3 Scope of the consolidation
The consolidated financial statements of Heidelberger Druckmaschinen Aktiengesellschaft include a total of 75 (previous year: 73) domestic and foreign companies in which Heidelberger Druckmaschinen Aktiengesellschaft has a controlling influence as defined by IAS 27. Of these companies, 64 (previous year: 65) 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. Owing to the business management by Heidelberger Druckmaschinen Aktiengesellschaft, the Company also has a controlling influence over subsidiaries in which it holds less than 50 percent of the capital. These subsidiaries are therefore consolidated in full. 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 material subsidiaries included in the consolidated financial statements are listed in the notes to the consolidated financial statements in the appendix “Major shares in affiliated companies”.
The Heidelberg consolidated financial statements as of March 31 include five (previous year: five) companies whose balance sheet date is December 31. If these companies conduct material transactions between December 31 and March 31, they are included in the consolidated financial statements.
The company group
As against the previous year, the scope of the consolidation changed as follows:
- First-time consolidation:In the financial year 2009/2010, Saphira Handelsgesellschaft mbH, Waiblingen, Germany, as well as Heidelberger Druckmaschinen Real Estate GmbH & Co. KG, Walldorf, Germany, and Heidelberger Druckmaschinen Vermögensverwaltungsgesellschaft mbH, Walldorf, Germany, were included in the scope of consolidation.
- Merger:As of April 1, 2009, Hi-Tech Coatings B.V., Zwaag, the Netherlands, was merged
with Hi-Tech Coatings International B.V., Zwaag, the Netherlands.