MIRA INFORM REPORT

 

 

Report Date :

13.12.2014

 

IDENTIFICATION DETAILS

 

Name :

BRUKER BIOSPIN AG

 

 

Registered Office :

Industriestrasse 26, 8117 Fällanden/ZH

 

 

Country :

Switzerland

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

24.06.1965

 

 

Com. Reg. No.:

020.3.924.534-8 / 431763

 

 

Legal Form :

Company Limited By Shares

 

 

Line of Business :

·         Manufacture of instruments and appliances for measuring, testing and navigation

·         Manufacture of irradiation, electro medical and electrotherapeutic equipment

 

 

No of Employees :

500

 

 

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

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 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 come under 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 will have a lasting impact on Switzerland's long history of bank secrecy.

 

Source : CIA

 

Company name & address

 

BRUKER BIOSPIN AG

 

Operating address:

Industriestrasse 26

8117 Fällanden/ZH

Switzerland/CH

 

Telephone:                    044 8259111

Fax:                             044 8259696

 

Web site:                      http://www.bruker.com

E-mail:                         Info.bbio.ch@bruker.com

 

WIN Worldbox No.:        CH0000444189

VAT-No.:                      CHE101138357

 

 

Profile

 

Established:                  1965

Line of Business:           Measurement and control technology, Medical technology

Industry Division:           Manufacturing

Industry-code (NACE):   2651       Manufacture of instruments and appliances for measuring, testing and navigation

                                    2660       Manufacture of irradiation, electro medical and electrotherapeutic equipment

Import/Export:               Import, Export

Quality certification:       ISO 9001:2008

Banks:                         CS Credit Suisse

 

 

Operational Figures

 

Coverage:                     Company

Figures:                        estimated

Financial year:              2014

Employees:                  500

Sales:                          CHF 260,000,000.--

 

 

Activity

 

The company is engaged in the production and sale of scientific devices as well as the planning and construction of research plants and institutes, in particular in the sector of the magnetic resonance.

 

 

Real Estate

 

Real Estate:                  The company owns buildings.

 

 

Company Register

 

Company No:                020.3.924.534-8 / 431763

Legal form:                    Company limited by shares

Registration:                 24.06.1965

Legal status:                 active

Responsible Register:    Handelsregister des Kantons Zürich

History:                        Date of Statutes: 10.04.1981

                                    Date of Statutes: 26.11.2013

                                    Date of Statutes: 13.02.2008

                                    Date of Statutes: 20.12.2007

                                    Date of Statutes: 26.09.2001

                                    Date of Statutes: 16.06.1998

                                    Date of Statutes: 21.03.1997

 

Entry          Deleted      Name

05.10.2001                    Bruker BioSpin AG

                  26.06.1998  Spectrospin AG

26.06.1998  05.10.2001  Bruker AG

 

Entry          Deleted      Legal domicile

active                           Fällanden, Switzerland

 

Entry          Deleted      Address

active                           Industriestrasse 26, 8117 Fällanden, Switzerland/CH

 

Entry          Deleted      Capital

active                           Share Capital CHF 5,000,000, paidup CHF 5,000,000

 

Entry          Deleted      Capital Structure

05.10.2001                    50,000 Registered shares of CHF 100.--

 

 

Official Administration

 

Title                                           Name

President                                    Thomas Bachmann

                                                  Citizen: Buchholterberg, Switzerland

                                                  Residential address: Zollikon, Switzerland

                                                  joint signature of two

                                                  Registered since: 07.01.2014

Director                                       Dr. Werner E. Maas

                                                  Citizen: Netherlands

                                                  Residential address: Merrimac /MA, United States of America

                                                  joint signature of two

                                                  Registered since: 08.07.2008

 

 

Management

 

