MIRA INFORM REPORT
|
Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOLLER-WEDEL GMBH |
|
|
|
|
Registered Office : |
Rosengarten 10 Wedel, 22880 |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
13.12.1925 |
|
|
|
|
Com. Reg. No.: |
HRB1569PI |
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
Line of Business : |
Manufacture of medical and surgical equipment and orthopaedic appliance |
|
|
|
|
No. of Employees : |
145 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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
declining 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 in 2006 and 2007 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 - and its decrease to 6.5% in 2012. GDP contracted
5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7%
in 2012 - a reflection of low investment spending due to crisis-induced
uncertainty and the decreased demand for German exports from recession-stricken
periphery countries. 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. In 2012 Germany reached a budget surplus
of 0.1%. 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. By 2014, the federal
government wants to balance its budget. 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 hopes to replace nuclear power
with renewable energy. 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.
Source
: CIA
Moller-Wedel GmbH
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||
Business
Description
|
Founded in 1864 as an optical company, Moeller-Wedel GmbH is one of
the leading manufacturers of surgical microscopes and subjective refractors worldwide.
Its products are used in the areas of ophthalmology, neurosurgery, dentistry,
and ear, nose and throat. The company’s operating microscopes are equipped
with reflex enhancers, safety filters, and motorised zoom and focus lenses.
It offers accessories, such as video modules, centering devices, adapters,
double eyepieces, light routers, and stereoscopic inverters and observers. In
addition, the company’s products are also used for several reconstructive
microsurgical procedures. It develops surgeon chairs that feature adjustable
seats and antistatic castors in a variety of base dimensions. The company
additionally provides optical test equipment for industrial applications. |
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
3310 - Manufacture of medical and surgical equipment
and orthopaedic appliances |
|
NAICS 2002: |
|
|
UK SIC 2003: |
3310 - Manufacture of medical and surgical equipment
and orthopaedic appliances |
|
UK SIC 2007: |
3250 - Manufacture of medical and dental instruments
and supplies |
|
US SIC 1987: |
Key Executives
|
1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Möller-Wedel
GmbH |
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Köniz |
Switzerland |
Medical Equipment and Supplies |
281.9 |
1,000 |
|
|
Subsidiary |
Koniz |
Switzerland |
Medical Equipment and Supplies |
293.2 |
240 |
|
|
Subsidiary |
Harlow |
United Kingdom |
Business Services |
35.9 |
154 |
|
|
Subsidiary |
Harlow |
United Kingdom |
Medical Equipment and Supplies |
10.5 |
77 |
|
|
Subsidiary |
Harlow |
United Kingdom |
Miscellaneous Fabricated Products |
19.7 |
44 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Scientific and Technical Instruments |
3.7 |
15 |
|
|
Subsidiary |
Harlow |
United Kingdom |
Medical Equipment and Supplies |
1.9 |
2 |
|
|
Subsidiary |
Harlow |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Harlow |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Harlow |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Wedel, Schleswig-Holstein |
Germany |
Medical Equipment and Supplies |
|
145 |
|
|
Subsidiary |
Wedel, Schleswig-Holstein |
Germany |
Scientific and Technical Instruments |
|
16 |
|
|
Subsidiary |
Leonberg, Baden-Württemberg |
Germany |
Software and Programming |
|
55 |
|
|
Subsidiary |
Chambery |
France |
Personal and Household Products |
12.9 |
34 |
|
|
Subsidiary |
Wedel, Schleswig-Holstein |
Germany |
Medical Equipment and Supplies |
|
30 |
|
|
Subsidiary |
Mason, OH |
United States |
Medical Equipment and Supplies |
23.8 |
20 |
|
|
Subsidiary |
Mason, OH |
United States |
Medical Equipment and Supplies |
50.0 |
100 |
|
|
Subsidiary |
Mason, OH |
United States |
Medical Equipment and Supplies |
|
20 |
|
|
Subsidiary |
Vienna |
Austria |
Medical Equipment and Supplies |
|
|
|
|
Subsidiary |
Koniz |
Switzerland |
Medical Equipment and Supplies |
|
|
Executives Report
|
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Provisions |
1.8 |
2.1 |
3.6 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
2.0 |
2.0 |
2.2 |
|
Profits for the year |
18.0 |
19.8 |
19.8 |
|
Profit brought forward from previous year(s) |
19.2 |
18.5 |
16.1 |
|
Total stockholders equity |
20.0 |
21.8 |
22.0 |
|
Provisions and allowances |
1.7 |
2.2 |
3.7 |
|
Total current liabilities |
1.7 |
3.2 |
4.3 |
|
Regularisation account |
0.0 |
0.0 |
0.0 |
|
Total liabilities (including net worth) |
23.3 |
27.1 |
30.0 |
|
Intangibles |
0.3 |
0.1 |
0.1 |
|
Total tangible fixed assets |
2.7 |
3.4 |
2.9 |
|
Total financial assets |
0.7 |
4.2 |
4.5 |
|
Total non-current assets |
3.7 |
7.7 |
7.5 |
|
Net stocks and work in progress |
12.8 |
13.0 |
13.7 |
|
Total receivables |
5.2 |
5.9 |
5.7 |
|
Cash and liquid assets |
1.6 |
0.5 |
3.1 |
|
Total current assets |
19.6 |
19.4 |
22.5 |
|
Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
|
Total assets |
23.3 |
27.1 |
30.0 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
117.20 |
61.48 |
52.20 |
|
Acid test ratio |
40.86 |
20.33 |
20.54 |
|
Total liabilities to net worth |
0.01% |
0.01% |
0.02% |
|
Net worth to total assets |
0.09% |
0.08% |
0.07% |
|
Current liabilities to net worth |
0.01% |
0.01% |
0.02% |
|
Current liabilities to stock |
0.01% |
0.02% |
0.03% |
|
Fixed assets to net worth |
0.02% |
0.04% |
0.03% |
|
Net worth |
20.0 |
21.8 |
22.0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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 and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.