Business combinations
Business combinations under IFRS 3 exist when an entity acquires control over one or more business operations through the acquisition of shares or other events. Business operations within the meaning of IFRS 3 are integrated sets of activities and assets that are managed with the aim of generating income or achieving cost reductions or other economic benefits for the shareholders or other owners, partners or members. The establishment of joint ventures and the combination of entities under common control do not represent business combinations within the meaning of IFRS 3.
In a business combination achieved in stages, the acquirer remeasures its previously held equity interest in the acquiree at its acquisition-date fair value and recognizes the resulting gain or loss in profit or loss.
No business combinations were carried out in the reporting year.
Other changes in group of consolidated companies
AUTOMOBILE Division
Companies accounted for using the equity method (associates)
In December 2023, BLG Automobile Logistics GmbH & Co. KG established BLG Logistics (Shanghai) Co., Ltd., Shanghai, People’s Republic of China. As a distributor, the company will be responsible for bundling all logistics services and further expanding the service potential in China.
CONTRACT Division
Companies accounted for using the equity method (joint ventures)
As a consequence of the withdrawal from the Indian market, BLG Industrielogistik GmbH & Co. KG sold its shares in BLG Parekh Logistics Pvt. Ltd., Mumbai, India, with purchase and sale agreement of February 1, 2023. The associated deconsolidation resulted in expenses of EUR 70 thousand, which are reported in the non-operating result under other operating expense.
Companies accounted for using the equity method (associates)
Under a sale and purchase agreement dated January 30, 2023, BLG Industrielogistik GmbH & Co. KG, Bremen, sold its shares in BLG SWIFT LOGISTICS Sdn. Bhd., Kuala Lumpur, Malaysia. The income from the deconsolidation of EUR 438 thousand is included under other operating income in the non-operating result.