PDF (3.6 MB) - Valora

in cHF 000
Financial RepoRt ValoRa 2009
notEs to tHE consolIdatEd fInancIal statEmEnts
Fair Value Book values
in the acquired
entity’s books
current assets 3 074 3 074
non-current assets 8 493 8 684
current liabilities – 978 – 978
non-current liabilities 0 0
= Net assets /shareholders’ equity acquired 10 589 10 780
Goodwill 2 976
Derecognition of joint venture – 10 000
= Purchase costs 3 565
cash purchase price paid 3 565
cash and cash equivalents acquired – 91
cumulative translation adjustments 82
= Cash flow from acquisition of new Group companies 3 556
Valora’s Own Brands companies, which had already been classified as discontinued operations
in the 2007 financial statements, were sold in the first half of 2008 (see note 7).
7 dIsCoNTINUEd oPErATIoNs
During the first half of 2008, the Group sold its Trade division’s Own Brands companies, which
had already been classified as discontinued operations. Roland Murten AG, Kägi Söhne AG and
Cansimag France SA were sold as a single package. Sale of these three units was backdated to February
29, 2008, while that of Gillebagaren AB was backdated to April 30, 2008 and the sale of Sørlandschips
AS was backdated to May 31, 2008. The results generated by the units sold until control
over them was transferred to their new owners, including net book profits arising from their sale,
are shown as net profit from discontinued operations in the consolidated financial statements.
In 2009 it was possible to release provisions established for guarantees made in connection with
the disposal of Sørlandchips AS, Roland Murten AG, Kägi Söhne AG and Cansimag France SA which
were no longer needed.
Income statement for discontinued operations
January 1 – december 31, in cHF 000
2009 2008
net revenues 0 42 018
Gross profit 0 22 954
operating expenses 0 – 18 248
other income, net 1 868 2 919
operating profit (EBIT) 1 868 7 625
Financial result 0 – 387
Profit before taxes 1 868 7 238
income taxes 0 – 330
operating profit 1 868 6 908
accumulated currency translation differences 0 7 819
Net profit from discontinued operations 1 868 14 727
71