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.
Financial assets accounted for using the equity method |
31/12/2015 |
31/12/2014 |
In € thousand |
|
|
Current market value of associated companies listed on a public stock exchange (STRABAG SE) |
369,714 |
285,029 |
Net Profit/(loss) |
23,205 |
19,970 |
As part of the accounting using the equity method, an assessment is made up until 31 December 2015 of the stake in STRABAG SE based on the interim financial statements as at 30 September 2015.
The following tables illustrate summary financial information concerning STRABAG SE.
Summarised statement of comprehensive income |
STRABAG SE1) |
|||
In € thousand |
1-9/2015 |
1-9/2014 |
||
|
||||
Revenue |
9,480,722 |
8,892,290 |
||
Depreciation |
–287,985 |
–285,543 |
||
Interest income |
60,152 |
44,177 |
||
Interest expenses |
–74,116 |
–69,031 |
||
Income taxes |
–38,298 |
–19,150 |
||
Net Profit/(loss) |
63,540 |
20,275 |
||
Other comprehensive income |
21,020 |
–32,463 |
||
Total comprehensive income |
84,560 |
–12,188 |
||
|
|
|
||
Dividends received from associated companies |
7,841 |
7,057 |
||
Summarised Statement of Financial Position |
STRABAG SE1) |
|||
In € thousand |
30/09/2015 |
31/12/2014 |
||
|
||||
Cash and cash equivalents |
1,560,139 |
1,924,019 |
||
Other current assets |
4,685,008 |
3,845,057 |
||
Current assets |
6,245,147 |
5,769,076 |
||
Non-current assets |
4,415,745 |
4,506,461 |
||
Total assets |
10,660,892 |
10,275,537 |
||
|
|
|
||
Current financial liabilities |
248,232 |
433,198 |
||
Other current liabilities |
4,652,418 |
4,289,335 |
||
Current liabilities |
4,900,650 |
4,722,533 |
||
Non-current liabilities |
1,330,829 |
1,176,724 |
||
Other non-current liabilities |
1,257,979 |
1,231,980 |
||
Non-current liabilities |
2,588,808 |
2,408,704 |
||
Total liabilities |
7,489,458 |
7,131,237 |
||
Net assets |
3,171,434 |
3,144,300 |
||
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.
Summary of information on associated companies that are not material when considered on a stand alone basis |
1-12/2015 |
1-12/2014 |
In € thousand |
||
Group's share of profit from continuing operations |
3,259 |
1,128 |
Group's share of loss from continuing operations |
–12,386 |
–1,781 |
Group's share of other comprehensive income |
–1,954 |
14 |
Group's share of total comprehensive income |
–11,081 |
–639 |
Reconciliation of summarised financial information |
STRABAG SE |
Associated companies not material on stand alone basis 2) |
||||||||
In € thousand |
20151) |
2014 |
2015 |
2014 |
||||||
|
||||||||||
Net assets as at 1 January |
2,884,712 |
2,948,749 |
258,750 |
265,645 |
||||||
Change in basis of consolidation |
0 |
0 |
–32,215 |
0 |
||||||
Dividends |
–51,300 |
–46,170 |
–710 |
–2,307 |
||||||
Profit/(loss) after taxes |
174,000 |
132,558 |
–52,950 |
–4,655 |
||||||
Other comprehensive income |
21,944 |
–48,794 |
–8,416 |
68 |
||||||
Net assets as at 31 December |
3,029,356 |
2,986,343 |
164,459 |
258,750 |
||||||
Shares in associated companies |
13.76% |
13.76% |
|
various investment amounts |
||||||
Carrying amount3) |
463,039 |
456,464 |
51,127 |
72,217 |
||||||
Unrecognised losses from associated companies |
2015 |
2014 |
In € thousand |
||
Unrecognised losses in the reporting period |
2,291 |
2,281 |
Cumulative unrecognised losses |
9,016 |
6,725 |
