3. Gains (losses) on disposals and impairments of investments, net

Details are as follows:

 9 months to September 30QIII
€ million 2014   2013   Change 2014 2013 Change
Sales:                
 - Alpitour (10.4) (a) (3.0) (b) (7.4) 0.0 (0.5) 0.5
 - SGS 0.0   1,534.0 (c) (1,534.0) 0.0 0.0 0.0
 - Other 5.4   (0.5)   5.9 0.0 (1.0) 1.0
Impairments:                
 - Sequana (26.9) (d) 0.0   (26.9) 0.0 0.0 0.0
Total (31.9)   1,530.5   (1,562.4) 0.0 (1.5) 1.5
(a) Of which €5.4 million relates to the reduction of the Deferred Price and €5 million relates to the reclassification to the income statement of the fair value reserve previously recognized in equity. (b) Reduction of the Deferred Price on the sale of Alpitour relating to certain disputes that arose with the buyer. (c) Determined by recording the balance of the fair value reserve relating to SGS in the income statement at the date of finalizing the sale (€1,575.2 million), net of the negative difference of €41.2 million between the fair value of the investment determined at the same date on the basis of its trading price (€2,044.9 million) and the sales price agreed between the parties (€2,003.7 million, net of expenses on the sale of €0.1 million). (d) Following the prolonged and continuing decline in the share price, an impairment charge was recorded on the investment through the reclassification to the income statement of the fair value reserve at June 30, 2014 previously recognized in equity (of which €19.8 million at December 31, 2013 and €7.1 million for the alignment to the trading price at June 30, 2014).

 

Commercial Register No.64236277 Legal notes | Credits