|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PERLEN CONVERTING AG |
|
|
|
|
Registered Office : |
Perlenring 3 6035 Perlen/LU |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1949 |
|
|
|
|
Com. Reg. No.: |
100.3.015.968-8 / 319690 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Manufacture of plastic plates, sheets, tubes and profiles |
|
|
|
|
No. of Employees : |
150-249 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
3.0% 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
safe-haven 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 1.9% in 2011 and 0.8%
in 2012. 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 is
considering 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 |
PERLEN CONVERTING
AG
Operating address:
Perlenring 3
6035 Perlen/LU
Switzerland/CH
Telephone: 041
4558800
Fax: 041
4558801
Web site: http://www.perlenpackaging.ch
E-mail: info@perlenpackaging.com
VAT-No.: CHE106171907
Established: 1949
Line
of Business: Plastics
Industry
Division: Manufacturing
Industry-code (NACE): 2221 Manufacture of plastic plates, sheets,
tubes and profiles
2222 Manufacture of plastic packing goods
Import/Export: Export
Export
sales: 96,0%
Quality
certification: ISO 9001:2000 (since
2006)
ISO 14001:2004
(since 2006)
ISO
15378:2006 (since 2007)
Banks: unknown
Coverage: Company
Employees: 150-249
Sales: CHF 100-200 Mio
The company is active in film manufacturing and film coating for the
packaging industry. The processes and products are geared to the needs of the
pharmaceutical industry.
Products: Mono-Films, Barrier-Films, Anti-Counterfeit Films, Suppository
Films, Liquid Films, Ampoules/Syringe Films, Anti-microbial Coatings.
Real Estate: The
company does not appear to own any property.
Company
No: 100.3.015.968-8 /
319690
Legal
form: Company limited
by shares
Registration: 17.06.1993
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Luzern
History: Date of Incorporation
Statutes: 15.06.1993
Entry Deleted Name
active Perlen
Converting AG
Entry Deleted Legal domicile
active Root,
Switzerland
Entry Deleted Address
active 6035
Perlen/LU, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 4,000,000, paidup CHF 4,000,000
Entry Deleted Capital Structure
active 40,000
Registered shares of CHF 100,--
Entry Deleted Activity (original Language)
active Herstellung,
Verarbeitung und Vertrieb von sowie Handel mit Kunststoffkomplexen und -filmen
und verwandten Produkten; Erwerb, Verwaltung und Veräusserung von
Grundeigentum, Wertschriften, Beteiligungen sowie Immaterialgüterrechten.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Shares:
Die Namenaktien sind vinkuliert.
active Contribution
in kind/Asset takeover: Gemäss Sacheinlagevertrag vom 15.06.1993,
Abspaltungsbilanz per 31.12.1992 und detaillierten Listen vom 09.06.1993
übernahm die Gesellschaft von der Perlen Holding AG, in Perlen, Gemeinde Root,
den Geschäftsbereich "Converting" (Veredelung von Kunststoff-Folien
mittels Beschichtung, Kaschierung, Silikonisierung) mit Aktiven (inkl.
Grundstücke Nrn. 597 und 614, beide GB Root) von CHF 9'329'136.77 und Passiven
von CHF 5'329'136.77 zum Preis von CHF 4'000'000.--. Als Gegenleistung
erhielten die Sacheinlegerin 39'997 Namenaktien zu CHF 100.-- sowie Dr. Franz
J. Albrecht, von Sursee und Knutwil, in Winterthur, Dr. Urs Bänninger, von
Zürich, in Wollerau, und Hans Küher, von Leibstadt, in Buchrain, je 1 Namenaktie
zu CHF 100.--.
active Reports:
Mitteilungen erfolgen durch Brief.
