4.8Acquisitions and disposals of consolidated companies

2025

2024

CHF 1,000

Acquisitions

Disposals

Acquisitions

Disposals

Total

Total

Total

Real Estate Services 1)

Others

Total

Cash and cash equivalents

-

-

147

–8,315

–41

–8,356

Trade and other current receivables

-

-

327

–24,467

–150

–24,617

Investment properties

-

-

-

-

-

Tangible fixed assets

-

-

71

–7,256

-

–7,256

Intangible assets 2)

-

-

260

–6,343

-

–6,343

Other non-current assets

-

-

0

–680

–29

–709

Trade and other current liabilities

-

-

–128

20,638

140

20,778

Non-current liabilities

-

-

–42

609

-

609

Non-controlling interests

-

-

-

-

110

110

Net assets acquired/disposed

-

-

636

–25,815

29

–25,786

Goodwill (recognised in equity)

-

-

806

–95,218

-

–95,218

Recognised income from disposal of subsidiaries

-

-

-

–122,158

–112

–122,271

Purchase/selling prices

-

-

1,442

–243,192

–83

–243,276

Cash and cash equivalents acquired/disposed

-

-

–147

8,315

41

8,356

Cash outflow on acquisitions

-

-

1,294

-

Cash inflow from disposals

-

–234,877

–42

–234,919

1)On 24 June 2024, the entire Real Estate Services segment, consisting of the companies Privera AG, hauswartprofis AG, Rohr AG, analysis lab SA, Aatest AG, Home Service Aktiengesellschaft and Valores AG, was sold. The discontinued operation (including AGD AG, which was sold on 26 March 2024) generated – up to the disposal date – revenue of CHF 89.9 million and an operating profit (EBIT) of CHF 8.8 million.

2)Acquired intangible assets relate to previously unrecognised intangible assets relevant to the acquisition of control.

TrANSACTIONS in 2025

None.

TRANSACTIONS IN 2024

On 11 January 2024, Hauswartprofis AG acquired 100% of the shares in the facility services company Olbara AG, Olten, and merged it into the acquiring company. The acquired company contributed revenue of CHF 0.8 million in 2024. Prior to the acquisition date, the company generated revenue of CHF 0.0 million in the current year.

On 26 March 2024, all shares held (53%) in AGD Renovationen AG, Neuenhof, were sold.

On 24 June 2024, 100% of the shares in the following Real Estate Services segment companies were sold:

  • Privera AG, Muri bei Bern
  • hauswartprofis AG, Mägenwil
  • Rohr AG, Hausen (AG)
  • analysis lab SA, Bienne
  • Aatest AG, Lenzburg
  • Home Service Aktiengesellschaft, Hauswartung Gartenpflege, Zurich
  • Valores AG, Mägenwil

On 19 December 2024, all shares held (72%) in Perty Technologies SA, Morges, were sold.

GROUP INTERNAL MERGERS IN 2024

As at 1 January 2024, the following Group companies were merged:

  • ProLabo Sàrl, Sion, has been merged into analysis lab SA, Bienne.
  • Marvi Holding SA, Geneva, has been merged into Investis Properties SA, Baar.

Accounting principles

Companies acquired by the Investis Group are included in the consolidated financial statements from the date of obtaining control. Assets acquired and liabilities assumed are recognised as of the date when control is obtained and measured at their acquisition-date fair values. Intangible assets not previously recognised for an acquired subsidiary that are relevant to the acquisition of control are identified and recognised. Any difference between the higher purchase price and the net assets acquired (goodwill) is offset against retained earnings. Where an offset takes place with retained earnings, the impact of this theoretical capitalisation and amortisation over its useful life is disclosed separately in the notes. The estimated useful life does not exceed 20 years. If the useful life cannot be determined, amortisation over 5 years takes place. In a business acquisition achieved in stages (including transactions with minorities), the goodwill is determined on each separate transaction and offset against retained earnings.

Companies sold are excluded from the scope of consolidation as of the date on which the Group ceases to have control, with any gain or loss (after goodwill recycling) recognised in the operating result.