I experienced it first-hand, thought I admit it has been many years since I've spent any time in Germany and I fully recognize that culture changes over time so I have no idea if this is still how it's done. That's why I used the word "historically" in my original statement.
German here. Punctuality is still valued highly. In a business context it is considered very rude not to be there exactly on time. You are seen as untrustworthy, if you can't honor a simple agreed upon time.
