Note 5 Investments in associates and joint ventures
Associates | Joint ventures | Total | ||||
€ million | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 |
Carrying amount as at 1 January | 8 | 9 | 1 | 2 | 9 | 11 |
Movements | ||||||
Investments | 5 | 3 | - | - | 5 | 3 |
Share in results | -4 | -5 | 2 | 1 | -2 | -4 |
Impairments | -3 | -1 | - | - | -3 | -1 |
Dividend and other movements | - | 2 | - | -2 | - | - |
Total | -2 | -1 | 2 | -1 | - | -2 |
Carrying amount as at 31 December | 6 | 8 | 3 | 1 | 9 | 9 |
Alliander increased the capital invested in existing associates (Locamation and The New Motion) by €5 million.
The impairments in 2016 relate to a non-controlling interest. In the preceding year, impairments also related to a non-controlling interest, as well as to the termination of the interest held by Alliander Participaties B.V. in Green-A-Tec B.V. on 4 December 2015.
In the case of a number of associates, Alliander's interest is less than 20%. For details, see the list of principal subsidiaries, associates and joint arrangements in the 'Notes to the company financial statement' part of the report. In view of the degree of control in relation to the associates concerned, however, it has been determined that there is significant influence and the investments have been included in the investments in associates.
Share in results of associates and joint ventures
Associates | Joint ventures | Total result | ||||
€ million | 2016 | 2015 | 2016 | 2015 | 2016 | 2015 |
Share in | ||||||
Profit or loss from continued activities | -7 | -5 | 2 | 1 | -5 | -4 |
Profit or loss from discontinued activities | - | - | - | - | - | - |
Other comprehensive income | - | - | - | - | - | - |
Total comprehensive income | -7 | -5 | 2 | 1 | -5 | -4 |
Alliander has concluded arrangements with associates and joint ventures for granting finance and credit facilities totalling €39 million as at year-end 2016 (2015: €32 million). Under these facilities, an amount of €19 million was drawn down as at 31 December 2016 (2015: €24 million). The arrangements include convertible loans of €7 million (2015: €9 million). The unrecognised share of losses in 2016 amounts €0.4 million for exclusively joint ventures (accumulated €4 million).
The finance also extends to current-account liabilities of €9 million as at year-end 2016 (2015: €16 million). The loans and accrued interest and repayments in the case of one of the entities concerned have been written off. The pledge obtained on a loan granted in 2014 was increased to €2 million in 2016 (2015: €1.6 million).