Boskalis_Annual Report_2017

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On 31 December 2017 our share in the negative equity of SAAone Holding B.V. amounted to EUR 7.6 million (31 December 2016: EUR 11.5 million) following the recognition of the negative fair value of an interest rate swap. On 31 December 2016 the share of the Group in this negative equity was not accounted for by the Group because the Group is not severally liable and the loan was not provided yet.

The table below shows the share of the Group in total assets and revenues of its joint ventures and associated companies that are individually not material to the Group.

2017

JOINT VENTURES

ASSOCIATED COMPANIES

TOTAL

1,174,606

206,333

1,380,939

Total assets

355,714

43,558

399,272

Revenue

2016

JOINT VENTURES

ASSOCIATED COMPANIES

TOTAL

Total assets

1,317,367

243,659

1,561,026

Revenue

326,617

44,370

370,987

18. NON-CURRENT FINANCIAL ASSETS OTHER NON-CURRENT RECEIVABLES 18.1

2017

2016

1,061

Balance as at 1 January

5,915

201 - 13

Loan granted (to joint venture) / Acquired through business combinations

260 - 23

Repayment of loan (by joint venture)

- -

Reclassified to disposal group

- 100

Currency translation differences and other movements

- 4,991 1,061

1,249

Balance as at 31 December

Other non-current receivables generally comprise loans to joint ventures and associated companies, long- term advance payments to suppliers and long-term receivables and retentions from customers, which are due in agreed time schedules. This item also includes accrued receivables which are allocated to the result over periods longer than one year.

FINANCIAL INSTRUMENTS AVAILABLE-FOR-SALE 18.2 The development of financial instruments available-for-sale is as follows:

2017

2016

115,379

-

Balance as at 1 January

-

Reclassification from associated companies

115,022

- 357

Change in fair value since significant influence was lost

357

- 115,022

Divestment (gross proceeds) Balance as at 31 December

-

-

115,379

As at 1 January 2017 financial instruments available-for-sale consisted of the 9.4% investment in Fugro N.V. In February 2017 the Group sold its remaining investment in Fugro N.V. through an accelerated book-build at EUR 14.50 per share. The net proceeds amounted to EUR 114.1 million. In December 2016, when significant influence was lost, the fair value of the certificates when classified as financial instruments available-for-sale equaled the quoted price at which certificates were sold, EUR 14.50 (fair value hierarchy: level 1). At year-end 2016 the certificates of shares were valued at EUR 14.55 per certificate.

ANNUAL REPORT 2017 – BOSKALIS A L REP RT 2017 -- BOSKALIS