|
Report No. : |
353462 |
|
Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHARLES VÖGELE TRADING AG |
|
|
|
|
Registered Office : |
Gwattstrasse 15, 8808 Pfäffikon SZ/SZ |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Year of Establishment : |
1955 |
|
|
|
|
Com. Reg. No.: |
130.0.007.352-0 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
The business activities includes services in the administrative,
commercial and computer science area |
|
|
|
|
No. of Employee : |
200 |
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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|
|
|
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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 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 |
CHARLES VÖGELE
TRADING AG
Gwattstrasse 15
8808 Pfäffikon
SZ/SZ
Switzerland/CH
Telephone: 055
4167111
Fax: 055
4167171
Web
site: http://www.charles-voegele.com
E-mail: service@charles-voegele.com
WIN
Worldbox No.: CH0000047724
VAT-No.: CHE-107.704.887 MWST
UID-No.: CHE107704887
Established: 1955
Line
of Business: Commercial services,
IT services
Industry
Division: Services
Industry-code (NACE): 8299 Other business support service activities
n.e.c.
6201 Computer programming activities
6209 Other information technology and computer
service activities
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 200
Sales: CHF 20-40 Mio
The business activities includes services in
the administrative, commercial and computer science area of the Charles Vögele Group.
Real
Estate: The company does
not appear to own any property.
Company
No: 130.0.007.352-0
UID-No.: CHE107704887
Legal
form: Company limited by
shares
Registration: 21.12.1994
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Schwyz
History: Date of Statutes:
03.10.2014
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
Entry Deleted Capital Structure
01.12.1999 10,000
Registered shares with restricted transferability of CHF 1,000.--
Title Name
President Markus
Voegeli
Citizen:
Zürich, Zauggenried, Switzerland
Residential
address: 8700 Küsnacht /ZH, Switzerland
joint
signature of two
Registered
since: 20.11.2009
Director Beatrice
Grünwald
Citizen:
Germany
Residential
address: Gommiswald, Switzerland
joint
signature of two
Registered
since: 15.01.2014
Title Name
Vice-Director Thomas Friedrich
Beckmann
Citizen:
Germany
Residential
address: 6403 Küssnacht /SZ, Switzerland
joint
signature of two
Registered
since: 31.10.2006
Vice-Director Jürg Bieri
Citizen:
Schangnau, Switzerland
Residential
address: Bassersdorf, Switzerland
joint
signature of two
Registered
since: 29.06.2000
Vice-Director Nicole Isabelle
Borel
Citizen:
Riehen, Switzerland
Residential
address: Zollikon, Switzerland
joint
signature of two
Registered
since: 11.10.2011
Vice-Director Sebastiaan
Johannes Maria Duijsens
Citizen:
Netherlands
Residential
address: 8832 Wollerau/SZ, Switzerland
joint
signature of two
Registered
since: 13.09.2010
Vice-Director Martin Graf
Citizen:
Zürich, Grub AR, Switzerland
Residential
address: Meilen, Switzerland
joint
signature of two
Registered
since: 27.01.2003
Vice-Director Michael Hofmann
Citizen:
Germany
Residential
address: Freienbach, Switzerland
joint
signature of two
Registered
since: 03.06.1998
Vice-Director Heinrich Kälin
Citizen:
Einsiedeln, Switzerland
Residential
address: Pfäffikon/SZ, Switzerland
joint
signature of two
Registered
since: 03.06.1998
Vice-Director Johannes
Ferdinand Schuller
