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Report No. : |
322461 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BALLY SCHUHFABRIKEN AG |
|
|
|
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Registered Office : |
Via Industria 1 Ch 6987 Caslano |
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|
|
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Country : |
Switzerland |
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|
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1851 |
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|
|
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Com. Reg. No.: |
514.3.024.655-4 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
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No. of Employee : |
280 |
RATING & COMMENTS
|
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 : |
Slow but correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 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 responded to 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 hurt Switzerland's long history of bank secrecy.
|
Source
: CIA |
BALLY
SCHUHFABRIKEN AG
Operating address:
Via Industria 1
6987 Caslano/TI
Switzerland/CH
Telephone: 091
6129111
Fax: 091
6129112
Web
site: http://www.bally.com
E-mail: info@bally.com
WIN
Worldbox No.: CH0000042795
VAT-No.: CHE-116.309.886 MWST
UID-No.: CHE105746320
Established: 1851
History: 1851: Established from Carl Franz Bally
Line
of Business: Clothing/Shoes
Industry
Division: Manufacturing
Industry-code (NACE): 1520 Manufacture of footwear
1413 Manufacture of other outerwear
Import/Export: Import, Export
Banks: UBS Ltd
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 280
Sales: CHF 80,000,000.--
The business activities includes the
production and sale of shoes, clothing and accessories. Bally Group currently
operates over 250 stores worldwide, as well as 72 duty-free shops on international
Airports. The production is in Italy and Switzerland, the design-studio is in
London. Revenues are broken down as follows: shoes (50%), bags and accessories
(40%) and clothing (10%).
Real
Estate: The company owns
buildings.
Company
No: 514.3.024.655-4
UID-No.: CHE105746320
Legal
form: Company limited by
shares
Registration: 23.06.2000
Legal
status: active
Responsible
Register: Registro di commercio del
Cantone Ticino
History: Date of Statutes:
20.06.2000
Date of
Statutes: 17.12.1999
Date of
Incorporation Statutes: 19.06.1992
Date of
Statutes: 22.12.2000
Entry Deleted Name
active Bally
Schuhfabriken AG
active Chaussures
Bally Société Anonyme de Fabrication (Name translated)
active Bally
Shoe Factories Ltd (Name translated)
active Calzaturificio
Bally SA (Name translated)
Entry Deleted Legal domicile
23.06.2000 Caslano,
Switzerland
23.06.2000 Schönenwerd, Switzerland
Entry Deleted Address
23.06.2000 Via
Industria 1, 6987 Caslano/TI, Switzerland/CH
23.06.2000 Parkstrasse 1, 5012 Schönenwerd/SO,
Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 27,000,000, paidup CHF 27,000,000
Entry Deleted Capital Structure
active 2,700
Registered shares of CHF 10,000.--
Title Name
President Frédéric De
Narp
Citizen:
France
Residential
address: Londra, United Kingdom
joint
signature of two
Registered
since: 15.01.2014
Director Fabio
Fusco
Citizen:
Italy
Residential
address: Bosco Luganese (Bioggio), Switzerland
joint
signature of two
Registered
since: 17.04.2015
Director Mihaela
Smickoski
Citizen:
Lugano, Switzerland
Residential
address: Lugano, Switzerland
joint
signature of two
Registered
since: 19.12.2011
Title Name
Member
with signing authority Antoine
Auvinet
Citizen:
France
Residential
address: Lugano, Switzerland
joint
signature of two
Registered
since: 17.06.2014
Member
with signing authority Riccardo
Giovanni Battigalli
Citizen:
Italy
Residential
address: 6987 Caslano/TI, Switzerland
joint
signature of two
Registered
since: 23.09.2009
Member
with signing authority Laura
Carpeggiani
Citizen:
Italy
Residential
address: Leggiuno, Italy
joint
signature of two
Registered
since: 19.11.2012
Member
with signing authority Marco Comazzi
Citizen:
Italy
Residential
address: Gentilino (Collina d'Oro), Switzerland
joint
signature of two
Registered
since: 13.03.2014
Member
with signing authority Marina
Facchini
Citizen:
Italy
Residential
address: Castagnola (Lugano), Switzerland
joint
signature of two
Registered
since: 08.05.2015
Member
with signing authority Prisca Girardi
Citizen:
Italy
Residential
address: Lugano, Switzerland
joint
signature of two
Registered
since: 28.06.2006
Member
with signing authority Barbara
Guidicetti
Citizen:
Lugano, Switzerland
Residential
address: Ponte Capriasca, Switzerland
joint
signature of two
Registered
since: 25.03.2015
Member
with signing authority Paolo Sala
Citizen:
Italy
Residential
address: Cadegliano Viconago, Italy
joint
signature of two
Registered
since: 19.11.2012
Member
with signing authority Erhard
Schwendimann
Citizen:
Zurigo, Switzerland
Residential
address: Zurigo/ZH, Switzerland
joint
signature of two
Registered
since: 20.07.2006
Title Name
Auditor KPMG SA
Residential
address: Lugano, Switzerland
Id:
CH-514.9.009.123-5
Registered
since: 17.09.2008
Name: Agnaten SE
City/Country: Wien, Austria/AT
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12 12
Currency: th.
