4Acquisitions and divestitures of subsidiaries and transactions with non-controlling interests
Cash flow from acquisitions of subsidiaries
|
in Mio. CHF |
|
2022 |
|
2021 |
|
Kaufpreis, bezahlt in flüssigen Mitteln |
|
– |
|
–138.4 |
|
Bedingte Kaufpreiszahlung |
|
–4.2 |
|
–0.5 |
|
|
|
– |
|
15.0 |
|
|
|
–4.2 |
|
–123.9 |
No acquisitions of businesses were made in the year 2022, contingent consideration was paid in 2022 for the GTC Technology US, LLC acquisition in 2019.
Contingent consideration
|
in Mio. CHF |
|
2022 |
|
2021 |
|
Bestand am 1. Januar |
|
5.9 |
|
6.6 |
|
Veränderung Konsolidierungskreis |
|
– |
|
1.9 |
|
n/a |
|
– |
|
–2.2 |
|
Begleichung bedingte Kaufpreiszahlung |
|
–4.2 |
|
–0.5 |
|
Währungsumrechnungsdifferenzen |
|
0.2 |
|
0.1 |
|
Total bedingte Kaufpreiszahlung am 30. Juni/31. Dezember |
|
1.9 |
|
5.9 |
|
– davon langfristig |
|
– |
|
1.9 |
|
– davon kurzfristig |
|
1.9 |
|
4.0 |
The outstanding contingent consideration relates to acquisitions in 2021. It is expected to be paid in 2023. It is presented in other current liabilities.
Acquisitions in 2021
The following table summarizes the recognized amounts of assets acquired and liabilities assumed at the date of acquisition, including the resulting goodwill and the total consideration paid.
Net assets acquired
|
in Mio. CHF |
|
Nordic Water |
|
Others |
|
Total |
|
n/a |
|
72.3 |
|
7.4 |
|
79.7 |
|
n/a |
|
1.2 |
|
1.4 |
|
2.5 |
|
n/a |
|
2.9 |
|
1.5 |
|
4.4 |
|
n/a |
|
0.1 |
|
– |
|
0.1 |
|
n/a |
|
14.1 |
|
0.9 |
|
15.0 |
|
n/a |
|
7.3 |
|
0.1 |
|
7.4 |
|
n/a |
|
19.9 |
|
1.3 |
|
21.2 |
|
n/a |
|
–2.9 |
|
–1.4 |
|
–4.4 |
|
n/a |
|
–1.9 |
|
–0.2 |
|
–2.1 |
|
n/a |
|
–18.7 |
|
–1.0 |
|
–19.7 |
|
n/a |
|
–20.1 |
|
–0.4 |
|
–20.5 |
|
Identifizierbares Nettovermögen |
|
74.3 |
|
9.4 |
|
83.6 |
|
n/a |
|
54.9 |
|
1.7 |
|
56.6 |
|
Kaufpreisverpflichtung |
|
129.2 |
|
11.1 |
|
140.2 |
|
|
|
|
|
|
|
|
|
n/a |
|
129.2 |
|
9.2 |
|
138.4 |
|
n/a |
|
– |
|
1.9 |
|
1.9 |
|
Kaufpreisverpflichtung |
|
129.2 |
|
11.1 |
|
140.2 |
Divestitures in 2022
In the first half of 2022, the group sold its 100% shareholding in the Brazilian subsidiary Sulzer Services Brasil, Triunfo. The disposal resulted in a loss of CHF 0.6 million, including a loss of CHF 1.0 million from the reclassification of currency translation differences into the income statement. The loss is recorded in other operating expenses. In the first half of 2022, the group announced its intention to wind down its business in Poland, comprising of the two subsidiaries Sulzer Turbo Services Poland and Sulzer Pumps Wastewater Poland. The group assessed that it no longer has control over the two subsidiaries and deconsolidated the Polish business at the end of the first half of 2022. The investment retained was classified as investment in associates, the fair value of the investment retained at the date of the loss of control amounted to zero. The deconsolidation resulted in a loss of CHF 6.2 million and includes a loss of CHF 1.2 million from the reclassification of currency translation differences into the income statement. The loss is recorded in other operating expenses.
Cash flow from divestments
|
in Mio. CHF |
|
2022 |
|
2021 |
|
Erworbene flüssige Mittel |
|
7.8 |
|
1.6 |
|
|
|
–4.6 |
|
–2.8 |
|
Total Mittelfluss aus Akquisitionen, inkl. erworbener flüssiger Mittel |
|
3.2 |
|
–1.2 |
Net assets derecognized
The assets and liabilities derecognized during the year 2022 as part of the divestitures are reflected in the below table.
|
in Mio. CHF |
|
Total |
|
n/a |
|
2.5 |
|
n/a |
|
0.2 |
|
|
|
2.0 |
|
n/a |
|
9.0 |
|
|
|
0.6 |
|
n/a |
|
1.9 |
|
n/a |
|
4.7 |
|
|
|
–0.3 |
|
|
|
–2.6 |
|
|
|
–0.7 |
|
|
|
–4.8 |
|
Identifizierbares Nettovermögen |
|
12.5 |
Transactions with non-controlling interests
|
in Mio. CHF |
|
2022 |
|
2021 |
|
n/a |
|
–0.8 |
|
5.4 |
|
n/a |
|
0.4 |
|
–17.3 |
|
n/a |
|
–0.4 |
|
–11.9 |