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MIRA
INFORM REPORT
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Report No. : |
489169 |
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Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GE
ENERGY SWITZERLAND GMBH |
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Registered Office : |
Brown Boveri Strasse 7, 5400 Baden/AG, Switzerland/CH |
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Country : |
Switzerland |
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Date of Incorporation : |
19.08.2015 |
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Com. Reg. No.: |
400.4.440.152-6 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
The
company engages in the development, manufacture and distribution of products
within the field of the production of energy generating devices, related instruments,
parts and equipment, and related services. |
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No. of Employees : |
1-9 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland, a country that espouses neutrality, is a 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 Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled demand for Swiss exports
and put Switzerland into a recession. During this period, the Swiss National
Bank (SNB) implemented a zero-interest rate policy to boost the economy, as
well as to prevent appreciation of the franc, and Switzerland's economy began
to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries,
however, coupled with ongoing economic instability in Russia and other eastern
European economies continue to pose a significant risk to the Swiss economy,
driving up demand for the Swiss franc by investors seeking a safe-haven
currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro,
roiling global currency markets and making active SNB intervention a necessary
hallmark of present-day Swiss monetary policy. 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 from 2011-17.
In recent years, Switzerland has responded to increasing pressure from
neighboring countries and trading partners to reform its banking secrecy laws,
by agreeing to conform to OECD regulations on administrative assistance in tax
matters, including tax evasion. The Swiss government has also renegotiated its
double taxation agreements with numerous countries, including the US, to
incorporate OECD standards, and is openly considering the possibility of
imposing taxes on bank deposits held by foreigners.
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Source
: CIA |
Company name
GE ENERGY SWITZERLAND GMBH
Operating
address
Brown Boveri Strasse 7
5400 Baden/AG
Switzerland/CH
Telephone: +41
585057733
Fax: +41
562057171
Web site: http://www.ge.com
WIN No.: CH0010753007
VAT-No.: CHE-116.309.001
MWST
UID-No.: CHE116309001
Profile
Established: 2015
Line of
Business: Rental
Industry
Division: Services
Industry-code
(NACE): 7740 Leasing of intellectual property and similar products, except
copyrighted works
Banks: Unknown
Operational
Figures
Coverage: Company
Figures: estimated
Financial
year: 2017
Employees: 1-9
Activity
The company
engages in the development, manufacture and distribution of products within the
field of the production of energy generating devices, related instruments,
parts and equipment, and related services.
Operations and Branches:
At the
address, Brown Boveri Strasse 7, 5400 Baden, Switzerland, we find the company's
registered office.
Real
Estate
Real
Estate: The company does not appear
to own any property.
Company
Register
Company No: 400.4.440.152-6
UID-No.: CHE116309001
Legal form: Limited Liability Company
Registration: 19.08.2015
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Aargau
History: Date of Incorporation Statutes: 17.07.2015
Entry Deleted Name
19.08.2015 GE Energy Switzerland GmbH
Entry Deleted Legal
domicile
19.08.2015 Baden, Switzerland
Entry Deleted Address
07.01.2016 Brown Boveri Strasse 7, 5400
Baden/AG, Switzerland/CH
19.08.2015 07.01.2016 c/o Conrad & Partner Advokatur, Weite Gasse 14, 5400 Baden/AG, Switzerland/CH
Entry Deleted Capital
19.08.2015 LLC Capital CHF 40,000
Entry Deleted Capital
Structure
06.09.2016 400 Participation shares of
CHF 100.--
31.08.2016 06.09.2016 400 Participation shares of CHF 100.--
11.01.2016 31.08.2016 400 Participation shares of CHF 100.--
07.01.2016 11.01.2016 400 Participation shares of CHF 100.--
19.08.2015 07.01.2016 400 Participation shares of CHF 100.--
Management
Title Name
General
Manager Indermaur, Robin Peter
Citizen: Sevelen, Switzerland
Residential address: Würenlingen,
Switzerland
single signature
Registered since: 25.02.2016
General
Manager Leutwyler, André
