15.3 Subsidiaries with significant percentage of non-controlling interests
On 31 December 2017, the non-controlling interest of the Group is €62,459 thousand (31.12.2016: €76,465 thousand), of which €35,726 thousand (31.12.2016: €43,345 thousand) is for Alexandria Development Co Ltd and its subsidiaries and €27,209 thousand (31.12.2016: €26,928 thousand) is attributed to Titan Cement Cyprus Limited and its subsidiaries. The remaining non-controlling interest is not material.
The following table summarizes the financial information of subsidiaries, in which the non-controlling interests held significant portion (note 14).
| (all amounts in Euro thousands) |
Alexandria Development Co.Ltd -Consolidated * |
Titan Cement Cyprus Limited - Consolidated * |
| |
2017 |
2016 |
2017 |
2016 |
| Summarized statement of financial position on 31 December |
|
| Non-current assets |
389,588 |
414,064 |
115,107 |
115,140 |
| Current assets |
63,313 |
73,474 |
66,416 |
63,528 |
| Total assets |
452,901 |
487,538 |
181,523 |
178,668 |
| Non-current liabilities |
158,344 |
148,293 |
4,140 |
4,029 |
| Current liabilities |
88,000 |
94,333 |
16,650 |
16,923 |
| Total liabilities |
246,344 |
242,626 |
20,790 |
20,952 |
| Equity |
206,557 |
244,912 |
160,733 |
157,716 |
| Attributable to: |
|
| Equity holders of the parent |
170,831 |
201,567 |
133,524 |
130,788 |
| Non-controlling interests |
35,726 |
43,345 |
27,209 |
26,928 |
| Summarized income statement and statement of comprehensive income for the year ended 31 December |
|
| Turnover |
142,564
|
244,341
|
141,745
|
134,101
|
| (Loss)/profit after taxes |
-18,569 |
-21,018 |
31,393 |
26,105 |
| Other comprehensive (losses)/income for the year |
-25,902 |
-252,395 |
1,302 |
-374 |
| Total comprehensive (losses)/income for the year net of tax |
-44,471 |
-273,413 |
32,695 |
25,731 |
| Total comprehensive (losses)/income attributable to non-controlling interests |
-7,668 |
-48,660 |
4,182 |
4,069 |
| Dividends distributed to non-controlling interest |
- |
644 |
3,867 |
3,856 |
| Summarized cash flow information for the year ended 31 December |
|
| Cash flows from operating activities |
9,131 |
45,539 |
35,961 |
39,270 |
| Cash flows from investing activities |
-16,635 |
-29,579 |
-9,395 |
-9,087 |
| Cash flows from financing activities |
11,974 |
-9,330 |
-25,543 |
-28,889 |
| Net increase in cash and cash equivalents |
4,470 |
6,630 |
1,023 |
1,294 |
| Cash and cash equivalents at beginning of the year |
11,046 |
17,796 |
30,821 |
29,555 |
| Effects of exchange rate changes |
-1,455 |
-13,380 |
97 |
-28 |
| Cash and cash equivalents at end of the year |
14,061 |
11,046 |
31,941 |
30,821 |
* Consolidated figures before elimination with the broader Group