|
Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BOSSARD AG |
|
|
|
|
Registered Office : |
Steinhauserstrasse 70, Postfach, 6301
Zug/ZG |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1831 |
|
|
|
|
Com. Reg. No.: |
170.3.005.204-5 / 23696 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Engaged trading consumer goods of the connection, manufacturing, testing- and assembly technology. Subject product range includes bolts, nuts, rivets, washers & connecting elements. |
|
|
|
|
No. of Employees : |
300 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
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Litigation : |
--- |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
switzerland ECONOMIC OVERVIEW
Switzerland is
a peaceful, 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 enhance their international
competitiveness, but some trade protectionism remains, 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 all Swiss
exports. The global financial crisis of 2008 and resulting economic downturn in
2009 stalled export demand and put Switzerland in a recession. The Swiss
National Bank (SNB) during this period effectively implemented a zero-interest
rate policy to boost the economy as well as prevent appreciation of the franc,
and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign
debt crises currently unfolding in neighboring euro-zone countries pose a
significant risk to Switzerland's financial stability and are driving up demand
for the Swiss franc by investors seeking a safe-haven currency. 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 to 1.9% in 2011 and 0.8% in 2012. Switzerland has also come under
increasing pressure from individual neighboring countries, the EU, the US, and
international institutions to reform its banking secrecy laws. Consequently,
the government agreed to conform to OECD regulations on administrative
assistance in tax matters, including tax evasion. The government has
renegotiated its double taxation agreements with numerous countries, including
the US, to incorporate the OECD standard, and is considering the possibility of
imposing taxes on bank deposits held by foreigners. These steps will have a
lasting impact on Switzerland's long history of bank secrecy.
Source : CIA
Bossard AG
Steinhauserstrasse 70
Postfach
6301 Zug/ZG
Switzerland/CH
Telephone: 041
7496611
Fax: 041
7496622
Web
site: http://www.bossard.com
E-mail: bossard@bossard.com
VAT-No.: CHE101058161
Established: 1831
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4672 Wholesale of metals and metal ores
Import/Export: Export
Quality
certification: ISO 9001 2008
ISO 14001
2004
Banks: UBS AG, Baarerstrasse 14a,
6301 Zug, Swift: UBSWCHZH63A
CREDIT
SUISSE (4), Bahnhofstrasse 17, 6301 Zug, Swift: CRESCHZZ63A
Coverage: Company
Figures: estimated
Employees: 300
Sales: CHF 100-200 Mio
Engaged trading consumer goods of the connection, manufacturing, testing- and assembly technology.
Subject product range includes bolts, nuts, rivets, washers
& connecting elements.
Information on property ownership was not available.
Company No: 170.3.005.204-5
/ 23696
Legal form: Company
limited by shares
Registration: 26.03.1973
Legal status: active
Responsible Register: Handelsregister des Kantons Zug
History: Date
of Statutes: 08.06.1983
Date
of Statutes: 09.09.1996
Entry Deleted Name
active Bossard
AG
active Bossard
Ltd (Name translated)
active Bossard
SA (Name translated)
Entry Deleted Legal domicile
active Zug,
Switzerland
Entry Deleted Address
13.04.2004 Steinhauserstrasse
70, 6301 Zug, Switzerland/CH
13.04.2004 Steinhauserstrasse 70, 6300 Zug/ZG,
Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 12,000,000, paidup CHF 12,000,000
Entry Deleted Capital Structure
11.09.1996 120,000
Registered shares with restricted transferability of CHF 100.--
Entry Deleted Activity (original Language)
active Handel
und insbesondere technischer Grosshandel mit Bedarfsgütern der Verbindungs-,
Fertigungs-, Mess- und Montagetechnik, Erbringung von Engineeringleistungen zur
Vermittlung und Entwicklung von Systemen und Methoden für die Optimierung der
An- und Verwendung dieser technischen Güter; kann sich an anderen
Gesellschaften beteiligen und Immobilien erwerben. .
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Merger: Fusion mit der Firma "Bossard
Do-it-Yourself AG", in Zug nach Massgabe von Art. 748 OR.
