Note 15. Investments in associated companies
Group shares in associated companies |
2018 |
2019 |
|---|---|---|
Accumulated share of equity |
|
|
At the beginning of the year |
269 |
100 |
Acquisition of associates |
— |
190 |
Divestment of associates |
–214 |
— |
Share of profits for the year |
46 |
9 |
Less dividend received |
–1 |
–1 |
Translation differences during the year |
–0 |
–5 |
Carrying amount at the end of year |
100 |
292 |
Parent Company’s shares in associated companies |
2018 |
2019 |
|---|---|---|
Accumulated cost |
|
|
At the beginning of the year |
0 |
0 |
Carrying amount at the end of year |
0 |
0 |
Summarized financial information of associated companies, and the Group’s share
2019 |
Country |
Revenue |
Profit |
Assets |
Liabilities |
Equity |
Group’s share, % |
|---|---|---|---|---|---|---|---|
Owned directly by Sandvik AB |
— |
— |
— |
— |
— |
— |
— |
Owned indirectly by Sandvik AB |
|
|
|
|
|
|
|
Eimco Elecon |
India |
259 |
31 |
461 |
50 |
410 |
25.1 |
Fagersta Seco AB |
Sweden |
— |
— |
3 |
2 |
1 |
50.0 |
Fagerstahälsan AB |
Sweden |
8 |
–0 |
8 |
6 |
2 |
50.0 |
Beam IT Spa (acquired in July 2019 ) |
Italy |
16 |
2 |
361 |
89 |
272 |
30.0 |
STC Rental Co. Ltd. (acquired in July 2019 ) |
Japan |
2 |
–0 |
1 |
0 |
1 |
14.5 |
3C Metrologic |
Mexico |
13 |
0 |
10 |
7 |
3 |
40.0 |
Shanghai Innovatools Co. Ltd. |
China |
5 |
–1 |
11 |
2 |
8 |
40.0 |
|
|
|
|
|
|
|
|
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 (sold in June 2018 ) |
Sweden |
1,054 |
69 |
— |
— |
— |
— |
Fagersta Seco AB |
Sweden |
— |
— |
3 |
2 |
1 |
50.0 |
Fagerstahälsan AB |
Sweden |
7 |
— |
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 |
Additional information
The close of the reporting period for the associate Eimco Elecon is 31 March 2019. The dividend paid in 2019 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 with an exception for STC Rental Co. Ltd. that is recognized with a quarter in arrears. The associated companies Beam IT Spa and STC Rental Co. Ltd. were acquired in 2019.