08 Investments in Joint Ventures and Associates / Financial Assets

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€ million

 

Investment
in associates
accounted
for using
the equity
method

 

Investments

 

Other
financial
assets

 

Financial
assets

 

 

 

 

 

 

 

 

 

Acquisition cost

 

 

 

 

 

 

 

 

Balance as of Jan. 1, 2010

 

140.2

 

12.4

 

64.6

 

77.0

Additions

 

0.8

 

0.6

 

11.7

 

12.3

Disposals

 

-6.9

 

-0.2

 

-0.3

 

-0.5

Other changes

 

 

 

2.8

 

2.8

Changes resulting from application of equity method

 

-43.0

 

 

 

Exchange-rate differences

 

20.6

 

0.4

 

11.5

 

11.9

Balance as of Dec. 31, 2010

 

111.7

 

13.2

 

90.3

 

103.5

 

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

 

Balance as of Jan. 1, 2010

 

 

1.9

 

 

1.9

Disposals

 

 

-0.2

 

 

-0.2

Exchange-rate differences

 

 

0.4

 

 

0.4

Balance as of Dec. 31, 2010

 

 

2.1

 

 

2.1

 

 

 

 

 

 

 

 

 

Carrying amounts as of Dec. 31, 2010

 

111.7

 

11.1

 

90.3

 

101.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition cost

 

 

 

 

 

 

 

 

Balance as of Jan. 1, 2011

 

111.7

 

13.2

 

90.3

 

103.5

Additions

 

18.4

 

 

34.9

 

34.9

Disposals

 

 

-0.2

 

-1.4

 

-1.6

Other changes

 

 

 

3.7

 

3.7

Changes resulting from application of equity method

 

-10.2

 

 

 

Exchange-rate differences

 

4.6

 

0.1

 

2.6

 

2.7

Balance as of Dec. 31, 2011

 

124.5

 

13.1

 

130.1

 

143.2

 

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

 

 

 

 

Balance as of Jan. 1, 2011

 

 

2.1

 

 

2.1

Exchange-rate differences

 

 

0.1

 

 

0.1

Balance as of Dec. 31, 2011

 

 

2.2

 

 

2.2

 

 

 

 

 

 

 

 

 

Carrying amounts as of Dec. 31, 2011

 

124.5

 

10.9

 

130.1

 

141.0

In 2011, further shareholder loans of €34.9 million (2010: €11.7 million) were issued to Siltronic Samsung Wafer Pte. Ltd., Singapore. These were granted on normal market terms. The addition was shown under other financial assets. Over and above the interest and repayment agreements, the loan agreements grant WACKER the right – as it already the case with existing agreements – to convert the loan into equity (call option). The call options have differing exercise periods of until, at the longest, March 31, 2016.

Investments in joint ventures and associates accounted for using the equity method increased in 2011 following the contribution of capital into the associated company Dow Corning (ZJG) Holding Co. Private Ltd., Singapore, in the amount of €18.4 million.

Further financial information on associated companies and joint ventures is contained in Note 23.