BUSINESS OPERATIONS AND VALUE CREATION
■ 7.2 Acquisitions, assets classified as held for sale and operations disposed of
Financial information summary of other than essential associated companies
Share of result from other associated compa- nies Carrying value in consolidated balance sheet
Accounting principles Acquired business operations are consolidated from the time when control is transferred to the Group, and divested operations are consolidated until the time when control is transferred awayfrom the Group. The consideration paid, including the contingent sales price and the identifiable assets and liabilities of the acquired business operations, are measured at fair value at the time of acquisition. Expenses related to acquisitions are recognised as costs. Depending on the acquisition, the non-controlling interests’ share in the object of the acquisition is recognised at fair value or the amount that corresponds to the non-controlling interests’ proportion of the net assets of the object of the acquisition The amount by which the sum of the consideration paid, the fair value of the non-controlling interests’ share and the fair value of the assets previously owned in the object of the acquisition exceed the fair value of the identifiable net assets is recognised as goodwill. Assets held for sale are recognised at the lower of the book value or fair value less expenses arising from the divestment. Deprecia- tion is not recognised on assets held for sale after classification.
Joint ventures Kemishipping Oy offers logistics services in Kemi, Finland. At the end of November 2021, Metsä Board sold the joint venture Kemishipping Oy to Metsäliitto Cooperative. The transaction resulted in a sales loss of EUR 0.3 million.
Result for the period
Result for the period includes the following items: Depreciation, amortisation and impairment charges
1.3 0.1 0.0
Dividends received from Joint Ventures
Non-current assets Current assets Non-current liabilities Current liabilities
Acquired businesses On 1 January 2022, Metsä Board acquired the entire share capital of Hämeenkyrön Voima Oy from Pohjolan Voima Oyj (84%) and from DL Power Oy, part of Leppäkoski group (16%). Hämeenkyrön Voima Oy was merged to Metsä Board Oyj on 31 July 2022.
Group's share of net assets Joint venture carrying value in consolidated balance sheet
Hämeenkyrön Voima Oy
Intangible assets Tangible assets
Accounts receivables and other receivables
Cash and cash equivalent
Deferred tax liabilities
Financial liabilities, non-current Financial liabilities, current Accounts payable and other liabilities
Goodwill / Other operating expenses
Cash and cash equivalents in subsidiaries Net cash flow arising on acquisitions
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