Note 15. Investments in associated companies

Group shares in associated companies

2018

2019

Accumulated share of equity

 

 

At the beginning of the year

269

100

Acquisition of associates

190

Divestment of associates

–214

Share of profits for the year

46

9

Less dividend received

–1

–1

Translation differences during the year

–0

–5

Carrying amount at the end of year

100

292

Parent Company’s shares in associated companies

2018

2019

Accumulated cost

 

 

At the beginning of the year

0

0

Carrying amount at the end of year

0

0

Summarized financial information of associated companies, and the Group’s share

2019

Country

Revenue

Profit

Assets

Liabilities

Equity

Group’s share, %

Owned directly by Sandvik AB

Owned indirectly by Sandvik AB

 

 

 

 

 

 

 

Eimco Elecon

India

259

31

461

50

410

25.1

Fagersta Seco AB

Sweden

3

2

1

50.0

Fagerstahälsan AB

Sweden

8

–0

8

6

2

50.0

Beam IT Spa (acquired in July 2019 )

Italy

16

2

361

89

272

30.0

STC Rental Co. Ltd. (acquired in July 2019 )

Japan

2

–0

1

0

1

14.5

3C Metrologic

Mexico

13

0

10

7

3

40.0

Shanghai Innovatools Co. Ltd.

China

5

–1

11

2

8

40.0

 

 

 

 

 

 

 

 

2018

Country

Revenue

Profit

Assets

Liabilities

Equity

Group’s share, %

Owned directly by Sandvik AB

Owned indirectly by Sandvik AB

 

 

 

 

 

 

 

Eimco Elecon

India

188

20

431

56

375

25.1

Fagersta Stainless AB (sold in June 2018 )

Sweden

1,054

69

Fagersta Seco AB

Sweden

3

2

1

50.0

Fagerstahälsan AB

Sweden

7

9

6

2

50.0

3C Metrologic (acquired in July 2018 )

Mexico

40.0

Shanghai Innovatools Co. Ltd.

China

6

0

12

3

9

40.0

Additional information

The close of the reporting period for the associate Eimco Elecon is 31 March 2019. The dividend paid in 2019 is included in the calculation of the proportion of equity. No financial statements as of a later date have been obtained. Other associates are recognized one month in arrears with an exception for STC Rental Co. Ltd. that is recognized with a quarter in arrears. The associated companies Beam IT Spa and STC Rental Co. Ltd. were acquired in 2019.