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.

Including METRO AG, 201 German (30/9/2017: 204) and 200 international (30/9/2017: 215) companies are included in the consolidated financial statements.

The group of consolidated companies changed as follows in financial year 2017/18:

As of 1/10/2017

 

419

Changes in financial year 2017/18

 

 

Companies merged with other consolidated subsidiaries

 

6

Disposal of shares

 

9

Other disposals

 

12

Newly founded companies

 

6

Acquisitions

 

3

As of 30/9/2018

 

401

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

The reported 9 disposals exclusively concern the Western Europe segment (excluding Germany).

The other disposals result in particular from 7 liquidations.

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 the group concern leasing companies. The key purpose of the leasing companies is to acquire, lease out and manage assets. As of the closing date, 3 (30/9/2017: 9) structured entities are fully consolidated. As was already the case in the , there were no obligations to grant financial assistance to structured entities within the meaning of 12.14. There are also no relationships with unconsolidated structured entities.

Investments accounted for using the equity method

24 associates (30/9/2017: 22) and 8 joint ventures (30/9/2017: 7) are recognised in the consolidated financial statements according to the equity method.

Another 2 companies (30/9/2017: 2) 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

€ million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

METRO Jinjiang Cash & Carry Co., Ltd.

 

Shanghai, China

 

10.00

24

 

0

 

326

 

768

 

3

 

841

 

2,672

 

11

€ million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30/9/2018

 

 

 

Non-controlling interests

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name

 

Registered office

 

in %

as of 30/9/2018

 

Dividends paid1

 

Non-current assets

 

Current assets

 

Non-current liabilities

 

Current liabilities

 

Sales

 

Profit share1

1

Attributable to non-controlling interests.

METRO Jinjiang Cash & Carry Co., Ltd.

 

Shanghai, China

 

10.00

23

 

0

 

291

 

797

 

3

 

860

 

2,652

 

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 METRO AG as of 30 September 2018 pursuant to § 313 of the German Commercial Code.
Wholesale, METRO Wholesale
The METRO Wholesale segment comprises the METRO Wholesale sales line of METRO AG with more than 769 wholesale stores across 35 countries worldwide. This also includes the delivery business (Food Service Distribution) with companies like METRO delivery service and the delivery specialists Classic Fine Foods, Pro à Pro and Rungis Express.
Glossary
Previous year
Period of 12 months, usually cited as reference for statements in an annual report.
Glossary
IFRS (International Financial Reporting Standards)
Internationally applicable rules for financial reporting developed by the IASB. Contrary to the accounting rules under the German Commercial Code, the IFRS emphasise the informational function.
Glossary