APC 2009 Annual Report Download - page 143
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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 141
CONSOLIDATED FINANCIAL STATEMENTS
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note14
Investments in associates
Investments in associates can be analysed as follows:
% interest at Dec. 31 Share net assets at Dec. 31 Share in net profi t at Dec. 31
2009 2008 2009 2008 2009 2008
Delta Dore Finance 20.0% 20.0% 12 11 1 1
Delixi Electric N/A 50.0% 0 182 0 11
Fuji Electric FA Components & Systems 36.8% 37.0% 58 84 (22) -
Others N/A N/A5400
TOTAL - - 75 281 (21) 12
Fair value corresponds to the quoted price on the last trading day
of the period for investments listed on an active market. Net gains
arising from remeasurement at fair value of listed investments,
recorded in equity under “Other Comprehensive Income” totalled
EUR 11million.
The investment in the SEV1 venture capital fund was previously
classifi ed under “Other non-current fi nancial assets”.
15.2 - Other non-current financial assets
The agreement for the acquisition of Clipsal includes a seller’s
warranty providing for part of the acquisition price to be withheld
(see note25).
This amount has been placed in escrow and amounts to
EUR 8million as of December 31, 2009.
15.3 - Current financial assets
Current fi nancial assets, corresponding to short-term investments,
totalled EUR 77million as of December31, 2009.
Note15
Financial assets
15.1 - Available-for-sale financial assets
Available-for-sale fi nancial assets, corresponding mainly to investments in non-consolidated companies, break down as follows:
% interest
Dec. 31, 2009 Dec. 31, 2008
Gross value Revaluation /
Impairment Fair value Fair value
I – Listed available- for- sale fi nancial assets
AXA 0.5% 111 64 175 155
Gold Peak Industries Holding Ltd 6.3% 7 (3) 4 2
Total listed AFS -118 61 179 157
II – Unlisted available- for- sale fi nancial assets
Polam BV (1) N/A---26
FCPR SEV1 100.0% 35 14 49 -
Simak (2) 99.2% 6 (1) 5 5
Easy Plug SAS (3) 50.0% 9 (9) 0 0
SE Venture 100.0% 7 (7) 0 0
Other unlisted AFS (4) - 19 (7) 12 12
Total unlisted AFS -76 (10) 66 43
FINANCIAL ASSETS AVAILABLE FOR SALE -194 51 245 200
(1) Liquidated in 2009.
(2) Removed from the scope of consolidation – in liquidation.
(3) Dormant company.
(4) Valued at less than EUR 5million each.