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MIRA
INFORM REPORT
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Report No. : |
510078 |
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Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PFISTERER IXOSIL AG |
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Registered Office : |
Gotthardstrasse 31 6460 Altdorf/UR /CH |
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Country : |
Switzerland |
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Date of Incorporation : |
30.06.2000 |
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Com. Reg. No.: |
120.3.001.661-0 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The company engages in the manufacture and trade of
products and components of the electrical engineering and electronics, in
particular of high-voltage cable systems up to 300 kV and cable components. |
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No. of Employees : |
75 |
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
PFISTERER Ixosil AG
Operating address:
Gotthardstrasse
31
6460
Altdorf/UR
Switzerland/CH
Telephone: +41
41 8747575
Fax: +41
41 8747576
Web site: http://www.ixosil.ch
E-mail: power@pfisterer.com
WIN Worldbox No.: CH0004057934
VAT-No.: CHE-105.565.876
MWST
UID-No.: CHE105565876
Profile
Established: 2000
Line of Business: Electro
technology, Consumer goods wholesale
Industry Division: Manufacturing,
Wholesale trade
Industry-code (NACE): 2611 Manufacture of electronic components
4652 Wholesale of electronic and
telecommunications equipment and parts
Import/Export: Import
Export sales: 90,0%
Quality certification: ISO
9001:2000 (since 2004)
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 75
Sales: CHF
60-80 Mio
Activity
The company engages in the manufacture and trade of products
and components of the electrical engineering and electronics, in particular of
high-voltage cable systems up to 300 kV and cable components. The company is
active in the field of power transmission and distribution, transportation and
the industry, being part of the PFISTERER Group, a German-Swiss family company
with a global network of production sites and sales offices. It develops,
produces and sells components and complete solutions for particularly sensitive
interfaces in modern energy networks.
Products:
- CONNEX
- IXOSIL Terminations
- IXOSIL cable sleeves
- TENSOREX
- SICON
- Cross Power
- 2DIREKT
- ISICOMPACT
- PLUG
Operations and Branches:
At the address, Gotthardstrasse
31, 6460 Altdorf, Switzerland, we find office of the company.
Real Estate
Real Estate: It
is understood that the company owns certain property.
Company Register
Company No: 120.3.001.661-0
UID-No.: CHE105565876
Legal form: Company
limited by shares
Registration: 30.06.2000
Legal status: active
Responsible Register: Handelsregister
des Kantons Uri
History: Date
of Statutes: 22.10.2015
Date
of Statutes: 19.12.2005
Date
of Statutes: 20.12.2001
Date
of Incorporation Statutes: 20.06.2000
Entry Deleted Name
23.12.2005 PFISTERER
Ixosil AG
23.12.2005 PFISTERER
Ixosil Ltd. (Name translated)
23.12.2005 PFISTERER
Ixosil SA (Name translated)
30.06.2000 01.01.2005 SEFAG Ixosil AG
30.06.2000 23.12.2005 SEFAG Ixosil Ltd (Name translated)
30.06.2000 23.12.2005 SEFAG Ixosil SA (Name translated)
Entry Deleted Legal domicile
30.06.2000 Altdorf
(UR), Switzerland
Entry Deleted Address
30.06.2000 Gotthardstrasse
31, 6460 Altdorf, Switzerland/CH
Entry Deleted Capital
21.12.2001 Share
Capital CHF 1,000,000, paidup CHF 1,000,000
Entry Deleted Capital Structure
21.12.2001 1,000
Registered shares of CHF 1,000.--
Official Administration
Title Name
Director Billhardt,
Martin
Citizen:
Germany
Residential
address: Freienbach, Switzerland
single
signature
Registered
since: 11.04.2018
Management
Title Name
Director Burgener,
Arthur
Citizen:
Kriens, Switzerland
Residential
address: Schwarzenberg, Switzerland
joint
signature of two
Registered
since: 03.01.2018
Member with procuration Arnold,
Peter
Citizen:
Spiringen, Switzerland
Residential
address: Schattdorf, Switzerland
joint
power of attorney of two
Registered
since: 30.11.2016
Member with procuration Ferruzzi,
Fabrizio
Citizen:
Italy
Residential
address: Schattdorf, Switzerland
joint
power of attorney of two
Registered
since: 16.12.2008
Member with procuration Freilinger,
Matthias
Citizen:
Germany
Residential
address: Rothenburg, Switzerland
joint
power of attorney of two
Registered
since: 24.12.2014
Member with procuration Niederberger,
Bernhard Leo
Citizen:
Wolfenschiessen, Switzerland
Residential
address: Engelberg, Switzerland
joint
signature of two
Registered
since: 05.12.2011
Member with procuration Santana
Uranga, Eduardo
Citizen:
Spain
Residential
address: Seuzach, Switzerland
joint
power of attorney of two
Registered
since: 30.04.2013
Member with procuration Stemmer,
Hans-Peter
Citizen:
Germany
Residential
address: Ulm , Germany
joint
power of attorney of two
Registered
since: 14.03.2018
External Positions
Title Name
Auditor BDO
AG,
Residential
address: Luzern, Switzerland
Id:
CH-100.9.010.550-2
Registered
since: 30.08.2005
Ultimate Parent Company
Name: Pfisterer
Holding Aktiengesellschaft
City/Country: Winterbach/Baden-Württemberg,
Germany/DE
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%,
directly held
Name: PFISTERER
SEFAG AG
City/Country: Malters/LU,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Investments
It is believed that the company
has no investments.
