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FINANCIAL STATEMENTS OF EMMI AG

2.Information on balance sheet and income statement items

2.1Income from investments

This position includes dividend income from investments.

2.2Other financial income

Other financial income mainly comprises foreign currency gains and interest income on loans granted to companies in which the entity holds an investment.

2.3Financial expenses

Financial expenses mainly comprise foreign currency losses and interest expenses.

2.4Other operating expenses

The decrease in Other operating expenses is due to the loss on the sale of the majority stake in Lácteos Caprinos S.A. in the previous year.

2.5Investments

 

 

Capital in 000s

Capital share

Capital share

 

Currency

31.12.2021

31.12.2021

31.12.2020

Switzerland

 

 

 

 

Baumann Käse AG, Münchenbuchsee

CHF

100

100%

100%

Cetra Holding SA, Mezzovico-Vira

CHF

250

34%

34%

Emmi Finanz AG, Lucerne

CHF

100

100%

100%

Emmi International AG, Lucerne

CHF

5,000

100%

100%

Emmi Langnau AG, Langnau i.E. 1)

CHF

3,000

100%

100%

Emmi Management AG, Lucerne

CHF

500

100%

100%

Emmi Schweiz AG, Lucerne

CHF

5,700

100%

100%

Fromco S.A. Moudon, Moudon

CHF

2,100

60%

60%

Holding der Schweizerischen Milchproduzenten AG in liquidation, Münchenbuchsee 2)

CHF

100%

Käserei Studer AG, Hefenhofen

CHF

720

100%

100%

Mittelland Molkerei AG, Suhr

CHF

20,000

100%

100%

Molkerei Biedermann AG, Bischofszell

CHF

1,010

100%

100%

MOPRO Luzern AG, Lucerne

CHF

120

100%

100%

Switzerland Cheese Marketing AG, Berne

CHF

290

23%

23%

Austria

 

 

 

 

Hale GmbH, Wartberg

EUR

18

66%

66%

Leeb Biomilch GmbH, Wartberg

EUR

70

66%

66%

Germany

 

 

 

 

Emmi Deutschland GmbH, Essen

EUR

75

100%

100%

Italy

 

 

 

 

Emmi Holding Italia S.r.l., Milan

EUR

1,714

70%

70%

Netherlands

 

 

 

 

Emmi Finance Netherlands B.V., Tiel

EUR

p.m.

100%

100%

Spain

 

 

 

 

Kaiku Corporación Alimentaria, S.L., San Sebastián

EUR

82,110

73%

73%

United Kingdom

 

 

 

 

Emmi UK Limited, London

GBP

4,717

100%

100%

Canada

 

 

 

 

Emmi Canada Inc., Saint-Hubert

CAD

19,152

100%

100%

United States

 

 

 

 

Emmi Holding (USA), Inc., Orangeburg

USD

1

100%

100%

1) Emmi Fondue AG was renamed Emmi Langnau AG on 29 June 2021.

2) Holding der Schweizerischen Milchproduzenten AG in liquidation was deleted on 26 January 2021.

The above-mentioned investments are directly held by Emmi AG. Investments which are indirectly held by Emmi AG are mentioned in note 31 of the consolidated financial statements.

2.6Share capital and significant shareholders

The share capital of KCHF 53,498 as at 31 December 2021 consists of 5,349,810 registered shares with a nominal value of CHF 10 (unchanged on the previous year).

1,072,536 shares or 20.0% were not registered as at 31 December 2021 (previous year: 1,045,887 shares not registered or 19.5%).

The following significant shareholders with more than three percent of voting rights are known to the company:

Nominal capital

31.12.2021

%

31.12.2020

%

ZMP Invest AG, Lucerne 1)

28,488

53.2

28,488

53.2

Zentralschweizer Käsermeister Genossenschaft, Sursee 1)

2,150

4.0

2,200

4.1

MIBA Genossenschaft, Aesch (BL) 1)

1,740

3.3

1,770

3.3

Other

21,120

39.5

21,040

39.4

Total

53,498

100.0

53,498

100.0

1) ZMP Invest AG, Lucerne, the Zentralschweizer Käsermeister Genossenschaft, Sursee, and the MIBA Genossenschaft, Aesch (BL), form a Group in the sense of Article 121 FinMIA. The Group owns 60.5% (previous year: 60.6%) of the total voting rights.

As at 7 June 2016, Capital Group Companies, Inc., Los Angeles, US, informed us that it owned 268,500 registered shares of Emmi AG (5.019%). No further disclosure notifications have been made since.

As at 31 December 2021, Emmi Wohlfahrtsfonds (welfare fund) owned a total of 6,000 shares of Emmi AG (unchanged on the previous year).

2.7Capital contribution reserve

 

31.12.2021

31.12.2020

Confirmed by the tax authorities

2,522

2,522

Not confirmed by the tax authorities

5,772

5,772

Total

8,294

8,294

The capital contribution reserve results from capital contribution payments above the nominal amount during past years.