|
Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUNRAY (DIVISION DER COOP GENOSSENSCHAFT) |
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Registered Office : |
Gallenweg 8, 4133 Pratteln |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1907 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Branch of domestic
company |
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Line of Business : |
trading, refining and marketing of food |
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No. of Employees : |
89 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Switzerland |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
switzerland - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous, and modern market economy with
low unemployment, a highly skilled labor force, and a per capita GDP among the
highest in the world. Switzerland's economy benefits from a highly developed
service sector, led by financial services, and a manufacturing industry that
specializes in high-technology, knowledge-based production. Its economic and
political stability, transparent legal system, exceptional infrastructure,
efficient capital markets, and low corporate tax rates also make Switzerland
one of the world's most competitive economies. The Swiss have brought their
economic practices largely into conformity with the EU's, to enhance their
international competitiveness, but some trade protectionism remains,
particularly for its small agricultural sector. The fate of the Swiss economy
is tightly linked to that of its neighbors in the euro zone, which purchases
half of all Swiss exports. The global financial crisis of 2008 and resulting
economic downturn in 2009 stalled export demand and put Switzerland in a
recession. The Swiss National Bank (SNB) during this period effectively
implemented a zero-interest rate policy to boost the economy as well as prevent
appreciation of the franc, and Switzerland's economy recovered in 2010 with
2.7% growth. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safehaven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell to 2.1% in 2011.
Switzerland has also come under increasing pressure from individual neighboring
countries, the EU, the US, and international institutions to reform its banking
secrecy laws. Consequently, the government agreed to conform to OECD
regulations on administrative assistance in tax matters, including tax evasion.
The government has renegotiated its double taxation agreements with numerous
countries, including the US, to incorporate the OECD standard, and in 2011 it
reached deals with Germany and the UK to resolve outstanding issues,
particularly the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source : CIA |
Sunray (Division der Coop Genossenschaft)
Gallenweg 8
4133 Pratteln
Switzerland/CH
Telephone: 061
8254900
Fax: 061
8254590
Web site: http://www.sunray.ch
E-mail: info@sunray.ch
VAT-No.: CHE116311185
Established: 1907
Line of Business: Food
Industry Division: Manufacturing
Industry-code (NACE): 1089 Manufacture of
other food products n.e.c.
1082 Manufacture of cocoa, chocolate and sugar
confectionery
1084 Manufacture of condiments and seasonings
Import/Export: Import
Quality certification: ISO 9001:2008 (since 2012)
Banks: unknown
Coverage: Company
Financial year: 2011
Employees: 89
Sales: CHF
135'000'000.--
The business includes
trading, refining and marketing of food. The daily production is about 100 tons
of commodities which will be processed and packaged.
Production
area 2011: 13,000 m2.
Sales 2011:
51,000 tons, 56 million packages
Real Estate: The company owns buildings.
Registration: The
company is not recorded in the Company Register.
Legal form: Branch
of domestic company
Legal status: active
Title Name
Chief Executive Officer Lorenzo Pelucchi (lorenzo.pelucchi@sunray.ch)
Chief Production Officer Thomas Beeler (thomas.beeler@sunray.ch)
WIN: CH0000022042
Name: Coop
Genossenschaft
City/Country: Basel,
Switzerland/CH
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010 31.12.2009 31.12.2008 31.12.2007
Number of months: 12 12 12 12 12
Currency: mil.
CHF mil. CHF mil. CHF mil. CHF mil.
CHF
Statement norm: ARR ARR ARR ARR ARR
Balance Sheet
Intangible fixed assets 1'633.0 1'101.0 1'517.0 1'279.0 1'017.0
Land and buildings 8'330.0 6'191.0 6'325.0 6'361.0 6'143.0
Other tangible fixed assets 1'553.0 1'285.0 1'340.0 1'330.0 1'293.0
Tangible fixed assets 9'883.0 7'476.0 7'665.0 7'691.0 7'436.0
Financial fixed assets 261.0 1'170.0 1'271.0 584.0 384.0
