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MIRA INFORM REPORT
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Report No. : |
487031 |
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Report Date : |
29.01.2018 |
IDENTIFICATION DETAILS
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Name : |
LINDE KRYOTECHNIK AG |
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Registered Office : |
Dättlikonerstrasse 5, 8422 Pfungen/ZH |
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Country : |
Switzerland |
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Date of Incorporation : |
01.12.1972 |
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Com. Reg. No.: |
020.3.913.326-4 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject is engages in the manufacture and distribution
of cryogenic equipment. The core business consists in the planning, design
and construction of helium and hydrogen liquifiers as well as refrigerators |
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No. of Employees : |
80-149 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
Company
Name And Address
Linde Kryotechnik AG
Operating address:
Dättlikonerstrasse
5
8422 Pfungen/ZH
Switzerland/CH
Telephone: +41
523040555
Fax: +41
523040550
Web site: http://www.linde-kryotechnik.ch
E-mail: info@linde-kryotechnik.ch
WIN Worldbox No.: CH0000097148
VAT-No.: CHE-108.813.384
MWST
UID-No.: CHE108813384
Profile
Established: 1972
Line of Business: Machinery
Industry Division: Manufacturing
Industry-code (NACE): 2899 Manufacture of
other special-purpose machinery n.e.c.
2825 Manufacture of non-domestic cooling and
ventilation equipment
Import/Export: Export
Quality certification: ISO 9001:2008
Banks: CS
Credit Suisse
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 80-149
Sales: CHF
40-60 Mio
Activity
The company engages
in the manufacture and distribution of cryogenic equipment. The core business
consists in the planning, design and construction of helium and hydrogen
liquifiers as well as refrigerators.
Products:
- Helium liquefiers
- Equipment and
accessories
- Helium
refrigeration plants
- Hydrogen
liquefiers
Operations and
Branches:
At the address, Dättlikonerstrasse
5, 8422 Pfungen, Switzerland, we find the company's registered office.
Real Estate
Real Estate: It
is understood that the company owns certain property.
Company Register
Company No: 020.3.913.326-4
UID-No.: CHE108813384
Legal form: Company
limited by shares
Registration: 01.12.1972
Legal status: active
Responsible Register: Handelsregister des Kantons Zürich
History: Date
of Statutes: 30.06.1989
Date
of Statutes: 24.06.2002
Date
of Statutes: 28.05.1997
Date
of Statutes: 21.10.1992
Date
of Statutes: 15.06.1992
Entry Deleted Name
30.06.1992 Linde
Kryotechnik AG
30.06.1992 Industrial Project Consultants AG
Entry Deleted Legal domicile
03.11.1992 Pfungen,
Switzerland
removed Dietlikon, Switzerland
removed Dübendorf, Switzerland
removed Zürich, Switzerland
30.06.1992 Dietlikon, Switzerland
30.06.1992 03.11.1992 Winterthur, Switzerland
Entry Deleted Address
03.11.1992 Dättlikonerstrasse
5, 8422 Pfungen, Switzerland/CH
30.06.1992 c/o Linde Lansing Fördertechnik AG, Alte
Dübendorferstrasse 13, 8305 Dietlikon/ZH, Switzerland/CH
30.06.1992 03.11.1992 Zürcherstrasse 12, 8400 Winterthur/ZH,
Switzerland/CH
Entry Deleted Capital
30.06.1992 Share
Capital CHF 3,000,000, paidup CHF 3,000,000
Entry Deleted Capital Structure
30.06.1992 3,000
