Saint-Gobain // Universal Registration Document 2021

Financial and accounting information 2021 Consolidated Financial Statements

Investments in equity-accounted companies NOTE 8 and other non-current assets

A joint venture is a joint arrangement whereby the parties over which a partner has significant influence over the have joint control of the arrangement, and decisions about power to participate in decisions, but not control.

the relevant activities require the unanimous consent of the parties sharing control. The parties that have joint control of the arrangement have rights to the net assets of the arrangement. By contrast, an associate is an entity

Under IAS 28, investments in both associates and joint ventures must be recognized using the same equity-accounting consolidation method.

Changes in investments in equity-accounted companies 8.1 Changes in investments in equity-accounted companies in 2021 and 2020 can be analyzed as follows:

2021

2020

(in EUR millions) At January 1 Group share in: Associates

185

182 236 418

Joint ventures

246 431

TOTAL

Goodwill

31

19

INVESTMENTS IN EQUITY-ACCOUNTED COMPANIES

462

437

Changes during the year Group share in net income of associates Group share in net income of joint ventures

31

11 4

25

Dividends paid

(33)

(14) (33)

Translation adjustments and restatement for hyperinflation

27

Acquisitions and capital increases

4

55

Changes in Group structure, transfers and other variations

20 74

2

TOTAL CHANGES At December 31 Group share in: Associates

25

221

185

Joint ventures

283 504

246 431

TOTAL

Goodwill

32

31

INVESTMENTS IN EQUITY-ACCOUNTED COMPANIES

536

462

Investments in non-core business equity-accounted companies represented €62 million at December 31, 2021 (€57 million at end-2020).

The principal financial aggregates of equity-accounted companies are as follows:

8

2021

2020

Joint ventures

Joint ventures

Associates

Total 1,963

Associates

Total 1,446

(in EUR millions)

Sales

1,182 107 536 785 959 362 754

781 50 514 285 673 126 597

813

633

Net income

157

52

8

60

Non-current assets

1,050 1,070 1,632

469 526

430 262 596

899 788

Current assets

Non-current liabilities

811

1,407

Current liabilities

488 1,351

184 607

96

280 1,127

Shareholders’ equity

520

SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 313