MIRA INFORM REPORT
|
Report Date : |
14.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
RUAG AMMOTEC AG |
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Registered Office : |
Uttigenstrasse 67, 3602 Thun |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
08.09.2003 |
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|
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Com. Reg. No.: |
092.3.016.165-2 / 718163 |
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Legal Form : |
Company limited by shares |
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|
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Line of Business : |
development and production
of small-calibre ammunition for hunting and sports as well as armed forces
and government agencies |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
CHF 1'500'000 |
|
Status : |
Satisfactory |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
RUAG Ammotec AG
Operating address
Uttigenstrasse 67
3602 Thun
Switzerland/CH
Telephone: 033
2282220
Fax: 033
2282627
Web
site: http://www.ruag.com
E-mail: info.ammotec@ruag.com
Branch Address
Industriezone
Kleinr
Allmend
Gebaude
801
Allmendstrasse
160
CH-306 Thun,
VAT-No
CHE-110.208.100
Profile
Established: 2003
Line
of Business: Metal/steel
Industry
Division: Manufacturing
Industry-code (NACE): 2540 Manufacture of weapons and ammunition
Import/Export: Import, Export
Quality
certification: ISO 9001:2000
ISO 14001
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Employees: 250
Sales: CHF 75'000'000
Activity
The business activities includes the development and production of
small-calibre ammunition for hunting and sports as well as armed forces and
government agencies.
Real Estate
Information on property ownership was not available.
Company Register
Company
No: 092.3.016.165-2 /
718163
Legal
form: Company limited
by shares
Registration: 08.09.2003
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Bern
Auditor: PricewaterhouseCoopers
AG,
History: Date of Statutes:
26.05.2008
Date of
Statutes: 24.05.2004
Date of
Incorporation Statutes: 05.09.2003
Entry Deleted Name
10.06.2008 RUAG
Ammotec AG
08.09.2003 10.06.2008 RUAG Ammotec
Entry Deleted Legal domicile
08.09.2003
Entry Deleted Address
18.02.2004 Uttigenstrasse
67, 3602 Thun/BE, Switzerland/CH
Entry Deleted Capital
25.05.2004 Share
Capital CHF 12'000'000, paidup CHF 12'000'000
Entry Deleted Capital Structure
25.05.2004 12'000
Registered shares of CHF 1'000.--
Entry Deleted Activity (original Language)
10.06.2008 Entwicklung,
Herstellung, Vertrieb, Entsorgung von und Handel mit Munition, Hand- und
Gewehrgranaten, Anzündmittel, Triebkartuschen, sonstigen wehrtechnischen
Erzeugnissen und solchen der Munitionsindustrie sowie Waffen und Zubehör für
den Jagd- und Schiesssport. Die Gesellschaft kann Patente, Marken und Lizenzen
erwerben, betreuen, verwalten und veräussern, ferner kann sie sich an anderen
Unternehmungen beteiligen, Grundeigentum erwerben, verwalten, belasten und
veräussern. Die Gesllschaft kann Transaktionen im Interesse von
Konzerngesellschaften tätigen, insbesondere am Cash-Pooling teilnehmen und
damit zur direkten oder indirekten Sicherstellung der Finanzierung der Gruppe
beitragen.
Entry Deleted Remarks (original Language)
08.06.2005 Transfer
of Assets: Die Gesellschaft überträgt gemäss Vertrag vom 02.06.2005 und
Übertragungsinventar Aktiven von CHF 1.00 und Fremdkapital von CHF 0.00 auf die
RUAG IT Services, in
25.05.2004 Contribution
in kind/Asset takeover: Die Gesellschaft übernimmt bei der Kapitalerhöhung vom
24.5.2004 gemäss Sacheinlagevertrag vom 24.5.2004 mit Bilanz per 1.1.2004 von
der RUAG Land Systems, in Thun, den Geschäftsbereich "Kleinkaliber",
nämlich mit Teilaktiven von CHF 33'447'395.17 und Teilpassiven von CHF
20'325'395.17 mit einem Aktivenüberschuss von CHF 13'122'000.--, wofür 11'900
voll liberierte Namenaktien zu CHF 1'000.-- ausgestellt werden (Agio CHF
1'222'000.--).
08.09.2003 Publishing
authority: SHAB.
08.09.2003 Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
08.09.2003 Reports:
Die Einladungen und Mitteilungen an die Aktionäre erfolgen schriftlich.
