The Group only has wholly owned subsidiaries. It also has three joint ventures, with an ownership interest of 50% (see further note 28).

Overview of Group entities

The following table provides an overview of all of the Group’s subsidiaries and joint ventures. The ownership and voting interests are the same for all Group entities. The ownership interests are the same as of 31 December 2019 and 31 December 2018, unless specifically stated. The reporting date of all Group entities is 31 December, with the exception for SIG Combibloc Australia Pty Ltd. (see footnote 3 of the table).

The table does not list subsidiaries of the Group’s joint ventures. In the context of the SIX Exchange Regulation Directive on Information relating to Corporate Governance, subsidiaries of the Group’s joint ventures are only listed if considered material. A subsidiary of a joint venture is considered material if its revenue correspond to more than 5% of the total revenue of such joint venture in the relevant year.

 

 

As of 31 December 2019

Companies

 

Share capital (11)

 

 

 

Interest

(1)

Prior to the IPO, the parent company was SIG Combibloc Group Holdings S.à r.l. with its domicile in Luxembourg. In September 2018, it converted from a Luxembourg limited liability company (“société à responsabilité limitée”) into a Luxembourg corporation (“société anonyme”). SIG Combibloc Group Holdings S.A. then migrated its legal seat from Luxembourg to Switzerland and was reorganised as a stock corporation (“Aktiengesellschaft”) and changed its name to SIG Combibloc Group AG.
The registered address of SIG Combibloc Group AG is Laufengasse 18, 8212 Neuhausen am Rheinfall, Switzerland. The registered address of SIG Combibloc Group Holdings S.à r.l. was 6C, rue Gabriel Lippmann, L-5365 Munsbach, Grand Duchy of Luxembourg.

(2)

Established in the third quarter of 2019 and was the acquiring entity of Visy Cartons Pty Ltd. (see footnote 3 below and note 27).

(3)

Visy Cartons Pty Ltd. was acquired in the fourth quarter of 2019 (see note 27) and renamed to SIG Combibloc Australia Pty Ltd. Its reporting date is 30 June.

(4)

In liquidation.

(5)

SIG Combibloc Holding GmbH was merged with SIG Euro Holding GmbH in the third quarter of 2019.

(6)

In liquidation.

(7)

SIG Combibloc Holdings GP S.à r.l was liquidated in the second quarter of 2019.

(8)

Previously SIG Combibloc Holdings S.C.A. The Company was converted into a société à responsabilité limitée in the fourth quarter of 2018.

(9)

Previously SIG Combibloc Group AG, renamed to SIG Combibloc Services AG in the third quarter of 2018.

(10)

The functional currency of SIG Schweizerische Industrie-Gesellschaft GmbH changed from Swiss Francs to Euro in the year ended 31 December 2018. The IPO and the refinancing that took place, with consequential changes to the Group’s set up of intra-group loans and flows of funds, triggered the change. The change in functional currency has been accounted for prospectively from the date of change.

(11)

Unaudited.

Parent company

 

 

 

 

 

 

Switzerland

 

 

 

 

 

 

SIG Combibloc Group AG, Neuhausen am Rheinfall (1)

 

3,200,532

 

CHF

 

100%

Subsidiaries

 

 

 

 

 

 

Argentina

 

 

 

 

 

 

Combibloc S.R.L., Buenos Aires

 

151,876,270

 

ARS

 

100%

Australia

 

 

 

 

 

 

SIG Australia Holding Pty Ltd., Melbourne (2)

 

32,100,000

 

AUD

 

100%

SIG Combibloc Australia Pty Ltd., Broadmeadows (3)

 

40,000,001

 

AUD

 

100%

Whakatane Mill Australia Pty Ltd., Melbourne (4)

 

10

 

AUD

 

100%

Austria

 

 

 

 

 

 

SIG Austria Holding GmbH, Saalfelden

 

1,000,000

 

EUR

 

100%

SIG Combibloc GmbH, Saalfelden

 

35,000

 

EUR

 

100%

SIG Combibloc GmbH & Co. KG, Saalfelden

 

4,500,000

 

EUR

 

100%

Bangladesh

 

 

 

 

 

 

SIG Combibloc Bangladesh Ltd., Dhaka

 

50,000,000

 

BDT

 

100%

Brazil

 

 

 

 

 

 

SIG Beverages Brasil Ltda., São Paulo

 

109,327,434

 

BRL

 

100%

SIG Combibloc do Brasil Ltda., São Paulo

 

722,386,462

 

BRL

 

100%

Chile

 

 

 

 

 

 

SIG Combibloc Chile Ltda., Santiago

 

5,016,722,134

 

CLP

 

100%

China

 

 

 

 

 

 

SIG Combibloc (Suzhou) Co., Ltd. Suzhou

 

75,000,000

 

USD

 

100%

Czech Republic

 

 

 

 

 

 

SIG Combibloc s.r.o., Hradec Kralove

 

19,340,000

 

CZK

 

100%

France

 

 

 

 

 

 

SIG Combibloc S.à.r.l., Asnières Cedex

 

31,000

 

EUR

 

100%

Germany

 

 

 

 

 

 

SIG Combibloc GmbH, Linnich

 

34,494,382

 

EUR

 

100%

SIG Combibloc Holding GmbH, Linnich (5)

 

 

 

 

SIG Combibloc Systems GmbH, Linnich

 

1,000,000

 

EUR

 

100%

SIG Combibloc Zerspanungstechnik GmbH, Aachen

 

256,000

 

EUR

 

100%

SIG Euro Holding GmbH, Linnich (5)

 

10,000,000

 

EUR

 

100%

SIG Information Technology GmbH, Linnich

 

500,000

 

EUR

 

100%

SIG International Services GmbH, Linnich

 

