23. Financial investments and investments accounted for using the equity method

€ million

 

Loans

 

Investments

 

Securities

 

Total financial assets

Acquisition or production costs

 

 

 

 

 

 

 

 

As of 1/10/2016

 

45

 

25

 

26

 

96

Currency translation

 

−1

 

0

 

0

 

−1

Additions to consolidation group

 

0

 

0

 

0

 

0

Additions

 

8

 

27

 

0

 

36

Disposals

 

−4

 

−2

 

−14

 

−19

Reclassifications in accordance with IFRS 5

 

0

 

0

 

0

 

0

Transfers

 

−2

 

0

 

−3

 

−5

As of 30/9 – 1/10/2017

 

47

 

51

 

9

 

107

Currency translation

 

−1

 

0

 

0

 

−1

Additions to consolidation group

 

0

 

0

 

0

 

0

Additions

 

6

 

19

 

0

 

26

Disposals

 

−3

 

−2

 

0

 

−4

Reclassifications in accordance with IFRS 5

 

−13

 

−17

 

0

 

−31

Transfers

 

−1

 

0

 

0

 

−1

As of 30/9/2018

 

36

 

51

 

9

 

95

Depreciation

 

 

 

 

 

 

 

 

As of 1/10/2016

 

4

 

4

 

0

 

7

Currency translation

 

0

 

0

 

0

 

0

Additions, scheduled

 

0

 

0

 

0

 

0

Additions, impairment

 

1

 

8

 

0

 

9

Disposals

 

0

 

0

 

0

 

0

Reclassifications in accordance with IFRS 5

 

0

 

0

 

0

 

0

Reversals of impairment losses

 

0

 

0

 

0

 

0

Transfers

 

−1

 

0

 

0

 

−1

As of 30/9 – 1/10/2017

 

4

 

12

 

0

 

15

Currency translation

 

0

 

0

 

0

 

0

Additions, scheduled

 

0

 

0

 

0

 

0

Additions, impairment

 

0

 

0

 

0

 

0

Disposals

 

0

 

−1

 

0

 

−1

Reclassifications in accordance with IFRS 5

 

0

 

−8

 

0

 

−8

Reversals of impairment losses

 

0

 

0

 

0

 

0

Transfers

 

1

 

0

 

0

 

1

As of 30/9/2018

 

4

 

3

 

0

 

7

Carrying amount as of 1/10/2016

 

41

 

22

 

26

 

89

Carrying amount as of 30/9/2017

 

43

 

39

 

9

 

92

Carrying amount as of 30/9/2018

 

31

 

48

 

9

 

88

€ million

 

Investments accounted for using the equity method

Acquisition or production costs

 

 

As of 1/10/2016

 

185

Currency translation

 

0

Additions to consolidation group

 

0

Additions

 

9

Disposals

 

−12

Reclassifications in accordance with IFRS 5

 

0

Transfers

 

2

As of 30/9 – 1/10/2017

 

184

Currency translation

 

−8

Additions to consolidation group

 

0

Additions

 

9

Disposals

 

−6

Reclassifications in accordance with IFRS 5

 

0

Transfers

 

0

As of 30/9/2018

 

179

Depreciation

 

 

As of 1/10/2016

 

2

Currency translation

 

0

Additions, scheduled

 

0

Additions, impairment

 

0

Disposals

 

−1

Reclassifications in accordance with IFRS 5

 

0

Reversals of impairment losses

 

0

Transfers

 

0

As of 30/9 – 1/10/2017

 

1

Currency translation

 

0

Additions, scheduled

 

0

Additions, impairment

 

0

Disposals

 

0

Reclassifications in accordance with IFRS 5

 

0

Reversals of impairment losses

 

0

Transfers

 

0

As of 30/9/2018

 

1

Carrying amount as of 1/10/2016

 

183

Carrying amount as of 30/9/2017

 

183

Carrying amount as of 30/9/2018

 

178

Disclosures about the major investments accounted for using the equity method can be found in the following table.

Apart from Habib METRO Pakistan (closing date 30 June), all companies mentioned above have 31 December as the closing date. The companies are included in the consolidated financial statements of METRO AG with their most recent available financial statements.

 

 

Habib METRO Pakistan

 

OPCI FWP

 

OPCI FWS

 

Mayfair group1

 

Miscellaneous

 

Total

€ million

 

2016/17

2017/18

 

2016/17

2017/18

 

2016/17

2017/18

 

2016/17

2017/18

 

2016/17

2017/18

 

2016/17

2017/18

1

The Mayfair group comprises 10 real estate companies.

Disclosures about the income statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales revenues

 

14

12

 

24

23

 

23

23

 

8

14

 

60

127

 

129

199

Tax profit for the period from continuing operations

 

7

6

 

16

15

 

13

15

 

4

8

 

7

63

 

47

107

Tax profit from discontinued operations

 

0

0

 

0

0

 

0

0

 

0

0

 

0

0

 

0

0

Other comprehensive income

 

0

0

 

0

0

 

0

0

 

0

0

 

0

0

 

0

0

Total comprehensive income

 

7

6

 

16

15

 

13

15

 

4

8

 

7

63

 

47

107

Dividend payments to the group

 

1

2

 

1

1

 

4

3

 

0

0

 

2

1

 

8

7

Notes to the balance sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

 

55

47

 

275

287

 

264

270

 

195

190

 

 

Current assets

 

23

22

 

4

4

 

2

5

 

6

8

 

 

Non-current liabilities

 

3

2

 

103

116

 

100

110

 

0

0

 

 

Current liabilities

 

3

2

 

0

0

 

0

0

 

5

8

 

 

Net assets

 

72

64

 

176

175

 

166

164

 

196

190

 

 

Amount of the share (in %)

 

40

40

 

5

5

 

25

25

 

40

40

 

 

Share of the group in the net assets

 

30

26

 

9

9

 

42

41

 

78

75

 

 

Adjustment of asset values

 

18

15

 

 

−1

 

 

 

Carrying amount of the share in the group

 

48

41

 

9

9

 

41

41

 

78

75

 

7

12

 

183

178

METRO’s representation on the supervisory board of OPCI FRENCH PROPERTIES – FWP ensures that significant influence is maintained and that the holding will be accounted for using the equity method although the share only amounts to 5%.

The investments accounted for using the equity method within the group are mainly associate companies and rental companies. The main purpose of the leasing companies is to acquire, lease out and manage assets. The assets of these real estate companies are exclusively leased to METRO companies.

Wholesale, METRO Wholesale
The METRO Wholesale segment comprises the METRO Wholesale sales line of METRO AG with more than 769 wholesale stores across 35 countries worldwide. This also includes the delivery business (Food Service Distribution) with companies like METRO delivery service and the delivery specialists Classic Fine Foods, Pro à Pro and Rungis Express.
Glossary