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Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SEVERSTAL EXPORT GMBH |
|
|
|
|
Registered Office : |
Fischergasse 3 6362 Stansstad/NW |
|
|
|
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Country : |
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|
|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
08.05.2001 |
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|
|
|
Com. Reg. No.: |
150.4.000.518-6 / 612595 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesale of metals and metal ores |
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No. of Employees : |
10-19 |
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 |
SEVERSTAL EXPORT
GMBH
Fischergasse 3
6362 Stansstad/NW
Switzerland/CH
Telephone: 041
6197710
Fax: 041
6197719
Web
site: http://www.severstal.com
E-mail: sokol@severstalexport.com
WIN
Worldbox No.: CH0004882395
VAT-No.: CHE109254837
Established: 1930
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4672 Wholesale of metals and metal ores
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 10-19
The business includes the export and trading
of steel products. Services in the field of steel products, acquisition,
management, financing and delivery of financial services to third parties in
Switzerland and abroad.
Information on property ownership was not
available.
Company
No: 150.4.000.518-6 /
612595
Legal
form: Limited Liability
Company
Registration: 08.05.2001
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Nidwalden
History: Date of Statutes: 26.09.2003
Date of
Incorporation Statutes: 07.05.2001
Entry Deleted Name
08.05.2001 SeverStal
Export GmbH
Entry Deleted Legal domicile
08.05.2001 Stansstad,
Switzerland
Entry Deleted Address
08.05.2001 Fischergasse
3, 6362 Stansstad/NW, Switzerland/CH
Entry Deleted Capital
08.05.2001 LLC
Capital CHF 500,000
Entry Deleted Capital Structure
07.11.2013 1
Participation shares of CHF 1,000.--
08.05.2001 1
Participation shares of CHF 499,000.--
Title Name
General
Manager Tatiana
Timokhina, Origin: Russia, Residential address: Luzern, Switzerland, joint
signature of two, Registered since: 07.11.2013
Chairman
of the management Withold Skrotzki,
Origin: Germany, Residential address: Bürgenstock (Stansstad), Switzerland,
joint signature of two, Registered since: 08.05.2001
Member
with procuration Peter
Michael Kemmerich, Origin: Stansstad, Switzerland, Residential address:
Stansstad, Switzerland, joint power of attorney of two, Registered since:
26.09.2013
Member
with procuration Giuseppe
Paolo Lapira, Origin: Germany, Residential address: Hergiswil/NW, Switzerland,
joint power of attorney of two, Registered since: 26.09.2013
Member
with procuration Markus
Johannes Pollert, Origin: Germany, Residential address: Hergiswil/NW,
Switzerland, joint power of attorney of two, Registered since: 26.09.2013
Member
with procuration Dmitry
Polyakov, Origin: Russia, Residential address: Stansstad, Switzerland, joint
power of attorney of two, Registered since: 07.11.2013
Member
with procuration Rolf
Reincke, Origin: Germany, Residential address: Luzern, Switzerland, joint power
of attorney of two, Registered since: 26.09.2013
Member
with procuration Jürg
Zentner-Murer, Origin: Urnäsch, Switzerland, Residential address: 6060
Sarnen/OW, Switzerland, joint power of attorney of two, Registered since:
23.03.2005
Title Name
Auditor KPMG AG,
Residential address: Zürich, Switzerland, Id: CH-020.3.001.933-8, Registered
since: 08.05.2001
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010
Number of months: 12 12 12
Currency: th.
USD th. USD th. USD
Balance Sheet
Intangible fixed
assets 820,935.0 770,454.0 1,930,942.0
Land and buildings 3,409,421.0 3,141,038.0 3,469,327.0
Other tangible
fixed assets 5,053,290.0 4,322,356.0 3,830,522.0
Tangible fixed
assets 8,462,711.0 7,463,394.0 7,299,849.0
Financial fixed
assets 457,533.0 483,577.0 363,106.0
other fixed assets 269,342.0 262,590.0 243,757.0
Fixed assets 10,010,521.0 8,980,015.0 9,837,654.0
Stocks 2,352,898.0 2,519,154.0 2,369,134.0
Trade accounts
receivable 1,040,567.0 1,219,961.0 967,837.0
Liquid assets 1,726,275.0 1,863,538.0 2,012,662.0
Securities 23,778.0 10,500.0 27,463.0
other trade
accounts 553,176.0 3,316,623.0 4,193,631.0
Other current
assets 2,303,229.0 5,190,661.0 6,233,756.0
Current assets 5,696,694.0 8,929,776.0 9,570,727.0
Total assets 15,707,215.0 17,909,791.0 19,408,381.0
Capital 2,752,728.0 3,311,288.0 3,311,288.0
Other shareholders
