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MIRA
INFORM REPORT
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Report No. : |
493538 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PERLEN
CONVERTING AG |
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Registered Office : |
Perlenring
3, 6035 Perlen/LU, Switzerland/CH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
1949 |
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Com. Reg. No.: |
100.3.015.968-8 |
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Legal Form : |
Company
Limited by Shares |
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Line of Business : |
The
company is active in film manufacturing and film coating for the packaging
industry. The processes and products are geared to the needs of the
pharmaceutical industry. |
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No. of Employees : |
250-399 |
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 : |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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.
|
Source
: CIA |
Company name
PERLEN CONVERTING AG
Operating
address
Perlenring
3
6035
Perlen/LU
Switzerland/CH
Telephone: +41 414558800
Fax: +41
414558801
Web site: http://www.perlenpackaging.ch
E-mail: info@perlenpackaging.com
WIN No.: CH0000051268
VAT-No.: CHE-116.274.213 MWST
UID-No.: CHE106171907
Profile
Established: 1949
History: 1993: Limited
company
Line of
Business: Plastics
Industry
Division: Manufacturing
Industry-code
(NACE): 2221 Manufacture of plastic plates, sheets, tubes and profiles
2222 Manufacture
of plastic packing goods
Import/Export: Export
Export
sales: 96,0%
Quality
certification: ISO 9001:2000 (since
2006)
ISO 14001:2004 (since 2006)
ISO 15378:2006 (since 2007)
Banks: unknown
Operational
Figures
Coverage: Group
Employees: 250-399
Sales: CHF 100-200 Mio
Activity
The company
is active in film manufacturing and film coating for the packaging industry.
The processes and products are geared to the needs of the pharmaceutical
industry.
Products:
Mono-Films, Barrier-Films, Anti-Counterfeit Films, Suppository Films, Liquid
Films, Ampoules/Syringe Films, Anti-microbial Coatings.
Operations
and Branches:
At the
address, Perlenring 3, 6035 Perlen, Switzerland, we find office of the company.
Real
Estate
Real Estate: The company does not appear to own any
property.
Company
Register
Company No: 100.3.015.968-8
UID-No.: CHE106171907
Legal form: Company Limited by Shares
Registration: 17.06.1993
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Luzern
History: Date of Incorporation Statutes: 15.06.1993
Date of Statutes: 11.07.2016
Entry Deleted Name
active Perlen Converting AG
Entry Deleted Legal
domicile
active Root, Switzerland
Entry Deleted Address
22.04.2016 Perlenring 3, 6035 Perlen/LU, Switzerland/CH
22.04.2016 6035 Perlen/LU, Switzerland/CH
Entry Deleted Capital
12.07.2016 Share Capital CHF
24,000,000, paid up CHF 24,000,000
12.07.2016 Share Capital CHF 4,000,000, paid up CHF 4,000,000
Entry Deleted Capital
Structure
12.07.2016 240,000 Registered shares
with restricted transferability of CHF 100.--
12.07.2016 40,000 Registered shares of CHF 100.--
Official
Administration
Title Name
President Schaub, Peter
Citizen: Zürich, Ormalingen,
Switzerland
Residential address: Uster/ZH,
Switzerland
joint signature of two
Registered since: 01.09.2010
Vice-President Schildknecht, Dr. Peter
Citizen: Teufen AR, Switzerland
Residential address: Meggen/LU,
Switzerland
joint signature of two
Registered since: 14.08.2009
Director Grimm, Wolfgang
Citizen: Germany
Residential address: Meggen,
Switzerland
joint signature of two
Management
Title Name
Chairman of
the management Grimm, Wolfgang
Citizen: Germany
Residential address: Meggen,
Switzerland
joint signature of two
Member of
the management Giessler, Johannes
Citizen: Germany
Residential address: Simonswald,
Germany
joint signature of two
Registered since: 08.01.2010
Member of
the management Henz, Peter
Citizen: Bärschwil, Switzerland
Residential address: Buchrain, Switzerland
joint signature of two
Registered since: 12.11.2012
Member of
the management Morgenthaler, Philipp
Citizen: Wyssachen, Switzerland
Residential address: Dietlikon/ZH,
Switzerland
joint signature of two
Registered since: 06.10.2009
Member of
the management Spiekermann, Frederik
Citizen: Germany
Residential address: Emmen,
Switzerland
joint signature of two
Registered since: 26.01.2017
External
Positions
Title Name
Auditor PricewaterhouseCoopers AG,
Residential address: Zürich,
Switzerland
Id: CHE-106.839.438
Registered since: 22.04.2016
Executive
board
Title Name
Chief
Executive Officer Grimm, Wolfgang
Chief
Operating Officer Morgenthaler, Philipp
Chief
Marketing Officer, Giessler, Johannes
Chief Sales
Officer
Chief Human
Resources Officer Henz, Peter
Ultimate
Parent Company
Name: CPH Chemie + Papier Holding AG
City/Country: Perlen/LU, Switzerland/CH
Direct
owner/-s
No. of
owner/-s: 1
Owner: The company is domestic owned.
