Note 15. Investments in associated companies
Group shares in associated companies |
2017 |
2018 |
Accumulated share of equity |
|
|
At beginning of year |
246 |
269 |
Divestment of associates |
–24 |
–214 |
Share of profits for the year |
56 |
46 |
Less dividend received |
–6 |
–1 |
Translation differences during the year |
–3 |
0 |
Carrying amount at end of year |
269 |
100 |
Parent Company’s shares in associated companies |
2017 |
2018 |
Accumulated cost |
|
|
At beginning of year |
4 |
0 |
Divestment of associates |
–4 |
— |
Carrying amount at end of year |
0 |
0 |
2018 |
Country |
Revenue |
Profit |
Assets |
Liabilities |
Equity |
Group’s share, % |
Owned directly by Sandvik AB |
|
|
|
|
|
|
|
— |
— |
— |
— |
— |
— |
— |
— |
|
|
|
|
|
|
|
|
Owned indirectly by Sandvik AB |
|
|
|
|
|
|
|
Eimco Elecon |
India |
188 |
20 |
431 |
56 |
375 |
25,1 |
Fagersta Stainless AB |
Sweden |
1,054 |
69 |
— |
— |
— |
— |
Fagersta Seco AB |
Sweden |
— |
0 |
3 |
2 |
1 |
50,0 |
Fagerstahälsan AB |
Sweden |
7 |
0 |
9 |
6 |
2 |
50,0 |
3C Metrologic |
Mexico |
— |
— |
— |
— |
— |
40,0 |
Shanghai Innovatools Co. Ltd. |
China |
6 |
0 |
12 |
3 |
9 |
40,0 |
|
|
|
|
|
|
|
|
2017 |
Country |
Revenue |
Profit |
Assets |
Liabilities |
Equity |
Group’s share, % |
Owned directly by Sandvik AB |
|
|
|
|
|
|
|
Oerlikon Balzers Sandvik Coating AB |
Sweden |
60 |
6 |
— |
— |
— |
— |
|
|
|
|
|
|
|
|
Owned indirectly by Sandvik AB |
|
|
|
|
|
|
|
Eimco Elecon |
India |
260 |
32 |
401 |
45 |
356 |
25.1 |
Fagersta Stainless AB |
Sweden |
1,560 |
63 |
819 |
464 |
355 |
50.0 |
Fagersta Seco AB |
Sweden |
0 |
0 |
3 |
2 |
1 |
50.0 |
Fagerstahälsan AB |
Sweden |
7 |
0 |
8 |
6 |
2 |
50.0 |
Shanghai Innovatools Co. Ltd. |
China |
–6 |
0 |
12 |
3 |
9 |
40.0 |
Additional information
The close of the reporting period for the associate Eimco Elecon is 31 March 2018. The dividend paid in 2018 is included in the calculation of the proportion of equity. No financial statements as of a later date have been obtained. Other associates are recognized one month in arrears. The associated company Fagersta Stainless AB was divested in 2018. Revenue and profit were recognized up to the date of sale. The associated company 3C Metrologic was acquired in 2018. Revenue and profit were not recognized in 3C Metrology under 2018.