|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SSM SCHÄRER SCHWEITER METTLER AG |
|
|
|
|
Registered Office : |
Neugasse 10 8810 Horgen/ZH Switzerland/CH |
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|
|
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Country : |
Switzerland |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
08.02.1989 |
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|
|
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Com. Reg. No.: |
020.3.923.278-0 / 161234 |
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|
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Legal Form : |
Company limited by shares |
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|
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Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
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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 |
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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 – 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 |
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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 |
SSM SCHÄRER SCHWEITER
METTLER AG
"SSM AG"
Neugasse 10
8810 Horgen/ZH
Switzerland/CH
Telephone: 044
7183311
Fax: 044
7183451
Web
site: http://www.ssm.ch
E-mail: info@ssm.ch
WIN
Worldbox No.: CH0000091908
VAT-No.: CHE106416658
Established: 1854
History: 1912: Limited company
Line
of Business: Machinery, Financial
services
Industry
Division: Manufacturing, Services
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
6420 Activities of holding companies
Import/Export: Export
Export
sales: 98,0%
Banks: CS Credit Suisse
Coverage: Company
Figures: approximately
Employees: 150-249
Sales: CHF 40-60 Mio
The business activities incldues the development,
production, sales and distribution of textile, beaming and winding machinery.
Brands: DIGICONE, SSM.
Real
Estate: It is understood
that the company owns certain property.
Company
No: 020.3.923.278-0 / 161234
Legal
form: Company limited by
shares
Registration: 08.02.1989
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich
History: Date of Incorporation
Statutes: 19.01.1989
Date of
Statutes: 29.09.2003
Date of
Statutes: 20.12.1995
Entry Deleted Name
09.12.2003 SSM
Schärer Schweiter Mettler AG
09.12.2003 SSM
Schärer Schweiter Mettler SA (Name translated)
09.12.2003 SSM
Schärer Schweiter Mettler Ltd (Name translated)
09.12.2003 Schärer Schweiter Mettler AG
09.12.2003 Schärer Schweiter Mettler SA (Name translated)
09.12.2003 Schärer Schweiter Mettler Ltd (Name
translated)
Entry Deleted Legal domicile
active Horgen,
Switzerland
Entry Deleted Address
09.12.2003 Neugasse
10, 8810 Horgen/ZH, Switzerland/CH
09.12.2003 Neugasse 12, 8810 Horgen/ZH, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 6,000,000, paidup CHF 6,000,000
Entry Deleted Capital Structure
active 6,000
Registered shares of CHF 1,000.--
Entry Deleted Activity
18.01.1996 Development,
manufacture, sale and service of and trade in machinery, in particular textile
machinery, and provision of services in this context, may participate in a
business or acquire, hold and sell real estate.
Entry Deleted Remarks
active Publishing
authority: SHAB Swiss Gazette
18.01.1996 Shares:
The transfer of registered shares is restricted in accordance with the
statutes.
18.01.1996 Reports:
Notices to shareholders place in the gazette or by registered mail to the
registered address in the share register.
Title Name
President Beat M.
Siegrist, Origin: Vordemwald, Switzerland, Residential address: Herrliberg/ZH,
Switzerland, joint signature of two, Registered since: 21.06.1996
Director Dr. Heinz
O. Baumgartner, Origin: Zürich, Meilen, Switzerland, Residential address:
Oberwil-Lieli/AG, Switzerland, joint signature of two, Registered since:
21.06.1996
Title Name
General
Manager Ernst
(Ernesto) Maurer, Origin: Zürich, Switzerland, Residential address: Elgg/ZH,
Switzerland, joint signature of two, Registered since: 23.04.2010
Member
of the management Martin Philipp
Klöti, Origin: Zürich, Switzerland, Residential address: Affoltern am Albis/ZH,
