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Report No. : |
352747 |
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Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
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Name : |
OTTO'S AG |
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Registered Office : |
Wassermatte 3, 6210 Sursee/LU |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.09.1978 |
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Com. Reg. No.: |
100.3.008.746-0 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
·
The
business activities includes the operation of department stores. · Other retail sale in non-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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with ongoing economic instability in Russia and other eastern European economies continue to pose a significant risk to the Swiss economy, driving up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the Euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. 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 from 2011-14.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.
|
Source
: CIA |
OTTO'S AG
Operating address:
Wassermatte 3
6210 Sursee/LU
Switzerland/CH
Telephone: 041
9250505
Fax: 041
9250515
Web
site: http://www.ottos.ch
E-mail: info@ottos.ch
WIN
Worldbox No.: CH0000076917
VAT-No.: CHE-106.843.612
MWST
UID-No.: CHE106843612
Established: 1978
Line of Business: Consumer
markets/Department stores
Industry Division: Retail
trade
Industry-code (NACE): 4719 Other retail sale
in non-specialised stores
Import/Export: Import
Banks: UBS
Ltd
CS
Credit Suisse
Coverage: Company
Employees: 1,000-1,999
Sales: CHF
600-800 Mio
The business activities
includes the operation of department stores. The range covers over 50,000
articles from the fields of furniture, textiles, food, non food, perfume, etc.
The company has over 100 stores.
Real Estate: The
company owns buildings.
Company No: 100.3.008.746-0
UID-No.: CHE106843612
Legal form: Company
limited by shares
Registration: 11.09.1978
Legal status: active
Responsible Register: Handelsregister des Kantons Luzern
History: Date
of Statutes: 16.09.1999
Date
of Incorporation Statutes: 24.08.1978
Date of Statutes:
18.04.2008
Entry Deleted Name
active OTTO'S
AG
24.09.1999 Otto's Warenposten AG
07.08.2015 OTTO''S SA (Name translated)
Entry Deleted Legal domicile
active Sursee,
Switzerland
Entry Deleted Address
active Wassermatte
3, 6210 Sursee/LU, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 7,000,000, paidup CHF 7,000,000
Entry Deleted Capital Structure
active 7,000
Registered shares of CHF 1,000.--
Entry Deleted Branches
removed , Morges/VD, Switzerland/CH
Title Name
President Mark
Ineichen
Citizen:
Sursee, Switzerland
Residential
address: 6403 Küssnacht/SZ, Switzerland
joint
signature of two
Director Stefan
Hitz
Citizen:
Hütten, Switzerland
Residential
address: 3063 Ittigen/BE, Switzerland
Born:
23.11.1964
without
signature
Director Rolf
Ineichen
Citizen:
Sursee, Switzerland
Residential
address: 6403 Küssnacht /SZ, Switzerland
Born:
02.05.1978
joint
signature of two
Registered
since: 06.06.2008
Director Dr. Prof.
Thomas Rudolph
Citizen:
Germany
Residential
address: 9000 St. Gallen/SG, Switzerland
Born:
08.05.1962
without
signature
Registered
since: 20.04.2000
Director Hans
Rudolf Widmer
Citizen:
Sumiswald, Emmen, Switzerland
Residential
address: 6205 Eich/LU, Switzerland
Born:
23.07.1949
joint signature of two
Title Name
Member
of the management Markus Koch
Citizen:
Egolzwil, Switzerland
Residential
address: 6252 Dagmersellen/LU, Switzerland
Born:
19.10.1961
joint
signature of two
Registered
since: 25.03.2010
Member
of the management Willi Neuhaus
Citizen:
Lützelflüh, Switzerland
Residential
address: 3033 Wohlen bei Bern/BE, Switzerland
joint
signature of two
Registered
since: 25.03.2010
Member
with signing authority Hilde Ineichen
Citizen:
Sursee, Schenkon, Switzerland
Residential
address: 6210 Sursee/LU, Switzerland
joint signature of two
Title Name
Auditor BDO AG
Residential
address: Luzern, Switzerland
Id: CHE-384.263.558
Title Name
Chief Executive Officer Mark Ineichen
Chief Financial Officer Hans Rudolf Widmer
Chief Information Officer, Chief Logistics Officer Markus Koch
Chief Business Segment Officer Willi Neuhaus
Chief
Purchase Officer Rolf
Ineichen
Name: INMARO Holding AG
City/Country: Sursee/LU,
Switzerland/CH
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Name: OTTO'S Immobilien
Holding AG
City/Country: Sursee/LU,
Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Name: Egnot AG
City/Country: Sursee/LU,
Switzerland/CH
Name: OTTO'S
SPORT OUTLET AG
City/Country: Sursee/LU,
Switzerland/CH
Name: OTTO'S WARENPOSTEN AG
City/Country: Sursee/LU, Switzerland/CH
Name: QUALITO AG
City/Country: Sursee/LU, Switzerland/CH
Name: RADIKAL AG
City/Country: Sursee/LU,
Switzerland/CH
Name: Wolf Import AG
City/Country: Sursee/LU, Switzerland/CH
Consolidation: unconsolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2014 31.08.2013 31.08.2012 31.08.2011 31.08.2010
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th.
CHF th.
CHF
Operating revenue 637,000.0 622,300.0 601,000.0 601,000.0 601,000.0
Capital 7,000.0 7,000.0 7,000.0 7,000.0 7,000.0
Sales per Employee 401.0 403.0 395.0 398.0 403.0
Full time units at year end 1,590 1,545 1,520 1,510 1,490
Employees inland 1,590 1,545 1,520 1,510 1,490
Employees abroad 0 0 0 0 0
Offices 100 100 100 100 100
Offices inland 100 100 100 100 100
Offices abroad 0 0 0 0 0
It is believed that the
company has no investments.
Control date Year No. Amount CHF Status
16.06.2015 2015 0 Legal
actions
31.12.2014 2014 2 1,477.-- Opposition filed
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 1 217,814.-- Opposition filed
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 1 9,206.-- Opposition filed
31.12.2009 2009 1 3,228.-- Opposition filed
31.12.2008 2008 1 362,499.-- Opposition filed
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
Official bankruptcy
reports:
No bankruptcy
publications available on the subject.
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.
The company is not
listed in the WorldCompliance database.
Financial Situation: The financial situation is considered to be good.
Payment experiences: Financial obligations are met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.80 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
|
CHF |
1 |
Rs.67.30 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.