Group notes
Note 15 Investments in associated companies
An associated company is an entity in which the Group has significant influence, but not control, over financial and operating policies. When the Group holds 20–50% of the voting power, it is presumed that significant influence exists, unless otherwise demonstrated. Investments in associated companies are reported according to the equity method.
| 2025 | 2024 | |
|---|---|---|
| Opening balance, Jan. 1 | 34 | 49 |
| Impairment | 0 | 0 |
| Profit for the year after income tax | 0 | -20 |
| Translation differences | -5 | 5 |
| Closing balance, Dec. 31 | 29 | 34 |
| 2025 | Country | Assets | Liabilities | Equity | Revenues | Profit for the year | Group’s share, % |
|---|---|---|---|---|---|---|---|
| Shenzhen Nectar Engineering & Equipment Co. Ltd. | China | 174 | 93 | 81 | 98 | 2 | 25 |
| Glass Terra Pty Ltd. | Australia | 0 | 0 | 0 | 0 | 0 | 27 |
| Sirius Consulting Pty Ltd. | South Africa | 3 | 1 | 2 | 1 | -1 | 50 |
| 2024 | Country | Assets | Liabilities | Equity | Revenues | Profit for the year | Group’s share, % |
| Shenhzen Nectar Engineering & Equipment Co. Ltd. | China | 191 | 100 | 91 | 220 | 1 | 25 |
| Glass Terra Pty Ltd. | Australia | 0 | 0 | 0 | 0 | 0 | 27 |
| Sirius Consulting Pty Ltd. | South Africa | 13 | 4 | 9 | 5 | 10 | 50 |
The above table is based on the most recent financial reporting available from associated companies. The Epiroc percentage share of each holding represents both ownership interest and voting rights.