MIRA INFORM REPORT

 

 

Report Date :

01.11.2013

 

IDENTIFICATION DETAILS

 

Name :

LIEBHERR-COMPONENTS LTD

 

 

Registered Office :

Kirchweg 46, 5415 Nussbaumen/AG

 

 

Country :

Switzerland

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

2011

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

Consumer goods wholesale

 

 

No. of Employees :

4

 

 

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 :

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 – 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

Company name and address

 

Liebherr-Components Ltd.

 

Operating address:

Kirchweg 46

5415 Nussbaumen/AG

Switzerland/CH

 

Telephone:        056 2964300

Fax:                  056 2964301

 

Web site:          http://www.liebherr .com

E-mail:              info.cos@liebherr.com

 

WIN Worldbox No.:       CH0009261564

VAT-No.:                       CHE417579562

 

 

Profile

 

Established:                  2011

Line of Business:          Consumer goods wholesale

Industry Division:          Wholesale trade

Industry-code (NACE):   4669     Wholesale of other machinery and equipment

Import/Export:               Agency

Banks:                          unknown

 

 

Operational Figures

 

Coverage:         Company

Figures:            approximately

Employees:      4

Sales:               CHF 1-2 Mio

 

 

Activity

 

The company is a trading company responsible for the worldwide distribution of components and system solutions for the group of companies in the field of mechanical, hydraulic and electrical drive and control technology.

 

 

Real Estate

 

Real Estate:      The company owns no property.

 

 

Company Register

 

Company No:    400.3.034.927-6 / 1043598

Legal form:       Company limited by shares

Registration:     21.12.2011

Legal status:     active

Responsible Register:   Handelsregister des Kantons Aargau

History: Date of Incorporation Statutes: 08.12.2011

 

Entry    Deleted Name

21.12.2011                    Liebherr-Components Ltd.

21.12.2011                    Liebherr-Components AG (Name translated)

 

Entry    Deleted Legal domicile

21.12.2011                    Obersiggenthal, Switzerland

 

Entry    Deleted Address

21.12.2011                    Kirchweg 46, 5415 Nussbaumen AG/AG, Switzerland/CH

 

Entry    Deleted Capital

21.12.2011                    Share Capital CHF 1,000,000, paidup CHF 1,000,000

 

Entry    Deleted Capital Structure

21.12.2011                    1,000 Registered shares with restricted transferability of CHF 1,000.--

 

Entry    Deleted Activity (original Language)

21.12.2011                    Handel mit und Erbringung von Kundendienstleistungen für Waren aller Art, insbesondere von Gesellschaften der Firmengruppe Liebherr hergestellten Komponenten; kann auch Beteiligungen an Unternehmungen aller Art sowie Grundstücke erwerben, verwalten und veräussern, kann ihren Sitz verlegen und Zweigniederlassungen errichten.

 

Entry    Deleted Remarks (original Language)

21.12.2011                    Publishing authority: SHAB.

21.12.2011                    Shares: Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.

21.12.2011                    Reports: Mitteilungen an die Aktionäre erfolgen, soweit nicht das Gesetz etwas anderes vorsieht, schriftlich an die im Aktienbuch aufgeführten Adressen.

 

 

Official Administration

 

Title      Name

Director            Willi Liebherr, Origin: Obersiggenthal, Switzerland, Residential address: Nussbaumen/AG, Switzerland, single signature, Registered since: 21.12.2011

 

 

Management

 

Title      Name

Director            Pietro Iemmi, Origin: Italy, Residential address: Parma, Italy, single signature, Registered since: 07.03.2012

Member with procuration            Oliver Wennheller, Origin: Germany, Residential address: Leutkirch i.A., Germany, joint power of attorney of two, Registered since: 26.04.2012

 

 

External Positions

 

Title      Name

Auditor Honold Treuhand AG, Residential address: Zürich, Switzerland, Id: CHE-101.313.494, Registered since: 21.12.2011

 

 

Executive board

 

Title      Name

Chief Executive Officer  Pietro Iemmi

 

 

Financial Data Liebherr International

 

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. EUR             th. EUR             th. EUR             th. EUR                         th. EUR

Statement norm:            IAS                   IAS                   IAS                   IAS                               IAS

