- Index
- 20 NOTE F20 Intangible assets
- 21 NOTE F21 Goodwill and business combinations
- 22 NOTE F22 Property, plant and equipment
- 23 NOTE F23 Right-of-use assets and lease liabilities
- 24 NOTE F24 Joint operations
- 25 NOTE F25 Investments in associates and joint ventures
- 26 NOTE F26 Other investments
- 27 NOTE F27 Impairment of property, plant and equipment, intangible assets, right-of-use assets, and equity method investees
- 28 NOTE F28 Inventories
- 29 NOTE F29 Other receivables (current)
- 30 NOTE F30 Assets held for sale
- 31 NOTE F31 Equity
- 32 NOTE F32 Non-controlling interests
- 33 NOTE F33 Share-based payments
- 34 NOTE F34 Provisions
- 35 NOTE F35 Financial instruments and financial risk management
- 36 NOTE F36 Net indebtedness
- 37 NOTE F37 Other liabilities (current)
The list of associates and joint ventures is available in the note F43 List of companies included in the consolidation scope.
The associates and joint ventures not classified as held for sale/discontinued operations are accounted for under the equity method of accounting.
In € million |
2019 |
2018 |
||||
Associates |
Joint ventures |
Total |
Associates |
Joint ventures |
Total |
|
Investments in associates and joint ventures |
17 |
538 |
555 |
15 |
426 |
441 |
Earnings from associates and joint ventures |
2 |
93 |
95 |
3 |
41 |
44 |
Investments in associates
In € million |
2019 |
2018 |
Carrying amount at January 1 |
15 |
23 |
Profit for the year |
2 |
3 |
Dividends received |
(1) |
(1) |
Impairment |
|
(9) |
Carrying amount at December 31 |
17 |
15 |
The tables below present the summary of the statement of financial position and income statement of the associates as if they were proportionately consolidated.
In € million |
2019 |
2018 |
Statement of financial position |
|
|
Non-current assets |
12 |
16 |
Current assets |
13 |
18 |
Cash and cash equivalents |
2 |
6 |
Non-current liabilities |
1 |
3 |
Non-current financial debt |
1 |
2 |
Current liabilities |
8 |
16 |
Current financial debt |
2 |
4 |
Investments in associates |
17 |
15 |
|
|
|
Income statement |
|
|
Sales |
32 |
36 |
Depreciation and amortization |
(1) |
(1) |
Interest on loans and short term deposits |
1 |
1 |
Profit for the year from continuing operations |
2 |
2 |
Profit for the year |
2 |
2 |
Total comprehensive income |
2 |
2 |
Dividends received |
1 |
1 |
Investments in joint ventures
In € million |
2019 |
2018 |
Carrying amount at January 1 |
426 |
443 |
Additions |
11 |
|
Capital increase |
10 |
|
Profit for the year |
93 |
41 |
Dividends received |
(25) |
(24) |
Currency translation differences |
24 |
(34) |
Other |
(1) |
|
Carrying amount at December 31 |
538 |
426 |
In 2019 the additions and the capital increase relate to the investment in Aqua Pharma Group.
In 2019, the currency translation differences mainly relate to the evolution of the Russian ruble compared to the euro. In 2018, the currency translation differences mainly relate to the evolution of the Russian ruble, of the Brazilian real and of the Indian rupee compared to the euro.
The tables below present the summary of the statement of financial position and income statement of the material joint ventures as if they were proportionately consolidated.
