3

05 Preface

06 Our philosophy

08 Company locations

10 Corporate structure

12 INTEGRA Immobilien

16 INTEGRA Metering

20 INTEGRA Biosciences

24 Aquametro Oil & Marine

28 SIGNAL

32 SITEK

36 INTEGRA Engineering

40 Micronic

42 INTEGRA Holding

Balance sheet and income

statement

44 INTEGRA Group

Balance sheet and income

statement

46 Report of the

statutory auditors

48 Facts and figures

4 5

Adrian Oehler

President INTEGRA Holding AG

Review of the 2017 financial yearIntegra Holding AG is an associate company,

at least 80% of which is owned by the ORGU

Stiftung (ORGU Foundation) in Sarnen.

As the executive body of the ORGU Stiftung, it

is the function of Integra Holding AG to actively

and with foresight continue developing the com-

panies of the Integra Group while maintaining

the purpose of the foundation.

2017 was both a very positive and a very chal-

lenging financial year for the Integra Group. The

Integra Biosciences Group, Signal Group as well

as Integra Engineering India ended the financial

year with record results. The business of Sitek,

which simultaneously completed

the production of its new plant, developed

successfully as well.

Integra Immobilien AG can look back on a stable

operating performance, whereby the activities

on a superordinate level were strongly shaped

by the finalisation of the design plans for Wil

and Wallisellen. The revised design plan for Wal-

lisellen was approved by the municipal assembly

on 6 December, which lays the foundation for a

successful, long-term further development of

the premises in Wallisellen.

Last year, we fundamentally restructured

the Aquametro Group. As of 1 July 2017,

the activities of the Oil and Marine division

were transferred to an independent company –

Aquametro Oil & Marine AG. Which achieved a

successful financial result right away.

The water and energy business was merged with

the French company Yzatec SAS and reposi-

tioned to form Integra Metering AG. While the

sales units will remain on the market using the

name Aquametro, Integra Metering focuses on

the development and production of innovative

ultrasonic meters. The extremely challenging

reorganisation was able to be completed suc-

cessfully without resulting in delivery interrup-

tions or similar limitations. That means that

the first phase of this reorganisation can be

considered a success.

Without committed and motivated teams

across all levels, it would be impossible to

continue developing a group of companies

like Integra; all of you deserve my heartfelt

gratitude for your extraordinary work.

6 7

Our roots are in SwitzerlandWe preserve values

The Integra Group is a future-oriented company

with roots in Switzerland. The activities of

Integra date back to the 1930s. The goal of

founder Adolf Gutzwiller was to independently

promote industries important to the autonomy of

Switzerland. In line with the goals of the founder,

and on behalf of the ORGU Foundation, Integra

Holding AG preserves and develops the holdings

of the Group. We want to continuously keep

developing the existing business units real estate,

energy measurement technology, laboratory

equipment, transport technology, fuel measure-

ment and marine products as well as contract

manufacturing, independently of each other. In

addition to preserving industry in Switzerland,

we also want to increasingly grow abroad. We

also invest in additional majority stakes in

promising and technology-driven production

companies in our business areas.

We share a vision

In line with our financial and organisational

resources, we want to grow sustainably – finan-

cially as well as with regard to personnel and our

geographic presence – and with above-average

profitability through targeted investments

in new, future-oriented products and growth

markets. Our properties in Switzerland form the

stable counterweight of our portfolio.

Our mission is innovation

The promotion of innovation is our passion. But

we still want to always remain independent.

Through the future-oriented and sustainable

growth of the companies of the Integra Group

– in Switzerland as well as abroad – we want to

create jobs and generate value in order to benefit

all of our stakeholders.

Our management principles

We make sustainable, long-term decisions. Future-

oriented decisions are made in line with the goals

of the founder of the Integra Group – because

the successful, long-term existence and the

independence of the Group will always be our top

priority. In the process, we take care of our social

environment and natural resources.

We display entrepreneurial courage but are also

very much aware of risks

Our actions are guided by entrepreneurship, we

seize opportunities, act quickly and decisively but

also carefully weigh risks. Stability and sustaina-

bility are more important than quick, short-term

growth.

We act with integrity and show solidarity

When dealing with our surroundings, our actions

are characterised by integrity, honesty, diligence

and fairness. We value our employees and treat

each other fairly.

We are innovative and always seek to improve

We actively question the status quo and are

always looking to improve. We dare to be open.

Our company, and the thinking of our employees,

are characterised by innovation.

We are success and performance-oriented

Our management is tough yet fair. Performance

counts. We are an attractive employer because

we do not just challenge employees, we also

foster their development. Corporate goals are

more important than personal goals.

8 9

INTEGRA Holding AG Wallisellen (CH)

INTEGRA Immobilien AG Wallisellen (CH)

INTEGRA Metering

INTEGRA Metering AG, Therwil (CH)

INTEGRA Metering SAS, Blagnac (F)

Aquametro AG, Therwil (CH)

Aquametro Messtechnik GmbH, Bremen (D)

Aquametro Belgium Sprl.,Sterrebeek (B)

Aquametro ME JLT, Dubai (UAE)

Aquacool Metering L.L.C., Dubai (UAE)

bill24 AG, Therwil (CH)

A global success story

INTEGRA Biosciences

INTEGRA Biosciences AG, Zizers (CH)

INTEGRA Biosciences Deutschland GmbH, Biebertal (D)

INTEGRA Biosciences SAS, Cergy-Pontoise Cedex (F)

INTEGRA Biosciences Ltd., Egham, Surrey (GB)