Financial Data Pfisterer Holding Aktiengesellschaft
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
Balance Sheet
Intangible
fixed assets 31,805.0 44,083.0 2,105.2 751.1 918.6
Land
and buildings 32,676.0 32,544.0
Other
tangible fixed assets 51,381.0 44,348.0
Tangible
fixed assets 84,057.0 76,892.0 46,719.0 46,466.0 52,336.2
Financial
fixed assets 54.0 65.0
other
fixed assets 64.7 310.0 59.4
Fixed
assets 115,916.0 121,040.0 48,889.1 47,527.3 53,314.3
Stocks 77,843.0 90,621.0 47,386.3 46,339.6 47,137.2
Trade
accounts receivable 61,838.0 63,403.0 51,160.0 39,024.5 43,490.4
Cash
& Cash Equivalents 24,467.0 26,755.0 27,698.4 35,159.9 27,993.3
Securities 255.0
other
trade accounts 7,387.0 14,299.0
Accruals 1,548.0 1,786.0
Other
current assets 33,657.0 42,840.0 44,406.2 43,492.8 35,203.2
Current
assets 173,338.0 196,864.0 142,952.6 128,856.9 125,830.9
Total
assets 289,254.0 317,904.0 191,841.7 176,384.2 179,145.3
Capital 12,000.0 12,000.0 12,000.0 12,000.0 12,000.0
Other
shareholders funds 81,385.0 96,051.0 103,596.6 96,132.0 88,666.6
Total
shareholders equity 93,385.0 108,051.0 115,596.6 108,132.0 100,666.6
Minority
interests 1,616.0 1,164.0
long
term debt (financial debts) 5,908.0 6,439.3 3,723.4
Provisions 56,859.0 57,656.0 37,740.4 39,229.8 37,959.2
Non
current liabilities 56,859.0 57,656.0 43,648.4 45,669.1 41,682.6
short
term debt (financial debts) 106,726.0 99,899.0 4,566.0 2,152.0 7,529.0
Trade
accounts payable 20,275.0 23,700.0 12,668.4 12,381.7 20,713.1
Provisions 3,816.0 570.0
Accruals 186.0 55.0 1,044.6
other
accounts payable 6,391.0 26,809.0
other
current liabilities 10,393.0 27,434.0 15,362.2 8,049.3 8,553.9
Current
liabilities 137,394.0 151,033.0 32,596.6 22,583.0 36,796.0
Shareh.
equity, min. int. & liabilities 289,254.0 317,904.0 191,841.7 176,384.2 179,145.3
Profit and loss account
Sales 381,787.0 299,465.0
Net
sales 381,787.0 299,465.0 251,202.2 256,378.4 253,459.7
Other
operating revenue 16,925.0 18,589.0
Operating
revenue 398,712.0 318,054.0 256,097.2 261,363.4 258,173.0
Cost
of goods sold 178,316.0 137,254.0
Gross
profit 220,396.0 180,800.0
Other
operating expenses 224,428.0 174,276.0 74,642.9
Operating
result -4,032.0 6,524.0 16,481.3 19,538.0 14,404.2
Interest
revenues 359.0 652.0
other
financial revenues 11.0 4.0
Financial
income 370.0 656.0 141.7 405.8 532.8
Interest
expenses 3,410.0 4,450.0 2,032.0 1,764.0 2,276.3
other
financial expenses 4.0 1.0
Financial
expenses 3,414.0 4,451.0 2,032.0 1,764.0 2,276.3
Financial
result -3,044.0 -3,795.0 -1,890.3 -1,358.2 -1,743.5
Result
before extraordinary items -7,076.0 2,729.0 14,590.9 18,179.8 12,660.7
Extraordinary
expenses 2,499.0
Extraordinary
Result -2,499.0
Result
before taxes -7,076.0 230.0 14,590.9 18,179.8 12,660.7
Taxes 4,766.0 4,519.0 4,168.4 4,089.6 3,575.2
Result
before minority interests -11,842.0 -4,289.0 10,422.4 14,090.1 9,085.4
minority
interests 520.0 408.0
Result
for the financial year -12,362.0 -4,697.0 10,422.4 14,090.1 9,085.4
Cash flow
Depreciation 24,885.0 12,883.0 8,496.0 8,574.3 9,113.6
Cash
flow 12,523.0 8,594.0 18,918.5 22,664.5 18,199.1
Cash
flow from operating activities 17,042.0 30,045.0
Investments
in tangible fixed assets 19,791.0
Cash
flow from investing activities -19,211.0 -114,978.0
Cash
flow from financing activities -10,420.0 71,266.0
Others -741.0 2,795.0
Change
in liquidity -13,330.0 -10,872.0
Liquidity
at beginning of the year 15,276.0 26,148.0
Liquidity
at end of the year 1,946.0 15,276.0
Notes
Material
costs 168,106.0 124,419.0 104,779.5 106,955.1 106,572.2
Cost
of employees 122,196.0 93,304.0 74,642.8 72,116.0 73,998.8
Added
value 143,415.0 110,867.0 99,761.9 100,634.3 98,049.5
Working
Capital 119,406.0 130,324.0 85,877.9 72,982.4 69,914.5
Net
Current Assets 35,944.0 45,831.0 110,356.0 106,273.9 89,034.9
Sales
per Employee 147.7 110.3 170.3 179.2 174.9
Employees at year end 2,585 2,714 1,475 1,431 1,449
Employees average 2,635 1,785
Financials
Balance sheet publication:
The subject company does not
publish financial figures.
Legal Actions
Control
date Year No. Amount
CHF Status
06.04.2018 2018 0 Legal
actions
31.12.2017 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
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 considered to be 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 68.39 |
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1 |
INR 91.44 |
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Euro |
1 |
INR 80.14 |
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CHF |
1 |
INR 68.39 |
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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PRI |
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Report Prepared
by : |
TRU |
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.