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MIRA
INFORM REPORT
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Report No. : |
490724 |
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Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
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Name : |
RICHARD WOLF GMBH |
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Registered Office : |
Pforzheimer Str. 32 D 75438
Knittlingen Post Box:11 65 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
01.01.1906 |
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Com. Reg. No.: |
HRB 510031 |
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Legal Form : |
Private limited company |
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Line of Business : |
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No. of Employees : |
1,156 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2018.
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Source
: CIA |
Company name
and address
Richard Wolf GmbH
Pforzheimer Str. 32
D 75438 Knittlingen
Post Box: 11 65
Telephone:07043/35-0
Telefax: 07043/354300
Homepage: www.richard-wolf.com
E-mail: info@richard-wolf.com
Company
Status
Active
VAT no.
DE144521586
CONCLUSION
Business relations are permissible.
Company
summery
LEGAL FORM Private
limited company
Date of foundation: 01.01.1906
Shareholders'
agreement: 15.01.1947
Registered on: 14.11.1947
Commercial Register: Local court 68159 Mannheim
under: HRB
510031
Share capital: EUR 25,570,000.00
Shareholder:
Richard und Annemarie
Wolf-Stiftung
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Public law
foundation
Share: EUR 25,570,000.00
Manager:
Jürgen Pfab
D 75438 Knittlingen
born: 09.02.1962
Manager:
Jürgen Steinbeck
D 75438 Knittlingen
born: 20.07.1968
Proxy:
Steffen Oliver Heider
D 69115 Heidelberg
authorized to jointly represent the
company
born: 04.09.1972
Proxy:
Volker Maute
D 75438 Knittlingen
authorized to jointly
represent the company
born: 24.03.1964
Further functions/participations of Jürgen
Pfab (Manager)
Manager:
RIWO spine GmbH
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 23.09.2016
Reg. data: 68159 Mannheim, HRB 725912
Manager:
Richard Wolf
Verwaltungsgesellschaft mbH
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 14.11.1947
Reg. data: 68159 Mannheim, HRB 510559
Manager:
Kurt Semrau GmbH
Gänsäcker 64
D 78532 Tuttlingen
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 24.08.1971
Reg. data: 70190 Stuttgart, HRB 450089
Manager:
Heynemann GmbH
Rosenheimer Str. 145h
D 81671 München
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 10.11.1998
Reg. data: 80333 München, HRB 42187
Manager:
Wintegral GmbH
Ehrenbreitsteiner Str. 36
D 80993 München
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 03.01.2013
Reg. data: 80333 München, HRB 202754
Further functions/participations of Jürgen
Steinbeck (Manager)
Manager:
Wintegral GmbH
Ehrenbreitsteiner Str. 36
D 80993 München
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 03.01.2013
Reg. data: 80333 München, HRB 202754
Manager:
RIWO spine GmbH
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 23.09.2016
Reg. data: 68159 Mannheim, HRB 725912
Manager:
Kurt Semrau GmbH
Gänsäcker 64
D 78532 Tuttlingen
Legal form: Private limited company
Share capital: EUR 25,564.59
Registered
on: 24.08.1971
Reg. data: 70190 Stuttgart, HRB 450089
