10. Financial assets accounted for using the equity method
The financial assets accounted for using the equity method include the shares in STRABAG SE. These represent the only essential shares that are accounted for using the equity method. The following table shows the fair value of the shares as at the reporting date.
In € thousand |
31/12/2016 |
31/12/2015 |
Current market value of associated companies listed on a public stock exchange (STRABAG SE) |
527,715 |
369,714 |
Financial assets accounted for using the equity method |
39,557 |
23,205 |
As part of the accounting using the equity method, an assessment was made up until 31 December of the stake in STRABAG SE based on the interim financial statements at 30 September.
The following tables illustrate summary financial information concerning STRABAG SE.
In € thousand |
STRABAG SE1) |
|||
1-9/2016 |
1-9/2015 |
|||
|
||||
Revenue |
8,938,457 |
9,480,722 |
||
Depreciation |
–274,493 |
–287,985 |
||
Interest income |
44,427 |
60,152 |
||
Interest expenses |
–57,735 |
–74,116 |
||
Income taxes |
–57,697 |
–38,298 |
||
Profit/(loss) for the year |
104,898 |
63,540 |
||
Other comprehensive income |
–32,468 |
21,020 |
||
Total comprehensive income |
72,430 |
84,560 |
||
|
|
|
||
Dividends received from associated companies |
10,194 |
7,841 |
||
In € thousand |
STRABAG SE1) |
|||
30/09/2016 |
31/12/2015 |
|||
|
||||
Cash and cash equivalents |
1,501,884 |
2,732,330 |
||
Other current assets |
4,401,980 |
3,712,466 |
||
Current assets |
5,903,864 |
6,444,796 |
||
Non-current assets |
4,344,896 |
4,284,072 |
||
Total assets |
10,248,760 |
10,728,868 |
||
|
|
|
||
Current financial liabilities |
189,194 |
285,994 |
||
Other current liabilities |
4,432,035 |
4,602,993 |
||
Current liabilities |
4,621,229 |
4,888,987 |
||
Non-current liabilities |
1,249,517 |
1,293,753 |
||
Other non-current liabilities |
1,307,947 |
1,225,493 |
||
Non-current liabilities |
2,557,464 |
2,519,246 |
||
Total liabilities |
7,178,693 |
7,408,233 |
||
Net assets |
3,070,067 |
3,320,635 |
||
All other financial assets accounted for using the equity method are negligible from the perspective of the Group when considered individually and are stated in aggregate form. The financial statements of the associates most recently published have been used for the purposes of the accounting using the equity method, and have been adjusted based on any essential transactions between the relevant reporting date and 31 December 2015.
In € thousand |
1-12/2016 |
1-12/2015 |
Group’s share of profit from continuing operations |
6,729 |
3,259 |
Group’s share of loss from continuing operations |
0 |
–12,386 |
Group’s share of other comprehensive income |
788 |
–1,954 |
Group’s share of total comprehensive income |
7,517 |
–11,081 |
In € thousand |
STRABAG SE |
Associated companies not material on stand-alone basis2) |
||||||||
20161) 3) |
20153) |
2016 |
2015 |
|||||||
|
||||||||||
Net assets at 1 January |
3,029,356 |
2,884,712 |
164,459 |
258,750 |
||||||
Change in basis of consolidation |
0 |
0 |
–64,664 |
–32,215 |
||||||
Dividends |
–66,690 |
–51,300 |
–500 |
–710 |
||||||
Profit/(loss) after taxes |
202,686 |
174,000 |
10,474 |
–52,950 |
||||||
Other comprehensive income |
–52,303 |
21,944 |
1,965 |
–8,416 |
||||||
Net assets at 31 December |
3,113,049 |
3,029,356 |
111,734 |
164,459 |
||||||
Shares in associated companies |
14.26 % |
13.76 % |
Various investment amounts |
|||||||
Carrying amount |
475,831 |
463,039 |
45,474 |
51,127 |
||||||
In € thousand |
1-12/2016 |
1-12/2015 |
Unrecognised losses in the reporting period |
1,682 |
2,291 |
Cumulative unrecognised losses |
10,698 |
9,016 |