MIRA INFORM REPORT

 

 

Report No. :

511541

Report Date :

26.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

U. I. LAPP GMBH

 

 

Registered Office :

Schulze-Delitzsch-Str. 25, D 70565 Stuttgart

 

 

Country :

Germany

 

 

Date of Incorporation :

1959

 

 

Com. Reg. No.:

HRB 12720

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Electronic and Telecommunications Equipment and Parts

 

 

No. of Employees :

811

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

                Previous Rating               

(30.09.2017)

Current Rating

(31.12.2017)

Germany

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

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

 

 

Company name & address

 

U. I. LAPP GMBH

 

Company Status:          active

                                    Schulze-Delitzsch-Str. 25

                                     D 70565 Stuttgart

                                    Telephone:0711/7838-01

                                    Telefax:  0711/7838-2640

                                    Homepage: www.lappkabel.de

                                    E-mail:   info@lappkabel.de

 

VAT no.:                       DE147823795

 

LEGAL FORM           Private Limited Company

Date of foundation:  1959

Shareholders'

agreement:           10.12.1987

Registered on:       03.03.1988

Commercial Register: Local court 70190 Stuttgart

under:               HRB 12720

 

Share capital:                          EUR         10,000,000.00

 

Shareholder:

                     Lapp Holding Deutschland GmbH

                     Oskar-Lapp-Str. 2

                     D 70565 Stuttgart

                     Legal form: Private limited company

                     Share capital:     EUR          1,000,000.00

                     Share:             EUR         10,000,000.00

                     Registered on: 21.09.1999

                     Reg. data: 70190 Stuttgart, HRB 20370

                     Profit transfer agreement

Manager:

                     Josef Holz

                     Burgholzweg 114

                     D 72070 Tübingen

                     born: 01.05.1954

                     Profession: expert in business law

                     Marital status: married

Manager:

                     Dr. Matthias Kirchherr

                     D 70771 Leinfelden-Echterdingen

                     born: 22.11.1962

                     Profession: Businessman

Manager:

                     Boris Katic

                     D 75223 Niefern-Öschelbronn

                     born: 07.02.1971

Manager:

                     Matthias Siegbert Lapp

                     D 70173 Stuttgart

                     having sole power of representation

                     born: 06.11.1982

Proxy:

                     Nicole Schmolke

                     D 70173 Stuttgart

                     authorized to jointly represent the company

                     born: 20.04.1968

                     née: Türke

Proxy:

                     Joachim Ruck

                     Im Reipel 11

                     D 74673 Mulfingen

                     authorized to jointly represent the company

                     born: 11.09.1967

Proxy:

                     Ales Vaicenbacher

                     CZ  Zlin

                     authorized to jointly represent the company

                     born: 10.03.1970

                     Nationality: Czech

Proxy:

                     Barbara Elisabeth Welscher

                     D 70565 Stuttgart

                     authorized to jointly represent the company

                     born: 29.04.1963

Proxy:

                     Guido Stefan Ege

                     D 70565 Stuttgart

                     authorized to jointly represent the company

                     born: 24.07.1966

 

Further functions/participations of Boris Katic (Manager)

Manager:

                     Contact Gesellschaft mit beschränkter

                     Haftung Elektrische Bauelemente

                     Oskar-Lapp-Str. 5

                     D 70565 Stuttgart

                     Legal form: Private limited company

                     Share capital:     EUR          1,022,583.76

                     Registered

                     on:         05.01.1967

                     Reg. data:  70190 Stuttgart, HRB 3282

Manager:

                     Lapp Gesellschaft mit beschränkter Haftung

                     Kabelwerke

                     Oskar-Lapp-Str. 5

                     D 70565 Stuttgart

                     Legal form: Private limited company

                     Share capital:     EUR             25,564.59

                     Registered

                     on:         10.10.1963

                     Reg. data:  70190 Stuttgart, HRB 2785

Manager:

                     Lapp Systems GmbH

                     Oskar-Lapp-Str. 5

                     D 70565 Stuttgart

                     Legal form: Private limited company

                     Share capital:     EUR            202,000.00

                     Registered

                     on:         27.12.2002

                     Reg. data:  70190 Stuttgart, HRB 23443

 

Further functions/participations of Matthias Siegbert Lapp

(Manager)

Limited partner:

                     Lapp Immobilien GmbH & Co. KG

                     Schulze-Delitzsch-Str. 25

                     D 70565 Stuttgart

                     Legal form: Ltd partnership with priv. ltd.

