
Kunststoffgesellschaft mbH
Böternhöfen 13
D 24594 Hohenwestedt
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 08.11.2013
Reg. data: 24114 Kiel, HRB 15276 KI
COMPANY
HISTORY
company name and legal form
16.03.2010 - 28.02.2011 TM Recycling GmbH
Am Aalberg 1-4
D 24644 Loop
Private limited
company
25.03.2009 - 15.03.2010 TM Recycling GmbH
Kieler Str. 560
D 24536 Neumünster
Private limited
company
RESIGNED
ACTING PERSONS AND SHAREHOLDERS
24.02.2012 - 22.01.2016 Manager
Andreas Michael
Konopko
Hainholzweg 81
D 21077 Hamburg
BUSINESS
ACTIVITIES
Main industrial sector
46770
Wholesale of waste and scrap
49410
Freight transport by road
64200
Activities of holding companies
7010
Activities of head offices
FINANCIAL
INFORMATION
Payment experience: No Complalints
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 Böternhöfen 13
D 24594 Hohenwestedt
Real Estate of: Andreas Mensing
Type of ownership: proprietor
Share: 100.00 %
Address Dorfstr. 2
D 24790 Rade
Type of real estate: detached single-family
house
Real Estate of: Christian Mensing
Type of ownership: proprietor
Share: 100.00 %
Address Tilsiter Str. 16b
D 24539 Neumünster
Type of real estate: detached single-family
house
Land register documents were not available.
BANKERS
Principal banks
COMMERZBANK, 24100 KIEL
Sort. code: 21040010
BIC: COBADEFFXXX
SPARKASSE SÜDHOLSTEIN, 24531 NEUMÜNSTER
Sort. code: 23051030
BIC: NOLADE21SHO
FINANCIAL
FIGURES
Gross profit or loss:2016 EUR 7,169,858.00
Profit: 2016 EUR 369,030.00
Equipment: EUR 238,135.00
Ac/ts receivable: EUR 5,688,235.00
Liabilities: EUR 9,712,330.00
Employees:
53
-
thereof permanent staff: 53
BALANCE
SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]: 20.23
Liquidity ratio: 0.62
Return on total capital [%]: 3.08
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]: 24.35
Liquidity ratio: 0.87
Return on total capital [%]: 4.23
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]: 14.39
Liquidity ratio: 0.82
Return on total capital [%]: 4.42
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 24.88
Liquidity ratio: 0.81
Return on total capital [%]: 6.33
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 12,351,595.44
Fixed assets
EUR 514,793.98
Intangible assets
EUR 397.00
Other / unspecified intangible assetsEUR 397.00
Tangible assets
EUR 510,671.98
Land / similar rights
EUR 232,220.00
Plant / machinery
EUR 35,137.00
Other tangible assets / fixtures and
fittings
EUR 238,135.00
Advance payments made / construction
in progress
EUR 5,179.98
Financial assets
EUR 3,725.00
Shares in participations /
subsidiaries and the like EUR 3,725.00
Shares in investee companies
EUR 3,725.00
Current assets
EUR 11,716,759.65
Stocks
EUR 5,305,000.00
Accounts receivable EUR 5,688,234.71
Amounts due from investee companies
EUR 1,793.28
Other debtors and assets
EUR 5,686,441.43
Liquid means
EUR 723,524.94
Remaining other assets
EUR 120,041.81
Accruals (assets)
EUR 120,041.81
LIABILITIES EUR 12,351,595.44
Shareholders' equity
EUR 2,338,019.53
Capital EUR 250,000.00
Subscribed capital (share capital)
EUR 250,000.00
Balance sheet profit/loss (+/-)
EUR 2,088,019.53
Profit / loss brought forward
EUR 1,718,989.38
Annual surplus / annual deficit
EUR 369,030.15
Provisions
EUR 301,205.44
Liabilities
EUR 9,712,330.47
Financial debts
EUR 4,462,394.74
Liabilities due to banks
EUR 4,462,394.74
Other liabilities
EUR 5,249,935.73
Unspecified other liabilities
EUR 5,249,935.73
Other liabilities EUR 40.00