08.11.2006 Merger:
Uebernahme der Aktiven und Passiven der "Bossard International AG",
in Zug (CH-170.3.010.629-0), gemäss Fusionsvertrag vom 27.10.2006 und Bilanz
per 31.05.2006. Aktiven von CHF 229'938'843.00 und Fremdkapital von CHF
193'144'969.00 gehen auf die übernehmende Gesellschaft über. Da dieselbe
Aktionärin sämtliche Aktien der an der Fusion beteiligten Gesellschaften hält,
findet weder eine Kapitalerhörhung noch eine Aktienzuteilung statt.
15.02.2000 Merger:
Uebernahme der Aktiven von CHF 1'258'395.00 und der Passiven von CHF
1'220'995.00 der "Bossard Technologie AG", in Zug, gemäss Bilanz per
31.12.1999 und Fusionsvertrag vom 04.02.2000 nach Massgabe von Art. 748 OR. Da
die übernehmende Gesellschaft Eigentümerin sämtlicher Aktien der übernommenen
Gesellschaft ist, findet keine Kapitalerhöhung statt.
Title Name
President David Dean,
Origin: Volketswil, Switzerland, Residential address: Meilen, Switzerland,
joint signature of two
Director Stephan
Zehnder, Origin: Zug, Switzerland, Residential address: 63123 Steinhausen/ZG,
Switzerland, joint signature of two, Registered since: 02.02.1999
Title Name
Director Daniel
Bossard, Origin: Zug, Switzerland, Residential address: Allenwinden, Switzerland,
joint signature of two, Registered since: 14.06.2007
Director Beat Grob,
Origin: Cham, Switzerland, Residential address: 6330 Cham/ZG, Switzerland,
joint signature of two, Registered since: 20.01.1997
Director Stephan
Zehnder, Origin: Zug, Switzerland, Residential address: 63123 Steinhausen/ZG,
Switzerland, joint signature of two, Registered since: 02.02.1999
Vice-Director Alexander Angst,
Origin: Horgen, Switzerland, Residential address: 6300 Zug/ZG, Switzerland,
joint signature of two, Registered since: 04.06.2009
Vice-Director Andreas
Bertaggia, Origin: Zug, Switzerland, Residential address: Steinhausen,
Switzerland, joint signature of two, Registered since: 07.04.2006
Vice-Director Albert Britschgi,
Origin: Sarnen, Switzerland, Residential address: 6340 Baar/ZG, Switzerland,
joint signature of two, Registered since: 20.02.2002
Vice-Director Markus A.
Burkard, Origin: Sursee, Switzerland, Residential address: Eich, Switzerland,
joint signature of two
Vice-Director Manuel Caccetta,
Origin: Luzern, Switzerland, Residential address: Root, Switzerland, joint
signature of two, Registered since: 09.07.2008
Vice-Director Gebhard Elsener,
Origin: Menzingen, Switzerland, Residential address: Hünenberg, Switzerland,
joint signature of two
Vice-Director Urs Güttinger,
Origin: Opfikon, Switzerland, Residential address: Steinhausen, Switzerland,
joint signature of two, Registered since: 08.02.2000
Vice-Director Erica Jakober,
Origin: Glarus, Schänis, Switzerland, Residential address: Hünenberg,
Switzerland, joint signature of two, Registered since: 29.06.1995
Vice-Director Jacqueline
Kaufmann, Origin: Winikon, Switzerland, Residential address: 8912 Obfelden/ZH,
Switzerland, joint signature of two, Registered since: 01.02.2006
Vice-Director Stefan Müller,
Origin: Seuzach, Switzerland, Residential address: Geroldswil, Switzerland,
joint signature of two, Registered since: 09.07.2008
Vice-Director Tee Bin Ong,
Origin: Malaysia, Residential address: 6300 Zug/ZG, Switzerland, joint
signature of two, Registered since: 22.01.2009
