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MIRA
INFORM REPORT
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Report No. : |
494862 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
GEBERIT INTERNATIONAL SALES AG |
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Registered Office : |
Neue Jonastrasse 59, 8640 Rapperswil/SG |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
09.11.2004 |
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Com. Reg. No.: |
320.3.056.259-7 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject engages in the
trade and distribution of products from the sanitary systems, which covers
all sanitary engineering in buildings (with the exception of piping) and is
divided into four product lines: installation systems, cisterns &
fittings, faucets & flushing systems, and equipment connections. |
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No. of Employees : |
10-19 |
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 (30.09.2017) |
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 2011-16.
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 And Address
Geberit International Sales
AG
Operating address:
Neue Jonastrasse
59
8640 Rapperswil/SG
Switzerland/CH
Telephone: +41
552216200
Fax: +41
552216750
Web site: http://www.geberit.com
E-mail: sales@geberit.com
WIN Worldbox No.: CH0006495879
VAT-No.: CHE-116.306.913
MWST
UID-No.: CHE112095930
Profile
Established: 2004
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4673 Wholesale of wood,
construction materials and sanitary equipment
Import/Export: Export
Banks: unknown
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 10-19
Activity
As a distribution
company of the Geberit group, the company engages in the trade and distribution
of products from the sanitary systems, which covers all sanitary engineering in
buildings (with the exception of piping) and is divided into four product
lines: installation systems, cisterns & fittings, faucets & flushing
systems, and equipment connections. In addition, the company engages in the
provision of services such as market development and export processing for the
Geberit group and its group companies.
Operations and
Branches:
At the address, Neue
Jonastrasse 59, 8640 Rapperswil, Switzerland, we find the company's registered
office.
Real
Estate
Real Estate: The
property at the operating address is rented.
Company
Register
Company No: 320.3.056.259-7
UID-No.: CHE112095930
Legal form: Company
limited by shares
Registration: 09.11.2004
Legal status: active
Responsible Register: Handelsregister des Kantons St. Gallen
History: Date
of Incorporation Statutes: 05.11.2004
Entry Deleted Name
09.11.2004 Geberit
International Sales AG
09.11.2004 Geberit
International Sales Inc. (Name translated)
09.11.2004 Geberit
International Sales Ltd. (Name translated)
09.11.2004 Geberit
International Sales SA (Name translated)
Entry Deleted Legal domicile
12.01.2007 Rapperswil-Jona,
Switzerland
09.11.2004 12.01.2007 Rapperswil SG, Switzerland
Entry Deleted Address
09.11.2004 Neue
Jonastrasse 59, 8640 Rapperswil/SG, Switzerland/CH
Entry Deleted Capital
09.11.2004 Share
Capital CHF 1,000,000, paid up CHF 1,000,000
Entry Deleted Capital Structure
09.11.2004 10,000
Registered shares of CHF 100.--
Official Administration
Title Name
President Christensen,
William James Graburn
Citizen: Thun,
Switzerland
Residential
address: Wilen bei Wollerau (Freienbach), Switzerland
joint signature of two
Registered
since: 03.02.2009
President van
Triest, Ronald
Citizen:
Netherlands
Residential
address: Zollikon, Switzerland
joint
signature of two
Registered
since: 21.07.2015
Director Iff,
Roland
Citizen:
Auswil, Switzerland
Residential
address: 8704 Herrliberg, Switzerland
joint
signature of two
Registered
since: 14.07.2005
Director Spachmann,
Karl
Citizen:
Germany
Residential
address: Schindellegi (Feusisberg), Switzerland
joint
signature of two
Registered
since: 01.05.2012
Management
Title Name
Member with signing authority Schmied, Stefan
Citizen:
Schwarzenburg, Switzerland
Residential
address: Dubai, United Arab Emirates
joint
power of attorney of two
Registered
since: 18.03.2011
Member with procuration Eberhard, Rudolf
Citizen:
Schänis, Switzerland
Residential
address: Rapperswil (Rapperswil-Jona)/SG, Switzerland
joint
power of attorney of two
Registered
since: 09.11.2004
Member with procuration Engelhard, Daniel
Citizen:
Optikon, Switzerland
Residential
address: Madetswil (Russikon), Switzerland
joint
power of attorney of two
Registered
since: 21.09.2017
Member with procuration Faisst, Patrick
Citizen:
Auw, Switzerland
Residential
address: Eschenbach /SG, Switzerland
joint
power of attorney of two
Registered
since: 25.07.2014
Member with procuration Loch, Thomas
Citizen:
Germany
Residential
address: Richterswil, Switzerland
joint
power of attorney of two
Registered
since: 24.12.2015
Member with procuration Probst, Marcel Roger
Citizen:
Lommiswil, Switzerland
Residential
address: Rapperswil (Rapperswil-Jona)/SG, Switzerland
joint
power of attorney of two
Registered
since: 26.08.2011
Member with procuration Schicker, Daniel Stefan
Citizen:
Baar, Switzerland
Residential
address: 6330 Cham, Switzerland
joint
power of attorney of two
Registered
since: 19.12.2008
External
Positions
Title Name
Auditor PricewaterhouseCoopers
AG,
Residential
address: St. Gallen, Switzerland
Id:
CH-320.9.045.078-2
Registered
since: 09.11.2004
Ultimate
Parent Company
Name: Geberit
AG
City/Country: Jona/SG,
Switzerland/CH
Direct
owner/-s
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%,
directly held
Name: Geberit
AG
City/Country: Jona/SG,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 2004)
Investments
It is believed that
the company has no investments.
