G15 Shares in associates, joint ventures and financial assets
|
2023 |
2024 |
|---|---|---|
Accumulated share of equity |
|
|
At the beginning of the year |
415 |
459 |
Reclassification |
–41 |
– |
Acquisition of associates and JV’s |
64 |
– |
Disposal |
– |
–2 |
Transfer to assets held for sale |
– |
–122 |
Capital injection |
29 |
0 |
Write-down |
– |
–125 |
Share of profits for the year |
15 |
–84 |
Less dividend received |
–15 |
–10 |
Translation differences during the year |
–7 |
17 |
Carrying amount at the end of year |
459 |
134 |
|
|
2023 |
2024 |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Country |
Revenue |
Profit |
Assets |
Liabilities |
Equity |
Group’s share, % |
Revenue |
Profit |
Assets |
Liabilities |
Equity |
Group’s share, % |
Associates |
|
|
|
|
|
|
|
|
|
|
|
|
|
3C Metrologic |
Mexico |
8 |
0 |
10 |
4 |
6 |
40.0 |
11 |
2 |
13 |
6 |
7 |
40.0 |
AWV Informatik AG |
Switzerland |
15 |
0 |
6 |
0 |
6 |
26.0 |
16 |
2 |
9 |
0 |
8 |
26.0 |
Beam IT Spa |
Italy |
–1 |
0 |
734 |
386 |
348 |
33.2 |
154 |
–83 |
517 |
405 |
112 |
33.2 |
Eimco Elecon |
India |
213 |
25 |
467 |
46 |
418 |
25.1 |
290 |
50 |
577 |
83 |
494 |
24.7 |
Fagersta Seco AB |
Sweden |
– |
– |
3 |
2 |
1 |
50.0 |
– |
– |
3 |
2 |
1 |
50.0 |
Fagerstahälsan AB |
Sweden |
9 |
0 |
8 |
5 |
3 |
33.3 |
9 |
0 |
7 |
5 |
2 |
33.3 |
Joint ventures |
|
|
|
|
|
|
|
|
|
|
|
|
|
Rocbolt Resins Pty Ltd. |
Australia |
217 |
12 |
100 |
48 |
52 |
50.0 |
280 |
24 |
124 |
58 |
67 |
50.0 |
Shanghai Innovatools Co. Ltd. |
China |
0 |
–1 |
7 |
0 |
7 |
47.1 |
– |
0 |
8 |
0 |
8 |
47.1 |
Talleres Sema-Dur, SL |
Spain |
51 |
6 |
44 |
13 |
32 |
50.0 |
52 |
7 |
51 |
13 |
38 |
50.0 |
VWR Cutting Tools |
Romania |
7 |
–5 |
22 |
25 |
–3 |
50.0 |
2 |
–1 |
28 |
24 |
–4 |
50.0 |
|
2023 |
2024 |
|---|---|---|
Long-term receivables associated companies |
85 |
16 |
Other financial assets |
862 |
500 |
Total |
947 |
516 |
|
2023 |
2024 |
||
|---|---|---|---|---|
|
Measured at fair value through OCI |
Measured at fair value through P&L |
Measured at fair value through OCI |
Measured at fair value through P&L |
At the beginning of the year |
507 |
297 |
569 |
293 |
Acquisition and Capital injection |
113 |
– |
23 |
– |
Disposal |
– |
– |
– |
–28 |
Revaluation |
–4 |
–3 |
–14 |
115 |
Reclassification |
–10 |
– |
–482 |
–1 |
Translation differences during the year |
–38 |
–1 |
24 |
2 |
Carrying amount at the end of year |
569 |
293 |
120 |
380 |
Additional information
Associates and joint ventures are recognized one month in arrears with the exception of for Beam IT Spa, which is recognized with a year in arrears and Eimco Elecon, which is reported once a year. The close of the reporting period for Eimco Elecon is at March 31, as no financial statements as of a later date have been obtained. During 2024, Sandvik has written down the full value of Beam IT Spa.
The dividends paid are included in the calculation of the proportion of equity.
§ Accounting principles
Associates and joint venture
Associates and joint ventures are recognized in accordance with the equity method in the consolidated financial statements. The share that belongs to Sandvik of the associated company and joint venture’s income, adjusted for dissolution of acquired surplus or deficit values, is recognized as a separate item in the consolidated income statement.
Other financial assets
Other financial assets are holdings in investees over which the Group does not hold a significant influence. Other financial assets are recognized as financial assets and are measured at fair value either through other comprehensive income or profit or loss, depending on the business model applicable for the type of holding. Dividends received are recognized in the income statement.