MIRA INFORM REPORT

 

 

Report Date :           

01.11.2011

 

IDENTIFICATION DETAILS

 

Name :

GIVAUDAN INTERNATIONAL SA

 

 

Registered Office :

Chemin de la Parfumerie 5, 1214 Vernier

 

 

Country :

Switzerland

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.11.2010

 

 

Com. Reg. No.:

660.2.746.010-3 / 999036

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

Subject is engaged in the fragrance and flavour industry

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

CHF 2'000'000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Switzerland

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

Givaudan International SA

 

 

Operating address

 

Chemin de la Parfumerie 5                                               Branch:

1214 Vernier                                                                   Ueberlandstrasse 138

Switzerland/CH                                                               8600  Dübendorf

                                                                                     Switzerland/CH

 

Telephone:                    022 7809111                               044 8242424

Fax:                             022 7809150                               044 8214478

 

Web site:                      http://www.givaudan.com

 

VAT-No.:                         CHE116193230

 

 

Profile

 

Established:                  2010

Line of Business:           Chemicals

Industry Division:           Manufacturing

Industry-code (NACE):     2053     Manufacture of essential oils

Import/Export:               Export

Banks:                         unknown

 

 

Operational Figures

 

Coverage:                     Company

Figures:                        estimated

Employees:                  20-34

Branches:                     2

 

 

Activity

 

The Company is the global leader in the fragrance and flavour industry, offering its products to global, regional and local food, beverage, consumer goods and fragrance companies. The Flavour Division has four business units: Beverages, Dairy, Savoury and Sweet Goods. The Fragrance Division has three business units: Fine Fragrances, Consumer Products and Fragrance Ingredients.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:                660.2.746.010-3 / 999036

Legal form:                    Company limited by shares

Registration:                 10.11.2010

Legal status:                 active

Responsible Register:    Registre du commerce du canton de Genève

Auditor:                        Deloitte SA, Meyrin

History:                        Date of Incorporation Statutes: 06.10.2010

 

Entry            Deleted   Name

10.11.2010                    Givaudan International SA

10.11.2010                    Givaudan International AG (Name translated)

10.11.2010                    Givaudan International Ltd (Name translated)

 

Entry            Deleted   Legal domicile

10.11.2010                    Vernier, Switzerland

 

Entry            Deleted   Address

10.11.2010                    Chemin de la Parfumerie 5, 1214 Vernier/GE, Switzerland/CH

 

Entry            Deleted   Capital

10.11.2010                    Share Capital CHF 100'000, paidup CHF 100'000

 

Entry            Deleted   Capital Structure

10.11.2010                    100 Bearer shares of CHF 1'000.--

 

Entry            Deleted   Activity (original Language)

10.11.2010                    Fabrication, distillation et mélange d'essences et de produits naturels et synthétiques pour la parfumerie, la cosmétique, la savonnerie, les produits alimentaires, les produits pharmaceutiques et les autres produits de consommation, ainsi que les produits pour toutes autres industries intéressées; achat, vente, commerce et toute autre exploitation de ces produits; recherche et développement techniques et scientifiques relatifs à ces produits, à leur fabrication et à leur utilisation (cf. statuts pour but complet).

 

Entry            Deleted   Remarks (original Language)

10.11.2010                    Publishing authority: Feuille Officielle Suisse du Commerce.

10.11.2010                    Reports: Communication aux actionnaires: Feuille Officielle Suisse du Commerce ou par lettre, fax ou courriel s'ils sont tous connus.

 

Entry            Deleted   Branches

active                           , 8310 Kemptthal/ZH, Switzerland/CH

active                           Überlandstrasse 138, 8600 Dübendorf/ZH, Switzerland/CH

 

Official Administration

 

Title                                           Name

President                                    Mutsaerts Wilhelmus, Origin: Pays-Bas, Switzerland, Address: Bagnes , Switzerland, joint signature of two, Appointment: 10.11.2010

Executive Director                       Heinrich Menzi, Origin: Filzbach, Switzerland, Address: Gossau/ZH, Switzerland, joint signature of two, Appointment: 10.11.2010

Executive Director                       Beat Bürke, Origin: Lucerne, Switzerland, Address: Le Vaud , Switzerland, joint signature of two, Appointment: 10.11.2010

 

 

Management

 

Title                                           Name

Member with signing authority      Alain Berlier, Origin: Belgium, Address: Thônex /GE, Switzerland, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Hervé Lamy , Origin: Lancy, Switzerland, Address: Pougny, France, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Vincent Mottet, Origin: Orvin, Switzerland, Address: Gland , Switzerland, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Daniel Mc Cafferty, Origin: Canada, Address: Küsnacht/ZH, Switzerland, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Stewart Harris, Origin: Grande-Bretagne, Switzerland, Address: Genève, Switzerland, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Johann Vuitton, Origin: Switzerland, Address: Thoiry, France, joint signature of two, Appointment: 01.06.2011

