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MIRA INFORM REPORT
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Report No. : |
516064 |
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Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
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Name : |
KROHNE AG |
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Registered Office : |
Uferstrasse 90 4019 Basel/BS /CH |
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Country : |
Switzerland |
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Date of Incorporation : |
1948 |
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Com. Reg. No.: |
270.3.003.118-7 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The company engages in the development, manufacture and distribution of instruments and systems of measurement technology for industries such as oil and gas, water, chemicals, pharmaceuticals, food & beverages, mining and shipping. |
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No. of Employees : |
35-49 |
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 : |
No Complaints |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, 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 economic instability in Russia and other eastern European economies drove 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 through 2017.
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.
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Source
: CIA |
Company
name and address
Krohne
AG
Operating address:
Uferstrasse
90
4019
Basel/BS
Switzerland/CH
Telephone: +41
61 6383030
Fax: +41
61 6383040
Web site: http://www.krohne.ch
E-mail: info@krohne.ch
WIN Worldbox No.: CH0000421229
VAT-No.: CHE-105.815.122 MWST
UID-No.: CHE105815122
Profile
Established: 1948
Line of Business: Measurement and control technology,
Consumer goods wholesale
Industry Division: Manufacturing, Wholesale trade
Industry-code (NACE): 2651 Manufacture
of instruments and appliances for measuring, testing and navigation
4669 Wholesale of other machinery and
equipment
Import/Export: Import,
Export
Banks: Credit
Suisse, 4000 Basel
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2018
Employees: 35-49
Sales: CHF
10-20 Mio
Activity
The company engages in the
development, manufacture and distribution of instruments and systems of
measurement technology for industries such as oil and gas, water, chemicals,
pharmaceuticals, food & beverages, mining and shipping.
Range of products:
- Flow Measurement
- Level Measurement
- Temperature Measurement
- Pressure Measurement
- Analysis Instruments
- Systems
- Gas & Steam Measurement
Operations and Branches:
At the address, Uferstrasse 90,
4057 Basel, Switzerland, we find office of the company.
Real Estate
Real Estate: It is understood that the company owns certain
property.
Company Register
Company No: 270.3.003.118-7
UID-No.: CHE105815122
Legal form: Company limited by shares
Registration: 11.09.1973
Legal status: active
Responsible Register: Handelsregister
des Kantons Basel-Stadt
History: Date
of Statutes: 07.06.1989
Date
of Incorporation Statutes: 27.07.1948
Date
of Statutes: 23.05.2017
Date
of Statutes: 19.11.2008
Date
of Statutes: 11.11.1997
Date
of Statutes: 28.11.1996
Entry Deleted Name
active Krohne
AG
active Krohne
Ltd (Name translated)
active Krohne
SA (Name translated)
Entry Deleted Legal domicile
active Basel,
Switzerland
removed Montagnola, Switzerland
Entry Deleted Address
active Uferstrasse
90, 4057 Basel, Switzerland/CH
Entry Deleted Capital
13.11.1997 Share
Capital CHF 1,200,000, paidup CHF 1,200,000
Entry Deleted Capital
Structure
27.11.2008 1,200
Registered shares of CHF 1,000.--
13.11.1997 27.11.2008 3,000 Registered shares of CHF 100.--
13.11.1997 27.11.2008 900 Registered shares (preferred shares) of
CHF 1,000.--
Entry Deleted Remarks
03.06.2008 Merger:
As per merger agreement date 13.05.2008 did subject matter merge with and
absorb Krohne-Beteiligungs AG based, Basel (CH-270.3.003.125-2).
