|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
VF
INTERNATIONAL SAGL |
|
|
|
|
Registered Office : |
Via Senago 42/e 6912 Pazzallo |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
11.05.2004 |
|
|
|
|
Com. Reg. No.: |
514.4.028.163-8
/ 746478 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
Providing
Services of Consulting/Auditing |
|
|
|
|
No. of Employees : |
80 |
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 500'000 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Exists |
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 30, 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 |
VF International Sagl
Operating address:
Via Senago 42/e Vans
Division Switzerland
6912 Pazzallo Römerstrasse
7
Switzerland/CH 2555
Brügg
Switzerland/CH
Telephone: 091
9609200 032
3747580
Fax: 091
9609300 032
3747581
Web site: http://www.vfc.com
E-mail: corporate_communications@vfc.com
VAT-No.: CHE111650898
Established: 2004
Line of Business: Consulting/Auditing
Industry Division: Services
Industry-code (NACE): 6910 Legal activities
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 80
Sales: CHF
20-40 Mio
The business
activities are provision of services for the group, in particular the
administration of licenses and patents. In addition it operates the Vans
Division Switzerland for the trade in shoes and accessories. The company has
the rights to the following brands: NAPAPIJRI, KIPLING and HACKER.
Real Estate: The
company owns no property.
Company No: 514.4.028.163-8
/ 746478
Legal form: Limited
Liability Company
Registration: 11.05.2004
Legal status: active
Responsible Register: Registro di commercio del Cantone Ticino
Auditor: PricewaterhouseCoopers
SA (CH-514.9.014.248-1), Lugano
History: Date
of Statutes: 20.09.2010
Date
of Statutes: 25.05.2007
Date
of Statutes: 18.05.2004
Date
of Incorporation Statutes: 06.05.2004
Entry Deleted Name
11.05.2004 VF
International Sagl
Entry Deleted Legal domicile
11.05.2004 Lugano,
Switzerland
Entry Deleted Address
23.05.2005 Via
Senago 42/e, Centro Open Space 01, Stabile C, 6912 Pazzallo/TI, Switzerland/CH
11.05.2004 23.05.2005 Riva Albertolli 1, 6900 Lugano/TI,
Switzerland/CH
Entry Deleted Capital
26.07.2007 LLC
Capital CHF 1'901'000
19.05.2004 26.07.2007 LLC Capital CHF 1'900'000
11.05.2004 19.05.2004 LLC Capital CHF 100'000
Entry Deleted Capital Structure
21.09.2010 1
Participation shares of CHF 1'900'000.--
21.09.2010 1
Participation shares of CHF 1'000.--
Entry Deleted Activity (original Language)
11.05.2004 L'acquisizione,
la detenzione, la gestione e la vendita di marchi d'impresa, licenze, diritti
di proprietà, brevetti, modelli, processi o formule segreti o di qualsiasi
altro diritto immateriale. L'acquisto, la vendita, la commercializzazione di
ogni genere di bene di consumo. Prestare consulenza e rendere servizi
principalmente ad altre imprese facenti parte del Gruppo VF, ivi comprendendovi
la concessione di finanziamenti o di anticipi di qualsiasi tipo ad imprese
associate. La società potrà svolgere qualsiasi attività correlata con il suo
oggetto sociale.
Entry Deleted Remarks (original Language)
02.08.2007 Merger:
Ripresa di attivi e passivi di VF Retail (Suisse) Sàrl, in Mendrisio
(CH-524.4.009.365-6), secondo il contratto di fusione del 28.05.2007 e bilancio
al 31.12.2006, che presenta attivi per CHF 478'602.-- e passivi verso terzi per
CHF 395'308.--. La società assuntrice detiene l'unica quota della società
trasferente, per cui la fusione avviene senza aumento di capitale e senza
attribuzione di quote sociali.
26.07.2007 Contribution
in kind/Asset takeover: Apporto di una quota sociale di CHF 20'000.-- della VF
Retail (Suisse) Sàrl, in Lugano, per il valore di CHF 83'294.--, accettato
dalla società per tale importo di cui CHF 1'000.-- computati sul capitale
sociale. La rimanenza di CHF 82'294.-- quale aggio. Contratto: 25.05.2007.
31.01.2006 Merger:
Ripresa di attivi e passivi di Vans (Suisse) Sàrl, in Brügg
(CH-073.4.014.271-2), secondo il contratto di fusione del 27.01.2006 e bilancio
al 31.12.2005, che presenta attivi per CHF 471'070.04 e passivi verso terzi per
CHF 100'360.14. La società assuntrice detiene l'unica quota della società
trasferente, per cui la fusione avviene senza aumento di capitale e senza
attribuzione di azioni.
19.05.2004 Contribution
in kind/Asset takeover: Intenzione di assunzione beni: la società intende
riprendere parte degli attivi e passivi dalla "VF Europe BVBA"
Sint-Niklaas (B) comprendenti dei diritti di proprietà intellettuale, per il
prezzo massimo di CHF 200'000'000.--.
11.05.2004 Publishing
authority: FUSC.