Title                                           Name

Director                                       Dr. René Jeker

                                                  Citizen: Büsserach, Switzerland

                                                  Residential address: Hombrechtikon, Switzerland

                                                  joint signature of two

                                                  Registered since: 01.10.1997

Director                                       Dr. Rainer Kümmerle

                                                  Citizen: Germany

                                                  Residential address: 8620 Wetzikon /ZH, Switzerland

                                                  joint signature of two

                                                  Registered since: 17.05.2010

Director                                       Stephan Westermann

                                                  Citizen: Germany

                                                  Residential address: Bergneustadt , Germany

                                                  joint signature of two

                                                  Registered since: 23.09.2013

Vice-Director                               Dr. Daniel Eckert

                                                  Citizen: Basel, Switzerland

                                                  Residential address: 8184 Bachenbülach/ZH, Switzerland

                                                  joint signature of two

                                                  Registered since: 17.05.2010

Vice-Director                               Volker Ilg

                                                  Citizen: Germany

                                                  Residential address: Zollikon, Switzerland

                                                  joint signature of two

                                                  Registered since: 23.09.2013

Vice-Director                               Pietro Lendi

                                                  Citizen: Uznach, Switzerland

                                                  Residential address: 8730 Uznach/SG, Switzerland

                                                  joint signature of two

                                                  Registered since: 17.05.2010

Vice-Director                               Remo Lüchinger

                                                  Citizen: Oberriet SG, Switzerland

                                                  Residential address: Zürich, Switzerland

                                                  joint signature of two

                                                  Registered since: 17.05.2010

Member with signing authority       Peter Kistler

                                                  Citizen: Reichenburg, Switzerland

                                                  Residential address: Rapperswil-Jona, Switzerland

                                                  joint signature of two

                                                  Registered since: 07.05.2014

Member with signing authority       Dr. Kurt Schenker

                                                  Citizen: Däniken, Switzerland

                                                  Residential address: Maur, Switzerland

                                                  joint signature of two

                                                  Registered since: 07.05.2014

Member with signing authority       Dr. Peter Scherer

                                                  Citizen: Killwangen, Switzerland

                                                  Residential address: Dübendorf, Switzerland

                                                  joint signature of two

                                                  Registered since: 07.05.2014

Member with signing authority       Urs Widmer

                                                  Citizen: Lindau, Switzerland

                                                  Residential address: Neftenbach, Switzerland

                                                  joint signature of two

                                                  Registered since: 07.05.2014

 

 

External Positions

 

Title                                           Name

Auditor                                        Ernst & Young AG

                                                  Residential address: Zürich, Switzerland

                                                  Id: CHE-491.907.686

                                                  Registered since: 17.11.2000

 

 

Ultimate Parent Company

 

Name:                          Bruker Corporation

City/Country:                 Billerica/Massachusetts, United States of America/US

 

 

Financial Data Bruker Corporation

 

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. USD            th. USD            th. USD            th. USD            th. USD

Statement norm:                                     US-GAAP         US-GAAP

 

Balance Sheet

Intangible fixed assets                                233,000.0          232,900.0         236,600.0          234,400.0           52,400.0

Other tangible fixed assets                         299,500.0          283,600.0

Tangible fixed assets                                 299,500.0          283,600.0         249,000.0          233,700.0         223,400.0

Financial fixed assets                                                                                         0.0                   0.0                   0.0

other fixed assets                                        23,900.0           30,200.0           30,800.0           30,600.0           22,700.0

Fixed assets                                            556,400.0          546,700.0         516,400.0          498,700.0         298,500.0

 

Stocks                                                      589,800.0          611,500.0         576,200.0          511,000.0         422,800.0

Trade accounts receivable                          307,600.0          289,300.0

Liquid assets                                             438,700.0          310,600.0         246,000.0          230,400.0         207,100.0

other trade accounts                                    95,800.0           98,300.0

Other current assets                                  534,500.0          408,900.0

Current assets                                       1,431,900.0       1,309,700.0       1,194,100.0       1,051,100.0         873,500.0

 

Total assets                                           1,988,300.0       1,856,400.0       1,710,500.0       1,549,800.0       1,172,000.0

 

Capital                                                        64,600.0           49,800.0

Other shareholders funds                            781,500.0          656,800.0

Total shareholders equity                        846,100.0          706,600.0         621,500.0          524,700.0         417,200.0

 

Minority interests                                          4,100.0             3,100.0             3,400.0             2,700.0             1,600.0

long term debt (financial debts)                   388,000.0          370,800.0         215,300.0           81,700.0         109,700.0

Provisions                                                                                                  39,200.0           39,400.0           27,700.0

