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Consolidation group and investments

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, 106 German (30/9/2022: 112) and 171 international (30/9/2022: 172) companies are included in the consolidated financial statements.

The consolidation group changed as follows in financial year 2022/23:

As of 1/10/2022


Changes in financial year 2022/23


Companies merged with or added to other consolidated subsidiaries


Disposal of shares




Newly founded companies




As of 30/9/2023


Disclosures on shareholdings of METRO AG and the METRO group, which are a part of these financial statements, are made in an appendix to the notes. This is included in the accounting documents submitted to the Company Register and can also be found at

Pursuant to § 264 Section 3 or § 264b of the German Commercial Code (HGB), some consolidated subsidiaries are exempt from the obligation to comply with the supplementary accounting, auditing and/or disclosure requirements which apply to corporations and certain partnerships. These are marked accordingly in the appendix to the notes with the disclosures on shareholdings of METRO AG and the group.

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