|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MASCHINENFABRIK
RIETER AG |
|
|
|
|
Registered Office : |
Klosterstrasse 20 8406 Winterthur/ZH |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.07.1952 |
|
|
|
|
Com. Reg. No.: |
020.3.916.776-1 / 153459 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Manufacture of machinery for textile, apparel
and leather production |
|
|
|
|
No. of Employees |
1,300 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 began to recover in 2010. 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 below 2% per year during 2011-13. 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 |
Maschinenfabrik Rieter AG
Klosterstrasse 20
8406 Winterthur/ZH
Switzerland/CH
Telephone: 052
2087171
Fax: 052
2087100
Web site: http://www.rieter.com
E-mail: info@rieter.com
WIN Worldbox No.: CH0000045427
VAT-No.: CHE105788761
Established: 1795
History: 1795: Established as J.J. Rieter Baumwoll- und
Kolonialwarenhandel
Line of Business: Machinery
Industry Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Export
Banks: UBS
Ltd
CS
Credit Suisse
Coverage: Company
Figures: approximately
Employees: 1,300
Sales: CHF
280,000,000.--
Rieter is a leading supplier on the world market
for textile machinery and components used in short staple fiber spinning. The
company develops and manufactures systems, machinery and technology components
used to convert natural and manmade fibers and their blends into yarns. Rieter
is the only supplier worldwide to cover spinning preparation processes as well
as all four final spinning processes currently established on the market. The
company has 18 manufacturing locations in 10 countries.
Real Estate: The
company owns extensive property.
Company No: 020.3.916.776-1
/ 153459
Legal form: Company
limited by shares
Registration: 01.07.1952
Legal status: active
Responsible Register: Handelsregister
des Kantons Zürich (since 07.05.1985)
History: Date
of Statutes: 31.03.2009
Date
of Statutes: 30.10.2008
Date
of Statutes: 10.03.2004
Date
of Statutes: 21.08.1995
Date
of Statutes: 29.04.1985
Entry Deleted Name
active Maschinenfabrik
Rieter AG
active Rieter
Machine Works Ltd (Name translated)
active Ateliers
de Construction Rieter SA (Name translated)
active Fabbrica
di Macchine Rieter SA (Name translated)
active Fàbrica
de Máquinas Rieter SA (Name translated)
Entry Deleted Legal domicile
active Winterthur,
Switzerland
Entry Deleted Address
active Klosterstrasse
20, 8406 Winterthur/ZH, Switzerland/CH
Entry Deleted Capital
09.07.2004 Share
Capital CHF 8,500,000, paidup CHF 8,500,000
Entry Deleted Capital Structure
09.07.2004 85,000
Registered shares of CHF 100.--
Title Name
President Joris
Gröflin-Liebherr, Origin: Basel, Switzerland, Residential address: 8000
Zürich/ZH, Switzerland, joint signature of two, Registered since: 28.06.2011
Director Thomas
Anwander, Origin: Winterthur, Switzerland, Residential address: 8400
Winterthur/ZH, Switzerland, born: 19.02.1960, joint signature of two
Director Peter
Müller, Origin: Rohrbach, Switzerland, Residential address: 8400 Winterthur/ZH,
Switzerland, joint signature of two
Title Name
Member with signing authority Markus
Bischof, Origin: Eggersriet, Switzerland, Residential address: Kaltbrunn,
Switzerland, joint signature of two, Registered since: 02.02.2012
Member with signing authority Troy
Michael Cooley, Origin: Germany, Residential address: Aristau, Switzerland,
joint signature of two, Registered since: 26.06.2012
Member with signing authority Martin
Deflorin, Origin: Disentis/Mustér, Switzerland, Residential address: Stäfa/ZH,
Switzerland, joint signature of two, Registered since: 02.02.2012
Member with signing authority Alper
Düzel, Origin: Winterthur, Switzerland, Residential address: Winterthur,
Switzerland, joint signature of two, Registered since: 24.08.2012
Member with signing authority David
H. Gehring, Origin: Buchberg, Switzerland, Residential address: Winterthur,
Switzerland, joint signature of two, Registered since: 29.07.2013
Member with signing authority Niklaus
