5.2 Assets held for sale
In the second half of 2023, Alpiq decided to sell 75% of its share in the Spanish project company Novagavia Business S.L. At the 31 December 2022 reporting date, three Bulgarian subsidiaries were classified as “Assets held for sale”. For more information regarding the Bulgarian subsidiaries, see note 5.1.
Assets
|
CHF million |
31 Dec 2023 |
31 Dec 2022 |
|
Property, plant and equipment |
4 |
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 |
4 |
83 |
Liabilities
|
CHF million |
31 Dec 2023 |
31 Dec 2022 |
|
Non-current provisions |
|
1 |
|
Deferred income tax liabilities |
|
2 |
|
Non-current financial liabilities |
1 |
|
|
Current provisions |
|
1 |
|
Other current liabilities |
|
6 |
|
Total liabilities held for sale |
1 |
10 |
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.