Vice-Director Guido Pfister,
Origin: Dagmersellen, Switzerland, Residential address: 6204 Sempach Stadt/LU,
Switzerland, joint signature of two, Registered since: 09.07.2008
Vice-Director Martin Rüedy,
Origin: Gächlingen, Switzerland, Residential address: Steinhausen, Switzerland,
joint signature of two, Registered since: 27.01.2003
Vice-Director Daniel Stutz,
Origin: Arni AG, Islisberg, Switzerland, Residential address: 6344
Meierskappel/LU, Switzerland, joint signature of two, Registered since:
27.01.2003
Vice-Director Roland von Arb,
Origin: Neuendorf, Switzerland, Residential address: Cham, Switzerland, joint
signature of two
Member
with procuration Christoph
Brun, Origin: Reiden, Dagmersellen,
Switzerland, Residential address: Luzern, Switzerland, joint power of attorney
of two, Registered since: 01.02.2006
Member
with procuration Davide Di
Marzo, Origin: Italy, Residential address: 6000 Luzern/LU, Switzerland, joint
power of attorney of two, Registered since: 04.06.2009
Member
with procuration Richard
Döngi, Origin: Engelberg, Switzerland, Residential address: 6343 Rotkreuz/ZG,
Switzerland, joint power of attorney of two, Registered since: 14.06.2010
Member
with procuration Bernardo
Egli, Origin: Affoltern am Albis, Switzerland, Residential address: Walchwil,
Switzerland, joint power of attorney of two, Registered since: 29.05.2013
Member
with procuration Jürgen
Eixler, Origin: Winterthur, Hünenberg, Switzerland, Residential address: Hünenberg,
Switzerland, joint power of attorney of two, Registered since: 16.05.2012
Member
with procuration Renato
Guccione, Origin: Italy, Residential address: 5406 Rütihof/AG, Switzerland,
joint power of attorney of two, Registered since: 14.06.2010
Member
with procuration Kurt
Hürlimann, Origin: Dürnten, Switzerland, Residential address: Unterägeri,
Switzerland, joint power of attorney of two, Registered since: 24.05.2011
Member
with procuration Alexander
Kaiser, Origin: Ennetmoos, Switzerland, Residential address: Büren/NW,
Switzerland, joint power of attorney of two, Registered since: 21.11.2011
Member
with procuration Remo Mibus,
Origin: Zürich, Switzerland, Residential address: 6284 Gelfingen/LU,
Switzerland, joint power of attorney of two, Registered since: 14.06.2010
Member
with procuration Jeremias
Näf, Origin: Menznau, Switzerland, Residential address: Unterägeri,
Switzerland, joint power of attorney of two, Registered since: 24.05.2011
Member
with procuration Guido
Osterwalder, Origin: Emmen, Waldkirch, Switzerland, Residential address:
Emmenbrücke, Switzerland, joint power of attorney of two, Registered since:
29.06.1995
Member
with procuration Susan Piske,
Origin: Germany, Residential address: Dürrenäsch, Switzerland, joint power of
attorney of two, Registered since: 24.05.2011
Member
with procuration Claudia
Rechsteiner, Origin: Appenzell, Switzerland, Residential address: Hünenberg,
Switzerland, joint power of attorney of two, Registered since: 24.05.2011
Member
with procuration Patrick
Tschan, Origin: Basel, Switzerland, Residential address: Steinhausen,
Switzerland, joint power of attorney of two, Registered since: 05.02.2013
Member
with procuration Franz
Weingand, Origin: Sins, Switzerland, Residential address: Steinhausen,
