5.2 Assets held for sale
In the second half of 2022, Alpiq decided to sell its three Bulgarian subsidiaries Vetrocom EOOD, Alpiq Energia Bulgaria EOOD and Alpiq Wind Services EAD. Following this decision the assets and liabilities of the companies were classified as “held for sale". Prior to the reclassification an impairment test was performed which resulted in the recognition of impairment reversals of CHF 23 million.
Assets
|
CHF million |
31 Dec 2022 |
31 Dec 2021 |
|
Property, plant and equipment |
48 |
|
|
Intangible assets |
8 |
|
|
Inventories |
1 |
|
|
Derivative financial instruments |
8 |
|
|
Receivables and other current assets |
5 |
|
|
Cash and cash equivalents |
13 |
|
|
Total assets held for sale |
83 |
0 |
Liabilities
|
CHF million |
31 Dec 2022 |
31 Dec 2021 |
|
Non-current provisions |
1 |
|
|
Deferred income tax liabilities |
2 |
|
|
Current provisions |
1 |
|
|
Other current liabilities |
6 |
|
|
Total liabilities held for sale |
10 |
0 |
At 31 December 2022, currency translation losses of CHF 33 million related to assets and liabilities held for sale are included in equity.
Accounting policies
An asset or group of assets and related liabilities (disposal group) is classified as held for sale if its carrying amount will be recovered principally through a sale transaction rather than continuing use. The Alpiq Group measures non-current assets and disposal groups classified as held for sale at the lower of carrying amount and fair value less costs of disposal. These assets or disposal groups, once classified as held for sale, are no longer depreciated or amortised. They are presented separately from the Group’s other assets and liabilities.