MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
INTERIO AG |
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Formerly Known as : |
SPORTXX AG |
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Registered Office : |
Gruenaustrasse 23 8953
Dietikon/ZH |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
24.04.1933 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Furnishing Houses, Residential Accessories |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR
150.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
Interio AG
Line of Business
Moebel,
Einrichtungshaus
Legal domicile
Gruenaustrasse
23
8953
Dietikon/ZH
Switzerland
Telephone: 056
4179111
Fax: 056 4179188
Homepage: www.interio.ch
E-Mail: info@interio.ch
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overall
assessment: |
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Business connections are
permissible. |
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detail
assessment: |
payments: |
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No complaints |
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individual
credit limit*: |
EUR 150.000,-- |
This credit
advice is based on information available at the time of conducting the
research, being the above indicated date.
All amounts in
this report are given in Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal
form: Joint stock company
First
Publication: 24-04-1933
Last
Publication: 25-09-2008
History:
The current Interio
AG dates back to 1974.
Share
capital: 1.000.000
Paid up: 1.000.000
Divided
into: 1.000 Shares of 1.000
Direct Parent
com.: Migros Beteiligungen AG, 8803
Rueschlikon/ZH, Switzerland/CH with a share of 100.
Company Management: Peter Blatter
Registered
name 27-12-2006 Interio AG
Previous Sportxx AG
Registered
domicile 19-09-2008, 8953 Dietikon/ZH
Previous,
8957 Spreitenbach/AG
ESTABLISHMENT DETAILS
Retail
shop: Industriestrasse 171, 8957
Spreitenbach
Telephone: 058
4553535, Fax: 058 4553588
ACTIVITY
Line of
business: Furnishing houses,
residential accessories
Sector: Retail
Activity:
The scope of business encompasses the operation of
self service furnishing houses, residential galeries and boutiques. The product
range encompasses furniture of every kind (tables, chairs, cupboards, beds
etc.), as well as accessories (Christmas decorations,
bedding, summer accessories). At 31 December 2007, Interio operated a total 20
locations (8 self service furnishing houses, 5 residential boutiques, 7
residential galeries).
Sales
distributions: Branches throughout
Switzerland.
Locations: Location of the important branches:
Duebendorf,
Abtwil, Schoenbuehl
EKZ, Emmenbruecke, Morges,
Vernier,
Spreitenbach, Pratteln.
The mentioned
branches are furnishing houses.
Trading
area: Switzerland
EMPLOYEES
Number of
employees: 501-1000
Average number
of employees of the Migros Group:
2007: 82'712
2006: 79'597
2005: 81'049
2004: 82'272
2003: 81'600
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal
actions: Information only
available against proof of interest.
There are no
complaints about the mode of payment and business conduct.
FINANCIAL DATA:
Financial
position: The financial situation is
good.
Financial
Statements: The company provides no financial statements.
Key figures
(in CHF 1.000):
Interio AG
31.12.2007
Sales 287'400.0
Consolidated
key figures (in CHF 1.000.000):
Migros Konzern
31.12.2007 31.12.2006 31.12.2005 31.12.2004
12 Months 12 Months 12 Months 12 Months
Sales 22'697.0 21'375.0 20'385.0 20'203.0
Operating Profit/Loss 1'043.0 948.0 607.0 543.0
Cost of employees 4'653.4 4'615.2 4'517.0 4'488.0
Depreciation 975.2 906.9 823.0 847.0
Profit/Loss 800.9 839.1 699.0 545.0
Cash-Flow 1'267.7 311.4 1'378.0 1'187.0
Investments 1'421.0 997.0 1'127.0 996.0
Shareholder funds 11'639.0 10'857.0 9'634.0 8'928.0
Balance sheet total 46'732.0 43'717.0 16'782.0 16'839.0
Inssured value of 21'323.8 20'788.3 19'910.0 19'753.0
assets
Takeover from: Globi-Verlag
8000 Zuerich/ZH
Type: Take over as a result of merger
Registered on: 19-09-2008
Contract date: 30-05-2007
Balance Sheet per: 31-12-2006
Assets: 6.048.381
Liabilities: 195.404
Takeover from: Hotel Touring & Red Ox,
Aktiengesellschaft
4000 Basel/BS
Type: Take over as a result of merger
Registered on: 19-09-2008
Contract date: 29-05-1981
Balance Sheet per: 31-12-1980
Banker(-s)
Various major
banks local branches
Auditors
Mitreva Treuhand und Revision AG, Zuerich
The group owns
numerous properties in Switzerland and abroad. The
consolidated
acquisition value and the book value of the land and
buildings, as
well as the insurance value of the real estate amount to
(in CHF, at 31
December):
Acquisition value Book
value Insurance value
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2007 8.887.300.000.-- 5.312.500.000.-- 12.141.200.000.--
2006 8.291.800.000.-- 4.996.000.000.-- 12.001.100.000.--
Fiscal
taxation: No information is
available due to the local tax authority regulation.
