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3 Change in scope of consolidation and significant transactions
Autoneum’s US subsidiary UGN Inc. sold its business in Chicago Heights (Illinois), USA, to an affiliate
of Angeles Equity Partners, LLC, headquartered in Los Angeles (California), USA, on February 2, 2016.
With this transaction, UGN Inc. adjusted its product portfolio in the USA. In 2015, the business dispo-
sed of contributed third-party net sales in the amount of CHF 56.0 million.
The initial purchase price of CHF 44.7 million was received in cash at the closing date of the
transaction and the post-closing purchase price adjustment of CHF 0.4 million was settled in the
reporting period. The gain from disposal of business in the amount of CHF 33.2 million is recorded
in 2016, whereas directly attributable costs in the amount of CHF 0.3 million were recorded already
in 2015. Details of the transaction are disclosed below:
CHF million
February 2, 2016
Tangible assets
5.8
Inventories
1.2
Trade receivables and other assets
4.0
Trade payables and other liabilities
–1.8
Net assets disposed of
9.2
Initial purchase price
44.7
Post-closing purchase price adjustment
–0.4
Net assets disposed of
–9.2
Directly attributable costs
–2.0
Gain from disposal of subsidiary or business
33.2
Proceeds from disposal of subsidiary or business
42.4
In 2016, the company Autoneum (Shanghai) Management Co. Ltd., Shanghai, China was established.
4 Segment information
Segment information is based on Autoneum Group’s internal organization and management structure
as well as on the internal financial reporting to the Group Executive Board and the Board of Directors.
Chief operating decision maker is the CEO.
Autoneum is the globally leading automobile supplier in acoustic and thermal management for
vehicles. Autoneum develops and produces multifunctional and lightweight components and systems for
noise and heat protection and thereby enhances vehicle comfort.
The reporting is based on the following four reportable segments (Business Groups): BG Europe,
BG North America, BG Asia and BG SAMEA (South America, Middle East and Africa). Corporate
and elimination include Autoneum Holding Ltd and the corporate center with its respective legal
entities, an operation that produces parts for Autoneum’s manufacturing lines, investments in
associates, and inter-segment elimination. Transactions between the Business Groups are made on
the same basis as with independent third parties.
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Autoneum
Financial Report 2016
Consolidated Financial Statements