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MIRA
INFORM REPORT
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Report No. : |
510147 |
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Report Date : |
19.05.2018 |
IDENTIFICATION DETAILS
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Name : |
CARL
ZEISS MEDITEC AG |
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Registered Office : |
Göschwitzer Str. 51-52, D 07745 Jena |
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Country : |
Germany |
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Financials (as on) : |
30.09.2017 |
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Date of Incorporation : |
04.10.1995 |
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Com. Reg. No.: |
HRB 205623 |
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Legal Form : |
Public limited company |
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Line of Business : |
·
Manufacutre of technical instruments and supplies for medical
purposesn.e.c ·
Other service activities n. e. c. ·
Wholesale of medical and orthopedic goods, dental and laboratory
supplies |
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No. of Employees : |
1,203 |
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 : |
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 (30.09.2017) |
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.
|
Source
: CIA |
Note
The
subject of your inquiry is a branch. We are reporting on the headquarters.
Company name and address
Report
on: Carl Zeiss Meditec AG
Company
Status: active
Göschwitzer
Str. 51-52
D
07745 Jena
Telephone:03641/220-0
Telefax: 03641/220-012
Homepage:
www.zeiss.de/meditec
E-mail: info.meditec@zeiss.com
VAT
no.: DE811922737
Company summery
LEGAL
FORM Public limited company
Date
of foundation: 04.10.1995
Registered
on: 30.11.1995
Commercial
Register: Local court 07745 Jena
under: HRB 205623
Share
capital:
EUR 89,440,570.00
The
company is listed on the stock market.
Shareholder:
Carl Zeiss AG
Carl-Zeiss-Str. 22
D 73447 Oberkochen
Legal form: Public limited company
Share capital: EUR
120,000,000.00
Share: 65.000 %
Registered on: 22.03.2004
Reg. data: 89073 Ulm, HRB
501555
Shareholder:
ODDO BHF SCA
12 Boulevard de la
Madeleine
F 7500 Paris
Legal form: Other legal
form
Share: 3.040 %
Shareholder:
Baillie Gifford & Co.
Calton Square, 1 Greenside
Row
GB EH1 3AN Edinburgh
Legal form: Other legal
form
Share: 3.000 %
Member
of the Board of Directors:
Dr. Ludwin Monz
D 79098 Freiburg
born: 20.10.1963
Member
of the Board of Directors:
Dr. Christian Müller
D 89129 Langenau
born: 03.08.1967
President
of the Supervisory Board:
Prof. Dr. sc. nat. Michael
Kaschke
Wiesenweg 20
D 73447 Oberkochen
born: 18.06.1957 in Greiz
Profession: Physicist
Marital status: unknown
Vice-president
of the Supervisory Board:
Dr. Markus Guthoff
D 47798 Krefeld
born: 12.05.1964
Member
of the Supervisory Board:
Thomas Spitzenpfeil
Schirnerstr. 24
D 41515 Grevenbroich
born: 22.12.1962
Profession: Businessman
Marital status: married
Member
of the Supervisory Board:
Dr. Carla Katharina Kriwet
D 20099 Hamburg
born: 01.03.1971
Member
of the Supervisory Board:
Cornelia Grandy
D 73447 Oberkochen
Marital status: unknown
Member
of the Supervisory Board:
Jörg Heinrich
D 07745 Jena
born: 1958 in Leipzig
Marital status: married
Proxy:
Hartmut König
D 85591 Vaterstetten
authorized to jointly
represent the company
born: 20.11.1958
Profession: Fully qualified
computer
scientist
Marital status: married
Proxy:
Cornelia Braun
D 89134 Blaustein
authorized to jointly
represent the company
born: 18.12.1966
Proxy:
Falk Hartwig
Argelsrieder Str. 19a
D 81475 München
authorized to jointly
represent the company
born: 25.05.1964
Proxy:
Jan Willem de Cler
NL Rotterdam
authorized to jointly
represent the company
born: 05.01.1965
Nationality: Dutch
Proxy:
Dirk Brunner
USA San Francisco, CA
authorized to jointly
represent the company
born: 10.07.1970
Nationality: USA
Proxy:
Dr. Till Sellschopp
D 99423 Weimar
authorized to jointly
represent the company
born: 25.07.1976
Further
functions/participations of Dr. Christian Müller (Member
of
the Board of Directors)
Manager:
Carl Zeiss Meditec Asset
Management
Verwaltungsgesellschaft
mbH
Göschwitzer Str. 51-52
D 07745 Jena
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 16.05.2000
Reg. data: 07745 Jena, HRB 208261
COMPANY HISTORY
company
name and legal form
23.02.2002
- 04.07.2002 ASCLEPION-MEDITEC AG
Göschwitzer Str. 51-52
D 07745 Jena
Public limited company
11.11.1999
- 22.02.2002 ASCLEPION-MEDITEC AG
Prüssingstr. 41
D 07745 Jena
Public limited company
04.10.1995
- 11.11.1999 AESCULAP - MEDITEC GMBH
Prüssingstr. 41
D 07745 Jena
Private limited
company
RESIGNED ACTING PERSONS AND SHAREHOLDERS
04.05.2011
- 25.10.2016 Member of the Board of
Directors
Thomas Simmerer
D 18375 Born
17.10.2011
- 21.04.2016 President of the Board of
Directors
Dr. Ludwin Monz
D 79098 Freiburg
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
96090 Other service activities n. e. c.
BRANCHES AND FACTORIES
Works:
Carl Zeiss Meditec AG
Carl-Zeiss-Promenade 10
D 07745 Jena
TEL.: 03641/643929
Works:
Carl Zeiss Meditec AG
Kistlerhofstr. 75
D 81379 München
Branch:
Carl Zeiss Meditec AG
Rudolf-Eber-Str. 11
D 73447 Oberkochen
TEL.: 07364/206000
PARTICIPATIONS
Shareholder:
Carl Zeiss Meditec Asset
Management
Verwaltungsgesellschaft
mbH
Göschwitzer Str. 51-52
D 07745 Jena
Legal form: Private limited
company
Company Status: active
Share capital: EUR 25,000.00
Share: EUR 25,000.00
Reg. data: 16.05.2000
Local court 07745 Jena
HRB 208261
FINANCIAL INFORMATION
Payment
experience: within agreed terms
Negative
information:We have no negative information at hand.
Balance
sheet year: 2016/2017
REAL ESTATE
Type
of ownership: proprietor
Share: 100.00 %
Address Paintweg 10
D 92685 Floß
Type
of ownership: Tenant
Address Göschwitzer Str. 51-52
D 07745 Jena
Land
register documents were not available.
BANKERS
Principal
bank
DEUTSCHE
BANK, 07703 JENA
Sort.
code: 82070000
BIC:
DEUTDE8EXXX
Further
banks
COMMERZBANK
VORMALS DRESDNER BANK, 07708 JENA
Sort.
code: 82080000
BIC:
DRESDEFF827
UNICREDIT
BANK - HYPOVEREINSBANK, 07704 JENA
Sort.
code: 83020087
BIC:
HYVEDEMM463
FINANCIAL FIGURES
Turnover: 2015/2016 EUR 689,643,000.00
2016/2017 EUR 766,162,000.00
Profit: 2015/2016 EUR 42,747,000.00
2016/2017 EUR 110,467,000.00
further
business figures:
Equipment: EUR 12,095,000.00
Ac/ts
receivable:
EUR 749,512,000.00
Liabilities: EUR 95,164,000.00
Employees:
1,203
-
Trainees:
5
BALANCE SHEETS
Balance
sheet ratios 01.10.2016 - 30.09.2017
Equity
ratio [%]: 89.04
Liquidity
ratio: 7.88
Return
on total capital [%]: 8.36
Balance
sheet ratios 01.10.2015 - 30.09.2016
Equity
ratio [%]: 83.87
Liquidity
ratio: 5.22
Return
on total capital [%]: 5.29
Balance
sheet ratios 01.10.2014 - 30.09.2015
Equity
ratio [%]: 86.18
Liquidity
ratio: 5.10
Return
on total capital [%]: 3.84
Balance
sheet ratios 01.10.2013 - 30.09.2014
Equity
ratio [%]: 87.24
Liquidity
ratio: 7.61
Return
on total capital [%]: 6.59
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.
