MIRA INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHARLES VÖGELE TRADING AG |
|
|
|
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Registered Office : |
Gwattstrasse 15, Postfach, 8808 Pfäffikon |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
21.12.1994 |
|
|
|
|
Com. Reg. No.: |
130.0.007.352-0 / 420470 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
services in the administrative, commercial and
computer science |
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
Charles Vögele Trading AG
Operating address
Gwattstrasse 15
Postfach
8808 Pfäffikon
Switzerland/CH
Telephone: 055
4167111
Fax: 055
4167171
Web
site: http://www.voegele-mode.com
E-mail: service@charles-voegele.com
VAT-No.: CHE107704887
Profile
Established: 1955
Line
of Business: IT services,
Commercial services
Industry
Division: Services
Industry-code (NACE): 6209 Other information technology and computer
service activities
6201 Computer programming activities
8299 Other business support service activities
n.e.c.
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Employees: 250
Sales: CHF 80-100 Mio
Activity
The business activities includes services in the administrative,
commercial and computer science area of the Charles Vögele Group.
Real Estate
Information on property ownership was not available.
Company Register
Company
No: 130.0.007.352-0 /
420470
Legal
form: Company limited
by shares
Registration: 21.12.1994
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Schwyz
Auditor: PricewaterhouseCoopers
AG, Zürich
History: Date of Statutes:
16.09.2002
Date of
Statutes: 30.11.1999
Date of
Statutes: 27.01.1998
Date of
Incorporation Statutes: 19.12.1994
Entry Deleted Name
30.01.1998 Charles
Vögele Trading AG
21.12.1994 30.01.1998 Charles Vögele Informatik AG
Entry Deleted Legal domicile
21.12.1994 Freienbach,
Switzerland
Entry Deleted Address
21.12.1994 Gwattstrasse
15, 8808 Pfäffikon/SZ, Switzerland/CH
Entry Deleted Capital
01.12.1999 Share
Capital CHF 10'000'000, paidup CHF 10'000'000
21.12.1994 01.12.1999 Share Capital CHF 100'000, paidup CHF 100'000
Entry Deleted Capital Structure
01.12.1999 10'000
Registered shares with restricted transferability of CHF 1'000.--
21.12.1994 01.12.1999 100 Registered shares with restricted
transferability of CHF 1'000.--
Entry Deleted Activity (original Language)
17.09.2002 Erbringung
von zentralen Dienstleistungen im Verwaltungs-, Einkaufs- und Informatikbereich
der Charles Vögele-Gruppe; stellt die EDV-Infrastruktur der Charles
Vögele-Gruppe zur Verfügung und kann Outsourcing-Dienstleistungen auf dem
Gebiet der Datenverarbeitung erbringen; kann sich an anderen Unternehmen
beteiligen, Grundstücke erwerben und anderen Gesellschaften der Charles
Vögele-Gruppe Darlehen oder andere Finanzierungen gewähren und für
Verbindlichkeiten von solchen anderen Gesellschaften Sicherheiten aller Art stellen,
einschliesslich mittels Pfandrechten an oder fiduziarischen Übereignungen von
Aktiven der Gesellschaft oder Garantien jedwelcher Art.
30.01.1998 17.09.2002 Erbringung von zentralen Dienstleistungen im
Verwaltungs-, Einkaufs- und Informatikbereich der Charles Vögele Gruppe; stellt
die EDV Infrastruktur der Charles Vögele Gruppe zur Verfügung und kann
Outsourcing-Dienstleistungen auf dem Gebiet der Datenverarbeitung erbringen;
kann sich an anderen Unternehmungen beteiligen, Garantien und Bürgschaften für
verbundene Unternehmen und Dritte eingehen sowie Grundstücke erwerben.
21.12.1994 30.01.1998 Erbringung von Outsourcing-Dienstleistungen
auf dem Gebiet der Datenverarbeitung und Zurverfügungstellung der
Infrastruktur; kann auch Grundeigentum erwerben, halten und veräussern und sich
an anderen Unternehmungen beteiligen.
