13. Shares in associates and joint ventures
2017 2016
Opening balance 22.2 23.3
Translation differences -0.1 -0.2
Disposals, business disposals -0.7 -
Closing balance 21.3 23.1
Share of associates' and joint ventures' results 1.7 -0.1
Dividend from associates and joint ventures -0.5 -0.9
Shares in associates on 31 Dec. 22.5 22.2
Effect on the Group's earnings:
Associates 0.3 -0.6
Joint ventures 1.4 0.5
Total 1.7 -0.1
Book value in the Group's balance sheet:
Associates 11.7 12.2
Joint ventures 10.8 9.9
Total 22.5 22.2
Associated companies and joint ventures consolidated in the Group’s financial statements are listed in note 27. The Group has no single material associated companies or joint ventures. The Group conducts business through the associates and joint ventures. The activities include slaughtering, cutting, meat processing, and the use of leasing, waste disposal, research and advisory services.
There are no contingent liabilities relating to the Group’s interest in the associates and joint ventures.