Saturday, August 22, 2015

The 12 Non-Financial Switzerland HQ'd Companies Reporting Their Financial Statements in Swiss Francs (CHFs) and With Market Caps Above CHF10 Bil 2014 Total Audited Earnings Down 12% From 2008 ..... 4 Years' 2011-14 Total Audited Earnings of These 12 Down CHF5 Bil From 4 Years' 2007-10 Earnings

From a review of the superb Google Finance Website, the US SEC Website and company investor relations websites, I found 14 Companies headquartered in Switzerland which reported their financial statements in Swiss Franc (CHFs) and with Stock Market Capitalizations of more than CHF10 bil.

Of these 14 Companies, 12 of them were Non-Financial Companies.

How have these 12 done since the 2008-9 worldwide financial meltdown?  Not so well.  Their Total Audited Earnings in 2014 are down 12% from 2008.  And their most recent four years 2011-14 of Total Audited Earnings were CHF5 bil below that of the four years 2007-10.

UBS dominates the 2 Financials reporting in CHFs.  UBS was an unmitigated disaster on the earnings front in the three years 2007-9, reporting Total Audited Losses of nearly CHF 29 bil.  UBS has done much better on the earnings front since 2009, but still for the most recent 8 years combined, it had not Total Earnings but rather Total Audited Losses of more than CHF 11 bil.

Below here are the reported Audited Earnings (Losses) for each of  these 14 large Switzerland Companies reporting in CHFs for all years reported from 2007 through 2014:
2014 2013 2012 2011 2010 2009 2008 2007

Most Audited Audited Audited Audited Audited Audited Audited Audited

Recent Net Net Net Net Net Net Net Net
Swiss HQ'd Companies 2014 Income Income Income Income Income Income Income Income
Reporting in CHFs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

mil CHFs mil CHFs mil CHFs mil CHFs mil CHFs mil CHFs mil CHFs mil CHFs
Non-Financials








Nestle SA Dec14     14,904     10,445     11,060       9,804       9,048       9,551     19,051     11,382
Roche Group Dec14       9,535     11,373       9,773       9,544       8,891       8,510     10,844     11,437
Swisscom Dec14       1,706       1,695       1,815          694       1,788       1,923       1,749       2,069
Holcim Ltd Dec14       1,619       1,596       1,002          682       1,621       1,958       2,226       4,545
Swatch Group SA Dec14       1,416       1,928       1,608       1,276       1,080          763          838       1,015
Schindler Holding AG Dec14          902          463          730          566          679          636          634          278
SGS Societe Generale Dec14          666          638          579          561          614          591          714          520
Kuehne & Nagel Intl AG Dec14          644          607          493          606          605          471          588          539
Actelion Ltd Dec14          594          453          303        (146)          391          311          321          125
Givaudan SA Dec14          563          490          411          252          340          200          112            94
Geberit AG Dec14          499          436          388          384          407          398          466          463
Chocoladefabriken Lindt & Spruengle AG Dec14          343          303          245          247          242          193          262          251










Total of all 12 Non-Financials
    33,391     30,427     28,407     24,470     25,706     25,505     37,805     32,718










Earnings % Increases:








….. 2014 Over 2013
10%






….. 2014 Over 2007
2%















Earnings % Declines








….. 2014 Below 2008
-12%
















Four Year Earnings:








….. 2011-14
  116,695






….. 2007-10
  121,734






………. 4 Year Earnings Decline
    (5,039)
















Financials








UBS Group AG Dec14       3,640       3,381     (2,255)       4,426       7,836     (2,118)   (20,922)     (5,111)
Julias Baer Gruppe AG Dec14          367          188          298          258          353          389             NA              NA  










Total of Both Financials
      4,007       3,569     (1,957)       4,684       8,189     (1,729)   (20,922)     (5,111)










…UBS Four Year Earnings (Losses):








….. 2011-14
      9,192






….. 2007-10
  (20,315)






………. 4 Year Earnings Increase
    29,507
















…UBS 8 Years Losses 2007-14
  (11,123)







Finally, below here is similar earnings data for the 3 Switzerland Companies reporting their financial statements in Euros and with Market Caps above CHF10 bil:
2014 2013 2012 2011 2010 2009 2008 2007

Most Audited Audited Audited Audited Audited Audited Audited Audited

Recent Net Net Net Net Net Net Net Net
Swiss HQ'd Companies 2014 Income Income Income Income Income Income Income Income
Reporting in Euros FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros










Compagnie Financiere Richemont SA Mar15       2,067       2,005       1,540       1,079          603          737          972          790
Adecco SA Dec14          640          558          378          520          424              8          495          735
Lafarge Dec14          274          707          605          244       1,114       1,046       1,939       2,038







           
Total all 3
      2,981       3,270       2,523       1,843       2,141       1,791       3,406       3,563










Earnings % Declines:








….. 2014 Below 2013
-9%






….. 2014 Below 2008
-12%






….. 2014 Below 2007
-16%







Suffice it to say that Switzerland is no Germany, US, Japan, Israel or some of the Northern European countries like Sweden, Denmark, Finland and Belgium when it comes to how its larger companies are doing financially since the 2008-9 worldwide financial meltdown.....and it's not even close.

Next up the United Kingdom ..... it should be interesting.  Because of its complexity, that there are so many UK Companies and that the information is voluminous, it will take a while to get a good handle on it.






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