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MIRA INFORM REPORT
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Report No. : |
491554 |
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Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
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Name : |
DEVILBISS HEALTHCARE GMBH |
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Registered Office : |
Kamenzer
Str. 3, D 68309 Mannheim |
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Country : |
Germany |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
21.12.2009 |
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Com. Reg. No.: |
HRB 708518 |
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Legal Form : |
Private limited company |
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Line of Business : |
·
Manufacutre
of technical instruments and supplies for medical purposesn.e. ·
Wholesale
of medical and orthopedic goods, dental and laboratory supplies · Repair of other personal and household goods |
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No. of Employees : |
34 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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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
Report on: DeVilbiss
Healthcare GmbH
Company Status: active
Kamenzer Str. 3
D 68309 Mannheim
Telephone: 0621/178980
Telefax: 0621/17898220
Homepage:
www.drivedevilbiss-int.com
E-mail: kontakt@devilbisshc.com
VAT no.: DE269054809
CONCLUSION
Business relations are permissible.
Company
summary
Legal Form Private
limited company
Date of foundation: 21.12.2009
Shareholders'
agreement: 21.12.2009
Registered on: 22.01.2010
Commercial Register: Local court 68159 Mannheim
under: HRB
708518
Share capital: EUR 25,000.00
Shareholder:
DeVilbiss Healthcare LLC
100 DeVilbiss Drive
USA 15501-2125 Somerset,
Pennsylvenia
Legal form: Other legal
form
Share: EUR 25,000.00
Manager:
Oliver Herbert Niemann
Blütenweg 21
D 64625 Bensheim
having sole power of
representation
born: 29.03.1967
Profession: Businessman
Marital status: married
Manager:
Timothy Walsh
USA Johnstown
having sole power of
representation
born: 24.11.1964
Nationality: USA
Manager:
Thomas San Antonio
USA New York
having sole power of
representation
born: 26.04.1957
Nationality: USA
Proxy:
Marko Spallek
D 76689 Karlsdorf-Neuthard
having sole power of
representation
born: 14.06.1974
Further functions/participations of Oliver
Herbert Niemann
(Manager)
Shareholder:
JFR Medical Instruments
GmbH
Ostuferhafen 15
D 24149 Kiel
Legal form: Private
limited company
Share capital: EUR 250,000.00
Share: EUR 25,000.00
Registered
on: 28.07.2014
Reg. data: 24114 Kiel, HRB 15965 KI
COMPANY
HISTORY
company name and legal form
22.01.2010 - 13.08.2010 DeVilbiss Healthcare GmbH
Kahlbachring 2-4
D 69254 Malsch
Private limited
company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
14.12.2011 - 07.08.2015 Manager
Edward Murphy
USA Des Plaines
BUSINESS
ACTIVITIES
Main industrial sector
32501
Manufacutre of technical instruments and supplies for medical
purposesn.e.c.
46462 Wholesale of medical and orthopedic goods,
dental and laboratory supplies
Secondary industrial sector
9529
Repair of other personal and household goods
FINANCIAL
INFORMATION
Payment experience: Slow
but correct
Negative information: We have no negative information at hand.
Balance sheet year: 2015
REAL
ESTATE
Type of ownership: Tenant
Address Kamenzer
Str. 3
D 68309 Mannheim
Land register documents were not available.
BANKERS
DEUTSCHE BANK, 69111 HEIDELBERG
Sort. code: 67270003, Account no.: 131070500
BIC: DEUTDESM672, IBAN: DE61672700030131070500
FINANCIAL
FIGURES
Turnover: 2017 EUR 31,366,978.00
Equipment: EUR 61,277.00
Ac/ts receivable: EUR 3,234,393.00
Liabilities: EUR 3,134.00
Employees:
34
BALANCE
SHEETS
Balance sheet ratios 01.07.2015 - 31.12.2015
Equity ratio [%]: -6.59
Liquidity ratio: 0.96
Return on total capital [%]: -4.23
Balance sheet ratios 01.07.2014 - 30.06.2015
Equity ratio [%]: -14.74
Liquidity ratio: 0.88
Return on total capital [%]: -4.33
Balance sheet ratios 01.07.2013 - 30.06.2014
Equity ratio [%]: -11.46
Liquidity ratio: 0.95
Return on total capital [%]: 9.61
Balance sheet ratios 01.07.2012 - 30.06.2013
Equity ratio [%]: 52.03
Liquidity ratio: 3.89
Return on total capital [%]: 15.21
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
Origin of the present balance sheet: electronic
German Federal Gazette
Financial year: 01.07.2015
- 31.12.2015
ASSETS EUR 4,666,218.29
