Notes to the Consolidated Financial Statements
1. Basic information and principles of the report
2. Changes in Group structure
No significant changes in the Group structure took place in 2018.
Sale of the Varicor Group
The Varicor Group was sold at a sales price of MEUR 13.8 and deconsolidated as at 1 January 2017. The Varicor Group companies are Varicor S.A.S. and Varicor GmbH which were acquired as part of the Sanitec acquisition in 2015 and employed 86 people as at 31 December 2016. The Varicor Group did not contribute to the net income in 2017.
In addition the sales company Geberit UAB was established in Vilnius and there were various changes to the legal structure of the Group mainly in connection with the integration of the Sanitec Group but with no effect on the consolidated results.