SOMFY - Half-Year Financial Report 2019
2019 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 02
INVESTMENTS IN ASSOCIATES AND JOINT VENTURES, AND RELATED PARTIES NOTE 14 — INVESTMENTS IN ASSOCIATES AND JOINT VENTURES NOTE 14.1
€ thousands
30/06/19
31/12/18
Investments in associates at the beginning of the year
132,781
425
Changes in consolidation scope and method Share of profit/(loss) from associates
—
131,754
1,333
1,429
Dividends paid
—
—
Changes in foreign exchange rates
457
-827
Other
-358
—
INVESTMENTS IN ASSOCIATES AT THE END OF THE PERIOD of which Investments in associates and joint ventures
134,213 134,213
132,781 132,781
“Investments in associates and joint ventures” comprises investments in Dooya and Arve Finance.
Dooya’s performance over the first six months was as follows: € thousands
30/06/19
30/06/18
Income statement Sales
89,164
83,400 -5,626 -5,839
Current operating result
3,416 1,906
Net profit
RELATED PARTIES NOTE 14.2 Associates are companies over which the Group has a significant influence or exercises joint control, and which are consolidated using the equity method. Transactions with related parties are made on arm’s length terms. Group purchases from Dooya totalled €1.8 million over the six months to 30 June 2019, €6.5 million over the 12 months to 31 December 2018 and €4.0 million over the 6 months to 30 June 2018. Group trade payables with Dooya stood at €0.9 million at 30 June 2019,
€1.3 million at 31 December 2018 and €2.0 million at 30 June 2018. Transactions with other related parties involved negligible amounts.
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SOMFY – HALF-YEAR FINANCIAL REPORT 2019
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