Anders Hedin Invest Årsredovisning 1
NOTE 32 NON-CASH-FLOWING ITEMS Depreciation Impai
rment of financial assets Negative goodwill Unrealized exchange rate differences Result of sale of non-current assets Share of profits in associated companies Provisions/receivables relating to pensions 1/1/2017 - 12/31/2017 223,652 0 -20,401 929 84,490 -4,559 -3,460 280,651 NOTE 33 CASH FLOW STATEMENT Acquisitions in 2017 On January 2, I.A. Hedin Bil AB through Hedin Mölndal Bil AB Ford movement in southern Stockholm from Bilia. The purchase price amounted to SEK 54,050,000, incl. a goodwill of SEK 8,000,000. Ana Motorcentrum AB, with operations in Trollhättan and Lysekil, was acquired on May 2. The purchase price amounted to SEK 313,000. The negative goodwill arising on SEK 10,000,000 relates to the compensation for restructuring costs and has been recognized as income on acquisition. On May 18, PCB Västsverige AB was acquired, including two real estate companies that are considered to be a business lease. The company is a Porsche dealer and its operations are conducted from three plants in Mölndal, Borås and Linköping. The purchase price of SEK 147,500,000 includes a goodwill of SEK 91,380,000 that is attributable to synergies and future sales. The properties were sold after being acquired The acquisition costs amount to approx. SEK 200,000. On June 26, 51% of the shares in Tuve Holding AB were acquired. The purchase price amounted to SEK 86,140,000, incl. a goodwill of SEK 60,033,000. Miklagruppen AS was acquired on October 18. The acquisition includes Bavaria Norge AS, Bavaria Sverige AB, KC Motors AB and GS Bildeler AS The group is a dealer of BMW and MINI in Sweden and Norway, Porsche in Norway and KIA in Sweden. The operations are conducted from 24 full service facilities. The purchase price amounted to SEK 1,149,784. This includes the acquired customer relations of 285,365,000. Goodwill of SEK 796,348,000 is attributable to synergies with other car operations and future sales. The acquisition costs amount to approx. SEK 300,000. Miradena AB was acquired on November 1. The purchase price amounted to SEK 8,800,000 and includes a goodwill of SEK 3,787,000. The goodwill is attributable to synergies with import business. JC Eriksson Bilteam was acquired in Gävle AB on December 20 for SEK 1. The negative goodwill arising on SEK 10,401,000 has been recognized in the acquisition. 1/1/2016 - 12/31/2016 196,252 -32 -19,258 339 -554,002 -857 -3,316 -380,874 Acquisitions in 2016 On March 1, 2016, Johan Klasen Bil AB was acquired for SEK 10,000,000. They are engaged in automotive operations in Halmstad. The goodwill of SEK 4,194,000 arising from the acquisition refers to synergy effects with other operations in Halmstad. Biva AB was acquired for SEK 3,067,000 on April 18, 2016. The negative goodwill of TSEK 17,134 that arose refers to payment for restructuring costs that were expensed in conjunction with the acquisition. Bilcity in Kristianstad AB was also acquired for SEK 9,097,000 on April 18, 2016. Goodwill totaling TSEK 5,500 has been reported and is attributable to synergy effects with existing vehicle operations, in particular with other operations in Kristianstad. On May 2, 2016, I.A. Hedin Bil AB through Hedin Mölndal Bil AB Ford operations in southern Gothenburg and Kungsbacka from Bilia AB. The purchase sum of SEK 41,727,000 includes goodwill of SEK 22,000,000. Pro-imp AB and Wheelspot AB were acquired on June 1, 2016, The purchase sum was SEK 25,120,000 and includes goodwill totaling SEK 13,013,000. The goodwill is attributable to synergy effects and complements existing tire operations. Bilfirman Lars Pettersson AB was acquired for SEK 2,825,000 on September 1, 2016. Negative goodwill of SEK 2,214,000, which refers to payment for restructuring costs, was reported as revenue in conjunction with the acquisition. On September 1, 2016, I.A Hedin Bil AB through Hedin Mölndal Bil AB, acquired the vehicle operations of CMS Group AB, which comprise the Ford vehicle facility in north Gothenburg. The purchase sum was SEK 20,026,000. The total value of the acquired assets and liabilities is shown in the table below, which also shows cash flow effects related to the acquisitions. 98 ANDERS HEDIN INVEST AB / ANNUAL REPORT / 2017