F2. Jointly owned group companies with significant non-controlling interests
Vinda
Vinda International Holdings Ltd. (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 26,480m (26,768; 20,266) at the end of the period.
Familia
Productos Familia S.A., Colombia (Familia) operates in the South American market and sells Personal Care, Consumer Tissue and Professional Hygiene products. On August 31, 2021, Essity increased its ownership stake in Familia from 50% to 95.8%. Already prior to this transaction, Essity was deemed to have a controlling influence of Familia since Essity had control over the activities with the most significant impact on Familia’s return. For further information about the acquisition of the additional shares, refer to Note F6 Acquisitions and divestments of Group companies and other operations.
Financial information
Financial information is disclosed below for both Group companies. The financial information for Familia includes only the period January to August 2021. 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.
|
Vinda |
|
Familia |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SEKm |
2021 |
2020 |
2019 |
|
2021 |
2020 |
2019 |
||||||
Condensed income statement |
|
|
|
|
|
|
|
||||||
Net sales |
20,584 |
19,521 |
19,355 |
|
4,394 |
6,950 |
7,603 |
||||||
Operating profit before amortization of acquisition-related intangible assets |
2,321 |
2,9732) |
1,889 |
|
7133) |
1,1703) |
1,0423) |
||||||
Operating profit |
2,245 |
2,8932) |
1,882 |
|
7093) |
1,1623) |
1,0323) |
||||||
Profit for the period |
1,801 |
2,223 |
1,364 |
|
538 |
819 |
719 |
||||||
of which attributable to owners of the Parent company |
929 |
1,151 |
709 |
|
269 |
410 |
371 |
||||||
Other comprehensive income for the period |
–119 |
–60 |
62 |
|
–99 |
–803 |
191 |
||||||
of which attributable to owners of the Parent company |
–62 |
–31 |
32 |
|
–51 |
–409 |
86 |
||||||
Comprehensive income for the period |
1,682 |
2,163 |
1,426 |
|
439 |
16 |
910 |
||||||
of which attributable to owners of the Parent company |
867 |
1,120 |
741 |
|
218 |
1 |
457 |
||||||
of which attributable to non-controlling interests |
815 |
1,043 |
685 |
|
221 |
15 |
453 |
||||||
Dividend to non-controlling interests |
298 |
212 |
146 |
|
190 |
187 |
151 |
||||||
|
|
|
|
|
|
|
|
||||||
Condensed balance sheet |
|
|
|
|
|
|
|
||||||
Non-current assets |
23,301 |
19,8882) |
20,556 |
|
|
3,217 |
3,861 |
||||||
Current assets |
9,635 |
8,799 |
7,043 |
|
|
3,466 |
3,616 |
||||||
Total |
32,936 |
28,687 |
27,599 |
|
|
6,683 |
7,477 |
||||||
|
|
|
|
|
|
|
|
||||||
Equity attributable to owners of the Parent company |
11,252 |
9,4172) |
9,110 |
|
|
2,094 |
2,281 |
||||||
Equity attributable to non-controlling interests |
8,336 |
6,8532) |
6,397 |
|
|
2,018 |
2,190 |
||||||
Non-current liabilities |
5,691 |
4,1502) |
5,399 |
|
|
802 |
1,080 |
||||||
Current liabilities |
7,657 |
8,267 |
6,693 |
|
|
1,769 |
1,926 |
||||||
Total |
32,936 |
28,687 |
27,599 |
|
|
6,683 |
7,477 |
||||||
|
|
|
|
|
|
|
|
||||||
Cash flow from operating activities |
2,918 |
2,371 |
3,031 |
|
|
1,274 |
841 |
||||||
Cash flow from investing activities |
–1,940 |
–2,041 |
–1,535 |
|
|
–253 |
–254 |
||||||
Cash flow from financing activities |
–704 |
–37 |
–1,625 |
|
|
–468 |
–460 |
||||||
Cash flow for the period |
274 |
293 |
–129 |
|
|
553 |
126 |
||||||
|
|||||||||||||