4. Group Structure
4.1 Acquisitions and divestments
Acquisitions and divestments
Purchase and disposal of investments in the reporting year
Schmid Rhyner acquired a 100% stake in ISAtec GmbH in Wohlenschwil, Switzerland, effective March 23, 2018. With effect on April 12, 2018, the Bystronic business unit acquired a 100% stake in TTM Laser S.p.A. and Laserway srl. in Cazzago San Martino, Italy, as well as a 70% majority stake in the Italian automation specialists Antil S.p.A. based in San Giuliano Milanese, Italy on July 2, 2018. The acquired companies increased Group revenues by CHF 21.8 million in 2018. Information about the impact of the acquisitions on the balance sheet and cash flow can be found in the table below.
Purchase and disposal of investments in the previous year
On September 1, 2017, the FoamPartner business unit acquired the Otto Bock foam business in Duderstadt, Germany, and Rochester Hills, USA. The transaction included the acquisition of the entire stake in the joint venture operated by Otto Bock and FoamPartner in China. Revenue adjustments for acquisitions made in 2017 amounted to CHF 110.2 million in 2018 in comparison with the previous year.
On July 1, 2017, Conzzeta sold its 51% stake in Woodbridge FoamPartner Company in Chattanooga, Tennessee, USA, and on December 20, 2017, it sold its entire holdings in Bystronic (Tianjin) Machinery Co. Ltd. in Tianjin, China. Revenue adjustments for holdings sold in 2017 amounted to CHF 5.1 million in the previous year. The sales resulted in a gain of CHF 10.8 million, which was included in the previous year’s result under EBIT.
Acquisition and divestment of business activities and investments
|
CHF million |
Purchase 2018 |
|
Purchase 2017 |
|
Disposal 2017 |
|
|
|
|
|
|
|
|
|
|
Current assets |
–25.5 |
|
–54.7 |
|
7.2 |
|
|
Fixed assets |
–4.4 |
|
–38.3 |
|
2.9 |
|
|
Short-term liabilities |
22.6 |
|
17.5 |
|
–1.0 |
|
|
Long-term liabilities |
6.3 |
|
10.8 |
|
|
|
|
Net assets acquired or divested |
–1.0 |
|
–64.7 |
|
9.1 |
|
|
|
|
|
|
|
|
|
|
Plus/less cash and cash equivalents |
1.4 |
|
5.4 |
|
–5.2 |
|
|
Subtotal |
0.4 |
|
–59.3 |
|
3.9 |
|
|
|
|
|
|
|
|
|
|
Goodwill |
–41.8 |
|
–116.8 |
|
|
|
|
Result from disposal of investments |
|
|
|
|
10.8 |
|
|
Net cash flow |
–41.4 |
|
–176.1 |
|
14.7 |
|
|
|
|
|
|
|
|
|
4.2 Affiliated companies
|
|
|
|
|
|
|
Investment in % |
|
Investments in % |
|
|
Company, domicile |
Notes |
Country |
|
Company capital |
|
direct |
|
indirect |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bystronic |
|
|
|
|
|
|
|
|
|
|
Bystronic Laser AG, Niederönz |
|
CH |
CHF |
50’000 |
|
100 |
|
|
|
|
Bystronic Maschinenbau GmbH, Gotha |
|
DE |
EUR |
3’400’100 |
|
|
|
100 |
|
|
Bystronic (Tianjin) Laser Ltd, Tianjin |
|
CN |
USD |
12’000’000 |
|
|
|
100 |
|
|
Shenzhen DNE Laser Science and Technology Co. Ltd, Shenzhen |
|
CN |
CNY |
44’600’000 |
|
|
|
51 |
|
|
FMG Verfahrenstechnik AG, Sulgen |
|
CH |
CHF |
100’000 |
|
|
|
100 |
|
|
Bystronic Manufacturing Americas, LLC, Elgin, IL |
1 |
US |
USD |
1’000’000 |
|
|
|
100 |
|
|
TTM Laser S.p.A., Cazzago San Martino |
2 |
IT |
EUR |
750’000 |
|
|
|
100 |
|
|
Laserway srl., Cazzago San Martino |
2 |
IT |
EUR |
14’000 |
|
|
|
100 |
|
|
ANTIL S.p.A., San Giuliano Milanese |
3 |
IT |
EUR |
250’000 |
|
|
|
70 |
|
|