Heimberg, Origin: Oberwil im Simmental, Switzerland, Residential address:
Bannwil, Switzerland, joint signature of two, Registered since: 15.11.2011
Member with signing authority Franz
Hug, Origin: Germany, Residential address: Gottmadingen , Germany, joint
signature of two, Registered since: 16.11.2012
Member with signing authority René
Meier, Origin: Baldingen, Switzerland, Residential address: Wiesendangen,
Switzerland, joint signature of two, Registered since: 02.02.2012
Member with signing authority Walter
Merri, Origin: Arbon, Switzerland, Residential address: Gossau/SG, Switzerland,
joint signature of two, Registered since: 05.11.2013
Member with signing authority Andreas
Parpan, Origin: Vaz/Obervaz, Switzerland, Residential address: Jenins,
Switzerland, joint signature of two, Registered since: 20.03.2012
Member with signing authority Fabio
Patera, Origin: Zürich, Switzerland, Residential address: Rümlang/ZH,
Switzerland, joint signature of two, Registered since: 05.06.2012
Member with signing authority Patrick
Senn, Origin: Wald BE, Switzerland, Residential address: Schalunen,
Switzerland, joint signature of two, Registered since: 24.08.2012
Member with signing authority Thomas
Speck, Origin: Appenzell, Switzerland, Residential address: Lachen,
Switzerland, joint signature of two, Registered since: 23.07.2012
Member with signing authority Alexander
Stampfer, Origin: Germany, Residential address: Ingoldstadt, Germany, joint
signature of two, Registered since: 11.10.2012
Member with signing authority Thomas
Stäubli, Origin: Magden, Switzerland, Residential address: Magden, Switzerland,
joint signature of two, Registered since: 19.08.2011
Member with signing authority Werner
Strasser, Origin: Nussbaumen, Winterthur, Switzerland, Residential address:
Steckborn, Switzerland, joint signature of two
Member with signing authority Reto
Thom, Origin: Susch, Switzerland, Residential address: Seuzach, Switzerland,
born: 04.01.1959, joint signature of two
Member with procuration Nicole
Balhuber, Origin: Zürich, Switzerland, Residential address: 8000 Zürich/ZH,
Switzerland, joint power of attorney of two, Registered since: 14.02.2011
Member with procuration Antonina
Di Mario, Origin: Winterthur, Switzerland, Residential address: 8400
Winterthur/ZH, Switzerland, joint power of attorney of two, Registered since:
11.09.2009
Member with procuration Andreas
Haase, Origin: Thalwil, Switzerland, Residential address: Thalwil, Switzerland,
joint power of attorney of two, Registered since: 17.12.2013
Member with procuration Rudolf
Härdi, Origin: Schlossrued, Switzerland, Residential address: 5616
Meisterschwanden/AG, Switzerland, joint power of attorney of two, Registered
since: 02.12.2009
Member with procuration Nanette
Susanne Haubensak, Origin: Germany, Residential address: 8001 Zürich/ZH,
Switzerland, joint power of attorney of two, Registered since: 14.07.2010
Member with procuration Marc
Heim, Origin: Thun, Switzerland, Residential address: Nürensdorf, Switzerland,
joint power of attorney of two, Registered since: 30.11.2010
Member with procuration Björn
Gunnar Johansson, Origin: Sweden, Residential address: 8400 Winterthur/ZH,
Switzerland, joint power of attorney of two, Registered since: 30.11.2010
Member with procuration Carsten
Liske, Origin: Germany, Residential address: Freienbach , Switzerland, joint
power of attorney of two, Registered since: 22.10.2009
Member with procuration Kurt
Lüttinger, Origin: Winterthur, Switzerland, Residential address: 8400 Winterthur/ZH,
Switzerland, joint power of attorney of two, Registered since: 24.03.2010
Member with procuration Felix
Scherrer, Origin: Zürich, Switzerland, Residential address: Zumikon,
Switzerland, joint power of attorney of two, Registered since: 29.08.2011
Member with procuration Heinz
Schmid, Origin: Waltalingen, Switzerland, Residential address: Wil/SG,
Switzerland, joint power of attorney of two, Registered since: 29.01.2009
Member with procuration Peter