Switzerland, joint signature of two, Registered since: 25.10.2004
Member
of the management Davide
Maccabruni, Origin: Basel, Switzerland, Residential address: 8800 Thalwil/ZH,
Switzerland, joint signature of two, Registered since: 09.11.2009
Member
of the management Christian Widmer,
Origin: Hasle bei Burgdorf, Switzerland, Residential address: 8820
Wädenswil/ZH, Switzerland, joint signature of two, Registered since: 27.01.2009
Member
with signing authority Sonja
Kälin-Walker, Origin: Gurtnellen, Switzerland, Residential address: 8840
Einsiedeln/SZ, Switzerland, joint signature of two, Registered since:
10.11.2008
Member
with signing authority Marco Gilberto
Edgar Sarain, Origin: Zürich, Switzerland, Residential address: Zug/ZG,
Switzerland, joint signature of two, Registered since: 16.04.2014
Title Name
Auditor Deloitte
AG, Residential address: Zürich, Switzerland, Registered since: 18.05.1995
Title Name
Chief Executive Officer,
Chief Marketing Officer,
Chief Sales Officer Ernst
(Ernesto) Maurer (ernesto.maurer@ssm.ch)
Chief
Financial Officer Marco
Gilberto Edgar Sarain
Chief
Operating Officer Christian
Widmer (christian.widmer@ssm.ch )
Chief
Technical Officer Davide
Maccabruni (davide.maccabruni@ssm.ch)
Consolidation: consolidated (Segment)
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
Net sales 73,700.0 69,300.0 72,900.0 85,900.0
Operating revenue 74,900.0 69,800.0 76,900.0 87,800.0 38,600.0
Operating result 6,800.0 7,400.0 8,300.0 12,600.0 -7,300.0
Result before
minority interests 6,800.0 5,700.0 6,400.0 9,600.0 -8,100.0
Capital 6,000.0 6,000.0 6,000.0 6,000.0 6,000.0
Total shareholders
equity 13,400.0 5,000.0 8,500.0 18,200.0 10,700.0
Total assets 54,500.0 50,800.0 56,100.0 59,800.0 37,200.0
Depreciation 1,200.0 1,000.0 500.0 400.0 400.0
Cash flow 8,000.0 6,700.0 6,900.0 10,000.0 -7,700.0
Investments in
tangible fixed assets 800.0 1,200.0 700.0 800.0 400.0
Sales per Employee 310.0 273.0 330.0 374.0 201.0
Employees at year end 242 256 233 235 192
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 51,103.0 52,844.0 57,679.0 62,820.0 73,147.0
Land and buildings 82,307.0 79,869.0 124,246.0 126,636.0 131,771.0
Other tangible
fixed assets 85,298.0 85,222.0 83,564.0 91,741.0 111,653.0
Tangible fixed
assets 167,605.0 165,091.0 207,810.0 218,377.0 243,424.0
Financial fixed
assets 25,986.0 41,189.0 8,415.0 5,286.0 3,039.0
other fixed assets 29,485.0 33,798.0 35,314.0 32,188.0 21,539.0
Fixed assets 274,179.0 292,922.0 309,218.0 318,671.0 341,149.0
Stocks 112,521.0 110,048.0 126,178.0 115,446.0 96,837.0
Trade accounts
receivable 77,684.0 70,485.0 104,974.0 133,508.0 102,774.0
Liquid assets 352,055.0 382,604.0 295,800.0 275,163.0 301,584.0
other trade
accounts 34,774.0 27,245.0 22,128.0 32,709.0 12,420.0
Accruals 2,225.0 791.0 1,476.0 2,645.0 1,697.0
Other current
assets 389,054.0 410,640.0 319,404.0 310,517.0 315,701.0
Current assets 579,259.0 591,173.0 550,556.0 559,471.0 515,312.0
Total assets 853,438.0 884,095.0 859,774.0 878,142.0 856,461.0
Capital 1,444.0 1,444.0 1,444.0 1,444.0 1,444.0
Other shareholders
funds 646,962.0 665,761.0 635,739.0 637,659.0 621,978.0
Total shareholders
equity 648,406.0 667,205.0 637,183.0 639,103.0 623,422.0
Minority interests 0.0 0.0 0.0 0.0 0.0
long term debt
(financial debts) 2,793.0 3,352.0 3,911.0 4,469.0 5,048.0
Provisions 15,837.0 16,098.0 35,266.0 13,799.0 16,146.0
Other non current
liabilities 73,426.0 89,406.0 70,108.0 77,505.0 74,779.0
Non current
liabilities 92,056.0 108,856.0 109,285.0 95,773.0 95,973.0
short term debt
(financial debts) 2,639.0 2,236.0 1,552.0 3,616.0 13,420.0
Trade accounts
payable 56,560.0 50,988.0 54,161.0 70,901.0 47,035.0
Provisions 1,897.0 3,056.0 11,325.0 6,656.0 8,301.0
Accruals 35,090.0 33,534.0 37,835.0 48,427.0 44,464.0
other accounts
payable 16,790.0 18,220.0 8,433.0 13,666.0 23,846.0
other current
liabilities 53,777.0 54,810.0 57,593.0 68,749.0 76,611.0
Current
liabilities 112,976.0 108,034.0 113,306.0 143,266.0 137,066.0
Shareh. equity,
min. interests + liabilities 853,438.0 884,095.0 859,774.0 878,142.0 856,461.0
Sales 686,182.0 673,523.0 785,643.0 932,059.0 132,553.0
Reduction of