INTEGRA Biosciences Corp., Hudson, NH (USA)

AQUAMETRO Oil & Marine

Aquametro Oil & Marine AG, Therwil (CH)

Aquametro Oil & Marine GmbH, Rostock-Warnemünde (D)

Aquametro Oil & Marine Korea Ltd., Busan (KOR)

Aquametro Oil & Marine (S.E.A.) Pte Ltd., Singapore (SGP)

Aquametro Oil & Marine (China) Pte. Ltd, Shanghai (CHN)

Aquametro ME JLT, Dubai (UAE)

Aquametro Oil & Marine, Mumbai (IND)

Aquametro Oil & Marine, Tokyo (J)

SIGNAL

Signal AG, Büren a. A. (CH)

Segnaletica Mordasini SA, Giubiasco (CH)

SITEK AG, Bettlach (CH)

INTEGRA Engineering India Ltd., Halol (IND)

Micronic Holding B.V., Lelystad (NL)

10 11

Corporate structureINTEGRA Holding AG

Board of Directors

Adrian Oehler, President

Heinrich M. Lanz, Vice President

Hans C. Bodmer

Fritz Hauff (until June 2018)

Clemens Ruckstuhl

Martin Folini

CEO

Adrian Oehler

INTEGRA Immobilien AG INTEGRA Metering AG INTEGRA Biosciences

Holding AG

Aquametro Oil & Marine AG SIGNAL AG SITEK AG INTEGRA Engineering

India Ltd.

Micronic B.V.

Board of Directors

Adrian Oehler, President

Franz Haudenschild

Clemens Ruckstuhl

Dominik Weber

CEO

Adrian Oehler

Board of Directors

Adrian Oehler, President

Roger Baumer

Heinrich M. Lanz

Elmar Morscher

Alain Ramond

Fernando Moreira

CEO

Lorenzo Giarré a.i. (until May 2018)

Oliver Jud (as of June 2018)

Board of Directors

Adrian Oehler, President

Gary Nelson, Vice President

Philip Bodmer

Elmar Morscher

Prof. Dr. Roger Nitsch

John Warren

CEO

Elmar Morscher

Board of Directors

Adrian Oehler, President

Fritz Hauff

Corinne Ruckstuhl

CEO

Fritz Hauff

Board of Directors

Adrian Oehler, President

Fritz Hauff (until March 2018)

Martin Lenz

Heinrich M. Lanz

Hans Peter Klauser

Monika Kruesi

Ernst Moser (as of March 2018)

CEO

Ernst Moser

Board of Directors

Fritz Hauff, President

(until March 2018)

Corinne Ruckstuhl, President

(as of March 2018)

Werner Gertsch

Clemens Ruckstuhl

CEO

Thomas Teuscher

Board of Directors

Corinne Ruckstuhl, President

Adrian Oehler

Rahul G. Divan

Shalin Divatia

Bhargav Patel

Mahendra Sanghvi

CEO

Utkarsh Pundlik

Board of Directors

Gerrit van der Gaarg, President

Gjisbert van der Gaarg

Adrian Oehler

CEO

Gjisbert van der Gaarg

Holdings Holdings Holdings Holdings Holdings

Integra Metering SAS

(Blagnac)

Integra Biosciences AG

(Zizers)

Aquametro Oli & Marine

GmbH (Rostock)

Segnaletica Mordasini SA

(Sementina)

Integra Systems Private Ltd.

(Halol)

Aquametro AG (Therwil) Integra Biosciences Corp.

(Hudson NH, USA)

Aquametro Oli & Marine

Korea Ltd. (Busan)

Aquametro GmbH (Bremen) Integra Biosciences SAS

(Cergy-Pontoise Cedex)

Aquametro Oli & Marine

(China) PTE Ltd. (Shanghai)

Aquametro Sprl. (Sterrebeek) Integra Biosciences Ltd.

(Surrey)

Aquametro Oli & Marine

(SEA) PTE Ltd. (Singapore)

Aquametro ME JLT (Dubai) Integra Biosciences GmbH

(Biebertal)

bill24 AG (Therwil)

Aquacool Metering L.L.C.

(Dubai)

12 13

The development of the plots in Wil and Wallisellen is progressingIntegra Immobilien AG was founded in 1939 as Corbawa AG. Initially, the company

was entrusted with financing the real estate of the Integra Group. In 1987, Inte-

gra Immobilien AG took over the management of the properties of the pension fund

of Integra Holding and began the development, construction and letting of its own

real estate. In addition, it owns and manages the Swiss head offices of the holdings

of Integra Holding. With the conversion of the industrial area south of the railway

station of Wallisellen, the entrepreneurial direction of Integra Immobilien AG has

changed significantly since 2002. With the development of the Integra Squares in

Wallisellen, the focus of the company shifted more toward letting to third parties.

14 15

Comment on the reporting year

2017 was once again a successful financial year for Integra Immo-

bilien AG. An income of approx. CHF 14.5 million was generated,

which is slightly down compared to the previous year as a result of

the sale of the Corgémont property and people moving out of the

old buildings in Wil. The operating profit II of nearly CHF 11.4 mil-

lion is comparable to that of the previous year. At Integra Square

in Wallisellen, all residential and commercial areas were complete-

ly let all year long. As a replacement of the Migrolino branch, a

new commercial tenant – the Steiner bakery – was found.

The renovation of the property in Therwil on behalf of the Integra

Metering Group was successfully completed at the end of 2017.

Also in 2017, the new premises of Sitek AG in Grenchen were

constructed and completed as scheduled at the end of the year.

