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Report Date : |
01.07.2014 |
IDENTIFICATION DETAILS
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Name : |
LIEBHERR-EXPORT
AG |
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Registered Office : |
General Guisan-Strasse 14 5415
Nussbaumen/AG Switzerland/CH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
27.06.1973 |
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Com. Reg. No.: |
400.3.000.784-2 / 107559 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
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No. of Employees |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
LIEBHERR-EXPORT AG
General
Guisan-Strasse 14
5415 Nussbaumen/AG
Switzerland/CH
Telephone: 056
2961111
Fax: 056
2963900
Web
site: http://www.liebherr.com
E-mail: info@liebherr.com
WIN
Worldbox No.: CH0000090236
VAT-No.: CHE107102955
Established: 1949
Line
of Business: Industrial goods
wholesale, Consumer goods wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4663 Wholesale of mining, construction and
civil engineering machinery
4661 Wholesale of agricultural machinery,
equipment and supplies
4649 Wholesale of other household goods
Import/Export: Import, Export
Banks: UBS Ltd
Coverage: Company
Figures: approximately
Employees: 140
Sales: CHF 100-200 Mio
The business activities includes trading in
construction and machine tools of the Liebherr Group.
The range includes machines from the
following areas:
Domestic appliances
Commercial Refrigeration & Freezing
Mobile cranes
Crawler Cranes
Port Equipment
Maritime Cranes
Deep Foundation Machines
Tower Cranes
Mobile construction cranes
Concrete technology
Earthmoving Equipment
Attachments
Mining Equipment
Material handling equipment
Aerospace
Machine tools
Automation Systems
Components
Transportation Systems
Real
Estate: The company does
not appear to own any property.
Company
No: 400.3.000.784-2 / 107559
Legal
form: Company limited by
shares
Registration: 27.06.1973
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Aargau
History: Date of Statutes:
29.12.1983
Date of
Statutes: 30.06.1997
Date of
Incorporation Statutes: 25.06.1973
Entry Deleted Name
active Liebherr-Export
AG
active Liebherr-Export
Ltd (Name translated)
active Liebherr-Export
SA (Name translated)
Entry Deleted Legal domicile
active Obersiggenthal,
Switzerland
Entry Deleted Address
active General
Guisan-Strasse 14, 5415 Nussbaumen/AG, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 10,000,000, paidup CHF 10,000,000
Entry Deleted Capital Structure
active 10,000
Registered shares of CHF 1,000.--
Title Name
President Willi
Liebherr, Origin: Obersiggenthal, Switzerland, Residential address:
Obersiggenthal, Switzerland, single signature
Director Dr. Beat
M. Fenner, Origin: Zürich, Switzerland, Residential address: Zumikon,
Switzerland, joint signature of two, Registered since: 25.09.2000
Director Isolde
Liebherr, Origin: Bulle, Switzerland, Residential address: Bulle, Switzerland,
joint signature of two, Registered since: 13.03.2000
Title Name
Director Rudolf
Arnold, Origin: Germany, Residential address: München, Germany, joint signature
of two, Registered since: 15.08.2006
Director Steffen
Nagel, Origin: Germany, Residential address: Islisberg, Switzerland, joint
signature of two, Registered since: 12.03.2002
Director Martin
Stein, Origin: Germany, Residential address: Waldshut-Tiengen, Germany, joint
signature of two, Registered since: 05.04.2001
Vice-Director Markus Müller,
Origin: Germany, Residential address: Lauchringen , Germany, joint power of
attorney of two, Registered since: 02.02.2010
Member
with procuration Axel Dölcken,
Origin: Germany, Residential address: Breisach am Rhein, Germany, joint power
of attorney of two, Registered since: 02.02.2010
Member
with procuration Roland
Henseler, Origin: Udligenswil, Switzerland, Residential address: Zufikon,
Switzerland, born: 01.01.1959, joint power of attorney of two, Registered
since: 15.07.2002
Member
with procuration René Scherer,
Origin: Obersiggenthal, Switzerland, Residential address: Fislisbach,
Switzerland, joint power of attorney of two, Registered since: 12.03.2002
Member
with procuration Michael
Sucker, Origin: Germany, Residential address: Ravensburg, Germany, joint power
of attorney of two, Registered since: 03.09.2012
Title Name
Auditor Honold
Treuhand AG, Residential address: Zürich, Switzerland
Title Name
Chief
Executive Officer Martin
Stein
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.
