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Note 39 Investments in subsidiaries and associates

€ million

Investments in subsidiaries

Investments in associates

Total

Carrying amount as at 1 January 2015

2,256

-

2,256

    

Movements 2015

   

Dividends received

-339

-

-339

Result for the year

225

-

225

Issue of share capital

76

-

76

Movement in revaluation reserve

10

-

10

Other changes

-1

1

-

Total

-29

1

-28

    

Carrying amount as at 31 December 2015

2,227

1

2,228

    

Movements 2016

   

Dividends received

-216

-

-216

Result for the year

84

-

84

Issue of share capital

73

-

73

Movement in revaluation reserve

-8

-

-8

Sale interest Endinet

-307

-

-307

Other changes

1

-

1

Total

-373

-

-373

    

Carrying amount as at 31 December 2016

1,854

1

1,855

Dividends amounting to €216 million (2015: €339 million) were received in 2016 from the subsidiary Liander N.V. and the joint operation Utility Connect B.V. The investment of €73 million in 2016 relates to payment of share capital connected with the subsidiaries of Alliander N.V.

The dividends received from subsidiaries and payments of capital invested in them result from the capital restructuring of these companies in line with Alliander's policy each year.

The various share capital investments are listed separately under the heading ‘Principal subsidiaries, associates and joint arrangements’ at the end of this section.

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