In addition, the expansion building on the premises of Integra Bi-

osciences in Zizers, which will double the available space, was

designed during the reporting year. Construction of the new build-

ing is supposed to begin in early 2018 and it is scheduled to be

occupied in early 2019. The Integra Immobilien AG team currently

consists of 7 employees.

Outlook

In recent years, Integra Immobilien AG has developed into a

strong real estate company within the Integra Group. Its goal is

to always sustainably and predictably strengthen profits and the

investment portfolio. In order to further reduce the dependence

on industry and commerce, Integra Immobilien AG plans additional

investments in residential properties in good locations. Using

project developments in the Wil und Wallisellen areas, these

investments are supposed to focus primarily on residential areas

with sustainable returns and long-term upside potential. In this

context, the project Wil with approx. 200 flats and the further

phases at the Wallisellen location are supposed to be completed in

the coming years. In addition to the new building in Grenchen, var-

ious renovation, repair and maintenance projects at the different

properties of Integra Immobilien AG were tackled and completed

in the reporting year. Through periodic renovations, the flats

continue to be adapted to the needs of the residents, which also

preserves the ability to let them again if renters move out.

INTEGRA Immobilien AG

Hammerweg 1, 8304 Wallisellen, Switzerland

Tel. +41 43 233 30 20 | Fax +41 43 233 30 21

info@integra-immobilien.ch | www.integra-immobilien.ch

INTEGRASquare Wil

Due to its proximity to the railway station, the old town, and

the motorway connection, the industrial site, which Integra Im-

mobilien AG has owned since 1937, is supposed to be used for

residential development. This plot of land near the city centre is

a strategically important urban development area of the city of

Wil. A planning consortium was formed with the owners of the 13

properties in order to jointly develop, in a pioneering manner, this

approx. 36,000 m² area with regard to urban development. The

corresponding reconstruction/design plan process, as well as the

restrictions imposed by the local authorities, had been success-

fully completed in 2017. The approval from cantonal authorities is

expected in 2018. In the initial phase, four building complexes with

about 200 flats are supposed to be designed and built. The beat

and rhythm of the division of facades, as well as its depth percep-

tion in the areas of the balconies, are meant to be trailblazing with

regard to urban development. The renaturation of the Krebsbach,

a local creek that currently still runs underground, is supposed to

ensure a nature-oriented and cosy exterior design.

INTEGRASquare Wallisellen

Initiated by the historical protection of the Hammerweg 8 build-

ing, Integra Immobilien AG – in coordination with the respective

authorities – conducted a feasibility study. The resulting revision

of the design plan was examined by the authorities in the report-

ing year and approved by the municipal assembly on 6 Decem-

ber 2017. It is anticipated that the revised design plan will enter

into legal force in 2018. The Integra plot of land covers approx.

40,000 m². This allows the desired density concept to continue

to be pursued, which allows the area's industrial and commercial

uses to be preserved. As part of this future-oriented spatial pro-

gramme, a new educational institution, up to 400 attractive flats

(when construction is completed), as well as various commercial

and office buildings will be designed and constructed.

IN T EGR A SQUA R E W IL NE A R S T. G A L L EN

Our goal is to sustainably and predictably strengthen profits and the investment portfolio

16 17

We are oriented toward the future needs of our customersIntegra Metering was created in October 2017 through the merger of Aquametro AG,

a Swiss leader in the development, production and sale of flow meters and energy

meters that was founded in Basel in 1928, and the French technology company

Yzatec SAS, which has developed and produced smart irrigation and portable water

meters with large diameters based on in-house ultrasonic sensors since 2010. With

complementary competencies in the field of smart metering, the two companies

are a great fit for each other. This provides Integra Metering AG with a technology,

product and services portfolio that is oriented toward the future needs of customers.

This merger also forms the basis for a realignment of the Group strategy in the

area of water and energy metering.

18 19

Comment on the reporting year

As was to be expected, the strategic realignment and focus on the

water and energy business have greatly influenced the 2017 finan-

cial year. The development of incoming orders and turnover was

positive in the second half of the year, whereby the gross margin

suffered due to a shift of the product mix toward trade products.

The new management has undertaken multiple organisational and

process-related changes with the goal of increasing the market

presence while tightening product costs and reducing operating

expenses. The result of these adjustments was that the oper-

ating business continued to be profitable in spite of the reduced

turnover consecutive to the carve-out. In the 2017 financial year,

159 employees achieved a Group operating income of a little more

than CHF 37 million.

Outlook

Integra Metering AG is about to make large investments in the de-

velopment of a future-oriented product range. Together with the

focus of the sales organisation on key segments and customers,

they form a foundation for future turnover. The new strategic ori-

entation will be strengthened next year. However, its full, positive

effect on the result is only expected to be felt the following year.

INTEGRA Metering AG

Ringstrasse 75, 4106 Therwil, Switzerland

Tel. +41 61 725 11 11 | Fax +41 61 725 11 11

info@integra-metering.com | www.integra-metering.com

INTEGRA Metering SAS

12 rue Font Grasse, 31700 Blagnac, France

Tel. +33 5 61 11 23 56

Aquametro AG

Ringstrasse 75, 4106 Therwil, Switzerland

Tel. +41 61 725 11 22 | Fax +41 61 725 11 95

info@aquametro.com | www.aquametro.com

Aquametro Messtechnik GmbH

Kurt-Schumacher-Allee 2, 28329 Bremen, Germany

Tel. +49 421 871 64-0 | Fax +49 421 871 64-19

info.amd@aquametro.com

Aquametro Belgium Sprl.