Registered shares of CHF 1,000.--
Official Administration
Title Name
President van
der Velden, Johannes Jan Cornelis
Citizen:
Netherlands
Residential
address: München , Germany
joint
signature of two
Registered
since: 04.01.2016
Chief Executive Krieger,
Robert
Citizen:
Germany
Residential
address: Luzern, Switzerland
single
signature
Registered
since: 12.06.2012
Director Nowicki,
Jürgen
Citizen:
Germany
Residential
address: Oberhaching , Germany
joint
signature of two
Registered
since: 12.06.2012
Management
Title Name
General Manager Ohlig,
Klaus
Citizen:
Germany
Residential
address: Seuzach, Switzerland
joint
signature of two
Registered
since: 29.06.2009
Member with procuration Adler, Ernst
Citizen:
Zürich, Switzerland
Residential
address: 8162 Steinmaur/ZH, Switzerland
joint
power of attorney of two
Registered
since: 18.01.2010
Member with procuration Blum, Lars
Citizen:
Saanen, Switzerland
Residential
address: Thalheim an der Thur, Switzerland
joint
power of attorney of two
Registered
since: 12.06.2012
Member with procuration Kneubühler, Thomas
Citizen:
Affoltern im Emmental, Switzerland
Residential
address: Dietikon, Switzerland
joint
power of attorney of two
Registered
since: 12.06.2012
Member with procuration Rüegge, Andreas
Citizen:
Frick, Switzerland
Residential
address: Hettlingen, Switzerland
joint
power of attorney of two
Registered
since: 04.01.2016
External Positions
Title Name
Auditor KPMG
AG,
Residential
address: Zürich, Switzerland
Id:
CHE-106.084.881
Registered
since: 25.04.1995
Ultimate Parent Company
Name: Linde
Aktiengesellschaft
City/Country: München/Bayern, Germany/DE
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%,
directly held
Name: Linde
Holding AG
City/Country: Dagmersellen/LU,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Investments
It is believed that
the company has no investments.
Sisters
Name: Arboliana
Holding AG
City/Country: Pfungen/ZH,
Switzerland/CH
Name: Linde Material
Handling Schweiz AG
City/Country: Dietlikon/ZH,
Switzerland/CH
Financial Data Linde
Aktiengesellschaft
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2016 31.12.2015 31.12.2014 31.12.2013 31.12.2012
Number of months: 12 12 12 12 12
Currency: mil.
EUR mil. EUR mil. EUR mil. EUR mil.
EUR
Balance Sheet
Intangible fixed assets 13,845.0 14,364.0 13,977.0 13,471.0 14,200.0
Land and buildings 1,515.0 1,611.0 1,576.0
Other tangible fixed assets 11,241.0 12,782.0 10,540.0 9,808.0
Tangible fixed assets 12,756.0 12,782.0 12,151.0 11,384.0 10,188.0
Financial fixed assets 475.0 516.0 325.0 606.0 1,342.0
other fixed assets 887.0 764.0 1,109.0 1,055.0 1,065.0
Fixed assets 27,963.0 28,426.0 27,562.0 26,516.0 26,795.0
Stocks 1,231.0 1,241.0 1,155.0 1,088.0 1,098.0
Trade accounts receivable 2,755.0 2,724.0 3,061.0 2,784.0 2,599.0
Cash & Cash Equivalents 1,463.0 1,417.0 1,137.0 1,178.0 1,218.0
Securities 131.0 421.0 521.0 220.0 823.0
other trade accounts 1,646.0 1,118.0 989.0 963.0 944.0
Other current assets 3,240.0 2,956.0 2,647.0 2,361.0 2,985.0
Current assets 7,226.0 6,921.0 6,863.0 6,233.0 6,682.0
Total assets 35,189.0 35,347.0 34,425.0 32,749.0 33,477.0
Capital 475.0 475.0 475.0 475.0 474.0
Other shareholders funds 14,102.0 14,103.0 12,931.0 12,291.0 12,620.0
Total shareholders equity 14,577.0 14,578.0 13,406.0 12,766.0 13,094.0
Minority interests 903.0 871.0 861.0 820.0 564.0
long term debt (financial debts) 6,727.0 10,213.0 8,613.0 8,472.0 8,918.0
Provisions 3,773.0 1,598.0 1,265.0 1,484.0 1,576.0
