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MIRA
INFORM REPORT
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Report No. : |
508388 |
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Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
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Name : |
FLABOFORM GMBH |
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Registered Office : |
Industriestr. 5, D 68753 Waghäusel |
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Country : |
Germany |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
08.08.1984 |
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Com. Reg. No.: |
HRB 250551 |
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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 : |
78 |
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:
Flaboform GmbH
Company Status:
active
Industriestr. 5
D 68753 Waghäusel
Telephone: 07254/92710
Telefax: 07254/985950
Homepage: www.flaboform.de
E-mail: info@flaboform.de
VAT no.:
DE144284529
COMPANY SUMMARY
Legal Form
Private limited company
Date of foundation:
1984
Shareholders'
agreement:
05.06.1984
Registered on:
08.08.1984
Commercial Register: Local
court 68159 Mannheim
under:
HRB 250551
Share capital: EUR 1,600,000.00
Shareholder:
CEMIDE S.L.
E Madrid
Legal form: Other legal form
Share: EUR 1,600,000.00
Manager:
Begoña del Paso Rodriguez
D 69115 Heidelberg
having sole power of representation
born: 13.08.1991
Proxy:
Matthias Kreye
D 69198 Schriesheim
having sole power of representation
born: 29.01.1976
Proxy:
Pedro Julio Gomez Ruiz
E Camarma de Esteruelas
having sole power of representation
born: 13.04.1967
Nationality: Spanish
COMPANY HISTORY
company name and legal form
05.01.1994 - 1996
Flaboform-Nolte-GmbH
Industriestr. 5
D 68753 Waghäusel
Private limited company
05.06.1984 - 04.01.1994
Flaboform-Nolte-GmbH
Altwingertweg 13
D 68766 Hockenheim
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
29.10.2014 - 20.04.2018
Manager
Dirk Formella
D 40667 Meerbusch
BUSINESS ACTIVITIES
Main industrial sector
46721 Wholesale
of iron ores, iron, steel and iron and steel semi-finished goods
BRANCHES AND FACTORIES
Branch:
Flaboform GmbH
Dombühler Str. 2
D 90449 Nürnberg
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
Dombühler
Str. 2
D 90449
Nürnberg
Type of ownership:
proprietor
Share:
100.00 %
Address
Industriestr.
5
D 68753
Waghäusel
Land register documents were not available.
BANKERS
VOLKSBANK BRUHRAIN-KRAICH-HARDT, 68753 WAGHÄUSEL
Sort. code: 66391600
BIC: GENODE61ORH
COMMERZBANK, 45116 ESSEN
Sort. code: 36040039, Account no.: 153019500
BIC: COBADEFFXXX
BANKHAUS LAMPE, 33503 BIELEFELD
Sort. code: 48020151, Account no.: 1548670
BIC: LAMPDEDDXXX
SANTANDER CONSUMER BANK, 45128 ESSEN
Sort. code: 36033300
BIC: SCFBDE33XXX
FINANCIAL FIGURES
Turnover:
2016 EUR 25,837,264.00
Expected turnover: *EUR 34,000,000.00
Profit:
2016 EUR -186,922.00
Equipment:
EUR 303,642.00
Ac/ts receivable: EUR 2,752,005.00
Liabilities: EUR 13,436,767.00
Employees:
78
- thereof permanent staff: 78
The business figures marked with an asterisk are
estimates based on average values in the line of business.
BALANCE SHEETS
Balance sheet ratios 01.01.2016 - 31.12.2016
Equity ratio [%]:
27.65
Liquidity ratio: 0.25
Return on total capital [%]:
-1.24
Balance sheet ratios 01.01.2015 - 31.12.2015
Equity ratio [%]:
27.19
Liquidity ratio: 0.26
Return on total capital [%]:
-8.49
Balance sheet ratios 01.01.2014 - 31.12.2014
Equity ratio [%]:
22.68
Liquidity ratio: 0.22
Return on total capital [%]:
-7.18
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]:
27.17
Liquidity ratio: 0.21
Return on total capital [%]: 1.85
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 15,237,380.33
Fixed assets EUR
2,991,159.83
Intangible assets EUR 27,839.46
Concessions, licences,
rights EUR 53.00
Advance payments for
intang. assets EUR 27,786.46
Tangible assets EUR 2,562,820.37
Land / similar
rights EUR 2,228,627.60
Plant / machinery EUR 30,550.60
Other tangible assets /
fixtures and
fittings EUR 303,642.17
Financial assets EUR 400,500.00
Shares in
participations /
subsidiaries and the
like EUR 400,000.00
Shares in related
companies EUR 400,000.00
Securities included in
fixed assets EUR 500.00
Current assets EUR 12,204,464.13
Stocks EUR 9,226,939.41
Finished goods / work
in progress EUR 9,226,939.41
Accounts receivable EUR 2,752,004.80
Trade debtors EUR 1,995,725.01
Amounts due from
related companies EUR 277,960.45
Other debtors and
assets EUR 478,319.34
Liquid means EUR 225,519.92
Remaining other
assets EUR 41,756.37
Accruals (assets) EUR 41,756.37
LIABILITIES EUR 15,237,380.33
Shareholders' equity EUR 1,526,386.01
Capital EUR 1,600,000.00
Subscribed capital
(share capital) EUR 1,600,000.00
Reserves EUR 1,030,000.00
Capital reserves EUR 1,030,000.00
Balance sheet
profit/loss (+/-) EUR -1,103,613.99
Profit / loss brought
forward EUR -916,692.14
Annual surplus / annual
deficit EUR -186,921.85
Provisions EUR 274,227.74
Pension provisions and
comparable
provisions EUR 46,106.00
Other / unspecified