Dallaan 67, 1933 Sterrebeek, Belgium

Tel. +32 2 241 62 01 | Fax +32 2 216 22 63

info.amb@aquametro.com

Aquametro ME JLT

Jumeirah Lake Towers, Jumeirah Bay X3, office 1807,

P.O.Box 334132, Dubai, UAE

Tel. +971 56 7587 801 | info.amme@aquametro.com

Aquacool Metering L.L.C.

598-640, DIP 1, Opposite Green Community, DIP, Dubai, UAE

Tel.+971 4600 560136 | info@aquacool.me | www.aquacool.me

bill24 AG

Ringstrasse 75, 4106 Therwil, Switzerland

Tel. +41 43 495 57 63 | info@bill24.ch | www.bill24.ch

The sales and service organisations in Switzerland and Germany

continue to operate under the well-known and established

companies “Aquametro AG” and “Aquametro Messtechnik GmbH”.

These Integra Metering subsidiaries focus on providing support

and services to their customers with an expanded product and

services portfolio. The oil and marine business of Aquametro AG

was transferred to a new company within  Integra Holding as of

1 July 2017 — Aquametro Oil & Marine AG.

Integra Metering AG focuses on the development, production and

sale of water and energy meters (heating/cooling), as well as data

management systems for measuring consumption in the area of

water and energy supply. The target audience of the company in-

cludes water suppliers, energy providers, public utilities as well as

property managements and building operators. With innovative

and future-oriented solutions, customers and business partners

will be supported from measurement data acquisition and data

management to the integration into control and analysis systems.

Future-oriented innovations

With the AMFLO Sonic Smart, Integra Metering has introduced in

2017 a compact high-end flow meter with integrated electronics.

It is perfectly suited for use in district heating and building auto-

mation applications. The unique ultrasonic “freeflow” technology

features very low pressure loss and starting flow. The battery-op-

erated AMFLO Sonic Smart allows for real-time remote data

reading with state-of-the-art communication standards.

Calibration and Certification

Integra Metering has been an authorised Swiss verification body

of METAS in Bern since 1986, as well as a verification office for

Germany under the supervision of the verification authority in

Stuttgart and is therefore able to offer its customers in Germany

and Switzerland calibrated measuring instruments. In addi-

tion, Integra Metering AG maintains an independent calibration

laboratory – accredited across Europe – for heat, water and oil

in accordance with ISO / IEC 17025. Integra Metering AG owns

one of the few cold water test stands that are able to test volume

measuring meters with a nominal diameter of 250 mm and a

maximum flow rate of 1,200 m³⁄h. The scope of services includes

a SCS0077 calibration laboratory (Swiss Calibration Service) and

a T02 verification body.

We invest in the development of a future-oriented product rangeA MF LO SONIC SM A RT:

UNIQUE ULT R A SONIC “F R EEF LO W ” T ECHNOLOG Y

20 21

Our products are used worldwide in countless laboratoriesIntegra Biosciences was founded in Zurich in 1965 as a trading company for laboratory

equipment. In recent years, the company has developed into a leading international

manufacturer of high-quality laboratory instruments for the precise dosing of

liquids and the sterilisation of culture media. The head office of the Group is in

Zizers (CH), where all electromechanical devices and systems are developed and

manufactured. The development and production of all consumables takes place at

the company location in the United States. In the US, Germany, France, England

and Switzerland, the products are sold to end customers by a direct sales force. In

China, Integra sales staff supports local dealers. In all other countries, a network of

more than 100 independent distribution partners sells the Integra products. These

products are used worldwide in countless life science industry laboratories and enjoy

an outstanding reputation. They are used for researching pharmaceuticals, in the

medical diagnostics sector as well as in the area of quality assurance in the food and

cosmetics industries.

22 23

Remark on the reporting year

2017 was another very successful year for the Integra Biosciences

Group. The Group’s turnover grew to approx. CHF 45 million That

is an increase of 11 % compared to the previous year. At the same

time, the operating profit II rose to CHF 3.6 million North America

is the top sales region with CHF 23.5 million Even on this high level

of turnover, it grew by an additional 13 % compared to the previous

year. Europe was up by an outstanding 16 % and contributed

CHF 15.7 million to the Group’s turnover. This growth was primarily

the result of the very pleasant development of direct Integra sales

organisations in Germany, France and Switzerland. The Asia/

Pacific region posted a turnover of CHF 4.3 million, which equals a

growth of 4 %. The sales organisations in the two most important

Asian markets – China and Japan – are currently being reorganised

so that the growth potential of these regions can be better real-

ised. All strategically important products have contributed to this

outstanding result. The largest growth was realised by electronic

pipettes with associated consumables.

In the reporting year, the staff number grew from 180 to 199 full-

time employees. On the one hand, the number of employees in

research and development as well as in product management was

increased to accelerate innovation. On the other hand, the direct

organisation was further reinforced with sales and service staff in

order to provide customers with even better support.

Outlook 2018

The strategy “Closer to Customers” will be continued in 2018. In

the key markets of North America, Europe and China, the local

presence will be further increased with our own sales and service

staff. More than 75 % of total turnover is achieved in these

regions. The rest continues to be handled by local distribution

partners. Since the introduction of the manual pipette “EVOLVE”

in the previous year, Integra Biosciences has developed into a

complete provider of liquid handling products. This provides the

company with a complete portfolio of manual and electronic

pipettes. The newly launched pipetting robot ASSIST PLUS shows

great promise for the upcoming year. It will further spur the sale of

consumables – especially dosing tips. The second strategic focus

in 2018 will be the continuous increase of innovation. As a result,

the development department and product management will be

expanded and staff will be added. There will be a disproportionate

increase in investments in employees and resources in this area.

