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MIRA INFORM REPORT
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Report No. : |
497197 |
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Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
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Name : |
CHT SWITZERLAND AG |
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Registered Office : |
Kriessernstrasse 20 Industriegebiet Letzau 9462 Montlingen/SG |
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Country : |
Switzerland |
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Date of Incorporation : |
20.07.1971 |
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Com. Reg. No.: |
320.3.012.132-1 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The Subject develops,
produces and sells a complete range of textile dyes and textile auxiliaries
for all textile finishing areas. |
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No. of Employees : |
210 |
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 : |
Satisfactory |
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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 gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, 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 economic instability in Russia and other eastern European economies drove 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 through 2017.
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.
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Source
: CIA |
Company
name and address
CHT Switzerland AG
Operating address:
Kriessernstrasse
20
Industriegebiet
Letzau
9462
Montlingen/SG
Switzerland/CH
Telephone: +41 717638811
+41
717638719
Fax: +41
717638888
Web site: https://www.cht.com
E-mail: info.switzerland@cht.com
WIN Worldbox No.: CH0000250412
VAT-No.: CHE-107.294.062 MWST
UID-No.: CHE107294062
Profile
Established: 1971
History: 1971: Established
from Reinhold Beitlich
Line of Business: Chemicals
Industry Division: Manufacturing
Industry-code (NACE): 2030 Manufacture
of paints, varnishes and similar coatings, printing ink and mastics
2059 Manufacture of other chemical products
n.e.c.
Import/Export: Export
Export sales: 94,0%
Quality certification: ISO 9001:2015
ISO
14001:2015
OHSAS
18001:2007
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 210
Sales: CHF 100-200 Mio
Activity
The
company develops, produces and sells a complete range of textile dyes and
textile auxiliaries for all textile finishing areas. The company owns 35,000 m2
of operational space and infrastructure for all administrative, consulting and
training activities, laboratory services, research and development, as well as
production, warehousing and logistics.
Operations
and Branches:
At the
address, Kriessernstrasse 20, 9462 Montlingen, Switzerland, we find office of
the company.
Real Estate
Real Estate: The company owns buildings.
Area: 35,000 m2
Company Register
Company No: 320.3.012.132-1
UID-No.: CHE107294062
Legal form: Company limited by shares
Registration: 20.07.1971
Legal status: active
Responsible Register: Handelsregister des Kantons St. Gallen
History: Date of Statutes: 30.12.1987
Date
of Incorporation Statutes: 20.07.1971
Date
of Statutes: 30.05.2017
Date
of Statutes: 22.07.1996
Date
of Statutes: 28.10.1993
Date
of Statutes: 28.10.1992
Entry Deleted Name
13.06.2017 CHT
Switzerland AG
29.10.1992 Bezema-Chemie AG
29.10.1992 13.06.2017 Bezema AG
Entry Deleted Legal domicile
active Oberriet SG, Switzerland
Entry Deleted Address
17.10.1995 Kriessernstrasse
20, 9462 Montlingen/SG, Switzerland/CH
17.10.1995 Kriessernstrasse, 9462 Montlingen/SG,
Switzerland/CH
Entry Deleted Capital
05.11.1993 Share Capital CHF 2,000,000, paid up CHF
2,000,000
Entry Deleted Capital Structure
05.11.1993 2,000 Registered shares of CHF 1,000.--
Official Administration
Title Name
President Naumann, Dr. Frank
Citizen:
Germany
Residential
address: Stuttgart , Germany
single
signature
Registered
since: 28.08.2015
Management
Title Name
Director Butenberg, Regina
Citizen:
Germany
Residential
address: Oberriet /SG, Switzerland
joint
signature of two
Registered
since: 29.12.2016
Director Moutault, Benoit
Citizen:
France
Residential
address: Oberriet /SG, Switzerland
joint
signature of two
Registered
since: 29.12.2016
Member with procuration Böhler, Hermann
Citizen:
Austria
Residential
address: Koblach , Austria
joint
power of attorney of two
Registered
since: 25.08.2011
Member with procuration Pjanic, Sanel
Citizen:
Oberriet SG, Switzerland
Residential
address: Oberriet/SG, Switzerland
joint
power of attorney of two
Registered
since: 20.06.2014
Member with procuration Pridgar, Philipp
Citizen:
Berneck, Switzerland
Residential
address: Oberriet/SG, Switzerland
joint
power of attorney of two
Registered
since: 13.06.2012
Member with procuration Rohde, Thomas
Citizen:
Germany
Residential
address: Montlingen/SG, Switzerland
joint
power of attorney of two
Registered
since: 29.09.2017
Member with procuration Rüegg, Ivo
Citizen:
Eschenbach SG, Switzerland
Residential
address: 9323 Steinach/SG, Switzerland
joint power of attorney of two
Registered
since: 25.08.2011
Member with procuration Wörnhard, Roland
Citizen:
Oberriet SG, Switzerland
Residential
address: Oberriet/SG, Switzerland
joint
power of attorney of two
Registered
since: 09.07.2013
External
Positions
Title Name
Auditor Ernst & Young AG,
Residential
address: St. Gallen, Switzerland
Id:
CHE-327.393.030
Registered
since: 09.07.2013
Executive board
Title Name
Chief Financial Officer, Butenberg, Regina
(regina.butenberg@cht.com)
Chief Human Resources Officer
Chief Sales Officer Pjanic, Sanel
(sanel.pjanic@cht.com)
Chief Purchase Officer Rohde, Thomas
(thomas.rohde@cht.com)
Ultimate
Parent Company
Name: Vermögensträger
Beitlich GmbH
City/Country: Tübingen, Germany/DE
Direct owner/-s
No. of owner/-s: 1
Owner: The company is foreign owned.