Title Name
President Peter
Schaub, Origin: Zürich, Ormalingen, Switzerland, Residential address: Uster/ZH,
Switzerland, joint signature of two, Registered since: 01.09.2010
Vice-President Dr. Peter
Schildknecht, Origin: Teufen AR, Switzerland, Residential address: Meggen/LU,
Switzerland, joint signature of two, Registered since: 14.08.2009
Director Wolfgang
Grimm, Origin: Germany, Residential address: Meggen, Switzerland, joint
signature of two
Title Name
Chairman
of the management Wolfgang Grimm,
Origin: Germany, Residential address: Meggen, Switzerland, joint signature of
two
Member
of the management Johannes
Giessler, Origin: Germany, Residential address: Simonswald, Germany, joint
signature of two, Registered since: 08.01.2010
Member
of the management Peter Henz,
Origin: Bärschwil, Switzerland, Residential address: Buchrain, Switzerland,
joint signature of two, Registered since: 12.11.2012
Member
of the management Philipp
Morgenthaler, Origin: Wyssachen, Switzerland, Residential address:
Dietlikon/ZH, Switzerland, joint signature of two, Registered since: 06.10.2009
Title Name
Auditor Stephan
Revisions AG, Residential address: Muttenz, Switzerland, Id:
CH-280.3.910.548-5, Registered since: 17.12.2008
Title Name
Chief Executive Officer Wolfgang Grimm
Consolidation: consolidated (Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Operating revenue 106,497,0 105,730,0 101,695,0 97,896,0 112,547,0
Operating result 5,031,0 3,800,0 900,0 20,0 4,100,0
Capital 4,000,0 4,000,0 4,000,0 4,000,0 4,000,0
Cash flow 9,000,0 7,500,0 10,500,0
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: Local GAAP Local GAAP Local
GAAP Local GAAP Local GAAP
Intangible fixed
assets 1,473,0 2,948,0 3,754,0 5,615,0 6,224,0
Land and buildings 218,201,0 228,366,0 603,948,0 409,055,0 169,011,0
Other tangible
fixed assets 501,454,0 540,804,0 249,927,0 300,425,0 337,109,0
Tangible fixed
assets 719,655,0 769,170,0 853,875,0 709,480,0 506,120,0
Financial fixed
assets 10,020,0 25,504,0 25,357,0 25,564,0 24,915,0
other fixed assets 21,249,0 916,0 916,0 2,602,0 3,504,0
Fixed assets 752,397,0 798,538,0 883,902,0 743,261,0 540,763,0
Stocks 58,761,0 57,338,0 63,669,0 60,355,0 83,635,0
Trade accounts
receivable 73,994,0 75,623,0 60,932,0 67,164,0 90,809,0
Liquid assets 64,658,0 31,486,0 54,277,0 66,811,0 88,118,0
Securities 8,640,0 11,135,0 19,283,0 34,631,0 105,256,0
other trade
accounts 10,907,0 14,149,0 19,800,0 17,029,0 18,799,0
Accruals 3,024,0 3,865,0 4,612,0 5,370,0 7,416,0
Other current
assets 87,229,0 60,635,0 97,972,0 123,841,0 219,589,0
Current assets 219,984,0 193,596,0 222,573,0 251,360,0 394,033,0
Total assets 972,381,0 992,134,0 1,106,475,0 994,621,0 934,796,0
Capital 30,000,0 30,000,0 30,000,0 30,000,0 30,000,0
Other shareholders
funds 679,764,0 676,308,0 680,186,0 721,540,0 702,757,0
Total shareholders
equity 709,764,0 706,308,0 710,186,0 751,540,0 732,757,0
Minority interests 0,0 0,0 0,0 0,0 0,0
long term debt
(financial debts) 143,994,0 169,266,0 225,925,0 115,977,0 70,287,0
Provisions 31,317,0 32,026,0 40,572,0 54,045,0 56,192,0
Other non current
liabilities 547,0 627,0 411,0 1,239,0 1,822,0
Non current
liabilities 175,858,0 201,919,0 266,908,0 171,261,0 128,301,0
short term debt
(financial debts) 9,754,0 11,314,0 12,686,0 14,328,0 11,365,0
Trade accounts
payable 52,939,0 40,017,0 93,584,0 29,241,0 33,293,0
Provisions 5,727,0 12,922,0 10,867,0 12,709,0 12,368,0
Accruals 15,789,0 12,731,0 8,765,0 11,094,0 11,595,0
other accounts
payable 2,550,0 6,923,0 3,479,0 4,448,0 5,117,0
other current
liabilities 24,066,0 32,576,0 23,111,0 28,251,0 29,080,0
Current
liabilities 86,759,0 83,907,0 129,381,0 71,820,0 73,738,0
Shareh. equity,
min. interests + liabilities 972,381,0 992,134,0 1,106,475,0 994,621,0 934,796,0
Sales 509,863,0 607,440,0
Reduction of
proceeds 28,189,0 37,082,0
Net sales 488,691,0 520,932,0 417,396,0 481,674,0 570,358,0
Other operating
revenue 47,211,0 7,836,0 19,174,0 8,524,0 9,827,0
Operating revenue 535,902,0 528,768,0 436,570,0 490,198,0 580,185,0
Cost of goods sold 329,811,0 346,280,0 278,535,0 278,405,0 334,077,0
Gross profit 206,091,0 182,488,0 158,035,0 211,793,0 246,108,0
Other operating
expenses 194,403,0 202,465,0 188,695,0 203,278,0 213,957,0
Operating result 11,688,0 -19,977,0 -30,660,0 8,515,0 32,151,0
