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MIRA INFORM REPORT
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Report No. : |
501339 |
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Report Date : |
31.03.2018 |
IDENTIFICATION DETAILS
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Name : |
"CORFIL" HANDELSGESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG |
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Registered Office : |
Am Lunedeich 181, D 27572 Bremerhaven |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
06.01.1965 |
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Com. Reg. No.: |
HRB 1181 BHV |
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Legal Form : |
Private limited company |
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Line of Business : |
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Wholesale of other household goods ·
Other retail sale in non-specialized stores |
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No. of Employees : |
10 |
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
Report on: "Corfil" Handelsgesellschaft mit beschränkter Haftung
Company Status: active
Am Lunedeich 181
D 27572 Bremerhaven
Telephone: 0471/700570-0
Telefax: 0471/700570-20
Homepage: www.corfil.de
E-mail: info@corfil.de
VAT no.: DE114707482
Tax ID number: 75 558 10258
Company
summary
Legal Form Private limited company
Date of foundation: 06.01.1965
Registered on: 06.01.1965
Commercial Register: Local court 28195 Bremen
under: HRB 1181 BHV
Share capital: EUR 178,000.00
Shareholder:
Willy Schwenger
Barbarossastr. 3
D 73079 Süßen
born: 16.06.1935
Share: EUR 66,650.00
Shareholder:
Gerda Schwenger
Barbarossastr. 3
D 73079 Süßen
born: 22.05.1942
née: Stahl
Share: EUR 66,650.00
Shareholder:
Ralf Sengstaken
Westerbritjen 2
D 27580 Bremerhaven
born: 14.04.1966
Share: EUR 44,700.00
Manager:
Ralf Sengstaken
Westerbritjen 2
D 27580 Bremerhaven
having sole power of representation
born: 14.04.1966
COMPANY
HISTORY
company name and legal form
06.01.1965 - 05.05.2006 Corfil Handelsgesellschaft mbH
Weserstr. 159
D 27572 Bremerhaven
Private limited company
BUSINESS
ACTIVITIES
Main industrial sector
4649 Wholesale of other household goods
4719 Other retail sale in non-specialized stores
FINANCIAL
INFORMATION
Payment experience: No complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2016
REAL
ESTATE
Type of ownership: Tenant
Address Am Lunedeich 181
D 27572 Bremerhaven
Real Estate of: Willy Schwenger
Type of ownership: proprietor
Share: 100.00 %
Address Barbarossastr. 3
D 73079 Süßen
Real Estate of: Gerda Schwenger
Type of ownership: proprietor
Share: 100.00 %
Address Barbarossastr. 3
D 73079 Süßen
Land register documents were not available.
BANKERS
WESER-ELBE SPARKASSE, 27568 BREMERHAVEN
Sort. code: 29250000
BIC: BRLADE21BRS
DEUTSCHE BANK, 27568 BREMERHAVEN
Sort. code: 29070051
BIC: DEUTDEHB292
FINANCIAL
FIGURES
Profit: 2016 EUR 50,464.00
Ac/ts
receivable:
EUR 281,171.00
Liabilities: EUR 932,242.00
Employees:
10
- Trainees: 2
BALANCE
SHEETS
Balance sheet ratios
01.01.2016 - 31.12.2016
Equity ratio
[%]: 29.65
Liquidity
ratio: 0.34
Return on total
capital [%]: 4.11
Balance sheet ratios
01.01.2015 - 31.12.2015
Equity ratio
[%]: 28.87
Liquidity
ratio: 0.39
Return on total
capital [%]: -1.35
Balance sheet ratios
01.01.2014 - 31.12.2014
Equity ratio
[%]: 16.71
Liquidity
ratio: 0.28
Return on total
capital [%]: -3.85
Balance sheet ratios
01.01.2013 - 31.12.2013
Equity ratio
[%]: 28.53
Liquidity
ratio: 0.24
Return on total
capital [%]: 2.51
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 1,232,915.82
Fixed assets EUR 58,709.00
Intangible assets EUR 8,430.00
Tangible assets EUR 50,279.00
Current assets EUR 1,162,180.06
Stocks EUR 873,707.75
Accounts receivable EUR 281,170.84
Liquid means EUR 7,301.47
Remaining other
assets EUR 12,026.76
Accruals (assets) EUR 12,026.76
LIABILITIES EUR 1,232,915.82
Shareholders' equity EUR 268,523.80
Capital EUR 178,000.00
Subscribed capital
(share capital) EUR 178,000.00
Balance sheet
profit/loss (+/-) EUR 90,523.80
Profit / loss brought
forward EUR 40,059.53
Annual surplus / annual
deficit EUR 50,464.27
Provisions EUR 32,150.00
Liabilities EUR 932,242.02
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
1,088,373.98
Fixed assets EUR 60,061.00
Intangible assets EUR 10,905.00
Tangible assets EUR 49,156.00
Current assets EUR 1,025,154.21
Stocks EUR 721,605.79
Accounts receivable EUR 283,219.73
Liquid means EUR 20,328.69
Remaining other assets EUR 3,158.77
Accruals (assets) EUR 3,158.77
LIABILITIES EUR 1,088,373.98
Shareholders' equity EUR 218,059.53
Capital EUR 178,000.00
Subscribed capital
(share capital) EUR 178,000.00
Balance sheet
profit/loss (+/-) EUR 40,059.53
Profit / loss brought
forward EUR 54,709.86
Annual surplus / annual
deficit EUR -14,650.33
Provisions EUR 24,700.00
Liabilities EUR 845,614.45
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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1 |
INR 92.28 |
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Euro |
1 |
INR 80.62 |
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Euro |
1 |
INR 80.25 |
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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DIV |
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Report Prepared
by : |
SYL |
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
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Company
background and operations size
·
Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.