provisions EUR 228,121.74
Liabilities EUR 13,436,766.58
Financial debts EUR 9,281,293.29
Liabilities due to
banks EUR 9,281,293.29
Other liabilities EUR 4,155,473.29
Trade creditors (for
IAS incl. bills
of exchange) EUR 1,203,319.27
Liabililties due to
related companiesEUR
2,761,453.27
Unspecified other
liabilities EUR 190,700.75
thereof liabilities from tax /
financial
authorities EUR 45,713.26
thereof liabilities
from social
security EUR 1,701.32
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 25,837,264.16
Other operating
income EUR 1,166,766.20
Cost of materials EUR 19,607,753.69
Raw materials and
supplies, purchased
goods EUR 19,607,753.69
Gross result (+/-) EUR 7,396,276.67
Staff expenses EUR 3,750,878.39
Wages and salaries EUR 3,105,210.14
Social security
contributions and
expenses for pension
plans and
benefits EUR 645,668.25
Total depreciation EUR 181,382.57
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 181,382.57
Other operating
expenses EUR 2,419,373.43
Operating result from
continuing
operations EUR 1,044,642.28
Interest result
(+/-) EUR -322,092.39
Interest and similar
income EUR 17,702.10
thereof from related
companies EUR 873.21
Interest and similar
expenses EUR 339,794.49
thereof paid to related
companies EUR 54,000.00
Other financial
result EUR -908,196.60
Income from securities
and loans from
financial assets EUR 16.57
Depreciation on
financial assets and
marketable
securities EUR 908,213.17
Financial result
(+/-) EUR -1,230,288.99
Result from ordinary
operations (+/-) EUR -185,646.71
Income tax / refund of
income tax (+/-)EUR 14,580.92
Other taxes / refund of
taxes EUR -15,856.06
Tax (+/-) EUR -1,275.14
Annual surplus / annual
deficit EUR -186,921.85
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 16,341,436.67
Fixed assets EUR 3,077,071.25
Intangible assets EUR 664.75
Concessions, licences,
rights EUR 664.75
Tangible assets EUR 2,675,906.50
Land / similar
rights EUR 2,284,835.60
Plant / machinery EUR 6,179.50
Other tangible assets /
fixtures and
fittings EUR 384,891.40
Financial assets EUR 400,500.00
Shares in
participations /
subsidiaries and the
like EUR 400,000.00
Shares in related
companies EUR 400,000.00
Securities included in
fixed assets EUR 500.00
Current assets EUR 13,232,207.78
Stocks EUR 10,177,078.86
Finished goods / work
in progress EUR 10,176,378.86
Advance payments
made EUR 700.00
Accounts receivable EUR 3,042,550.19
Trade debtors EUR 2,262,197.03
Amounts due from
related companies EUR 202,109.54
Other debtors and
assets EUR 578,243.62
Liquid means EUR 12,578.73
Remaining other
assets EUR 32,157.64
Accruals (assets) EUR 32,157.64
LIABILITIES EUR 16,341,436.67
Shareholders' equity EUR 1,713,307.86
Capital EUR 1,600,000.00
Subscribed capital
(share capital) EUR 1,600,000.00
Reserves EUR 1,030,000.00
Capital reserves EUR 1,030,000.00
Balance sheet
profit/loss (+/-) EUR -916,692.14
Profit / loss brought
forward EUR 470,716.08
Annual surplus / annual
deficit EUR -1,387,408.22
Provisions EUR 160,442.59
Pension provisions and
comparable
provisions EUR 47,813.00
Other / unspecified
provisions EUR 112,629.59
Liabilities EUR 14,467,686.22
Financial debts EUR 9,625,973.61
Liabilities due to
banks EUR 9,625,973.61
Other liabilities EUR 4,841,712.61
Trade creditors (for
IAS incl. bills
of exchange) EUR 1,963,528.93
Liabililties due to
related companiesEUR
2,734,942.76
Unspecified other
liabilities EUR 143,240.92
thereof liabilities
from tax /
financial
authorities EUR 41,798.85
thereof liabilities
from social
security EUR 6,096.49
PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 23,258,956.46
Other operating
income EUR 140,624.22
Cost of materials EUR 18,581,842.39
Raw materials and
supplies, purchased
goods EUR 18,581,842.39
Gross result (+/-) EUR 4,817,738.29
Staff expenses EUR 3,329,057.47
Wages and salaries EUR 2,709,693.15
Social security
contributions and
expenses for pension
plans and
benefits EUR 619,364.32
Total depreciation EUR 201,001.09
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 201,001.09
Other operating
expenses EUR 2,262,135.07
Operating result from
continuing
operations EUR -974,455.34
Interest result
(+/-) EUR -397,109.57
Interest and similar
income EUR 13,531.15
Interest and similar
expenses EUR 410,640.72
thereof paid to related
companies EUR 24,581.36
Financial result
(+/-) EUR -397,109.57
Result from ordinary
operations (+/-) EUR -1,371,564.91
Income tax / refund of
income tax (+/-)EUR -2,400.96
Other taxes / refund of
taxes EUR -13,442.35
Tax (+/-) EUR -15,843.31
Annual surplus / annual
deficit EUR -1,387,408.22
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.22 |
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|
1 |
INR 90.88 |
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Euro |
1 |
INR 80.09 |
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Euro |
1 |
INR 80.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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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
·
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.