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Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
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Name : |
KARL VÖGELE AG, UZNACH |
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Registered Office : |
Burgerfeldstrasse 15, 8730 Uznach/SG |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1922 |
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Com. Reg. No.: |
320.3.000.005-1 / 203019 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Retail sale of footwear and leather goods
in specialised stores |
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No. of Employees : |
1,000-1,999 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 began to recover in 2010. 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 below 2% per year during 2011-13. 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 |
KARL VÖGELE AG,
UZNACH
Operating
address:
Burgerfeldstrasse
15
8730 Uznach/SG
Switzerland/CH
Telephone: 055
2856111
Fax: 055
2801065
Web
site: http://www.voegele-shoes.com
E-mail: contact@voegele.com
VAT-No.: CHE105811176
Established: 1922
History: 1961: Limited company
1922: Established from Karl Vögele
Line
of Business: Retail stores
Industry
Division: Retail trade
Industry-code (NACE): 4772 Retail sale of footwear and leather goods
in specialised stores
Import/Export: Import
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 1,000-1,999
Sales: CHF 100-200 Mio
The Company operates several shops for shoes
and accessory in Switzerland. The product range covers fashionable and
functional shoes for ladies, Mans, Boys and Girls and Infants.
Real
Estate: The company owns
buildings.
Company
No: 320.3.000.005-1 / 203019
Legal
form: Company limited by
shares
Registration: 12.01.1961
Legal
status: active
Responsible
Register: Handelsregister des Kantons St.
Gallen
History: Date of Statutes:
29.12.1970
Date of
Incorporation Statutes: 12.01.1961
Date of
Statutes: 20.06.1997
Entry Deleted Name
26.06.1997 Karl
Vögele AG, Uznach
26.06.1997 Karl Vögele AG. Uznach
Entry Deleted Legal domicile
active Uznach,
Switzerland
Entry Deleted Address
active Burgerfeldstrasse,
8730 Uznach/SG, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 2,000,000, paidup CHF 2,000,000
Entry Deleted Capital Structure
active 2,000
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
26.06.1997 Handel
mit und Fabrikation von Bekleidungsartikeln, insbesondere Schuhen, Konfektion
und anderen Waren; die Gesellschaft kann Zweigniederlassungen und
Tochtergesellschaften im In- und Ausland errichten sowie sich an anderen
Unternehmungen im In- und Ausland beteiligen.
26.06.1997 Handel mit und Fabrikation von
Bekleidungsartikeln, insbesondere mit bzw. von Schuhen, und Konfektion. Die Gesellschaft
kann sich an Unternehmen gleicher oder ähnlicher Art beteiligen.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
26.06.1997 Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
26.06.1997 Reports:
Die Mitteilungen an die Aktionäre erfolgen durch Brief an die im Aktienbuch
verzeichneten Adressen.