The launch of an entire series of consumables is being planned.

Some of these products will start contributing to the anticipated

growth in 2018 and significantly supplement the product portfolio

in the long-term. Injection-moulding production in the USA will be

expanded and automated further in 2018. This measure will lead

to a gradual improvements of margins regarding consumables.

In Switzerland and Germany, the new “SAP Business One” ERP

system was successfully introduced in mid-2017. The rollout at the

two sales offices in France and England took place in January 2018.

Until the end of 2018 SAP Business One will also be launched in

the USA. This is another important milestone for an efficient

financial, sales and production management of the entire Group.

A particular focus continues to be on a balanced turnover and cost

structure in the three most important currencies: CHF, USD and

EUR. This provides the Integra Biosciences Group with the best

possible protection against currency fluctuations.

The headquarters in Zizers will be expanded substantially in 2018.

This is badly needed in order to expand the required capacities

and resources. The new building will be ready for the move in the

second quarter of 2019.

INTEGRA Biosciences AG

Tardisstrasse 201, 7205 Zizers, Switzerland

Tel. +41 81 286 95 30 | Fax +41 81 286 95 33

info@integra-biosciences.com | www.integra-biosciences.com

INTEGRA Biosciences Deutschland GmbH

35444 Biebertal, Germany

Tel. +49 6409 81 999 15 | Fax +49 6409 81 999 68

info-de@integra-biosciences.com

INTEGRA Biosciences Corp.

2 Wentworth Drive, Hudson, NH 03051, USA

Tel. +1 603 578 5800 | Fax +1 603 577 5529

us@integra-biosciences.com

INTEGRA Biosciences Ltd.

Centrum House, Station Road, Egham, TW20 9LF, United Kingdom

Tel. +44 7711 607 687

info-uk@integra-biosciences.com

INTEGRA Biosciences SAS

Avenue du Fief - La Mare II, BP 79570 - ZI Béthunes

St Ouen l‘Aumône, 95062 Cergy-Pontoise Cedex 1, France

Tel. +33 1 34 30 76 76 | Fax +33 1 34 30 76 79

info-fr@integra-biosciences.com

P IP E T T E E VOLV E

A SSIS T P LUS P IP E T T ING ROB O T

The strategy “Closer to

Customers” will be continued

in 2018

24 25

The business segment fuel metering and marine has become independentAquametro Oil & Marine AG was founded in June 2017 as a spin-off of Aquametro AG.

It has taken over, continued and expanded all worldwide activities in the marine

sector, fuel measurement for on-road and off-road vehicles as well as burner

installations. Aquametro Oil & Marine Group develops, produces and sells flow and

measuring systems as well as technical plants for operations management and op-

timisation. The group owns the subsidiaries in Korea, Singapore, China and Germany

as well as agencies in India and Japan as well as a global network of service and

distribution partners.

26 27

Business development

2017 was still shaped by the shipping industry crisis, which has led

to massive job cuts in the large shipyards in China, South Korea

and Japan. As a result, the production of new ships has practically

been cut in half to fewer than 500 units. This crisis, combined with

the requirement that, in the future, each ship on the high seas

has to have a certified, very expensive ballast water system for

killing bacteria and organisms, has led to an extreme reluctance

to make investments, which was primarily noticeable in the sale

of Diesel Switch. However, the situation relaxed slightly in the

autumn of 2017, which had a particularly positive effect on the

sale of oil meters and viscosity systems. In 2017 Aquametro Oil &

Marine participated in international marine trade fairs in Oslo, St.

Petersburg, Mumbai, Busan, Rotterdam as well as Shanghai with

a clear concept and a new market presence:

The frequency of visitors at all trade fairs was very positive and

many new contacts were made.

Multiple development projects were advanced or launched in 2017;

some of them with external partners in line with a network – es-

pecially in the Rostock area:

• Ballast water system

(the largest and most demanding project)

• Shaftpowermeter

• FPS II (Fuel Monitoring System)

• CO2 emission measurement and documentation

• CONTOIL® VZDII

(2nd generation oil meter, electronic and with modbus).

The market launch for all products is scheduled for 2018; for the

ballast water system following the USCG certification at the end

of 2018 or early 2019.

Outlook

For 2018, in spite of the unchanged difficult economic situation

in the marine sector, the Aquametro Oil & Marine is confident,

thanks to focused market development, that its goals and the

anticipated growth will be achieved.

A particular challenge will be the successful final development,

approval and launch of the aforementioned newly developed

products.

Aquametro Oil & Marine AG

Ringstrasse 75, 4106 Therwil, Switzerland

Tel. +41 61 725 44 10

info@aquametro-oil-marine.com | www.aquametro-oil-marine.com

Aquametro Oil & Marine GmbH

Friedrich-Barnewitz-Straße 11, 18119 Rostock-Warnemünde

Tel. +49 381 382 530 00

Aquametro Oil & Marine Korea Ltd.

3F, 169, Sameo-ro, Haeundae-gu, Busan, 612-857, South Korea

Tel. +82 51 905 55 66 | Fax +82 51 905 55 69

aquametro@korea.com

Aquametro Oil & Marine (S.E.A.) Pte Ltd.

10 Ubi Crescent, Lobby B, #04-21 Ubi Techpark, Singapore 408564

Tel. +65 6899 19 80

Aquametro Oil & Marine (China) Pte. Ltd.

