(5) Investments in associated companies and joint ventures

N63 INVESTMENTS IN ASSOCIATED COMPANIES AND JOINT VENTURES
  FIGURES IN EUR MILLION
    2013 2012
  Book value as at 31.12 of the previous year 237 209
  Change in scope of consolidation 25
  Additions 2 31
  Disposals 22
  Depreciation 1 1
  Adjustment recognised in income 8 –9
  Adjustment recognised directly in equity 2 4
  Exchange rate fluctuations –1
  Book value as at 31.12 of the financial year 247 237
   

This balance sheet item covers the investments in associated companies and joint ventures that are valued using the equity method on the basis of the share of equity attributable to the Group. In the financial year, shares of losses totalling 0.5 (—) were not recognised.

The goodwill of all companies valued using the equity method amounted to EUR 77 (83) million as at year-end. Of the associated companies, Petro Vietnam Insurance Holdings, Hanoi, Vietnam (PVI), and C-QUADRAT Investment AG, Vienna, Austria (C-QUADRAT), are publicly traded. The market value of our interests was EUR 77 (67) million as at the balance sheet date. Of this, EUR 47 (41) million was attributable to PVI and EUR 30 (26) million to C-QUADRAT.

For all associated companies, we recognised assets of EUR 2.6 (2.3) billion, debts of EUR 2.1 (1.8) billion, net income of EUR 39 (21) million and revenues of EUR 506 (521) million.

Joint ventures: Current and non-current assets amounted to EUR 3 (1) million and to EUR 47 (34) million as at the balance sheet date. Current and non-current debts amounted to EUR 12 (3) million and to EUR 17 (3) as at the balance sheet date. Income and expenses attributable to the Group amounted to –EUR 3 (–0.2) million. There are no contingent liabilities or other capital obligations.

For further information on our associated companies, cf. the list of shareholdings.