IFRS 12 paras 12, B10, material non-controlling interests disclosures

TUI AG – Annual report – 30 September 2017 

Industry: leisure

(28) Non-controlling interest

Non-controlling interests mainly relate to RIUSA II S.A. based in Palma de Mallorca, Spain. TUI’s capital share in this hotel operator stands at 50.0 %, as in the prior year.

The financial year of RIUSA II S.A. ends on 31 December and thus deviates from TUI Group’s financial year. This reporting date was fixed when the company was founded. In order to include the RIUSA II Group in TUI Group’s consolidated financial statements as at 30 September, the RIUSA II Group prepares sub-group financial statements as at 30 September, the balance sheet date.

RIUSA II Group, allocated to the Hotels & Resorts segment, operates owned and leased hotels and hotels operated under management contracts in tourism destinations of TUI Group. Due to the contractual agreements between the shareholders and the framework agreements with TUIGroup as well as the considerable importance of tour operation for the economic success of RIUSA II Group, TUI Group is able to exercise a controlling influence on decisions about the most relevant activities and consequently the amount of returns. TUI Group is subject to variable returns from RIUSA II Group, in particular due to dividend payments and fluctuations in the value of the stake itself. RIUSA II Group is therefore fully consolidated although TUI Group only holds a 50 % equity stake.

The table below provides summarised financial information on RIUSA II S.A., Palma de Mallorca, Spain – the subsidiary for which material non-controlling interests exist. It presents the consolidated financial statements of the sub-group.

Summarised financial information on RIUSA II S.A., Palma de Mallorca, Spain*
EUR million

30 Sep 2017 /  2017

30 Sep 2016 / 2016

Current assets

272.7

336.3

Non-current assets

1,400.8

1,296.5

Current liabilities

110.1

113.9

Non-current liabilities

29.3

22.1

Revenues

852.5

796.1

Profit / loss

231.0

221.4

Other comprehensive income

– 19.8

– 42.4

Cash inflow / outflow from operating activities

251.7

292.4

Cash inflow / outflow from investing activities

– 147.5

– 166.8

Cash inflow / outflow from financing activities

– 181.7

– 85.6

Accumulated non-controlling interest

591.2

572.6

Profit / loss attributable to non-controlling interest

115.5

110.7

Dividends attributable to non-controlling interest

87.0

11.0

  • Consolidated Subgroup
   
 

 

 

                                                  

 

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