10 Ubi Crescent, Lobby B, #04-21 Ubi Techpark, Singapore 408564

Tel. +65 6899 19 80

Aquametro Oil & Marine (China) Pte. Ltd Representative Office

Room 12# 12204C, No. 295 Lingyan Road, Pudong New Area,

Shanghai, China, Tel. +21 33 83 59 99

Aquametro ME JLT

Dubai Representative Office for Marine Business

Jumeirah Lake Towers, Jumeirah Bay X3, office 1807, P.O.Box

334132 Dubai, United Arab Emirates

Tel. +971 56 7587 801

Aquametro Oil & Marine Representative Office India

Thomson John, Regus Business Centre, Level 3,

Neo Vikram Link Road, Andheri (West), 400 053 Mumbai, India

Tel. +91 961 90 13 282

Aquametro Oil & Marine Representative Office Japan

Yasuhiko Takahashi, 1-18-4, Nakane, Meguro-ku

152-0031 Tokyo, Japan

Tel. +81 3 3723 8611 | Fax +81 3 5729 4607

Comment on the reporting year

As the result of the carve-out from Aquametro AG that went into

effect on 1st of July 2017, a new organisation had to be put in place

in a short period of time, all authorisations had to be reapplied

for, production documentation and type plates had to be changed

and all sales materials newly created and designed. The new

market presence under the new name was well received. A key

requirement was the ISO certification at the Therwil and Rostock

locations, which were obtained successfully. At the end of 2017,

the Aquametro Oil & Marine Group employed approximately 30

employees on its own and also shared some service functions with

the former Aquametro AG.

This cooperation allowed both companies to gradually disengage

as well as benefit from an individual development. Due to the

planned turnover and profit growth, in particular as a result of the

ballast water system currently being developed, the Aquametro

Oil & Marine Group anticipates to add more staff and employ 60

people in the medium term.

The 2017 financial year can be called a success – in particular when

taking into account the elaborate and complex move toward

independence from Aquametro AG. In the second half of 2017, the

planned turnover and profit figures were almost achieved. Thanks

to extreme cost discipline, an operational profit of TCHF 824 was

achieved from turnover of CHF 10.5 million.

28 29

Market leader in SwitzerlandSignal AG was founded in Biel in 1946 . Since 1990, the head office and the produc-

tion facility have been located in Büren an der Aare. There are 12 additional branches

in Switzerland. The company supplies systems and solutions for providing information

and safety on all transportation routes. Signal AG is active in the areas of signalling,

information, marking and traffic control.

30 31

Signalisation & Information

Traffic signs, traffic area design, information systems, blocking

systems and construction site safety

Operational and safety equipment for motorways and tunnels.

Changing signs, changing text displays, emergency route signs,

warning sign trailer and impact attenuator

Systems & Solutions

Dynamic display and information sign systems, blocking and

access systems, parking guidance systems

Marking & Assembly

Marking of roads and squares, tactile marking, assembling

The supplementary services include consultation, project planning, engineering, assembling and maintenance.

The 2017 financial year was the most successful in the company’s history Extraordinary projects

In the 2017 financial year, the following motorway projects with

operational and safety devices were completed:

• the A5 bypass Ostast Biel-Bienne (BE)

• the territorial unit VIII (NSNW), displays with changing text

• A6 Rubigen – Thun

Speed harmonisation and hazard warning

• A8 Interlaken bypass

• A16 Court – Loveresse

• A16 Terri – Russelin

The focus of these projects was primarily on engineering, delivery

and assembling of dynamic signs with changing traffic signs.

Sales network

The sales and service network with 12 branches in the cantons

of Aargau, Basel, Freiburg, Geneva, Grisons, Lucerne, Ticino,

Thurgau, Valais, Waadt and Zurich ensures customer proximity in

all language regions of Switzerland. To achieve market success,

it is important to know local conditions and to work closely with

the customers. In Ticino, the subsidiary Segnaletica Mordasini SA

works in the field of road marking.

Comment on the reporting year

The 71st financial year in the history of Signal AG was its most

successful. The operating income increased to CHF 58 million. The

operating profit is up 14 % to CHF 5.5 million. All four segments

experienced a positive development and contributed to the

favourable result. Productivity in the marking segment was up

significantly. Thanks to investments in additional staff and the

optimisation of processes, customers were served faster and

more efficiently.

Outlook

Signal AG will continue to pursue its growth strategy. It focuses

on the expansion of its market position, winning bids for projects

and the expansion of the public transportation market sector.

Due to the many projects on hand, perspectives for the future are

positive. The continuously increasing volume of traffic on national

roads as well as in cities and agglomerations requires additional

investments in the upkeep and expansion of the traffic infrastruc-

ture. In order to better utilise existing capacities, innovative traf-

fic management and signalling systems are absolutely necessary.

Signal AG has the right solutions to make it happen.

SIGNAL AG

Industriezone kleine Ey, 3294 Büren a/Aare, Switzerland

Tel. +41 32 352 11 11 | Fax +41 32 352 11 01

info@signal.ch | www.signal.ch

Segnaletica Mordasini SA

Via Pobbia 4, 6514 Sementina, Switzerland

Tel. +41 91 780 46 60 | Fax +41 91 780 46 61

ticino@signal.ch | www.segnaletica-mordasini.ch

32 33

We are expanding our market position with a focus on profitsSitek AG is a company that manufactures plastic and metal components, small

gear units, assemblies and precision parts. The company was founded in Bettlach in

1997 and taken over by Aquametro AG in 2004. In 2015, Integra Holding purchased

a majority stake. Sitek has a good network for the production of precise plastic and

metal assemblies. The current strong market position is supposed to be expanded in

the main markets of Switzerland and Germany with a focus on profitability.