EUR th. EUR th. EUR th. EUR th.
EUR
Statement norm: IAS IAS IAS IAS
Intangible fixed
assets 40,869.0 32,212.0 22,615.0 18,752.8 16,898.4
Land and buildings 1,511,727.0 1,480,995.0 1,345,944.0 1,140,677.2 989,588.9
Other tangible
fixed assets 1,713,889.0 1,605,055.0 1,515,990.0 1,633,023.6 1,625,746.5
Tangible fixed
assets 3,225,616.0 3,086,050.0 2,861,934.0 2,773,700.8 2,615,335.4
Financial fixed
assets 254,110.0 211,733.0 184,283.0 169,594.3 151,061.7
Fixed assets 3,520,595.0 3,329,995.0 3,068,832.0 2,962,047.9 2,783,295.5
Stocks 3,543,495.0 3,614,581.0 3,212,908.0 2,608,505.0 2,394,430.6
Trade accounts
receivable 1,518,132.0 1,512,299.0 1,364,978.0 1,244,736.1 1,094,053.0
Liquid assets 1,433,312.0 1,274,629.0 1,382,184.0 1,207,936.7 1,099,754.5
Securities 1,026,782.0 930,626.0 1,093,327.0 1,038,825.7 1,008,403.3
other trade
accounts 460,069.0 488,892.0 498,703.0 550,196.6 464,603.7
Accruals 16,491.0 18,452.0 15,671.0 12,965.4 11,173.3
Other current
assets 2,936,654.0 2,712,599.0 2,989,885.0 2,809,924.4 2,583,934.8
Current assets 7,998,281.0 7,839,479.0 7,567,771.0 6,663,165.5 6,072,418.4
Total assets 11,518,876.0 11,169,474.0 10,636,603.0 9,625,213.4 8,855,713.9
Capital 62,000.0 62,000.0 62,000.0 62,000.0 62,000.0
Other shareholders
funds 6,369,757.0 6,283,316.0 5,829,231.0 5,483,820.0 4,890,691.9
Total shareholders
equity 6,431,757.0 6,345,316.0 5,891,231.0 5,545,820.0 4,952,691.9
Minority interests 9,800.0 11,823.0 12,370.0 10,797.6 3,107.3
long term debt
(financial debts) 1,403,461.0 607,919.0 985,475.0 931,190.4 762,981.8
Provisions 48,061.0 45,804.0 51,058.0 445,012.5 431,833.1
Other non current
liabilities 648,534.0 596,720.0 596,349.0 240,411.0 255,849.3
Non current
liabilities 2,100,056.0 1,250,443.0 1,632,882.0 1,616,613.9 1,450,664.2
short term debt
(financial debts) 838,479.0 1,411,352.0 931,222.0 555,285.0 760,917.5
Trade accounts
payable 634,092.0 665,077.0 1,072,060.0 908,669.4 845,030.3
Provisions 569,723.0 586,227.0 538,895.0 526,119.7 427,733.8
Accruals 0.0 0.0 35,057.0 15,963.7 13,575.6
other accounts
payable 934,969.0 899,236.0 522,886.0 445,944.1 401,993.3
other current
liabilities 1,504,692.0 1,485,463.0 1,096,838.0 988,027.5 843,302.7
Current
liabilities 2,977,263.0 3,561,892.0 3,100,120.0 2,451,981.9 2,449,250.5
Shareh. equity,
min. interests + liabilities 11,518,876.0 11,169,474.0 10,636,603.0 9,625,213.4 8,855,713.9
Sales 8,333,535.0 7,587,070.6 6,961,114.9
Reduction of
proceeds -390,298.0 -54,250.7 72,321.5
Net sales 8,963,626.0 9,090,200.0 8,723,833.0 7,641,321.3 6,888,793.4
Other operating
revenue 522,012.0 920,336.0 527,604.0 370,367.9 351,471.8
Operating revenue 9,485,638.0 10,010,536.0 9,251,437.0 8,011,689.2 7,240,265.2
Cost of goods sold 4,587,508.0 5,089,869.0 4,811,934.0 4,085,094.6 3,739,852.2
Gross profit 4,898,130.0 4,920,667.0 4,439,503.0 3,926,594.6 3,500,413.0
Other operating
expenses 4,247,357.0 4,159,378.0 3,692,180.0 3,321,228.0 3,069,040.2
Operating result 650,773.0 761,289.0 747,323.0 605,366.6 431,372.8
