183 348
183
Yangtze Optical Fibre and Cable Joint Stock Limited Company
was Euro 128 million, compared with a carrying amount of
Euro 109 million.
Oman Cables Industry (SAOG) is based in the Sultanate of
Oman and is listed on the local stock exchange. The company
and its subsidiaries manufacture and sell power cables and
conductors and operate mainly in the local market, the Middle
East and North Africa. At 31 December 2014, the fair value of
the investment in Oman Cables Industry (SAOG) was Euro 129
million, compared with a carrying amount of Euro 67 million.
Kabeltrommel Gmbh & Co. K.G. is a German company that
heads a consortium for the production, procurement, mana-
gement and sale of disposable and reusable cable carrying
devices (reels). The services offered by the company include
both the sale of such devices, and the complete management
of logistics services such as shipping, handling and the
subsequent retrieval of the devices. The company operates
primarily in the German market.
Elkat Ltd. is based in Russia and manufactures and sells
copper conductors; it is the only company certified by the LME
to test copper cathodes for the local market.
The following table reconciles the share of equity in the main
associates with the corresponding carrying amount of the
investment:
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
(1) At 31 December 2014 the value of goodwill includes Euro 14 million in relation to Yangtze Optical Fibre and Cable Joint Stock Limited Company, reclassified to
investments in associates after the stock dilution.
Investments in associates
31 December 2014
31 December 2013 (*)
Opening balance
68
64
Reclassification from investments in JV to associates
105
-
Net profit/(loss) for the year
26
17
Dividends received
(36)
(9)
Currency translation differences
2
(5)
Other movements
1
1
Closing balance
166
68
Effects of YOFC dilution
8
-
Goodwill
(1)
24
10
Carrying amount of investments
198
78
(in millions of Euro)