Schulz, Origin: Germany, Residential address: Maxhütte-Haidhof, Germany, joint
power of attorney of two, Registered since: 02.12.2009
Member with procuration Reto
Starkenmann, Origin: Winterthur, Switzerland, Residential address: 8478
Thalheim an der Thur/ZH, Switzerland, joint power of attorney of two,
Registered since: 14.02.2011
Member with procuration Gerlad
Steiner, Origin: Sursee, Switzerland, Residential address: 8302 Kloten/ZH,
Switzerland, joint power of attorney of two, Registered since: 24.03.2010
Member with procuration Matthias
Stüssi, Origin: Niederurnen, Switzerland, Residential address: 8451
Kleinandelfingen/ZH, Switzerland, joint power of attorney of two, Registered
since: 02.02.2010
Member with procuration Arne
Thielemann, Origin: Germany, Residential address: Lengwil, Switzerland, joint
power of attorney of two
Member with procuration Urs
Tschanz, Origin: Wichtrach, Switzerland, Residential address: 8239
Dörflingen/SH, Switzerland, joint power of attorney of two, Registered since:
28.06.2011
Member with procuration Christoph
Wäger, Origin: Adliswil, Switzerland, Residential address: 9100 Herisau/AR,
Switzerland, joint power of attorney of two, Registered since: 28.06.2011
Member with procuration Edda
Walraf, Origin: Oberhelfenschwil, Switzerland, Residential address:
Pfäffikon/ZH, Switzerland, joint power of attorney of two
Member with procuration Andreas
Zanini, Origin: Sarmenstorf, Switzerland, Residential address: Embrach,
Switzerland, joint power of attorney of two
Member with procuration Rolf
Zimmermann, Origin: Elsau, Switzerland, Residential address: Schwerzenbach,
Switzerland, joint power of attorney of two, Registered since: 29.01.2009
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland, Id: CHE-106.839.438
Title Name
Chief Financial Officer Peter
Müller
Chief Marketing Officer Edda
Walraf
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
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
Intangible fixed
assets 25,600.0 20,100.0 9,500.0 15,200.0 23,000.0
Land and buildings 133,400.0 133,200.0 118,600.0 232,400.0 264,100.0
Other tangible fixed
assets 128,700.0 125,100.0 109,000.0 373,700.0 431,900.0
Tangible fixed
assets 262,100.0 258,300.0 227,600.0 606,100.0 696,000.0
Financial fixed
assets 2,900.0 2,700.0 78,400.0 175,600.0 164,000.0
other fixed assets 80,500.0 75,200.0 6,500.0 5,300.0 3,500.0
Fixed assets 371,100.0 356,300.0 322,000.0 802,200.0 886,500.0
Stocks 233,000.0 229,300.0 234,800.0 328,400.0 266,000.0
Trade accounts
receivable 94,100.0 91,100.0 84,100.0 381,500.0 331,500.0
Liquid assets 360,800.0 342,600.0 408,300.0 351,900.0 217,700.0
Securities 8,900.0 9,300.0 7,300.0 7,100.0 13,000.0
other trade accounts 40,900.0 36,900.0 49,200.0 86,200.0 92,400.0
Accruals 5,200.0 4,600.0 5,700.0 11,800.0 7,000.0
Other current assets 415,800.0 393,400.0 470,500.0 457,000.0 330,100.0
Current assets 742,900.0 713,800.0 789,400.0 1,166,900.0 927,600.0
Total assets 1,114,000.0 1,070,100.0 1,111,400.0 1,969,100.0 1,814,100.0
Capital 23,400.0 23,400.0 23,400.0 23,400.0 23,400.0
Other shareholders
funds 365,800.0 348,400.0 355,900.0 533,500.0 563,800.0
Total shareholders
equity 389,200.0 371,800.0 379,300.0 556,900.0 587,200.0
Minority interests 500.0 5,000.0 8,400.0 70,700.0 68,600.0
long term debt
(financial debts) 183,600.0 249,600.0 253,500.0 296,300.0 140,700.0
Provisions 104,500.0 104,700.0 104,300.0 180,700.0 182,200.0
Other non current
liabilities 32,900.0 32,400.0 42,300.0 80,100.0 76,400.0
Non current
liabilities 321,000.0 386,700.0 400,100.0 557,100.0 399,300.0
short term debt
(financial debts) 44,800.0 6,700.0 3,100.0 66,200.0 81,700.0
Trade accounts
payable 96,000.0 97,300.0 176,200.0 426,700.0 226,800.0
Provisions 30,400.0 37,800.0 38,600.0 89,000.0 174,300.0
Accruals 61,500.0 53,900.0 64,100.0 104,300.0 115,700.0
other accounts
payable 170,600.0 110,900.0 41,600.0 98,200.0 160,500.0
other current
liabilities 262,500.0 202,600.0 144,300.0 291,500.0 450,500.0
Current liabilities 403,300.0 306,600.0 323,600.0 784,400.0 759,000.0
Shareh. equity, min.
