2014 Registration Document and Annual Financial Report - page 207

5
Financial Statemements
Consolidated Financial Statements and Notes
The decrease in interest paid during the year mainly reflected:
ƒƒ
the repayment of 2009 bonds at maturity, in 2013 and 2014, representing an interest saving of €37 million; and
ƒƒ
€20 million in interest paid on the €750 million worth of bonds issued in 2014.
(2) Other financial income and expenses include the following items:
(inmillions of euros)
2013 Adjusted
2014
Dividend income from non-consolidated companies (Available-for-sale financial assets)
7
3
Exchange gains and losses (excl. financial instruments at fair value)
(6)
5*
Movements in provisions
(8)
(2)
TOTAL OTHER FINANCIAL INCOME AND EXPENSES
(7)
6
* In 2014, the net positive impact on foreign exchange gains and losses is mainly due to the remeasurement at the year-end exchange rate of receivables denominated in
Egyptian pounds and Brazilian reals.
NOTE 12
SHARE OF PROFIT (LOSS) OF ASSOCIATES AFTERTAX
(inmillions of euros)
2013 Adjusted
2014
Share of profit of associates before tax
17
33
Share of tax of associates
(6)
(5)
SHARE OF PROFIT OF ASSOCIATES AFTERTAX
11
28
The main contributions are as follows:
(inmillions of euros)
2013 Adjusted
2014
Asia Pacific Hotels
(3)
(0)
The Grand Real Estate (Sofitel The Grand, Hotels Netherlands)
(2)
(0)
Sofitel Hotels US (25%)
(1)
6
15
Société d’Exploitation des Résidences Hôtelières Rail
4
4
Other (including Risma and Mama Shelter)
1
3
Associates
6
22
Reef Casinos
3
3
Adagio
1
2
Société Immobilière d’Exploitation Hôtelière Algérienne
1
2
Other
-
(1)
Joint ventures
5
6
SHARE OF PROFIT OF ASSOCIATES AFTERTAX
11
28
(1) In 2013, profits from the Sofitel US Hotels Strategic Axis was boosted by the €6 million gain on the sale of Minneapolis Sofitel.
In 2014, profits from the Sofitel US Hotels segment were boosted by the €17 million special dividend received in connection with the sale of the NewYork Sofitel.
Registration Document 2014
205
1...,197,198,199,200,201,202,203,204,205,206 208,209,210,211,212,213,214,215,216,217,...332
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