Title Name
President Max Manuel
Vögele, Origin: Untereggen, Switzerland, Residential address: Uznach, Switzerland,
single signature, Registered since: 28.02.1992
Director Christoph
Niklaus Clavadetscher, Origin: Lenzburg, Switzerland, Residential address:
Wollerau, Switzerland, joint signature of two, Registered since: 05.09.2012
Director Alexander
Vögele, Origin: Untereggen, Switzerland, Residential address: Freienbach,
Switzerland, joint signature of two, Registered since: 05.09.2012
Title Name
Member
of the management Max Bertschinger,
Origin: Fischenthal, Switzerland, Residential address: 8173 Riedt bei Neerach
/ZH, Switzerland, joint signature of two, Registered since: 05.02.2001
Member
of the management Bruno Graf,
Origin: Bleienbach, Switzerland, Residential address: 8730 Uznach/SG,
Switzerland, joint signature of two, Registered since: 05.02.2001
Member
of the management Martin Stadler,
Origin: Altdorf UR, Switzerland, Residential address: 8730 Uznach/SG,
Switzerland, joint signature of two, Registered since: 10.02.1998
Member
with procuration Franz
Bonelli, Origin: Weisslingen, Switzerland, Residential address: Uetliburg bei
Gommiswald, Switzerland, joint power of attorney of two
Member
with procuration Claudio
Bressan, Origin: Zürich, Switzerland, Residential address: 8340 Hinwil/ZH,
Switzerland, joint power of attorney of two, Registered since: 27.09.2007
Member
with procuration Markus
Geisser, Origin: Altstätten, Mörschwil, Switzerland, Residential address:
Thalwil, Switzerland, joint power of attorney of two, Registered since:
05.02.2001
Member
with procuration Thomas
Gubser, Origin: Quarten, Switzerland, Residential address: 8884 Oberterzen/SG,
Switzerland, joint power of attorney of two, Registered since: 27.09.2007
Member
with procuration Rolf Hinder,
Origin: Rieden, Switzerland, Residential address: Rieden/ag, Switzerland, joint
power of attorney of two
Member
with procuration Josef Knobel,
Origin: Altendorf, Switzerland, Residential address: Uznach, Switzerland, joint
power of attorney of two
Member
with procuration Kurt Künzle,
Origin: Gossau SG, Switzerland, Residential address: Uznach, Switzerland, joint
power of attorney of two
Member
with procuration Erich Menzi,
Origin: Filzbach, Switzerland, Residential address: Uznach, Switzerland, joint
power of attorney of two
Member
with procuration Albert
Oberholzer, Origin: Eschenbach SG, Switzerland, Residential address: Uznach,
Switzerland, joint power of attorney of two
Member
with procuration Markus
Sennhauser, Origin: Kirchberg SG, Switzerland, Residential address: Walde
(Eschenbach (SG)/SG, Switzerland, joint power of attorney of two, Registered
since: 05.02.2004
Member
with procuration Roger
Thomann, Origin: Pfäfers, Switzerland, Residential address: 1713 St. Antoni/FR,
Switzerland, joint power of attorney of two, Registered since: 27.09.2007
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: St. Gallen, Switzerland, Registered since: 05.02.2001
Title Name
Chief
Executive Officer Max Manuel
Vögele (maxmanuel.voegele@voegele.com)
Chief
Financial Officer Max
Bertschinger (max.bertschinger@voegele.com)
Chief
Information Officer Bruno Graf
(bruno.graf@voegele.com)
Chief
Business Segment Officer Martin Stadler
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
Remarks: about about about about
Operating revenue 280,000.0 280,000.0 295,000.0 320,000.0 395,000.0
Capital 250.0 250.0 250.0 250.0 250.0
Sales per Employee 112.0 112.0 128.0 145.0 161.0
Employees at year
end 2,500 2,500 2,300 2,200 2,450
Employees inland 1,900
Employees abroad 550
Name: KAVO-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: KAVO-Holding AG
City/Country: Zug/ZG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Name: EKZ Zurzach AG
City/Country: Zurzach/AG, Switzerland/CH
Name: KAVO-Immobilien AG
City/Country: Zug/ZG, Switzerland/CH
Name: SI Mottet SA
City/Country: Neuchâtel/NE, Switzerland/CH
Class: 100%
Name: Vögele Shoes GmbH
City/Country: Wolfurt, Austria/AT
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
10.04.2014 2014 0
10.04.2014 2013 0
10.04.2014 2012 0
10.04.2014 2011 0
10.04.2014 2010 0
08.10.2013 2009 0
26.08.2013 2008 0
24.01.2012 2007 0
14.04.2009 2006 0
14.04.2009 2005 1 150,797.-- Opposition filed
01.10.2003 2003 0
01.10.2003 2002 0
01.10.2003 2001 0
01.10.2003 2000 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
is good.
Payment
experiences: Payments are made with
arranged conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
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Report Prepared
by : |
NNA |
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 |
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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 |
|
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.