Consolidation group

Besides METRO AG, all companies indirectly or directly controlled by METRO AG are included in the consolidated financial statements if these companies individually or as a group are not immaterial to the consolidated financial statements. 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.

METRO GROUP’s operational business is handled by the following three sales lines:

  • METRO Cash & Carry
  • Media-Saturn
  • Real

Non-controlling interests exist essentially in the Media-Saturn sales line. For an overview of significant non-controlling interests, see no. 32.

Besides METRO AG, 653 German (30/9/2015: 625) and 643 international (30/9/2015: 633) companies were included in the consolidated financial statements.

The group of consolidated companies changed as follows in financial year 2015/16:

 Download XLS (22KB)

As of 1/10/2015

1,259

Changes in financial year 2015/16

 

Companies merged with other consolidated subsidiaries

5

Disposal of shares

1

Other disposals

19

Newly founded companies

25

Acquisitions

32

Other additions

6

As of 30/9/2016

1,297

Deconsolidated companies are included as group companies up to the date of their disposal.

Mergers with other consolidated subsidiaries concern four companies in the Media-Saturn segment as well as one company in the Others segment.

The other disposals comprise:

  • liquidations (13 companies)
  • accretion (6 companies)

Additions due to newly founded companies concern the Media-Saturn (13 companies), METRO Cash & Carry (6 companies) and Others (6 companies) segments.

Acquisitions essentially include the acquisition of the RTS group and the Rungis group by the Media-Saturn (21 companies) and METRO Cash & Carry (10 companies) segments respectively.

The other additions result from the change in the consolidation method and exclusively concern the METRO Cash & Carry segment.

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

For materiality reasons, 8 affiliated subsidiaries have not been fully consolidated, but have been recognised at cost of purchase in the item financial investments.

Structured entities

Structured entities within METRO GROUP concern leasing companies. The key purpose of the leasing companies is to acquire, lease out and manage assets. As of the closing date, 11 (30/9/2015: 11) structured entities were fully consolidated. METRO GROUP did not have any relationships with unconsolidated structured entities during financial year 2014/15.

Investments accounted for using the equity method

21 associates (30/9/2015: 25) and 7 joint ventures (30/9/2015: 4) are recognised in the consolidated financial statements according to the equity method.

Another 3 companies (30/9/2015: 3) 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.

The information provided refers to all operating units in which the respective subsidiary holds interests.

Overview of major subsidiaries with non-controlling interests

in € million

 Download XLS (24KB)

30/9/2015

 

Non-controlling interests

 

 

 

Name

Head office

in %

As of 30/9/2015

Dividends paid1

Non- current assets1

Current assets1

Non- current liabilities1

Current liabilities1

Sales1

Profit shares1, 2

1

In the case of Media-Saturn including the respective national operating units, in which (in part) additional non-controlling interests are held

2

Profit share attributable to non-controlling interests

METRO Cash & Carry

 

 

 

 

 

 

 

 

 

 

METRO Jinjiang Cash & Carry Co., Ltd.

Shanghai, China

10.00

−4

0

253

744

3

883

2,632

0

METRO CASH & CARRY ROMANIA SRL

Bucharest, Romania

15.00

0

0

81

335

44

172

892

0

Media-Saturn

 

 

 

 

 

 

 

 

 

 

Media-Saturn-Holding GmbH

Ingolstadt, Germany

21.62

2

−109

1,313

2,688

110

2,819

9,780

51

Mediamarket S. p. A. con Socio Unico

Curno, Italy

21.62

−11

0

11

413

29

467

2,168

−1

MEDIA MARKT SATURN, S.A. UNIPERSONAL

El Prat de Llobregat, Spain

21.62

−29

−33

102

602

6

619

1,784

9

Media Markt Saturn Holding Nederland B. V.

Rotterdam, Netherlands

21.62

3

−13

104

291

17

402

1,485

6

Media-Saturn Beteiligungsges.m.b.H.

Vösendorf, Austria

21.62

−37

−35

41

373

22

340

1,124

10

OOO Media-Markt-Saturn

Moscow, Russia

21.62

−1

0

104

186

21

271

761

−9

Media Saturn Holding Polska Sp. z o.o.

Warsaw, Poland

21.62

−12

−22

55

227

11

265

977

6

Other companies

 

 

 

 

 

 

 

 

 

 

METRO PROPERTIES GmbH & Co. KG

Düsseldorf, Germany

0.49

0

0

196

1,725

17

1,759

0

0

 Download XLS (24KB)

30/9/2016

 

Non-controlling interests

 

 

 

Name

Head office

in %

As of 30/9/2015

Dividends paid1

Non- current assets1

Current assets1

Non- current liabilities1

Current liabilities1

Sales1

Profit shares1, 2

1

In the case of Media-Saturn including the respective national operating units, in which (in part) additional non-controlling interests are held

2

Profit share attributable to non-controlling interests

METRO Cash & Carry

 

 

 

 

 

 

 

 

 

 

METRO Jinjiang Cash & Carry Co., Ltd.

Shanghai, China

10.00

−9

0

276

738

3

856

2,635

4

Media-Saturn

 

 

 

 

 

 

 

 

 

 

Media-Saturn-Holding GmbH

Ingolstadt, Germany

21.62

23

−74

1,517

2,590

107

3,129

10,007

40

Mediamarket S. p. A. con Socio Unico

Curno, Italy

21.62

−13

0

110

453

28

495

2,084

3

MEDIA MARKT SATURN, S.A. UNIPERSONAL

El Prat de Llobregat, Spain

21.62

−42

−36

119

688

4

700

1,895

13

Media Markt Saturn Holding Nederland B. V.

Rotterdam, Netherlands

21.62

−1

−10

105

296

16

399

1,573

6

Media-Saturn Beteiligungsges.m.b.H.

Vösendorf, Austria

21.62

−46

−35

53

385

25

355

1,139

11

OOO Media-Markt-Saturn

Moscow, Russia

21.62

−10

0

64

184

67

228

534

−21

Media Saturn Holding Polska Sp. z o.o.

Warsaw, Poland

21.62

−20

−25

56

237

11

277

990

6

Other companies

 

 

 

 

 

 

 

 

 

 

METRO PROPERTIES GmbH & Co. KG

Düsseldorf, Germany

0.49

−1

0

196

1,884

19

1,907

0

0

A complete list of group companies and associates is shown in no. 55 – overview of the major fully consolidated group companies. In addition, a complete list of all group companies and associates is shown in no. 57 – affiliated companies of the METRO AG as of 30 September 2016 pursuant to § 313 of the German Commercial Code.