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MIRA
INFORM REPORT
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Report No. : |
509886 |
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Report Date : |
24.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SSM VERTRIEBS AG |
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Registered Office : |
Hinterbergstrasse 20, 6312 Steinhausen/ZG |
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Country : |
Switzerland |
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Date of Incorporation : |
21.05.1999 |
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Com. Reg. No.: |
170.3.022.879-9 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The company engages in
the distribution and trade of textile machines as well as the provision of
any services related with it within the means of the SSM group. The company
is specialised in yarn processing and precision winding, offering advanced
winding systems for a wide application, operating in more than 62 countries |
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No. of Employees : |
5 |
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
SSM Vertriebs AG
Operating address:
Hinterbergstrasse
20
6312
Steinhausen/ZG
Switzerland/CH
Telephone: +41 41
7661626
Fax: +41
41 7661610
Web site: https://www.ssm.ch
E-mail: info@ssm.ch
WIN Worldbox No.: CH0000165295
VAT-No.: CHE-105.139.410
MWST
UID-No.: CHE105139410
Profile
Established: 1999
Line of Business: Industrial goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4664 Wholesale of
machinery for the textile industry and of sewing and knitting machines
Import/Export: Import
Banks: unknown
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 5
Sales: CHF
8-10 Mio
Activity
The company engages
in the distribution and trade of textile machines as well as the provision of
any services related with it within the means of the SSM group. The company is
specialised in yarn processing and precision winding, offering advanced winding
systems for a wide application, operating in more than 62 countries.
Winding solutions:
- Dye Packages /
Rewinding
- Air Texturing
- False Twist
Texturing
- Air Covering
- Draw Winding
- Assembly Winding
- Yarn Singeing
- Sewing Thread
- Conventional
Covering
Operations and
Branches:
At the address,
Hinterbergstrasse 20, 6312 Steinhausen, Switzerland, we find office of the
company.
Real Estate
Real Estate: The
property at the operating address is rented.
Company
Register
Company No: 170.3.022.879-9
UID-No.: CHE105139410
Legal form: Company
limited by shares
Registration: 21.05.1999
Legal status: active
Responsible Register: Handelsregister des Kantons Zug
History: Date
of Statutes: 03.01.2011
Date
of Incorporation Statutes: 08.03.1999
Entry Deleted Name
21.05.1999 SSM
Vertriebs AG
Entry Deleted Legal domicile
20.01.2011 Steinhausen,
Switzerland
21.05.1999 20.01.2011 Baar, Switzerland
Entry Deleted Address
03.01.2018 Hinterbergstrasse
20, 6312 Steinhausen, Switzerland/CH
20.01.2011 03.01.2018 Hinterbergstrasse 20, 6330 Cham/ZG,
Switzerland/CH
21.05.1999 20.01.2011 Neuhofstrasse 12, 6340 Baar/ZG, Switzerland/CH
Entry Deleted Capital
21.05.1999 Share
Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
21.05.1999 1,000
Registered shares of CHF 100.--
Entry Deleted Activity
21.05.1999 Trade
in textile machinery and provision of related services, may establish
subsidiaries to participate in other companies and acquire, hold and sell.
Entry Deleted Remarks
20.01.2011 Reports:
The notices to shareholders by letter, fax or e-mail to the addresses listed in
the share register.
21.05.1999 Publishing
authority: SHAB Swiss Gazette.
Official
Administration
Title Name
President Entleitner,
Serge Erwin
Citizen:
Austria
Residential
address: Koblach , Austria
joint
signature of two
Registered
since: 17.08.2017
Director Gröflin-Liebherr,
Joris
Citizen:
Basel, Switzerland
Residential
address: Zürich, Switzerland
joint
signature of two
Registered
since: 17.08.2017
Director Maurer,
Ernst
Citizen:
Zürich, Switzerland
Residential
address: Elgg, Switzerland
joint
signature of two
Registered
since: 17.08.2017
Management
Title Name
General Manager Maccabruni,
Davide
Citizen:
Basel, Switzerland
Residential
address: Thalwil, Switzerland
joint
signature of two
Registered
since: 12.04.2016
Member of the management Sarain, Marco Gilberto Edgar
Citizen:
Zürich, Switzerland
Residential
address: Zug, Switzerland
joint
signature of two
Registered
since: 16.04.2014
Member with signing authority Kälin-Walker, Sonja
Citizen:
Einsiedeln, Gurtnellen, Switzerland
Residential
address: 8846 Willerzell /SZ, Switzerland
joint signature of two
Registered
since: 13.11.2008
External Positions
Title Name
Auditor PricewaterhouseCoopers
AG,
Residential
address: Zürich, Switzerland
Id:
CHE-106.839.438
Registered
since: 11.10.2017
Ultimate Parent Company
Name: Rieter
Holding AG
City/Country: Winterthur/ZH,
Switzerland/CH
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%,
directly held
Name: SSM
Schärer Schweiter Mettler AG
City/Country: Horgen/ZH,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Investments
It is believed that
the company has no investments.