                                 company as general partner

                     Total cap.         EUR          1,533,875.63

                     contribution:

                     Share:             EUR            345,122.02

                     Registered

                     on:         16.03.1999

                     Reg. data:  70190 Stuttgart, HRA 12738

Limited partner:

                     Lapp Immobilien USA GmbH & Co. KG

                     Schulze-Delitzsch-Str. 25

                     D 70565 Stuttgart

                     Legal form: Ltd partnership with priv. ltd.

                                 company as general partner

                     Total cap.         EUR            100,000.00

                     contribution:

                     Share:             EUR             20,000.00

                     Registered

                     on:         02.05.2003

                     Reg. data:  70190 Stuttgart, HRA 13735

Shareholder:

                     SAV Lapp Beteiligung GmbH

                     Schilfweg 3

                     D 70599 Stuttgart

                     Legal form: Private limited company

                     Share capital:     EUR             27,000.00

                     Share:             EUR              4,500.00

                     Registered

                     on:         22.04.2015

                     Reg. data:  70190 Stuttgart, HRB 752484

Manager:

                     SAV Lapp Beteiligung GmbH

                     Schilfweg 3

                     D 70599 Stuttgart

                     Legal form: Private limited company

                     Share capital:     EUR             27,000.00

                     Registered

                     on:         22.04.2015

                     Reg. data:  70190 Stuttgart, HRB 752484

 

 

COMPANY HISTORY

 

company name and legal form

19.12.1998 - 31.12.2001  U.I. Lapp GmbH

                         Gewerbestr. 30

                         D 70565 Stuttgart

                         Private limited company

10.12.1987 - 18.12.1998  Polymer Werkstoffe GmbH & Co. KG

                         Gewerbestr. 30

                         D 70565 Stuttgart

                         Ltd partnership with priv. ltd. company

                         as general partner

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

13.07.1999 - 17.07.2017  Manager

                         Andreas Lapp

                         Rosentalstr. 46

                         D 70563 Stuttgart

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

46520   Wholesale of electronic and telecommunications equipment and parts

 

 

BRANCHES AND FACTORIES

 

Branch:

                     U. I. Lapp GmbH

                     Wiesenauer Str. 2

                     D 30179 Hannover

                     TEL.: 0511/37293-0

 

 

PARTICIPATIONS

 

Shareholder:

                     Lapp Service GmbH

                     Oskar-Lapp-Str. 2

                     D 70565 Stuttgart

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR            650,000.00

                     Share:             EUR            650,000.00

                     Reg. data:  11.08.2004

                                 Local court 70190 Stuttgart

                                 HRB 24768

 

 

FINANCIAL INFORMATION

 

Payment experience:  Regular

 

Negative information: We have no negative information at hand.

 

PMI:               No significant / relevant payment experience

                     information pertaining to the company

                     inquired upon is shown in the Deutscher

                     Debitoren Monitor (DDMonitor).

 

 

REAL ESTATE

 

Type of ownership:   Tenant

Address              Schulze-Delitzsch-Str. 25

                     D 70565 Stuttgart

 

Land register documents were not available.

BANKERS

 

Principal bank

LANDESBANK BADEN-WÜRTTEMBERG, 70144 STUTTGART

Sort. code: 60050000

BIC: SOLADESTXXX

 

Further banks

DEUTSCHE BANK, 70049 STUTTGART

Sort. code: 60070070

BIC: DEUTDESSXXX

DZ BANK, 70049 STUTTGART

Sort. code: 60060000

BIC: GENODESGXXX

UNICREDIT BANK - HYPOVEREINSBANK, 70003 STUTTGART

Sort. code: 60020290

BIC: HYVEDEMM473

LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144

STUTTGART

Sort. code: 60050101

BIC: SOLADEST600

 

 

FINANCIAL FIGURES

 

Financial year:      01.10. - 30.09.

Turnover:            2016/2017         *EUR        162,200,000.00

Share capital:                          EUR         10,000,000.00

Ac/ts receivable:                       EUR         53,400,000.00

Liabilities:                            EUR         74,500,000.00

Employees:                                                    811

 

Profit transfer agreement to:

Lapp Holding Deutschland GmbH

Oskar-Lapp-Str. 2

D 70565 Stuttgart

 

The business figures marked with an asterisk are estimates based on average values in the line of business.

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.26

UK Pound

1

INR 91.22

Euro

1

INR 79.88

EUR

1

INR 78.95

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.