Set out below are the joint ventures and associates of the Group, consolidated by the equity method:
Company |
|
Business area |
|
Head office |
|
% Owned |
|---|---|---|---|---|---|---|
Andfjord Salmon Group, AS |
|
Business portfolio management |
|
Andoya (Norway) |
|
28.04 |
Andfjord Salmon, AS |
|
Sustainable salmon production |
|
Andoya (Norway) |
|
28.04 |
Finançor Distribuição Alimentar, Lda. |
|
Retail sale in supermarkets |
|
Ponta Delgada |
|
20.00 |
Finançor Cash & Carry, Lda. |
|
Wholesale of food and consumer goods |
|
Ponta Delgada |
|
20.00 |
Marismar – Aquicultura Marinha, Lda. |
|
Saline brackish waters aquaculture |
|
Funchal |
|
50.00 |
Tastyfruits, Lda. |
|
Farming of crops |
|
Lisboa |
|
50.00 |
As mentioned in note 11, during 2024, the Group acquired an additional 4.6 million shares in the company Andfjord Salmon Group, AS, holding a total stake of 28.04%.
The financial statements of joint ventures and associates integrated into the consolidated by the equivalence method, present the following values, which were adjusted for the accounting policies adopted by the Group:
|
|
Joint Ventures |
|
Associates |
||||
|---|---|---|---|---|---|---|---|---|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Non-current assets |
|
18 |
|
32 |
|
215 |
|
95 |
Current assets |
|
5 |
|
11 |
|
35 |
|
64 |
Non-current liabilities |
|
(16) |
|
(16) |
|
(52) |
|
(6) |
Current liabilities |
|
(2) |
|
(9) |
|
(56) |
|
(37) |
Net assets |
|
5 |
|
19 |
|
142 |
|
115 |
Sales and services rendered |
|
6 |
|
6 |
|
117 |
|
97 |
Net result |
|
(1) |
|
(2) |
|
(2) |
|
(1) |
Other comprehensive income |
|
– |
|
– |
|
– |
|
– |
Total comprehensive income |
|
(1) |
|
(2) |
|
(2) |
|
(1) |
The table below presents the reconciliation of the financial position of the joint ventures and associated companies with the value presented in Jerónimo Martins’ financial statements:
|
|
Joint Ventures |
|
Associates |
||||
|---|---|---|---|---|---|---|---|---|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Net assets as at 1 January |
|
19 |
|
3 |
|
115 |
|
20 |
Net result |
|
(1) |
|
(2) |
|
(2) |
|
(1) |
Dividends |
|
– |
|
– |
|
(1) |
|
(1) |
Other Increases/(reductions) |
|
(12) |
|
17 |
|
34 |
|
97 |
Other comprehensive income |
|
– |
|
– |
|
(4) |
|
– |
Net assets as at 31 December |
|
5 |
|
19 |
|
142 |
|
115 |
Interest in Joint ventures and associates (%) |
|
50% |
|
50% |
|
20 – 28% |
|
20 – 25% |
|
|
2 |
|
9 |
|
37 |
|
28 |
Loans |
|
15 |
|
14 |
|
– |
|
– |
Goodwill |
|
– |
|
– |
|
30 |
|
29 |
Carrying value (note 11) |
|
17 |
|
23 |
|
67 |
|
57 |