Sisters
Name: SSM
Giudici S.r.l.
City/Country: Galbiate/LC,
Italy/IT
Name: SSM
(Zhongshan) Ltd
City/Country: Zhongshan,
China/CN
Financials
Financial Data SSM Schärer Schweiter Mettler 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
Net sales 85,900.0 74,300.0 87,900.0 73,700.0 69,300.0
Operating revenue 87,600.0 74,100.0 88,200.0 74,900.0 69,800.0
Operating result 11,600.0 8,000.0 13,400.0 6,800.0 7,400.0
Result before minority interests 6,500.0 10,600.0 6,800.0 5,700.0
Capital 6,000.0 6,000.0 6,000.0 6,000.0 6,000.0
Total shareholders equity 16,100.0 19,000.0 13,400.0 5,000.0
Total assets 66,700.0 51,500.0 64,300.0 54,500.0 50,800.0
Depreciation 1,100.0 1,200.0 1,200.0 1,200.0 1,000.0
Cash flow 7,700.0 11,800.0 8,000.0 6,700.0
Investments in tangible fixed assets 2,200.0 800.0 1,200.0 800.0 1,200.0
Orders received 101,800.0 69,700.0 89,300.0 78,200.0 71,600.0
Sales per Employee 349.0 296.0 361.0 310.0 273.0
Employees at
year end 246 251 244 242 256
Financial Data Rieter
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: IAS IAS IAS IAS IAS
Balance Sheet
Intangible fixed assets 107,800.0 10,100.0 15,100.0 20,200.0 25,600.0
Land and buildings 113,400.0 133,900.0 141,900.0 133,400.0
Other tangible fixed assets 119,200.0 237,200.0 123,300.0 137,000.0 128,700.0
Tangible fixed assets 232,600.0 237,200.0 257,200.0 278,900.0 262,100.0
Financial fixed assets 4,000.0 3,000.0 2,700.0 2,900.0 2,900.0
other fixed assets 105,600.0 94,000.0 95,100.0 85,300.0 80,500.0
Fixed assets 450,000.0 344,300.0 370,100.0 387,300.0 371,100.0
Stocks 192,400.0 163,200.0 191,500.0 253,100.0 233,000.0
Trade accounts receivable 88,300.0 59,400.0 63,700.0 73,500.0 94,100.0
Cash & Cash Equivalents 243,300.0 365,600.0 326,500.0 336,900.0 360,800.0
Securities 3,500.0 7,000.0 7,500.0 108,700.0 8,900.0
other trade accounts 63,600.0 58,600.0 34,600.0 40,000.0 40,900.0
Accruals 7,100.0 7,500.0 9,900.0 5,200.0
Other current assets 317,500.0 431,200.0 376,100.0 495,500.0 415,800.0
Current assets 598,200.0 653,800.0 631,300.0 822,100.0 742,900.0
Total assets 1,048,200.0 998,100.0 1,001,400.0 1,209,400.0 1,114,000.0
Capital 23,400.0 23,361.8 23,400.0 23,400.0
Other shareholders funds 433,400.0 459,600.0 419,538.2 417,700.0 365,800.0
Total shareholders equity 456,800.0 459,600.0 442,900.0 441,100.0 389,200.0
Minority interests 700.0 1,100.0 900.0 800.0 500.0
long term debt (financial debts) 106,600.0 100,000.0 107,500.0 105,800.0 183,600.0
Provisions 86,900.0 71,200.0 107,100.0 105,900.0 104,500.0
Other non current liabilities 74,000.0 61,300.0 36,800.0 35,800.0 32,900.0
Non current liabilities 267,500.0 232,500.0 251,400.0 247,500.0 321,000.0
short term debt (financial debts) 11,100.0 9,100.0 14,100.0 168,100.0 44,800.0
Trade accounts payable 88,200.0 79,400.0 86,300.0 107,600.0 96,000.0
Provisions 32,900.0 26,500.0 32,100.0 27,200.0 30,400.0
Accruals 81,300.0 20,400.0 90,000.0 61,500.0
other accounts payable 109,700.0 189,900.0 153,300.0 127,100.0 170,600.0
other current liabilities 223,900.0 216,400.0 205,800.0 244,300.0 262,500.0
Current liabilities 323,200.0 304,900.0 306,200.0 520,000.0 403,300.0
Shareh. equity, min. int. & liabilities 1,048,200.0 998,100.0 1,001,400.0 1,209,400.0 1,114,000.0
Profit and loss account
Net sales 965,600.0 945,000.0 1,036,800.0 1,153,400.0 1,035,300.0
Other operating revenue 21,500.0 25,300.0 31,000.0 22,300.0 53,400.0
Operating revenue 987,100.0 970,300.0 1,067,800.0 1,175,700.0 1,088,700.0