Other non current liabilities                         101,500.0           94,100.0           75,300.0           69,800.0           75,600.0

Non current liabilities                                  489,500.0          464,900.0         329,800.0          190,900.0         213,000.0

short term debt (financial debts)                        700.0             1,300.0

Trade accounts payable                               74,800.0           69,600.0

Accruals                                                   199,600.0          192,800.0

other accounts payable                              373,500.0          418,100.0

other current liabilities                                573,100.0          610,900.0

Current liabilities                                     648,600.0          681,800.0         755,800.0          831,500.0         540,200.0

 

Total liabilities                                      1,988,300.0       1,856,400.0       1,710,500.0       1,549,800.0       1,172,000.0

 

Profit and loss account

Net sales                                               1,830,700.0       1,766,500.0       1,651,700.0       1,304,900.0       1,114,500.0

Other operating revenue                                 8,700.0           24,900.0

Operating revenue                               1,839,400.0       1,791,400.0

 

Cost of goods sold                                  1,034,200.0          962,000.0

Gross profit                                               805,200.0          829,400.0

Other operating expenses                           657,000.0          673,400.0

Operating result                                      148,200.0          156,000.0         156,200.0          156,300.0         137,500.0

 

Interest revenues                                           1,000.0                900.0

other financial revenues                                    900.0             2,500.0

Financial income                                           1,900.0             3,400.0

Interest expenses                                        13,400.0           14,300.0

other financial expenses                               12,100.0             6,800.0

Financial expenses                                      25,500.0           21,100.0

Financial result                                           -23,600.0          -17,700.0

Result before extraordinary items           124,600.0          138,300.0

 

Extraordinary Result                                            0.0                   0.0

Result before taxes                                 124,600.0          138,300.0

 

Taxes                                                         42,800.0           60,100.0

Result before minority interests                     81,800.0           78,200.0

minority interests                                          1,700.0                700.0

Result for the financial year                      80,100.0           77,500.0           92,300.0           95,400.0           81,200.0

 

 

Cash flow

 

Depreciation                                                61,300.0           59,100.0

Cash flow                                                  143,100.0          137,300.0

Cash flow from operating activities               145,000.0          133,100.0

Investments in tangible fixed assets              50,300.0           72,800.0

Cash flow from investing activities                -60,000.0          -93,200.0

Cash flow from financing activities                 26,500.0           34,400.0

Others                                                        16,600.0            -9,700.0

Change in liquidity                                     128,100.0           64,600.0

Liquidity at beginning of the year                 310,600.0          246,000.0

Liquidity at end ot the year                         438,700.0          310,600.0

 

 

Notes

 

Material costs                                         1,034,200.0          962,000.0

Research and Development                        190,500.0          195,300.0

Added value                                              199,300.0          211,700.0

Working Capital                                         822,600.0          831,200.0

Sales per Employee                                         295.3                276.0

Gross cost land and buildings                     336,600.0          305,700.0

Gross cost other tangible fixed assets         362,600.0          337,300.0

Gross cost total                                         699,200.0          643,000.0

 

Full time units at year end                                6,200                6,400

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is foreign owned.

 

Class:                          100%

Type:                            indirect, Group-Level 1

Name:                          Bruker Corporation

City/Country:                 Billerica/Massachusetts, United States of America/US

Interest:                        100,00% voting right, 100,00% capital interest

 

Class:                          100%

Type:                            direct

Name:                          Bruker Invest AG

City/Country:                 Fällanden/ZH, Switzerland/CH

Interest:                        100,00% voting right, 100,00% capital interest

 

 

Sisters

 

Name:                          Bruker BioSpin International AG

City/Country:                 Fällanden/ZH, Switzerland/CH

 

 

Investments

It is believed that the company has no investments.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

04.04.2014          2014                           0

31.12.2013          2013                           0

31.12.2012          2012                           0

31.12.2011          2011                           0

31.12.2010          2010                           0

31.12.2009          2009                           0

 

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.

 

 

Remarks

 

Debt Collection Case:

SEP 2013: CHF 4'042.00.

 

 

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 considered to be good.

 

Payment experiences:   Payment habits are considered good.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.44

UK Pound

1

Rs.98.15

Euro

1

Rs.77.38

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.