4. Group structure
4.1 Acquisitions and divestments
Acquisitions and divestments in the reporting year
As of February 28, 2020, Conzzeta sold its Schmid Rhyner business unit to the German specialty chemicals group Altana. The transaction resulted in a gain from the sale of CHF 47.4 million that was recorded under “Other operating income”. This gain includes the reclassification of goodwill in the amount of CHF 3.9 million, which was offset against equity at the time of acquisition.
|
|
|
|
|
CHF million |
February 28, 2020 |
|
|
|
|
|
|
Current assets |
19.2 |
|
|
Non-current assets |
13.6 |
|
|
Assets |
32.8 |
|
|
Short-term liabilities |
17.1 |
|
|
Long-term liabilities |
2.2 |
|
|
Liabilities |
19.3 |
|
|
Net assets divested |
13.5 |
|
|
|
|
|
|
Consideration |
67.2 |
|
|
Net assets divested |
–13.5 |
|
|
Transaction costs |
–2.4 |
|
|
Recycling of goodwill |
–3.9 |
|
|
Gain on disposal |
47.4 |
|
|
|
|
|
|
Consideration received |
67.2 |
|
|
Transaction costs paid |
–2.4 |
|
|
Cash and cash equivalents disposed of |
–3.1 |
|
|
Settlement intercompany receivable/debt |
11.6 |
|
|
Net cash flow |
73.4 |
|
|
|
|
|
On May 1, 2020, the Bystronic business unit acquired the business of Weber Laserservice BV, Heteren (the Netherlands). The purchase price was EUR 1.6 million (CHF 1.7 million). The transaction gave rise to goodwill of EUR 0.8 million (CHF 0.8 million), which was offset directly in equity.
On September 30, 2020, Bystronic Laser AG, Niederönz (Switzerland), acquired the remaining 30% share capital in Shenzhen DNE Laser Science and Technology Co. Ltd, Shenzhen (China), from the minority shareholder. Conzzeta now owns 100% of the voting and share capital of the company. The purchase price for the remaining 30% of the shares amounted to CHF 58.9 million (including transaction costs of CHF 0.6 million) and was recognized in equity.
As of December 30, 2020, Mammut Korea Inc, Seoul (Korea) was liquidated. The goodwill of CHF 2.2 million, which was offset against equity at the time of acquisition, was booked to the income statement under “Other operating expenses” in the reporting year.
Acquisitions in the previous year
Conzzeta sold the Glass Processing segment to the Finnish company Glaston Corporation on April 1, 2019. The transaction resulted in a non-taxable gain from the sale 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% of the share capital of Shenzhen DNE Laser Science and Technology Co. Ltd., Shenzhen (China). The closing of the transaction was on August 31, 2019, and led to an increase in the share capital from 51% to 70%. The purchase price of the additional shares 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 acquisition of the company ISAtec GmbH, Wohlenschwil (Switzerland) in 2018, was settled.
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 |
|
|
|
100 |
|
|
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 |
|
|
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 |
|
|
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 |
2 |
DE |
EUR |
|
|
|
|
|
|
|
FoamPartner Americas, Inc., Wilmington DE |
|
US |
USD |
0 |
|
|
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Schmid Rhyner |
|
|
|
|
|
|
|
|
|
|
Schmid Rhyner AG, Adliswil |
3 |
CH |
|
|
|
|
|
|
|
|
Schmid Rhyner (USA), Inc., Marlton NJ |
3 |
US |
|
|
|
|
|
|
|
|
Schmid Rhyner Sales AG, Adliswil |
3 |
CH |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mammut Sports Group |
|
|
|
|
|
|
|
|
|
|
Mammut Sports Group AG, Seon |
|
CH |
CHF |
5,000,000 |
|
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 |
4 |
KR |
|
|
|
|
|
|
|
|
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 |
5 |
CH |
|
|
|
|
|
|
|
|
Bystronic Lenhardt GmbH, Neuhausen-Hamberg |
5 |
DE |
|
|
|
|
|
|
|
|
Bystronic Glass Machinery (Shanghai) Co. Ltd, Shanghai |
5 |
CN |
|
|
|
|
|
|
|
|
Bystronic Glass UK Ltd, Telford |
5 |
GB |
|
|
|
|
|
|
|
|
Bystronic Asia Pte. Ltd, Singapore |
5 |
SG |
|
|
|
|
|
|
|
|
LLC Bystronic Steklo RUS, Moscow |
5 |
RU |
|
|
|
|
|
|
|
|
Bystronic Glass (Shanghai) Co. Ltd, Shanghai |
5 |
CN |
|
|
|
|
|
|
|
|
Bystronic Glass, Inc., Aurora CO |
5 |
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 Increase investment from 51% to 70% on August 1, 2019, and from 70% to 100% on September 30, 2020
2 Merger with Conzzeta Grundstücksverwaltungs GmbH, Leverkusen DE, on December 2, 2020
3 Divested as of February 28, 2020
4 Liquidated as of December 30, 2020
5 Divested as of April 1, 2019