interests + liabilities 1,114,000.0 1,070,100.0 1,111,400.0 1,969,100.0 1,814,100.0
Sales 2,585,800.0 1,956,300.0
Reduction of
proceeds 96,400.0 73,600.0
Net sales 1,035,300.0 888,500.0 1,060,800.0 2,489,400.0 1,882,700.0
Other operating
revenue 53,400.0 36,900.0 70,600.0 66,100.0 -36,200.0
Operating revenue 1,088,700.0 925,400.0 1,131,400.0 2,555,500.0 1,846,500.0
Cost of goods sold 525,400.0 412,100.0 497,800.0 1,213,200.0 885,100.0
Gross profit 563,300.0 513,300.0 633,600.0 1,342,300.0 961,400.0
Other operating
expenses 503,100.0 479,700.0 521,000.0 1,244,300.0 1,148,000.0
Operating result 60,200.0 33,600.0 112,600.0 98,000.0 -186,600.0
Interest revenues 1,800.0 1,800.0 6,900.0 2,800.0 4,000.0
other financial
revenues 8,500.0 18,400.0 52,300.0 800.0 700.0
Financial income 10,300.0 20,200.0 59,200.0 3,600.0 4,700.0
Interest expenses 15,800.0 15,400.0 17,100.0 29,400.0 27,600.0
other financial
expenses 2,200.0 3,300.0 16,700.0 5,400.0 2,000.0
Financial expenses 18,000.0 18,700.0 33,800.0 34,800.0 29,600.0
Financial result -7,700.0 1,500.0 25,400.0 -31,200.0 -24,900.0
Result before
extraordinary items 52,500.0 35,100.0 138,000.0 66,800.0 -211,500.0
Extraordinary income 151,000.0
Extraordinary Result 0.0 0.0 151,000.0 0.0 0.0
Result before taxes 52,500.0 35,100.0 289,000.0 66,800.0 -211,500.0
Taxes 15,100.0 8,600.0 19,000.0 25,200.0 6,000.0
Result before
minority interests 37,400.0 26,500.0 270,000.0 41,600.0 -217,500.0
minority interests -2,000.0 -3,000.0 2,800.0 15,100.0 6,400.0
Result for the
financial year 39,400.0 29,500.0 267,200.0 26,500.0 -223,900.0
Depreciation 35,000.0 33,200.0 33,900.0 124,800.0 140,900.0
Cash flow 72,400.0 59,700.0 303,900.0 166,400.0 -76,600.0
Cash flow from
operating activities 107,700.0 9,300.0 10,100.0 106,100.0 -1,600.0
Investments in
tangible fixed assets 55,000.0 81,600.0 57,300.0 98,200.0 61,700.0
Cash flow from
investing activities -46,600.0 -41,600.0 -21,500.0 -92,500.0 -33,200.0
Cash flow from
financing activities -40,000.0 -31,800.0 71,200.0 129,300.0 -27,800.0
Others -2,900.0 -1,600.0 -3,400.0 -8,700.0 -2,300.0
Change in liquidity 18,200.0 -65,700.0 56,400.0 134,200.0 -64,900.0
Liquidity at
beginning of the year 342,600.0 408,300.0 351,900.0 217,700.0 282,600.0
Liquidity at end ot
the year 360,800.0 342,600.0 408,300.0 351,900.0 217,700.0
Material costs 525,400.0 412,100.0 497,800.0 1,213,200.0 885,100.0
Cost of employees 296,700.0 278,900.0 302,300.0 764,700.0 693,000.0
Research and
Development 45,000.0 42,700.0 39,500.0 93,900.0 98,700.0
Orders received 1,259,400.0 839,700.0 958,300.0 3,170,000.0 1,935,100.0
Added value 400,000.0 362,600.0 642,300.0 985,700.0 650,000.0
Working Capital 231,100.0 223,100.0 142,700.0 283,200.0 370,700.0
Sales per Employee 286.9 250.8 213.1 194.4 147.5
Market
capitalisation 963,700.0 736,700.0 653,200.0 1,565,800.0 1,084,500.0
Gross cost land and
buildings 271,100.0 270,000.0 257,000.0 495,600.0 543,700.0
Gross cost other
tangible fixed assets 477,000.0 472,700.0 473,000.0 1,541,300.0 1,774,200.0
Gross cost total 748,100.0 742,700.0 730,000.0 2,036,900.0 2,317,900.0
Insurance value land
and buildings 566,400.0 540,900.0 539,800.0 1,024,200.0 1,353,400.0
Employees at year end 3,609 3,542 4,695 12,804 12,761
Employees inland 1,536 1,660
Employees abroad 11,268 11,101
Name: Rieter
Holding AG
City/Country: Winterthur/ZH,
Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Type: indirect,
Group-Level 1
Name: Rieter
Holding AG
City/Country: Winterthur/ZH,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
It is believed that the company has no
investments.
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Control date Year No. Amount CHF Status
17.10.2013 2013 1 87.-- Legal actions
17.10.2013 2012 0
17.10.2013 2011 0
17.10.2013 2010 1 4,740.-- Legal actions
17.10.2013 2009 1 59,597.-- Legal actions
17.10.2013 2008 0
Official bankruptcy reports:
No bankruptcy publications available on the
subject.
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 good.
Payment experiences: Payment
habits are considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.