Manager:
Heynemann GmbH
Rosenheimer Str. 145h
D 81671 München
Legal form: Private
limited company
Share capital: EUR 50,000.00
Registered
on: 10.11.1998
Reg. data: 80333 München, HRB 42187
Manager:
Richard Wolf
Verwaltungsgesellschaft mbH
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 14.11.1947
Reg. data:
68159 Mannheim, HRB 510559
COMPANY
HISTORY
company name and legal form
1947 - 01.09.1970 Richard Wolf
D 75438 Knittlingen
Sole proprietorship
01.01.1906 - 1947 Richard Wolf
D 10115 Berlin
Unregistered
commercial enterprise
RESIGNED
ACTING PERSONS AND SHAREHOLDERS
25.03.2015 - 23.06.2017 Manager
Siegfried Karst
Sennigstr. 25
D 75239 Eisingen
BUSINESS
ACTIVITIES
Main industrial sector
3250
Manufacture of medical and dental instruments and supplies
46462 Wholesale of medical and orthopedic goods,
dental and laboratory supplies
BRANCHES
AND FACTORIES
Branch:
Richard Wolf GmbH
Lübarser Str. 40
D 13435 Berlin
PARTICIPATIONS
Shareholder:
Heynemann GmbH
Rosenheimer Str. 145h
D 81671 München
Legal form: Private
limited company
Company Status: active
Share capital: EUR 50,000.00
Share: EUR 50,000.00
Reg. data: 10.11.1998
Local court
80333 München
HRB 42187
Shareholder:
Kurt Semrau GmbH
Gänsäcker 64
D 78532 Tuttlingen
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data: 24.08.1971
Local court
70190 Stuttgart
HRB 450089
Shareholder:
Richard Wolf
Verwaltungsgesellschaft mbH
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,564.59
Share: EUR 25,564.59
Reg. data: 14.11.1947
Local court
68159 Mannheim
HRB 510559
Shareholder:
RIWO spine GmbH
Pforzheimer Str. 32
D 75438 Knittlingen
Legal form: Private
limited company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 23.09.2016
Local court
68159 Mannheim
HRB 725912
Shareholder:
Wintegral GmbH
Ehrenbreitsteiner Str. 36
D 80993 München
Legal form: Private
limited company
Company Status: active
Share capital: EUR
25,000.00
Share: EUR 25,000.00
Reg. data: 03.01.2013
Local court
80333 München
HRB 202754
Shareholder:
Medizinisches Laserzentrum Lübeck
GmbH
Peter-Monnik-Weg 4
D 23562 Lübeck
Legal form: Private
limited company
Company Status: active
Share capital: EUR 95,000.00
Share: EUR 10,000.00
Reg. data: 01.07.1986
Local court
23568 Lübeck
HRB 2117 HL
FINANCIAL INFORMATION
Payment experience: within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2015
REAL
ESTATE
Type of ownership: proprietor
Share: 100.00 %
Address Pforzheimer
Str. 22 + 24
D 75438 Knittlingen
Type of ownership: Tenant
Address Pforzheimer
Str. 32
D 75438 Knittlingen
Type of ownership: Tenant
Address Lübarser
Str. 40
D 13435 Berlin
Land register documents were not available.
BANKERS
Principal banks
COMMERZBANK, 75172 PFORZHEIM
Sort. code: 66640035
BIC: COBADEFFXXX
DEUTSCHE BANK, 76125 KARLSRUHE
Sort. code: 66070004
BIC: DEUTDESM660
COMMERZBANK VORMALS DRESDNER BANK, 75105
PFORZHEIM
Sort. code: 66680013
BIC: DRESDEFF666
SPARKASSE PFORZHEIM CALW, 75172 PFORZHEIM
Sort. code: 66650085
BIC: PZHSDE66XXX
FINANCIAL
FIGURES
Turnover: 2016 EUR 155,000,000.00
2017 EUR 157,000,000.00
Expected turnover: *EUR 160,000,000.00
further business figures:
Equipment: EUR 5,737,259.00
Ac/ts receivable: EUR 127,822,291.00
Liabilities: EUR 8,297,029.00
Employees:
1,156
- thereof permanent
staff: 1,156
The business figures marked with an asterisk
are estimates based
on average values in the line of business.
