|
|
|
MIRA INFORM REPORT
|
Report No. : |
495333 |
|
Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SOWIND S.A. |
|
|
|
|
Registered Office : |
Place Girardet 1, 2300 La Chaux-de-Fonds/NE |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Date of Incorporation : |
1791 |
|
|
|
|
Com. Reg. No.: |
645.1.004.808-4 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
The company engages in the manufacture and distribution of watches labelled the brand "GIRARD-PERREGAUX". |
|
|
|
|
No. of Employees : |
250-399 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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, a country that espouses neutrality, is a 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 2011-17.
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 |
Note
Your provided telephone number is a mobile number that we are not able to associate with subject company.
All known official
telephone numbers of subject company are:
Tel: +41 32 911 33
33
Tel: +41 32 911 33
33
Tel: +41 32 911 36
36
Tel: +41 32 911 34
34
Tel: +41 32 911 35
35
Tel: +41 32 911 35
00
Fax: +41 32 911 36
00
Fax: +41 32 911 36
37
Fax: +41 32 913 03
43
Fax: +41 32 911 35
36
Fax: +41 32 913 05
20
Company name
Sowind S.A.
Operating address
Place Girardet 1
2300 La Chaux-de-Fonds/NE
Switzerland/CH
Telephone: +41
329113434
Fax: +41
329130343
Web site: http://www.girard-perregaux.ch
E-mail: com@girard-perregaux.ch
VAT-No.: CHE-102.173.534
TVA
UID-No.: CHE102173534
Profile
Established: 1791
History: 1791: Established from Jean François Bautte
Line of Business: Watch technology, Consumer goods wholesale, Personal
services
Industry Division: Manufacturing, Wholesale trade, Services
Industry-code (NACE): 2652 Manufacture of
watches and clocks
4648 Wholesale of watches and jewellery
9525 Repair of watches, clocks and jewellery
Import/Export: Export
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 250-399
Sales: CHF
100-200 Mio
Activity
The company engages in
the manufacture and distribution of watches labelled the brand
"GIRARD-PERREGAUX".
Operations and
Branches:
At the address,
Place Girardet 1, 2300 La Chaux-de-Fonds, Switzerland, we find the company's
registered office.
Real Estate
Real Estate: The
company does not appear to own any property.
Company Register
Company No: 645.1.004.808-4
UID-No.: CHE102173534
Legal form: Company
limited by shares
Registration: 31.05.1930
Legal status: active
Responsible Register: Registre du commerce du canton de Neuchâtel
History: Date
of Statutes: 06.04.1990
Date
of Incorporation Statutes: 16.05.1930
Date
of Statutes: 16.07.2009
Entry Deleted Name
20.07.2009 Sowind
S.A.
20.07.2009 Sowind
Ltd (Name translated)
20.07.2009 Sowind
A.G. (Name translated)
20.07.2009 Girard-Perregaux S.A.
Entry Deleted Legal domicile
active La
Chaux-de-Fonds, Switzerland
Entry Deleted Address
17.03.2003 Place
Girardet 1, 2300 La Chaux-de-Fonds, Switzerland/CH
03.03.2003 Place Girardet 1, 2300 La Chaux-de-Fonds/NE,
Switzerland/CH
03.03.2003 17.03.2003 Rue Numa-Droz 136-138, 2300 La
Chaux-de-Fonds/NE, Switzerland/CH
Entry Deleted Capital
20.07.2009 Share
Capital CHF 6,843,700, paid up CHF 6,843,700
20.07.2009 Share Capital CHF 3,000,000, paid up CHF
3,000,000
Entry Deleted Capital Structure
20.07.2009 68,437
Registered shares with restricted transferability of CHF 100.--
20.07.2009 30,000 Registered shares of CHF 100.--
Official Administration
Title Name
President Calce,
Antonio
Citizen:
Italy
Residential
address: Milvignes, Switzerland
joint
signature of two
Registered
since: 26.01.2015
Director Beaucourt,
