MIRA INFORM REPORT

Report Date :

13.12.2014

IDENTIFICATION DETAILS

Name :	THERMO FISHER SCIENTIFIC WISSENSCHAFTLICHE GERÄTE GMBH
Formerly Known As :	Thermo Electron Austria wissenschaftliche Geräte GmbH
Registered Office :	Wehlistraße  27b, A-1200 Wien
Country :	Austria
Financials (as on) :	31.12.2013
Date of Incorporation :	04.03.1976
Legal Form :	Limited Liability Company
Line of Business :	· Wholesaler of Orthopaedic Appliances and Medical as well as Surgical Equipment · Engaged in dealer of Laboratory Equipment Subject operates through following divisions:- · Thermo Scientific · Life Technologies · Fisher Scientific · Unity Lab Services
No of Employees :	60 (2014)

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but Correct
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)
Austria	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Austria ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in 2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. The 2012 unemployment rate of 4.3% was the lowest within the EU. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.5% in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international financial crisis of 2008 caused difficulties for Austria's largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria's fiscal position compares favorably with other euro-zone countries, but it faces external risks, such as Austrian banks' continued exposure to Central and Eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity package consisting of a mix of expenditure cuts and new revenues that will bring public finances into balance by 2016. In 2012, the budget deficit rose to 3.1% of GDP.

Source : CIA

Basic company information

Company name:	Thermo Fisher Scientific wissenschaftliche Geräte GmbH
Status:	active company
Locations:	Wehlistraße  27b, A-1200 Wien
Phone:	0043 (1) 3335034
Fax:	0043 (1) 3335034 - 26
E-mail:	info.austria@thermofisher.com
Internet:	http://www.thermofisher.com
Activities:	Önace 46690 50% Wholesale of other machinery and equipment
	Önace 46462 50% Wholesale of orthopaedic appliances and medical as well as surgical equipment Engaged in dealer of Laboratory Equipment
General Assessment:
Probability of Default (Basel II):
comparison:	The Rating of this company is better than industry average.
Recommendation:	In respect to solvency reasons, there is nothing to say against an establishment of a business relationship.
Detail Assessment:	Merchandise is mainly imported. Domestic obligations and invoices of forwarders are settled within net agreements.
	Company's solvency is sufficient. Earnings potential is unsatisfactory.

Additional company information

Year of incorporation:	1976
Activities:
Type of company:	Wholesale and retail trade; repair of motor vehicles
Legal form:	limited liability company since 1976-02-19
companies' house number:	FN 113072 h Wien 1976-03-04
VAT number:	ATU 14187306
number - Austrian National Bank:	435759
Import		Country
Import		China	2014
Import		Switzerland	2014
Import		Great Britain and Northern Ireland / United Kingdom	2014
Import		USA	2014

Export	Country
Export	India	2014
Export	Russian Federation	2014
Export	Eastern Europe	2014
Export	European Union	2014

Financial data

total turnover (total sales)	2013	EUR  86.193.218,10	(exact)
total turnover (total sales)	2012	EUR  79.077.719,52	(exact)
total turnover (total sales)	2011	EUR  67.971.111,41	(exact)
total turnover (total sales)	2010	EUR  61.710.455,44	(exact)
total turnover (total sales)	2009	EUR  42.839.884,22	(exact)
total employees	2014	60	(exact)
white collar workers	2014	55	(exact)
part-time employees	2014	5	(exact)
total company vehicles	2014	40	(exact)
estate cars	2014	40	(exact)

Extraxt from the Companies' House

firm (style):

34 Thermo Fisher Scientific
wissenschaftliche Geräte GmbH

legal form:

1 Gesellschaft mit beschränkter Haftung

registered office:

1 politischer Gemeinde Wien

business adress:

10 Wehlistraße 27b
1200 Wien

capital:

16 EUR 220.000

reference date annual accounts:

1 31. Dezember

annual accounts:

45 zum 31.12.2013 eingereicht am 30.09.2014

power of representation:

