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Report No. : |
340228 |
|
Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
WOOLWORTH GMBH |
|
|
|
|
Registered Office : |
Formerstr. 6 D 59425 Unna |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
30.04.2014 |
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|
|
|
Date of Incorporation : |
02.11.1929 |
|
|
|
|
Legal Form : |
Private limited company |
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|
|
|
Line of Business : |
·
Other retail sale of food
|
|
|
|
|
No. of Employees : |
4,569 |
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 |
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|
|
Payment Behaviour : |
Slow but correct |
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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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 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 5.2% in 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) per hour to take effect in 2015. 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 2012 Germany reached a budget surplus of 0.1%. The budget was essentially in balance in 2014. 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 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 with renewable energy, which accounted for 27.8% of gross electricity consumption in 2014, 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.
|
Source
: CIA |
Woolworth
GmbH
Formerstr. 6
D 59425 Unna
Telephone:02303/5938100
Telefax:
02303/5938389
Homepage: www.woolworth.de
E-mail:
info@woolworth.de
DE271549856
316/5788/0679
Active
Business
relations are permissible.
LEGAL
FORM Private limited company
Date
of foundation: 02.11.1926
Shareholders'
agreement: 18.05.2010
Registered on: 07.06.2010
Commercial Register: Local court 59065 Hamm
under: HRB
6863
Share
capital:
EUR 25,000,000.00
Shareholder:
H. H. Lizenz GmbH
Edisonstr. 1
D 59199 Bönen
Legal form: Private
limited company
Share capital: EUR 26,000.00
Share: EUR 13,416,666.00
Registered on: 26.01.2012
Reg. data: 59065 Hamm,
HRB 7386
Shareholder:
B. H. Holding GmbH
Edisonstr. 1
D 59199 Bönen
Legal form: Private
limited company
Share capital: EUR 125,000.00
Share: EUR 11,583,334.00
Registered on: 02.02.2012
Reg. data: 59065 Hamm,
HRB 7399
Manager:
Gerald Finke
D 48143 Münster
authorized to jointly
represent the company
born: 23.06.1958
Profession: Businessman
Marital status: married
Manager:
Dirk Landwehr
Feidiekstr. 10
D 48231 Warendorf
authorized to jointly
represent the company
born: 04.11.1967
Profession: Businessman
Manager:
Mechthild Sabine
Gottkehaskamp
D 48153 Münster
authorized to jointly
represent the company
born: 07.10.1963
Profession: Businessman
Marital status: unknown
Manager:
Thomas Leege
Mirower Str. 209
D 12623 Berlin
born: 19.12.1973
Manager:
Alexander Schmökel
D 48143 Münster
authorized to jointly
represent the company
born: 14.08.1965
Manager:
Oliver Penner
D 42103 Wuppertal
authorized to jointly
represent the company
born: 15.07.1974
Proxy:
Markus Wütig
D 59368 Werne
authorized to jointly
represent the company
born: 08.03.1968
Proxy:
Maik Wilcke
D 42103 Wuppertal
authorized to jointly
represent the company
born: 08.09.1969
Further functions/participations of Gerald
Finke (Manager)
Shareholder:
H. H.
Immobilienverwaltungs GmbH
Edisonstr. 1
D 59199 Bönen
Legal form: Private
limited company
Share capital: EUR 2,000,000.00
Share: EUR 19,000.00
Registered
on: 26.06.2012
Reg. data: 59065 Hamm, HRB 7539
Further functions/participations of Dirk
Landwehr (Manager)
Manager:
ERL Euro Retail Logistics
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
07.06.2010 - 19.08.2010 WOWO Handelsgesellschaft mbH
Siemensstr. 21
D 59199 Bönen
Private limited
company
20.10.2010 - 08.10.2014 Manager
Hans-Dieter Schindel
D 59494 Soest
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.
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
Shareholder:
ERL Euro Retail Logistics
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
Payment experience: Slow but correct
Negative information: We have no negative
information at hand.
Balance sheet year: 2013/2014
Type
of ownership: Tenant
Address Formerstr.
6
D 59425 Unna
Real
Estate of: B. H. Holding GmbH
Type
of ownership: Tenant
Address Edisonstr.
