5 Sale of companies
Hammer Retex AG, together with its facility management service operation for third parties, was divested for CHF 0.7 million on 28 March 2018. CHF 0.25 million of the purchase price was settled in cash at the time of sale. The remaining payments will be made in staggered instalments until 31 March 2021.
At the time of deconsolidation, revenue from the divested business operation was at CHF 0.9 million and net profit at CHF 0.0 million.
The disposal of net assets resulted in earnings from the sale of companies of CHF 2.05 million, which were taken to the income statement as a component of the item Income from real estate management services.
CHF million | 28.03.2018 | |
Other property, plant and equipment | 0.04 | |
Deferred tax assets | 0.60 | |
Other receivables | 0.86 | |
Cash | 0.48 | |
Assets | 1.98 | |
Provisions | 2.98 | |
Tax liabilities | 0.05 | |
Other liabilities | 0.25 | |
Equity and liabilities | 3.28 | |
Net assets divested | –1.30 | |
Sale price | –0.75 | |
Income from sale of companies | 2.05 | |
Purchase price in cash | 0.25 | |
Cash divested | –0.48 | |
Net cash disposal | –0.23 |