Interest revenues 206,0 112,0 186,0 655,0 1,146,0
other financial
revenues 775,0 791,0 654,0 5,596,0 3,285,0
Financial income 981,0 903,0 840,0 6,251,0 4,431,0
Interest expenses 6,545,0 11,212,0 5,038,0 3,036,0 3,054,0
other financial
expenses 544,0 1,832,0 5,184,0 1,317,0 13,998,0
Financial expenses 7,089,0 13,044,0 10,222,0 4,353,0 17,052,0
Financial result -6,108,0 -12,141,0 -9,382,0 1,898,0 -12,621,0
Result before
extraordinary items 5,580,0 -32,118,0 -40,042,0 10,413,0 19,530,0
Extraordinary
income 4,077,0 30,445,0 17,134,0 38,988,0 20,812,0
Extraordinary
expenses 0,0 18,765,0 3,815,0 12,507,0 2,832,0
Extraordinary
Result 4,077,0 11,680,0 13,319,0 26,481,0 17,980,0
Result before
taxes 9,657,0 -20,438,0 -26,723,0 36,894,0 37,510,0
Taxes 1,596,0 -2,447,0 -6,713,0 7,427,0 6,914,0
Result before
minority interests 8,061,0 -17,991,0 -20,010,0 29,467,0 30,596,0
minority interests 0,0 0,0 0,0 0,0 0,0
Result for the
financial year 8,061,0 -17,991,0 -20,010,0 29,467,0 30,596,0
Depreciation 60,336,0 66,792,0 59,518,0 62,003,0 58,831,0
Cash flow 68,397,0 48,801,0 39,508,0 91,470,0 89,427,0
Cash flow from
operating activities 40,757,0 -13,808,0 79,445,0 182,086,0 82,331,0
Investments in
tangible fixed assets 10,942,0 24,405,0 220,871,0 266,238,0 55,275,0
Cash flow from
investing activities 21,387,0 47,381,0 -196,147,0 -238,591,0 -53,471,0
Cash flow from
financing activities -29,046,0 -56,284,0 105,306,0 35,157,0 -2,706,0
Others 74,0 -80,0 -1,138,0 41,0 3,416,0
Change in
liquidity 33,172,0 -22,791,0 -12,534,0 -21,307,0 29,570,0
Liquidity at
beginning of the year 31,486,0 54,277,0 66,811,0 88,118,0 58,548,0
Liquidity at end
ot the year 64,658,0 31,486,0 54,277,0 66,811,0 88,118,0
Material costs 253,597,0 268,975,0 215,432,0 204,654,0 271,246,0
Cost of employees 84,889,0 93,165,0 89,320,0 95,671,0 103,331,0
Added value 161,427,0 150,731,0 127,153,0 197,604,0 202,726,0
Working Capital 79,816,0 92,944,0 31,017,0 98,278,0 141,151,0
Sales per Employee 575,6 610,7 443,6 497,6 570,9
Market
capitalisation 390,000,0 303,000,0 510,000,0 525,000,0 464,700,0
Gross cost land
and buildings 382,749,0 383,583,0 764,342,0 562,080,0 317,828,0
Gross cost other
tangible fixed assets 1,100,319,0 1,092,155,0 779,288,0 906,015,0 898,722,0
Gross cost total 1,483,068,0 1,475,738,0 1,543,630,0 1,468,095,0 1,216,550,0
Insurance value
land and buildings 348,926,0 424,929,0 490,002,0 394,507,0 392,584,0
Insurance value
other tang. fixed assets 1,254,287,0 1,331,707,0 1,345,688,0 1,120,232,0 1,094,009,0
Insurance value
total 1,603,213,0 1,756,636,0 1,835,690,0 1,514,739,0 1,486,593,0
Employees at year end 849 853 941 968 999
Employees inland 624 631 616 650 700
Employees abroad 225 222 325 318 299
Name: CPH
Chemie + Papier Holding AG
City/Country: Perlen/LU, Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Name: CPH
Chemie + Papier Holding AG
City/Country: Perlen/LU, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Name: Chemie
Uetikon AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: CPH
Chemie + Papier Holding GmbH
City/Country: Muellheim, Germany/DE
Name: CU
Agro AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: CU
Immobilien Lahr AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: Perlen
France Sarl
City/Country: Champigny sur Marne, France/FR
Name: Perlen
Papier AG
City/Country: Perlen/LU, Switzerland/CH
Name: Zeochem
AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: Zeowest
AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Class: 100%
Name: ac-Folien
GmbH
City/Country: Müllheim/Baden-Württemberg, Germany/DE
Interest: 100,00%
voting right, 100,00% capital interest (since 2007)
Class: 100%
Name: Perlen
Converting Llc
City/Country: Whippany/New Jersey, United States of America/US
Interest: 100,00%
voting right, 100,00% capital interest (since 2005)
Control date Year No. Amount CHF Status
22.03.2013 2013 0
22.03.2013 2012 0
22.03.2013 2011 0
22.03.2013 2010 0
22.03.2013 2009 0
22.03.2013 2008 0
26.07.2011 2007 0
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 Situation: The financial situation is good.
Payment experiences: Financial obligations are met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
---- |
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.