Note 5 Investments in associates and joint ventures
Associates | Joint ventures | Total | ||||
€ million | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 |
Carrying amount as at 1 January | 6 | 8 | 3 | 1 | 9 | 9 |
Movements | ||||||
Investments | - | 5 | - | - | - | 5 |
Divestments | -2 | - | - | - | -2 | - |
Share in results | -3 | -4 | 1 | 2 | -2 | -2 |
Impairments | - | -3 | - | - | - | -3 |
Dividend and other movements | - | - | -2 | - | -2 | - |
Total | -5 | -2 | -1 | 2 | -6 | - |
Carrying amount as at 31 December | 1 | 6 | 2 | 3 | 3 | 9 |
in 2017, Alliander disposed of its non-controlling interests in Redstack, The New Motion and Ziut. A book profit of €11 million was achieved on the sale of these interests.
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 ‘Other information’ 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 | Comprehensive income | ||||
€ million | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 |
Share in | ||||||
Profit or loss from continued activities | -3 | -7 | 1 | 2 | -2 | -5 |
Profit or loss from discontinued activities | - | - | - | - | - | - |
Other comprehensive income | - | - | - | - | - | - |
Comprehensive income | -3 | -7 | 1 | 2 | -2 | -5 |
Alliander has concluded arrangements with associates and joint ventures for granting finance and credit facilities totalling €37 million as at year-end 2017 (2016: €39 million). Under these facilities, an amount of €22 million was drawn down as at 31 December 2017 (2016: €19 million). The arrangements include convertible loans of €3 million (2016: €7 million). Additionally, as at year-end 2017, there was also a receivable under this heading amounting to €25 million in relation to an overdraft facility (2016: €9 million payable). The loans and accrued interest and repayments in the case of two of the entities concerned have been written off. The pledge obtained on a loan granted in 2014 stood at €2 million as at 31 December 2017 (2016: €2 million).