16 Investments in Associates

In CHF million  
Notes  2010 2009
Balance as at 1 January
  71 437
Additions
  2
Reduction due to loss of significant influence
  –373
Classification as assets held for sale and other disposals
  –2 0
Share of results
  6 7
Share of amounts recognised directly in equity
27  0
Impairment losses
  –1
Dividends paid
  –3 –5
Foreign currency translation differences
  –9 4
Balance as at end of period
  63 71


Goodwill relating to investments in associates is included in the carrying amount of investments in associates in accordance with IAS 28 (revised) Investment in Associates.

Investments in associates: summarised financial information
Amounts in CHF million  
 
Assets

Liabilities

Net assets
Share of
net assets

Revenues

Results
Share of
results
Direct
share
 
2010
 
Crédit et services financiers (CRESERFI), Paris
  239 110 129 43 56 9 3 33.4%
Technopark Immobilien, Zürich
  102 57 45 15 14 3 1 33.3%
LGT Swiss Life Non Traditional Advisers, Vaduz
  7 1 6 3 6 4 2 43.7%
Parking de Bellefontaine, Lausanne
  6 5 1 0 2 0 0 38.3%
Other
  17 13 4 2 32 0 0 n/a
Total
  371 186 185 63 110 16 6 n/a


2009
 
Crédit et services financiers (CRESERFI), Paris
  313 169 144 48 65 13 4 33.4%
Technopark Immobilien, Zürich
  101 57 44 15 14 3 1 33.3%
LGT Swiss Life Non Traditional Advisers, Vaduz
  9 3 6 3 7 5 2 43.7%
Parking de Bellefontaine, Lausanne
  6 5 1 0 2 0 0 38.3%
Other
  24 13 11 5 12 –2 –1 n/a
Total
  453 247 206 71 100 19 6 n/a


In May 2009, Aviga AG, Zurich, was founded.

In April 2009, 8.4% of the share in MLP, Wiesloch, was sold. The investment in MLP was thus reclassified to financial assets available for sale.

 
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