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1. Acquisitions and disposals of consolidated companies

Audited information

 

 

 

 

2019

 

 

 

2018

In CHF 1,000

Acquisitions

 

 

Disposals

 

 

Acquisitions

Disposals

 

Total

Régie du Rhône SA

Others

Total

Société d’investissement immobiliers SII SA

Others

Total

Total

Cash and cash equivalents

584

–38,873

–3,256

–42,129

106

406

512

–100

Trade and other current receivables

133

–14,939

–2,074

–17,013

19

158

178

–370

Investment properties and properties held for sale

45,133

-

–62,963

–62,963

130,616

5,474

136,090

–18,900

Fixed assets

42

–454

–742

–1,197

-

210

210

-

Financial assets

-

–101

–74

–175

-

6

6

-

Trade and other current liabilities

–933

48,794

11,479

60,274

–1,754

–225

–1,980

228

Non-current liabilities

–4,487

75

5,352

5,427

–22,357

–906

–23,263

1,388

Non-controlling interests

29

-

198

198

-

-

-

-

Net assets acquired/disposed of

40,500

–5,498

–52,080

–57,578

106,630

5,124

111,753

–17,754

Investments in associates 1)

-

-

578

578

-

-

-

-

Shareholder loan 1)

-

-

21,922

21,922

-

-

-

-

Subtotal

40,500

–5,498

–29,581

–35,078

106,630

5,124

111,753

–17,754

Goodwill (recognised in/derecognised from equity)

3,898

–8,284

–3,810

–12,094

-

36

36

-

Recognised income from disposal of properties

-

-

–3,682

–3,682

-

-

-

–6,529

Recognised income from disposal of subsidiaries 2)

-

–15,785

–2,453

–18,238

-

-

-

-

Purchase/selling prices, net

44,399

–29,567

–39,526

–69,093

106,630

5,160

111,790

–24,183

Cash and cash equivalents acquired/disposed of

–584

38,873

3,256

42,129

–106

–406

–512

100

Unpaid purchase price consideration

–1,650

-

3,758

3,758

-

-

-

-

Purchase price consideration paid/received in prior years

-

-

-

-

–10,800

-

–10,800

1,500

Purchase price consideration for acquisitions in prior years

-

 

 

-

 

 

5,000

-

Cash outflow on acquisitions

42,165

 

 

-

 

 

105,478

-

Cash inflow from disposals

 

 

 

–23,206

 

 

 

–22,683

1) With the sale of half of the 83% stake in La Foncière de la Dixence SA, the remaining 42% stake was recognised as an investment in associates. The previously eliminated shareholder loan was recognised as a financial asset.

2) Recoginised as separate line in the income statement within operating result. In the half-year report 2019 the respective income from disposal of subsidiaries in the amount of CHF 1.0 million was disclosed as financial income.

Transactions in 2019

On 1 January 2019, Régie du Rhône SA acquired and integrated the property management portfolio of DHR Immobilier SA.

On 28 February 2019, 100% of the shares in Régie du Rhône Crans-Montana SA, Lens, were sold.

On 25 March 2019, half of the investment in La Foncière de la Dixence SA, Lens, was sold. The remaining 42% stake in the company was recognised as an investment in associates.

On 27 June 2019, 100% of the shares in Valotel SA, Lens, were sold.

On 8 August 2019, 100% of the shares in Régie du Rhône SA, Lancy, were sold.

On 8 August 2019, Investis Properties SA acquired 100% of the shares in the real estate companies RGS Immobilier SA, Geneva, and Intercapital Development & Management SA, Geneva.

On 30 August 2019, Hauswartprofis AG acquired and integrated the facility services portfolio of Handwerker & OPTIVER AG, Ettingen.

On 18 November 2019, 100% of the shares in Chauffage-Assistances SA, Geneva, Clim-Assistance SA, Geneva, and Synergie Services Facility Management SA, Lancy, were sold.

On 13 December 2019, Hauswartprofis AG acquired and integrated the facility services portfolio of Geronet SA, Vernier.

On 18 December 2019, all shares held (60%) in C.T. Creative Technologies SA, Martigny, were sold.

In 2019, net assets acquired in an acquisition in 2018 had to be adjusted. The recognition of a newly identified liability of CHF 0.07 million reduced the net asset value of the acquired company and consequently led to an increase in goodwill offset against retained earnings of CHF 0.04 million and a reduction in non-controlling interests of CHF 0.03 million.

Transactions In 2018

On 1 February 2018, Investis Properties SA acquired 100% of the shares in the real estate
company Société d’investissements immobiliers SII SA, Geneva, and merged it into the
acquiring company.

On 1 February 2018, 100% of the shares in Domus Flavia Investments AG, Geneva, were
sold.

On 3 July 2018, Investis Properties SA acquired 100% of the shares in the real estate company Carmat S.A., Lausanne.

On 23 August 2018, Investis Investments SA increased its shareholding in the company La Foncière de la Dixence SA from 75% to 83%.

On 28 August 2018, 100% of the shares in Hotel Investissements et Management SA, Fribourg, were sold.

On 20 November 2018, Investis Investments SA acquired 60% of the shares in the company C.T. Creative Technologies SA, Martigny. The company provides services in the area of property management software solutions. 

Non-cash effects in 2018

With the signing of the purchase price agreement for the acquisition of Société dʼinvestissements immobiliers SII SA, Geneva, a deposit of CHF 10.8 million was paid in December 2017. As the transaction was completed only in February 2018, the corresponding cash outflow was reported as increase in other receivables in the net cash from operating activities (cash flow) in the Annual Financial Statements 2017.

With the signing of the purchase price agreement for the sale of Domus Flavia Investment AG, Geneva, a deposit of CHF 1.5 million was received in December 2017. As the transaction was completed only in February 2018, the corresponding cash inflow was reported as increase in other payables in the net cash from operating activities (cash flow) in the Annual Financial Statements 2017.

GROUP INTERNAL MERGERS in 2018

As at 1 January 2018 following Group companies were merged:

  • Casamar AG, Geneva, Jalu SA, Lens, Investis Patrimoine SA, Lens, Les Résidences Privées SA, Lens, Parallax SA, Geneva, Serge Spaggiari SA, Perly-Certoux, Transimo SA, Fribourg, and WEGRA Holding AG, Auenstein, were merged into Investis Properties SA, Lens.
  • Hauswartprofis Baar GmbH, Baar, Hauswartprofis Mägenwil AG, Mägenwil, Hauswartprofis ZH AG, Dübendorf, and Treos AG, Volketswil, were merged into hauswartprofis AG, Mägenwil.
  • Minas-Tirith SA, Wollerau, was merged into Investis Investments SA, Lens.

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