Cost of goods sold 436,800.0 434,200.0 485,700.0 557,000.0 525,400.0
Gross profit 550,300.0 536,100.0 582,100.0 618,700.0 563,300.0
Other operating expenses 534,500.0 479,600.0 509,000.0 534,100.0 503,100.0
Operating result 15,800.0 56,500.0 73,100.0 84,600.0 60,200.0
Interest revenues 3,900.0 3,200.0 1,500.0 2,000.0 1,800.0
other financial revenues 700.0 400.0 1,700.0 2,100.0 8,500.0
Financial income 4,600.0 3,600.0 3,200.0 4,100.0 10,300.0
Interest expenses 4,400.0 6,300.0 7,400.0 12,700.0 15,800.0
other financial expenses 3,700.0 4,700.0 2,200.0
Financial expenses 4,400.0 6,300.0 11,100.0 17,400.0 18,000.0
Financial result 200.0 -2,700.0 -7,900.0 -13,300.0 -7,700.0
Result before extraordinary items 16,000.0 53,800.0 65,200.0 71,300.0 52,500.0
Extraordinary Result 0.0
Result before taxes 16,000.0 53,800.0 65,200.0 71,300.0 52,500.0
Taxes 2,700.0 11,100.0 15,400.0 18,400.0 15,100.0
Result before minority interests 13,300.0 42,700.0 49,800.0 52,900.0 37,400.0
minority interests 100.0 300.0 100.0 100.0 -2,000.0
Result for the financial year 13,200.0 42,400.0 49,700.0 52,800.0 39,400.0
Cash flow
Depreciation 48,900.0 39,300.0 42,800.0 40,800.0 35,000.0
Cash flow 62,100.0 82,000.0 92,600.0 93,700.0 72,400.0
Cash flow from operating activities 20,600.0 102,200.0 89,000.0 89,600.0 107,700.0
Investments in tangible fixed assets 29,400.0 30,900.0 31,600.0 42,200.0 55,000.0
Cash flow from investing activities -121,900.0 -25,900.0 -7,000.0 -40,500.0 -46,600.0
Cash flow from financing activities -19,400.0 -34,400.0 -84,800.0 -77,300.0 -40,000.0
Others -1,600.0 -2,800.0 -7,600.0 4,300.0 -2,900.0
Change in liquidity -122,300.0 39,100.0 -10,400.0 -23,900.0 18,200.0
Liquidity at beginning of the year 365,600.0 326,500.0 336,900.0 360,800.0 342,600.0
Liquidity at end of the year 243,300.0 365,600.0 326,500.0 336,900.0 360,800.0
Notes
Material costs 431,500.0 404,100.0 470,100.0 552,500.0 525,400.0
Cost of employees 282,800.0 273,400.0 288,900.0 307,100.0 296,700.0
Research and Development 48,000.0 46,600.0 46,300.0 45,000.0
Orders received 905,200.0 801,600.0 1,146,100.0 1,259,400.0
Added value 352,100.0 372,800.0 404,300.0 431,900.0 400,000.0
Working Capital 192,500.0 143,200.0 168,900.0 219,000.0 231,100.0
Net Current Assets 275,000.0 348,900.0 325,100.0 302,100.0 339,600.0
Sales per Employee 183.9 188.2 204.2 230.5 286.9
Market capitalisation 800,000.0 848,000.0 757,200.0 963,700.0
Gross cost land and buildings 261,100.0 249,900.0 267,900.0 284,100.0 271,100.0
Gross cost other tangible fixed assets 471,600.0 464,000.0 474,200.0 489,900.0 477,000.0
Gross cost total 732,700.0 713,900.0 742,100.0 774,000.0 748,100.0
Insurance value land and buildings 565,400.0 566,400.0
Employees at
year end 5,250 5,022 5,077 5,004 3,609
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 Complaints
Remarks
- 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 is in order.
Payment experiences: There are no objections regarding the payment of financial
obligations.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.02 |
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1 |
INR 91.25 |
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Euro |
1 |
INR 80.07 |
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CHF |
1 |
INR 68.72 |
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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NIY |
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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.