Annual Report 2012.pdf - Cherry

Part 2 notes
Note 30: Acquisition of companies
ADJUSTMENTS IN 2012 OF PREVIOUS ACQUISITIONS
AUTOMATENGRUPPEN
The terms and conditions required for payment of the conditional proceeds
have not been met. The liability for these proceeds has therefore
been valued to zero. Since the acquisition was implemented after IFRS 3
began to be applied, the revaluation of SEK 73 446 thousand (23 828)
has been reported in the income statement (included in Other operating
income) in the consolidated financial statements.
Note 32: Discontinued operations
MARITIME OPERATIONS
Cherry completed on 8 November 2012 the sale of all shares in Cherry
Maritime Gaming AB, Astral Maritime Services Ltd and Cherry Services
Ltd to Bell Casino AB. The discontinued operations have previously comprised
the Maritime segment, which has now been completely discon-
58 | annual report 2012
The goodwill attributable to the Automaten group has undergone an
impairment test, whereby a write-down requirement of SEK 73 447
thousand was identified. See also Note 15.
During the year no payments concerning conditional proceeds have
been made for the Automaten group.
Note 31: Transactions with holdings without controlling influence
TRANSACTIONS 2012
On 23 February 2012 Cherry reached an agreement on the acquisition of
additional shares in the partly-owned subsidiary Cherry Services Ltd and
in Briseis Development Corporation. Cherry previously owned 55 percent
of the shares and votes in the companies and the agreement concerns the
remaining 45 percent. The proceeds amounted to SEK 1 382 thousand
and were paid in cash on entry.
Since Cherry already had a controlling influence in the company, the acquisition
was reported as equity transactions in accordance with IAS 27.
Cherry Services Ltd and Briseis Development Corporation were included
in the Maritime business operations that were discontinued during the
year.
tinued as a result of the sale. Cherry received total proceeds of SEK 36.3
million for shares, dividends from the sold companies and repayment of
group loans that had been issued to the discontinued companies.
Analysis of results from discontinued operations 2012 2011
Earnings 67 733 99 108
Operating expenses -64 874 -96 538
Depreciation -3 637 -6 280
Result from discontinued operations before tax -778 -3 710
Income tax 154 -477
Result from discontinued operations after tax -624 -4 187
Capital loss - -
Profit for the year from discontinued operations -624 -4 187
Cash flow attributable to discontinued operations
Cash flow from operating activities -2 914 3 623
Cash flow from investment operations 24 386 -2 206
Cash flow from financing operations -1 774 324
Total cash flow 19 698 1 741