4. Investments in subsidiaries
The company holds the following direct and significantly indirect investments:
| 2021 | 2020 | 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Company | Currency |
Nominal share capital |
Nominal share capital |
Voting rights and Participation |
Voting rights and Participation |
|||||
| MIL Madeiras Preciosas Ltda., Brazil 1 | BRL | 168 143 929 | 168 143 929 | 100.00% | 100.00% | |||||
| MIL Energia Renovável Ltda., Brazil (former BK Energia Ltda.) 2 | BRL | 7 160 000 | 2 600 000 | 100.00% | 40.00% | |||||
| Monte Verde Manejo Florestal Ltda., Brazil 1 | BRL | 37 585 742 | 37 585 742 | 100.00% | 100.00% | |||||
| Precious Woods Manejo Florestal Ltda., Brazil 1 | BRL | 24 429 917 | 24 429 917 | 100.00% | 100.00% | |||||
| Precious Woods Europe B.V., Netherlands 1 | EUR | 18 000 | 18 000 | 100.00% | 100.00% | |||||
| Unio S.A., Luxembourg 1 | EUR | 1 000 000 | 1 000 000 | 100.00% | 100.00% | |||||
| Precious Woods Tropical Gabon Industrie S.A. (TGI), Gabon 2 | XAF | 10 000 000 | 10 000 000 | 100.00% | 100.00% | |||||
| Compagnie des Placages de la Lowé S.A., Gabon 2 | XAF | 1 550 428 600 | 1 550 428 600 | 49.00% | 49.00% | |||||
| Lastour & Co. S.A., Luxembourg 1 | EUR | 372 575 | 372 575 | 100.00% | 100.00% | |||||
| Precious Woods Compagnie Equatoriale des Bois S.A. (CEB), Gabon 2 | XAF | 1 571 276 074 | 1 571 276 074 | 99.02% | 99.02% | |||||
| Precious Woods Management Ltd., British Virgin Islands 1 | USD | 20 000 | 20 000 | 100.00% | 100.00% | |||||
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1 participation directly held by
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2 participation indirectly held by
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As at 31 December 2021, a negative value adjustment of the participations Lastour & Co. and Unio S.A. was made due to the historical acquisition value in the amount of CHF 5.6 million, which led to the change in financial expenses compared to the previous year. In addition, two further impairments of investments of CHF 4.3 million were recognized on the investments in MIL Madeiras Preciosas Ltda. and Unio S.A. (see Note 9). For further information on investments as well as investments in associates, we refer to note 31 and 13 to the consolidated group financial statements.