8. Financial Assets
Audited information- Index
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in CHF m |
2017 |
2016 |
||
As per 1 January |
71 |
77 |
||
Additions |
— |
9 |
||
Repayments and disposals |
–27 |
–17 |
||
Exchange rate differences |
6 |
2 |
||
At 31 December |
50 |
71 |
Financial assets include loans to joint ventures, loans arising on disposals and a number of small-scale participations in companies, mostly in Germany and in Switzerland, engaged in activities closely related to the ones of Clariant.
In 2017, loans in the amount of EUR 12 million and of USD 10 million to associates and to companies involved in previously realized disposal projects were repaid.
In 2016, Clariant acquired a 17% stake in BioSpectrum Inc, a South Korean leading developer and supplier of specialty active cosmetics’ ingredients derived from Asia’s diverse flora. The purchase price amounted to CHF 8 million.
Loans are carried at amortized cost.
Financial assets are mostly denominated in euros, US-dollars and in Swiss francs.
Joint ventures are all activities in which Clariant is involved with another partner. The accounting method applied for joint ventures depends on the specific conditions of the participation. VIEW ENTIRE GLOSSARY