Class: 100%, directly held
Name: CPH Chemie + Papier Holding AG
City/Country: Perlen/LU, Switzerland/CH
Interest: 100,00% voting right, 100,00%
capital interest
Investments
Class: 100%, directly held
Name: ac-Folien GmbH
City/Country: Müllheim/Baden-Württemberg, Germany/DE
Interest: 100,00% voting right, 100,00%
capital interest (since 2007)
Class: 100%, directly held
Name: Perlen Converting Llc
City/Country: Whippany/New Jersey, United States of
America/US
Interest: 100,00% voting right, 100,00%
capital interest (since 2005)
Class: 100%, directly held
Name: PERLEN PACKAGING (HONG KONG) LIMITED
City/Country: Hong Kong/HK
Interest: 100,00% voting right, 100,00%
capital interest (since 26.06.2014)
Class: 100%, indirectly held
Name: Perlen Packaging (Suzhou) Co., Ltd.
City/Country: Suzhou, China/CN
Interest: 100,00% voting right, 100,00%
capital interest (since 15.09.2014)
Sisters
Name: BioUETIKON Ltd
City/Country: Dublin, Ireland/IE
Name: Chemie Uetikon AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: CU Deutero + Agro AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: Perlen Papier AG
City/Country: Perlen/LU, Switzerland/CH
Name: Zeochem AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Name: Zeowest AG
City/Country: Uetikon am See/ZH, Switzerland/CH
Financial
Data Perlen Converting AG
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2017 31.12.2016 31.12.2015 31.12.2014 31.12.2013
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Operating revenue 130,223.0 119,272.0 109,744.0 117,797.0 116,378.0
Operating result 9,567.0 9,015.0 5,865.0 5,060.0 7,134.0
Capital 4,000.0 4,000.0 4,000.0 4,000.0 4,000.0
Depreciation 4,850.0 5,600.0 5,734.0
Investments in tangible fixed assets 4,700.0 7,400.0 14,100.0 4,400.0 3,100.0
Sales per Employee 359.0 341.0 355.0 384.0 383.0
Employees at
year end 363 350 309 307 304
Financial Data CPH Chemie +
Papier Holding AG
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2017 31.12.2016 31.12.2015 31.12.2014 31.12.2013
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: Local
GAAP Local GAAP Local GAAP
Balance Sheet
Intangible fixed assets 4,822.0 3,091.0 2,413.0 1,320.0 1,248.0
Land and buildings 138,873.0 149,158.0 149,158.0 156,760.0 156,684.0
Other tangible fixed assets 245,178.0 235,411.0 255,142.0 262,384.0 276,969.0
Tangible fixed assets 384,051.0 384,569.0 404,300.0 419,144.0 433,653.0
Financial fixed assets 10,000.0 10,000.0 10,000.0 10,000.0 10,000.0
other fixed assets 56,434.0 52,644.0 20,209.0 25,523.0 22,363.0
Fixed assets 455,307.0 450,304.0 436,922.0 455,987.0 467,264.0
Stocks 59,215.0 68,939.0 54,521.0 63,389.0 56,877.0
Trade accounts receivable 77,819.0 69,065.0 66,419.0 79,472.0 70,802.0
Cash & Cash Equivalents 80,145.0 70,345.0 53,147.0 69,887.0 63,936.0
Securities 59.0 42.0 44.0 5,254.0 10,275.0
other trade accounts 18,010.0 8,943.0 8,035.0 7,779.0 7,290.0
Accruals 6,997.0 4,789.0 4,867.0 6,620.0 5,344.0
Other current assets 105,211.0 84,119.0 66,093.0 89,540.0 86,845.0
Current assets 242,245.0 222,123.0 187,033.0 232,401.0 214,524.0
Total assets 697,552.0 672,427.0 623,955.0 688,388.0 681,788.0
Capital 30,000.0 30,000.0 30,000.0 30,000.0 30,000.0
Other shareholders funds 363,275.0 348,101.0 372,706.0 412,003.0 404,263.0
Total shareholders equity 393,275.0 378,101.0 402,706.0 442,003.0 434,263.0
Minority interests 2,970.0 2,681.0 0.0 0.0 0.0
long term debt (financial debts) 143,473.0 145,580.0 126,521.0 127,981.0 117,875.0
Provisions 51,824.0 52,468.0 20,040.0 20,825.0 21,342.0
Other non current liabilities 613.0 1,189.0 3,326.0 3,051.0 3,263.0
Non current liabilities 195,910.0 199,237.0 149,887.0 151,857.0 142,480.0
short term debt (financial debts) 9,802.0 6,997.0 6,845.0 22,627.0 23,003.0
Trade accounts payable 69,529.0 53,085.0 46,700.0 53,756.0 59,366.0
Provisions 5,555.0 7,601.0 1,541.0 5,109.0 7,237.0
Accruals 17,163.0 16,450.0 13,630.0 9,098.0 10,995.0
other accounts payable 3,348.0 8,275.0 2,646.0 3,938.0 4,444.0
