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

Summarized financial Information of associated companies, and the Group's Share

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
(sold in June 2018)

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
(acquired in July 2018)

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
(sold in August 2017)

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.