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’s operational business is divided into the following 2 Segments:

Besides METRO AG, 203 German (30/9/2016: 186) and 215 international (30/9/2016: 215) companies were included in the consolidated financial statements.

The group of consolidated companies changed as follows in financial year 2016/17:

As of 1/10/2016

 

401

Changes in financial year 2016/17

 

 

Companies merged with other consolidated subsidiaries

 

3

Disposal of shares

 

3

Other disposals

 

18

Newly founded companies

 

29

Acquisitions

 

13

As of 30/9/2017

 

419

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

Mergers with other consolidated subsidiaries as well as the sales, each comprise 2 companies in the METRO Wholesale segment and 1 company in the Others segment.

The other disposals result in particular from 9 liquidations.

Additions due to newly founded companies concern the Others segment (22 companies), METRO Wholesale (4 companies) and Real (3 companies).

The acquisitions mainly relate to the acquisition of Pro à Pro (11 companies).

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

For materiality reasons, 4 affiliated subsidiaries are not fully consolidated.

Structured entities

Structured entities within METRO concern leasing companies. The key purpose of the leasing companies is to acquire, lease out and manage assets. As of the closing date, 9 (30/9/2016: 11) structured entities were fully consolidated. There are no relationships with unconsolidated structured entities.

Investments accounted for using the equity method

22 associates (30/9/2016: 21) and 7 joint ventures (30/9/2016: 5) are recognised in the consolidated financial statements according to the equity method.

Another 2 companies (30/9/2016: 4) in which METRO AG indirectly or directly holds between 20 and 50% 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.

Overview of major subsidiaries with non-controlling interests

in € million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30/9/2016

 

 

 

Non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name

 

Registered office

 

in %

as of 30/9/2016

 

Dividends paid1

 

Non-current assets

 

Current assets

 

Non-current liabilities

 

Current liabilities

 

Sales

 

Profit share1

METRO Wholesale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

METRO Jinjiang Cash & Carry Co., Ltd.

 

Shanghai, China

 

10.00

9

 

0

 

276

 

738

 

3

 

856

 

2,635

 

4

30/9/2017

 

 

 

Non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name

 

Registered office

 

in %

as of 30/9/2017

 

Dividends paid1

 

Non-current assets

 

Current assets

 

Non-current liabilities

 

Current liabilities

 

Sales

 

Profit share1

1

Attributable to non-controlling shareholders.

METRO Wholesale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

METRO Jinjiang Cash & Carry Co., Ltd.

 

Shanghai, China

 

10.00

24

 

0

 

326

 

768

 

3

 

841

 

2,672

 

11

  • A complete list of all major companies 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 METRO AG as of 30 September 2017 pursuant to § 313 of the German Commercial Code.
Wholesale, METRO Wholesale
The METRO Wholesale segment comprises the METRO Cash & Carry sales line of METRO AG with more than 750 wholesale markets across 25 countries worldwide. The delivery business (food service distribution) is also part of this segment, with companies like METRO Delivery Service and the delivery specialists Classic Fine Foods, Pro à Pro and Rungis Express.
Glossary