Switzerland, joint power of attorney of two, Registered since: 24.05.2011
Member
with procuration Herbert
Wildi, Origin: Schafisheim, Switzerland, Residential address: Unterägeri,
Switzerland, joint power of attorney of two
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland, Id: CH-020.3.020.876-5,
Registered since: 25.09.2000
Title Name
Chief
Sales Officer Roland
von Arb (rvonarb@bossard.com)
Chief
Human Resources Officer Erica Jakober
(ejakober@bossard.com)
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: Local GAAP Local GAAP Local
GAAP Local GAAP IAS
Balance Sheet
Intangible fixed
assets 3,277.0 2,813.0 3,429.0 3,938.0 44,857.0
Land and buildings 54,475.0 36,376.0 37,773.0 41,874.0 44,181.0
Other tangible
fixed assets 31,726.0 28,520.0 17,220.0 18,906.0 23,294.0
Tangible fixed
assets 86,201.0 64,896.0 54,993.0 60,780.0 67,475.0
Financial fixed
assets 1,247.0 1,611.0 1,548.0 2,173.0 6,596.0
other fixed assets 5,004.0 2,472.0 2,120.0 3,101.0
Fixed assets 95,729.0 71,792.0 62,090.0 69,992.0 118,928.0
Stocks 155,583.0 153,585.0 126,018.0 117,692.0 169,270.0
Trade accounts
receivable 85,299.0 79,962.0 74,268.0 63,087.0 78,987.0
Liquid assets 25,629.0 15,647.0 18,980.0 22,439.0 11,413.0
Securities 0.0 126.0 937.0
other trade
accounts 5,773.0 2,080.0 2,024.0 920.0 1,152.0
Accruals 8,290.0 7,965.0 9,363.0 10,251.0 9,475.0
Other current
assets 39,692.0 25,692.0 30,367.0 33,736.0 22,977.0
Current assets 280,574.0 259,239.0 230,653.0 214,515.0 271,234.0
Total assets 376,303.0 331,031.0 292,743.0 284,507.0 390,162.0
Capital 32,000.0 32,000.0 32,000.0 32,000.0 32,000.0
Other shareholders
funds 14,681.0 170,691.0 143,751.0 126,719.0 162,987.0
Total shareholders
equity 46,681.0 202,691.0 175,751.0 158,719.0 194,987.0
Minority interests 3,427.0 3,549.0 3,603.0 3,296.0 2,971.0
long term debt
(financial debts) 110,000.0 0.0 0.0 40,000.0 41,045.0
Provisions 6,870.0 1,251.0 1,518.0 1,664.0 1,686.0
Other non current
liabilities 3,713.0 2,438.0 2,495.0 5,842.0 10,267.0
Non current
liabilities 120,583.0 3,689.0 4,013.0 47,506.0 52,998.0
short term debt
(financial debts) 117,814.0 45,254.0 44,727.0 21,079.0 69,755.0
Trade accounts
payable 38,657.0 30,984.0 27,727.0 25,183.0 33,920.0
Provisions 979.0 1,254.0 846.0 567.0 1,064.0
Accruals 23,853.0 24,481.0 24,154.0 20,531.0 23,851.0
other accounts
payable 24,309.0 19,129.0 11,922.0 7,626.0 10,616.0
other current
liabilities 49,141.0 44,864.0 36,922.0 28,724.0 35,531.0
Current
liabilities 205,612.0 121,102.0 109,376.0 74,986.0 139,206.0
Shareh. equity,
min. interests + liabilities 376,303.0 331,031.0 292,743.0 284,507.0 390,162.0
Profit and loss account
Sales 487,094.0 473,484.0 477,609.0 395,109.0 565,701.0
Reduction of
proceeds 15,921.0 15,767.0 18,885.0 15,248.0 22,858.0
Net sales 471,173.0 457,717.0 458,724.0 379,861.0 542,843.0
Other operating
revenue 3,279.0 0.0 0.0 0.0 0.0
Operating revenue 474,452.0 457,717.0 458,724.0 379,861.0 542,843.0
Cost of goods sold 283,695.0 272,165.0 270,307.0 233,514.0 340,082.0
Gross profit 190,757.0 185,552.0 188,417.0 146,347.0 202,761.0
Other operating
expenses 139,847.0 135,292.0 141,151.0 127,534.0 157,640.0
Operating result 50,910.0 50,260.0 47,266.0 18,813.0 45,121.0
Interest revenues 338.0 400.0 533.0 221.0 1,890.0
other financial