34 35

Thanks to the distinct niche policy, the company is able to quickly

and flexibly react to customer needs. As a supplier, proximity

to customers is important. Sitek offers a range of services that

includes all processes – from development and design to the

completed part. The production of turned metal parts with plastic

components and an in-house assembly plant for the correspond-

ing assemblies is of great use to customers. A specialist network

that is associated with Sitek is available to them. The company

primarily focuses on its core competence: The production of tech-

nical serial parts.

Comment on the reporting year

The turnover target for 2017 has been achieved. Responsible for

this result was an increase of orders in the third and fourth quar-

ters. An improvement in the exchange rates is one of the reasons

for the improved second half of the year with regard to export

sales.

Compared to the previous year, net turnover was up 11 % at

3.85 million. All segments contributed to this good result.

Installed assemblies for the machinery industry and turned parts

for the electronics and appliance industries are responsible for this

success. The manufacture of parts in the water counter industry

continued to become less important last year. Sitek is challenged

on the market with ever more complex parts. In order to meet

the demands of customers, the company has invested in new

machines in recent years. Additional investments in the areas of

quality assurance, parts cleaning, décolletage and logistics pro-

cessing were able to be lastingly improved with the new facilities

in Grenchen. 20 years after the company was founded, the new

plant symbolises a milestone in the development of Sitek AG.

With the new beginning in Grenchen, the foundation for the fur-

ther development and expansion of Sitek AG was laid.

P RODUC T ION DÉCOL L E TAGE

Outlook

Through a focused market development and proximity to cus-

tomers, the market position in the supplier market is supposed

to be strengthened and expanded. Sitek AG will continue to focus

on a niche market with small and medium series. Our goal is to

utilise our know-how to provide our customers with advice early

on in the project phase and to support them in the production of

samples. The knowledge and relationships acquired this way are

supposed to help pave the way toward a series order. In addition,

the name Sitek has to become better known as a competent

supplier of assemblies. The combination of rotationally symmetric

components with injection-moulded parts sets us apart from our

competitors and provides us with a competitive edge that must

be taken advantage of. The new spatial arrangement provides us

with the opportunity of automating further and structuring the

flow of materials. An optimized production layout will help us to

increase our production and to counter the growing pressure on

margins. The additional potential for expansion lies in the further

development of series production for turned parts as well as a

further expansion of injection moulding. In this business area, the

acquisition of a company that mass produces injection-moulded

parts and the integration into Sitek is a scenario that could be

pursued. The market reaction to the new location in Grenchen

was very positive. We must now take advantage of this positive

environment and attract new customers.

SITEK AG

Neckarsulmstrasse 24, 2540 Grenchen, Switzerland

Tel. +41 32 645 29 29 | Fax +41 32 645 16 84

info@sitek.ch | www.sitek.ch

INJEC T ION-MOUL DED PA RT

With the new plant in Grenchen, the foundation for the

expansion of SITEK was laid

36 37

INTEGRA Group has been operating in India for 30 yearsIntegra Group has been operating in India since 1987 with its own relay production.

In 2012, Integra Holding Ltd. took a majority stake in Schlafhorst Engineering, which

was established in 1981 for the production of textile machinery. After the takeover,

the two companies were merged into today’s Integra Engineering India Ltd. Since

then, Integra Holding Ltd. holds 55 % of the shares of Integra Engineering, while the

remaining shares are traded on the Mumbai stock exchange.

38 39

During the last years, Integra Engineering India Limited has

been growing by providing engineering products and services

which include everything from machining through manufactu-

ring, welding, painting / powder coating to assembly and wiring.

Integra focuses on creating niche in the current segment and

explores new segments as well. The main customers are various

OEMs in the fields of transport and energy technology, including

ABB, Bombardier Transportation, BHEL and Crompton Greaves.

In addition, the company continues to develop new products and

in 2017, worked on the introduction of various new products such

as Fuse Auto Changeover System, LED Signal and own enclosure

system “ipanel”.

Comments on the reporting year

The Indian Engineering sector has witnessed a remarkable growth

over the last few years driven by increased investments in infras-

tructure and industrial production. The engineering sector, being

closely associated with the manufacturing and infrastructure

sectors, is of strategic importance to India’s economy. In 2017 the

company focused on growth with its core products – panels, wire

plates, harnesses and relays. During the year several initiatives

were taken to increase the production efficiency and the whole

Unit-I production was cleaned-out and reorganized to fit the

requirements of the sheet metal production. Also in Unit-II the

production is being reorganized to fit the change in product mix.

The manufacturing business of electrical parts such as relay, wire

harness and wiring plates was consolidated and could be grown.

This was well complimented by the initiation of fabrication of

new stainless steel panels for the transportation sector. Apart

from these, the business has been augmented by addition of

new customers as well as expansion of product range for existing

customers. At the same time Integra Engineering India Ltd. conti-

nued to get additional income by way of leasing free sheds to the

external tenants.

Integra Engineering India Ltd. was able to benefit from its focus

strategy and the measures taken to improve the production out-

put and recorded order intake of CHF 6.4 mio, around TCHF 1,450

higher than the previous year, representing an increase of almost

30%. Also revenue was boosted by around 50 %, mainly driven by

an increase in Unit-I production output and sales.