1 Die Generalversammlung bestimmt, wenn mehrere Geschäfts-
führer bestellt sind, deren Vertretungsbefugnis.
1 Gesellschaftsvertrag vom 19.02.1976 001
1 Der Gesellschaftsvertrag wurde mehrfach geändert, zuletzt 002
mit Beschluss der Generalversammlung vom 12.03.1993
1 Verschmelzungsvertrag vom 12.02.1993 003
1 Generalversammlungsbeschluss vom 12.02.1993 der 004
FISONS INSTRUMENTS wissenschaftliche
Geräte Gesellschaft m.b.H.
als übertragender Gesellschaft. Verschmelzung mit dieser
Gesellschaft als übernehmender Gesellschaft.
Sitz der übertragenden Gesellschaft in Wien.
1 Generalversammlungsbeschluss vom 12.02.1993 005
Kapitalerhöhung um ATS 2.500.000,-.
Änderung des Gesellschaftsvertrages im Punkt Drittens.
8 Generalversammlungsbeschluss vom 04.12.1996 006
Änderung des Gesellschaftsvertrages in Punkt I.
16 Gesellschaftsvertrag mit Generalversammlungsbeschluss 007
vom 26.06.2002
gemäß 1. Euro-JuBeG angepasst.
16 Generalversammlungsbeschluss vom 26.06.2002 008
Kapitalerhöhung um EUR 1.981,50.
Änderung des Gesellschaftsvertrages im Punkt Drittens.
16 Generalversammlungsbeschluss vom 26.06.2002 009
Änderung des Gesellschaftsvertrages in den Punkten Erstens
und Fünftens.
16 Verschmelzungsvertrag vom 26.06.2002 010
16 Generalversammlungsbeschluss vom 26.06.2002 011
Diese Gesellschaft wurde als
übernehmende Gesellschaft mit der
ThermoQuest wissenschaftliche Geräte
GmbH
(FN 152785 i)
als übertragender Gesellschaft verschmolzen.
Sitz der übertragenden Gesellschaft in Wien.
34 Verschmelzungsvertrag vom 17.09.2008 012
34 Generalversammlungsbeschluss vom 17.09.2008 013
Diese Gesellschaft wurde als
übernehmende Gesellschaft mit der
Spectronex GmbH
(FN 45106 h)
als übertragender Gesellschaft verschmolzen.
Sitz der übertragenden Gesellschaft in Wien.
34 Generalversammlungsbeschluss vom 17.09.2008 014
Änderung des Gesellschaftsvertrages im Punkt Erstens
Absatz 1.
41 Übernahme des Betriebes der 015
Dionex Austria GmbH
(FN 152919 g)
44 Betriebsübergang des Betriebes "Reparatur- und 016
Installationsdienstleistungen und vertriebsunterstützende
Dienstleistungen für die LED- und LCD-Produktlinien"
der Thermo Electron LED GmbH (FN 157559f) auf die
Thermo Fisher Scientific wissenschaftliche Geräte GmbH
(FN 113072h) gemäß § 3 Z 15 FBG

proxy:

H Dr Heinz Steidl, geb. 19.11.1954
28 vertritt seit 07.08.2008 selbständig
O Ing. Günther Sladek, geb. 15.07.1964
24 vertritt seit 09.03.2007 selbständig
T Brigitte Schmidt, geb. 31.12.1976
37 vertritt seit 01.03.2011 selbständig
U Ing. Klaudia Tlachac, geb. 19.01.1969
40 vertritt seit 04.10.2012 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen
V Raja Aurangzeb, MBA, LL.B., geb. 02.09.1979
43 vertritt seit 17.01.2014 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen
W Markus Neustifter, geb. 23.02.1970
43 vertritt seit 17.01.2014 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen
X MMag. Robert Galvan, geb. 25.10.1979
43 vertritt seit 17.01.2014 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen

managing director:

B Charly Marty, geb. 20.06.1941
1 vertritt seit 30.04.1987 selbständig
Q Horst Maglia, geb. 22.08.1968
28 vertritt seit 07.08.2008 selbständig

shareholder:

S Thermo Fisher Scientific (Schweiz) AG
33 ...................... EUR 220.000
33 ................................................. EUR 220.000
-------------------------------------------------------
Summen: EUR 220.000 EUR 220.000

general table:

Handelsgericht Wien
1 datenersterfaßt am 13.08.1994 Geschäftsfall 921 Fr 2042/94 a
Ersterfassung gem. Art. XXIII Abs. 4 FBG
8 eingetragen am 17.01.1997 Geschäftsfall 72 Fr 9342/96 k
Antrag auf Änderung eingelangt am 18.12.1996
9 eingetragen am 15.05.1997 Geschäftsfall 71 Fr 5223/97 f
Berichtigung - Antrag eingelangt am 07.05.1997
10 eingetragen am 07.04.1998 Geschäftsfall 71 Fr 2301/98 t
Antrag auf Änderung eingelangt am 23.03.1998
16 eingetragen am 11.09.2002 Geschäftsfall 75 Fr 9065/02 x
Antrag auf Änderung eingelangt am 09.08.2002
24 eingetragen am 21.03.2007 Geschäftsfall 75 Fr 2501/07 m
Antrag auf Änderung eingelangt am 13.03.2007
27 eingetragen am 18.06.2008 Geschäftsfall 71 Fr 7453/08 z
Antrag auf Änderung eingelangt am 13.06.2008
28 eingetragen am 11.09.2008 Geschäftsfall 71 Fr 11852/08 v
Antrag auf Änderung eingelangt am 03.09.2008
31 eingetragen am 09.10.2008 Geschäftsfall 71 Fr 13438/08 a
Antrag auf Änderung eingelangt am 26.09.2008
33 eingetragen am 15.10.2008 Geschäftsfall 71 Fr 14759/08 v
Antrag auf Änderung eingelangt am 26.09.2008
34 eingetragen am 30.10.2008 Geschäftsfall 71 Fr 13269/08 b
Antrag auf Änderung eingelangt am 25.09.2008
37 eingetragen am 09.03.2011 Geschäftsfall 74 Fr 5367/11 f
Antrag auf Änderung eingelangt am 07.03.2011
40 eingetragen am 23.10.2012 Geschäftsfall 74 Fr 20512/12 k
Antrag auf Änderung eingelangt am 18.10.2012
41 eingetragen am 07.06.2013 Geschäftsfall 74 Fr 8964/13 m
Antrag auf Änderung eingelangt am 05.06.2013
43 eingetragen am 01.03.2014 Geschäftsfall 74 Fr 1814/14 g
Antrag auf Änderung eingelangt am 20.02.2014
44 eingetragen am 17.05.2014 Geschäftsfall 74 Fr 5358/14 v
Antrag auf Änderung eingelangt am 13.05.2014
45 eingetragen am 19.11.2014
Elektronische Einreichung Jahresabschluss eingelangt am 30.09.2014

Real estate

Real estate text:

No real estate property registered

Private data

Surname	Date of birth	Address	Executive positions	Further executive positions (as registered in the companies' house)
Horst Maglia	1968-08-22	1180 Wien Severin Schreibergasse 29-33	manager	2
Charly Marty	1941-06-20	1270 Terlex Ch. du Treizou 17	manager	2
Brigitte Schmidt	1976-12-31	2123 Unterolberndorf Äußere Wiesen 2	individual signing clerk	0
Günther Sladek	1964-07-15	2601 Sollenau Forellengasse 9	individual signing clerk	0
Dr.  Heinz Steidl	1954-11-19	1190 Wien Eichelhofstraße 1	individual signing clerk	2
LL.B. MBA.  Raja Aurangzeb	1979-09-02	1020 Wien Vorgartenstraße 129-143	joint signing clerk	0
MMag.  Robert Galvan	1979-10-25	1140 Wien Mauerbachstraße 48	joint signing clerk	0
Markus Neustifter	1970-02-23	1070 Wien Neustiftgasse 80	joint signing clerk	0
Ing.  Klaudia Tlachac	1969-01-19	3424 Zeiselmauer Brunhildengasse 32	joint signing clerk	0

activty

· Wholesaler of Orthopaedic Appliances and Medical as well as Surgical Equipment

· Engaged in dealer of Laboratory Equipment

Subject operates through following divisions:-

· Thermo Scientific

· Life Technologies

· Fisher Scientific

· Unity Lab Services

Balance Sheet

(absolute) all amounts in EUR 

	2013-12-31
Other intangible assets	348.324,33
Goodwill	2.613.796,52
Sum intangible assets	2.962.120,85
Other operating and business equipment	114.712,78
Sum tangible assets	114.712,78
Sum fixed assets	3.076.833,63
Finished products	1.770.100,88
Sum stock	1.770.100,88
Claims from delivered goods and performed services	22.114.315,01
Claims against related firmes Claims against companies with shareholding relationship	257.296,67
Other claims and assets	2.005.582,29
Sum claims	24.377.193,97
Cash on hand, cheques and bank deposits	13.554.626,77
Sum cash and bank	13.554.626,77
Sum current assets	39.701.921,62
Deferred charges	167.347,01
Sum deferred charges	167.347,01
Assets	42.946.102,26
Subscribed/declared capital	220.000,00
Capital reserves	1.146.707,45
Legal reserves	22.000,00
Other reserves	35.849,02
Balance sheet profit/balance sheet loss	14.135.729,65
Thereof profit/loss carried forward	16.102.925,03
Sum equity capital	15.560.286,12
Reserves for severance pays	831.499,53
Other reserves	2.989.465,89
Sum reserves	3.820.965,42
Received advanced payments for orders	1.620.660,26
Liabilities from delivered goods and performed services	390.648,09
Liabilities against related firms	18.952.334,25
Other liabilities	1.111.958,40
Sum liabilities	22.075.601,00
Deferred income	1.489.249,92
Sum deferred income	1.489.249,92
Liabilities	42.946.102,46
Balance sheet sum	42.946.102,26