revenues 1,279.0 953.0 6,667.0 2,513.0 1,312.0
Financial income 1,617.0 1,353.0 7,200.0 2,734.0 3,202.0
Interest expenses 2,258.0 1,920.0 2,392.0 2,820.0 7,091.0
other financial
expenses 1,165.0 1,518.0 6,686.0 2,086.0 4,810.0
Financial expenses 3,423.0 3,438.0 9,078.0 4,906.0 11,901.0
Financial result -1,806.0 -2,085.0 -1,878.0 -2,172.0 -8,699.0
Result before
extraordinary items 49,104.0 48,175.0 45,388.0 16,641.0 36,422.0
Extraordinary
Result 0.0 0.0 0.0 0.0 0.0
Result before
taxes 49,104.0 48,175.0 45,388.0 16,641.0 36,422.0
Taxes 6,197.0 3,362.0 460.0 1,343.0 4,040.0
Result before
minority interests 42,907.0 44,813.0 44,928.0 15,298.0 32,382.0
minority interests 41.0 553.0 664.0 160.0 245.0
Result for the
financial year 42,866.0 44,260.0 44,264.0 15,138.0 32,137.0
Cash flow
Depreciation 10,447.0 9,836.0 8,898.0 9,657.0 11,856.0
Cash flow 53,354.0 54,649.0 53,826.0 24,955.0 44,238.0
Cash flow from
operating activities 56,319.0 25,942.0 28,366.0 73,506.0 34,437.0
Investments in
tangible fixed assets 21,482.0 12,231.0 7,122.0 3,911.0 10,319.0
Cash flow from
investing activities -210,807.0 -12,810.0 -5,898.0 -3,463.0 -11,518.0
Cash flow from
financing activities 164,647.0 -16,626.0 -24,209.0 -59,502.0 -20,660.0
Others -177.0 161.0 -1,718.0 -325.0 -942.0
Change in
liquidity 9,982.0 -3,333.0 -3,459.0 10,216.0 1,317.0
Liquidity at
beginning of the year 15,647.0 18,980.0 22,439.0 12,223.0 10,906.0
Liquidity at end
ot the year 25,629.0 15,647.0 18,980.0 22,439.0 12,223.0
Notes
Material costs 283,695.0 272,165.0 270,307.0 233,514.0 340,082.0
Cost of employees 99,627.0 96,986.0 99,393.0 86,012.0 107,076.0
Added value 161,436.0 156,917.0 156,071.0 115,130.0 162,445.0
Working Capital 202,225.0 202,563.0 172,559.0 155,596.0 214,337.0
Sales per Employee 303.8 306.6 329.3 270.7 301.6
Market
capitalisation 399,500.0 303,633.1 324,881.2 176,236.7 137,265.4
Gross cost land
and buildings 95,162.0 75,093.0 74,815.0 78,498.0 78,631.0
Gross cost other
tangible fixed assets 106,537.0 100,224.0 88,667.0 89,493.0 88,505.0
Gross cost total 201,699.0 175,317.0 163,482.0 167,991.0 167,136.0
Insurance value
total 179,400.0 161,400.0 151,300.0 162,000.0 165,900.0
Employees at year end 1,403 1,800
Full time units
average 1,551 1,493 1,393 1,355 1,666
Name: Bossard Holding AG
City/Country: Zug/ZG, Switzerland/CH
No.
of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Type: direct, Group-Level
1
Name: Bossard Holding AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Name: Bossard Finance AG
City/Country: Zug/ZG, Switzerland/CH
Class: 100%
Name: Bossard SK, spol. s
r.o. v likvidácii
City/Country: Dubnica nad Váhom, Slovakia/SK
Interest: 100,00% voting right,
100,00% capital interest (since 23.02.2007)
Control date Year No. Amount CHF Status
06.12.2013 2013 1 105,340.-- Opposition filed
06.12.2013 2012 0
06.12.2013 2011 0
06.12.2013 2010 0
06.12.2013 2009 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.
Remarks
Debt Collection Case:
JAN 2014: CHF 90.00.
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 good.
Payment
experiences: Financial obligations are
met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
UK Pound |
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.83.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.