3 CHANGE IN SCOPE OF CONSOLIDATION: ACQUISITION THROUGH BUSINESS COMBINATION

Based on an asset deal, the Group acquired certain assets from its long-standing distributor in South Korea. In addition, all former employees were transferred to the subsidiary Tecan Korea Ltd., which was established in December 2023 to strengthen and expand the Group’s business activities in Korea.

 

The fair value of the identified assets and the cash outflow at the date of acquisition were:

 

 

01.02.2024

Asset deal with former distributor

CHF 1,000

 

Inventories

870

Non-current financial assets

34

Property, plant and equipment

42

Customer relationships (intangible asset)

348

 

 

Total identifiable assets at fair value

1,294

 

 

Goodwill

-

 

 

Consideration transferred for the business combination

1,294

 

 

Contingent consideration

(425)

 

 

Net cash outflow

869

From the date of acquisition, the asset deal contributed sales to third parties of CHF 0.3 million and operating profit of CHF -0.6 million to the Group’s results. If the acquisition had occurred on January 1, 2024, management estimates that the consolidated sales would have been CHF 467.2 million and the consolidated operating profit would have been CHF 25.9 million for the first half of 2024. The Group incurred acquisition-related costs of CHF 0.2 million for legal advice and due diligence costs. These costs have been included in ‘general and administration’.