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4Acquisitions of subsidiaries, associates and transactions with non-controlling interests

Transactions with non-controlling interests

The following table summarizes the effect of changes in the equity attributable to owners of Sulzer Ltd: 

millions of CHF

 

2023

 

2022

Carrying amount of non-controlling interests acquired

 

0.4

 

Consideration paid in cash

 

–19.4

 

Consideration non-cash

 

–2.8

 

Consideration payable

 

–0.6

 

Decrease in equity attributable to owners of Sulzer Ltd

 

–22.4

 

In January 2023, the group acquired the remaining 25% in Sulzer Saudi Pump Company Limited for a total consideration of CHF 22.8 million. 

Contingent consideration from the acquisition of subsidiaries

millions of CHF

 

2023

 

2022

Balance as of January 1

 

1.9

 

5.9

Payment of contingent consideration

 

–1.3

 

–4.2

Release to other operating income

 

–0.5

 

Currency translation differences

 

–0.0

 

0.2

Total contingent consideration as of June 30 / December 31

 

 

1.9

– thereof non-current

 

 

– thereof current

 

 

1.9

In the first half of 2023, the group paid a contingent consideration in the amount of CHF 1.3 million and recorded a release to other operating income amounting to CHF 0.5 million, both related to an acquisition in 2021. 

Investment in associates

In February 2023, Sulzer acquired a strategic stake in Fuenix Ecogy Holding B.V., a circular technology company. The partnership aims to drive the development, commercialization and adoption of advanced, fully integrated solutions for plastic waste processing. The investment of CHF 10.1 million was classified as an investment in an associate.