23. Financial investments and investments accounted for using the equity method
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€ million |
Loans |
Investments |
Securities |
Total |
Acquisition or production costs |
|
|
|
|
As of 1/10/2013 |
65 |
267 |
2 |
333 |
Currency translation |
0 |
15 |
0 |
16 |
Additions to consolidation group |
0 |
0 |
0 |
0 |
Additions |
6 |
5 |
0 |
11 |
Disposals |
−19 |
−269 |
0 |
−288 |
Reclassifications under IFRS 5 |
0 |
0 |
0 |
0 |
Transfers |
−1 |
1 |
0 |
0 |
As of 30/9 / 1/10/2014 |
51 |
19 |
2 |
72 |
Currency translation |
−1 |
0 |
0 |
−1 |
Additions to consolidation group |
0 |
0 |
0 |
0 |
Additions |
4 |
32 |
0 |
37 |
Disposals |
−4 |
−9 |
0 |
−13 |
Reclassifications under IFRS 5 |
0 |
0 |
0 |
0 |
Transfers |
−5 |
42 |
0 |
37 |
As of 30/9/2015 |
46 |
84 |
2 |
133 |
Depreciation/amortisation/impairment losses |
|
|
|
|
As of 1/10/2013 |
13 |
1 |
0 |
14 |
Currency translation |
0 |
0 |
0 |
0 |
Additions, scheduled |
0 |
0 |
0 |
0 |
Additions, non-scheduled |
0 |
0 |
0 |
0 |
Disposals |
−13 |
0 |
0 |
−13 |
Reclassifications under IFRS 5 |
0 |
0 |
0 |
0 |
Reversals of impairment losses |
0 |
0 |
0 |
0 |
Transfers |
0 |
0 |
0 |
0 |
As of 30/9 / 1/10/2014 |
0 |
1 |
0 |
1 |
Currency translation |
0 |
0 |
0 |
0 |
Additions, scheduled |
0 |
0 |
0 |
0 |
Additions, non-scheduled |
0 |
1 |
0 |
1 |
Disposals |
0 |
0 |
0 |
0 |
Reclassifications under IFRS 5 |
0 |
0 |
0 |
0 |
Reversals of impairment losses |
0 |
0 |
0 |
0 |
Transfers |
0 |
14 |
0 |
14 |
As of 30/9/2015 |
0 |
16 |
0 |
16 |
Carrying amount at 1/10/2013 |
52 |
266 |
2 |
319 |
Carrying amount at 30/9/2014 |
51 |
18 |
2 |
71 |
Carrying amount at 30/9/2015 |
46 |
69 |
2 |
117 |
METRO GROUP sold 60 per cent of the shares in 10 companies of the Mayfair Group as part of a joint venture. The remaining 40 per cent are shown as an addition to investments accounted for using the equity method in the amount of €83 million.
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€ million |
Investments accounted for using the equity method |
Acquisition or production costs |
|
As of 1/10/2013 |
132 |
Currency translation |
0 |
Additions to consolidation group |
0 |
Additions |
2 |
Disposals |
−39 |
Reclassifications under IFRS 5 |
0 |
Transfers |
0 |
As of 30/9 / 1/10/2014 |
95 |
Currency translation |
0 |
Additions to consolidation group |
0 |
Additions |
86 |
Disposals |
0 |
Reclassifications under IFRS 5 |
0 |
Transfers |
10 |
As of 30/9/2015 |
191 |
Depreciation/amortisation/impairment losses |
|
As of 1/10/2013 |
0 |
Currency translation |
0 |
Additions, scheduled |
0 |
Additions, non-scheduled |
0 |
Disposals |
0 |
Reclassifications under IFRS 5 |
0 |
Reversals of impairment losses |
0 |
Transfers |
0 |
As of 30/9 / 1/10/2014 |
0 |
Currency translation |
0 |
Additions, scheduled |
0 |
Additions, non-scheduled |
8 |
Disposals |
0 |
Reclassifications under IFRS 5 |
0 |
Reversals of impairment losses |
0 |
Transfers |
0 |
As of 30/9/2015 |
7 |
Carrying amount at 1/10/2013 |
132 |
Carrying amount at 30/9/2014 |
95 |
Carrying amount at 30/9/2015 |
184 |
Details on major investments accounted for using the equity method are listed in the following table.
With the exception of Habib Metro Pakistan (closing date 30/6), the closing date for all other companies listed here is 31/12.
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|
Habib Metro Pakistan |
OPCI FWP |
OPCI FWS |
Mayfair group1 |
Others |
Total |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
€ million |
2013/14 |
2014/15 |
2013/14 |
2014/15 |
2013/14 |
2014/15 |
2013/14 |
2014/15 |
2013/14 |
2014/15 |
2013/14 |
2014/15 |
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|
||||||||||||||
Size of investment (in %) |
40 |
40 |
4.99 |
4.99 |
25 |
25 |
n/a |
40 |
– |
– |
– |
– |
||
Market capitalisation |
– |
– |
– |
– |
– |
– |
n/a |
– |
– |
– |
– |
– |
||
Carrying amount |
45 |
47 |
8 |
9 |
39 |
39 |
n/a |
83 |
3 |
6 |
95 |
184 |
||
Notes to the income statement |
|
|
|
|
|
|
|
|
|
|
|
|
||
Sales |
10 |
12 |
23 |
23 |
22 |
22 |
n/a |
0 |
3 |
21 |
58 |
78 |
||
Earnings after taxes from continuing operations |
4 |
6 |
11 |
16 |
11 |
15 |
n/a |
12 |
2 |
0 |
28 |
49 |
||
Earnings after taxes from discontinued operations |
0 |
0 |
0 |
0 |
0 |
0 |
n/a |
0 |
0 |
0 |
0 |
0 |
||
Other comprehensive income |
0 |
0 |
0 |
0 |
0 |
0 |
n/a |
0 |
0 |
0 |
0 |
0 |
||
Total comprehensive income |
4 |
6 |
11 |
16 |
11 |
15 |
n/a |
12 |
2 |
0 |
28 |
49 |
||
Dividend payments to the group |
1 |
1 |
3 |
0 |
3 |
4 |
n/a |
0 |
0 |
1 |
7 |
2 |
||
Notes to the balance sheet |
|
|
|
|
|
|
|
|
|
|
|
|
||
Non-current assets |
58 |
61 |
261 |
261 |
251 |
251 |
n/a |
189 |
0 |
155 |
570 |
917 |
||
Current assets |
9 |
14 |
4 |
2 |
5 |
6 |
n/a |
4 |
4 |
34 |
22 |
60 |
||
Non-current liabilities |
2 |
3 |
108 |
102 |
105 |
101 |
n/a |
0 |
0 |
162 |
215 |
368 |
||
Current liabilities |
1 |
1 |
0 |
1 |
0 |
1 |
n/a |
0 |
1 |
21 |
2 |
24 |
||
METRO GROUP’s representation on the supervisory board of OPCI FRENCH WHOLESALE PROPERTIES – FWP ensures that significant influence will be maintained and that the holding will be accounted for using the equity method although the share only amounts to 4.99 per cent.