Note 5 Investments in associates and joint ventures
Associates | Joint ventures | Total | ||||
€ million | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 |
Carrying amount as at 1 January | 1 | 1 | 5 | 5 | 6 | 6 |
Movements | ||||||
Transfers of subsidiaries | - | - | 3 | - | 3 | - |
Revaluation of non-controlling interest | - | - | 9 | - | 9 | - |
Investments | - | - | 3 | - | 3 | - |
Share in results | 1 | - | -3 | 1 | -2 | 1 |
Dividend and other movements | - | - | -2 | -1 | -2 | -1 |
Total | 1 | - | 10 | - | 11 | - |
Carrying amount as at 31 December | 2 | 1 | 15 | 5 | 17 | 6 |
In 2021, the transfer of group companies item (€3 million) relates to the sale of 75% of the shares in 450connect. The revaluation of the remaining interest (€9 million) recognised in the income statement in respect of non-consolidated associates also relates to 450connect.
The investments in 2021 relate to payments of share premium, especially in 450connect.
In 2020, the share in the result of the joint ventures amounted to €1 million, and €1 million in dividend income was also received.
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 | Total result | ||||
€ million | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 |
Share in | ||||||
Profit or loss from continuing activities | 1 | - | -3 | 1 | -2 | 1 |
Profit or loss from discontinued activities | - | - | - | - | - | - |
Other comprehensive income | - | - | - | - | - | - |
Total comprehensive income | 1 | - | -3 | 1 | -2 | 1 |
Alliander has concluded arrangements with associates and joint ventures for granting financing and credit facilities totalling €26 million as at year-end 2021 (2020: €35 million). Under these facilities, an amount of €19 million was drawn down as at 31 December 2021 (2020: €23 million). Additionally, as at year-end 2021, there was also a liability under this heading amounting to €0.2 million in relation to overdraft facilities (2020: a receivable of €1 million).