APC 2003 Annual Report Download - page 80

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Consolidated and Parent Company Financial Statements
78
Note 7. Equity Investments
Investments accounted for by the equity method are detailed as follows:
% interest Share in net assets Share in net income
at December 31 at December 31 at December 31
(
€
millions)
2003 2002 2003 2002 2003 2002
MGE Finances (1) 36.1 % 32.3 % 35.5 36.1 (5.0) (10.2)
VA Tech Schneider (2) 40.0 % 40.0 % 16.9 29.4 (13.1) (9.4)
Delta Dore Finance 20.0 % 20.0 % 10.1 9.1 1.0 0.9
Entivity 31.2 % 31.2 % 0.8 1.5 (0.7) (8.9)
Other N/A N/A (2.8) 0.1 (0.3) (0.6)
Total 60.5 76.2 (18.1) (28.2)
(1) The Group has consolidated its share of MGE Finance’s loss for the period from October 1, 2002 to September 30, 2003 using
the applicable dispensations as described in Note 2.3. See Note 27.
(2) VA Tech Schneider High Voltage GmbH was formed with VA Tech (TD) GmbH & Co KEG to compete in the high voltage equipment
business.
The summarized balance sheet and statement of income data for MGE Finances SAS and VA Tech Schneider
High Voltage GmbH are as follows:
7.1 - MGE Finances
a) Consolidated Balance Sheet
(
€
millions)
Sept. 30, 2003 Sept. 30, 2002
Goodwill, net 523.0 556.0
Non-current assets, net 54.0 63.0
Current assets and cash and equivalents 193.0 206.8
Total assets 770.0 825.8
Shareholders’ equity excluding minority interests 142.5 163.3
Minority interests 7.3 9.3
Convertible bonds including accrued interest (1) 142.2 135.6
Long-term debt, net 283.0 309.0
Provisions 27.4 34.9
Current liabilities 167.6 173.7
Total liabilities and shareholders’ equity 770.0 825.8
(1) See Note 22