This section provides details of the various commitments and contingencies as well as information about the associated companies, the acquisitions, and the legal subsidiaries including the Group companiesʼ shareholdings.
Operating lease payments are charged to income (CHF 42.8 million in 2023/24 and CHF 37.1 million in 2022/23) on a straight-line basis over the lease term. The following table shows the future minimum lease payments resulting from non-cancellable operating leases:
|
CHF million |
|
Financial year ended 30.06.2024 |
|
Financial year ended 30.06.2023 |
|
Future payment commitments for operating leases |
|
171.7 |
|
119.9 |
|
Up to 1 year |
|
38.9 |
|
32.8 |
|
2 to 5 years |
|
83.1 |
|
65.5 |
|
Over 5 years |
|
49.7 |
|
21.6 |
Operating lease commitments mainly refer to the lease of buildings used for operational purposes.
The increase in future payment commitments for operating leases is primarily due to new lease agreements signed for production facility expansions in Canada and Bulgaria.
|
CHF million |
|
Financial year ended 30.06.2024 |
|
Financial year ended 30.06.2023 |
|
Current endorsement liabilities |
|
1.1 |
|
2.1 |
|
Investments committed to purchase from third parties: |
|
|
|
|
|
Property, plant, and equipment |
|
9.2 |
|
8.8 |
|
Intangible assets |
|
0.4 |
|
2.3 |
|
CHF million |
|
Financial year ended 30.06.2024 |
|
Financial year ended 30.06.2023 |
|
Investments in associates - 30 June |
|
0.0 |
|
0.9 |
|
Increase of investments in associates |
|
0.0 |
|
0.0 |
|
Sale of investments in associates |
|
–1.0 |
|
0.0 |
|
Share of profit (loss) |
|
0.1 |
|
0.6 |
|
Translation exchange differences |
|
0.0 |
|
0.0 |
|
Investments in associates - 1 July |
|
0.9 |
|
0.3 |
|
Result from associates |
|
11.6 |
|
0.6 |
|
Share of profit (loss) |
|
0.1 |
|
0.6 |
|
Profit from sale of investments in associates |
|
11.5 |
|
0.0 |
The following table summarizes all considerations paid for businesses, as well as the assets and liabilities acquired and recognized at fair value as at the acquisition date for the 2023/24 financial year and 2022/23 in comparison.
|
CHF million |
|
Financial year ended 30.06.2024 |
|
Financial year ended 30.06.2023 |
|
|
|
Total |
|
Total |
|
Total consideration |
|
–2.1 |
|
8.9 |
|
Cash paid |
|
4.2 |
|
8.7 |
|
Deferred payment |
|
–6.3 |
|
0.0 |
|
Acquisition-related costs |
|
0.0 |
|
0.2 |
|
Identifiable assets and liabilities |
|
0.0 |
|
0.8 |
|
Cash and cash equivalents |
|
0.0 |
|
1.1 |
|
Trade receivables |
|
0.0 |
|
0.7 |
|
Property, plant, and equipment |
|
0.0 |
|
0.1 |
|
Trade payables |
|
0.0 |
|
–0.3 |
|
Accrued and other current liabilities |
|
0.0 |
|
–0.8 |
|
Goodwill 1 |
|
–2.1 |
|
8.1 |
1 Goodwill is capitalized or adjusted within intangible assets and disclosed in note on property, plant, and equipment/intangible assets (2.3).
In the period reported, no acquisitions were made. The change in deferred payments of CHF 6.3 million is related to acquisitions from previous years. Of this amount, CHF 4.2 million was paid out, while CHF 2.1 million was adjusted against goodwill. Goodwill is capitalized within intangible assets and disclosed in the note on property, plant, and equipment/intangible assets (2.3).
In the previous year, dormakaba acquired Alldoorco based in Nijkerk (NL) as per 1 August 2022. Alldoorco contributed CHF 5.9 million to the net sales in the financial year ended 30 June 2023 and generated net sales of CHF 0.5 million from 1 July 2022 until the acquisition date.
In the period reported and in the previous year, no material divestments were made.