Official
Administration
Title Name
President Schaub,
Franz Thomas
Citizen:
Sissach, Switzerland
Residential
address: Binningen, Switzerland
joint
signature of two
Registered
since: 25.06.2015
Director Rademacher-Dubbick,
Michael
Citizen: Germany
Residential
address: Duisburg , Germany
single
signature
Registered
since: 17.09.2014
Director Wald,
Ingo
Citizen:
Germany
Residential
address: Krefeld , Germany
joint
signature of two
Registered
since: 12.11.1999
Management
Title Name
Director Hartmann,
Rüdiger
Citizen:
Germany
Residential
address: Kalmthout, Belgium
joint
signature of two
Registered
since: 18.04.2007
Vice-Director Boer,
Adriaan Hendrik
Citizen:
Netherlands
Residential
address: Sliedrecht, Netherlands
joint
signature of two
Registered
since: 09.12.2004
Vice-Director Sturchler,
Léon
Citizen:
France
Residential
address: Folgensbourg , France
joint
signature of two
Member with signing authority Frey,
Harry
Citizen:
Muri AG, Switzerland
Residential
address: 4153 Reinach /BL, Switzerland
joint
signature of two
Registered
since: 18.12.2002
Member with signing authority Frossard,
Serge
Citizen:
Basel, Switzerland
Residential
address: 4000 Basel, Switzerland
joint
signature of two
Registered
since: 18.01.2010
Member with signing authority Hernandez,
Arnaud
Citizen:
France
Residential
address: Kembs , France
joint
signature of two
Registered
since: 03.07.2017
Member with signing authority Madacs,
Marc Stefan
Citizen:
Birsfelden, Switzerland
Residential
address: Muttenz, Switzerland
joint
signature of two
Registered
since: 03.07.2017
Member with procuration Nanetti,
Franck
Citizen:
France
Residential
address: Wegscheid, France
joint
power of attorney of two
Registered
since: 13.12.2000
External
Positions
Title Name
Auditor PricewaterhouseCoopers
AG,
Residential
address: Basel, Switzerland
Id: CHE-393.441.652
Registered
since: 24.12.1998
Ultimate Parent Company
Name: Ludwig
Krohne GmbH & Co Kommanditgesellschaft
City/Country: Duisburg/Nordrhein-Westfalen,
Germany/DE
Direct
owner/-s
No. of owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%,
directly held
Name: Ludwig
Krohne GmbH & Co Kommanditgesellschaft
City/Country: Duisburg/Nordrhein-Westfalen,
Germany/DE
Interest: 100,00%
voting right, 100,00% capital interest
Investments
Class: 100%,
directly held
Name: Exploitatiemaatschappij
Altometer B.V.
City/Country: Dordrecht,
Netherlands/NL
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: Instrumentacion
Industrial Krohne Iberia Sl.
City/Country: ALCALA DE HENARES/MADRID, Spain/ES
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: KROHNE
Australia Pty Ltd
City/Country: NORTH
SYDNEY, Australia/AU
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: Krohne
Gesellschaft m.b.H.
City/Country: Wien,
Austria/AT
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: KROHNE
LIMITED
City/Country: Wellingborough/Wellingborough,
United Kingdom/GB
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: KROHNE
Nederland B.V.
City/Country: Dordrecht,
Netherlands/NL
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: KROHNE
Oil & Gas B.V.
City/Country: Breda,
Netherlands/NL
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%,
directly held
Name: SAS
Krohne
City/Country: France/FR
Interest: 100,00% voting right, 100,00% capital
interest
Class: 50%,
directly held
Name: KROHNE
Italia S.r.l.
City/Country: Mailand/Mailand,
Italy/IT
Interest: 50,00%
voting right, 50,00% capital interest
Sisters
Name: KROHNE
Messtechnik Verwaltungs-GmbH
City/Country: Duisburg/Duisburg,
Germany/DE
Financial
Data Ludwig Krohne GmbH & Co Kommanditgesellschaft
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: th.
EUR th. EUR th. EUR th. EUR th.
EUR
Statement
norm: Local
GAAP Local GAAP
Balance
Sheet
Intangible
fixed assets 2,993.0 4,184.0 4,715.0 5,486.9 6,073.1
Land
and buildings 77,965.0 50,861.0 28,663.0 26,017.4 27,084.7
Other
tangible fixed assets 48,232.0 35,291.0 47,661.0 39,954.1 35,292.6
Tangible
fixed assets 126,197.0 86,152.0 76,324.0 65,971.5 62,377.3
Financial
fixed assets 11,163.0 11,332.0 1,638.0 1,027.5 770.6
other
fixed assets 10,173.0 9,351.0 5,079.0
Fixed assets 150,526.0 111,019.0 87,756.0 72,485.9 69,221.0
Stocks 97,541.0 72,085.0 69,728.0 65,394.5 61,258.8
Trade
accounts receivable 126,024.0 137,261.0 123,076.0 105,959.6 100,325.3
Cash
& Cash Equivalents 48,256.0 59,382.0 50,774.0 59,463.7 50,468.9
Securities 12,282.0 11,657.0 12,613.0 8,718.8 7,029.6
