3 Scope of the consolidation
The consolidated financial statements of Heidelberger Druckmaschinen Aktiengesellschaft include a total of 71 (previous year: 70) domestic and foreign companies in which Heidelberger Druckmaschinen Aktiengesellschaft has a controlling inf luence as defined by IAS 27. Of these companies, 64 (previous year: 63) are located outside Germany. Control as defined by IAS 27 exists if the financial and operating policy of a company can be influenced in order to derive benefits from its activities. Inclusion in the consolidated financial statements occurs at the time that control is established. Subsidiaries that are of minor importance are not included. The list of the shareholdings of Heidelberger Druckmaschinen Aktiengesellschaft is published in the electronic Bundesanzeiger (Federal Gazette). The significant subsidiaries included in the consolidated financial statements are listed in the notes in the appendix ‘Major shares in affiliated companies’.
The Heidelberg consolidated financial statements as of March 31 also include five companies whose balance sheet date is December 31. If these companies conduct significant transactions between December 31 and March 31, they are included in the consolidated financial statements.
As against the previous year, the scope of the consolidation changed as follows:
- First-time consolidation:
Heidelberg Grafik Ticaret Servis Limited Sirketi, Istanbul, Turkey, was included in the scope of consolidation for the first time in the fourth quarter of the year under review.