P / L Account 

(absolute) all amounts in EUR 

	2013-12-31
Gross sales	86.193.218,10
Total turnover or gross profit	86.193.218,10
Other operating profits	65.904,47
Other operating profits totally	65.904,47
Costs for obtained services	-2.038.719,83
Material costs	-70.040.779,70
Costs for obtained services totally	-72.079.499,53
Salaries	-4.470.110,23
Costs for severance pays	-158.903,80
Legal fringe benefits and other payments depending on salaries	-1.016.680,14
Other social fringe benefits	-36.200,50
Personnel expenses totally	-5.681.894,67
Depreciation of intangible assets, tangible assets,activated expenses for the set up and expansion of business operation	-1.927.884,82
Depreciation tangible assets / intangible assets totally	-1.927.884,82
Other operating costs	-8.536.555,60
Total costs	-8.536.555,60
Operating result totally	-1.966.712,05
Interest income, securties income and similar income	1.351,78
Interest and similar disbursements	-85,11
Financial profits totally	1.266,67
Results from usual business activity totally	-1.965.445,38
Taxes on income and profits	-1.750,00
Taxes on income and profits totally	-1.750,00
Annual surplus/annual deficit totally	-1.967.195,38
Annual profit/annual loss totally	-1.967.195,38
Profit and loss carried forward from previous year	16.102.925,03
Transfer of profits totally	16.102.925,03
B/S profit/ B/S loss from profit and loss account	14.135.729,65

Key ratios

	2013
Cash flow II	-39.310,56
Bank indebtedness	0,00
Equity capital share	37,65
Social capital share	1,93
Fixed assets coverage	532,74
Net profit ratio	-2,28
Capital turnover	2,00
Return on investment	-4,57
Cash flow in % of operating performance	-0,04
Cash flow I	-37.560,56
Gross productivity	15,16
Net productivity	2,48
Operating performance	86.193.218,10
Inventories in % of operating performance	2,05
Gross profit	14.113.718,57

Locations

Type	Locations	Description
		E-mail
operational	Wehlistraße  27b, A-1200 Wien	registered office
operational	Wehlistraße  27b, A-1200 Wien	registered headquarters, rented premises
		info.austria@thermofisher.com
former	Schottenfeldgasse  79, A-1072 Wien	registered office
former	Schottenfeldgasse  79, A-1072 Wien	registered headquarters
former	Rudolfinergasse  2, A-1190 Wien	branch office

related companies

Company name	Postal code	Stake in %	Companies House
Shares in this company are held by:
Thermo Fisher Scientific (Schweiz) AG	Neuhofstraße  11, CH-4153 Reinach	100 % 2008-10-15	CH-270.3.012.954-8
Affiliated companies and further participations:
Robocon Labor- und Industrieroboter Gesellschaft m.b.H. in Liqu.	Wehlistraße  27 b, A-1200 Wien		FN 110591 i
Dionex Austria GmbH	Wehlistraße  27B, A-1200 Wien		FN 152919 g
Fisher Scientific (Austria) GmbH	Wehlistraße  27b, A-1200 Wien		FN 273990 b

Bankers

Banker	Bank sort code	Type of banking connection
UniCredit Bank Austria AG, 1011 Wien	12000	main bank connection

Historical development

Year of incorporation:	1976
Date of registration:	1976-03-04

Change of company name:
From	To	Company name
	2002-09-11	Thermo Optek wissenschaftliche Geräte GmbH
2002-09-11	2008-10-30	Thermo Electron Austria wissenschaftliche Geräte GmbH
2008-10-30		Thermo Fisher Scientific wissenschaftliche Geräte GmbH

Change in share capital:
From	To	Capital
	2002-09-11	ATS  3.000.000,00
2002-09-11		EUR  220.000,00

Former executives:
From	To	Function	Name
1995-10-18	2008-09-11	manager	Dr. Heinz Steidl
2002-12-12	2005-11-23	individual signing clerk	Hermann Katzlinger
2002-12-12	2007-03-21	individual signing clerk	Nina Hanjes
2007-03-21	2008-03-08	individual signing clerk	Andrea Kleinhagauer
1996-12-14	2008-09-11	individual signing clerk	Ing. Peter Bellant
2008-03-08	2008-09-11	individual signing clerk	Nina Hanjes
2008-06-18	2008-09-11	individual signing clerk	Horst Maglia
2007-03-21	2011-03-09	individual signing clerk	Günter Wagner
	1996-12-14	joint signing clerk	Hermann Katzlinger
	1996-12-14	joint signing clerk	Gerold Stattin
	1996-12-14	joint signing clerk	Ing. Peter Tymciw

Former shareholders:
From	To	Function	Name
1994-08-13	2008-10-11	partner	Thermo Fisher Scientific (Eucublens) Ecublens, Schweiz SARL
2008-10-11	2008-10-15	partner	Swiss Analytic Group AG

Mergers:
Date	Function	Name
2008-10-31	merged with	Spectronex GmbH
2002-09-13	merged with	ThermoQuest wissenschaftliche Geräte GmbH

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 :	MNL

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.