Note 14: Investments in associates and joint ventures

Balance sheet information of our share in associates

 

Associates

In € millions, at December 31

2020

2021

 

 

 

Condensed balance sheet

 

 

Non-current assets

71

81

Current assets

141

141

Total assets

212

222

Shareholders’ equity

164

176

Non-current liabilities

6

5

Current liabilities

42

41

Total liabilities and equity

212

222

The total value of investments in associates and joint ventures at December 31, 2021 amounted to €178 million (2020: €166 million) and consisted of our equity share of €176 million (2020: €164 million) and loans granted of €2 million (2020: €2 million).

Profit and loss of our share in associates

 

Associates

In € millions

2020

2021

 

 

 

Condensed statement of income

 

 

Revenue

165

194

Profit before tax

37

35

 

 

 

Profit from continuing operations

25

26

Profit for the period

25

26

In 2021, the results from associates amounted to a profit of €26 million (2020: €25 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.