Bystronic, Inc., Elgin IL |
|
US |
USD |
250’000 |
|
|
|
100 |
|
|
Bystronic Scandinavia AB, Rosersberg |
|
SE |
SEK |
200’000 |
|
|
|
100 |
|
|
Bystronic France SAS, Les Ulis |
|
FR |
EUR |
2’500’000 |
|
|
|
100 |
|
|
Bystronic Italia S.r.l., Bovisio Masciago |
|
IT |
EUR |
900’000 |
|
|
|
100 |
|
|
Bystronic Deutschland GmbH, Heimsheim |
|
DE |
EUR |
52’000 |
|
|
|
100 |
|
|
Bystronic (Shanghai) Co. Ltd, Shanghai |
|
CN |
USD |
6’500’000 |
|
|
|
100 |
|
|
Bystronic Ibérica S.A., San Sebastián de los Reyes |
|
ES |
EUR |
262’000 |
|
|
|
100 |
|
|
Bystronic Mexico S.A. de C.V., Apodaca |
|
MX |
MXN |
2’500’000 |
|
|
|
100 |
|
|
Bystronic Austria GmbH, Linz |
|
AT |
EUR |
300’000 |
|
|
|
100 |
|
|
Bystronic do Brasil Ltda., Colombo PR |
|
BR |
BRL |
9’000’000 |
|
|
|
100 |
|
|
Bystronic Pte. Ltd, Singapore |
|
SG |
SGD |
2’500’000 |
|
|
|
100 |
|
|
Bystronic Benelux B.V., Hardinxveld-Giessendam |
|
NL |
EUR |
18’151 |
|
|
|
100 |
|
|
Bystronic UK Ltd, Coventry |
|
GB |
GBP |
1’200’000 |
|
|
|
100 |
|
|
Bystronic Sales AG, Niederönz |
|
CH |
CHF |
200’000 |
|
|
|
100 |
|
|
Bystronic Korea Ltd, Anyang-si |
|
KR |
KRW |
11’600’000’000 |
|
|
|
100 |
|
|
Bystronic Polska Sp. z o.o., Raszyn |
|
PL |
PLN |
1’000’000 |
|
|
|
100 |
|
|
Bystronic Czech Republic s.r.o., Brno |
|
CZ |
CZK |
6’000’000 |
|
|
|
100 |
|
|
Bystronic Laser India Private Ltd, Pune |
|
IN |
INR |
602’420 |
|
|
|
100 |
|
|
Bystronic Lazer ve Su Isinlari Makineleri Sanayi ve Ticaret Limited Sirketi, Istanbul |
|
TR |
TRY |
660’000 |
|
|
|
100 |
|
|
Bystronic Japan Ltd, Tokyo |
|
JP |
JPY |
60’000’000 |
|
|
|
100 |
|
|
Bystronic Canada Ltd, Mississauga ON |
|
CA |
CAD |
100’000 |
|
|
|
100 |
|
|
OOO Bystronic Laser, Moscow |
|
RU |
RUB |
30’000’000 |
|
|
|
100 |
|
|
S.C. Bystronic Laser S.R.L., Brasov |
|
RO |
RON |
3’277’000 |
|
|
|
100 |
|
|
Bystronic International Laser Ltd, New Taipei City |
|
TW |
TWD |
5’000’000 |
|
|
|
100 |
|
|
LLC Bystronic Ukraine, Kyiv |
|
UA |
UAH |
172’245 |
|
|
|
100 |
|
|
Bystronic Australia Pte. Ltd, Cranbourne West |
|
AU |
AUD |
100’000 |
|
|
|
100 |
|
|
Bystronic Hungary Kft, Budaörs |
|
HU |
HUF |
25’000’000 |
|
|
|
100 |
|
|
Bystronic Vietnam Co. Ltd, Ho Chi Minh City |
|
VN |
VND |
6’600’000’000 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
FoamPartner |
|
|
|
|
|
|
|
|
|
|
Fritz Nauer AG, Wolfhausen |
|
CH |
CHF |
5’000’000 |
|
100 |
|
|
|
|
Reisgies Schaumstoffe GmbH, Leverkusen |
|
DE |
EUR |
1’000’000 |
|
|
|
100 |
|
|
Frina Mousse France S.à r.l., Wittenheim |
|
FR |
EUR |
117’386 |
|
|
|
100 |
|
|
Büttikofer AG, Gontenschwil |
|
CH |
CHF |
250’000 |
|
|
|
100 |
|
|
Swiss-Tex, Inc., Greenville SC |
|
US |
USD |
2’023’640 |
|
|
|
100 |
|
|
FoamPartner-Bock AG, Zug |
|
CH |
CHF |
1’000’000 |
|
|
|
100 |
|
|
FoamPartner-Bock Trading (Shanghai) Ltd, Shanghai |
|
CN |
USD |
600’000 |
|
|
|
100 |
|
|
FoamPartner-Bock Polyurethane Materials (Changzhou) Co. Ltd, Changzhou |
|
CN |
USD |
14’250’000 |
|
|
|
100 |
|
|
Kureta GmbH, Stadtallendorf |
|
DE |
EUR |
100’000 |
|
|
|
100 |
|
|
FoamPartner Singapore Pte. Ltd, Singapore |
|
SG |
SGD |
100’000 |
|
|
|
100 |
|
|
Benien Produktionstechnik GmbH, Delmenhorst |
|
DE |
EUR |
500’000 |
|
|
|
100 |
|
|
FoamPartner Holding Inc., Wilmington DE |
4 |
US |
|
|
|
|
|
|
|
|
Hydra Sponge Co., Washington MO |