Citizen: Lupfig, Switzerland
Residential address: Widen, Switzerland
single signature
Registered since: 09.11.2016
General
Manager Rosa, Peter
Citizen: Germany
Residential address: Görwihl ,
Germany
single signature
Registered since: 25.02.2016
Chairman of
the management Kraaij, Ernst Frederik
Citizen: Netherlands
Residential address: Amsterdam ,
Netherlands
single signature
Registered since: 19.08.2015
Member with
signing authority Appert, Nicole
Citizen: Thalwil, Switzerland
Residential address: Baden,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Cogo, Kévin
Citizen: France
Residential address: Zug,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Connor, Stuart
Citizen: Australia
Residential address: Thalwil, Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Dalla Costa, Stéphane
Daniel
Citizen: France
Residential address: Obersiggenthal,
Switzerland
single signature
Registered since: 09.03.2017
Member with
signing authority Dix, Diane
Citizen: United States of America
Residential address: Zürich,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Kaveney Jr, James
Anthony
Citizen: United States of America
Residential address: Zürich,
Switzerland
single signature
Registered since: 28.08.2017
Member with
signing authority Keroullé, Michael
Citizen: France
Residential address: Zürich,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Llonch, Dominique
Citizen: France
Residential address: Weisslingen,
Switzerland
single signature
Registered since: 26.09.2017
Member with
signing authority Lusch, Andreas
Citizen: Germany
Residential address: Zürich,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Mastrangelo Jr,
Joseph
Citizen: United States of America
Residential address: Zürich,
Switzerland
single signature
Registered since: 28.08.2017
Member with
signing authority Rechsteiner, Michael
Citizen: Appenzell, Switzerland
Residential address: Oberweningen,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Schweinfest, Matthias
Citizen: Germany
Residential address: Freienbach,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Sutton, Charles
Citizen: United States of America
Residential address: Erlenbach/ZH,
Switzerland
single signature
Registered since: 09.03.2017
Member with
signing authority Timoney, John
Citizen: Ehrendingen, Switzerland
Residential address: Frick,
Switzerland
single signature
Registered since: 01.06.2017
Member with
signing authority Valverde Delgado,
Manuel
Citizen: Spain
Residential address: Adliswil,
Switzerland
single signature
Registered since: 28.08.2017
External
Positions
Title Name
Auditor KPMG AG,
Residential address: Zürich,
Switzerland
Id: CHE-106.084.881
Registered since: 19.08.2015
Ultimate
Parent Company
Name: General Electric Company
City/Country: Boston/Massachusetts, United States of
America/US
Direct
owner/-s
No. of
owner/-s: 1
Owner: The company is foreign owned.
Class: 100%,
directly held
Name: GE
Energy Parts International LLC
City/Country: Wilmington, United States of America/US
Interest: 100,00% voting right, 100,00%
capital interest
Investments
It is
believed that the company has no investments.
Sisters
Name: General Electric (Switzerland) GmbH
City/Country: Baden/AG, Switzerland/CH
Financial
Data General Electric Company
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2016 31.12.2015 31.12.2014 31.12.2013 31.12.2012
Number of months: 12 12 12 12 12
Currency: mil.
USD mil.
USD mil. USD mil. USD mil.
USD
Statement norm: US-GAAP US-GAAP US-GAAP US-GAAP US-GAAP
Balance Sheet
Intangible fixed assets 86,874.0 82,270.0 90,709.0 91,958.0 85,434.0
Land and buildings 68.0 6,411.0 4,689.0 1,696.0
Other tangible fixed assets 50,450.0 47,684.0 61,698.0 67,131.0
Tangible fixed assets 50,518.0 54,095.0 66,387.0 68,827.0 69,743.0
Financial fixed assets 21,285.0 41,288.0
other fixed assets 70,733.0 185,501.0 78,301.0 73,472.0 60,134.0
Fixed assets 208,125.0 321,866.0 235,397.0 255,542.0 256,599.0
Stocks 22,354.0 22,515.0 17,689.0 17,325.0 15,374.0
Trade accounts receivable 24,076.0 27,022.0 23,237.0 21,388.0 21,500.0
Cash & Cash Equivalents 48,129.0 70,483.0 90,208.0 88,555.0 77,356.0
Securities 44,313.0 31,973.0 47,907.0 43,981.0 48,510.0
other trade accounts 18,186.0 18,833.0 233,911.0 229,769.0 265,989.0
Other current assets 110,628.0 121,289.0 372,026.0 362,305.0 391,855.0
Current assets 157,058.0 170,826.0 412,952.0 401,018.0 428,729.0
Total assets 365,183.0 492,692.0 648,349.0 656,560.0 685,328.0
Capital 708.0 708.0 702.0 33,196.0 33,772.0
Other shareholders funds 75,120.0 97,566.0 127,457.0 97,370.0 89,254.0
Total shareholders equity 75,828.0 98,274.0 128,159.0 130,566.0 123,026.0
Minority interests 4,688.0 4,836.0 8,674.0 6,217.0 5,444.0