proceeds 0.0 0.0 0.0 0.0 9,817.0
Net sales 686,182.0 673,523.0 785,643.0 932,059.0 122,736.0
Other operating
revenue 14,623.0 6,898.0 18,117.0 12,257.0 685.0
Operating revenue 700,805.0 680,421.0 803,760.0 944,316.0 123,421.0
Cost of goods sold 353,632.0 344,942.0 413,316.0 468,036.0 68,368.0
Gross profit 347,173.0 335,479.0 390,444.0 476,280.0 55,053.0
Other operating
expenses 301,723.0 281,243.0 330,702.0 408,908.0 75,440.0
Operating result 45,450.0 54,236.0 59,742.0 67,372.0 -20,387.0
Interest revenues 944.0 1,463.0 1,111.0 1,265.0 3,420.0
other financial
revenues 0.0 671.0 855.0 292.0 2,456.0
Financial income 944.0 2,134.0 1,966.0 1,557.0 5,876.0
Interest expenses 2,398.0 2,690.0 2,934.0 1,451.0 161.0
other financial
expenses 3,073.0 2,858.0 3,381.0 11,412.0 6,369.0
Financial expenses 5,471.0 5,548.0 6,315.0 12,863.0 6,530.0
Financial result -4,527.0 -3,414.0 -4,349.0 -11,306.0 -654.0
Result before
extraordinary items 40,923.0 50,822.0 55,393.0 56,066.0 -21,041.0
Extraordinary
income 20,685.0
Extraordinary
Result 20,685.0
Result before
taxes 40,923.0 71,507.0 55,393.0 56,066.0 -21,041.0
Taxes 10,716.0 10,674.0 7,891.0 5,094.0 -605.0
Result before
minority interests 30,207.0 60,833.0 47,502.0 50,972.0 -20,436.0
minority interests 0.0 0.0 0.0 0.0 0.0
Result for the financial
year 30,207.0 60,833.0 47,502.0 50,972.0 -20,436.0
Depreciation 23,284.0 27,875.0 28,665.0 32,566.0 4,168.0
Cash flow 53,491.0 88,708.0 76,167.0 83,538.0 -16,268.0
Cash flow from
operating activities 38,459.0 79,693.0 53,539.0 22,255.0 10,194.0
Investments in
tangible fixed assets 30,207.0 17,670.0 15,514.0 22,328.0 2,445.0
Cash flow from
investing activities -7,199.0 26,225.0 -16,282.0 -12,608.0 -250,097.0
Cash flow from
financing activities -62,575.0 -17,722.0 -15,995.0 -22,466.0 -48,715.0
Others 766.0 -1,392.0 -625.0 -13,602.0 -5,944.0
Change in
liquidity -30,549.0 86,804.0 20,637.0 -26,421.0 -294,562.0
Liquidity at
beginning of the year 382,604.0 295,800.0 275,163.0 301,584.0 596,146.0
Liquidity at end
ot the year 352,055.0 382,604.0 295,800.0 275,163.0 301,584.0
Material costs 353,632.0 344,942.0 413,316.0 472,132.0 64,092.0
Cost of employees 145,891.0 127,696.0 156,835.0 205,252.0 45,828.0
Research and
Development 3,401.0 3,422.0 7,857.0 14,537.0 13,906.0
Orders received 706,100.0 666,091.0 857,746.0 960,878.0 175,169.0
Added value 212,496.0 229,768.0 243,827.0 295,335.0 29,116.0
Working Capital 133,645.0 129,545.0 176,991.0 178,053.0 152,576.0
Sales per Employee 294.6 279.1 254.1 248.9 244.5
Market
capitalisation 977,400.0 757,928.0 727,611.0 1,082,754.0 783,914.0
Gross cost land
and buildings 121,072.0 114,331.0 146,551.0 169,881.0 167,735.0
Gross cost other
tangible fixed assets 274,558.0 256,866.0 249,769.0 248,112.0 262,521.0
Gross cost total 395,630.0 371,197.0 396,320.0 417,993.0 430,256.0
Insurance value
total 504,028.0 544,751.0 587,404.0 250,369.0 289,066.0
Employees at year end 2,329 2,413 3,092 3,745 502
Employees average 754
Name: Schweiter Technologies
AG
City/Country: Horgen/ZH, Switzerland/CH
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Type: direct, Group-Level 1
Name: Schweiter Technologies
AG
City/Country: Horgen/ZH, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 08.02.1989)
Name: Nerwal SA
City/Country: La Chaux-de-Fonds/NE,
Switzerland/CH
Name: SSM Vertriebs AG
City/Country: Cham/ZG, Switzerland/CH
Name: 3A Composites Holding
AG
City/Country: Cham/ZG, Switzerland/CH
Class: 100%
Name: SSM Giudici S.r.l.
City/Country: Galbiate/LC, Italy/IT
Interest: 100,00% voting right,
100,00% capital interest (since 31.01.2012)
Class: 100%
Name: SSM (Zhongshan) Ltd
City/Country: Zhongshan, China/CN
Interest: 100,00% voting right, 100,00%
capital interest (since 2003)
Control date Year No. Amount CHF Status
19.05.2014 2014 0
21.06.2013 2013 0
21.06.2013 2012 0
21.06.2013 2011 0
21.06.2013 2010 0
21.06.2013 2009 0
21.06.2013 2008 0
28.12.2010 2007 0
28.12.2010 2006 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.
Debt collection case:
JUN 2009: CHF 175.00, bezahlt.
MAI 2014: CHF 88.00, paid.
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.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.