David Daniel Pierre
Citizen:
France
Residential
address: Neuchâtel, Switzerland
joint
signature of two
Registered
since: 26.01.2015
Management
Title Name
General Director Calce,
Antonio
Citizen:
Italy
Residential
address: Milvignes, Switzerland
joint
signature of two
Registered
since: 26.01.2015
Director Beaucourt,
David Daniel Pierre
Citizen:
France
Residential
address: Neuchâtel, Switzerland
joint
signature of two
Registered
since: 26.01.2015
Director Bories,
Jean-Marc Jöel Olivier
Citizen:
France
Residential
address: Froideville, Switzerland
joint
signature of two
Registered
since: 07.05.2013
Director Le
Du , Sylvie Michèle
Citizen:
Val-de-Travers, Switzerland
Residential address: Thônex, Switzerland
joint
signature of two
Registered
since: 10.06.2016
Director Macaluso,
Stefano
Citizen:
Italy
Residential
address: 2000 Neuchâtel/NE, Switzerland
joint
signature of two
Registered
since: 13.09.2004
Member with signing authority Bensoussan, Albert
Citizen:
France
Residential
address: Paris, France
joint
signature of two
Registered
since: 27.04.2015
Member with signing authority Dängeli, Fabrice Lionel
Citizen:
Guggisberg, Switzerland
Residential
address: Mex/VD, Switzerland
joint
signature of two
Registered
since: 20.04.2015
Member with signing authority Isaak , Christophe
Citizen:
Puplinge, Switzerland
Residential
address: Cortaillod, Switzerland
joint
signature of two
Registered
since: 21.09.2017
Member with signing authority Parker , Martin Austin
Citizen:
Bernex, Switzerland
Residential
address: Bernex, Switzerland
joint
signature of two
Registered
since: 20.09.2016
External Positions
Title Name
Auditor KPMG
SA,
Residential
address: Neuchâtel, Switzerland
Executive board
Title Name
Chief Executive Officer Macaluso, Stefano
Ultimate Parent Company
Name: SA
Kering
City/Country: Paris,
France/FR
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%,
directly held
Name: Sowind
Group S.A.
City/Country: La
Chaux-de-Fonds/NE, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Investments
It is believed that
the company has no investments.
Financial Data
SA Kering
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2017 31.12.2016 31.12.2015 31.12.2014 31.12.2013
Number of months: 12 12 12 12 12
Currency: mil.
EUR mil. EUR mil. EUR mil. EUR mil.
EUR
Statement norm: IAS
Balance Sheet
Intangible fixed assets 14,580.0 14,806.0 15,044.3 10,748.1 14,472.9
Land and buildings 771.0 784.0 1,887.2
Other tangible fixed assets 1,497.0 1,422.0 1,169.1
Tangible fixed assets 2,268.0 2,206.0 2,073.0 1,887.2 1,676.9
Financial fixed assets 413.0 528.0 423.2 334.1
other fixed assets 1,000.0 959.0 1,368.8 794.2 1,402.1
Fixed assets 18,261.0 18,499.0 18,486.1 17,892.6 17,886.0
Stocks 2,699.0 2,432.0 2,191.2 2,234.7 1,805.5
Trade accounts receivable 1,366.0 1,196.0 1,137.1 1,030.0 949.9
Cash & Cash Equivalents 2,137.0 1,050.0 1,227.6 1,089.9 1,419.2
Securities 156.0 131.0
other trade accounts 958.0 831.0
Other current assets 3,251.0 2,012.0 2,036.4 2,096.6 2,169.4
Current assets 7,316.0 5,640.0 5,364.7 5,361.3 4,924.8
Total assets 25,577.0 24,139.0 23,850.8 23,253.9 22,810.8
Capital 505.0 505.0 505.2 505.1 504.9
Other shareholders funds 11,443.0 10,765.0 11,117.9 10,129.0 10,081.7
Total shareholders equity 11,948.0 11,270.0 11,623.1 10,634.1 10,586.6
Minority interests 678.0 695.0 628.2 609.3
long term debt (financial debts) 4,246.0 4,206.0 4,039.9 3,195.0 3,132.4
Provisions 181.0 217.0 215.7 161.2 206.0
Other non current liabilities 2,761.0 2,854.0 2,872.7 2,791.8 3,717.5
Non current liabilities 7,188.0 7,277.0 7,128.3 6,148.0 7,055.9
