Connect - Schneider Electric
Connect - Schneider Electric
Connect - Schneider Electric
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Note 14 Investments in associates<br />
Investments in associates can be analysed as follows:<br />
CONSOLIDATED FINANCIAL STATEMENTS<br />
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
% interest at Dec. 31 Share net assets at Dec. 31 Share in net profi t at Dec. 31<br />
2011 2010 2011 2010 2011 2010<br />
Delta Dore Finance 20.0% 20.0% 15 13 2 1<br />
Electroshield TM Samara 50.0% 50.0% 276 266 14 -<br />
Sunten <strong>Electric</strong> Equipment 50.0% 50.0% 96 85 - (1)<br />
Fuji <strong>Electric</strong> FA Components & Systems 36.8% 36.8% 96 76 12 5<br />
Other N/A N/A 6 7 - 1<br />
TOTAL - - 489 447 28 6<br />
Note 15 Financial assets<br />
15.1 – Available-for-sale financial assets<br />
Available-for-sale fi nancial assets, primarily comprising investments, are detailed below:<br />
% interest Gross value<br />
Dec. 31, 2011 Dec. 31, 2010<br />
Revaluation/<br />
impairment Fair value Fair value<br />
I – Listed available-for-sale fi nancial assets<br />
AXA 0.5% 111 (4) 107 132<br />
NVC Ligthing 9.2% 115 (33) 82 -<br />
Gold Peak Industries Holding Ltd 4.4% 6 (4) 2 3<br />
Total listed AFS<br />
II – Unlisted available-for-sale fi nancial assets<br />
232 (41) 191 135<br />
Citec, SEAT (1) 100.0% 6 - 6 -<br />
FCPR SEV1 100.0% 34 21 55 58<br />
FCPR SESS 54.5% 10 - 10 10<br />
Simak (2) 99.4% 5 - 5 5<br />
SE Venture 100.0% 7 (7) - -<br />
Others (3) 36 (7) 29 202<br />
Total unlisted AFS 98 7 105 275<br />
TOTAL AVAILABLE-FOR-SALE FINANCIAL<br />
ASSETS 330 (34) 296 410<br />
(1) Companies purchased in 2011.<br />
(2) Removed from the scope of consolidation – in liquidation.<br />
(3) Gross unit value of less than EUR5 million.<br />
The fair value of investments quoted in an active market corresponds<br />
to the price on the balance sheet date. The revaluation of listed<br />
investments over the year has had a negative impact on other<br />
equity reserves of EUR60 million.<br />
15.2 – Other non-current financial assets<br />
Non Current fi nancial assets total EUR261 million at December 31,<br />
2011 and include potential assets linked to acquisitions.<br />
15.3 – Current financial assets<br />
Current fi nancial assets total EUR104 million at December 31, 2011<br />
and comprise short-term investments.<br />
2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC<br />
179<br />
5