other
trade accounts 34,074.0 32,553.0 30,674.0 35,271.5 33,669.6
Accruals 3,754.0 2,947.0 2,315.0 2,128.1 2,843.5
Other
current assets 98,366.0 106,539.0 96,376.0 105,582.1 94,011.6
Current assets 321,931.0 315,885.0 289,180.0 276,936.2 255,595.7
Total assets 472,457.0 426,904.0 376,936.0 349,422.1 324,816.7
Capital 1,300.0 1,300.0 1,279.0 1,278.2 1,278.2
Other
shareholders funds 203,686.0 207,549.0 188,119.0 159,155.4 143,258.0
Total shareholders equity 204,986.0 208,849.0 189,398.0 160,433.6 144,536.2
Minority
interests -4,402.0 -4,186.0 -3,348.0
long
term debt (financial debts) 42,671.0 11,132.0 14,105.0
Provisions 108,966.0 103,025.0 84,954.0 73,147.2 65,385.0
Other
non current liabilities 3,830.0 310.0 408.0
Non current liabilities 155,467.0 114,467.0 99,467.0 73,147.2 65,385.0
short
term debt (financial debts) 18,511.0 22,343.0 4,739.0 19,587.2 22,954.6
Trade
accounts payable 48,149.0 36,783.0 33,011.0 33,211.0 35,352.5
Provisions 10,883.0
other
accounts payable 38,863.0 48,648.0 53,669.0 63,043.1 56,588.4
other
current liabilities 49,746.0 48,648.0 53,669.0 63,043.1 56,588.4
Current liabilities 116,406.0 107,774.0 91,419.0 115,841.3 114,895.5
Shareh. equity, min. int. &
liabilities 472,457.0 426,904.0 376,936.0 349,422.1 324,816.7
Profit
and loss account
Net
sales 471,214.0 510,801.0 450,395.0 426,231.7 410,992.9
Other operating revenue 19,731.0 14,815.0 15,018.0 8,984.3 8,278.4
Operating
revenue 490,945.0 525,616.0 465,413.0 435,216.0 419,271.3
Cost
of goods sold 270,824.0 285,825.0 246,364.0 230,615.9 224,558.1
Gross
profit 220,121.0 239,791.0 219,049.0 204,600.1 194,713.2
Other
operating expenses 187,652.0 199,834.0 178,224.0 163,443.6 158,108.3
Operating result 32,469.0 39,957.0 40,825.0 41,156.5 36,604.9
Interest revenues 1,011.0 1,079.0 1,267.0 1,125.9 1,044.8
other financial revenues 157.6
Financial
income 1,011.0 1,079.0 1,267.0 1,125.9 1,202.4
Interest
expenses 7,625.0 6,345.0 3,930.0 3,945.3 4,735.6
other
financial expenses 950.0 954.0 954.0
Financial
expenses 8,575.0 7,299.0 4,884.0 3,945.3 4,735.6
Financial
result -7,564.0 -6,220.0 -3,617.0 -2,819.4 -3,533.2
Result before extraordinary items 24,905.0 33,737.0 37,208.0 38,337.1 33,071.7
Extraordinary
expenses 1,080.0 1,080.0 1,080.0 1,080.0
Extraordinary
Result -1,080.0 -1,080.0 -1,080.0 -1,080.0
Result before taxes 24,905.0 32,657.0 36,128.0 37,257.1 31,991.7
Taxes 11,205.0 9,550.0 10,592.0 14,370.8 8,986.8
Result
before minority interests 13,700.0 23,107.0 25,536.0 22,886.3 23,004.9
minority
interests -713.0 -838.0 -706.0
Result for the financial year 14,413.0 23,945.0 26,242.0 22,886.3 23,004.9
Cash
flow
Depreciation 14,148.0 954.4 953.1
Cash
flow 28,561.0 23,840.7 23,958.0
Cash
flow from operating activities 36,302.0 32,677.0 23,378.0
Investments
in tangible fixed assets 53,674.0 13,483.0 10,088.0
Cash
flow from investing activities -49,411.0 -14,190.0 -9,243.0
Cash
flow from financing activities 12,392.0 -8,026.0 -3,942.0
Others -10,409.0 -3,266.0 -1,120.0
Change
in liquidity -11,126.0 7,195.0 9,073.0
Liquidity
at beginning of the year 59,382.0 50,469.0 41,396.0
Liquidity
at end of the year 48,256.0 57,664.0 50,469.0
Notes
Cost
of employees 145,500.0 133,100.0
Research
and Development 32,282.6 32,161.9
Added
value 187,656.8 170,780.4
Working
Capital 138,143.1 126,231.6
Net
Current Assets 205,525.0 208,111.0 197,761.0 161,094.9 140,700.2
Sales
per Employee 128.1 140.3 127.8 131.4 133.4
Gross
cost land and buildings 45,129.2 45,052.6
Gross
cost other tangible fixed assets 92,822.7 83,579.6
Gross
cost total 137,951.9 128,632.2
Employees average 3,678 3,640 3,523 3,245 3,081
Employees
inland 854 832 801 757 696
Employees
abroad 2,824 2,808 2,722 2,488 2,385
Financials
Balance sheet publication:
The subject company does not
publish financial figures.
Legal
Actions
Control date Year No. Amount CHF Status
15.10.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 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
Payment experiences are
considered to be in order.
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: No Complaints
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.17 |
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|
1 |
INR 90.47 |
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Euro |
1 |
INR 79.74 |
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CHF |
1 |
INR 69.24 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.