Citizen:
Germany
Residential
address: Feusisberg, Switzerland
joint
signature of two
Registered
since: 24.02.2012
Vice-Director Hans Peter Thomas
Citizen:
Germany
Residential
address: 8808 Pfäffikon /SZ, Switzerland
joint
signature of two
Registered
since: 13.09.2010
Vice-Director Wolfgang
Zumkeller
Citizen:
Germany
Residential
address: Kilchberg/ZH, Switzerland
joint
signature of two
Registered
since: 24.02.2012
Member
with signing authority Karl Faass
Citizen:
Germany
Residential
address: Feusisberg, Switzerland
joint
signature of two
Registered
since: 13.01.2015
Member
with signing authority Meinrad
Fleischmann
Citizen:
Altendorf, Switzerland
Residential
address: Oberrieden, Switzerland
joint
signature of two
Registered
since: 29.05.2015
Member
with signing authority Jessica
Grossmann
Citizen:
Germany
Residential
address: Glarus Süd, Switzerland
joint
signature of two
Registered
since: 18.10.2013
Member
with signing authority Eva Danielle
Grümer
Citizen:
Germany
Residential
address: Zürich, Switzerland
joint
signature of two
Registered
since: 13.01.2015
Member
with signing authority Max E. Katz
Citizen:
Zürich, Switzerland
Residential
address: Rüschlikon, Switzerland
joint
signature of two
Registered
since: 03.10.2012
Member
with signing authority Claudia
Kirschke
Citizen:
Germany
Residential
address: 8808 Pfäffikon /SZ, Switzerland
joint
signature of two
Registered
since: 28.05.2009
Member
with signing authority Valérie
Klemenz
Citizen:
France
Residential
address: Freienbach, Switzerland
joint
signature of two
Registered
since: 28.12.2012
Member
with signing authority Birgit
Meier-Hobmeier
Citizen:
Zürich, Switzerland
Residential
address: Uitikon, Switzerland
joint
signature of two
Registered
since: 27.02.2013
Member
with signing authority Andreas Ott
Citizen:
Schwyz, Switzerland
Residential
address: Wollerau, Switzerland
joint
signature of two
Registered
since: 03.10.2012
Member
with signing authority Andreas
Schrödel
Citizen:
Germany
Residential
address: 8840 Einsiedeln/SZ, Switzerland
joint
signature of two
Registered
since: 06.06.2014
Member
with signing authority Andreas
Schrödl
Citizen:
Germany
Residential
address: Einsiedeln, Switzerland
joint
signature of two
Registered
since: 06.06.2014
Member
with signing authority Wilhelmus
Johannes Smit
Citizen:
Netherlands
Residential
address: Sattel, Switzerland
joint
signature of two
Registered
since: 13.01.2015
Member
with signing authority Manuela
Stoiber
Citizen:
Germany
Residential
address: Opfikon, Switzerland
joint
signature of two
Registered
since: 28.12.2012
Member
with signing authority Philipp
Thywissen
Citizen:
Germany
Residential
address: Wädenswil, Switzerland
joint
signature of two
Registered
since: 29.05.2015
Member
with signing authority Patrizia Barbara
Vetter
Citizen:
Arlesheim, Switzerland
Residential
address: Arlesheim, Switzerland
joint
signature of two
Registered
since: 30.08.2011
Member
with procuration Peter Bühler
Citizen:
Ettiswil, Menznau, Switzerland
Residential
address: Unterägeri, Switzerland
joint
signature of two
Registered
since: 27.01.2003
Member
with procuration Patrick
Trümpler
Citizen:
Zürich, Rüschikon, Switzerland
Residential
address: Auslikon, Switzerland
joint
signature of two
Registered
since: 30.01.2004
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Zürich, Switzerland
Id:
CHE-106.839.438
Registered
since: 07.07.2003
Name: Charles Vögele Holding
AG
City/Country: Pfäffikon SZ/SZ, Switzerland/CH
No.
of owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Name: Charles Vögele Holding
AG
City/Country: Pfäffikon SZ/SZ, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
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 bei Graz, Australia/AU
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/Kowloon, 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/SZ, Switzerland/CH
Name: Charles Vögele
(Netherlands) BV
City/Country: Utrecht, Netherlands/NL
Name: Charles Vögele Store
Management AG
City/Country: Pfäffikon SZ/SZ, Switzerland/CH
Name: Charles Vögele
trgovina s tekstilom doo
City/Country: Lubljana, Slovenia/SI
Name: Cosmos Mode AG,
Pfäffikon
City/Country: Pfäffikon SZ/SZ, Switzerland/CH
Name: MacFash GmbH
City/Country: Pfäffikon SZ/SZ, Switzerland/CH
Charles Vögele
Holding AG
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2014 31.12.2013 31.12.2012 31.12.2011 31.12.2010
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: Local GAAP IAS IAS IAS IAS
Balance Sheet
Intangible fixed
assets 4,797.0 5,180.0 43,121.0 45,195.0 82,409.0
Land and buildings 118,670.0 123,536.0 135,300.0 140,546.0 146,203.0
Other tangible
fixed assets 96,324.0 111,909.0 138,669.0 200,300.0 206,624.0
Tangible fixed
assets 214,994.0 235,445.0 273,969.0 340,846.0 352,827.0
Financial fixed
assets 115.0 115.0 115.0 115.0 759.0
other fixed assets 6,146.0 5,567.0 4,857.0
Fixed assets 219,906.0 240,740.0 323,351.0 391,723.0 440,852.0
Stocks 140,335.0 148,771.0 183,606.0 211,974.0 150,365.0
Trade accounts
receivable 4,469.0 3,739.0 15,116.0 16,528.0 14,361.0
Cash & Cash
Equivalents 97,310.0 70,220.0 87,009.0 109,553.0 129,529.0
Securities 9,252.0
other trade
accounts 8,019.0 15,360.0 18,336.0
Accruals 3,257.0 3,829.0 2,689.0 2,714.0 3,003.0
Other current
assets 108,586.0 89,409.0 89,698.0 121,519.0 150,868.0
Current assets 253,390.0 241,919.0 288,420.0 350,021.0 315,594.0
Total assets 473,296.0 482,659.0 611,771.0 741,744.0 756,446.0
Capital 26,400.0 26,400.0 26,400.0 26,400.0 30,800.0
Other shareholders
funds 128,750.0 139,597.0 207,998.0 329,547.0 441,829.0
Total shareholders equity 155,150.0 165,997.0 234,398.0 355,947.0 472,629.0
Minority interests 0.0 0.0 0.0
long term debt
(financial debts) 172,540.0 157,328.0 197,478.0 15,842.0 64,659.0
Provisions 28,004.0 27,632.0 6,477.0 6,581.0 6,201.0
Other non current
liabilities 26,599.0 32,603.0 30,200.0
Non current liabilities 200,544.0 184,960.0 230,554.0 55,026.0 101,060.0
short term debt
(financial debts) 1,564.0 1,534.0 4,798.0 227,650.0 38,705.0
Trade accounts
payable 49,549.0 48,645.0 61,482.0 37,473.0 40,725.0
Provisions 2,105.0 5,586.0 5,374.0 1,310.0 9,254.0
Accruals 34,075.0 37,922.0 35,312.0 29,612.0 35,571.0
other accounts
payable 30,309.0 38,015.0 39,853.0 34,726.0 58,502.0
other current
liabilities 66,489.0 81,523.0 80,539.0 65,648.0 103,327.0
Current liabilities 117,602.0 131,702.0 146,819.0 330,771.0 182,757.0
Shareh. equity, min. int. & liabilities 473,296.0 482,659.0 611,771.0 741,744.0 756,446.0
Profit and loss
account
Sales 901,160.0 946,518.0 1,148,543.0 1,207,192.0 1,416,016.0
Reduction of
proceeds 176,710.0 190,967.0 217,790.0
Net sales 901,160.0 946,518.0 971,833.0 1,016,225.0 1,198,226.0
Other operating
revenue 8,328.0 6,718.0 6,589.0 4,091.0 4,577.0
Operating revenue 909,488.0 953,236.0 978,422.0 1,020,316.0 1,202,803.0
Cost of goods sold 297,302.0 323,783.0 370,055.0 391,268.0 397,628.0
Gross profit 612,186.0 629,453.0 608,367.0 629,048.0 805,175.0
Other operating
