9 – Income from companies accounted for using the equity method

Million €

 

2016

2015

Proportional net income

 

317

275

Thereof joint ventures

 

157

25

associated companies

 

160

250

Other adjustments of income and expense

 

(10)

(24)

Thereof joint ventures

 

(4)

(35)

associated companies

 

(6)

11

Income from companies accounted for using the equity method

 

307

251

Income from companies accounted for using the equity method increased in 2016 primarily due to higher earnings of BASF-YPC Company Ltd., Nanjing, China. Countering this were lower earnings at Lucura Versicherungs AG, Ludwigshafen, Germany, which was largely attributable to building of provisions in connection with the fire at the North Harbor in October 2016.

In 2016, earnings from companies in the Oil and Gas segment which are accounted for using the equity method remained at the prior year level. Nord Stream AG, Zug, Switzerland, OAO Severneftegazprom, Krasnoselkup, Russia, as well as GASCADE Gastransport GmbH, Kassel, Germany, contributed most to these earnings.