MIRA
INFORM REPORT
|
Report Date : |
24.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
WOOLWORTH GMBH |
|
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|
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Registered Office : |
Formerstr. 6 D 59425 Unna |
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|
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Country : |
Germany |
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|
|
Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
02.11.1926 |
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Com. Reg. No.: |
HRB 6863 |
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Legal Form : |
Private limited company |
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|
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Line of Business : |
Retail sale of miscellaneous goods
(except food) |
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|
|
No. of Employees : |
5,458 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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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 |
Company name and address
WOOLWORTH GMBH
Company Status: active
Formerstr. 6
D 59425 Unna
Telephone:02303/5938100
Telefax:
02303/5938389
Homepage: www.woolworth.de
E-mail: info@woolworth.de
VAT no.: DE271549856
Tax ID number: 316/5788/0679
CONCLUSION
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 02.11.1926
Begin of business
activities: 01.07.2010
Shareholders'
agreement: 18.05.2010
Registered on: 07.06.2010
Commercial Register: Local court 59065 Hamm
under: HRB
6863
Share capital: EUR 15,000,000.00
Shareholder:
H. H. Holding GmbH
Edisonstr. 1
D 59199 Bönen
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 6,425,000.00
Registered on: 20.09.2011
Reg. data: 59065 Hamm,
HRB 7285
Shareholder:
B. H. Holding GmbH
Edisonstr. 1
D 59199 Bönen
Legal form: Private
limited company
Share capital: EUR 100,000.00
Share: EUR 5,500,000.00
Registered on: 02.02.2012
Reg. data: 59065 Hamm,
HRB 7399
Shareholder:
Heinz Speet
D 49740 Haselünne
born: 02.11.1958
Share: EUR 1,500,000.00
Shareholder:
D.S. Holding GmbH
Mierendorffplatz 11
D 10589 Berlin
Legal form: Private
limited company
Share capital: EUR
25,000.00
Share: EUR 1,500,000.00
Registered on: 22.05.2007
Reg. data: 14057 Berlin,
HRB 107485 B
Shareholder:
Gerald Finke
D 48143 Münster
born: 23.06.1958
Share: EUR 75,000.00
Manager:
Hans-Dieter Schindel
Mengeweg 29
D 59494 Soest
having sole
power of representation
born: 11.03.1964
Profession: Businessman
Marital status: unknown
Manager:
Thomas Leege
Mirower Str. 209
D 12623 Berlin
born: 19.12.1973
Proxy:
Dirk Landwehr
Feidiekstr. 10
D 48231 Warendorf
having sole power of representation
born: 04.11.1967
Profession: Businessman
Proxy:
Dirk Friesen
D 40210 Düsseldorf
having sole power of
representation
born: 01.02.1970
Profession: Fully
qualified merchant
Proxy:
Andreas Titze
D 58452 Witten
having sole power of
representation
born: 25.11.1963
Proxy:
Alexander Schmökel
D 48143 Münster
having sole power of
representation
born: 14.08.1965
Further functions/participations of