1,000,000

 

EUR

 

100%

Hungary

 

 

 

 

 

 

SIG Combibloc Kft., Budapest (6)

 

84,300,000

 

HUF

 

100%

India

 

 

 

 

 

 

SIG Combibloc India Private Ltd., Gurgaon, Haryana

 

10,000,000

 

INR

 

100%

Indonesia

 

 

 

 

 

 

P.T. SIG Combibloc Indonesia, Jakarta Selatan

 

13,549,682,000

 

IDR

 

100%

Italy

 

 

 

 

 

 

SIG Combibloc S.r.l., Parma

 

101,400

 

EUR

 

100%

Korea

 

 

 

 

 

 

SIG Combibloc Korea Ltd., Seoul

 

260,000,000

 

KRW

 

100%

Luxembourg

 

 

 

 

 

 

SIG Combibloc Holdings GP S.à r.l., Munsbach (7)

 

 

 

 

SIG Combibloc Holdings S.à r.l., Munsbach (8)

 

2,000,001

 

EUR

 

100%

SIG Combibloc PurchaseCo S.à r.l., Munsbach

 

4,012,500

 

EUR

 

100%

Malaysia

 

 

 

 

 

 

SIG Combibloc Malaysia SDN. BHD, Kuala Lumpur

 

1,000,000

 

MYR

 

100%

Mexico

 

 

 

 

 

 

SIG Combibloc México, S.A. de C.V., Mexico

 

1,000,000

 

MXN

 

100%

Netherlands

 

 

 

 

 

 

SIG Combibloc B.V., Hengelo

 

40,000

 

EUR

 

100%

New Zealand

 

 

 

 

 

 

Whakatane Mill Ltd., Whakatane

 

108,120,047

 

NZD

 

100%

Poland

 

 

 

 

 

 

SIG Combibloc Sp. z o.o., Warsaw

 

249,934

 

PLN

 

100%

Romania

 

 

 

 

 

 

SIG Combibloc Services S.R.L., Cluj

 

1,000,000

 

RON

 

100%

Russia

 

 

 

 

 

 

OOO SIG Combibloc, Moscow

 

5,000,000

 

RUB

 

100%

Spain

 

 

 

 

 

 

SIG Combibloc S.A., Madrid

 

330,550

 

EUR

 

100%

Sweden

 

 

 

 

 

 

SIG Combibloc AB, Kista

 

100,000

 

SEK

 

100%

Switzerland

 

 

 

 

 

 

SIG allCap AG, Neuhausen am Rheinfall

 

7,000,000

 

CHF

 

100%

SIG Combibloc Services AG, Neuhausen am Rheinfall (9)

 

37,931,400

 

CHF

 

100%

SIG Combibloc Procurement AG, Neuhausen am Rheinfall

 

2,000,000

 

CHF

 

100%

SIG Combibloc Receivables Management AG, Neuhausen am Rheinfall

 

1,000,000

 

CHF

 

100%

SIG Schweizerische Industrie-Gesellschaft GmbH, Neuhausen am Rheinfall (10)

 

20,000

 

CHF

 

100%

SIG Technology AG, Neuhausen am Rheinfall

 

3,000,000

 

CHF

 

100%

Taiwan

 

 

 

 

 

 

SIG Combibloc Taiwan Ltd., Taipei

 

15,000,000

 

TWD

 

100%

Thailand

 

 

 

 

 

 

SIG Combibloc Ltd., Rayong

 

3,070,693,000

 

THB

 

100%

United Kingdom

 

 

 

 

 

 

SIG Combibloc Ltd., Houghton-le-Spring

 

1,500,000

 

GBP

 

100%

USA

 

 

 

 

 

 

SIG Combibloc US Acquisition Inc., Wilmington

 

10

 

USD

 

100%

SIG Combibloc US Acquisition II Inc., Wilmington

 

10

 

USD

 

100%

SIG Combibloc Inc., Wilmington

 

27,000,000

 

USD

 

100%

SIG Holding USA, LLC, Wilmington

 

1,000

 

USD

 

100%

Vietnam

 

 

 

 

 

 

SIG Vietnam Ltd., Ho Chi Minh City

 

2,000,000,000

 

VND

 

100%

Joint ventures

 

 

 

 

 

 

Japan

 

 

 

 

 

 

DNP • SIG Combibloc Co., Ltd., Tokyo

 

75,000,000

 

JPY

 

50%

Saudi Arabia

 

 

 

 

 

 

SIG Combibloc Obeikan Company Ltd., Riyadh

 

75,000,000

 

SAR

 

50%

UAE

 

 

 

 

 

 

SIG Combibloc Obeikan FZCO, Dubai

 

24,000,000

 

AED

 

50%

Accounting policy / basis of consolidation

Subsidiaries

Subsidiaries are entities controlled by the Group. Control exists when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from their respective acquisition date, which is the date on which the Group obtains control. Subsidiaries are deconsolidated from their respective disposal date, which is the date on which control ceases. Any resulting gain or loss is recognised in profit or loss.

Interests in joint ventures

A joint venture is a contractual arrangement in which the Group has joint control and has rights to the net assets of the arrangement rather than rights to its assets and obligations for its liabilities. Investments in joint ventures are accounted for using the equity method. On the date joint control is obtained, joint ventures are recognised at cost (including transaction costs). Subsequent to initial recognition, the Group’s share of the profit or loss and other comprehensive income is included in the consolidated financial statements until the date on which joint control ceases.

Intra-group transactions and balances

Intra-group transactions and balances are eliminated upon consolidation. Unrealised gains arising from transactions with joint ventures are eliminated to the extent of the Group’s interest in the investee. Unrealised losses are eliminated in the same manner as unrealised gains, but only to the extent that there is no evidence of impairment.