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MIRA
INFORM REPORT
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Report No. : |
509697 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
WOOLWORTH GMBH |
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Registered Office : |
Formerstr. 6, D 59425 Unna |
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Country : |
Germany |
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Financials (as on) : |
30.04.2015 |
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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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Line of Business : |
· Retail sale of miscellaneous goods (except food) · Other retail sale of food · Retail sale of textiles · Retail sale of household articles n.e.c. |
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No. of Employees : |
4,350 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 economic 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, investment, and exports are likely to drive German GDP growth in
2018, and the country’s budget and trade surpluses are likely to remain high.
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Source
: CIA |
Company name & 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
Company Summary
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:
Dirk Landwehr
Feidiekstr. 10
D 48231 Warendorf
authorized to jointly represent the company
born: 04.11.1967
Profession: Businessman
Manager:
Mechthild Sabine Gottkehaskamp
Kronprinzenstr. 11c
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:
Oliver Penner
Karl-Greis-Str. 3
D 42349 Wuppertal
authorized to jointly represent the company
born: 15.07.1974
Proxy:
Markus Wütig
Letterhausstr. 5
D 59368 Werne
authorized to jointly represent the company
born: 08.03.1968
Proxy:
Peter-Paul Jannsen
Dorfstr. 50
D 44143 Dortmund
authorized to jointly represent the company
born: 02.10.1957
Marital status: married
Proxy:
Maik Wilcke
Hardtstr. 38
D 42107 Wuppertal
authorized to jointly represent the company
born: 08.09.1969
Proxy:
Rocco Ringo Rausch
Wenkerstr. 17
D 44141 Dortmund
authorized to jointly represent the company
born: 22.12.1977
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
Further functions/participations of Oliver Penner (Manager)
Proxy:
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
COMPANY HISTORY
Company name and legal form
07.06.2010 - 19.08.2010 WOWO Handelsgesellschaft mbH
Siemensstr. 21
D 59199 Bönen
Private limited company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
08.05.2015 - 25.11.2016 Manager
Gerald Finke
Im Hagenfeld 101
D 48147 Münster
22.07.2014 - 07.10.2015 Manager
Alexander Schmökel
D 94060 Pocking
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.
PARTICIPATIONS
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
FINANCIAL INFORMATION
Payment experience: No Complaints
Negative information: We have no negative information at hand.
Balance sheet year: 2014/2015
REAL ESTATE
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.
BANKERS
Principal Bank
COMMERZBANK, 44047 DORTMUND
Sort. code: 44040037
BIC: COBADEFFXXX
Further Banks
VOLKSBANK UNNA ZNDL D DORTMUNDER VOLKSBANK, 59423 UNNA
Sort. code: 44160014
BIC: GENODEM1DOR
HSBC TRINKAUS & BURKHARDT, 40002 DÜSSELDORF
Sort. code: 30030880
BIC: TUBDDEDDXXX
SPARKASSE UNNAKAMEN, 59409 UNNA
Sort. code: 44350060
BIC: WELADED1UNN
FINANCIAL FIGURES
Turnover: 2015/2016 EUR 339,400,000.00
2016/2017 *EUR 360,000,000.00
further business
figures:
Equipment: EUR 4,384,908.00
Ac/ts
receivable:
EUR 4,964,819.00
Liabilities: EUR 38,013,223.00
Total numbers of
vehicles:
60
- Passenger
cars:
60
Employees:
4,350
- thereof permanent
staff: 816
- Trainees:
276
- Temporary
workers:
3,258
The business figures marked with an asterisk are estimates based on average values in the line of business.
BALANCE SHEETS
Balance sheet ratios
01.05.2014 - 30.04.2015
Equity ratio
[%]: 27.52
Liquidity
ratio: 0.16
Return on total
capital [%]: 3.44
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:
self-disclosure
Financial year: 01.05.2014 - 30.04.2015
ASSETS EUR 69,177,709.66
Fixed assets EUR 12,398,408.19
Intangible assets EUR 432,832.29
Concessions, licences, rights EUR 373,802.00
Advance payments for intang. assets EUR 59,030.29
Tangible assets EUR 11,934,251.90
Other tangible assets / fixtures and
fittings EUR 11,883,189.00
Advance payments made / construction
in progress EUR 51,062.90
Financial assets EUR 31,324.00
Shares in participations /
subsidiaries and the like EUR 25,000.00
Shares in related companies EUR 25,000.00
Other loans EUR 6,324.00
Current assets EUR 54,281,056.26
Stocks EUR 45,004,716.48
Finished goods / work in progress EUR
45,004,716.48
Accounts receivable EUR 4,964,818.97
Trade debtors EUR 68,174.16
Amounts due from related companies EUR 223,224.38
Other debtors and assets EUR 4,673,420.43
Liquid means EUR 4,311,520.81
Remaining other assets EUR 2,498,245.21
Accruals (assets) EUR 454,145.21
Deferred taxes (assets) EUR 2,044,100.00
LIABILITIES EUR 69,177,709.66
Shareholders' equity EUR 18,521,344.96
Capital EUR 25,000,000.00
Subscribed capital (share capital) EUR
25,000,000.00
Reserves EUR 3,000,000.00
Capital reserves EUR 3,000,000.00
Balance sheet profit/loss (+/-) EUR
-9,478,655.04
Profit / loss brought forward EUR -11,789,390.11
Annual surplus / annual deficit EUR 2,310,735.07
Provisions EUR 12,298,888.57
Provisions for taxes EUR 1,368,912.20
Other / unspecified provisions EUR 10,929,976.37
Liabilities EUR 38,013,222.74
Financial debts EUR 3,833,770.67
Liabilities due to banks EUR 3,833,770.67
Other liabilities EUR 34,179,452.07
Trade creditors (for IAS incl. bills
of exchange) EUR 31,169,416.09
Liabilities due to shareholders EUR
2,000,000.00
Unspecified other liabilities EUR 1,010,035.98
thereof liabilities from tax /
financial authorities EUR 778,674.24
thereof liabilities from social
security EUR 20,463.62
Other liabilities EUR 344,253.39
Deferrals (liabilities) EUR 344,253.39
PROFIT AND LOSS
ACCOUNT (cost-summary method) according to Comm.
Code (HGB)
Sales EUR 304,596,016.24
Other operating income EUR 3,363,618.10
Cost of materials EUR 142,914,296.57
Raw materials and supplies, purchased
goods EUR 142,914,296.57
Gross result (+/-) EUR 165,045,337.77
Staff expenses EUR 65,291,796.03
Wages and salaries EUR 53,883,541.01
Social security contributions and
expenses for pension plans and
benefits EUR 11,408,255.02
Total depreciation EUR 3,136,245.22
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus. EUR 3,136,245.22
Other operating expenses EUR 92,819,397.42
Operating result from continuing
operations EUR 3,797,899.10
Result from participating interests
(+/-) EUR 203,099.41
Expenses / income from participations
EUR 203,099.41
Income from related companies EUR 203,099.41
Interest result (+/-) EUR
-335,655.34
Interest and similar income EUR 2,492.57
Interest and similar expenses EUR 338,147.91
Financial result (+/-) EUR -132,555.93
Result from ordinary operations (+/-) EUR
3,665,343.17
Income tax / refund of income tax
(+/-)EUR -1,337,933.10
Other taxes / refund of taxes EUR -16,675.00
Tax (+/-) EUR -1,354,608.10
Annual surplus / annual deficit EUR 2,310,735.07
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.53 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 80.53 |
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EUR |
1 |
INR 80.16 |
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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VIV |
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Report Prepared
by : |
NIT |
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 |
|
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.