8. Investments in Associates and Joint Ventures
Audited information- Index
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- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
in CHF m |
|
2020 |
|
2019 |
|---|---|---|---|---|
As per 1 January |
|
349 |
|
368 |
Change in the scope of consolidation |
|
— |
|
1 |
Additions |
|
2 |
|
1 |
Disposals |
|
–1 |
|
–10 |
Share in profit |
|
63 |
|
52 |
Share in other comprehensive income of associates and joint ventures |
|
1 |
|
–9 |
Dividends received |
|
–44 |
|
–42 |
Exchange rate differences |
|
–26 |
|
–12 |
At 31 December |
|
344 |
|
349 |
Thereof joint ventures |
|
118 |
|
109 |
Reclassified to held for sale (see note 25) |
|
–191 |
|
–101 |
Total as reported in balance sheet at 31 December |
|
153 |
|
248 |
The key financial data of the Group’s principal associates is as follows:
|
|
Infraserv GmbH & Co. Höchst KG |
|
Infraserv GmbH & Co. Gendorf KG |
|
Infraserv GmbH & Co. Knapsack KG |
|
Others |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Germany |
|
Germany |
|
Germany |
|
|
||||||||
in CHF m |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Summarized financial information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest held % |
|
33% |
|
33% |
|
50% |
|
50% |
|
21% |
|
21% |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
927 |
|
1 025 |
|
234 |
|
246 |
|
234 |
|
256 |
|
115 |
|
174 |
Total comprehensive income |
|
59 |
|
34 |
|
34 |
|
24 |
|
13 |
|
13 |
|
16 |
|
14 |
Net income |
|
63 |
|
57 |
|
34 |
|
29 |
|
13 |
|
13 |
|
16 |
|
14 |
Other comprehensive income |
|
–4 |
|
–23 |
|
— |
|
–5 |
|
— |
|
— |
|
— |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
265 |
|
287 |
|
91 |
|
91 |
|
66 |
|
58 |
|
86 |
|
84 |
Non-current assets |
|
815 |
|
678 |
|
199 |
|
184 |
|
126 |
|
122 |
|
23 |
|
26 |
Current liabilities |
|
–213 |
|
–198 |
|
–77 |
|
–83 |
|
–63 |
|
–54 |
|
–31 |
|
–31 |
Non-current liabilities |
|
–605 |
|
–505 |
|
–76 |
|
–67 |
|
–41 |
|
–36 |
|
–3 |
|
–4 |
Net assets |
|
262 |
|
262 |
|
137 |
|
125 |
|
88 |
|
90 |
|
75 |
|
75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of book value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Book value beginning of period |
|
86 |
|
95 |
|
63 |
|
60 |
|
18 |
|
19 |
|
73 |
|
86 |
Additions |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
2 |
|
1 |
Disposals |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
–1 |
|
–10 |
Change in the scope of consolidation |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
1 |
Share in profit for the period |
|
21 |
|
19 |
|
17 |
|
15 |
|
3 |
|
3 |
|
6 |
|
2 |
Share in other comprehensive income |
|
–1 |
|
–7 |
|
— |
|
–2 |
|
— |
|
— |
|
— |
|
— |
Dividends received |
|
–18 |
|
–17 |
|
–10 |
|
–8 |
|
–3 |
|
–3 |
|
–5 |
|
–5 |
Foreign exchange rate differences |
|
–1 |
|
–4 |
|
–1 |
|
–2 |
|
1 |
|
–1 |
|
–23 |
|
–2 |
Book value end of the period |
|
87 |
|
86 |
|
69 |
|
63 |
|
19 |
|
18 |
|
52 |
|
73 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Group’s share in net assets |
|
87 |
|
86 |
|
69 |
|
63 |
|
19 |
|
19 |
|
52 |
|
73 |
Taxes, minorities and other adjustments |
|
— |
|
— |
|
— |
|
— |
|
— |
|
–1 |
|
— |
|
— |
Book value at the end of the period |
|
87 |
|
86 |
|
69 |
|
63 |
|
19 |
|
18 |
|
52 |
|
73 |
Reclassified to held for sale (see note 25) |
|
55 |
|
86 |
|
— |
|
— |
|
— |
|
— |
|
28 |
|
15 |
The Infraserv companies were set up by the former Hoechst group to cater to the infrastructure needs of its subsidiaries in Germany prior to 1997. The shareholdings in associates summarized under »Others« concern mainly companies specializing in selling Clariant products.
On 31 December 2020, accumulated unrecognized losses amounted to CHF 3 million (2019: CHF 1 million).
The key financial data of the Group’s principal joint ventures is as follows:
|
|
Scientific Design Company Inc. |
|
Global Amines group |
||||
|---|---|---|---|---|---|---|---|---|
|
|
USA |
|
|
||||
in CHF m |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Summarized financial information |
|
|
|
|
|
|
|
|
Interest held % |
|
50% |
|
50% |
|
50% |
|
50% |
|
|
|
|
|
|
|
|
|
Revenue |
|
121 |
|
131 |
|
195 |
|
188 |
Total comprehensive income |
|
17 |
|
18 |
|
19 |
|
5 |
Net income |
|
17 |
|
18 |
|
14 |
|
7 |
Other comprehensive income |
|
— |
|
— |
|
5 |
|
–2 |
|
|
|
|
|
|
|
|
|
Current assets |
|
87 |
|
80 |
|
96 |
|
84 |
Non-current assets |
|
30 |
|
32 |
|
67 |
|
66 |
Current liabilities |
|
–25 |
|
–20 |
|
–77 |
|
–74 |
Non-current liabilities |
|
–8 |
|
–8 |
|
–20 |
|
–28 |
Net assets |
|
84 |
|
84 |
|
66 |
|
48 |
|
|
|
|
|
|
|
|
|
Reconciliation of book value |
|
|
|
|
|
|
|
|
Book value beginning of period |
|
108 |
|
108 |
|
1 |
|
— |
Share in profit for the period |
|
9 |
|
12 |
|
7 |
|
1 |
Share of other comprehensive income |
|
— |
|
— |
|
2 |
|
— |
Dividends received |
|
–8 |
|
–9 |
|
— |
|
— |
Foreign exchange rate differences |
|
–1 |
|
–3 |
|
— |
|
— |
Book value end of the period |
|
108 |
|
108 |
|
10 |
|
1 |
|
|
|
|
|
|
|
|
|
Group’s share in net assets at the end of the period |
|
42 |
|
42 |
|
33 |
|
24 |
Fair value adjustment/goodwill |
|
66 |
|
66 |
|
— |
|
— |
Impairment |
|
— |
|
— |
|
–23 |
|
–23 |
Taxes, minorities and other adjustments |
|
— |
|
— |
|
— |
|
— |
Book value at the end of the period |
|
108 |
|
108 |
|
10 |
|
1 |
Reclassified to held for sale (see note 25) |
|
108 |
|
— |
|
— |
|
— |
Scientific Design Company Inc. is a producer of ethylene and oxide catalysts headquartered in the United States and has around 140 employees. Co-owner is the Saudi Arabia-based Sabic group.
Global Amines group is a joint venture of Clariant and Wilmar International Limited, a leading Asian agribusiness group, headquartered in Singapore and serves as a global platform for the production and sale of fatty amines and selected amine derivatives. It also has worldwide sales, distribution and production facilities. The joint venture has existed since 26 October 2012 and is operated as part of the Business Unit ICS.
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
A substance that lowers the activation energy, thereby increasing the rate of a chemical reaction without being consumed by the reaction itself. View entire glossary