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





Carrying amount of non-controlling interests acquired




Consideration paid in cash




Consideration non-cash




Consideration payable




Decrease in equity attributable to owners of Sulzer Ltd




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





Balance as of January 1





Payment of contingent consideration





Release to other operating income




Currency translation differences





Total contingent consideration as of June 30 / December 31




– thereof non-current



– thereof current




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.