Note 39 Investments in subsidiaries and associates
€ million | Investments in subsidiaries | Investments in associates | Total |
Carrying amount as at 1 January 2016 | 2,227 | 1 | 2,228 |
Movements in 2016 | |||
Dividends received | -216 | - | -216 |
Result for the year | 84 | - | 84 |
Issue of share capital | 73 | - | 73 |
Movement in revaluation reserve | -8 | - | -8 |
Sale interest Endinet | -307 | - | -307 |
Other changes | 1 | - | 1 |
Total | -373 | - | -373 |
Carrying amount as at 31 December 2016 | 1,854 | 1 | 1,855 |
Movements in 2017 | |||
Dividends received | -45 | - | -45 |
Result for the year | 169 | - | 169 |
Issue of share capital | 511 | - | 511 |
Movement in revaluation reserve | -8 | - | -8 |
Other changes | -2 | - | -2 |
Total | 625 | - | 625 |
Carrying amount as at 31 December 2017 | 2,479 | 1 | 2,480 |
In 2017, an amount of €45 million (2016: €216 million) was received from the subsidiaries of Liander N.V., Kenter B.V., Liandon B.V. and Utility Connect B.V. in respect of dividends. The investments of €511 million in 2017 relate to payments of capital invested in the subsidiaries of Alliander N.V.
The dividends received from subsidiaries and payments of capital invested in them result from the capital restructuring of these companies in line with Alliander’s policy. Utility Connect B.V. is included in the company financial statements as a joint operation, in which Alliander’s share is 59.28%.
The various share capital investments are listed separately under the heading ‘Subsidiaries, associates and joint arrangements’ in the ‘Other information’ part of the report.