Note 14: Investments in associates and joint ventures
|
Associates |
|
|---|---|---|
In € millions, at December 31 |
2021 |
2022 |
|
|
|
Condensed balance sheet |
|
|
Non-current assets |
81 |
97 |
Current assets |
141 |
152 |
Total assets |
222 |
249 |
Shareholders’ equity |
176 |
191 |
Non-current liabilities |
5 |
6 |
Current liabilities |
41 |
52 |
Total liabilities and equity |
222 |
249 |
The total value of investments in associates and joint ventures at December 31, 2022 amounted to €193 million (2021: €178 million) and consisted of our equity share of €191 million (2021: €176 million) and loans granted of €2 million (2021: €2 million).
|
Associates |
|
|---|---|---|
In € millions |
2021 |
2022 |
|
|
|
Condensed statement of income |
|
|
Revenue |
194 |
218 |
Profit before tax |
35 |
25 |
|
|
|
Profit from continuing operations |
26 |
18 |
Profit for the period |
26 |
18 |
In 2022, the results from associates amounted to a profit of €18 million (2021: €26 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.