Official Administration
Title Name
President Dr. Lukas
Braunschweiler, Origin:
Executive
Director Martin
Stahel, Origin: Turgi,
Executive
Director Urs Kiener,
Origin: Hasle bei
Management
Title Name
Member
of the management Christian Lutz,
Origin:
Member
of the management René Perret,
Origin: Renan BE,
Member
of the management Cyril Kubelka,
Origin:
Member
of the management Georges Hess,
Origin:
Company
Secretary Thomas Kopp,
Origin:
Member
with signing authority Ronald Cosman,
Origin:
Member
with signing authority Oliver
Haudenschild, Origin:
Member
with signing authority Dr. Peter
Spatz, Origin:
Member
with signing authority Hans Bracher,
Origin: Burgdorf,
Executive board
Title Name
Chief
Executive Officer Cyril
Kubelka
Financial Data RUAG Group
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2009 31.12.2008 31.12.2007 31.12.2006 31.12.2005
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: IAS IAS IAS IAS IAS
Balance Sheet
Intangible fixed
assets 208'000.0 81'300.0 55'800.0 52'700.0 42'200.0
Land and buildings 403'600.0 319'600.0 333'600.0 318'400.0 331'200.0
Other tangible
fixed assets 153'500.0 208'900.0 186'400.0 184'700.0 125'300.0
Tangible fixed
assets 557'100.0 528'500.0 520'000.0 503'100.0 456'500.0
Financial fixed
assets 68'400.0 61'800.0 59'500.0 51'300.0 43'100.0
other fixed assets 10'000.0 0.0 0.0 0.0 0.0
Fixed assets 843'500.0 671'600.0 635'300.0 607'100.0 541'800.0
Stocks 443'300.0 394'500.0 372'900.0 331'700.0 269'400.0
Trade accounts
receivable 383'200.0 423'400.0 353'200.0 246'700.0 298'300.0
Liquid assets 68'900.0 65'300.0 56'000.0 28'600.0 68'400.0
Securities 9'200.0 7'400.0 7'400.0 0.0 0.0
other trade
accounts 17'600.0 16'800.0 10'600.0 4'600.0 1'600.0
Accruals 4'600.0 8'100.0 2'800.0 8'100.0 4'700.0
other current
assets 100'300.0 97'600.0 76'800.0 41'300.0 74'700.0
Current assets 926'800.0 915'500.0 802'900.0 619'700.0 642'400.0
Total assets 1'770'300.0 1'587'100.0 1'438'200.0 1'226'800.0 1'184'200.0
Capital 340'000.0 340'000.0 340'000.0 340'000.0 340'000.0
Other shareholders
funds 320'500.0 422'800.0 444'100.0 388'900.0 323'700.0
Total shareholders
equity 660'500.0 762'800.0 784'100.0 728'900.0 663'700.0
Minority interests 1'100.0 500.0 500.0 100.0 200.0
long term debt
(financial debts) 900.0 62'800.0 5'900.0 8'300.0 29'600.0
Provisions 110'200.0 93'300.0 62'900.0 50'700.0 45'200.0
Other non current
liabilities 63'400.0 32'200.0 27'100.0 20'600.0 23'400.0
Non current
liabilities 174'500.0 188'300.0 95'900.0 79'600.0 98'200.0
short term debt
(financial debts) 247'200.0 101'600.0 83'200.0 16'300.0 34'000.0
Trade accounts
payable 359'200.0 321'400.0 287'400.0 209'700.0 168'100.0
Provisions 132'100.0 94'200.0 91'100.0 99'700.0 124'300.0
Accruals 161'400.0 69'500.0 41'400.0 40'400.0 30'100.0
other accounts
payable 34'300.0 48'800.0 54'600.0 52'100.0 65'600.0
other current
liabilities 327'800.0 212'500.0 187'100.0 192'200.0 220'000.0
Current
liabilities 934'200.0 635'500.0 557'700.0 418'200.0 422'100.0
Shareh. equity,
min. interests + liabilities 1'770'300.0 1'587'100.0 1'438'200.0 1'226'800.0 1'184'200.0
Profit and loss
account
Net sales 1'695'500.0 1'536'800.0 1'409'100.0 1'247'300.0 1'193'500.0
Other operating
revenue 26'700.0 24'100.0 22'400.0 8'100.0 13'400.0
Operating revenue 1'722'200.0 1'560'900.0 1'431'500.0 1'255'400.0 1'206'900.0
Cost of goods sold 649'800.0 539'300.0 480'200.0 381'600.0 418'400.0
Gross profit 1'072'400.0 1'021'600.0 951'300.0 873'800.0 788'500.0
Other operating
expenses 1'185'700.0 964'500.0 874'000.0 810'000.0 769'400.0
Operating result -113'300.0 57'100.0 77'300.0 63'800.0 19'100.0
Interest revenues 1'000.0 2'100.0 2'200.0 1'300.0 1'600.0
other financial
revenues 1'700.0 3'600.0 800.0 4'000.0 15'600.0
Financial income 2'700.0 5'700.0 3'000.0 5'300.0 17'200.0