Hans-Dieter Schindel
(Manager)
General partner:
Hans-Dieter Schindel und
Dagmar
Schindel-Wucher
Mengeweg 29
D 59494 Soest
Legal form: Partnership
under the Civil Code
Shareholder:
KiK Textilien und
Non-Food GmbH
Siemensstr. 21
D 59199 Bönen
Post Box:
12 04 33, Dortmund
Legal form: Private limited
company
Share capital: EUR
15,338,756.44
Share: EUR 76,693.78
Registered
on: 24.09.2001
Reg. data: 59065 Hamm, HRB 4085
Shareholder:
D.S. Holding GmbH
Mierendorffplatz 11
D 10589 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Registered
on: 22.05.2007
Reg. data: 14057 Berlin, HRB 107485 B
Manager:
D.S. Holding GmbH
Mierendorffplatz 11
D 10589 Berlin
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 22.05.2007
Reg. data: 14057 Berlin, HRB 107485 B
Manager:
Woolworth Logistik GmbH
Formerstr. 6
D 59425 Unna
Legal form: Private limited company
Share capital: EUR 25,000.00
Registered
on: 20.07.2010
Reg. data: 59065 Hamm, HRB 6901
Shareholder:
S&S T-Shirt
Textilienhandel AG
Plauener Str. 163-165 ,
Haus 3
Aufgang C
D 13053 Berlin
Legal form: Public
limited company
Share capital: EUR 50,000.00
Share: 50.000 %
Registered
on: 19.05.2008
Reg. data: 14057 Berlin, HRB 113548 B
President of the Supervisory Board:
S&S T-Shirt
Textilienhandel AG
Plauener Str. 163-165 ,
Haus 3
Aufgang C
D 13053 Berlin
Legal form: Public
limited company
Share capital: EUR 50,000.00
Registered
on: 19.05.2008
Reg. data: 14057 Berlin, HRB 113548 B
COMPANY HISTORY
15.06.2010 - 19.08.2010 WOWO Handelsgesellschaft mbH
Siemensstr. 21
D 59199 Bönen
Private limited
company
BUSINESS ACTIVITIES
Main industrial sector
47191
Retail sale of miscellaneous goods (except food)
4729
Other retail sale of food
4751
Retail sale of textiles
47599
Retail sale of household articles n.e.c.
BRANCHES AND FACTORIES
Works:
Woolworth GmbH
Kuhtorstr.
D 23758 Oldenburg
Works:
Woolworth GmbH
Holstenstr. 37
D 24103 Kiel
Works:
Woolworth GmbH
Breite Str. 39-43
D 23552 Lübeck
Works:
Woolworth GmbH
Westring 1-3
D 59065 Hamm
Works:
Woolworth GmbH
Paul-Junius-Str. 70
D 10369 Berlin
Works:
Woolworth GmbH
D 80331
München
Works:
Woolworth GmbH
D 44623 Herne
Works:
Woolworth GmbH
D 48527 Nordhorn
Works:
Woolworth GmbH
D 01968 Senftenberg
Works:
Woolworth GmbH
D 59423 Unna
Works:
Woolworth GmbH
D 76131 Karlsruhe
Works:
Woolworth GmbH
D 07545 Gera
Works:
Woolworth GmbH
D 01776 Hermsdorf
Works:
Woolworth GmbH
Rathausstr. 25
D 66333 Völklingen
Branch:
Woolworth GmbH
D 59199 Bönen
PARTICIPATIONS
Shareholder:
Woolworth Logistik GmbH
Formerstr. 6
D 59425 Unna
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 20.07.2010
Local court 59065 Hamm
HRB 6901
FINANCIAL INFORMATION
Payment experience: within
agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2010/2011
REAL ESTATE
Type of ownership: Tenant
Address Formerstr.
6
D 59425 Unna
Real Estate of: H. H. Holding GmbH
Type of ownership: Tenant
Address Edisonstr.
1
D 59199 Bönen
Real Estate of: B.
H. Holding GmbH
Type of ownership: Tenant
Address Edisonstr.
1
D 59199 Bönen
Real Estate of: Hans-Dieter
Schindel
Type of ownership: Tenant
Address Mengeweg
29
D 59494 Soest
Land register documents were not available.
