23. Financial investments and investments accounted for using the equity method
The development of financial assets is shown in the following table.
€ million |
Loans |
Investments |
Securities |
Total |
||
|---|---|---|---|---|---|---|
Acquisition or production costs |
|
|
|
|
||
As of 1/10/2018 |
35 |
47 |
9 |
91 |
||
Currency translation |
1 |
0 |
0 |
1 |
||
Additions to consolidation group |
0 |
0 |
0 |
0 |
||
Additions1 |
3 |
26 |
0 |
29 |
||
Disposals1 |
−5 |
−7 |
−7 |
−19 |
||
Reclassifications in accordance with IFRS 5 |
0 |
0 |
0 |
0 |
||
Transfers |
−1 |
0 |
0 |
−1 |
||
As of 30/9/2019 and 1/10/2019 |
34 |
66 |
2 |
102 |
||
Currency translation |
−2 |
0 |
0 |
−2 |
||
Additions to consolidation group |
0 |
0 |
0 |
0 |
||
Additions1 |
2 |
11 |
0 |
12 |
||
Disposals1 |
−2 |
−6 |
0 |
−9 |
||
Reclassifications in accordance with IFRS 5 |
0 |
0 |
0 |
0 |
||
Transfers |
0 |
0 |
0 |
0 |
||
As of 30/9/2020 |
32 |
70 |
2 |
104 |
||
Depreciation |
|
|
|
|
||
As of 1/10/2018 |
4 |
0 |
0 |
4 |
||
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 and 1/10/2019 |
5 |
0 |
0 |
5 |
||
Currency translation |
0 |
0 |
0 |
0 |
||
Additions, scheduled |
0 |
0 |
0 |
0 |
||
Additions, impairment |
1 |
0 |
0 |
1 |
||
Disposals |
0 |
0 |
0 |
0 |
||
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 30/9/2020 |
6 |
0 |
0 |
6 |
||
Carrying amount as of 1/10/2018 |
31 |
47 |
9 |
86 |
||
Carrying amount as of 30/9/2019 |
29 |
66 |
2 |
97 |
||
Carrying amount as of 30/9/2020 |
26 |
70 |
2 |
98 |
||
|
||||||
|
Habib METRO Pakistan |
OPCI FWP |
OPCI FWS |
Mayfair group1 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
2018/19 |
2019/20 |
2018/19 |
2019/20 |
2018/19 |
2019/20 |
2018/19 |
2019/20 |
||||
Disclosures on the income statement |
|
|
|
|
|
|
|
|
||||
Sales revenues |
11 |
10 |
18 |
19 |
18 |
18 |
17 |
14 |
||||
Tax profit for the period from |
5 |
10 |
12 |
12 |
12 |
13 |
8 |
9 |
||||
Tax profit for the period from |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
||||
Other comprehensive income |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
||||
Total comprehensive income |
5 |
10 |
12 |
12 |
12 |
13 |
8 |
9 |
||||
Dividend payments to the group |
2 |
2 |
1 |
1 |
4 |
4 |
0 |
0 |
||||
Disclosures on the balance sheet |
|
|
|
|
|
|
|
|
||||
Non-current assets |
38 |
35 |
279 |
271 |
264 |
251 |
185 |
179 |
||||
Current assets |
22 |
22 |
4 |
8 |
4 |
7 |
2 |
2 |
||||
Non-current liabilities |
2 |
6 |
108 |
107 |
96 |
96 |
0 |
0 |
||||
Current liabilities |
2 |
3 |
0 |
0 |
0 |
0 |
2 |
2 |
||||
Net assets |
56 |
48 |
176 |
172 |
172 |
161 |
184 |
179 |
||||
Amount of the share (in %) |
40 |
40 |
5 |
5 |
25 |
25 |
40 |
40 |
||||
Share of the group in the net assets |
22 |
19 |
9 |
9 |
43 |
40 |
73 |
72 |
||||
Adjustment of asset values |
13 |
11 |
– |
– |
– |
– |
– |
– |
||||
Carrying amount of the share |
35 |
31 |
9 |
9 |
43 |
40 |
73 |
71 |
||||
|
||||||||||||
The disclosures below provide information on investments accounted for using the equity method.
As of 30 September 2020, shares in investments accounted for using the equity method amounted to €421 million (30/9/2019: €179 million). 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.
|
WM Holding (HK) Limited |
Miscellaneous |
Total |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|
€ million |
2018/19 |
2019/202 |
2018/19 |
2019/20 |
2018/19 |
2019/20 |
||||
Disclosures on the income statement |
|
|
|
|
|
|
||||
Sales revenues |
– |
– |
141 |
146 |
204 |
207 |
||||
Tax profit for the period from |
– |
– |
67 |
67 |
105 |
111 |
||||
Tax profit for the period from |
– |
– |
0 |
0 |
0 |
0 |
||||
Other comprehensive income |
– |
– |
0 |
0 |
0 |
0 |
||||
Total comprehensive income |
– |
– |
67 |
67 |
105 |
111 |
||||
Dividend payments to the group |
– |
– |
8 |
7 |
14 |
13 |
||||
Amount of the share (in %) |
– |
20 |
– |
– |
– |
– |
||||
Carrying amount of the share |
– |
250 |
17 |
20 |
179 |
421 |
||||
|
||||||||||
METRO’s representation on the supervisory board of OPCI FRENCH WHOLESALE 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 mainly leased by METRO companies.
- Disclosures on assets held for sale/liabilities in connection with the disposal of METRO China can be found under no. 43 – discontinued operations.