EUR th. EUR th. EUR th. EUR th.
EUR
Statement norm: IAS
Intangible fixed
assets 1,015,243.0 226,247.0 204,970.0
Tangible fixed
assets 5,600.0 92,509.0 55,583.0 43,557.0
Financial fixed
assets 6,471,400.0 5,196,600.0 4,370,336.0 4,705,303.0 4,312,387.0
other fixed assets 1,188,000.0 881,200.0 23,077.0 232,458.0 195,557.0
Fixed assets 7,659,400.0 6,083,400.0 5,501,165.0 5,219,591.0 4,756,471.0
Stocks 158,888.0 85,324.0 96,888.0
Trade accounts
receivable 140,400.0 154,187.0 500,092.0 294,844.0
Liquid assets 12,300.0 321,900.0 58,756.0 104,085.0 31,682.0
other trade
accounts 30,000.0 9,200.0 16,278.0 33,877.0 6,525.0
Other current
assets 42,300.0 331,100.0 75,034.0 137,962.0 38,207.0
Current assets 42,300.0 471,500.0 388,109.0 723,378.0 429,939.0
Total assets 7,701,700.0 6,554,900.0 5,889,274.0 5,942,969.0 5,186,410.0
Capital 51,138.0 51,138.0 51,138.0 51,138.0 51,138.0
Other shareholders
funds 5,727,662.0 5,237,662.0 4,272,135.0 4,725,883.0 4,268,137.0
Total shareholders
equity 5,778,800.0 5,288,800.0 4,323,273.0 4,777,021.0 4,319,275.0
long term debt
(financial debts) 860,400.0 500,000.0 1,060,904.0 486,166.0 595,694.0
Provisions 0.0 10,382.0 57,471.0 49,438.0
Other non current
liabilities 564,600.0 269,500.0 166,312.0 23,855.0 27,271.0
Non current
liabilities 1,425,000.0 769,500.0 1,237,598.0 567,492.0 672,403.0
short term debt
(financial debts) 0.0 54,166.0 497,808.0 95,676.0
Trade accounts
payable 27,400.0 440,200.0 217,480.0 85,620.0 87,648.0
Provisions 0.0 16,971.0 2,610.0 3,721.0
Accruals 1,985.0 4,152.0 2,232.0
other accounts
payable 470,500.0 56,400.0 37,801.0 8,266.0 5,455.0
other current
liabilities 470,500.0 56,400.0 56,757.0 15,028.0 11,408.0
Current
liabilities 497,900.0 496,600.0 328,403.0 598,456.0 194,732.0
Shareh. equity,
min. int. & liabilities 7,701,700.0 6,554,900.0 5,889,274.0 5,942,969.0 5,186,410.0
Sales 0.0 0.0 503,735.0 295,423.0 265,876.0
Reduction of
proceeds 0.0 216,361.0 124,442.0 123,446.0
Net sales 0.0 0.0 287,374.0 170,981.0 142,430.0
Other operating
revenue 10,989.0 14,734.0 15,054.0
Operating revenue 0.0 0.0 298,363.0 185,715.0 157,484.0
Gross profit 0.0 0.0 298,363.0 185,715.0 157,484.0
Other operating
expenses 252,300.0 348,800.0 380,774.0 248,577.0 232,563.0
Operating result -252,300.0 -348,800.0 -82,411.0 -62,862.0 -75,079.0
Interest revenues 179,276.0 225,766.0 152,132.0
other financial
revenues 397,400.0 767,700.0
Financial income 397,400.0 767,700.0 179,276.0 225,766.0 152,132.0
Interest expenses 82,556.0 37,706.0 31,299.0
other financial
expenses 298,700.0 185,100.0
Financial expenses 298,700.0 185,100.0 82,556.0 37,706.0 31,299.0
Financial result 98,700.0 582,600.0 96,720.0 188,060.0 120,833.0
Result before
extraordinary items -153,600.0 233,800.0 14,309.0 125,198.0 45,754.0
Extraordinary
income 664,000.0 637,200.0
Extraordinary
Result 664,000.0 637,200.0
Result before
taxes 510,400.0 871,000.0 14,309.0 125,198.0 45,754.0
Taxes 200.0 400.0 -2,327.0 1,829.0 10,566.0
Result before
minority interests 510,200.0 870,600.0 16,636.0 123,369.0 35,188.0
Result for the
