23. Financial investments and investments accounted for using the equity method
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€ million |
Loans |
Investments |
Securities |
Total financial investments |
Acquisition or production costs |
|
|
|
|
As of 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 / 1/10/2015 |
46 |
84 |
2 |
133 |
Currency translation |
1 |
0 |
0 |
1 |
Additions to consolidation group |
0 |
0 |
0 |
0 |
Additions |
15 |
16 |
0 |
31 |
Disposals |
−3 |
−74 |
0 |
−77 |
Reclassifications under IFRS 5 |
0 |
0 |
0 |
0 |
Transfers |
0 |
0 |
24 |
24 |
As of 30/9/2016 |
58 |
27 |
26 |
112 |
Depreciation/amortisation/impairment losses |
|
|
|
|
As of 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 / 1/10/2015 |
0 |
16 |
0 |
16 |
Currency translation |
0 |
0 |
0 |
0 |
Additions, scheduled |
0 |
0 |
0 |
0 |
Additions, non-scheduled |
3 |
3 |
0 |
6 |
Disposals |
0 |
−14 |
0 |
−14 |
Reclassifications under IFRS 5 |
0 |
0 |
0 |
0 |
Reversals of impairment losses |
0 |
0 |
0 |
0 |
Transfers |
0 |
0 |
0 |
0 |
As of 30/9/2016 |
4 |
5 |
0 |
8 |
Carrying amount at 1/10/2014 |
51 |
18 |
2 |
71 |
Carrying amount at 30/9/2015 |
46 |
69 |
2 |
117 |
Carrying amount at 30/9/2016 |
55 |
23 |
26 |
104 |
Disposals of investments in the amount of €74 million relate to non-controlling interests in real estate companies attributable to the Galeria Kaufhof group.
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€ million |
Investments accounted for using the equity method |
Acquisition or production costs |
|
As of 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 / 1/10/2015 |
191 |
Currency translation |
0 |
Additions to consolidation group |
0 |
Additions |
13 |
Disposals |
−15 |
Reclassifications under IFRS 5 |
0 |
Transfers |
0 |
As of 30/9/2016 |
190 |
Depreciation/amortisation/impairment losses |
|
As of 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 / 1/10/2015 |
7 |
Currency translation |
0 |
Additions, scheduled |
0 |
Additions, non-scheduled |
0 |
Disposals |
0 |
Reclassifications under IFRS 5 |
0 |
Reversals of impairment losses |
−5 |
Transfers |
0 |
As of 30/9/2016 |
2 |
Carrying amount at 1/10/2014 |
95 |
Carrying amount at 30/9/2015 |
184 |
Carrying amount at 30/9/2016 |
188 |
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. The companies are included in the consolidated financial statements of METRO AG with their last available financial statements.
Disposals include the sale of the shares in EZW Kauf- und Freizeitpark GmbH & Co. KG, which resulted in income of €87 million.
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|
Habib METRO Pakistan |
OPCI FWP |
OPCI FWS |
Mayfair group1 |
Others |
Total |
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|
|
|
|
|
|
|
|
|
|
|
|
|
||
€ million |
2014/15 |
2015/16 |
2014/15 |
2015/16 |
2014/15 |
2015/16 |
2014/15 |
2015/16 |
2014/15 |
2015/16 |
2014/15 |
2015/16 |
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|
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Size of investment (in %) |
40 |
40 |
4.99 |
4.99 |
24.99 |
24.99 |
40 |
40 |
– |
– |
– |
– |
||
Market capitalisation |
– |
– |
– |
– |
– |
– |
– |
– |
– |
– |
– |
– |
||
Carrying amount |
47 |
47 |
9 |
9 |
39 |
41 |
83 |
80 |
6 |
11 |
184 |
188 |
||
Notes to the income statement |
|
|
|
|
|
|
|
|
|
|
|
|
||
Sales |
12 |
12 |
23 |
24 |
22 |
23 |
0 |
16 |
21 |
29 |
78 |
104 |
||
Earnings after taxes from continuing operations |
6 |
6 |
16 |
14 |
15 |
15 |
12 |
9 |
0 |
5 |
49 |
49 |
||
Earnings after taxes from discontinued operations |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
0 |
0 |
||
Other comprehensive income |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
|
0 |
0 |
||
Total comprehensive income |
6 |
6 |
16 |
14 |
15 |
15 |
12 |
9 |
0 |
5 |
49 |
49 |
||
Dividend payments to the group |
1 |
0 |
0 |
0 |
4 |
0 |
0 |
0 |
1 |
0 |
6 |
0 |
||
Notes to the balance sheet |
|
|
|
|
|
|
|
|
|
|
|
|
||
Non-current assets |
61 |
61 |
261 |
271 |
251 |
261 |
189 |
201 |
155 |
84 |
917 |
878 |
||
Current assets |
14 |
15 |
2 |
1 |
6 |
4 |
4 |
5 |
34 |
17 |
60 |
42 |
||
Non-current liabilities |
3 |
3 |
102 |
100 |
101 |
100 |
0 |
0 |
162 |
84 |
368 |
287 |
||
Current liabilities |
1 |
1 |
1 |
0 |
1 |
0 |
0 |
5 |
21 |
14 |
24 |
20 |
||
METRO GROUP’s representation on the supervisory board of OPCI FRENCH WHOLESALE PROPERTIES – FWP ensures that significant influence is maintained and that the holding will be accounted for using the equity method although the share only amounts to 4.99 per cent.
The group’s at-equity investments essentially concern leasing companies. The key purpose of the leasing companies is to acquire, lease out and manage assets.