1
D 59199 Bönen
Land
register documents were not available.
SPARKASSE BERGKAMEN-BÖNEN, 59199 BÖNEN
Sort.
code: 41051845
BIC:
WELADED1BGK
VOLKSBANK BÖNEN, 59194 BÖNEN
Sort.
code: 41062215
BIC:
GENODEM1BO1
Turnover: 2012/2013 EUR 282,751,008.00
2013/2014 EUR 293,279,586.00
Expected turnover: EUR 300,000,000.00
Profit: 2012/2013 EUR -399,348.00
2013/2014 EUR -1,591,379.00
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: 4,569
- thereof permanent
staff:
668
- Trainees:
258
- Temporary workers: 3,643
BALANCE SHEETS
Balance sheet ratios 01.05.2013 - 30.04.2014
Equity
ratio [%]: 23.01
Liquidity ratio: 0.10
Return
on total capital [%]: -2.33
Balance sheet ratios 01.05.2012 - 30.04.2013
Equity
ratio [%]: 26.42
Liquidity
ratio: 0.11
Return
on total capital [%]: -0.67
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: 01.05.2013 - 30.04.2014
ASSETS EUR 70,808,924.10
Fixed assets EUR 12,256,459.00
Intangible assets EUR 863,133.00
Concessions, licences,
rights EUR 863,133.00
Tangible assets EUR 11,368,326.00
Other tangible assets /
fixtures and
fittings EUR 11,368,326.00
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 55,472,132.13
Stocks EUR 48,129,191.23
Finished goods / work in
progress EUR 48,129,191.23
Accounts receivable EUR 3,894,158.24
Trade debtors EUR 64,817.44
Amounts due from related
companies EUR 364,500.03
Other debtors and assets EUR 3,464,840.77
Liquid means EUR 3,448,782.66
Remaining other
assets EUR 3,080,332.97
Accruals (assets) EUR 590,732.97
Deferred taxes
(assets) EUR 2,489,600.00
LIABILITIES EUR 70,808,924.10
Shareholders' equity EUR 13,210,609.89
Capital EUR 25,000,000.00
Subscribed capital
(share capital) EUR 25,000,000.00
Balance sheet profit/loss
(+/-) EUR -11,789,390.11
Profit / loss brought
forward EUR -10,198,010.76
Annual surplus / annual
deficit EUR -1,591,379.35
Provisions EUR 9,770,178.25
Provisions for taxes EUR 510,110.39
Other / unspecified
provisions EUR 9,260,067.86
Liabilities EUR 47,611,852.46
Financial debts EUR 12,243,868.77
Liabilities due to
banks EUR 12,243,868.77
Other liabilities EUR 35,367,983.69
Trade creditors (for IAS
incl. bills
of exchange) EUR 29,264,154.17
Liabilities due to
shareholders EUR 5,000,000.00
Unspecified other
liabilities EUR 1,103,829.52
thereof liabilities
from tax /
financial
authorities EUR 893,831.75
thereof liabilities
from social
security EUR 0.00
Other liabilities EUR 216,283.50
Deferrals (liabilities) EUR 216,283.50
PROFIT AND LOSS ACCOUNT
(cost-summary method) according to Comm.