financial year 510,200.0 870,600.0 16,636.0 123,369.0 35,188.0
Depreciation 34,315.0 27,656.0 39,058.0
Cash flow 510,200.0 870,600.0 50,951.0 151,025.0 74,246.0
Cash flow from
operating activities -600,900.0 638,200.0 -81,898.0 -102,581.0 -38,260.0
Investments in
tangible fixed assets 27,490.0 25,918.0 14,763.0
Cash flow from
investing activities 355,838.0 -112,482.0 -133,764.0
Cash flow from
financing activities 291,100.0 -307,500.0 -322,952.0 286,885.0 36,299.0
Others 200.0 -67,556.0 3,682.0 581.0 -540.0
Change in
liquidity -309,600.0 263,144.0 -45,330.0 72,403.0 -136,265.0
Liquidity at
beginning of the year 321,900.0 58,756.0 104,085.0 31,682.0 167,947.0
Liquidity at end
of the year 12,300.0 321,900.0 58,755.0 104,085.0 31,682.0
Cost of employees 127,625.0 85,806.0 77,789.0
Research and Development 7,522.0 3,784.0 2,310.0
Employees at year end 2,600 1,700 1,700
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Agnaten SE
City/Country: Wien, Austria/AT
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct, Group-Level 2
Name: Bally International SA
City/Country: Caslano/TI, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Name: Bally Australia Pty
Ltd
City/Country: St. Peters, Australia/AU
Name: Bally Deutschland GmbH
City/Country: Düsseldorf, Germany/DE
Name: Bally Gesellschaft mbH
City/Country: Wien, Austria/AT
Name: Bally Group (UK)
Limited
City/Country: London, United Kingdom/GB
Name: BALLY HOLDINGS, INC.
City/Country: Wilmington/Delaware, United
States of America/US
Name: Bally Istanbul
Ayakkabi Canta Tic. Ltd.
City/Country: Istanbul, Turkey/TR
Name: BALLY ITALIA S.R.L.
City/Country: Firenze/Firenze, Italy/IT
Name: Bally Moda SA
City/Country: Madrid, Spain/ES
Name: Bally Schoenhandel BV
City/Country: Amsterdam, Netherlands/NL
Name: Bally (Shanghai)
Commercial Company
City/Country: Shanghai, China/CN
Name: Bally Singapore (Pte)
Ltd
City/Country: Singapore, Singapore/SG
Name: BALLY SOURCING SERVICES
LIMITED
City/Country: Hong Kong, Hong Kong/HK
Name: BALLY STUDIO S.R.L.
City/Country: Firenze/Firenze, Italy/IT
Name: Chaussures Bally
France SAS
City/Country: Paris, France/FR
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
21.11.2013 2013 1 1,264,739.-- Opposition filed
31.12.2012 2012 1 1,264,739.-- Opposition filed
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 1 149,420.-- Opposition filed
31.12.2009 2009 2 563,486.-- Opposition filed
31.12.2008 2008 3 1,143,523.-- Opposition filed
31.12.2007 2007 2 13,155.-- Opposition filed
31.12.2006 2006 1 441,547.-- Opposition filed
31.12.2005 2005 0 Legal
actions
31.12.2004 2004 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.
Debt collection case:
JAN 2014: CHF 86.00, booked up.
DEC 2013: CHF 108.00, booked up.
AUG 2011: CHF 2'879.00, paid.
NOV 2007: CHF 2'961.00, paid.
Note: The VAT number - CHE-116.309.886 MWST
- is the Group VAT number.
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: Financial obligations are
met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.69 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.