funds 4,441,732.0 3,368,208.0 3,723,651.0
Total shareholders
equity 7,194,460.0 6,679,496.0 7,034,939.0
Minority interests 20,783.0 387,827.0 314,714.0
long term debt
(financial debts) 4,327,412.0 4,790,631.0 4,722,926.0
Provisions 15,266.0
Other non current
liabilities 779,632.0 682,039.0 956,775.0
Non current
liabilities 5,122,310.0 5,472,670.0 5,679,701.0
short term debt
(financial debts) 1,382,128.0 1,191,579.0 1,431,516.0
Trade accounts
payable 1,057,621.0 1,115,110.0 897,389.0
Provisions 41,261.0 64,269.0 29,161.0
Accruals 17,620.0 24,302.0 23,786.0
other accounts
payable 871,032.0 2,974,538.0 3,997,175.0
other current
liabilities 929,913.0 3,063,109.0 4,050,122.0
Current
liabilities 3,369,662.0 5,369,798.0 6,379,027.0
Shareh. equity,
min. interests + liabilities 15,707,215.0 17,909,791.0 19,408,381.0
Profit and loss
account
Sales 14,264,778.0 15,812,400.0 12,819,118.0
Net sales 14,264,778.0 15,812,400.0 12,819,118.0
Other operating
revenue 20,243.0 2,009,067.0 5,041,064.0
Operating revenue 14,285,021.0 17,821,467.0 17,860,182.0
Cost of goods sold 10,785,292.0 10,903,222.0 8,716,766.0
Gross profit 3,499,729.0 6,918,245.0 9,143,416.0
Other operating
expenses 2,121,950.0 3,714,739.0 8,508,982.0
Operating result 1,377,779.0 3,203,506.0 634,434.0
Interest revenues 68,169.0 49,681.0 100,595.0
other financial
revenues 339,343.0 57,512.0 136,768.0
Financial income 407,512.0 107,193.0 237,363.0
Interest expenses 440,938.0 436,141.0 617,785.0
other financial
expenses 77,117.0 157,206.0 196,592.0
Financial expenses 518,055.0 593,347.0 814,377.0
Financial result -110,543.0 -486,154.0 -577,014.0
Result before
extraordinary items 1,267,236.0 2,717,352.0 57,420.0
Result before
taxes 1,267,236.0 2,717,352.0 57,420.0
Taxes 273,597.0 543,617.0 571,999.0
Result before
minority interests 993,639.0 2,173,735.0 -514,579.0
minority interests 72,484.0 138,902.0 60,335.0
Result for the
financial year 921,155.0 2,034,833.0 -574,914.0
Cash flow
Depreciation 726,045.0 646,821.0 615,979.0
Cash flow 1,719,684.0 2,820,556.0 101,400.0
Cash flow from
operating activities 1,750,359.0 2,579,435.0 1,259,174.0
Investments in
tangible fixed assets 1,336,450.0 1,609,493.0 1,011,870.0
Cash flow from
investing activities -1,102,026.0 -1,901,520.0 -1,499,266.0
Cash flow from
financing activities -835,103.0 -539,054.0 -287,881.0
Others 49,507.0 -287,985.0 -312,741.0
Change in
liquidity -137,263.0 -149,124.0 -840,714.0
Liquidity at
beginning of the year 1,863,538.0 2,012,662.0 2,853,376.0
Liquidity at end
ot the year 1,726,275.0 1,863,538.0 2,012,662.0
Cost of employees 2,070,480.0 1,887,284.0 1,460,385.0
Added value 4,504,699.0 5,687,598.0 2,751,569.0
Working Capital 2,335,844.0 2,624,005.0 2,439,582.0
Sales per Employee 212.0 227.2
Gross cost land
and buildings 2,358,142.0 3,912,370.0 4,308,109.0
Gross cost other
tangible fixed assets 10,955,570.0 7,689,078.0 7,034,152.0
Gross cost total 13,313,712.0 11,601,448.0 11,342,261.0
Employees at year end 67,297 69,583
Name: OAO Severstal
City/Country: Moscow, Russia/RU
No.
of Owner/-s: 2
Owner: The company is foreign
owned.
Class: 50-100%
Type: indirect,
Group-Level 1
Name: OAO Severstal
City/Country: Moscow, Russia/RU
Class: 50-100%
Type: direct
Name: Severstal Trade
Ges.m.b. H.
City/Country: Wien, Austria/AT
Capital
share: CHF 499,000.--
Interest: 99,80% voting right,
99,80% capital interest (since 08.05.2001)
Class: 0-9%
Type: direct
Name: Withold Skrotzki
City/Country: Bürgenstock, Switzerland/CH
Capital
share: CHF 1,000.--
Interest: 0,20% voting right,
0,20% capital interest
Severstal is one of the world’s leading
vertically integrated steel and steel related mining companies, with assets in
Russia, the USA, the Ukraine, Latvia, Poland, Italy, Liberia and Brazil.
Severstal combines the growth potential of
Russia’s emerging market with the margin sustainability of an international
steel producer. The Groupe currently operates facilities in ten countries and
employ a workforce of 70,000.
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
27.02.2014 2014 0
31.12.2013 2013 0
31.12.2012 2012 0
31.12.2011 2011 0
31.12.2010 2010 1 300,000.-- Opposition filed
31.12.2009 2009 0
31.12.2008 2008 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 good.
Payment
experiences: Financial obligations are
met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.80 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.46 |
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 |
|
|
<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.