8. Other non-current financial assets – Investments measured at fair value

Details are as follows:

  06/30/2012 12/31/2012  
€ million %   Carryng amount %   Carryng amount Change
SGS S.A.  15.00   1,731.3 15.00   1,501.0 230.3
Gruppo Banca Leonardo S.p.A. 17.40   78.8 17.40   105.2 (26.4)
Sequana S.A. Group 18.74   48.1 -   - 48.1
Banijay Holding S.A.S. 17.09   40.1 17.09   40.1 0.0
The Economist Newspaper Ltd 4.72   31.9 4.72   31.9 0.0
NoCo A L.P. 2.00 (a) 17.0 2.00 (a) 16.7 0.3
Seagull S.p.A. 9.94   10.0 -   - 10.0
Other -   38.5 -   39.7 (1.2)
Total     1,995.7     1,734.6 261.1
(a) Percentage stake in the limited partnership, measured at cost.

The increase in the investment in SGS, equal to €230.3 million, is attributable to the fair value adjustment at June 29, 2012. The trading price per SGS share at June 29, 2012 was CHF 1,775, equal to €1,475.48 at the period-end exchange rate of 1.2030. The original carrying amount of the investment in SGS was €469.7 million; at June 30, 2012 the net positive fair value adjustment recognized in equity amounts to €1,261.6 million.

The decrease in the investment in Gruppo Banca Leonardo is determined by the reimbursement of capital accounted for as a reduction of the carrying amount of the investment.

The fair value adjustment of the investment in Sequana is calculated by reference to the per share trading price on June 29, 2012, equal to €1.71 per share, with recognition of the same amount in the income statement, in compliance with IAS 28, regarding the first-time application of fair value measurement.

 

Commercial Register No.64236277 Legal notes | Credits