Class: 100%,
directly held
Name: RB
Beitlich Industriebeteiligungen GmbH
City/Country: Tübingen, Germany/DE
Interest: 100,00% voting right, 100,00% capital
interest
Investments
It is
believed that the company has no investments.
Sisters
Name: Bezema Manufacture S.à r.l.
City/Country: Tunis, Tunisia/TN
Name: Bezema Tunisie S.à r.l.
City/Country: Tunis, Tunisia/TN
Name: CHT China Company Limited
City/Country: Tsuen Wan/New Territories, Hong Kong/HK
Financial Data Vermögensträger
Beitlich GmbH
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.
EUR th. EUR th. EUR th. EUR th.
EUR
Statement norm: Local GAAP Local GAAP Local
GAAP Local GAAP
Balance Sheet
Intangible fixed assets 6,493.0 6,250.0 3,475.3 5,283.9 7,102.4
Land and buildings 60,740.0 52,574.0 44,007.0 43,452.7 44,825.2
Other tangible fixed assets 40,113.0 45,471.0 36,773.0 28,901.7 30,570.0
Tangible fixed assets 100,853.0 98,045.0 80,780.0 72,354.4 75,395.2
Financial fixed assets 426.0 427.0 0.0 376.9 351.1
other fixed assets 1,352.0 1,220.0 1,685.5
Fixed assets 109,124.0 105,942.0 85,940.8 78,015.2 82,848.7
Stocks 99,110.0 92,220.0 104,529.5 85,895.1 88,046.6
Trade accounts receivable 104,124.0 107,452.0 103,582.8 93,094.2 92,409.6
Cash & Cash Equivalents 40,440.0 45,162.0 50,026.5 55,113.3 80,199.6
Securities 82,898.0 73,720.0 59,929.6 48,654.1 8,200.9
other trade accounts 10,029.0 10,855.0 12,796.7 12,372.8 13,462.1
Accruals 895.0 1,231.0 1,293.3 732.0 1,332.2
Other current assets 134,262.0 130,968.0 124,046.1 116,872.2 103,194.8
Current assets 337,496.0 330,640.0 332,158.4 295,861.5 283,651.0
Total assets 446,620.0 436,582.0 418,099.2 373,876.7 366,499.7
Capital 24,250.0 25,000.0 25,000.0 25,000.0 25,000.0
Other shareholders funds 342,871.0 322,556.0 321,997.5 270,981.4 265,526.5
Total shareholders equity 367,121.0 347,556.0 346,997.5 295,981.4 290,526.5
Minority interests 1,053.0 13,686.0 17,799.6 17,927.9
long term debt (financial debts) 2,432.0
Provisions 29,627.0 24,477.4 20,372.1 18,936.6
Non current liabilities 32,059.0 24,477.4 20,372.1 18,936.6
short term debt (financial debts) 3,195.0 8,400.7 6,742.9
Trade accounts payable 21,392.0 17,087.0 18,243.4 15,816.2 17,226.1
Provisions 1,924.0 32,776.0 1,053.7
other accounts payable 19,876.0 25,477.0 27,327.2 15,506.7 15,139.7
other current liabilities 21,800.0 58,253.0 28,380.9 15,506.7 15,139.7
Current liabilities 46,387.0 75,340.0 46,624.3 39,723.6 39,108.7
Shareh. equity, min. int. &
liabilities 446,620.0 436,582.0 418,099.2 373,876.7 366,499.7
Profit and loss
account
Sales 418,153.0 408,715.0 385,329.5 364,666.3 357,651.9
Reduction of proceeds -11,509.0
Net sales 418,153.0 408,715.0 396,838.5 364,666.3 357,651.9
Other operating revenue 16,420.0 16,451.0 10,343.2 8,492.5 10,996.0
Operating revenue 434,573.0 425,166.0 407,181.8 373,158.8 368,647.9
Cost of goods sold 198,553.0 206,763.0 207,685.4 187,935.2 191,895.6
Gross profit 236,020.0 218,403.0 199,496.4 185,223.6 176,752.3
Other operating expenses 189,071.0 186,090.0 163,944.5 161,726.3 156,773.4
Operating result 46,949.0 32,313.0 35,551.9 23,497.3 19,978.9
Interest revenues 1,522.0 2,212.0 1,429.6 1,807.8