 

Balance Sheet

 

 

 

 

 

Intangible fixed assets

32,212.0

22,615.0

18,752.8

16,898.4

20,465.7

Land and buildings

1,480,995.0

1,345,944.0

1,140,677.2

989,588.9

868,360.7

Other tangible fixed assets

1,605,055.0

1,515,990.0

1,633,023.6

1,625,746.5

1,543,648.1

Tangible fixed assets

3,086,050.0

2,861,934.0

2,773,700.8

2,615,335.4

2,412,008.8

Financial fixed assets

211,733.0

184,283.0

169,594.3

151,061.7

129,802.1

Fixed assets

3,329,995.0

3,068,832.0

2,962,047.9

2,783,295.5

2,562,276.6

Stocks

3,614,581.0

3,212,908.0

2,608,505.0

2,394,430.6

2,571,475.3

Trade accounts receivable

1,512,299.0

1,364,978.0

1,244,736.1

1,094,053.0

1,361,388.5

Liquid assets

1,274,629.0

1,382,184.0

1,207,936.7

1,099,754.5

986,447.0

Securities

930,626.0

1,093,327.0

1,038,825.7

1,008,403.3

802,340.0

other trade accounts

488,892.0

498,703.0

550,196.6

464,603.7

509,287.0

Accruals

18,452.0

15,671.0

12,965.4

11,173.3

14,918.2

Other current assets

2,712,599.0

2,989,885.0

2,809,924.4

2,583,934.8

2,312,992.2

Current assets

7,839,479.0

7,567,771.0

6,663,165.5

6,072,418.4

6,245,856.0

Total assets

11,169,474.0

10,636,603.0

9,625,213.4

8,855,713.9

8,808,132.6

 

 

 

 

 

 

Capital

62,000.0

62,000.0

62,000.0

62,000.0

62,000.0

Other shareholders funds

6,283,316.0

5,829,231.0

5,483,820.0

4,890,691.9

4,511,966.6

Total shareholders equity

6,345,316.0

5,891,231.0

5,545,820.0

4,952,691.9

4,573,966.6

Minority interests

11,823.0

12,370.0

10,797.6

3,107.3

3,228.8

long term debt (financial debts)

607,919.0

985,475.0

931,190.4

762,981.8

747,736.8

Provisions

45,804.0

51,058.0

445,012.5

431,833.1

424,257.5

Other non current liabilities

596,720.0

596,349.0

240,411.0

255,849.3

230,954.0

Non current liabilities

1,250,443.0

1,632,882.0

1,616,613.9

1,450,664.2

1,402,948.3

short term debt (financial debts)

1,411,352.0

931,222.0

555,285.0

760,917.5

648,404.0

Trade accounts payable

665,077.0

1,072,060.0

908,669.4

845,030.3

1,218,107.5

Provisions

586,227.0

538,895.0

526,119.7

427,733.8

426,457.6

Accruals

0.0

35,057.0

15,963.7

13,575.6

14,264.7

other accounts payable

899,236.0

522,886.0

445,944.1

401,993.3

520,755.1

other current liabilities

1,485,463.0

1,096,838.0

988,027.5

843,302.7

961,477.4

Current liabilities

3,561,892.0

3,100,120.0

2,451,981.9

2,449,250.5

2,827,988.9

Shareh. equity, min. interests + liabilities

11,169,474.0

10,636,603.0

9,625,213.4

8,855,713.9

8,808,132.6

 

 

 

 

 

 

Profit and loss account

 

 

 

 

 

Sales

 

8,333,535.0

7,587,070.6

6,961,114.9

8,407,609.0

Reduction of proceeds

 