Entry Deleted Remarks (original Language)
11.06.2010 Merger:
Übernahme der Aktiven und Passiven der Prodress AG (CH-130.0.006.235-6), in Pfäffikon
SZ, Gemeinde Freienbach, gemäss Fusionsvertrag vom 4.5.2010 und Bilanz per
31.12.2009. Aktiven von CHF 19'547'853.27 und Fremdkapital von CHF 408'748.17
gehen auf die übernehmende Gesellschaft über. Da dieselben Aktionäre sämtliche
Aktien der an der Fusion beteiligten Gesellschaften halten, findet weder eine
Kapitalerhöhung noch eine Aktienzuteilung statt.
21.12.1994 Publishing
authority: SHAB.
21.12.1994 Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
11.05.2010 11.06.2010 Merger: Übernahme der Aktiven und Passiven der
Prodress AG ( CH-130.0.006.235-6 ), in Pfäffikon, Gemeinde Freienbach, gemäss
Fusionsvertrag vom 4.5.2010 und Bilanz per 31.12.2009. Aktiven von CHF
446'809'141.54 und Fremdkapital von CHF 70'530'256.67 gehen auf die
übernehmende Gesellschaft über. Da dieselben Aktionäre sämtliche Aktien der an
der Fusion beteiligten Gesellschaften halten, findet weder eine Kapitalerhöhung
noch eine Aktienzuteilung statt.
Official Administration
Title Name
President André
Maeder, Origin: Ried bei Kerzers, Switzerland, Address: 8832 Wilen/SZ,
Switzerland, joint signature of two, Appointment: 28.05.2009
Vice-President Markus Voegeli,
Origin: Zürich, Zauggenried, Switzerland, Address: 8700 Küsnacht /ZH, Switzerland,
joint signature of two, Appointment: 20.11.2009
Executive
Director Frank
Beeck, Origin: Germany, Address: Bäch/SZ, Switzerland, joint signature of two,
Appointment: 13.09.2010
Management
Title Name
Vice-Director Michael Hofmann,
Origin: Germany, Address: 8808 Pfäffikon/SZ, Switzerland, joint signature of
two
Vice-Director Karin Schmidt,
Origin: Fällanden, Switzerland, Address: Fällanden, Switzerland, joint
signature of two, Appointment: 21.04.2011
Vice-Director Karin B. Portmann
Zürcher, Origin: Schüpfheim, Switzerland, Address: Zug/ZG, Switzerland, joint
signature of two, Appointment: 20.11.2009
Vice-Director Martin Schulte im
Rodde, Origin: Germany, Address: Schübelbach, Switzerland, joint signature of
two, Appointment: 21.04.2011
Vice-Director Heinrich Kälin,
Origin: Einsiedeln, Switzerland, Address: Pfäffikon/SZ, Switzerland, joint
signature of two
Vice-Director Jürg Bieri,
Origin: Schangnau, Switzerland, Address: Bassersdorf, Switzerland, joint
signature of two
Vice-Director Giacomo Tovena, Origin:
Breitenbach, Switzerland, Address: Meilen, Switzerland, joint signature of two
Vice-Director Bernhard
Westphal, Origin: Germany, Address: Eschenbach/SG, Switzerland, joint power of
attorney of two
Vice-Director Martin Graf,
Origin: Zürich, Grub AR, Switzerland, Address: Meilen, Switzerland, joint
signature of two
Vice-Director Rudolf Peter
Scheben, Origin: Germany, Address: Freienbach, Switzerland, joint signature of
two, Appointment: 13.09.2010
Vice-Director Andreas Hink,
Origin: Germany, Address: 8702 Zollikon/ZH, Switzerland, joint signature of
two, Appointment: 13.09.2010
Vice-Director Michael Fenzl,
Origin: Germany, Address: 8807 Freienbach/SZ, Switzerland, joint signature of
two, Appointment: 13.09.2010
Vice-Director Sebastiaan
Johannes Maria Duijsens, Origin: Netherlands, Address: 8832 Wollerau/SZ,
