Page 97 - Loomis Annual Report 2017

Loomis Annual Report 2017
Notes – Group 93
acquistion would have contributed approximately SEK 84 million to total revenue and approximately SEK 15 million to net income for the year.
Total transaction costs for the acquisition amounted to approx- imately SEK 2 million and have been recognized on the line item Acquisition related costs.
Acquisition of Wagner Seguridad Custodia y Transporte de Valores
Loomis has acquired all of the shares in the Chilean company Wagner Seguridad Custodia y Transporte de Valores. The pur- chase price amounted to SEK 254 million (USD 31 million). The acquired operation was consolidated by Loomis as of Decem- ber 20, 2017.
Summarized balance sheet as of the acquisition date, Decem- ber 20, 2017.
Summarized balance sheet as of the acquisition date, August 31, 2017.
SEK m
Operating xed assets Accounts receivable Other assets
Other liabilities
Total operating capital employed
Goodwill
Other acquisition-related intangible assets
Other capital employed
Total capital employed
Net debt, acquired
Total acquired net assets
Purchase price paid
Total purchase price paid
Purchase price paid
Liquid funds in accordance with acquisition analysis
Total negative impact on the Group’s liquid funds
Fair value acquisition balance
36 39 5 –17 63
160
61 –16
268
–14
254
254
254
–254
7
–247
SEK m
Operating xed assets Accounts receivable Other assets
Other liabilities
Total operating capital employed
Goodwill
Other acquisition-related intangible assets
Other capital employed
Total capital employed
Net debt, acquired
Total acquired net assets
Purchase price paid Deferred consideration
Total purchase price paid
Purchase price paid
Liquid funds in accordance with acquisition analysis
Total negative impact on the Group’s liquid funds
Fair value acquisition balance
1 4 5
–4
6
6
6 –2
16
–1
15
11 4
15
–11
2
–9
The acquistion of Wagner increased Loomis’ geograhical foot- print in Latin America and gives Loomis the possibility to partici- pate and transform the Chilean cash handling market. The acquisition has contributed approximately SEK 8 million to total revenue and approximately SEK 0 million to net income for the year. In consolidated as of January 1, 2017, the acquistion would have contributed approximately SEK 225 million to total revenue and approximately SEK 26 million to net income for the year.
Total transaction costs for the acquisition amounted to approx- imately SEK 2 million and have been recognized on the line item Acquisition related costs.
Other acquisitions
A small acquistion was made in August 2017. The purchase price amouted to SEK 15 million. The acquired operation was consolidated by Loomis as of August 31, 2017.
The acquisition has contributed approximately SEK 10 million to total revenue and approximately SEK 0 million to net income for the year. In consolidated as of January 1, 2017, the acquistion would have contributed approximately SEK 39 million to total revenue and approximately SEK 3 million to net income for the year.
Total transaction costs for the acquisition amounted to approx- imately SEK 0 million and have been recognized on the line item Acquisition related costs.
Other
As of December 31, 2017, the Group as a whole had deferred considerations totaling SEK 79 million, whereof SEK 4 million is due for payment in 2018.
Impairment testing
For the purpose of impairment testing, assets are allocated
to the lowest levels for which there are identi able cash ows (cash generating units), i.e. by country or several countries where there are integrated operations under joint management. Goodwill divided between the cash generating units breaks down as follows:
Dec. 31, 2017
17
75
160
22
105
365
1
298
2
427
289
17
17
21
2,983
815
5,615
Argentina Belgium Chile Denmark Finland France
Por tugal Switzerland Slovakia Spain
UK
Sweden
Czech Republic Turkey
USA International
Total
WACC*, %
25.6 (22.7) n/a (n/a) n/a (n/a) 6.1 (6.1) n/a (n/a) 7.9 (7.2) 10.4 (10.9) 7.5 (6.2) 8.7 (9.5) 8.6 (8.3) 7.1 (6.7) 6.0 (6.0) 8.8 (8.9) 16.8 (17.4) 7.8 (7.1) 8.7 (8.4)
Goodwill, SEK m
Dec. 31, 2016
23 – – 14 – 354 1 315 2 414 292 12 16 25 3,295 862 5,626