BANKERS
SPARKASSE BERGKAMEN-BÖNEN, BÖNEN
Sort. code: 41051845, BIC: WELADED1BGK
VOLKSBANK BÖNEN, BÖNEN
Sort. code: 41062215, BIC: GENODEM1BO1
FINANCIAL FIGURES
Turnover: 2010/2011 EUR 257,031,609.00
2011/2012 EUR 260,000,000.00
Profit: 2010/2011 EUR 3,753,393.00
further business figures:
Equipment: EUR
4,384,908.00
Ac/ts receivable: EUR 5,246,213.00
Liabilities: EUR 44,312,555.00
Total numbers of vehicles: 25
Employees: 5,458
-
thereof permanent staff: 480
-
Trainees:
26
-
Temporary workers: 4,952
BALANCE SHEETS
Balance sheet ratios 18.05.2010 - 30.04.2011
Equity ratio [%]: 18.40
Liquidity ratio: 0.13
Return on total capital [%]: 5.21
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
Financial year: 18.05.2010 - 30.04.2011
ASSETS EUR 72,550,801.57
Fixed assets
EUR 5,985,007.68
Intangible assets
EUR 1,023,921.00
Concessions, licences, rights
EUR 1,010,421.00
Advance payments for intang. assets
EUR 13,500.00
Tangible assets
EUR 4,936,086.68
Other tangible assets / fixtures and
fittings
EUR 4,384,908.00
Advance payments made / construction
in progress EUR 551,178.68
Financial assets
EUR 25,000.00
Shares in participations /
subsidiaries and the like
EUR 25,000.00
Shares in related companies
EUR 25,000.00
Current assets
EUR 66,270,852.82
Stocks
EUR 51,954,959.05
Finished goods / work in progress
EUR 51,954,959.05
Accounts receivable EUR 5,246,212.72
Amounts due from shareholders
EUR 491,775.21
Trade debtors
EUR 28,735.98
Amounts due from related companies
EUR 834,733.36
Other debtors and assets
EUR 3,890,968.17
Liquid means
EUR 9,069,681.05
Remaining other assets
EUR 294,941.07
Accruals (assets)
EUR 294,941.07
LIABILITIES EUR 72,550,801.57
Shareholders' equity
EUR 13,753,393.45
Capital
EUR 10,000,000.00
Subscribed capital (share capital)
EUR 10,000,000.00
Balance sheet profit/loss (+/-)
EUR 3,753,393.45
Annual surplus / annual deficit
EUR 3,753,393.45
Provisions
EUR 14,483,953.61
Provisions for taxes
EUR 2,266,000.00
Other / unspecified provisions
EUR 12,217,953.61
Liabilities
EUR 44,312,554.51
Financial debts
EUR 14,068,282.54
Liabilities due to banks EUR 14,068,282.54
Other liabilities
EUR 30,244,271.97
Trade creditors (for IAS incl. bills
of exchange)
EUR 28,140,096.58
Unspecified other liabilities
EUR 2,104,175.39
thereof liabilities from tax /
financial authorities
EUR 1,137,109.08
thereof liabilities from social
security
EUR 364.07
Other liabilities EUR 900.00
Deferrals (liabilities)
EUR 900.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 257,031,609.43
Other operating income
EUR 1,757,625.05
Cost of materials
EUR 120,913,524.28
Purchased services
EUR 120,913,524.28
Gross result (+/-)
EUR 137,875,710.20
Staff expenses
EUR 51,160,575.55
Wages and salaries
EUR 42,514,609.54
Social security contributions and
expenses for pension plans and
benefits
EUR 8,645,966.01
Total depreciation
EUR 3,593,913.73
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 3,593,913.73
Other operating expenses
EUR 77,528,029.81
Operating result from continuing
operations
EUR 5,593,191.11
Result from participating interests
(+/-)
EUR 209,114.01
Expenses / income from participations EUR 209,114.01
Income from related companies
EUR 209,114.01
Interest result (+/-)
EUR 243,652.56
Interest and similar income
EUR 326,969.29
Interest and similar expenses
EUR 83,316.73
Financial result (+/-)
EUR 452,766.57
Result from ordinary operations (+/-)
EUR 6,045,957.68
Income tax / refund of income tax (+/-)EUR -2,284,897.26
Other taxes / refund of taxes
EUR -7,666.97
Tax (+/-)
EUR -2,292,564.23
Annual surplus / annual deficit
EUR 3,753,393.45
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
|
|
1 |
Rs.84.19 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.