Switzerland, joint signature of two, Appointment: 13.09.2010
Vice-Director Hans Peter
Thomas, Origin: Germany, Address: 8808 Pfäffikon /SZ, Switzerland, joint
signature of two, Appointment: 13.09.2010
Vice-Director Thomas Friedrich
Beckmann, Origin: Germany, Address: 6403 Küssnacht /SZ, Switzerland, joint
signature of two
Vice-Director Claudia Kirschke,
Origin: Germany, Address: 8808 Pfäffikon /SZ, Switzerland, joint signature of
two
Vice-Director Mike Stefan
Mählmann, Origin: Germany, Address: 8000 Zürich/ZH, Switzerland, joint
signature of two, Appointment: 13.09.2010
Member
with signing authority Hans Ziegler,
Origin: Neuheim, Switzerland, Address: Feusisberg, Switzerland, joint signature
of two, Appointment: 20.11.2009
Member
with signing authority Patrizia
Barbara Vetter, Origin: Arlesheim, Switzerland, Address: Arlesheim,
Switzerland, joint signature of two, Appointment: 30.08.2011
Member
with signing authority Thorsten
Benjamin Stutzmann, Origin: Germany, Address: Fällanden, Switzerland, joint
signature of two, Appointment: 30.08.2011
Member
with signing authority Catrin
Bernadette Hardung, Origin: Germany, Address: Lachen, Switzerland, joint
signature of two, Appointment: 30.08.2011
Member
with signing authority Nadine Augé,
Origin: Germany, Address: Lachen, Switzerland, joint signature of two,
Appointment: 30.08.2011
Member
with signing authority Alain
Caparros, Origin: France, Address: Düsseldorf , Germany, joint signature of
two, Appointment: 20.11.2009
Member
with procuration Agatha Heer,
Origin: Glarus, Switzerland, Address: Tuggen, Switzerland, joint power of
attorney of two
Member
with procuration Patrick
Trümpler, Origin: Zürich, Rüschikon, Switzerland, Address: Auslikon,
Switzerland, joint power of attorney of two
Member
with procuration Andreas
Blättler, Origin: Bülach, Switzerland, Address: Bülach, Switzerland, joint
power of attorney of two
Member
with procuration Barbara
Gabour, Origin: Amriswil, Switzerland, Address: Uetikon am See, Switzerland,
joint power of attorney of two
Member
with procuration Emanuel
Schärli, Origin: Sursee, Switzerland, Address: Oberkirch, Switzerland, joint
power of attorney of two
Member
with procuration Peter
Bühler, Origin: Ettiswil, Menznau, Switzerland, Address: Unterägeri,
Switzerland, joint power of attorney of two
Executive board
Title Name
Chief
Executive Officer André
Maeder
Financial Data Charles Vögele
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 82'409.0 82'777.0 83'144.0 79'168.0 77'821.0
Land and buildings 146'203.0 157'448.0 170'015.0 178'991.0 183'005.0
Other tangible
fixed assets 206'624.0 242'906.0 258'399.0 264'411.0 241'620.0
Tangible fixed
assets 352'827.0 400'354.0 428'414.0 443'402.0 424'625.0
Financial fixed
assets 759.0 600.0 1'157.0 712.0 696.0
other fixed assets 4'857.0 5'638.0 7'240.0 15'115.0 14'900.0
Fixed assets 440'852.0 489'369.0 519'955.0 538'397.0 518'042.0
Stocks 150'365.0 173'022.0 282'628.0 288'741.0 280'627.0
Trade accounts
receivable 14'361.0 14'092.0 27'973.0 4'398.0 5'446.0
Liquid assets 129'529.0 127'649.0 47'947.0 42'076.0 41'756.0
other trade
accounts 18'336.0 10'204.0 6'321.0 29'725.0 26'165.0
Accruals 3'003.0 3'645.0 6'843.0 13'671.0 12'724.0
