Note 9: Investments in associates and joint ventures

Summary of financial information on a 100 percent basis

 

 

 

 

 

 

 

 

 

 

 

Associates

 

Joint ventures

In € millions

 

2012

 

2013

 

2012

 

2013

 

 

 

 

 

 

 

 

 

Condensed statement of income

 

 

 

 

 

 

 

 

Revenue

 

126

 

143

 

545

 

543

Income before tax

 

18

 

21

 

14

 

11

Net income

 

12

 

14

 

9

 

8

 

 

 

 

 

 

 

 

 

Condensed balance sheet

 

 

 

 

 

 

 

 

Current assets

 

116

 

123

 

183

 

193

Non-current assets

 

77

 

78

 

158

 

119

Total assets

 

193

 

201

 

341

 

312

Current liabilities

 

41

 

47

 

89

 

86

Non-current liabilities

 

28

 

21

 

49

 

38

Shareholders’ equity

 

124

 

133

 

203

 

188

Total liabilities and equity

 

193

 

201

 

341

 

312

At year-end 2013, the carrying value of investments in associates amounted to €90 million (2012: €83 million) and in joint ventures to €93 million (2012: €102 million). In 2013, the results from associates and joint ventures amounted to a profit of €14 million (2012: €13 million). No significant contingent liabilities existed related to associates and joint ventures, see Note 20.

The most significant associates and joint ventures of AkzoNobel are: Metlac Holdings Brl (49 percent), Metlac Spa (44 percent), Delesto B.V. (50 percent), Eka Chile SA (50 percent), Fort Amanda Specialties LLC (50 percent) and I.C. Insurance Holdings Ltd (49 percent).