Member with signing authority      Pascal de Rougemont, Origin: Neuchâtel, Switzerland, Address: Archamps, France, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Roberto Garavagno, Origin: Genève, Switzerland, Address: Genève/GE, Switzerland, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Hans Nägeli , Origin: Winterthur, Switzerland, Address: Bülach , Switzerland, joint signature of two, Appointment: 10.11.2010

Member with signing authority      Nicolas Gex, Origin: Bulle, Switzerland, Address: Aubonne , Switzerland, joint signature of two, Appointment: 01.06.2011

Member with signing authority      Anne Chavy-Tayac, Origin: France, Address: Prévessin-Moëns, France, joint signature of two, Appointment: 10.11.2010

 

 

Financial Data Givaudan Group

 

Consolidation:               consolidated

Industry:                       Trade/Industry

 

Fiscal year end:                                     31.12.2010        31.12.2009        31.12.2008        31.12.2007        31.12.2006

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                              2'705'000.0        3'014'000.0        3'083'000.0        3'675'000.0        1'331'000.0

Land and buildings                                     708'000.0          791'000.0          817'000.0          824'000.0          566'000.0

Other tangible fixed assets                          604'000.0          646'000.0          669'000.0          764'000.0          574'000.0

Tangible fixed assets                                1'312'000.0        1'437'000.0        1'486'000.0        1'588'000.0        1'140'000.0

Financial fixed assets                                   27'000.0            47'000.0            59'000.0

other fixed assets                                       270'000.0          196'000.0          189'000.0          392'000.0          309'000.0

Fixed assets                                           4'314'000.0        4'694'000.0        4'817'000.0        5'655'000.0        2'780'000.0

Stocks                                                      735'000.0          633'000.0          755'000.0          780'000.0          535'000.0

Trade accounts receivable                           717'000.0          685'000.0          664'000.0          748'000.0          485'000.0

Liquid assets                                             805'000.0          825'000.0          419'000.0          359'000.0          424'000.0

Securities                                                  171'000.0            53'000.0          212'000.0          184'000.0          323'000.0

other trade accounts                                   181'000.0          193'000.0          130'000.0          171'000.0          153'000.0

Other current assets                                1'157'000.0        1'071'000.0          761'000.0          714'000.0          900'000.0

Current assets                                         2'609'000.0        2'389'000.0        2'180'000.0        2'242'000.0        1'920'000.0

Total assets                                            6'923'000.0        7'083'000.0        6'997'000.0        7'897'000.0        4'700'000.0

 

Capital                                                        92'000.0            85'000.0            73'000.0            73'000.0            72'000.0

Other shareholders funds                          3'354'000.0        2'720'000.0        2'014'000.0        2'602'000.0        2'721'000.0

Total shareholders equity                          3'446'000.0        2'805'000.0        2'087'000.0        2'675'000.0        2'793'000.0

Minority interests                                                 0.0              7'000.0             6'000.0              7'000.0             3'000.0

long term debt (financial debts)                  1'844'000.0        2'282'000.0        3'319'000.0        3'491'000.0          975'000.0

Provisions                                                   90'000.0          100'000.0            92'000.0            91'000.0            35'000.0

Other non current liabilities                          436'000.0          423'000.0          441'000.0          620'000.0          275'000.0

Non current liabilities                                2'370'000.0        2'805'000.0        3'852'000.0        4'202'000.0        1'285'000.0

short term debt (financial debts)                   344'000.0          791'000.0          282'000.0          228'000.0          189'000.0

Trade accounts payable                              344'000.0          322'000.0          331'000.0          381'000.0          173'000.0

Provisions                                                   35'000.0            25'000.0            31'000.0            41'000.0            10'000.0

other accounts payable                               384'000.0          328'000.0          408'000.0          363'000.0          247'000.0

other current liabilities                                 419'000.0          353'000.0          439'000.0          404'000.0          257'000.0

Current liabilities                                      1'107'000.0        1'466'000.0        1'052'000.0        1'013'000.0          619'000.0

Shareh. equity, min. interests + liabilities   6'923'000.0        7'083'000.0        6'997'000.0        7'897'000.0        4'700'000.0

 

Profit and loss account

Net sales                                                4'239'000.0        3'959'000.0        4'087'000.0        4'132'000.0        2'909'000.0

Other operating revenue                                  6'000.0              9'000.0            12'000.0            10'000.0                   0.0

Operating revenue                                    4'245'000.0        3'968'000.0        4'099'000.0        4'142'000.0        2'909'000.0

Cost of goods sold                                   2'283'000.0        2'179'000.0        2'225'000.0        2'191'000.0        1'473'000.0

Gross profit                                             1'962'000.0        1'789'000.0        1'874'000.0        1'951'000.0        1'436'000.0

