Aggregate information on non-material joint ventures and associates (Vopak N.V. 2018 financial statements, pages 153 and 156)
In this disclosure, Vopak explains that a large part of the operations is conducted using joint ventures and associates, but that none of these interests are individually material. The financial information provided thereafter shows the impact for Vopak, with a distinction drawn between segments in respect of net profit/total comprehensive income and the financial position. Vopak refers to its disclosure of the contingent assets and liabilities (see further below). Disclosures immaterial associates and joint ventures
And Note 9.8 Contingent assets and contingent liabilities in respect of joint ventures and associates
The 2018 commitments related primarily to expansion projects in the Asia & Middle East division and RIPET (Canada). The 2017 commitments for joint ventures and associates mainly related to the expansion of PITSB in Pengerang (Malaysia) and RIPET (Canada). Disclosures immaterial associates and joint ventures
In 2017, guarantees and securities provided on behalf of participating interests in joint ventures and associates increased due to a guarantee provided for RIPET (Canada) of EUR 89.3 million, offset by a decrease in guarantees due to the partial repayment of the loan to PT Jakarta Tank Terminal (Indonesia) and the fulfillment of conditions precedent with respect to the loan and exchange rate effects.
The amounts of guarantees and securities can potentially be called within one year. Disclosures immaterial associates and joint ventures
Guarantees and securities included in ratio calculations Disclosures immaterial associates and joint ventures
The notional amount of guarantees and securities provided on behalf of participating interests in joint ventures and associates, which is also included in ratios, decreased from EUR 91.6 million at 31 December 2017 to EUR 86.6 million at 31 December 2018. Of this amount, nil was recognized in the statement of financial position (2017: EUR 0.1 million). Reference is also made to note 5.5.