short term debt (financial debts) 1,308.0 1,520.0 478.6 2,635.2 1,737.4
Trade accounts payable 1,241.0 1,098.0 939.7 982.8
Provisions 193.0 152.0 232.8 159.9
other accounts payable 3,021.0 2,127.0 1,992.8 2,661.7
other current liabilities 3,214.0 2,279.0 3,681.1 2,225.6 2,821.6
Current liabilities 5,763.0 4,897.0 5,099.4 5,843.6 4,559.0
Shareh. equity, min. int. & liabilities 25,577.0 24,139.0 23,850.8 23,253.9 22,810.8
Profit and loss account
Sales 15,478.0 12,385.0
Net sales 15,478.0 12,385.0 11,662.1 10,037.5 9,748.4
Operating revenue 15,478.0 12,385.0 11,662.1 10,037.5 9,748.4
Cost of goods sold 5,345.0 4,595.0 4,078.0 3,741.7 3,657.9
Gross profit 10,133.0 7,790.0 7,584.1 6,295.8 6,090.5
Other operating expenses 7,427.0 6,410.0 6,497.0 4,743.9 4,782.9
Operating result 2,706.0 1,380.0 1,087.1 1,551.9 1,307.6
other financial revenues 1.6
Financial income 8.9 1.6
Interest expenses 243.6
other financial expenses 243.0 202.0 749.4 212.3
Financial expenses 243.0 202.0 110.4 749.4 212.3
Financial result -243.0 -202.0 -101.5 -749.4 -210.7
Result before extraordinary items 2,463.0 1,178.0 985.6 802.5 1,096.9
Extraordinary Result 30.2
Result before taxes 2,463.0 1,178.0 1,015.8 802.5 1,096.9
Taxes 593.0 298.0 319.8 325.6 235.4
Result before minority interests 1,870.0 880.0 696.0 476.9 861.5
minority interests 79.0 55.0 -7.9
Result for the financial year 1,791.0 825.0 696.0 476.9 869.4
Cash flow
Depreciation 974.3 280.8
Cash flow 1,791.0 825.0 1,670.3 757.7 861.5
Cash flow from operating activities 3,020.0 1,792.0 1,261.3 1,524.9
Investments in tangible fixed assets 752.0 611.0 551.4 345.0
Cash flow from investing activities -725.0 -670.0 -902.6 -970.5
Cash flow from financing activities -1,299.0 -1,264.0 -275.0 -919.7
Others 146.0 -4.0 -515.9 -372.2
Change in liquidity 1,142.0 -146.0 -432.2 -737.5
Liquidity at beginning of the year 757.0 903.0 1,237.6 1,975.1
Liquidity at end of the year 1,899.0 757.0 805.4 1,237.6
Notes
Cost of employees 2,444.0 1,984.0 1,840.0 1,545.2 1,534.7
Added value 4,073.7 2,628.5 2,631.6
Working Capital 2,388.6 2,281.9 2,755.4
Net Current Assets 1,553.0 743.0 265.3 -482.3 365.8
Sales per Employee 0.3
Gross cost land and buildings 953.1
Gross cost other tangible fixed assets 2,647.6
Gross cost total 3,600.7
Employees at
year end 38,801 37,441
Financials
Balance sheet
publication:
The subject company
does not publish financial figures.
Legal Actions
Control date Year No. Amount CHF Status
03.11.2017 2017 2 103,100,852.-- Opposition filed
31.12.2016 2016 1 103,000,000.-- Opposition filed
31.12.2015 2015 1 1,157,470.-- Opposition filed
31.12.2014 2014 1 1,157,057.-- Opposition filed
31.12.2013 2013 1 1,156,644.-- Opposition filed
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 2 2,161,233.-- Opposition filed
31.12.2009 2009 0 Legal
actions
No legal actions
determined.
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.
Sanctions List
We did not find the
company included on the various international sanctions lists, such as the OFAC
(Office of Foreign Assets Control), the BIS (Bureau of Industry and Security),
the European Union Restrictive measures (sanctions) list, the Export Control
Organisation (ECO) of the UK, the Australian Department of Foreign Affairs and
Trade.
Credit Information
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 difficult to assess.
Payment experiences: Slow.
Credit Opinion: In
advancing credit it is advised that a bank guarantee be obtained.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
|
CHF |
1 |
INR 69.24 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.