PC6. Participations

AP Accounting principles

Essity Aktiebolag recognizes all holdings in Group companies at cost after deduction for any accumulated impairment losses.

Participations in Group companies

 

Subsidiaries

SEKm

2017

2016

Accumulated costs

168,883

167,601

Accumulated impairment

–1,269

Carrying amount

167,614

167,601

 

 

 

Value, January 1

167,601

0

Investments

48,882

–167,601

Divestments

–47,600

Impairment for the period

–1,269

BS TPC6:1 Value, December 31

167,614

167,601

The shares in Essity Försäkringsaktiebolag were conveyed at carrying amount as part of the transfer of business that took place on December 30, 2016 from Svenska Cellulosa Aktiebolaget SCA to Essity Aktiebolag but were recognized on December 31, 2016 in Svenska Cellulosa Aktiebolaget SCA’s balance sheet because the holding, from a civil judicial perspective, required the approval of the Swedish Financial Supervisory Authority (Finansinspektionen) for the transfer to occur. During 2017, the Authority granted its approval for the change of ownership and the holding is recognized under capital expenditures in 2017. During the year, a capital contribution amounting to SEK 1,269m was also given to SCA Hedging AB. An impairment was recognized in the same amount. A capital contribution of SEK 47,599m was also made to Essity Group Holding BV. The wholly owned company SCA Research Aktiebolag was merged with its Parent Company Essity Aktiebolag in July 2017. The company has also reduced its holding in Essity Capital NV by SEK 47,598m by reducing its equity and repayment could be made.

TPC6:1 Essity Aktiebolag’s holdings of shares and participations in subsidiaries, December 31, 2017

Company name

Corp. Reg. No.

Domicile

No. of shares

Share of equity, %

Carrying amount, SEKm

Swedish subsidiaries:

 

 

 

 

 

Fastighets- och Bostadsaktiebolaget FOBOF

556047-8520

Stockholm, Sweden

1,000

100

0

Essity Försäkringsaktiebolag

516401-8540

Stockholm, Sweden

140,000

100

14

SCA Hedging AB

556666-8553

Stockholm, Sweden

1,000

100

0

 

 

 

 

 

 

Foreign subsidiaries:

 

 

 

 

 

Essity Group Holding BV

33181970

Amsterdam, Netherlands

246,347

100

143,434

Essity Capital NV

0810.983.346

Diegem, Belgium

2,558,169

100

23,887

Essity Italy S.p.A

3318780966

Capannori, Italy

125,000

25

279

Total carrying amount of subsidiaries

 

 

 

 

167,614

German subsidiaries that are subject to disclosure exemptions. The following German companies are fully consolidated and subject to disclosure exemptions pursuant to Sec. 264 para. 3 of the German Commercial Code (“HGB”).

  1. Essity GmbH, domicile in Mannheim, Germany
  2. Essity Holding GmbH, domicile in Ismaning, Germany
  3. Essity Operations Neuss GmbH, domicile in Neuss, Germany
  4. Essity Operations Mannheim GmbH, domicile in Mannheim, Germany
  5. Essity Operations Mainz-Kostheim GmbH, domicile in Wiesbaden, Germany
  6. Essity Professional Hygiene Germany GmbH, domicile in Mannheim, Germany
  7. Essity Germany GmbH, domicile in Mannheim, Germany
  8. Essity Operations Witzenhausen GmbH, domicile in Witzenhausen, Germany
  9. Essity Hygiene Holding GmbH, domicile in Mannheim, Germany