Thanks to more efficient material utilization, the gross margin

increased as well, so that in 2017 an EBITDA of TCHF 600 and a

net profit of around TCHF 500 were generated.

During the year the company has invested into the company

infrastructure by buying new bending presses, a powder coating

plant and establishing a fully automated production line for the

new “ipanel” production.

Forecast

The Company plans to continue and expand its product portfolio

both with its own products as well as additional solutions for its

contract manufacturing customers. In the area of railway signa-

ling, the company will strongly promote its Fuse Auto Changeover

System with the RDSO approval finally in hand and will continue

to develop further related products such as LED signal. Additional-

ly, the company is expanding the solution range of electro-mecha-

nical products for OEM customers. At the same time, the areas of

design and manufacturing in sheet metal fabrication with a focus

on stainless steel have been systematically expanded. The compa-

ny aims to become the leading supplier of rolling stock enclosures

such as traction, Auxiliary Panels and Hotel Load converter to all

major rolling stock manufactures.

Most importantly Integra Engineering plans to launch its own line

of “ipanel” enclosures in 2018 to cater to industry needs.

The market response to the profile of Integra Engineering Ltd.

continues to be very positive. The management is confident that,

with the current economic environment and further developments

within the organization, it will be able to benefit from the invest-

ments. These developments can be summarized for Integra Engi-

neering India Ltd. in many opportunities for continued expansion

and positive development of the business in the next few years.

INTEGRA Engineering India Ltd.

Post Box No. 55, Chandrapura Village,

Taluka: Halol - 389 350, District: Panchmahals, Gujarat India

Tel. +91 2676 221870 | Fax +91 2676 220887

info@integraengineering.in | www.integraengineering.in

INTEGRA Engineering plans to continue to expand its product portfolio

40 41

Our equipment adds value to the market, is original and is made with respect for the environmentIntroduction

Micronic’s goal is to advance research by serving scientists in

finding solutions that contribute to a higher quality of life. We

develop and manufacture a range of Dutch-designed products to

enhance the process of sample preservation and storage.

FY2017

In 2017, the advanced Life Sciences markets in the United States

and Europe again showed significant growth for Micronic. To

support the growth of labware equipment sales, Micronic moved

the Equipment Assembly and Product Development & Manufac-

turing Engineering teams to a dedicated new building close to its

headquarters. To support the growth of labware sales, Micronic

built a new cleanroom in The Netherlands. Thus, in 2018 Micronic’s

production facilities will feature 1,000 m² of molding cleanroom.

In 2017, Micronic launched the 0.30 ml, 1.00 ml, 3.50 ml and 4.00 ml

tubes with external screw thread, to complete the range of

externally threaded tubes. Using externally threaded tubes for

sample storage eliminates the possibility of the sample coming

into contact with the screw thread, greatly reducing the chance

of cross-contamination while improving sample integrity. Due to

thick tube walls, the tube has a sturdy design and excellent pro-

perties for ultra-low temperature storage. Moreover, the 1.00ml

and 3.50ml tubes with external thread are specifically designed

for tissue sample storage. With these tubes, Micronic is the first

in the market to enable researchers to automate and standardize

the process of tissue sample storage.

In addition, in 2017 Micronic won awards for its labware equip-

ment. During Dutch Design Week 2017 the Micronic recappers

CS500 and CS700 were both awarded a GIO Award for good

industrial design. The award indicates that the equipment adds

value to the market, is original, and is made with respect for the

environment. To express its commitment to safeguarding the

natural environment for future generations, Micronic actively

seeks to respect the environment in the design of all its products

and processes. Other environmental steps were the selection of

packaging made from FSC carton, and the reduction of paper used

for Micronic product documentation.

Outlook

In 2018 Micronic aims to continue its growth in the European and

American markets and to maintain its focus on the emerging Chi-

nese and Indian markets. In regard to labware, Micronic will launch

a new range of externally threaded ‘hybrid’ tubes which uniquely

combine four coding concepts to identify samples. As to labware

equipment, Micronic will introduce new equipment to the market:

the new Tube Handler HT700 will extend the equipment product

portfolio, providing customers with an even more comprehensive

sample storage workflow solution. Finally in 2018, the existing Mi-

cronic equipment will be optimized with a new design, to maintain

a leading position in the sample storage industry.

Micronic Holding B.V.

Head Office: Platinastraat 51, 8211 AR Lelystad, The Netherlands

Tel. +31 320 277070 | Fax +31 320 277055

sales@micronic.com | www.micronic.com

MICRONIC T UBE R A NGE W I T H E X T ER N A L T HR E A D MICRONIC 1 .00ML T ISSUE S T OR AGE T UBE

BELO W: MICRONIC SCR E W C A P R EC A P P ER C S500

48 49

For 90 years,

INTEGRA has been selling water, energy

and oil counters all over the world

INTEGRA Immobilien provides living and

working space over an area of more than

100,000 m²

997 people are employed by INTEGRA

The SITEK office and production areas

created in 2017 comprise

2,500 m² Throughout the world, more than

100,000 scientists use INTEGRA Biosciences products

1,000,000 INTEGRA relays

make the Indian railways safer

90,000

traffic signs were installed in Switzerland

by SIGNAL in 2017

5 – 15 %

fuel savings thanks to solutions from

Aquametro Oil & Marine

Imprint

Published by

INTEGRA Holding AG

Hammerweg 1

8304 Wallisellen, Switzerland

Tel. +41 43 233 30 20 | Fax +41 43 233 30 21

www.integra.ch

Subjects to change

© INTEGRA Holding AG, 2018