2019 |
Rusvinyl OOO |
Peroxidos do Brasil Ltda |
Solvay & CPC Barium Strontium |
Shandong Huatai Interox Chemical Co. Ltd |
Hindustan Gum & Chemicals Ltd |
Aqua Pharma Group |
EECO Holding and subsidiaries |
Cogeneration Rosignano |
Ownership interest |
50.0% |
69.4% |
75.0% |
50.0% |
50.0% |
50.0% |
33.3% |
25.4% |
Operating Segment |
Performance Chemicals |
Performance Chemicals |
Advanced Materials |
Performance Chemicals |
Advanced Formulations |
Performance Chemicals |
Corporate & Business Services |
Corporate & Business Services |
Statement of financial position |
|
|
|
|
|
|
|
|
Non- |
371 |
54 |
11 |
6 |
5 |
19 |
16 |
9 |
Current assets |
66 |
56 |
46 |
7 |
155 |
11 |
23 |
1 |
Cash and cash equivalents |
33 |
23 |
9 |
5 |
133 |
6 |
2 |
|
Non- |
135 |
4 |
14 |
|
3 |
3 |
16 |
5 |
Non- |
104 |
1 |
|
|
|
2 |
16 |
5 |
Current liabilities |
59 |
25 |
19 |
4 |
8 |
5 |
18 |
1 |
Current financial debt |
39 |
5 |
7 |
|
|
|
17 |
1 |
Investments in joint ventures |
243 |
82 |
24 |
9 |
149 |
21 |
5 |
3 |
|
|
|
|
|
|
|
|
|
Income statement |
|
|
|
|
|
|
|
|
Sales |
202 |
82 |
73 |
18 |
28 |
|
3 |
|
Depreciation and amortization |
(25) |
(5) |
(2) |
(1) |
(1) |
|
(2) |
(1) |
Cost of borrowings |
(15) |
|
|
|
|
|
(1) |
|
Interest on loans and short-term deposits |
1 |
1 |
|
|
12 |
|
1 |
|
Income taxes |
(13) |
(10) |
(3) |
(1) |
(2) |
|
|
|
Profit for the year from continuing operations |
51 |
23 |
8 |
2 |
8 |
|
1 |
|
Profit for the year |
51 |
23 |
8 |
2 |
8 |
|
1 |
|
Other comprehensive income |
25 |
(1) |
(1) |
|
(1) |
|
|
|
Total comprehensive income |
77 |
21 |
7 |
2 |
7 |
|
|
|
Dividends received |
|
7 |
13 |
2 |
3 |
|
|
|
Other comprehensive income mainly comprises the currency translation differences.
2018 |
Rusvinyl OOO |
Peroxidos do Brasil Ltda |
Solvay & CPC Barium Strontium |
Hindustan Gum & Chemicals Ltd |
Shandong Huatai Interox Chemical Co. Ltd |
EECO Holding and subsidiaries |
Cogeneration Rosignano |
Ownership interest |
50.0% |
69.4% |
75.0% |
50.0% |
50.0% |
33.3% |
25.4% |
Operating Segment |
Performance Chemicals |
Performance Chemicals |
Advanced Materials |
Advanced Formulations |
Performance Chemicals |
Corporate & Business Services |
Corporate & Business Services |
Statement of financial position |
|
|
|
|
|
|
|
Non-current assets |
352 |
47 |
11 |
6 |
7 |
17 |
9 |
Current assets |
53 |
43 |
45 |
152 |
5 |
28 |
4 |
Cash and cash equivalents |
23 |
19 |
9 |
125 |
3 |
2 |
1 |
Non-current liabilities |
189 |
4 |
12 |
4 |
– |
8 |
|
Non-current financial debt |
160 |
2 |
|
|
|
8 |
|
Current liabilities |
50 |
18 |
15 |
9 |
3 |
33 |
9 |
Current financial debt |
36 |
4 |
|
|
|
33 |
8 |
Investments in joint ventures |
167 |
67 |
30 |
145 |
9 |
4 |
4 |
|
|
|
|
|
|
|
|
Income statement |
|
|
|
|
|
|
|
Sales |
183 |
73 |
80 |
40 |
20 |
6 |
3 |
Depreciation and amortization |
(22) |
(4) |
(1) |
(1) |
(1) |
(2) |
(1) |
Cost of borrowings |
(17) |
|
|
|
|
(2) |
|
Interest on loans and short-term deposits |
|
1 |
|
7 |
|
1 |
|
Income taxes |
(1) |
(6) |
(3) |
(2) |
(1) |
|
|
Profit for the year from continuing operations |
5 |
19 |
9 |
5 |
3 |
1 |
|
Profit for the year |
5 |
19 |
9 |
5 |
3 |
1 |
|
Other comprehensive income |
(25) |
(4) |
1 |
(7) |
|
|
|
Total comprehensive income |
(19) |
14 |
10 |
(2) |
3 |
|
|
Dividends received |
|
13 |
8 |
2 |
2 |
|
|
Other comprehensive income mainly comprises the currency translation differences.