Financial income 382,405.0 419,949.0 409,422.0 468,869.2 492,875.1
Financial expenses 466,674.0 366,595.0 449,441.0 416,089.0 374,060.7
Financial result -84,269.0 53,354.0 -40,019.0 52,780.2 118,814.4
Result before
extraordinary items 566,504.0 814,643.0 707,304.0 658,146.8 550,187.2
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 566,504.0 814,643.0 707,304.0 658,146.8 550,187.2
Taxes 202,417.0 265,138.0 222,929.0 163,960.4 162,225.7
Result before
minority interests 364,087.0 549,505.0 484,375.0 494,186.4 387,961.5
minority interests -69.0 2,128.0 3,847.0 3,537.0 -82.7
Result for the
financial year 364,156.0 547,377.0 480,528.0 490,649.4 388,044.2
Depreciation 405,341.0 434,377.0 376,293.0 348,355.1 333,307.4
Cash flow 769,428.0 983,882.0 860,668.0 842,541.5 721,268.9
Cash flow from
operating activities 743,861.0 197,085.0 338,343.0 515,273.0 689,389.0
Investments in
tangible fixed assets 557,486.0 502,917.0 381,841.0 349,791.0 636,400.0
Cash flow from
investing activities -616,369.0 -279,862.0 -480,629.0 -352,563.0 -628,900.0
Cash flow from
financing activities 58,821.0 -23,073.0 309,167.0 -103,213.0 45,808.0
Others -27,630.0 -1,705.0 7,006.0 48,686.0 7,010.0
Change in
liquidity 158,683.0 -107,555.0 173,887.0 108,183.0 113,307.0
Liquidity at
beginning of the year 1,274,629.0 1,382,184.0 1,207,937.0 1,099,754.0 986,447.0
Liquidity at end
ot the year 1,433,312.0 1,274,629.0 1,381,824.0 1,207,937.0 1,099,754.0
Material costs 4,587,508.0 5,089,869.0 4,412,918.0 3,777,184.5 3,492,511.8
Cost of employees 2,100,460.0 1,987,916.0 1,777,004.0 1,285,935.9 1,508,590.6
Added value 3,072,305.0 3,236,936.0 2,860,601.0 2,292,437.8 2,392,085.2
Working Capital 4,427,535.0 4,461,803.0 3,505,826.0 2,944,571.7 2,643,453.3
Sales per Employee 227.4 240.5 246.9 230.1 214.7
Gross cost land
and buildings 2,275,186.0 2,173,133.0 1,931,855.0 1,662,350.0 1,444,796.0
Gross cost other
tangible fixed assets 3,708,960.0 3,417,531.0 3,245,202.0 3,233,310.0 3,055,924.0
Gross cost total 5,984,146.0 5,590,664.0 5,177,057.0 4,895,660.0 4,500,720.0
Employees at year end 39,424 37,801 35,333 32,979 32,091
Employees inland 1,469 1,276 1,195 1,055 1,007
Employees abroad 37,955 36,525 34,138 31,924 31,084
Name: LIEBHERR-INTERNATIONAL
S.A.
City/Country: Bulle/FR, Switzerland/CH
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
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
28.09.2012 2012 0
28.09.2012 2011 0
28.09.2012 2010 0
28.09.2012 2009 0
28.09.2012 2008 0
22.05.2009 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
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: Payment habits are considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
|
1 |
Rs.102.33 |
|
Euro |
1 |
Rs.82.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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 |
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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 |
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|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.