17. Investments in associates
| In CHF'000 | 2008 | 2007 |
|---|---|---|
| At January 1 | 10 700 | 9 441 |
| Acquisition of associates | 4 206 | - |
| Change in scope of consolidation | - | -254 |
| Share of profit/(loss) | 1 645 | 2 465 |
| Dividends received | -8 750 | -1 229 |
| Carrying value of an associate at disposal date | -1 727 | - |
| Exchange differences | -511 | 277 |
| At December 31 | 5 563 | 10 700 |
The Group's interests in its principal associates, all of which are unlisted, were as follows:
| Interest held | |||
| Name of associate | Principal activity | 2008 | 2007 |
| Digital Elektronik GmbH, Austria | Manufacture of Electronics products | 0% | 25% |
| APT-SkiData Ltd, United Kingdom | Sales of Physical Access products | 26% | 26% |
| SkiData Parking Systems, Hong-Kong | Sales of Physical Access products | 26% | 26% |
| SKIDATA India Private Limited, India | Sales of Physical Access products | 26% | 0% |
| Resort Technology Partners LLC, USA | Sales of Physical Access products | 25% | 0% |
| TESC Test Solution Center GmbH, Germany | Services for Digital Television | - | * |
| Ticketcorner Holding AG | Event distribution and ticketing | 28% | 28% |
* consolidated as a subsidiary starting October 24, 2007
Summarized financial information of the Group's associates
| In CHF'000 | 31.12.2008 | 31.12.2007 |
|---|---|---|
| Total assets | 143 925 | 183 308 |
| Total liabilities | 147 991 | 152 128 |
| Net assets | -4 066 | 31 180 |
| Group's share of associates' net assets | 5 563 | 10 700 |
| 2008 | 2007 | |
| Revenue | 140 499 | 163 629 |
| Result of the period | 976 | 10 720 |
| Group's share of associates' result for the period | 10 413 | 2 465 |
The Group's share in the consolidated net assets of its associate Ticketcorner Holding AG, as adjusted for the unrealized portion of its revalued assets and liabilities, is negative. As the Group has no legal or constructive obligation on behalf of the associate, it has not recognized its share of the negative equity. It will resume recognizing its share of subsequent profits once these equal the share of losses not recognized.
The Group's share of associates results in 2008 includes the gain on sale of the 25% stake in Digital Elektronik GmbH of kCHF 8 767, corresponding to the difference between the sale consideration of kCHF 10 494 and the Group's portion of net assets in the associate at disposal date amounting to kCHF 1 727. Further information is described in note 5.