BALANCE SHEETS
Balance sheet ratios
01.01.2015 - 31.12.2015
Equity ratio [%]: 68.86
Liquidity ratio: 10.00
Return on total capital
[%]: -1.40
Balance sheet ratios
01.01.2014 - 31.12.2014
Equity ratio [%]: 69.67
Liquidity ratio: 10.00
Return on total capital
[%]: -1.05
Balance sheet ratios
01.01.2013 - 31.12.2013
Equity ratio [%]: 72.92
Liquidity ratio: 10.00
Return on total capital
[%]: 1.35
Balance sheet ratios
01.01.2012 - 31.12.2012
Equity ratio [%]: 75.29
Liquidity ratio: 10.00
Return on total capital
[%]: -0.03
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: 01.01.2015 - 31.12.2015
ASSETS EUR 244,228,216.56
Fixed assets EUR
52,220,586.10
Intangible assets EUR 2,630,697.99
Concessions, licences, rights EUR 2,425,179.00
Advance payments for intang. assets EUR
205,518.99
Tangible assets EUR 43,974,759.89
Land / similar rights EUR 29,586,983.59
Plant / machinery EUR 8,034,289.00
Other tangible assets / fixtures and
fittings EUR 5,737,259.00
Advance payments made / construction
in progress EUR 616,228.30
Financial assets EUR 5,615,128.22
Shares in participations /
subsidiaries and the like EUR 4,904,512.09
Shares in related companies EUR 4,899,368.34
Shares in investee companies EUR 5,143.75
Loans to participations /
subsidiaries and the like EUR 710,616.13
Loans to related companies EUR 710,616.13
Current assets EUR 191,295,769.20
Stocks EUR 51,827,250.47
Raw materials, consumables and
supplies EUR 11,789,703.00
Finished goods / work in progress EUR
39,808,200.00
Advance payments made EUR 229,347.47
Accounts receivable EUR 127,822,291.50
Trade debtors EUR 27,663,479.64
Amounts due from related companies EUR
96,082,215.69
Other debtors and assets EUR 4,076,596.17
Liquid means EUR 11,646,227.23
Remaining other assets EUR 711,861.26
Accruals (assets) EUR 711,861.26
LIABILITIES EUR 244,228,216.56
Shareholders' equity EUR 168,195,687.45
Capital EUR 25,570,000.00
Subscribed capital (share capital) EUR
25,570,000.00
Reserves EUR 142,607,154.51
Retained earnings / revenue reserves
EUR 142,607,154.51
Balance sheet profit/loss (+/-) EUR 18,532.94
Balance sheet profit / loss EUR 18,532.94
Provisions EUR 67,735,499.23
Pension provisions and comparable
provisions EUR 62,129,577.00
Provisions for taxes EUR 248,162.23
Other / unspecified provisions EUR 5,357,760.00
Liabilities EUR 8,297,029.88
Other liabilities EUR 8,297,029.88
Trade creditors (for IAS incl. bills
of exchange) EUR 4,585,130.70
Liabilities from received advance
payments EUR 489,342.40
Liabililties due to related
companiesEUR 1,724,521.25
Unspecified other liabilities EUR 1,498,035.53
thereof liabilities from tax /
financial authorities EUR 788,000.00
thereof liabilities from social
security EUR 49,000.00
Guarantees and other commitments EUR 268,000.00
Discounted bills of exchange EUR
102,000.00
Guarantees / warranties EUR 166,000.00
Guarantees EUR 166,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 151,122,277.52
Inventory change + own costs (+/-) EUR
-1,160,521.00
Inventory change (+/-) EUR -1,160,521.00
Other operating income EUR 1,282,439.79
Cost of materials EUR 53,642,338.23
Raw materials and supplies, purchased
goods EUR 50,895,346.61
Purchased services EUR 2,746,991.62
Gross result (+/-) EUR 97,601,858.08
Staff expenses EUR 67,866,656.84
Wages and salaries EUR 53,347,655.18
Social security contributions and
expenses for pension plans and
benefits
EUR 14,519,001.66
Total depreciation EUR 5,091,612.78
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 5,091,612.78
Other operating expenses EUR 25,508,633.40
Operating result from continuing
operations EUR -865,044.94
Result from participating interests
(+/-) EUR 142,294.86
Expenses / income from participations
EUR 142,294.86
Income from transfer of profits EUR 142,294.86
Expenses for the transfer of losses EUR 515,489.27
Interest result (+/-) EUR -2,358,095.81
Interest and similar income EUR 413,992.34
thereof from related companies EUR 407,949.86
Interest and similar expenses EUR 2,772,088.15
Other
financial result EUR 35,836.86
Income from securities and loans from
financial assets EUR 35,836.86
thereof related companies EUR 35,836.86
Financial result (+/-) EUR -2,695,453.36
Result from ordinary operations (+/-) EUR
-3,560,498.30