4 |
US |
|
|
|
|
|
|
|
|
Otto Bock Kunststoff GmbH, Duderstadt |
|
DE |
EUR |
52’000 |
|
|
|
100 |
|
|
Otto Bock PUR Life Science GmbH, Duderstadt |
|
DE |
EUR |
25’000 |
|
|
|
100 |
|
|
Otto Bock Kunststoff Besitz- und Verwaltungs GmbH, Duderstadt |
|
DE |
EUR |
420’000 |
|
|
|
100 |
|
|
Otto Bock Polyurethane Technologies Inc., Rochester Hills MI |
|
US |
USD |
250’000 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Schmid Rhyner |
|
|
|
|
|
|
|
|
|
|
Schmid Rhyner AG, Adliswil |
|
CH |
CHF |
1’200’000 |
|
100 |
|
|
|
|
Schmid Rhyner (USA), Inc., Marlton NJ |
|
US |
USD |
1’800’000 |
|
|
|
100 |
|
|
Schmid Rhyner Sales AG, Adliswil |
|
CH |
CHF |
100’000 |
|
|
|
100 |
|
|
ISAtec GmbH, Wohlenschwil |
5 |
CH |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mammut Sports Group |
|
|
|
|
|
|
|
|
|
|
Mammut Sports Group AG, Seon |
|
CH |
CHF |
25’000’000 |
|
100 |
|
|
|
|
Mammut Sports Group GmbH, Wolfertschwenden |
|
DE |
EUR |
500’000 |
|
|
|
100 |
|
|
Mammut Sports Group, Inc., Williston VT |
|
US |
USD |
51 |
|
|
|
100 |
|
|
Mammut Ajungilak AS, Oslo |
|
NO |
NOK |
2’000’000 |
|
|
|
100 |
|
|
Mammut Sports Group Japan Inc., Tokyo |
|
JP |
JPY |
30’000’000 |
|
|
|
100 |
|
|
Mammut UK Ltd, Macclesfield |
|
GB |
GBP |
1’000 |
|
|
|
100 |
|
|
Mammut Korea, Inc., Seoul |
|
KR |
KRW |
1’250’000’000 |
|
|
|
100 |
|
|
Mammut Outdoor Equipment (Beijing) Co. Ltd, Beijing |
|
CN |
USD |
1’500’000 |
|
|
|
100 |
|
|
Mammut Sports Group Asia Ltd, Hong Kong |
|
HK |
HKD |
100’000 |
|
|
|
100 |
|
|
Mammut France, Epagny Metz-Tessy |
6 |
FR |
EUR |
10’000 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bystronic glass |
|
|
|
|
|
|
|
|
|
|
Bystronic Maschinen AG, Bützberg |
|
CH |
CHF |
100’000 |
|
100 |
|
|
|
|
Bystronic Lenhardt GmbH, Neuhausen-Hamberg |
|
DE |
EUR |
2’050’000 |
|
|
|
100 |
|
|
Bystronic Glass Machinery (Shanghai) Co. Ltd, Shanghai |
|
CN |
EUR |
4’300’000 |
|
|
|
100 |
|
|
Bystronic Glass UK Ltd, Telford |
|
GB |
GBP |
700’000 |
|
|
|
100 |
|
|
Bystronic Asia Pte. Ltd, Singapore |
|
SG |
SGD |
1’000’000 |
|
|
|
100 |
|
|
Bystronic Glass do Brasil Máquinas para Vidros Ltda., Indaiatuba SP |
7 |
BR |
|
|
|
|
|
|
|
|
LLC Bystronic Steklo RUS, Moscow |
|
RU |
RUB |
1’000’000 |
|
|
|
100 |
|
|
Bystronic Glass (Shanghai) Co. Ltd, Shanghai |
|
CN |
USD |
1’900’000 |
|
|
|
100 |
|
|
Bystronic Glass, Inc., Aurora CO |
|
US |
USD |
250’000 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Holding and Management Companies |
|
|
|
|
|
|
|
|
|
|
Conzzeta Holding Deutschland AG, Leverkusen |
|
DE |
EUR |
6’000’000 |
|
100 |
|
|
|
|
Conzzeta Grundstücksverwaltungs GmbH, Leverkusen |
|
DE |
EUR |
50’000 |
|
|
|
100 |
|
|
Conzzeta Vermögensverwaltungs GmbH & Co. KG, Leverkusen |
|
DE |
EUR |
100’000 |
|
|
|
100 |
|
|
Conzzeta Management AG, Zurich |
|
CH |
CHF |
100’000 |
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Associated Companies |
|
|
|
|
|
|
|
|
|
|
Mammut Sports Group Austria GmbH, Steyr |
|
AT |
EUR |
363’400 |
|
|
|
25.1 |
|
|
|
|
|
|
|
|
|
|
|
|
1 Formation on July 1, 2018
2 Acquisition on April 12, 2018
3 Acquisition on July 2, 2018
4 Merger with Swiss-Tex Inc. on December 1, 2018
5 Acquisition on March 23, 2018, merger with Schmid Rhyner AG on September 1, 2018
6 Formation on August 13, 2018
7 Sale on October 11, 2018