Other current
assets 150'868.0 141'498.0 61'111.0 85'472.0 80'645.0
Current assets 315'594.0 328'612.0 371'712.0 378'611.0 366'718.0
Total assets 756'446.0 817'981.0 891'667.0 917'008.0 884'760.0
Capital 30'800.0 30'800.0 35'200.0 52'800.0 70'400.0
Other shareholders
funds 441'829.0 453'345.0 460'169.0 470'482.0 418'265.0
Total shareholders
equity 472'629.0 484'145.0 495'369.0 523'282.0 488'665.0
Minority interests 0.0 0.0 0.0 0.0 0.0
long term debt
(financial debts) 64'659.0 106'500.0 159'458.0 134'303.0 154'836.0
Provisions 6'201.0 6'747.0 6'874.0 7'808.0 7'927.0
Other non current
liabilities 30'200.0 65'811.0 75'927.0 84'975.0 87'367.0
Non current
liabilities 101'060.0 179'058.0 242'259.0 227'086.0 250'130.0
short term debt
(financial debts) 38'705.0 3'383.0 2'845.0 19'085.0 7'187.0
Trade accounts
payable 40'725.0 47'926.0 53'303.0 61'714.0 60'317.0
Provisions 9'254.0 6'063.0 456.0
Accruals 35'571.0 44'931.0 42'455.0 39'796.0 49'131.0
other accounts
payable 58'502.0 52'475.0 54'980.0 46'045.0 29'330.0
other current
liabilities 103'327.0 103'469.0 97'891.0 85'841.0 78'461.0
Current
liabilities 182'757.0 154'778.0 154'039.0 166'640.0 145'965.0
Shareh. equity,
min. interests + liabilities 756'446.0 817'981.0 891'667.0 917'008.0 884'760.0
Profit and loss
account
Sales 1'416'016.0 1'547'940.0 1'606'794.0 1'626'000.0 1'523'200.0
Reduction of
proceeds 217'790.0 237'692.0 242'829.0 232'310.0 199'553.0
Net sales 1'198'226.0 1'310'248.0 1'363'965.0 1'393'690.0 1'323'647.0
Other operating
revenue 4'577.0 4'536.0 2'686.0 2'234.0 29'451.0
Operating revenue 1'202'803.0 1'314'784.0 1'366'651.0 1'395'924.0 1'353'098.0
Cost of goods sold 397'628.0 508'232.0 473'191.0 477'074.0 505'227.0
Gross profit 805'175.0 806'552.0 893'460.0 918'850.0 847'871.0
Other operating
expenses 767'539.0 802'468.0 845'905.0 824'094.0 836'122.0
Operating result 37'636.0 4'084.0 47'555.0 94'756.0 11'749.0
Interest revenues 723.0 333.0 921.0 883.0 816.0
other financial
revenues 73.0 501.0 417.0 7.0 8.0
Financial income 796.0 834.0 1'338.0 890.0 824.0
Interest expenses 5'206.0 7'351.0 10'526.0 12'089.0 11'140.0
other financial
expenses 4'235.0 475.0 5'304.0 3'244.0 890.0
Financial expenses 9'441.0 7'826.0 15'830.0 15'333.0 12'030.0
Financial result -8'645.0 -6'992.0 -14'492.0 -14'443.0 -11'206.0
Result before
extraordinary items 28'991.0 -2'908.0 33'063.0 80'313.0 543.0
Extraordinary
income 0.0 0.0 0.0
Extraordinary
expenses 0.0 0.0 0.0
Extraordinary
Result 0.0 0.0 0.0 0.0 0.0
Result before
taxes 28'991.0 -2'908.0 33'063.0 80'313.0 543.0
Taxes 11'220.0 10'835.0 20'717.0 19'339.0 20'223.0
Result before
minority interests 17'771.0 -13'743.0 12'346.0 60'974.0 -19'680.0
minority interests 0.0 0.0 0.0 0.0 0.0
Result for the
financial year 17'771.0 -13'743.0 12'346.0 60'974.0 -19'680.0
Cash flow
Depreciation 71'897.0 63'860.0 64'702.0 61'368.0 131'375.0
Cash flow 89'668.0 50'117.0 77'048.0 122'342.0 111'695.0
Cash flow from
operating activities 88'078.0 187'688.0 103'454.0 111'499.0 73'496.0
Investments in
tangible fixed assets 3'834.0 44'627.0 72'259.0 70'934.0 71'102.0
Cash flow from
investing activities -45'823.0 -45'540.0 -79'186.0 -74'057.0 -72'305.0
Cash flow from