Fixed assets
EUR 464,487.58
Intangible assets EUR 393,211.07
Goodwill EUR 393,211.07
Tangible assets EUR 61,276.51
Other tangible assets / fixtures and
fittings EUR 61,276.51
Financial assets EUR 10,000.00
Shares in participations /
subsidiaries and the like EUR 10,000.00
Shares in related companies EUR 10,000.00
Current assets EUR 4,151,688.25
Stocks EUR 690,083.72
Finished goods / work in progress EUR 690,083.72
Accounts receivable EUR 3,234,393.49
Trade debtors EUR 1,861,719.41
Amounts due from related companies EUR
1,145,476.09
Other debtors and assets EUR 227,197.99
Liquid means EUR 227,211.04
Remaining other assets EUR 50,042.46
Accruals (assets) EUR 50,042.46
LIABILITIES
EUR 4,666,218.29
Shareholders' equity EUR 595,525.24
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Reserves EUR 475,296.16
Capital reserves EUR 475,296.16
Balance sheet profit/loss (+/-) EUR 95,229.08
Profit / loss brought forward EUR 256,591.89
Annual surplus / annual deficit EUR -161,362.81
Provisions EUR 935,853.51
Pension provisions and comparable
provisions EUR 203,554.00
Provisions for taxes EUR 445,974.46
Other / unspecified provisions EUR 286,325.05
Liabilities EUR 3,134,839.54
Other liabilities EUR 3,134,839.54
Trade creditors (for IAS incl. bills
of exchange) EUR 293,996.89
Liabililties due to related
companiesEUR 2,713,963.61
Unspecified other liabilities EUR 126,879.04
thereof liabilities from tax /
financial authorities EUR 113,606.40
thereof liabilities from social
security EUR 2,128.93
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales EUR 8,614,913.19
Other operating income EUR 208,040.69
Cost of materials EUR 5,940,071.28
Raw materials and supplies, purchased
goods EUR 5,916,797.59
Purchased services EUR 23,273.69
Gross result (+/-) EUR 2,882,882.60
Staff expenses EUR 914,014.48
Wages and salaries EUR 787,164.18
Social security contributions and
expenses for pension plans and
benefits EUR 126,850.30
Total depreciation EUR 145,545.07
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 145,545.07
Other operating expenses EUR 1,916,824.22
Operating result from continuing
operations EUR -93,501.17
Interest result (+/-) EUR -1.63
Interest and similar expenses EUR 1.63
Financial result (+/-) EUR -1.63
Result from ordinary operations (+/-) EUR
-93,502.80
Income tax / refund of income tax
(+/-)EUR -67,860.01
Tax (+/-) EUR -67,860.01
Annual surplus / annual deficit EUR -161,362.81
Type of balance sheet: Company
balance sheet
Origin of the present balance sheet: electronic
German Federal Gazette
Financial year: 01.07.2014
- 30.06.2015
ASSETS EUR 5,416,458.32
Fixed assets EUR 569,021.50
Intangible assets EUR 524,281.43
Goodwill EUR 524,281.43
Tangible assets EUR 44,740.07
Other tangible assets / fixtures and
fittings EUR 44,740.07
Current assets EUR 4,817,520.22
Stocks EUR 719,405.07
Finished goods / work in progress EUR 719,405.07
Accounts receivable EUR 3,476,733.06
Trade debtors EUR 1,098,918.49
Amounts due from related companies EUR
2,015,258.36
Other debtors and assets EUR 362,556.21
Liquid means EUR 621,382.09
Remaining other assets EUR 29,916.60
Accruals (assets) EUR 29,916.60
LIABILITIES EUR 5,416,458.32
Shareholders' equity EUR 756,888.05
Capital EUR 25,000.00
Subscribed capital (share capital) EUR 25,000.00
Reserves EUR 475,296.16
Capital reserves EUR 475,296.16
Balance sheet profit/loss (+/-) EUR 256,591.89
Profit / loss brought forward EUR 426,164.78
Annual surplus / annual deficit EUR -169,572.89
Provisions EUR 1,014,742.73
Pension provisions and comparable
provisions EUR 203,554.00
Provisions for taxes EUR 423,868.69
Other / unspecified provisions EUR 387,320.04
Liabilities EUR 3,644,827.54
Other liabilities EUR 3,644,827.54
Trade creditors (for IAS incl. bills
of exchange) EUR 88,296.88
Liabililties due to related companiesEUR 3,385,502.48
Unspecified other liabilities EUR 171,028.18
thereof liabilities from tax /
financial authorities EUR 150,704.76
thereof liabilities from social
security EUR 2,128.93
Guarantees and other commitments EUR 61,000.00
Sureties / lendings of
creditworthiness EUR 61,000.00
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.92 |
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1 |
INR 89.55 |
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Euro |
1 |
INR 79.68 |
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Euro |
1 |
INR 80.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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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.