Note 5 Business combinations
2023
There have been no business combinations in 2023.
During the year assets have been acquired through share acquisitions (asset acquisitions that are not business combinations) which resulted in a cash flow of SEK -106 million and primarily refer to project and development properties with development rights in Sweden and Norway.
Acquisitions after the balance sheet date
No material business combinations have transpired in 2024 prior to the presentation of these financial reports.
On January 12, 2024 Peab took over 50 percent of the shares in Sicklaön Bygg Invest AB, which wholly and partly owns development rights in Kvarnholmen in Nacka (asset acquisition that does not include a business). For more information see section Other information and appropriation of profit.
2022
December 20, 2022 Peab acquired 90.4 percent of the shares in the civil engineering company Arne Olav Lund A/S based in Larvik. The company works throughout eastern Norway with production and improvement of roads, water and waste water as well as with groundwork and landscaping.
July 1, 2022 Peab also acquired 100 percent of the shares in Asfaltti-System Oy. Asfaltti-System Oy is a company in Kouvola in southern Finland that works with manufacturing components and maintenance in the asphalt and concrete industry.
The above acquisitions in 2022 individually had no material acquisition effects from the Group’s perspective and information on acquisition effects is given collectively.
In the period after the acquisitions the above subsidiaries and operations contributed SEK 7 million to Group revenue and SEK -1 million to Group profit/loss in 2022. If the acquisitions had occurred on January 1, 2022, the combined effect of these acquisitions on Group revenue would have been SEK 410 million and SEK 13 million on Group profit/loss.
Total transferred compensation amounted to SEK 170 million.
During the year assets have also been acquired through share acquisitions (asset acquisitions that are not business combinations) which resulted in a cash flow of SEK -408 million and primarily refer to project and development properties with development rights in Sweden and Norway.
The acquired companies’ net assets at the time of acquisition:
| MSEK | 2022 | |
| Mkr | 2022 | |
| Intangible assets | Immateriella anläggningstillgångar | 20 |
| Tangible assets | Materiella anläggningstillgångar | 137 |
| Project and development properties and inventories | Projekt- och exploateringsfastigheter samt varulager | 5 |
| Accounts receivable and other receivables | Kundfordringar och övriga rörelsefordringar | 94 |
| Liquid funds | Likvida medel | 19 |
| Interest-bearing liabilities | Räntebärande skulder | -21 |
| Interest-bearing liabilities (leasing) | Räntebärande skulder (leasing) | -67 |
| Deferred tax liabilities | Uppskjutna skatteskulder | -30 |
| Provisions | Avsättningar | -4 |
| Accounts payable and other current liabilities | Leverantörsskulder och övriga rörelseskulder | -52 |
| Net identifiable assets and liabilities | Netto identifierbara tillgångar och skulder | 101 |
| Non-controlling interests | Innehav utan bestämmande inflytande | -8 |
| Group goodwill | Koncerngoodwill | 77 |
| Consideration transferred | Överförd ersättning | 170 |
Settled consideration
| MSEK | 2022 | |
| Mkr | 2022 | |
| Liquid funds | Likvida medel | 151 |
| Contingent consideration | Villkorad köpeskilling | 19 |
| Total settled consideration | Totalt reglerad ersättning | 170 |