Code (HGB)
Sales EUR 293,279,586.73
Other operating
income EUR 4,901,142.42
Cost of materials EUR 134,266,125.96
Raw materials and
supplies, purchased
goods EUR 134,266,125.96
Gross result (+/-) EUR 163,914,603.19
Staff expenses EUR 60,202,490.98
Wages and salaries EUR 49,583,756.25
Social security
contributions and
expenses for pension
plans and
benefits EUR 10,618,734.73
Total depreciation EUR 2,816,474.87
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 2,816,474.87
Other operating
expenses EUR 100,216,839.38
Operating result from
continuing
operations EUR 678,797.96
Result from participating
interests
(+/-) EUR 221,691.09
Expenses / income from
participations EUR 221,691.09
Income from related
companies EUR 221,691.09
Interest result (+/-) EUR -560,925.08
Interest and similar
income EUR 55,127.77
thereof from related
companies EUR 1,795.89
Interest and similar
expenses EUR 616,052.85
Financial result
(+/-) EUR -339,233.99
Result from ordinary
operations (+/-) EUR 339,563.97
Income tax / refund of
income tax (+/-)EUR -1,918,085.32
Other taxes / refund of
taxes EUR -12,858.00
Tax (+/-) EUR -1,930,943.32
Annual surplus / annual
deficit EUR -1,591,379.35
Type of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.05.2012 - 30.04.2013
ASSETS EUR 63,529,436.83
Fixed assets EUR 9,139,872.00
Intangible assets EUR 918,953.00
Concessions, licences,
rights EUR 918,953.00
Tangible assets EUR 8,195,919.00
Other tangible assets /
fixtures and
fittings EUR 8,195,919.00
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 49,708,721.81
Stocks EUR 42,620,836.00
Finished goods / work in
progress EUR 42,620,836.00
Accounts receivable EUR 3,050,371.84
Trade debtors EUR 43,292.86
Amounts due from related
companies EUR 407,281.82
Other debtors and
assets EUR 2,599,797.16
Liquid means EUR 4,037,513.97
Remaining other
assets EUR 4,680,843.02
Accruals (assets) EUR 469,143.02
Deferred taxes
(assets) EUR 4,211,700.00
LIABILITIES EUR 63,529,436.83
Shareholders' equity EUR 4,801,989.24
Capital EUR 15,000,000.00
Subscribed capital
(share capital) EUR 15,000,000.00
Balance sheet profit/loss
(+/-) EUR -10,198,010.76
Profit / loss brought
forward EUR -9,798,662.74
Annual surplus / annual
deficit EUR -399,348.02
Items between
shareholders' equity and
debt capital EUR 10,000,000.00
Mezzanine financing EUR 10,000,000.00
Contributions for capital
increase EUR 10,000,000.00
Provisions EUR 11,688,223.49
Provisions for taxes EUR 2,452,561.00
Other / unspecified
provisions EUR 9,235,662.49
Liabilities EUR 37,038,593.16
Financial debts EUR 4,546,390.55
Liabilities due to
banks EUR 4,546,390.55
Other liabilities EUR 32,492,202.61
Trade creditors (for IAS
incl. bills
of exchange) EUR 24,896,845.21
Liabilities due to
shareholders EUR 5,082,556.25
Unspecified other
liabilities EUR 2,512,801.15
Other liabilities EUR 630.94
Deferrals
(liabilities) EUR 630.94
PROFIT
AND LOSS ACCOUNT (cost-summary method) according to Comm.
Code
(HGB)
Sales EUR 282,751,007.60
Other operating
income EUR 7,162,170.18
Cost of materials EUR 140,805,305.26
Purchased services EUR 140,805,305.26
Gross result (+/-) EUR
149,107,872.52
Staff expenses EUR 54,447,773.54
Wages and salaries EUR 44,186,035.83
Social security
contributions and
expenses for pension
plans and
benefits EUR 10,261,737.71
Total depreciation EUR 2,226,765.72
Depreciation on tangible
/ intangible
asssets (incl. start-up
and exp. of
bus. EUR 2,226,765.72
Other operating
expenses EUR 94,423,134.26
Operating result from
continuing
operations EUR -1,989,801.00
Result from participating
interests
(+/-) EUR 195,818.46
Expenses / income from
participations EUR 195,818.46
Income from related
companies EUR 195,818.46
Interest result (+/-) EUR -824,146.19
Interest and similar income EUR 101,961.03
thereof from related
companies EUR 2,012.00
Interest and similar
expenses EUR 926,107.22
Financial result
(+/-) EUR -628,327.73
Result from ordinary
operations (+/-) EUR -2,618,128.73
Extraordinary result
(+/-) EUR 3,000,000.00
Income tax / refund of
income tax (+/-)EUR -769,902.29
Other taxes / refund of
taxes EUR -11,317.00
Tax (+/-) EUR -781,219.29
Annual surplus / annual
deficit EUR -399,348.02
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
|
UK Pound |
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
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|
Report Prepared
by : |
TRU |
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.