4. Group structure
4.1 Acquisitions and divestments
Acquisitions and divestments in the reporting year
Conzzeta sold the Glass Processing segment to the Finnish company Glaston Corporation effective as of April 1, 2019. The transaction resulted in a non-taxable gain from disposal of CHF 29.9 million that was recorded under “Other operating income“.
|
|
|
|
|
CHF million |
April 1, 2019 |
|
|
|
|
|
|
Current assets |
57.2 |
|
|
Non-current assets |
9.3 |
|
|
Assets |
66.4 |
|
|
Short-term liabilities |
51.1 |
|
|
Long-term liabilities |
1.0 |
|
|
Liabilities |
52.0 |
|
|
Net assets divested |
14.4 |
|
|
|
|
|
|
Consideration |
63.4 |
|
|
Net assets divested |
–14.4 |
|
|
Transaction costs |
–4.3 |
|
|
Recycling of currency translation adjustments |
–14.8 |
|
|
Gain on disposal |
29.9 |
|
|
|
|
|
|
Consideration |
63.4 |
|
|
Transaction costs already paid |
–2.9 |
|
|
Cash and cash equivalents disposed of |
–5.6 |
|
|
Settlement intercompany receivable/debt |
19.4 |
|
|
Net cash flow |
74.3 |
|
|
|
|
|
In May 2019, Bystronic Laser AG, Niederönz (Switzerland), exercised an option to purchase an additional 19% share in the capital of Shenzhen DNE Laser Science and Technology Co. Ltd., Shenzen (China). The closing of the transaction was at August 31, 2019, and led to an increase in the capital share from 51% to 70%. Purchase price of the additional share was CHF 62.4 million and was, including transaction costs of CHF 0.3 million, recognized in equity.
In 2019, the remaining purchase price liability of CHF 0.2 million related to the 2018 acquired company ISAtec GmbH, Wohlenschwil (Switzerland), was settled.
Acquisitions in the previous year
Schmid Rhyner acquired a 100% stake in ISAtec GmbH, 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., 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.
|
CHF million |
2018 |
|
|
|
|
|
|
Current assets |
–25.5 |
|
|
Non-current assets |
–4.4 |
|
|
Assets |
–29.9 |
|
|
Short-term liabilities |
22.6 |
|
|
Long-term liabilities |
6.3 |
|
|
Liabilities |
28.9 |
|
|
Net assets acquired |
–1.0 |
|
|
|
|
|
|
Less cash and cash equivalents acquired |
1.4 |
|
|
Subtotal |
0.4 |
|
|
|
|
|
|
Goodwill |
–41.8 |
|
|
Net cash flow |
–41.4 |
|
|
|
|
|
4.2 Affiliated companies
|
|
|
|
|
|
|
Investment in % |
|
Investment 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 |
1 |
CN |
CNY |
44,600,000 |
|
|
|
70 |
|
|
FMG Verfahrenstechnik AG, Sulgen |
|
CH |
CHF |
100,000 |
|
|
|
100 |
|
|
Bystronic Manufacturing Americas, LLC, Elgin, IL |
|
US |
USD |
1,000,000 |
|
|
|
100 |
|
|
Bystronic Tube Processing S.p.A., Cazzago San Martino |
|
IT |
EUR |
750,000 |
|
|
|
100 |
|
|
Laserway srl., Cazzago San Martino |
2 |
IT |
|
|
|
|
|
|
|
|
ANTIL S.p.A., San Giuliano Milanese |
|
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 |
|
|
|
|
|
|
|
|
|
|
FoamPartner Switzerland AG, Wolfhausen |
|
CH |
CHF |
5,000,000 |
|
100 |
|
|
|
|
FoamPartner Leverkusen 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 |
3 |
US |
|
|
|
|
|
|
|
|
FoamPartner Holding AG, Zug |
|
CH |
CHF |
1,000,000 |
|
|
|
100 |
|
|
FoamPartner Trading (Shanghai) Ltd., Shanghai |
|
CN |
USD |
600,000 |
|
|
|
100 |
|
|
FoamPartner 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 |
|
|
FoamPartner Delmenhorst GmbH, Delmenhorst |
|
DE |
EUR |
500,000 |
|
|
|
100 |
|
|
FoamPartner Germany GmbH, Duderstadt |
|
DE |
EUR |
52,000 |
|
|
|
100 |
|
|
FoamPartner Converting Center GmbH, Duderstadt |
|
DE |
EUR |
25,000 |
|
|
|
100 |
|
|
FoamPartner Besitz- und Verwaltungs BmbH, Duderstadt |
|
DE |
EUR |
420,000 |
|
|
|
100 |
|
|
FoamPartner Americas, Inc., Wilmington DE |
|
US |
USD |
0 |
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
FR |
EUR |
10,000 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bystronic glass |
|
|
|
|
|
|
|
|
|
|
Bystronic Maschinen AG, Bützberg |
4 |
CH |
|
|
|
|
|
|
|
|
Bystronic Lenhardt GmbH, Neuhausen-Hamberg |
4 |
DE |
|
|
|
|
|
|
|
|
Bystronic Glass Machinery (Shanghai) Co. Ltd, Shanghai |
4 |
CN |
|
|
|
|
|
|
|
|
Bystronic Glass UK Ltd, Telford |
4 |
GB |
|
|
|
|
|
|
|
|
Bystronic Asia Pte. Ltd, Singapore |
4 |
SG |
|
|
|
|
|
|
|
|
LLC Bystronic Steklo RUS, Moscow |
4 |
RU |
|
|
|
|
|
|
|
|
Bystronic Glass (Shanghai) Co. Ltd, Shanghai |
4 |
CN |
|
|
|
|
|
|
|
|
Bystronic Glass, Inc., Aurora CO |
4 |
US |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 Increase investment from 51% to 70% on August 1, 2019
2 Liquidated as of December 19, 2019
3 Merger with FoamPartner Americas, Inc., Wilmington DE, on March 25, 2019
4 Divested as of April 1, 2019