Note 14: Investments in associates and joint ventures
|
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).
|
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.