Sisters
Name: Geberit
Finance Ltd
City/Country: Jersey,
United Kingdom/GB
Name: Geberit
Holding AG
City/Country: Jona/SG,
Switzerland/CH
Name: Geberit
Reinsurance Ltd
City/Country: Guernsey,
United Kingdom/GB
Financial
Financial Data Geberit AG
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: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: IAS IAS IAS IAS IAS
Balance Sheet
Intangible fixed assets 1,681,100.0 1,757,100.0 645,300.0 645,500.0 638,100.0
Land and buildings 360,100.0 290,000.0 236,400.0 226,100.0 222,300.0
Other tangible fixed assets 366,400.0 425,400.0 314,500.0 310,300.0 298,900.0
Tangible fixed assets 726,500.0 715,400.0 550,900.0 536,400.0 521,200.0
Financial fixed assets 26,100.0 24,800.0 22,400.0 36,400.0 21,800.0
other fixed assets 96,700.0 95,700.0 76,300.0 55,800.0 66,800.0
Fixed assets 2,530,400.0 2,593,000.0 1,294,900.0 1,274,100.0 1,247,900.0
Stocks 275,600.0 279,900.0 205,700.0 170,900.0 163,800.0
Trade accounts receivable 174,400.0 130,600.0 125,300.0 114,800.0 119,600.0
Cash & Cash Equivalents 509,700.0 459,600.0 749,700.0 538,100.0 361,300.0
Securities 300.0 800.0 0.0 74,700.0 61,800.0
other trade accounts 101,000.0 83,100.0 41,300.0 40,200.0 39,500.0
Accruals 9,700.0 6,800.0 14,600.0 13,200.0 13,500.0
Other current assets 620,700.0 550,300.0 805,600.0 666,200.0 476,100.0
Current assets 1,070,700.0 960,800.0 1,136,600.0 951,900.0 759,500.0
Total assets 3,601,100.0 3,553,800.0 2,431,500.0 2,226,000.0 2,007,400.0
Capital 3,700.0 3,800.0 3,800.0 3,800.0 3,900.0
Other shareholders funds 1,631,500.0 1,478,400.0 1,713,300.0 1,660,300.0 1,427,400.0
Total shareholders equity 1,635,200.0 1,482,200.0 1,717,100.0 1,664,100.0 1,431,300.0
Minority interests 0.0 0.0 0.0
long term debt (financial debts) 966,700.0 1,135,500.0 6,600.0 7,700.0 10,900.0
Provisions 360,600.0 30,900.0 21,600.0 20,600.0
Other non current liabilities 100,900.0 438,900.0 337,000.0 253,100.0 272,000.0
Non current liabilities 1,428,200.0 1,605,300.0 343,600.0 282,400.0 303,500.0
short term debt (financial debts) 4,200.0 3,700.0 3,900.0 4,000.0 3,800.0
Trade accounts payable 112,300.0 105,500.0 62,300.0 61,600.0 58,600.0
Provisions 37,700.0 31,600.0 2,000.0 72,300.0 72,000.0
Accruals 500.0 200.0
other accounts payable 383,500.0 325,500.0 302,600.0 141,100.0 138,000.0
other current liabilities 421,200.0 357,100.0 304,600.0 213,900.0 210,200.0
Current liabilities 537,700.0 466,300.0 370,800.0 279,500.0 272,600.0
Shareh. equity, min. int. & liabilities 3,601,100.0 3,553,800.0 2,431,500.0 2,226,000.0 2,007,400.0
Profit and loss account
Sales 2,809,000.0 2,593,700.0 2,404,400.0 2,291,600.0 2,187,800.0
Reduction of proceeds 315,300.0 291,700.0 268,200.0
Net sales 2,809,000.0 2,593,700.0 2,089,100.0 1,999,900.0 1,919,600.0
Other operating revenue 12,100.0 14,100.0
Operating revenue 2,809,000.0 2,593,700.0 2,089,100.0 2,012,000.0 1,933,700.0
Cost of goods sold 774,900.0 784,400.0 604,200.0 597,200.0 590,700.0
Gross profit 2,034,100.0 1,809,300.0 1,484,900.0 1,414,800.0 1,343,000.0
Other operating expenses 1,394,000.0 1,311,000.0 908,000.0 904,100.0 880,700.0
Operating result 640,100.0 498,300.0 576,900.0 510,700.0 462,300.0
Interest revenues 1,900.0 1,200.0 2,100.0 3,400.0 4,300.0
other financial revenues 2,300.0 200.0 0.0 0.0
Financial income 4,200.0 1,200.0 2,300.0 3,400.0 4,300.0
Interest expenses 9,500.0 9,000.0 1,700.0 1,300.0 5,900.0