-390,298.0

-54,250.7

72,321.5

-217,514.0

Net sales

9,090,200.0

8,723,833.0

7,641,321.3

6,888,793.4

8,625,123.0

Other operating revenue

920,336.0

527,604.0

370,367.9

351,471.8

286,653.8

Operating revenue

10,010,536.0

9,251,437.0

8,011,689.2

7,240,265.2

8,911,776.8

Cost of goods sold

5,089,869.0

4,811,934.0

4,085,094.6

3,739,852.2

4,766,981.2

Gross profit

4,920,667.0

4,439,503.0

3,926,594.6

3,500,413.0

4,144,795.6

Other operating expenses

4,159,378.0

3,692,180.0

3,321,228.0

3,069,040.2

3,228,266.9

Operating result

761,289.0

747,323.0

605,366.6

431,372.8

916,528.7

Financial income

419,949.0

409,422.0

468,869.2

492,875.1

376,578.0

Financial expenses

366,595.0

449,441.0

416,089.0

374,060.7

687,321.7

Financial result

53,354.0

-40,019.0

52,780.2

118,814.4

-310,743.7

Result before extraordinary items

814,643.0

707,304.0

658,146.8

550,187.2

605,785.0

Extraordinary income

0.0

0.0

0.0

0.0

0.0

Extraordinary expenses

0.0

0.0

0.0

0.0

0.0

Extraordinary Result

0.0

0.0

0.0

0.0

0.0

Result before taxes

814,643.0

707,304.0

658,146.8

550,187.2

605,785.0

Taxes

265,138.0

222,929.0

163,960.4

162,225.7

249,160.7

Result before minority interests

549,505.0

484,375.0

494,186.4

387,961.5

356,624.3

minority interests

2,128.0

3,847.0

3,537.0

-82.7

105.2

Result for the financial year

547,377.0

480,528.0

490,649.4

388,044.2

356,519.1

 

 

 

 

 

 

Cash flow

 

 

 

 

 

Depreciation

434,377.0

376,293.0

348,355.1

333,307.4

303,956.0

Cash flow

983,882.0

860,668.0

842,541.5

721,268.9

660,580.3

Cash flow from operating activities

197,085.0

338,343.0

515,273.0

689,389.0

189,418.0

Investments in tangible fixed assets

502,917.0

381,841.0

349,791.0

636,400.0

914,900.0

Cash flow from investing activities

-279,862.0

-480,629.0

-352,563.0

-628,900.0

-535,340.0

Cash flow from financing activities

-23,073.0

309,167.0

-103,213.0

45,808.0

371,938.0

Others

-1,705.0

7,006.0

48,686.0

7,010.0

34,665.0

Change in liquidity

-107,555.0

173,887.0

108,183.0

113,307.0

60,681.0

Liquidity at beginning of the year

1,382,184.0

1,207,937.0

1,099,754.0

986,447.0

925,766.0

Liquidity at end ot the year

1,274,629.0

1,381,824.0

1,207,937.0

1,099,754.0

986,447.0

 

 

 

 

 

 

Notes

 

 

 

 

 

Material costs

5,089,869.0

4,412,918.0

3,777,184.5

3,492,511.8

4,475,962.2

Cost of employees

1,987,916.0

1,777,004.0

1,285,935.9

1,508,590.6

1,515,238.0

Added value

3,236,936.0

2,860,601.0

2,292,437.8

2,392,085.2

2,424,979.0

Working Capital

4,461,803.0

3,505,826.0

2,944,571.7

2,643,453.3

2,714,756.3

Sales per Employee

240.5

246.9

230.1

214.7

264.6

Gross cost land and buildings

2,173,133.0

1,931,855.0

1,662,350.0

1,444,796.0

1,263,836.0

Gross cost other tangible fixed assets

3,417,531.0

3,245,202.0

3,233,310.0

3,055,924.0

2,845,917.0

Gross cost total

5,590,664.0

5,177,057.0

4,895,660.0

4,500,720.0

4,109,753.0

 

 

 

 

 

 

Employees  at year end

37,801

35,333

32,979

32,091

32,600

Employees inland

1,276

1,195

1,055

1,007

998

Employees abroad

36,525

34,138

31,924

31,084

31,602

 

 

Ultimate Parent Company

 

Name:   LIEBHERR-INTERNATIONAL S.A.

City/Country:     Bulle/FR, Switzerland/CH

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:  The company is domestic owned.

 

Class:   100%

Type:    indirect, Group-Level 1

Name:   LIEBHERR-INTERNATIONAL S.A.

City/Country:     Bulle/FR, Switzerland/CH

Interest:            100,00% voting right, 100,00% capital interest

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

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 very good.

 

Payment experiences:   Payments are made with arranged conditions.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.49

UK Pound

1

Rs.98.71

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

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.