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

€ million

Loans

Investments

Securities

Total financial assets

1

Changed opening balance due to first-time application of IFRS 9.

Acquisition or production costs

 

 

 

 

As of 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 | 1/10/2018

351

481

9

921

Currency translation

1

0

0

1

Additions to consolidation group

0

0

0

0

Additions

3

26

0

29

Disposals

−5

−7

−7

−19

Reclassifications in accordance with IFRS 5

0

0

0

0

Transfers

−1

−2

0

−2

As of 30/9/2019

34

66

2

102

Depreciation

 

 

 

 

As of 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 | 1/10/2018

4

01

0

41

Currency translation

0

0

0

0

Additions, scheduled

0

0

0

0

Additions, impairment

2

0

0

2

Disposals

−2

0

0

−2

Reclassifications in accordance with IFRS 5

0

0

0

0

Reversals of impairment losses

0

0

0

0

Transfers

0

0

0

0

As of 30/9/2019

5

0

0

5

Carrying amount as of 1/10/2017

43

39

9

92

Carrying amount as of 30/9/2018

31

48

9

88

Carrying amount as of 30/9/2019

29

66

2

97

€ million

Investments accounted for using the equity method

Acquisition or production costs

 

As of 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 | 1/10/2018

179

Currency translation

−6

Additions to consolidation group

0

Additions

16

Disposals

−9

Reclassifications in accordance with IFRS 5

0

Transfers

0

As of 30/9/2019

180

Depreciation

 

As of 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 | 1/10/2018

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 30/9/2019

1

Carrying amount as of 1/10/2017

183

Carrying amount as of 30/9/2018

178

Carrying amount as of 30/9/2019

179

Disclosures on 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 latest available financial statements.

 

Habib METRO Pakistan

OPCI FWP

OPCI FWS

Mayfair group1

Miscellaneous

Total

€ million

2017/18

2018/19

2017/18

2018/19

2017/18

2018/19

2017/18

2018/19

2017/18

2018/19

2017/18

2018/19

Disclosures on the income statement

 

 

 

 

 

 

 

 

 

 

 

 

1

The Mayfair group comprises 10 real estate companies.

Sales revenues

12

11

23

18

23

18

14

17

127

141

199

204

Tax profit for the period from continuing operations

6

5

15

12

15

12

8

8

63

67

107

105

Tax profit for the period 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

6

5

15

12

15

12

8

8

63

67

107

105

Dividend payments to the group

2

2

1

1

3

4

0

0

1

8

7

14

Disclosures on the balance sheet

 

 

 

 

 

 

 

 

 

 

 

 

Non-current assets

47

38

287

279

270

264

190

185

Current assets

22

22

4

4

5

4

8

2

Non-current liabilities

2

2

116

108

110

96

0

0

Current liabilities

2

2

0

0

0

0

8

2

Net assets

64

56

175

176

164

172

190

184

Amount of the share (in %)

40

40

5

5

25

25

40

40

Share of the group in the net assets

26

22

9

9

41

43

75

73

Adjustment of asset values

15

13

Carrying amount of the share in the group

41

35

9

9

41

43

75

73

12

17

178

179

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 investment 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 by METRO companies.

Wholesale, METRO Wholesale
The METRO Wholesale segment comprises the METRO Wholesale sales line of METRO AG with 678 wholesale stores across 34 countries worldwide. This also includes the delivery business (Food Service Distribution) with the METRO delivery service and companies like the delivery specialists Classic Fine Foods, Pro à Pro and Rungis Express.
Glossary