other financial expenses 4,000.0 15,700.0 2,300.0 7,600.0 5,600.0
Financial expenses 13,500.0 24,700.0 4,000.0 8,900.0 11,500.0
Financial result -9,300.0 -23,500.0 -1,700.0 -5,500.0 -7,200.0
Result before extraordinary items 630,800.0 474,800.0 575,200.0 505,200.0 455,100.0
Extraordinary Result 0.0 0.0 0.0
Result before taxes 630,800.0 474,800.0 575,200.0 505,200.0 455,100.0
Taxes 82,600.0 52,400.0 76,600.0 69,400.0 62,800.0
Result before minority interests 548,200.0 422,400.0 498,600.0 435,800.0 392,300.0
minority interests 0.0 0.0 0.0 0.0
Result for the financial year 548,200.0 422,400.0 498,600.0 435,800.0 392,300.0
Cash flow
Depreciation 145,100.0 133,400.0 80,200.0 76,600.0 74,300.0
Cash flow 693,300.0 555,800.0 578,800.0 512,400.0 466,600.0
Cash flow from operating activities 715,200.0 612,100.0 575,500.0 559,800.0 494,000.0
Investments in tangible fixed assets 139,100.0 147,300.0 104,800.0 98,000.0 86,000.0
Cash flow from investing activities -99,700.0 -1,325,200.0 -26,300.0 -101,900.0 -58,600.0
Cash flow from financing activities -562,900.0 417,700.0 -337,000.0 -280,000.0 -527,800.0
Others -2,500.0 5,300.0 -600.0 -1,100.0 -1,300.0
Change in liquidity 50,100.0 -290,100.0 211,600.0 176,800.0 -93,700.0
Liquidity at beginning of the year 459,600.0 749,700.0 538,100.0 361,300.0 455,000.0
Liquidity at end of the year 509,700.0 459,600.0 749,700.0 538,100.0 361,300.0
Notes
Material costs 774,900.0 784,400.0 604,200.0 597,200.0 590,700.0
Cost of employees 702,000.0 671,600.0 483,900.0 475,400.0 463,500.0
Research and Development 68,700.0 56,700.0 50,100.0 50,900.0 49,800.0
Added value 1,487,400.0 1,288,800.0 1,141,000.0 1,058,500.0 998,800.0
Working Capital 337,700.0 305,000.0 268,700.0 224,100.0 224,800.0
Net Current Assets 533,000.0 494,500.0 765,800.0 672,400.0 486,900.0
Sales per Employee 242.3 213.9 334.4 321.2 312.9
Market capitalisation 12,859,000.0 12,791,000.0 10,224,000.0 7,819,000.0
Gross cost land and buildings 619,800.0 614,400.0 396,200.0 376,400.0 313,900.0
Gross cost other tangible fixed assets 1,468,900.0 1,507,800.0 995,900.0 938,700.0 677,700.0
Gross cost total 2,088,700.0 2,122,200.0 1,392,100.0 1,315,100.0 991,600.0
Insurance value land and buildings 872,600.0 440,000.0 433,600.0 432,200.0
Insurance value other tang. fixed assets 1,518,200.0 955,200.0 928,400.0 915,400.0
Insurance value total 2,390,800.0 1,395,200.0 1,362,000.0 1,347,600.0
Employees at
year end 11,592 12,126 6,247 6,226 6,134
Employees
average 11,972 12,477 6,303 6,219 6,150
Employees inland 1,336 1,333 1,262 1,255 1,259
Employees abroad 10,256 10,793 4,985 4,971 4,875
Offices 11,592
Offices inland 1,336
Offices abroad 10,256
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
Regular
Remarks
- The VAT number -
CHE-116.306.913 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
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 64.10 |
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1 |
INR 94.44 |
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Euro |
1 |
INR 79.59 |
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CHF |
1 |
INR 68.91 |
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 : |
KET |
RATING EXPLANATIONS
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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 |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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.