Fixed assets 11'777.0 9'747.0 10'453.0 9'554.0 8'837.0
Stocks 2'581.0 1'942.0 1'872.0 1'914.0 1'788.0
Trade accounts receivable 951.0 552.0 525.0 501.0 434.0
Liquid assets 442.0 1'762.0 497.0 576.0 315.0
Securities 130.0 110.0 83.0 84.0 75.0
other trade accounts 282.0 217.0 235.0 133.0 137.0
Accruals 329.0 294.0 309.0 219.0 224.0
Other current assets 1'183.0 2'383.0 1'124.0 1'012.0 751.0
Current assets 4'715.0 4'877.0 3'521.0 3'427.0 2'973.0
Total assets 16'492.0 14'624.0 13'974.0 12'981.0 11'810.0
Other shareholders funds 6'436.0 6'080.0 5'773.0 5'385.0 5'021.0
Total shareholders equity 6'436.0 6'080.0 5'773.0 5'385.0 5'021.0
Minority interests 350.0 331.0 326.0 290.0 304.0
long term debt (financial debts) 3'551.0 3'681.0 3'128.0 1'966.0 2'089.0
Provisions 1'022.0 1'078.0 1'107.0 1'078.0 948.0
Non current liabilities 4'573.0 4'759.0 4'235.0 3'044.0 3'037.0
short term debt (financial debts) 1'529.0 1'005.0 1'294.0 2'006.0 1'445.0
Trade accounts payable 2'224.0 1'326.0 1'124.0 1'096.0 988.0
Provisions 304.0 140.0 153.0 160.0 149.0
Accruals 598.0 562.0 615.0 550.0 505.0
other accounts payable 478.0 421.0 454.0 450.0 361.0
other current liabilities 1'380.0 1'123.0 1'222.0 1'160.0 1'015.0
Current liabilities 5'133.0 3'454.0 3'640.0 4'262.0 3'448.0
Shareh. equity, min. interests + liabilities 16'492.0 14'624.0 13'974.0 12'981.0 11'810.0
Profit and loss account
Net sales 26'640.0 18'965.0 18'717.0 18'271.0 15'812.0
Other operating revenue 975.0 788.0 697.0 684.0 656.0
Operating revenue 27'615.0 19'753.0 19'414.0 18'955.0 16'468.0
Cost of goods sold 18'941.0 12'480.0 12'286.0 12'217.0 10'514.0
Gross profit 8'674.0 7'273.0 7'128.0 6'738.0 5'954.0
Other operating expenses 7'963.0 6'563.0 6'514.0 6'079.0 5'310.0
Operating result 711.0 710.0 614.0 659.0 644.0
Interest revenues 17.0 29.0 40.0 26.0 22.0
other financial revenues 131.0 52.0 228.0 117.0 113.0
Financial income 148.0 81.0 268.0 143.0 135.0
Interest expenses 140.0 123.0 134.0 126.0 92.0
other financial expenses 94.0 15.0 197.0 138.0 82.0
Financial expenses 234.0 138.0 331.0 264.0 174.0
Financial result -86.0 -57.0 -63.0 -121.0 -39.0
Result before extraordinary items 625.0 653.0 551.0 538.0 605.0
Extraordinary income 0.0 40.0 90.0 73.0 44.0
Extraordinary expenses 0.0 16.0 24.0 39.0 180.0
Extraordinary Result 0.0 24.0 66.0 34.0 -136.0
Result before taxes 625.0 677.0 617.0 572.0 469.0
Taxes 122.0 144.0 134.0 131.0 74.0
Result before minority interests 503.0 533.0 483.0 441.0 395.0
minority interests 71.0 63.0 53.0 51.0 45.0
Result for the financial year 432.0 470.0 430.0 390.0 350.0
Cash flow
Depreciation 881.0 742.0 1'146.0 904.0 832.0
Cash flow 1'384.0 1'275.0 1'621.0 1'336.0 1'227.0
Cash flow from operating activities 1'761.0 1'709.0 1'626.0 1'515.0 1'155.0
Investments in tangible fixed assets 1'399.0 286.0 290.0 299.0 253.0
Cash flow from investing activities -3'116.0 -653.0 -2'055.0 -1'476.0 -1'351.0
Cash flow from financing activities 40.0 211.0 350.0 250.0 231.0
Others -5.0 -2.0 0.0 -29.0 1.0
Change in liquidity -1'320.0 1'265.0 -79.0 260.0 36.0
Liquidity at beginning of the year 1'762.0 497.0 576.0 316.0 280.0
Liquidity at end ot the year 442.0 1'762.0 497.0 576.0 316.0
Notes
Material costs 18'941.0 12'480.0 12'286.0 12'217.0 10'596.0
Cost of employees 3'998.0 3'141.0 3'175.0 3'017.0 2'698.0
Added value 5'644.0 4'683.0 5'065.0 4'611.0 4'091.0
Working Capital 1'308.0 1'168.0 1'273.0 1'319.0 1'228.0
Sales per Employee 0.4 0.4 0.4 0.4 0.4
Gross cost land and buildings 13'344.0 10'422.0 10'297.0 10'064.0 9'546.0
Gross cost other tangible fixed assets 4'190.0 3'482.0 3'312.0 3'144.0 2'941.0
Gross cost total 17'534.0 13'904.0 13'609.0 13'208.0 12'487.0
Insurance value total 16'788.0 13'289.0 13'080.0 12'581.0 11'788.0
Employees at
year end 75'296 53'559 52'974 53'880 48'200
Full time units at year end 64'507 43'925 44'154 41'550 38'230
Employees inland 75'296 53'559 52'974 53'880 48'200
Employees abroad 0 0 0 0 0
Offices 1'991 1'915 1'864 1'885 1'739
Offices inland 1'991 1'915 1'864 1'885 1'739
Offices abroad 0 0 0 0 0
It is believed that the
company has no investments.
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.
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 very good.
Payment experiences: There are no objections regarding the payment of financial
obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.89 |
|
UK Pound |
1 |
Rs.88.63 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
---- |
NB |
New Business |
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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.