17 Investments in associates and joint ventures
|
CHF thousand |
2021 |
2020 |
|
|
|
|
|
Investments in associates and joint ventures |
3,144 |
6,432 |
|
EL.IT.E. S.p.A. |
- |
3,591 |
|
esolva ag |
2,568 |
2,363 |
|
Terra di Conte S.r.l. |
426 |
324 |
|
Grischelectra AG |
26 |
27 |
|
Kraftwerk Morteratsch AG |
124 |
127 |
|
|
|
|
|
|
|
|
|
Carrying amounts at 1 January |
6,432 |
6,450 |
|
Investments |
- |
428 |
|
Disposals |
–2,087 |
- |
|
Dividends |
–1,751 |
–426 |
|
Effect of currency translation |
–23 |
–19 |
|
Share of earnings |
573 |
–1 |
|
Carrying amounts at 31 December |
3,144 |
6,432 |
|
|
|
|
|
|
|
|
|
Decrease in loans receivable |
|
|
|
01.01.2022 |
–1,833 |
–6,713 |
|
Share of earnings |
–1,238 |
4,799 |
|
Impairments |
–2,833 |
- |
|
Disposal Aerochetto S.r.l. |
1,270 |
- |
|
Effect of currency translation |
–15 |
81 |
|
31 December |
–4,649 |
–1,833 |
The disposals of carrying amounts of CHF 2,087 thousand relates to the investment in the associate EL.IT.E. S.p.A., which was sold in the second half of 2021 after the distribution of a dividend of CHF 1,494 thousand (see the section Disposal of associates). This resulted in a gain on disposal of CHF 955 thousand (see Note 4).
Losses in excess of the carrying value of the investments from measurement according to the share of equity are netted with the loans that also exist (see Note 18) as a component of the net investment, and are presented in the table above.
Under decrease in loans receivable in 2021 there were further decreases and losses in the course of equity valuation.
The investment in Aerochetto S.r.l. and the existing loan, which was part of the net investment in the company, were disposed of in 2021 (see the section Disposal of associates»). This resulted in a gain on disposal of CHF 875 thousand (see Note 4).