Note 39 Investments in subsidiaries and associates
€ million | Investments in subsidiaries | Investments in associates | Total |
Carrying amount as at 1 January 2017 | 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 |
Movements in 2018 | |||
Dividends received | -185 | - | -185 |
Result for the year | 213 | - | 213 |
Issue of share capital | 68 | - | 68 |
Movement in revaluation reserve | -38 | - | -38 |
Sale of interest in Allego | -44 | - | -44 |
Other changes | 5 | - | 5 |
Total | 19 | - | 19 |
Carrying amount as at 31 December 2018 | 2,498 | 1 | 2,499 |
In 2018, an amount of €185 million (2017: €45 million) was received from the subsidiaries of Liander N.V., Kenter B.V., Qirion B.V. and Utility Connect B.V. in respect of dividends. The investments of €68 million in 2018 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.