Financials
Type
of balance
sheet: Company balance sheet
Origin
of the present
balance
sheet: electronic German Federal
Gazette
Financial
year: 01.10.2016 - 30.09.2017
ASSETS EUR 1,380,676,000.00
Fixed assets EUR 496,526,000.00
Intangible assets EUR 131,245,000.00
Concessions, licences, rights EUR 72,572,000.00
Goodwill EUR 58,673,000.00
Tangible assets EUR 19,067,000.00
Land / similar rights EUR 2,393,000.00
Plant / machinery EUR 3,601,000.00
Other tangible assets / fixtures and
fittings EUR 12,095,000.00
Advance payments made / construction
in progress EUR 978,000.00
Financial assets EUR 346,214,000.00
Shares in participations /
subsidiaries and the like EUR 253,448,000.00
Shares in related companies EUR 253,448,000.00
Loans to participations /
subsidiaries and the like EUR 91,941,000.00
Loans to related companies EUR 91,941,000.00
Other loans EUR 825,000.00
Current assets EUR 864,715,000.00
Stocks EUR 115,134,000.00
Raw materials, consumables and
supplies EUR 59,512,000.00
Finished goods / work in progress EUR
57,015,000.00
Advance payments made EUR 476,000.00
Minus received advance payments for
orders / installments for stocks EUR
-1,869,000.00
Accounts receivable EUR 749,512,000.00
Trade debtors EUR 37,820,000.00
Amounts due from related companies EUR
701,555,000.00
Other debtors and assets EUR 10,137,000.00
Liquid means EUR 69,000.00
Remaining other assets EUR 19,435,000.00
Accruals (assets) EUR 808,000.00
Active
difference from asset
offsetting EUR 18,627,000.00
LIABILITIES EUR 1,380,676,000.00
Shareholders' equity EUR 1,235,789,000.00
Capital EUR 89,441,000.00
Subscribed capital (share capital) EUR
89,441,000.00
Reserves EUR 957,882,000.00
Capital reserves EUR 954,942,000.00
Retained earnings / revenue reserves
EUR 2,940,000.00
Balance sheet profit/loss (+/-) EUR 188,466,000.00
Balance sheet profit / loss EUR 188,466,000.00
Items between shareholders' equity and
debt capital EUR 48,000.00
Allowances / bonuses EUR 48,000.00
Provisions EUR 47,529,000.00
Pension provisions and comparable
provisions EUR 1,669,000.00
Provisions for taxes EUR 4,260,000.00
Other / unspecified provisions EUR 41,600,000.00
Liabilities EUR 95,164,000.00
Other liabilities EUR 95,164,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 44,118,000.00
Liabililties due to related
companiesEUR 48,364,000.00
Unspecified other liabilities EUR 2,682,000.00
Other liabilities EUR 2,146,000.00
Deferrals (liabilities) EUR 2,146,000.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR 766,162,000.00
Manufacturing costs EUR 368,701,000.00
Gross result on sales EUR 397,461,000.00
Distribution costs EUR 118,620,000.00
General administration expenses EUR 34,657,000.00
Research and development costs EUR 120,603,000.00
Other operating income EUR 43,504,000.00
Other operating expenses EUR 46,336,000.00
Operating result from continuing
operations EUR 120,749,000.00
Result from participating interests
(+/-) EUR 33,223,000.00
Expenses / income from participations
EUR 33,223,000.00
Income from transfer of profits EUR 5,888,000.00
Income from related companies EUR 27,335,000.00
Interest result (+/-) EUR -2,527,000.00
Interest and similar income EUR 751,000.00
thereof from related companies EUR 702,000.00
Interest and similar expenses EUR 3,278,000.00
Other financial result EUR 2,388,000.00
Income from securities and loans from
financial assets EUR 2,388,000.00
Financial result (+/-) EUR 33,084,000.00
Result from ordinary operations (+/-) EUR
153,833,000.00
Income tax / refund of income tax
(+/-)EUR -43,060,000.00
Other taxes / refund of taxes EUR -306,000.00
Tax (+/-) EUR -43,366,000.00
Annual surplus / annual deficit EUR 110,467,000.00
Type
of balance
sheet: Company balance sheet
Origin
of the present
balance
sheet: electronic German Federal
Gazette
Financial
year: 01.10.2015 - 30.09.2016
ASSETS EUR 1,007,468,000.00
Fixed assets EUR 496,273,000.00
Intangible assets EUR 143,133,000.00
Concessions, licences, rights EUR 77,126,000.00
Goodwill EUR 66,007,000.00