Deferred taxes (not included under
provisions/liabilities)
EUR 40.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 7,169,857.82
Staff expenses
EUR 2,793,405.52
Wages and salaries
EUR 2,353,104.03
Social security contributions and
expenses for pension plans and
benefits EUR 440,301.49
Total depreciation
EUR 96,318.02
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 96,318.02
Other operating expenses
EUR 3,616,856.88
Operating result from continuing
operations
EUR 663,277.40
Interest result (+/-)
EUR -113,482.78
Interest
and similar income EUR 80,463.97
Interest and similar expenses
EUR 193,946.75
Other financial result
EUR -3,775.00
Depreciation on financial assets and
marketable securities
EUR 3,775.00
Financial result (+/-)
EUR -117,257.78
Result from ordinary operations (+/-)
EUR 546,019.62
Income tax / refund of income tax (+/-)EUR -155,502.03
Other taxes / refund of taxes
EUR -21,487.44
Tax
(+/-)
EUR -176,989.47
Annual surplus / annual deficit
EUR 369,030.15
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 9,221,777.81
Fixed assets
EUR 609,061.00
Intangible assets
EUR 512.00
Other / unspecified intangible assetsEUR 512.00
Tangible assets
EUR 601,049.00
Land / similar rights
EUR 219,501.00
Plant / machinery
EUR 52,642.00
Other tangible assets / fixtures and
fittings
EUR 308,906.00
Advance payments made / construction
in progress EUR 20,000.00
Financial assets
EUR 7,500.00
Shares in participations /
subsidiaries and the like
EUR 7,500.00
Shares in investee companies
EUR 7,500.00
Current assets
EUR 8,527,377.76
Stocks
EUR 2,575,000.00
Accounts receivable
EUR 5,721,474.21
Other debtors and assets EUR 5,721,474.21
Liquid means
EUR 230,903.55
Remaining other assets
EUR 85,339.05
Accruals (assets)
EUR 85,339.05
LIABILITIES EUR 9,221,777.81
Shareholders' equity
EUR 1,968,989.38
Capital
EUR 250,000.00
Subscribed capital (share capital)
EUR 250,000.00
Balance sheet profit/loss (+/-)
EUR 1,718,989.38
Profit / loss brought forward
EUR 1,338,603.41
Annual surplus / annual deficit
EUR 380,385.97
Provisions
EUR 263,817.43
Liabilities
EUR 6,979,780.46
Financial debts
EUR 3,048,204.04
Liabilities due to banks
EUR 3,048,204.04
Other liabilities
EUR 3,931,576.42
Unspecified other liabilities
EUR 3,931,576.42
Other liabilities
EUR 9,190.54
Deferred taxes (not included under
provisions/liabilities)
EUR 9,190.54
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Gross result (+/-)
EUR 11,796,949.59
Staff expenses
EUR 2,604,372.32
Wages and salaries
EUR 2,199,279.13
Social security contributions and
expenses for pension plans and
benefits
EUR 405,093.19
Total depreciation
EUR 99,522.27
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 99,522.27
Other operating expenses
EUR 8,407,426.40
Operating result from continuing
operations EUR 685,628.60
Interest result (+/-)
EUR -112,576.54
Interest and similar income
EUR 12,174.21
Interest and similar expenses
EUR 124,750.75
Financial result (+/-)
EUR -112,576.54
Result from ordinary operations (+/-)
EUR 573,052.06
Income tax / refund of income tax (+/-)EUR -179,371.59
Other taxes / refund of taxes
EUR -13,294.50
Tax
(+/-) EUR -192,666.09
Annual surplus / annual deficit
EUR 380,385.97
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.96 |
|
|
1 |
INR 90.34 |
|
Euro |
1 |
INR 80.75 |
|
EUR |
1 |
INR 80.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
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 |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.