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 financial assets |
||
|---|---|---|---|---|---|---|
Acquisition or production costs |
|
|
|
|
||
As of 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 and 1/10/2020 |
32 |
70 |
2 |
104 |
||
Currency translation |
0 |
0 |
0 |
0 |
||
Additions to consolidation group |
0 |
0 |
0 |
0 |
||
Additions1 |
2 |
15 |
0 |
18 |
||
Disposals1 |
−2 |
−23 |
0 |
−25 |
||
Reclassifications in accordance with IFRS 5 |
0 |
0 |
0 |
0 |
||
Transfers |
0 |
0 |
0 |
0 |
||
As of 30/9/2021 |
32 |
63 |
2 |
97 |
||
Depreciation |
|
|
|
|
||
As of 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 and 1/10/2020 |
6 |
0 |
0 |
6 |
||
Currency translation |
0 |
0 |
0 |
0 |
||
Additions, scheduled |
0 |
0 |
0 |
0 |
||
Additions, impairment |
0 |
0 |
0 |
0 |
||
Disposals |
−1 |
0 |
0 |
−1 |
||
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 30/9/2021 |
5 |
0 |
0 |
5 |
||
Carrying amount as of 1/10/2019 |
29 |
66 |
2 |
97 |
||
Carrying amount as of 30/9/2020 |
26 |
70 |
2 |
98 |
||
Carrying amount as of 30/9/2021 |
27 |
63 |
2 |
92 |
||
|
||||||
The disclosures below provide information on investments accounted for using the equity method.
As of 30 September 2021, shares in investments accounted for using the equity method amounted to €361 million (30/9/2020: €421 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.
|
Habib METRO Pakistan |
OPCI FWP |
OPCI FWS |
Mayfair-group1 |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
€ million |
2019/20 |
2020/21 |
2019/20 |
2020/21 |
2019/20 |
2020/21 |
2019/20 |
2020/21 |
||
Disclosures on the income statement |
|
|
|
|
|
|
|
|
||
Sales revenues |
10 |
11 |
19 |
19 |
18 |
17 |
14 |
– |
||
Tax profit for the period from continuing operations |
10 |
6 |
12 |
12 |
13 |
13 |
9 |
– |
||
Tax profit for the period from discontinued operations |
– |
– |
– |
– |
– |
– |
– |
– |
||
Other comprehensive income |
– |
– |
– |
– |
– |
– |
– |
– |
||
Total comprehensive income |
10 |
6 |
12 |
12 |
13 |
13 |
9 |
– |
||
Dividend payments to the group |
2 |
2 |
1 |
3 |
4 |
5 |
– |
– |
||
Disclosures on the balance sheet |
|
|
|
|
|
|
|
|
||
Non-current assets |
35 |
35 |
271 |
267 |
251 |
254 |
179 |
– |
||
Current assets |
22 |
25 |
8 |
4 |
7 |
6 |
2 |
– |
||
Non-current liabilities |
6 |
6 |
107 |
102 |
96 |
94 |
0 |
– |
||
Current liabilities |
3 |
2 |
0 |
0 |
0 |
0 |
2 |
– |
||
Net assets |
48 |
52 |
172 |
168 |
161 |
166 |
179 |
– |
||
Amount of the share (in %) |
40 |
40 |
5 |
5 |
25 |
25 |
40 |
– |
||
Share of the group in the net assets |
19 |
21 |
9 |
8 |
40 |
41 |
72 |
– |
||
Adjustment of asset values |
11 |
12 |
– |
– |
– |
– |
– |
– |
||
Carrying amount of the share in the group |
31 |
33 |
9 |
8 |
40 |
41 |
72 |
– |
||
|
||||||||||
|
WM Holding (HK) Limited |
Miscellaneous |
Total |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|
€ million |
2019/202 |
2020/213 |
2019/20 |
2020/21 |
2019/20 |
2020/21 |
||||
Disclosures on the income statement |
|
|
|
|
|
|
||||
Sales revenues |
– |
1,861 |
146 |
177 |
207 |
2,085 |
||||
Tax profit for the period from continuing operations |
– |
8 |
67 |
75 |
111 |
114 |
||||
Tax profit for the period from discontinued operations |
– |
– |
– |
– |
– |
– |
||||
Other comprehensive income |
– |
−45 |
0 |
0 |
0 |
−45 |
||||
Total comprehensive income |
– |
−37 |
67 |
75 |
111 |
69 |
||||
Dividend payments to the group |
– |
– |
7 |
6 |
13 |
16 |
||||
Disclosures on the balance sheet |
|
|
|
|
|
|
||||
Non-current assets |
– |
2,534 |
– |
– |
– |
– |
||||
Current assets |
– |
872 |
– |
– |
– |
– |
||||
Non-current liabilities |
– |
1,315 |
– |
– |
– |
– |
||||
Current liabilities |
– |
804 |
– |
– |
– |
– |
||||
Net assets |
– |
1,287 |
– |
– |
– |
– |
||||
Amount of the share (in %) |
20 |
20 |
– |
– |
– |
– |
||||
Share of the group in the net assets |
– |
258 |
– |
– |
– |
– |
||||
Adjustment of asset values |
– |
– |
– |
– |
– |
– |
||||
Carrying amount of the share in the group |
250 |
258 |
20 |
22 |
421 |
361 |
||||
|
||||||||||
The other comprehensive income is the result of the currency translation outside of profit or loss in the consolidated financial statements of WM Holding (HK) Limited.
METRO’s representation on the supervisory board of OPCI FRENCH WHOLESALE PROPERTIES – FWP means that significant influence is maintained and equity accounting is appropriate, 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.
The investments in the Mayfair group were sold at the beginning of the current financial year.
- A detailed description of the disposal of the investments in the Mayfair group can be found in no. 42 – Assets held for sale and liabilities.