Tangible assets EUR 17,993,000.00
Land / similar rights EUR 2,637,000.00
Plant / machinery EUR 4,276,000.00
Other tangible assets / fixtures and
fittings EUR 10,784,000.00
Advance payments made / construction
in progress EUR 296,000.00
Financial assets EUR 335,147,000.00
Shares in participations /
subsidiaries and the like EUR 251,950,000.00
Shares in related companies EUR 251,948,000.00
Shares in investee companies EUR 2,000.00
Loans to participations /
subsidiaries and the like EUR 82,454,000.00
Loans to related companies EUR
82,454,000.00
Other loans EUR 743,000.00
Current assets EUR 500,472,000.00
Stocks EUR 96,085,000.00
Raw materials, consumables and
supplies EUR 45,875,000.00
Finished goods / work in progress EUR
52,387,000.00
Advance payments made EUR 214,000.00
Minus received advance payments for
orders / installments for stocks EUR
-2,391,000.00
Accounts receivable EUR 404,314,000.00
Trade debtors EUR 33,216,000.00
Amounts due from related companies EUR
359,960,000.00
Amounts due from investee companies EUR
107,000.00
Other debtors and assets EUR 11,031,000.00
Liquid means EUR 73,000.00
Remaining other assets EUR 10,723,000.00
Accruals (assets) EUR 701,000.00
Active difference from asset
offsetting EUR 10,022,000.00
LIABILITIES EUR 1,007,468,000.00
Shareholders' equity EUR
846,268,000.00
Capital EUR 81,310,000.00
Subscribed capital (share capital) EUR
81,310,000.00
Reserves EUR 649,394,000.00
Capital reserves EUR 646,454,000.00
Retained earnings / revenue reserves
EUR 2,940,000.00
Balance sheet profit/loss (+/-) EUR 115,564,000.00
Balance sheet profit / loss EUR 115,564,000.00
Items between shareholders' equity and
debt capital EUR 81,000.00
Allowances / bonuses EUR 81,000.00
Provisions EUR 70,763,000.00
Pension provisions and comparable
provisions EUR 1,603,000.00
Provisions for taxes EUR 12,626,000.00
Other / unspecified provisions EUR 56,534,000.00
Liabilities EUR 86,817,000.00
Other liabilities EUR 86,817,000.00
Trade creditors (for IAS incl. bills
of exchange) EUR 37,348,000.00
Liabililties due to related
companiesEUR 45,450,000.00
Liabilities due to investee
companiesEUR 628,000.00
Unspecified other liabilities EUR 3,391,000.00
thereof liabilities from tax /
financial authorities EUR 3,184,000.00
Other liabilities EUR 3,539,000.00
Deferrals (liabilities) EUR 2,167,000.00
Deferred taxes (not included under
provisions/liabilities) EUR 1,372,000.00
Guarantees and other commitments EUR 28,656,000.00
Guarantees / warranties EUR 28,656,000.00
Guarantees EUR 28,656,000.00
PROFIT
AND LOSS ACCOUNT (cost of sales method) according to Comm.
Code
(HGB)
Sales EUR
689,643,000.00
Manufacturing costs EUR 353,287,000.00
Gross result on sales EUR 336,356,000.00
Distribution costs EUR 107,554,000.00
General administration expenses EUR 33,110,000.00
Research and development costs EUR 87,805,000.00
Other operating income EUR 32,554,000.00
Other operating expenses EUR 41,553,000.00
Operating result from continuing
operations EUR 98,888,000.00
Interest result (+/-) EUR -19,000.00
Interest and similar income EUR 749,000.00
thereof from related companies EUR 157,000.00
Interest and similar expenses EUR 768,000.00
Other financial result EUR -17,995,000.00
Income from securities and loans from
financial assets EUR 2,505,000.00
thereof related companies EUR 2,505,000.00
Depreciation on financial assets and
marketable securities EUR 20,500,000.00
Financial result (+/-) EUR -18,014,000.00
Result from ordinary operations (+/-) EUR
80,874,000.00
Extraordinary expenses EUR 6,970,000.00
Extraordinary result (+/-) EUR -6,970,000.00
Income tax / refund of income tax
(+/-)EUR -30,904,000.00
Other taxes / refund of taxes EUR -253,000.00
Tax (+/-) EUR -31,157,000.00
Annual surplus / annual deficit EUR 42,747,000.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.96 |
|
|
1 |
INR 91.88 |
|
Euro |
1 |
INR 80.26 |
|
Euro |
1 |
INR 80.16 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KET |
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.