other financial revenues 1,691.5
Financial income 1,522.0 2,212.0 1,691.5 1,429.6 1,807.8
Interest expenses 1,776.0 1,614.0 1,583.0 1,530.2 1,534.8
other financial expenses 589.0 1,799.0 1,915.4 147.0 99.8
Financial expenses 2,365.0 3,413.0 1,915.4 1,677.2 1,634.6
Financial result -843.0 -1,201.0 -223.9 -247.6 173.2
Result before extraordinary items 46,106.0 31,112.0 35,327.9 23,249.7 20,152.1
Extraordinary Result 0.0 0.0
Result before taxes 46,106.0 31,112.0 35,327.9 23,249.7 20,152.1
Taxes 12,022.0 11,544.0 8,827.3 6,385.2 5,506.6
Result before minority interests 34,084.0 19,568.0 26,500.6 16,864.5 14,645.5
minority interests 892.0 1,702.0 1,201.0 1,083.4
Result for the financial year 34,084.0 18,676.0 24,798.6 15,663.5 13,562.1
Cash flow
Depreciation 12,524.0 11,921.0 11,444.0 11,884.3 12,072.1
Cash flow 46,608.0 31,489.0 37,944.6 28,748.8 26,717.6
Cash flow from operating activities 44,185.0 48,064.0 17,745.0 24,508.0 16,414.0
Investments in tangible fixed assets 14,027.0 22,835.0 16,708.0 9,851.0 11,153.0
Cash flow from investing activities -35,184.0 -30,221.0 -18,888.0 -19,188.0 -10,638.0
Cash flow from financing activities -12,596.0 -4,445.0 -2,559.0 2,552.0 -3,189.0
Others -81.0 -343.0 1,418.0 -1,627.0 -542.0
Change in liquidity -3,676.0 13,055.0 -2,284.0 6,245.0 2,045.0
Liquidity at beginning of the year 98,094.0 85,039.0 87,323.0 81,078.0 79,033.0
Liquidity at end of the year 94,418.0 98,094.0 85,039.0 87,323.0 81,078.0
Notes
Material costs 198,244.0 192,561.0 203,333.0 187,598.8 191,895.6
Cost of employees 92,068.0 88,435.0 82,597.0 79,528.4 77,222.7
Added value 152,474.0 133,082.0 130,951.9 116,192.6 110,981.7
Working Capital 181,842.0 182,585.0 189,868.9 163,173.1 163,230.1
Net Current Assets 291,109.0 255,300.0 285,534.1 256,137.9 244,542.3
Sales per Employee 225.1 228.6 225.1 208.0 207.2
Gross cost land and buildings 104,457.1 104,771.3
Gross cost other tangible fixed assets 155,100.0 156,676.0
Gross cost total 259,557.1 261,447.3
Employees
average 1,858 1,788 1,763 1,753 1,726
Financials
Balance
sheet publication:
The
subject company does not publish financial figures.
Legal Actions
Control date Year No. Amount CHF Status
04.07.2017 2017 0 Legal
actions
31.12.2016 2016 0 Legal
actions
31.12.2015 2015 0 Legal
actions
31.12.2014 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
31.12.2006 2006 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.
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 is in order.
Payment experiences: No Complaints.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.94 |
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|
1 |
INR 90.72 |
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Euro |
1 |
INR 80.32 |
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CHF |
1 |
INR 68.70 |
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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PRA |
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Report Prepared
by : |
TRU |
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 |
|
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.