other current liabilities 26,066.0 32,326.0 17,817.0 18,145.0 22,676.0
Current liabilities 105,397.0 92,408.0 71,362.0 94,528.0 105,045.0
Shareh. equity, min. int. & liabilities 697,552.0 672,427.0 623,955.0 688,388.0 681,788.0
Profit and loss account
Sales 469,767.0
Reduction of proceeds 12,204.0
Net sales 457,563.0 434,835.0 420,046.0 492,463.0 481,303.0
Other operating revenue 5,656.0 19,440.0 6,563.0 13,077.0 10,167.0
Operating revenue 463,219.0 454,275.0 426,609.0 505,540.0 491,470.0
Cost of goods sold 302,107.0 231,967.0 289,448.0 324,458.0 331,049.0
Gross profit 161,112.0 222,308.0 137,161.0 181,082.0 160,421.0
Other operating expenses 158,211.0 216,417.0 157,170.0 163,566.0 436,154.0
Operating result 2,901.0 5,891.0 -20,009.0 17,516.0 -275,733.0
Interest revenues 37.0 56.0 21.0 22.0 46.0
other financial revenues 1,582.0 589.0 959.0 1,540.0 1,338.0
Financial income 1,619.0 645.0 980.0 1,562.0 1,384.0
Interest expenses 4,385.0 4,277.0 3,954.0 4,623.0 4,378.0
other financial expenses 3,838.0 1,434.0 9,127.0 2,560.0 889.0
Financial expenses 8,223.0 5,711.0 13,081.0 7,183.0 5,267.0
Financial result -6,604.0 -5,066.0 -12,101.0 -5,621.0 -3,883.0
Result before extraordinary items -3,703.0 825.0 -32,110.0 11,895.0 -279,616.0
Extraordinary income 22,840.0 134.0 0.0 0.0 0.0
Extraordinary expenses 4,398.0 0.0 0.0 0.0
Extraordinary Result 22,840.0 -4,264.0 0.0 0.0 0.0
Result before taxes 19,137.0 -3,439.0 -32,110.0 11,895.0 -279,616.0
Taxes 2,950.0 4,275.0 1,013.0 1,393.0 -8,136.0
Result before minority interests 16,187.0 -7,714.0 -33,123.0 10,502.0 -271,480.0
minority interests 204.0 191.0 0.0 0.0 0.0
Result for the financial year 15,983.0 -7,905.0 -33,123.0 10,502.0 -271,480.0
Cash flow
Depreciation 30,860.0 31,044.0 34,040.0 34,798.0 57,569.0
Cash flow 46,843.0 23,330.0 917.0 45,300.0 -213,911.0
Cash flow from operating activities 32,190.0 21,875.0 23,313.0 19,819.0 31,410.0
Investments in tangible fixed assets 32,314.0 20,720.0 21,922.0 19,170.0 18,201.0
Cash flow from investing activities -19,333.0 -19,937.0 -21,958.0 -19,389.0 -17,757.0
Cash flow from financing activities -3,273.0 15,155.0 -20,370.0 5,273.0 -14,183.0
Others 216.0 105.0 2,275.0 248.0 -192.0
Change in liquidity 9,800.0 17,198.0 -16,740.0 5,951.0 -722.0
Liquidity at beginning of the year 70,345.0 53,147.0 69,887.0 63,936.0 64,658.0
Liquidity at end of the year 80,145.0 70,345.0 53,147.0 69,887.0 63,936.0
Notes
Material costs 247,891.0 231,967.0 221,099.0 256,388.0 256,649.0
Cost of employees 84,471.0 88,969.0 86,331.0 87,678.0 85,623.0
Added value 138,853.0 120,851.0 92,215.0 138,994.0 -132,046.0
Working Capital 67,505.0 84,919.0 74,240.0 89,105.0 68,313.0
Net Current Assets 136,848.0 129,715.0 115,671.0 137,873.0 109,479.0
Sales per Employee 449.0 441.5 489.6 572.6 560.3
Market capitalisation 188,400.0 338,700.0 369,000.0
Gross cost land and buildings 333,606.0 338,467.0 389,221.0 390,650.0 384,157.0
Gross cost other tangible fixed assets 1,138,111.0 1,129,568.0 1,125,878.0 1,123,654.0 1,113,461.0
Gross cost total 1,471,717.0 1,468,035.0 1,515,099.0 1,514,304.0 1,497,618.0
Insurance value land and buildings 348,926.0
Insurance value other tang. fixed assets 1,254,287.0
Insurance value total 1,603,213.0
Employees at
year end 1,019 985 858 860 859
Employees inland 560 588 617 629 634
Employees abroad 459 397 241 231 225
Legal
Actions
Control date Year No. Amount CHF Status
12.11.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 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
Payment
experiences are considered to be in order.
Remarks
- The VAT
number - CHE-116.274.213 MWST - is the Group VAT number.
Credit
Information
Financial
Situation: The financial situation
is good.
Payment
experiences: No Complaints.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
|
CHF |
1 |
INR 69.22 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
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 |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.