Interest expenses 5'400.0 4'200.0 2'200.0 2'200.0 3'300.0
other financial
expenses 0.0 0.0 0.0 400.0 19'900.0
Financial expenses 5'400.0 4'200.0 2'200.0 2'600.0 23'200.0
Financial result -2'700.0 1'500.0 800.0 2'700.0 -6'000.0
Result before
extraordinary items -116'000.0 58'600.0 78'100.0 66'500.0 13'100.0
Extraordinary
income 0.0 0.0 4'800.0 8'100.0 800.0
Extraordinary
expenses 0.0 0.0 0.0 0.0 0.0
Extraordinary
Result 0.0 0.0 4'800.0 8'100.0 800.0
Result before
taxes -116'000.0 58'600.0 82'900.0 74'600.0 13'900.0
Taxes -9'200.0 7'900.0 7'500.0 5'100.0 16'700.0
Result before
minority interests -106'800.0 50'700.0 75'400.0 69'500.0 -2'800.0
minority interests 300.0 0.0 -100.0 100.0 0.0
Result for the
financial year -107'100.0 50'700.0 75'500.0 69'400.0 -2'800.0
Cash flow
Depreciation 142'700.0 64'900.0 57'700.0 52'200.0 75'400.0
Cash flow 35'900.0 115'600.0 133'100.0 121'700.0 72'600.0
Cash flow from
operating activities 130'700.0 81'000.0 52'300.0 105'300.0 82'000.0
Investments in
tangible fixed assets 85'000.0 69'100.0 66'200.0 90'200.0 51'700.0
Cash flow from
investing activities -229'900.0 -120'500.0 -80'000.0 -99'800.0 -46'200.0
Cash flow from financing
activities 86'700.0 31'800.0 52'800.0 -47'700.0 -49'600.0
Others 16'000.0 17'000.0 2'200.0 2'500.0 100.0
Change in
liquidity 3'500.0 9'300.0 27'400.0 -39'700.0 -13'700.0
Liquidity at
beginning of the year 65'300.0 56'000.0 28'600.0 68'400.0 82'100.0
Liquidity at end
ot the year 68'800.0 65'300.0 56'000.0 28'700.0 68'400.0
Notes
Material costs 649'800.0 539'300.0 480'200.0 381'600.0 418'400.0
Cost of employees 776'500.0 693'100.0 640'400.0 599'100.0 564'100.0
Research and
Development 148'900.0 123'400.0 84'600.0 76'200.0 47'900.0
Orders received 1'872'100.0 1'581'600.0 1'684'300.0 1'658'700.0 1'230'000.0
Added value 808'600.0 820'800.0 783'200.0 735'800.0 656'700.0
Working Capital 467'300.0 496'500.0 438'700.0 368'700.0 399'600.0
Sales per Employee 225.0 229.8 230.8 218.1 214.0
Gross cost land
and buildings 738'900.0 594'700.0 605'800.0 435'700.0 766'900.0
Gross cost other
tangible fixed assets 744'600.0 671'600.0 600'600.0 428'300.0 553'600.0
Gross cost total 1'483'500.0 1'266'300.0 1'206'400.0 864'000.0 1'320'500.0
Insurance value
land and buildings 1'423'300.0 1'345'200.0
Insurance value
other tang. fixed assets 1'319'400.0 1'192'500.0
Insurance value
total 2'742'700.0 2'537'700.0 2'490'900.0 2'268'400.0 2'290'400.0
Employees average 7'253 6'310 6'050 5'677 5'640
Full time units at
year end 7'534 6'687 6'104 5'720 5'577
Employees inland 3'593 3'750
Employees abroad 2'084 1'827
Ultimate Parent Company
Name: RUAG Holding AG
City/Country:
Owner/-s
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Name: RUAG Holding AG
City/Country:
Interest: 100.00% voting right,
100.00% capital interest (since 2003)
Sisters
Name: RUAG Deutschland GmbH
City/Country:
Name: RUAG Electronics AG
City/Country:
Name: RUAG Land Systems AG
City/Country:
Name: RUAG Real Estate AG
City/Country:
Name: RUAG Schweiz AG
City/Country:
Name: RUAG Services AG
City/Country:
Name: RUAG Space AG
City/Country:
Name: Ruag
City/Country:
Investments
It is believed that the company has no investments.
Legal Actions
Control date Year No. Amount CHF Status
20.12.2010 2010 0
20.12.2010 2009 0
20.12.2010 2008 0
20.12.2010 2007 0
20.12.2010 2006 5 Legal
actions
20.12.2010 2006 4 10'430'400.-- Opposition filed
An updated legal action check is only available
against proof of interest. e.g. a copy of an enquiry letter, and order or
invoice relating to the subject company.
Credit Information
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is considered to be good.
Payment
experiences: Payments are made with
arranged conditions.
Maximum
Credit: CHF 1'500'000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.