Note 13: Investments in associates and joint ventures
|
Associates |
|
|---|---|---|
In € millions |
2018 |
2019 |
|
|
|
Condensed balance sheet |
|
|
Non-current assets |
66 |
68 |
Current assets |
120 |
114 |
Total assets |
186 |
182 |
Shareholders’ equity |
133 |
147 |
Non-current liabilities |
5 |
6 |
Current liabilities |
48 |
29 |
Total liabilities and equity |
186 |
182 |
|
Associates |
|
|---|---|---|
In € millions |
2018 |
2019 |
|
|
|
Condensed statement of income |
|
|
Revenue |
135 |
154 |
Profit before tax |
27 |
29 |
|
|
|
Profit from continuing operations |
20 |
20 |
Other comprehensive income |
– |
– |
Profit for the period |
20 |
20 |
At year-end 2019, the carrying value of equity investments in associates amounted to €147 million (2018: €133 million). AkzoNobel has granted loans of €3 million in total to certain associates (2018: €4 million). In 2019, the results from associates amounted to a profit of €20 million (2018: €20 million).
No significant contingent liabilities exist related to associates.
The largest associate of AkzoNobel is Metlac S.p.a., incorporated in Italy. None of the associates are considered individually material to the group.