Note 14: Investments in associates and joint ventures
|
Associates |
|
|---|---|---|
In € millions |
2019 |
2020 |
|
|
|
Condensed balance sheet |
|
|
Non-current assets |
68 |
71 |
Current assets |
114 |
141 |
Total assets |
182 |
212 |
Shareholders’ equity |
147 |
164 |
Non-current liabilities |
6 |
6 |
Current liabilities |
29 |
42 |
Total liabilities and equity |
182 |
212 |
|
Associates |
|
|---|---|---|
In € millions |
2019 |
2020 |
|
|
|
Condensed statement of income |
|
|
Revenue |
154 |
165 |
Profit before tax |
29 |
37 |
|
|
|
Profit from continuing operations |
20 |
25 |
Other comprehensive income |
— |
— |
Profit for the period |
20 |
25 |
At year-end 2020, the carrying value of equity investments in associates amounted to €164 million (2019: €147 million). AkzoNobel has granted loans of €2 million in total to certain associates (2019: €3 million). In 2020, the results from associates amounted to a profit of €25 million (2019: €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.