9 – Income from companies accounted for using the equity method
Million € |
|
2015 |
2014 |
|---|---|---|---|
Proportional net income |
|
275 |
283 |
Thereof joint ventures |
|
25 |
87 |
associated companies |
|
250 |
196 |
Other adjustments of income and expense |
|
(24) |
(10) |
Thereof joint ventures |
|
(35) |
(19) |
associated companies |
|
11 |
9 |
Income from companies accounted for using the equity method |
|
251 |
273 |
The Oil & Gas segment contributed €106 million to income from companies accounted for using the equity method. Especially contributing to this total were OAO Severneftegazprom, Krasnoselkup, Russia; Nord Stream AG, Zug, Switzerland; and GASCADE Gastransport GmbH, Kassel, Germany. Further significant earnings contributions were made by shareholdings in BASF-YPC Company Ltd., Nanjing, China; Lucura Versicherungs AG, Ludwigshafen am Rhein, Germany; and BASF SONATRACH Propanchem S.A., Tarragona, Spain.
The decline in income from companies accounted for using the equity method was predominantly the result of an impairment at Wintershall Noordzee B.V., Rijswijk, Netherlands. The reduction was partly alleviated by higher earnings contributions from other shareholdings, particularly OAO Severneftegazprom, Krasnoselkup, Russia, and BASF-YPC Company Ltd., Nanjing, China.