Notes to the Financial Statements Note 23: Non-Controlling Interests VFMCRP is the only Group’s subsidiary with material non-controlling interests. VFMCRP is registered in St. Gallen, Switzerland. Following the acquisition of CSL in August 2022 (Note 2), the Group owns 55% of the share capital and voting rights of VFMCRP, while Fresenius Medical Care (FMC) holds 45% of the share capital and voting rights. The minority shareholder has extensive protection rights. In the event of disagreement, the Group has the casting vote within a defined escalation process. Summarised financial information (before any intercompany eliminations) of VFMCRP: 2023 US$m Statement of Comprehensive Income information: Net sales 786 Other income 24 Operating profit (EBIT) 120 Net profit 112 Other comprehensive income (OCI) – Balance Sheet information: Current assets 757 Non-current assets 2,986 Current liabilities 201 Non-current liabilities 392 Equity before appropriation of earnings 3,150 Statement of Cash flows information: Cash flows from operating activities 387 VFMCRP paid dividends of $154m during the year ended 30 June 2023 to FMC (2022: Nil), which included the non-controlling’s share of the proceeds received by VFMCRP ($173m) from the sale of investment in shares. CSL Limited Annual Report 2022/23 160
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