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent
com.: Migros Beteiligungen AG, 8803
Rueschlikon/ZH,
Switzerland/CH with a share of 100.
Ultimate
Parent com.: Migros-Genossenschaftsbund, 8000 Zuerich/ZH,
Switzerland/CH.
The Federation
of Migros Co-operatives are owned by the 10 regional
Migros societies
in Switzerland.
With a market
share of 18.4 percent (status: 2007) the Migros Group is
one of
Siwitzerland's leading retailers. Migros has activities in the
fields of food
and semi-luxury products and non-food.
Investments: Approximately 136 companies belong to
the group.
BOARD OF
DIRECTORS:
Dr. Dieter Berninghaus,
from Germany, in
Kuesnacht/ZH/Switzerland,
President, collective
signature.
Joerg Ch. Zulauf, from
Zuerich, in
Thalwil/ZH/Switzerland,
Vice President,
collective signature.
Herbert Bolliger, from
Schmiedrued, in
Oberrohrdorf/AG/Switzerland,
Member, collective signature.
MANAGEMENT:
Roger Bechtel, from
Stallikon, in
Birmensdorf/ZH/Switzerland,
Member of the Management
board, collective
signature.
Marion Eggenberger, from
Grabs, in
Zuerich/ZH/Switzerland,
Member of the Management
board, collective
signature.
Werner Jakob, from Langnau
im Emmental, in
Oberrohrdorf/AG/Switzerland,
Member of the Management
board, collective
signature.
Heinz Klausner, from
Zuerich, Benzenschwil, in
Kuesnacht/ZH/Switzerland,
Member of the Management
board, collective
signature.
Guido Rueegg, from
Gommiswald, in
Zuerich/ZH/Switzerland,
Member of the Management
board, collective
signature.
Robert Zoller, from
Binningen, in
Zuerich/ZH/Switzerland,
Member of the Management
board, collective
signature.
Peter Blatter, from
Oberegg, in
Bonstetten/ZH/Switzerland,
General Manager,
collective signature.
Bruno Wuerth, from
Zuerich, in
Zuerich/ZH/Switzerland,
Authorised signatory,
collective signature.
PERSONNEL INFORMATION
Herbert
Bolliger was born on 23.11.1953. He is married to Beatrice
Bolliger Suter,
born in 1959, and lives at the address Buacherstrasse 28
in 5452
Oberrohrdorf.
The top-level
members of the management enjoy a good reputation in
business
affairs.
FURTHER MANDATES
Herbert
Bolliger:
- Banque
Migros, Genf
- Hotelplan
Holding AG, Opfikon
- Magazine zum
Globus AG, Spreitenbach
- Migros
Beteiligungen AG, Rueschlikon
-
Migros-Genossenschafts-Bund, Zuerich
etc.
Dr. Dieter
Berninghaus:
- Denner AG,
Zuerich
- Ex Libris
AG, Dietikon
- Hotelplan
Holding AG, Opfikon
- Le Shop
S.A., Ecublens
- Magazine zum
Globus AG, Spreitenbach
etc.
COMMENTS
Regarding your
request on Pfadackerstrasse 6, 8957 Spreitenbach AG:
----------------------------------------------------------------
This address is
the former registered office of the company. As has been
referred to in
this report, the headquarters was relocated to Dietikon
effective
19.09.2008. In Spreitenbach, at Industriestrasse 171, there is
however still
one of Interio's furnishing houses.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.29 |
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UK Pound |
1 |
Rs.80.40 |
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Euro |
1 |
Rs.63.35 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)