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.

(XLS:) XLS

 

  

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.