expenses 610,582.0 649,489.0 707,816.0 742,736.0 767,539.0
Operating result 1,604.0 -20,036.0 -99,449.0 -113,688.0 37,636.0
Interest revenues 333.0 306.0 407.0 717.0 723.0
other financial
revenues 4,007.0 966.0 0.0 73.0
Financial income 333.0 4,313.0 1,373.0 717.0 796.0
Interest expenses 9,694.0 10,698.0 10,162.0 3,010.0 5,206.0
other financial
expenses 1,369.0 0.0 2,509.0 4,235.0
Financial expenses 11,063.0 10,698.0 10,162.0 5,519.0 9,441.0
Financial result -10,730.0 -6,385.0 -8,789.0 -4,802.0 -8,645.0
Result before extraordinary items -9,126.0 -26,421.0 -108,238.0 -118,490.0 28,991.0
Extraordinary
Result 0.0 0.0 0.0 0.0 0.0
Result before taxes -9,126.0 -26,421.0 -108,238.0 -118,490.0 28,991.0
Taxes 1,707.0 3,142.0 1,205.0 656.0 11,220.0
Result before
minority interests -10,833.0 -29,563.0 -109,443.0 -119,146.0 17,771.0
minority interests 0.0 0.0 0.0
Result for the financial year -10,833.0 -29,563.0 -109,443.0 -119,146.0 17,771.0
Cash flow
Depreciation 39,310.0 49,639.0 82,443.0 92,547.0 71,897.0
Cash flow 28,477.0 20,076.0 -27,000.0 -26,599.0 89,668.0
Cash flow from
operating activities 28,993.0 38,087.0 28,546.0 -108,075.0 88,078.0
Investments in
tangible fixed assets 17,958.0 9,487.0 12,314.0 46,462.0 3,834.0
Cash flow from
investing activities -15,579.0 -10,664.0 -13,578.0 -49,091.0 -45,823.0
Cash flow from
financing activities 14,245.0 -44,600.0 -37,613.0 138,462.0 -35,571.0
Others -569.0 388.0 101.0 -1,272.0 -4,804.0
Change in
liquidity 27,090.0 -16,789.0 -22,544.0 -19,976.0 1,880.0
Liquidity at
beginning of the year 70,220.0 87,009.0 109,553.0 129,529.0 127,649.0
Liquidity at end
of the year 97,310.0 70,220.0 87,009.0 109,553.0 129,529.0
Notes
Material costs 297,302.0 323,783.0 370,005.0 391,268.0 397,628.0
Cost of employees 238,520.0 242,513.0 252,950.0 267,932.0 291,980.0
Added value 278,398.0 276,429.0 237,317.0 244,999.0 398,074.0
Working Capital 95,255.0 103,865.0 137,240.0 191,029.0 124,001.0
Net Current Assets 135,788.0 110,217.0 141,601.0 19,250.0 132,837.0
Sales per Employee 144.1 139.6 163.1
Market
capitalisation 145,000.0 161,920.0 472,560.0
Gross cost land
and buildings 248,193.0 248,841.0 252,038.0 253,873.0 255,069.0
Gross cost other
tangible fixed assets 445,831.0 466,793.0 480,610.0 489,036.0 495,770.0
Gross cost total 694,024.0 715,634.0 732,648.0 742,909.0 750,839.0
Insurance value
total 655,000.0 679,100.0 677,700.0 682,200.0 689,000.0
Employees at year end 6,858 6,712 6,743 7,279 7,345
Full time units
average 4,264 4,417 4,560 4,690 4,861
Employees inland 1,884 1,863 1,888 2,016 2,293
Employees abroad 4,974 4,849 5,247 5,263 5,052
Offices 763 781 812 817 826
Offices inland 167 168 170 168 168
Offices abroad 596 613 642 649 658
It is believed that the company has no
investments.
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Control date Year No. Amount CHF Status
01.11.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
31.12.2005 2005 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.
Payment experiences from pre-legal
collection cases:
No payment experiences from pre-legal
collection cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection
cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of
payment and the business conduct.
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: Financial obligations are
paid promptly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
CHF |
1 |
Rs. 68.33 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ASH |
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.