Consolidation group

Apart from METRO AG, the consolidated financial statements comprise all companies in which METRO AG has indirect or direct control. Control exists if there is a possibility to control a company’s financial and business policy through a majority of voting rights or according to the articles of association, company contract or contractual agreement in order to benefit from this company’s business activities. These include 723 German (30/9/2013: 710) and 613 international (30/9/2013: 614) companies indirectly or directly controlled by METRO AG in accordance with IAS 27 (Consolidated and Separate Financial Statements) in conjunction with SIC-12 (Consolidation – Special Purpose Entities).

The group of consolidated companies changed as follows in financial year 2013/14:

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As of 1/10/2013


Changes in financial year 2013/14


Companies merged with other consolidated subsidiaries


Disposal of shares


Other disposals


Newly founded companies




As of 30/9/2014


Disposals primarily include two Polish companies and one Turkish company related to the disposal of Real’s Eastern European business. Mergers with other group companies mainly comprise six companies of the Media-Saturn sales line. Other disposals mostly include roll-ups and liquidations in the other disposals area (9 companies). Additions from newly founded companies (23 companies) pertain mainly to the Media-Saturn (7 companies) and Galeria Kaufhof sales lines (6 companies). Acquisitions primarily concern the Real sales line (13 companies).

Effects from changes in the consolidation group that are of special significance are explained separately in the respective items.

7 associates (30/9/2013: 6) and 7 joint ventures (30/9/2013: 7) are recognised in the consolidated financial statements according to the equity method. A total of 7 companies (30/9/2013: 7) in which METRO AG indirectly or directly holds between 20 and 50 per cent of the voting rights were valued at cost because they did not qualify as associates or because materiality considerations made the use of the equity method unnecessary.

A complete list of group companies and associates is shown in no. 54 Overview of the major fully consolidated group companies. In addition, a complete list of all group companies and associates is shown in no. 56 Affiliated companies of the group METRO AG as of 30 September 2014 pursuant to § 313 of the German Commercial Code.