IFBC was engaged by the VAT Group to review the current structure of currency risk management in line with best practice. The focus of the review was on the determination and analysis of the cashflow-based FX exposures, the identification of measures to reduce FX exposures in the balance sheet affecting the income statement as well as the assessment of the established hedging process.
The VAT Group is a global leader in the development and manufacturing of vacuum valves, multi-valve modules and metal bellows. The Group is listed on the SIX Swiss Exchange since April 2016.
IFBC was mandated to assess and develop a new concept for Rieter’s FX management. The focus was on expected future cash flows from machinery transactions. In addition, IFBC supported Rieter in the introduction of the hedge accounting standard IFRS 9.
Rieter is the world’s leading supplier of systems for short staple fiber spinning. The Winterthur-based company develops and manufactures machines, systems and components for processing natural and synthetic fibres and their blends into yarns.
IFBC was mandated to analyze the current currency management structure of Gregor Furrer & Partner Holding AG and to identify and assess alternative hedging strategies based on the direct and indirect FX exposure.
Gregor Furrer & Partner Holding AG specializes in the import and distribution of the brands Völkl, Uvex, Marker, Descente, Chervó, Dalbello and Vaude.
During the merger negations IFBC supported LafargeHolcim in choosing the new reporting currency. Special considerations have been given to risks and strategic aspects.
LafargeHolcim is a global building material company which was created by the merger of Lafarge and Holcim in 2015.
IFBC supported Alpiq in the modeling of foreign exchange currencies for impairment testing. In consideration of IFRS the main focus was on a correct alignment between the projected cash flows, the cost of capital and the applied exchange rates.
Alpiq is a leading Swiss electricity and energy services provider with a European focus. The company is active in electricity production as well as energy trading and sales.
IFBC was instructed to assess Belimo’s FX management and specific FX aspects as well as to identify potential improvements. Therefore the existing FX risks were analyzed, quantified and assessed. Based on these results the hedging and communication strategy for the FX topics was assessed and specific recommendations for action were elaborated.
Belimo is the global market leader in the development, production and marketing of actuator solutions for controlling heating, ventilation and air conditioning systems.
IFBC was instructed to develop a treasury reporting framework to monitor and control interest rate and refinancing risks within the Aduno Group. In addition, standard reports were prepared for senior management and other decision makers.
The Aduno Group is the leading provider of products and services for cashless payment in Switzerland.
IFBC was instructed to evaluate and support the implementation of a new treasury system. In addition, a new finance and treasury policy was developed, along with the establishment of an integrated treasury risk management system compliant with IFRS requirements. A guideline concept was defined and implemented for the key financial risks identified. IFBC subsequently supported the world-wide roll-out.
Holcim is a global supplier of cement.
IFBC was instructed to review the existing treasury policy framework, treasury organisation, treasury reporting and corresponding accounting processes as part of a standardised treasury check-up. IFBC then identified and prioritised scope for improvement regarding transparency, stability and security within the existing treasury organisation.
Schindler Group is a leading global provider of elevators, escalators and related services.
IFBC was instructed by BKW to analyse whether existing capital had been optimally invested in the past from a risk and return perspective. In addition, IFBC carried out a qualitative and quantitative analysis of the essential treasury value drivers. The final report included an assessment over whether the current treasury of BKW is arranged in an optimal manner as regards future tasks and requirements.
The BKW Group is a leading power supply company in Switzerland.
IFBC was instructed to analyse the statistical behaviour of the different hedging strategies and to evaluate the impact of hedging strategies on parameters relevant within the decision making process. The benefits and drawbacks of potential hedging strategies were analysed and compared with one another in order to provide a solid basis for decisions. Finally, a recommendation was issued.
SIG is a company with global operations in the packaging industry.
IFBC was instructed to develop a group-wide liquidity reporting. In addition, a policy for managing FX risks was created and a flexible tool was implemented for analysing reporting information according to a warehouse-approach.
Alpiq is one of the largest energy companies in Switzerland.