financing activities -35'571.0 -62'068.0 96.0 -52'270.0 -15'871.0
Others -4'804.0 -378.0 -3'545.0 943.0 -3'985.0
Change in
liquidity 1'880.0 79'702.0 20'819.0 -13'885.0 -18'665.0
Liquidity at
beginning of the year 127'649.0 47'947.0 27'128.0 41'013.0 59'678.0
Liquidity at end
ot the year 129'529.0 127'649.0 47'947.0 27'128.0 41'013.0
Notes
Material costs 397'628.0 508'232.0 473'191.0 477'074.0 505'227.0
Cost of employees 291'980.0 309'169.0 320'785.0 317'919.0 299'553.0
Added value 398'074.0 377'472.0 429'076.0 471'689.0 442'611.0
Working Capital 124'001.0 139'188.0 257'298.0 231'425.0 225'756.0
Sales per Employee 163.1 169.5 172.9 178.4 179.6
Market
capitalisation 472'560.0 325'600.0 242'000.0 817'000.0 854'000.0
Gross cost land
and buildings 255'069.0 264'867.0 274'357.0 280'189.0 278'009.0
Gross cost other
tangible fixed assets 495'770.0 558'642.0 537'888.0 563'688.0 514'116.0
Gross cost total 750'839.0 823'509.0 812'245.0 843'877.0 792'125.0
Insurance value
total 689'000.0 775'400.0 747'900.0 776'000.0
Employees at year end 7'345 7'729 7'888 7'811 7'370
Full time units
average 4'861 5'036 5'071 4'984 4'863
Employees inland 2'293 1'790 1'932 2'093 2'073
Employees abroad 5'052 5'939 5'956 5'718 5'297
Offices 826 857 851 825 809
Offices inland 168 169 165 163 161
Offices abroad 658 688 686 662 648
Ultimate Parent Company
Name: Charles
Vögele Holding AG
City/Country: Pfäffikon SZ, Switzerland/CH
Owner/-s
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Name: Charles Vögele Holding
AG
City/Country: Pfäffikon SZ, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest
Sisters
Name: Charles Voegele Ceska
sro
City/Country: Prag, Czech/CZ
Name: Charles Voegele Polska
spzoo
City/Country: Warschau, Poland/PL
Name: Charles Vögele
(Austria) GmbH
City/Country: Kalsdorf, Austria/AT
Name: Charles Vögele
(Belgium) N.V.
City/Country: Turnhout, Belgium/BE
Name: Charles Vögele
Deutschland GmbH
City/Country: Sigmaringen, Germany/DE
Name: Charles Vögele Fashion
(HK) Limited
City/Country: Tsim Sha Tsui East, Hong
Kong/HK
Name: Charles Vögele
Hungària Kereskedelmi Kft
City/Country: Budapest, Hungary/HU
Name: Charles Vögele Import
GmbH
City/Country: Lehrte, Germany/DE
Name: Charles Vögele Mode AG
City/Country: Pfäffikon SZ, Switzerland/CH
Name: Charles Vögele
(Netherlands) BV
City/Country: Utrecht, Netherlands/NL
Name: Charles Vögele Store
Management AG
City/Country: Pfäffikon SZ, Switzerland/CH
Name: Charles Vögele
trgovina s tekstilom doo
City/Country: Lubljana, Slovenia/SI
Name: Cosmos Mode AG,
Pfäffikon
City/Country: Pfäffikon SZ, Switzerland/CH
Name: MacFash GmbH
City/Country: Pfäffikon SZ, Switzerland/CH
Investments
It is believed that the company has no investments.
Legal Actions
Control date Year No. Amount CHF Status
29.08.2011 2011 0
29.08.2011 2010 0
29.08.2011 2009 0
29.08.2011 2008 0
29.08.2011 2007 0
29.08.2011 2006 0
29.07.2009 2005 0
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 in order.
Payment
experiences: Payment habits are
considered good.
Maximum
Credit: CHF 2'000'000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.02 |
|
UK Pound |
1 |
Rs.77.13 |
|
Euro |
1 |
Rs.67.56 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.