17 Investments in associates and joint ventures
Part of the net investments in associates Swisscom Energy Solutions AG and Aerochetto S.r.l. are loans extended to these entities recognised under financial assets. Losses of TCHF 15,530 in excess of the carrying value of the investments (prior year: TCHF 11,926) were netted with the loans (Note 18).
Prior-year disposals amounting to TCHF 3,779 related to the sale of the interest in Rhiienergie AG. This resulted in income of TCHF 98, which is recognised under other financial income (Note 13). The transaction resulted in a cash inflow of CHF 3,877.
In 2016, together with Reichmuth Infrastruktur Schweiz KGK, Repower established the joint venture company Kraftwerk Morteratsch AG. The establishment of the company in cash entailed investment of TCHF 100 on Repower’s part.