long term debt (financial debts) 105,080.0 145,301.0 200,414.0 221,665.0 236,084.0
Other non current liabilities 97,592.0 136,085.0 102,662.0 91,540.0 99,371.0
Non current liabilities 202,672.0 281,386.0 303,076.0 313,205.0 335,455.0
short term debt (financial debts) 31,131.0 49,892.0 71,789.0 77,890.0 101,392.0
Trade accounts payable 14,435.0 13,680.0 16,338.0 16,471.0 15,675.0
Accruals 16,760.0 15,776.0 12,537.0 13,125.0 10,877.0
other accounts payable 19,669.0 28,848.0 107,776.0 99,086.0 93,459.0
other current liabilities 36,429.0 44,624.0 120,313.0 112,211.0 104,336.0
Current liabilities 81,995.0 108,196.0 208,440.0 206,572.0 221,403.0
Shareh. equity, min. int. & liabilities 365,183.0 492,692.0 648,349.0 656,560.0 685,328.0
Profit and loss account
Sales 110,390.0 105,808.0 106,758.0 100,542.0 100,149.0
Net sales 110,390.0 105,808.0 106,758.0 100,542.0 100,149.0
Other operating revenue 13,303.0 11,512.0 20,586.0 45,482.0 47,210.0
Operating revenue 123,693.0 117,320.0 127,344.0 146,024.0 147,359.0
Cost of goods sold 87,483.0 82,693.0 81,311.0 77,141.0 74,310.0
Gross profit 36,210.0 34,627.0 46,033.0 68,883.0 73,049.0
Other operating expenses 19,358.0 23,044.0 34,026.0 35,143.0 37,854.0
Operating result 16,852.0 11,583.0 12,007.0 33,740.0 35,195.0
Interest revenues 17,324.0 21.0
other financial revenues 1,640.0 3,998.0 11,085.0 3,744.0
Financial income 1,640.0 21,322.0 11,106.0 3,744.0
Interest expenses 5,025.0 77.0
other financial expenses 4,880.0 3,463.0 25,089.0 17,610.0 19,256.0
Financial expenses 9,905.0 3,463.0 25,166.0 17,610.0 19,256.0
Financial result -9,905.0 -1,823.0 -3,844.0 -6,504.0 -15,512.0
Result before extraordinary items 6,947.0 9,760.0 8,163.0 27,236.0 19,683.0
Extraordinary expenses 954.0 7,495.0 112.0 2,120.0
Extraordinary Result -954.0 -7,495.0 -112.0 -2,120.0 0.0
Result before taxes 5,993.0 2,265.0 8,051.0 25,116.0 19,683.0
Taxes -464.0 6,485.0 1,772.0 676.0 2,138.0
Result before minority interests 6,457.0 -4,220.0 6,279.0 24,440.0 17,545.0
minority interests -305.0 263.0 98.0 273.0 160.0
Result for the financial year 6,762.0 -4,483.0 6,181.0 24,167.0 17,385.0
Cash flow
Depreciation 4,997.0 4,847.0 9,283.0 9,762.0 9,346.0
Cash flow 11,759.0 627.0 15,562.0 34,202.0 26,891.0
Cash flow from operating activities -244.0 19,891.0 27,710.0 28,579.0 31,331.0
Investments in tangible fixed assets 7,199.0 7,309.0 13,727.0 13,458.0 15,126.0
Cash flow from investing activities 49,200.0 59,488.0 -5,030.0 29,117.0 11,302.0
Cash flow from financing activities -89,131.0 -76,054.0 -16,958.0 -45,573.0 -51,074.0
Others -1,146.0 -3,463.0 -3,492.0 -1,027.0 1,175.0
Change in liquidity -41,321.0 -138.0 2,230.0 11,096.0 -7,266.0
Liquidity at beginning of the year 90,879.0 91,017.0 88,787.0 77,459.0 84,622.0
Liquidity at end of the year 49,558.0 90,879.0 91,017.0 88,555.0 77,356.0
Notes
Research and Development 4,782.0 4,249.0 4,233.0 4,700.0 4,500.0
Added value 16,015.0 7,112.0 17,411.0 34,878.0 29,029.0
Working Capital 31,995.0 35,857.0 24,588.0 22,242.0 21,199.0
Net Current Assets 75,063.0 62,630.0 204,512.0 194,446.0 207,326.0
Sales per Employee 0.4 0.3 0.4 0.3 0.3
Gross cost land and buildings 238.0 11,205.0 10,616.0 15,037.0 14,652.0
Gross cost other tangible fixed assets 85,637.0 78,817.0 103,167.0 101,432.0 102,111.0
Gross cost total 85,875.0 90,022.0 113,783.0 116,469.0 116,763.0
Employees at
year end 295,000 333,000 305,000 307,000 305,000
Employees inland 104,000 125,000 136,000 135,000 134,000
Employees abroad 191,000 208,000 169,000 172,000 171,000
Financials
Balance
sheet publication:
The subject
company does not publish financial figures.
Legal
Actions
No legal
actions determined.
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.
Sanctions
List
We did not
find the company included on the various international sanctions lists, such as
the OFAC (Office of Foreign Assets Control), the BIS (Bureau of Industry and
Security), the European Union Restrictive measures (sanctions) list, the Export
Control Organisation (ECO) of the UK, the Australian Department of Foreign
Affairs and Trade.
Payment
experiences
No payment
history is available.
Remarks
- The VAT
number - CHE-116.309.001 MWST - is the Group VAT number.
- Based on
the positive financial situation of the ultimate parent company, we deem stated
credit as acceptable.
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
appears to be good.
Payment
experiences: Regular.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.03 |
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|
1 |
INR 90.40 |
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Euro |
1 |
INR 79.73 |
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CHF |
1 |
INR 69.05 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.