Entry Deleted Branches
20.04.2006 Römerstrasse
7, 2555 Brügg bei Biel/BE, Switzerland/CH
Title Name
General Manager Scott
Alan Roe, Origin: United States of America, Address: 6924 Sorengo/TI,
Switzerland, single signature, Registered since: 23.01.2007
Chairman of the management Karlheinz Salzburger, Origin: Italy,
Address: 6942 Savosa/TI, Switzerland, single signature, Registered since:
08.08.2005
Title Name
Chief Executive Officer Karlheinz Salzburger
Chief Marketing Officer Karin Mühlemann (karin_muehlemann@vfc.com)
Chief Sales Officer Micha Bucher (micha_bucher@vfc.com)
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2010 31.12.2009
Number of months: 12 12
Currency: th.
USD th. USD
Balance Sheet
Intangible fixed assets 2'657'563.0 2'902'801.0
Tangible fixed assets 602'908.0 614'178.0
other fixed assets 371'025.0 324'322.0
Fixed assets 3'631'496.0 3'841'301.0
Stocks 1'070'694.0 958'639.0
Trade accounts receivable 773'083.0 776'140.0
Liquid assets 792'239.0 731'549.0
other trade accounts 190'044.0 166'234.0
Other current assets 982'283.0 897'783.0
Current assets 2'826'060.0 2'632'562.0
Total assets 6'457'556.0 6'473'863.0
Capital 2'189'305.0 1'974'784.0
Other shareholders funds 1'671'914.0 1'840'367.0
Total shareholders equity 3'861'219.0 3'815'151.0
Minority interests 100.0 -1'866.0
long term debt (financial debts) 935'882.0 938'494.0
Other non current liabilities 550'880.0 626'295.0
Non current liabilities 1'486'762.0 1'564'789.0
short term debt (financial debts) 39'313.0 248'632.0
Trade accounts payable 510'998.0 373'186.0
Accruals 559'164.0 473'971.0
other current liabilities 559'164.0 473'971.0
Current liabilities 1'109'475.0 1'095'789.0
Shareh. equity, min. interests + liabilities 6'457'556.0 6'473'863.0
Profit and loss account
Net sales 7'624'599.0 7'143'074.0
Other operating revenue 77'990.0 78'740.0
Operating revenue 7'702'589.0 7'221'814.0
Cost of goods sold 4'105'201.0 4'025'122.0
Gross profit 3'597'388.0 3'196'692.0
Other operating expenses 2'776'528.0 2'458'347.0
Operating result 820'860.0 738'345.0
Interest revenues 2'336.0 2'230.0
other financial revenues 4'754.0 66'626.0
Financial income 7'090.0 68'856.0
Interest expenses 77'738.0 85'902.0
Financial expenses 77'738.0 85'902.0
Financial result -70'648.0 -17'046.0
Result before extraordinary items 750'212.0 721'299.0
Extraordinary Result 0.0 0.0
Result before taxes 750'212.0 721'299.0
Taxes 176'700.0 196'215.0
Result before minority interests 573'512.0 525'084.0
minority interests 2'150.0 -2'739.0
Result for the financial year 571'362.0 527'823.0
Cash flow
Depreciation 116'837.0 113'207.0
Cash flow 690'349.0 638'291.0
Cash flow from operating activities 1'001'282.0 973'485.0
Investments in tangible fixed assets 111'640.0 85'859.0
Cash flow from investing activities -180'480.0 -316'876.0
Cash flow from financing activities -742'832.0 -319'343.0
Others -17'280.0 12'439.0
Change in liquidity 60'690.0 349'705.0
Liquidity at beginning of the year 731'549.0 381'844.0
Liquidity at end ot the year 792'239.0 731'549.0
Notes
Added value 944'787.0 807'344.7
Working Capital 1'332'779.0 1'361'593.0
Sales per Employee 162.2 156.3
Gross cost land and buildings 654'690.0 626'592.0
Gross cost other tangible fixed assets 1'008'609.0 975'016.0
Gross cost total 1'663'299.0 1'601'608.0
Employees at
year end 47'000 45'700
Employees inland 20'300
Employees abroad 26'700
Name: V.F.
Corporation
City/Country: Greensboro,
United States of America/US
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: VF
Holding Sagl
City/Country: Pazzallo,
Switzerland/CH
Capital share: CHF
1'901'000.--
Interest: 100.00%
voting right, 100.00% capital interest (since 2004)
Name: The
North Face Sagl
City/Country: Stabio,
Switzerland/CH
Name: VF
Sales Sagl
City/Country: Pazzallo,
Switzerland/CH
It is believed that
the company has no investments.
Control date Year No. Amount CHF Status
03.11.2011 2011 0
03.11.2011 2010 0
03.11.2011 2009 1 578.-- Opposition filed
03.11.2011 2008 0
03.11.2011 2007 0
12.09.2008 2007 1 2'864.-- Closed legal actions
12.09.2008 2006 0
03.02.2005 2005 0
03.02.2005 2004 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.
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 appears to be good.
Payment experiences: Financial obligations are met as appropriate.
Maximum Credit: CHF
500'000.--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
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.