F2. Jointly owned group companies with significant non-controlling interests
Vinda
Vinda is one of China’s largest hygiene companies and listed on the Hong Kong stock exchange. Essity’s holding in Vinda amounts to 52%. Vinda’s market capitalization on the Hong Kong stock exchange was SEK 20,266m (16,868; 19,705) at the end of the period.
Familia
Familia is 50% owned by Essity and the remaining shares are primarily owned by the Gomez family. Essity is deemed to have a controlling influence of Familia since it has control over the activities with the most significant impact on Familia’s return. Familia operates in the South American market and sells Personal Care, Consumer Tissue and Professional Hygiene products.
Financial information
Financial information is disclosed below for both Group companies. Financial information has not been disclosed for other Group companies with significant non-controlling interests since no other individual company had a material impact on the Group’s earnings and financial position.
The income statements and balance sheets as shown below are included in Essity’s consolidated financial statements and consider adjustments for surplus values in connection with acquisitions.
|
Vinda1) |
|
Familia1) |
||||||||||||||
SEKm |
2019 |
2018 |
2017 |
|
2019 |
20184) |
20173) |
||||||||||
|
|||||||||||||||||
Condensed income statement |
|
|
|
|
|
|
|
||||||||||
Net sales |
19,355 |
16,543 |
14,728 |
|
7,603 |
7,047 |
6,286 |
||||||||||
Operating profit before amortization of acquisition-related intangible assets2) |
1,889 |
1,133 |
1,074 |
|
1,042 |
729 |
934 |
||||||||||
Operating profit2) |
1,882 |
1,127 |
1,067 |
|
1,032 |
947 |
934 |
||||||||||
Profit for the period |
1,364 |
720 |
670 |
|
719 |
648 |
649 |
||||||||||
of which attributable to owners of the Parent company |
709 |
374 |
348 |
|
371 |
334 |
316 |
||||||||||
Other comprehensive income for the period5) |
62 |
–13 |
163 |
|
191 |
–39 |
–325 |
||||||||||
of which attributable to owners of the Parent company5) |
32 |
–7 |
85 |
|
86 |
–78 |
–152 |
||||||||||
Comprehensive income for the period5) |
1,426 |
707 |
833 |
|
910 |
609 |
324 |
||||||||||
of which attributable to owners of the Parent company5) |
741 |
367 |
433 |
|
457 |
256 |
164 |
||||||||||
of which attributable to non-controlling interests5) |
685 |
340 |
400 |
|
453 |
353 |
160 |
||||||||||
Dividend to non-controlling interests |
146 |
125 |
107 |
|
151 |
227 |
122 |
||||||||||
|
|
|
|
|
|
|
|
||||||||||
Condensed balance sheet |
|
|
|
|
|
|
|
||||||||||
Non-current assets |
20,556 |
19,834 |
18,324 |
|
3,861 |
3,231 |
2,450 |
||||||||||
Current assets |
7,043 |
6,552 |
6,209 |
|
3,616 |
3,101 |
3,131 |
||||||||||
Total |
27,599 |
26,386 |
24,533 |
|
7,477 |
6,332 |
5,581 |
||||||||||
|
|
|
|
|
|
|
|
||||||||||
Equity attributable to owners of the Parent company |
9,110 |
8,373 |
7,871 |
|
2,281 |
1,975 |
1,946 |
||||||||||
Equity attributable to non-controlling interests |
6,397 |
5,753 |
5,348 |
|
2,190 |
1,888 |
1,762 |
||||||||||
Non-current liabilities |
5,399 |
5,799 |
5,730 |
|
1,080 |
811 |
394 |
||||||||||
Current liabilities |
6,693 |
6,461 |
5,584 |
|
1,926 |
1,658 |
1,479 |
||||||||||
Total |
27,599 |
26,386 |
24,533 |
|
7,477 |
6,332 |
5,581 |
||||||||||
|
|
|
|
|
|
|
|
||||||||||
Cash flow from operating activities |
3,031 |
1,474 |
1,080 |
|
887 |
877 |
969 |
||||||||||
Cash flow from investing activities |
–1,535 |
–1,310 |
–1,401 |
|
–58 |
–714 |
–203 |
||||||||||
Cash flow from financing activities |
–1,625 |
–63 |
–329 |
|
–608 |
–634 |
–435 |
||||||||||
Cash flow for the period |
–129 |
101 |
–650 |
|
221 |
–471 |
331 |