|
|
Joint ventures |
|
Associates |
|
Total |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Opening balance |
|
10 |
|
8 |
|
6 |
|
4 |
|
16 |
|
13 |
Application of the equity method: |
|
|
|
|
|
|
|
|
|
|
|
|
Net results |
|
‐ |
|
‐ |
|
‐ |
|
‐ |
|
(1) |
|
‐ |
Dividends and other income received |
|
(1) |
|
‐ |
|
‐ |
|
‐ |
|
(1) |
|
‐ |
Other Increases/(reductions) |
|
14 |
|
3 |
|
34 |
|
1 |
|
48 |
|
4 |
Transfers from Other investments |
|
‐ |
|
‐ |
|
17 |
|
‐ |
|
17 |
|
‐ |
Closing balance |
|
23 |
|
10 |
|
57 |
|
6 |
|
80 |
|
16 |
On 29 May 2023, Jerónimo Martins – Agro-Alimentar, S.A. (JMA) signed a “Partnership Agreement” (Agreement) with the Luís Vicente Group. This Agreement sets the incorporation of a company under joint control for the production of certain fruit varieties. The Agreement was concluded on July 5, 2023, with JMA’s entering the capital of the company – Supreme Fruits, Lda., through a capital increase of €7 million.
On 26 June 2023, JMA entered into a Private Placement of Shares (Private Placement) with Andfjord Salmon AS, a Company in which the Group held 10.5% of the share capital. Under this Private Placement, JMA acquired an additional amount of 10 million shares of this company on 11 July 2023, in the amount of NOK (Norwegian crowns) 385 million (equivalent to €33 million), becoming the holder of a total 25.1% of the share capital. This interest in Andfjord is now measured in the consolidated financial statements in accordance with the equity method (previously it was measured at fair value through other comprehensive income and included in the Balance sheet in the line Other financial investments), having been ascertain a Goodwill in the amount of NOK 308 million (equivalent to €27 million).
In the specific case of the investment in Andfjord, considering that at the date of these consolidated financial statements the financial information related to December 2023 had not yet been published, it was used the most recent published information, related to the previous quarter (September 2023).