Annual Report 2017

18. Associates and Joint Ventures

in thousands of EUR

31 December 2017

31 December 2016

Visilab S.A.

259

34,366

Reliance-Vision Express Private Ltd and Reliance-GrandVision India Supply Private Ltd

936

1,979

1,195

36,345

The movements in investments in the Associates and Joint Ventures are as follows:

in thousands of EUR

2017

2016

At 1 January

36,345

40,438

Share of result of Associates and Joint Ventures

1,932

3,851

Dividend received

- 6,090

- 8,215

Change in control of Visilab

- 31,129

-

Acquisitions

233

-

Capital contributions in Associates and Joint Ventures

-

336

Currency translation differences

- 96

- 65

At 31 December

1,195

36,345

In October 2017, GrandVision increased its shareholding and obtained control of Visilab, which resulted in Visilab becoming a subsidiary of GrandVision. Refer to note 6 for more details.