Investments in associates(1)

In € million

 

2016

 

2015

(1)

See note F39.

Carrying amount at January 1

 

41

 

30

Acquisition/Disposal

 

(1)

 

 

Increase through business combination

 

 

 

11

Profit (loss) for the year from associates

 

2

 

2

Dividends received from associates

 

(2)

 

(3)

Impairment (loss)/reversal

 

(11)

 

 

Currency translation differences

 

(1)

 

1

Transfer to assets held for sale

 

(5)

 

 

Other

 

2

 

0

Carrying amount at December 31

 

24

 

41

The impairment loss of € (11) million relates to the US torrefied biomass electricity generation project following the decision to exit the project.

Investments in joint ventures(1)

In € million

 

2016

 

2015

(1)

See note F39.

Carrying amount at January 1

 

357

 

350

Acquisition/Disposal

 

(2)

 

 

Capital increase/decrease

 

3

 

13

Profit (loss) for the year from joint ventures

 

83

 

1

Dividends received from joint ventures

 

(20)

 

(11)

Impairment (loss)/reversal of RusVinyl

 

 

 

19

Transfer from other investments

 

1

 

9

Currency translation differences

 

53

 

(20)

Other

 

(2)

 

(3)

Carrying amount at December 31

 

473

 

357

In 2016, the profit (loss) for the year from joint ventures relates mainly to RusVinyl (€ 49 million) and Peroxidos do Brazil (€ 19 million). The currency translation difference relates mainly to the appreciation of the Russian ruble and the Brazilian real against the euro.

In 2015, the capital increase in joint ventures related mainly to the investment in RusVinyl. The currency translation difference in joint ventures related mainly to the depreciation of the Russian ruble and the Brazilian real against the euro.