Other non current liabilities 726.0 902.0 2,868.0 2,370.0 2,514.0
Non current liabilities 11,226.0 12,713.0 12,746.0 12,326.0 13,008.0
short term debt (financial debts) 1,875.0 1,023.0 1,317.0 1,183.0 1,286.0
Trade accounts payable 3,570.0 3,223.0 3,485.0 3,100.0 2,790.0
Provisions 1,140.0 1,089.0 1,012.0 897.0 1,565.0
other accounts payable 1,898.0 1,850.0 1,598.0 1,657.0 1,170.0
other current liabilities 3,038.0 2,939.0 2,610.0 2,554.0 2,735.0
Current liabilities 8,483.0 7,185.0 7,412.0 6,837.0 6,811.0
Shareh. equity, min. int. & liabilities 35,189.0 35,347.0 34,425.0 32,749.0 33,477.0
Profit and loss account
Sales 16,948.0 17,944.0 17,047.0 16,655.0 15,280.0
Net sales 16,948.0 17,944.0 17,047.0 16,655.0 15,280.0
Other operating revenue 467.0 2,476.0 486.0 279.0 288.0
Operating revenue 17,415.0 20,420.0 17,533.0 16,934.0 15,568.0
Cost of goods sold 10,847.0 11,575.0 11,297.0 10,642.0 9,755.0
Gross profit 6,568.0 8,845.0 6,236.0 6,292.0 5,813.0
Other operating expenses 4,506.0 6,802.0 4,373.0 4,138.0 3,913.0
Operating result 2,062.0 2,043.0 1,863.0 2,154.0 1,900.0
Interest revenues 29.0 13.0 10.0
other financial revenues 13.0 42.0 206.0 222.0 446.0
Financial income 42.0 42.0 219.0 232.0 446.0
Interest expenses 353.0 30.0 36.0
other financial expenses 439.0 385.0 1,557.0 976.0
Financial expenses 353.0 439.0 415.0 1,593.0 976.0
Financial result -311.0 -397.0 -196.0 -1,361.0 -530.0
Result before extraordinary items 1,751.0 1,646.0 1,667.0 793.0 1,370.0
Extraordinary Result 0.0
Result before taxes 1,751.0 1,646.0 1,667.0 793.0 1,370.0
Taxes 476.0 394.0 358.0 364.0 363.0
Result before minority interests 1,275.0 1,252.0 1,309.0 429.0 1,007.0
minority interests 121.0 103.0 124.0 63.0 54.0
Result for the financial year 1,154.0 1,149.0 1,185.0 366.0 953.0
Cash flow
Depreciation 1,905.0 252.0 1,969.0 1,795.0 1,538.0
Cash flow 3,059.0 3,278.0 2,224.0 2,545.0
Cash flow from operating activities 3,440.0 3,001.0 3,144.0 2,522.0
Cash flow from investing activities -1,491.0 -2,063.0 -1,524.0 -3,813.0
Cash flow from financing activities -1,917.0 -1,002.0 -1,675.0 1,516.0
Others 14.0 23.0 -51.0 -7.0
Change in liquidity 46.0 -41.0 -106.0 218.0
Liquidity at beginning of the year 1,417.0 1,178.0 1,284.0 1,000.0
Liquidity at end of the year 1,463.0 1,137.0 1,178.0 1,218.0
Notes
Research and
Development 106.0 92.0
Orders received 101.0
Added value 3,666.0 2,624.0 2,908.0
Working Capital 731.0 772.0 907.0
Net Current Assets -1,257.0 -264.0 -549.0 -604.0 -129.0
Sales per Employee 0.3
Market capitalisation 28,625.0
Gross cost land and buildings 3,017.0 2,919.0
Gross cost other tangible fixed assets 26,779.0 24,452.0
Gross cost total 29,796.0 27,371.0
Employees
average 52,907 52,395 65,591
Financials
Balance sheet
publication:
The subject company
does not publish balance sheet or turnover figures.
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.
Payment experiences
Slow but Correct
Remarks
Based on the
positive financial situation of the ultimate parent company, we deem stated
credit as acceptable.
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 in order.
Payment experiences: Slow but Correct.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.50 |
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1 |
INR 90.92 |
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Euro |
1 |
INR 79.07 |
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CHF |
1 |
INR 68.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.