Other operating expenses                         1'408'000.0        1'329'000.0        1'495'000.0        1'629'000.0          922'000.0

Operating result                                         554'000.0          460'000.0          379'000.0          322'000.0          514'000.0

Interest revenues                                           4'000.0              5'000.0             7'000.0              9'000.0             6'000.0

other financial revenues                                  1'000.0           -56'000.0           -78'000.0            38'000.0            55'000.0

Financial income                                           5'000.0           -51'000.0           -71'000.0            47'000.0            61'000.0

Interest expenses                                        82'000.0          119'000.0          118'000.0          121'000.0            46'000.0

other financial expenses                               40'000.0            23'000.0            35'000.0            83'000.0            21'000.0

Financial expenses                                    122'000.0          142'000.0          153'000.0          204'000.0            67'000.0

Financial result                                         -117'000.0         -193'000.0         -224'000.0         -157'000.0            -6'000.0

Result before extraordinary items                 437'000.0          267'000.0          155'000.0          165'000.0          508'000.0

Extraordinary income                                           0.0                   0.0                   0.0                   0.0                   0.0

Extraordinary expenses                                       0.0                   0.0                   0.0                   0.0                   0.0

Extraordinary Result                                            0.0                   0.0                   0.0                   0.0                   0.0

Result before taxes                                    437'000.0          267'000.0          155'000.0          165'000.0          508'000.0

Taxes                                                         97'000.0            67'000.0            43'000.0            71'000.0            95'000.0

Result before minority interests                   340'000.0          200'000.0          112'000.0            94'000.0          413'000.0

minority interests                                                 0.0              1'000.0             1'000.0              1'000.0             1'000.0

Result for the financial year                         340'000.0          199'000.0          111'000.0            93'000.0          412'000.0

 

Cash flow

Depreciation                                              115'000.0          176'000.0          232'000.0          224'000.0            19'000.0

Cash flow                                                  455'000.0          376'000.0          344'000.0          319'000.0          432'000.0

Cash flow from operating activities               730'000.0          738'000.0          541'000.0          532'000.0          449'000.0

Investments in tangible fixed assets             120'000.0          159'000.0          270'000.0          252'000.0          169'000.0

Cash flow from investing activities               -226'000.0           -83'000.0         -104'000.0       -2'972'000.0         -122'000.0

Cash flow from financing activities               -414'000.0         -247'000.0         -358'000.0        2'349'000.0         -191'000.0

Others                                                      -110'000.0             -2'000.0           -19'000.0            26'000.0            -1'000.0

Change in liquidity                                       -20'000.0          406'000.0            60'000.0           -65'000.0          135'000.0

Liquidity at beginning of the year                  825'000.0          419'000.0          359'000.0          424'000.0          289'000.0

Liquidity at end ot the year                          805'000.0          825'000.0          419'000.0          359'000.0          424'000.0

 

Notes

Material costs                                          2'283'000.0        2'179'000.0        2'225'000.0        2'191'000.0

Cost of employees                                   1'016'000.0          964'000.0        1'010'000.0          967'000.0          745'000.0

Research and Development                         336'000.0          326'000.0          344'000.0          371'000.0          246'000.0

Added value                                             1'650'000.0        1'526'000.0          155'000.0        1'477'000.0        1'318'000.0

Working Capital                                       1'108'000.0          996'000.0        1'088'000.0        1'147'000.0          847'000.0

Sales per Employee                                         491.9                465.7                465.9                470.8                480.4

Market capitalisation                                9'316'688.0        7'023'000.0        6'038'000.0        7'900'000.0        8'200'000.0

Gross cost land and buildings                   1'078'000.0          791'000.0          817'000.0        1'588'000.0          871'000.0

Gross cost other tangible fixed assets       1'576'000.0          646'000.0          669'000.0        1'356'000.0        1'342'000.0

Gross cost total                                       2'654'000.0        1'437'000.0        1'486'000.0        2'944'000.0        2'213'000.0

Insurance value total                                 4'012'000.0        3'548'000.0        3'610'000.0        3'654'000.0        2'281'000.0

 

Employees  at year end                                    8'618                8'501                8'772                8'776                6'056

Employees inland                                             1'552                1'494                1'506                1'468                1'447

Employees abroad                                            7'066                7'007                7'266                7'308                4'609

 

 

Ultimate Parent Company

 

Name:                          Givaudan SA

City/Country:                 Vernier, Switzerland/CH

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is domestic owned.

 

Class:                          100%

Name:                          Givaudan SA

City/Country:                 Vernier, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest (since 10.11.2010)

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

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.

 

 

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 good.

 

Payment experiences:   Financial obligations are met as appropriate.

 

Maximum Credit:           CHF 2'000'000

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.87

UK Pound

1

Rs.78.11

Euro

1

Rs.68.36

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.