Extraordinary expenses EUR 594,945.00
Extraordinary result (+/-) EUR -594,945.00
Income tax / refund of income tax
(+/-)EUR 203,927.46
Other taxes / refund of taxes EUR -65,620.94
Tax (+/-) EUR 138,306.52
Annual surplus / annual deficit EUR -4,017,136.78
Type of balance
sheet: Company balance sheet
Origin of the present
balance sheet: electronic German Federal Gazette
Financial year: 01.01.2014 - 31.12.2014
ASSETS EUR 247,496,998.98
Fixed assets EUR 47,849,428.38
Intangible assets EUR 2,453,619.21
Concessions, licences, rights EUR 1,791,324.00
Advance payments for intang. assets EUR 662,295.21
Tangible assets EUR 44,284,031.16
Land / similar rights EUR 19,094,488.89
Plant / machinery EUR 4,473,126.00
Other tangible assets / fixtures and
fittings EUR 5,397,589.00
Advance payments made / construction
in progress EUR 15,318,827.27
Financial assets EUR 1,111,778.01
Shares in participations /
subsidiaries and the like EUR 557,481.80
Shares in related companies EUR 552,338.05
Shares in investee companies EUR 5,143.75
Loans to participations /
subsidiaries and the like
EUR 554,296.21
Loans to related companies EUR 554,296.21
Current assets EUR 199,156,527.92
Stocks EUR 50,473,923.92
Raw materials, consumables and
supplies EUR 9,645,277.00
Finished goods / work in progress EUR
40,549,494.00
Advance payments made EUR 279,152.92
Accounts receivable EUR 135,023,466.58
Trade debtors EUR 32,308,204.86
Amounts due from related companies EUR
98,689,427.73
Other debtors and assets EUR 4,025,833.99
Liquid means EUR 13,659,137.42
Remaining other assets EUR 491,042.68
Accruals (assets) EUR 419,785.27
Active difference from asset
offsetting EUR 71,257.41
LIABILITIES EUR 247,496,998.98
Shareholders' equity EUR 172,412,824.23
Capital EUR 25,570,000.00
Subscribed capital (share capital) EUR
25,570,000.00
Reserves EUR 146,807,154.51
Retained earnings / revenue reserves
EUR 146,807,154.51
Balance sheet profit/loss (+/-) EUR 35,669.72
Balance sheet profit / loss EUR 35,669.72
Provisions EUR 63,339,277.00
Pension provisions and comparable
provisions EUR 55,828,960.00
Provisions for taxes EUR 1,464,299.00
Other / unspecified provisions EUR 6,046,018.00
Liabilities EUR 11,744,897.75
Other liabilities EUR 11,744,897.75
Trade
creditors (for IAS incl. bills
of exchange) EUR 5,122,258.96
Liabilities from received advance
payments EUR 224,323.97
Liabililties due to related companiesEUR 2,342,605.54
Unspecified other liabilities EUR 4,055,709.28
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 150,054,122.82
Inventory change + own costs (+/-) EUR -647,274.00
Inventory change (+/-) EUR -647,274.00
Other operating income EUR 1,020,534.77
Cost of materials EUR 55,333,776.14
Raw materials and supplies, purchased
goods EUR 52,966,359.41
Purchased services EUR 2,367,416.73
Gross result (+/-) EUR 95,093,607.45
Staff expenses EUR 65,946,869.55
Wages and salaries EUR 51,029,924.79
Social security contributions and
expenses for pension plans and
benefits EUR 14,916,944.76
Total depreciation EUR 4,008,814.45
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 4,008,814.45
Other operating expenses EUR 25,175,331.34
Operating result from continuing
operations EUR -37,407.89
Result from participating interests
(+/-) EUR -14,258.94
Expenses / income from participations
EUR 466,283.68
Income from transfer of profits EUR 466,283.68
Expenses for participations EUR 480,542.62
Expenses for other participations EUR 480,542.62
Interest result (+/-) EUR -1,869,915.17
Interest and similar income EUR 823,999.29
thereof from related companies EUR 731,542.06
Interest and similar expenses EUR 2,693,914.46
Other financial result EUR 30,005.83
Income from securities and loans from
financial assets EUR 30,005.83
thereof related companies EUR 30,005.83
Financial result (+/-) EUR -1,854,168.28
Result from ordinary operations (+/-) EUR
-1,891,576.17
Extraordinary expenses EUR 594,945.00
Extraordinary result (+/-) EUR -594,945.00
Income tax / refund of income tax
(+/-)EUR -632,346.79
Other taxes / refund of taxes EUR -65,760.45
Tax (+/-) EUR -698,107.24
Annual surplus / annual deficit EUR -3,184,628.41
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.89 |
|
Euro |
1 |
INR 79.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.