Annual Report 2005/06 THE WORLD OF SOUND - Sonova

19. Investments in associates and joint venturesThe Group’s share of the results of its principal associates and joint ventures and its share of the assets (including goodwill andliabilities) are as follows:Investments in associates and joint ventures1,000 CHFCurrent assetsNon-current assetsTotal assetsCurrent liabilitiesLong-term liabilitiesTotal liabilitiesNet assets2005/061,5731,5483,121(914)(74)(988)2,1332004/051,4481,1722,620(1,021)(1,021)1,599Income for the yearExpenses for the yearLoss for the year3,332(5,757)(2,425)2,665(3,624)(959)Net book value as at year endShare of (loss)/gain recognized by Phonak4,064(134)1,596152The significant investments consist of an associated company with a 25% equity share in Cochlear Accoustics Ltd. and of a 25% equity sharein a joint venture with other leading hearing instrument manufacturers, HIMSA A/S, active in software development in Copenhagen.In the financial year 2005/06 several acquisitions of investments in associates have been made for a total acquisition value of CHF 2.6 million.For two investments with a net book value of CHF 2.8 million, the financial statements with a business year ending on December 31 wereincluded accordingly.68 Consolidated Financial Statements