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2.4 Consolidation principles The consolidated financial statements comprise the financial statements of <strong>Manutencoop</strong> Facility Management S.p.A. and its subsidiaries, prepared as of 31 December. The financial statements of the subsidiaries are prepared at each period end using the accounting policies adopted by the parent company. All intercompany transactions and balances, as well as any related unrealised profits and losses included in asset accounts, are eliminated in full. Subsidiaries are consolidated on a line-by-line basis from the date of acquisition, or from the date on which the Group obtains control, and are deconsolidated when control is transferred outside of the Group. With the exception of acquisitions deriving from the business combination of entities under common control, as explained in para. 2.3 above, the acquisition of subsidiaries is recorded using the purchase method, which involves allocating the purchase cost of a company to the fair value of its assets, liabilities and contingent liabilities at the time of acquisition, and recognising the Group's interest in its results from the acquisition date to the end of the year. Minority interests comprise the portion of profits or losses and net assets attributable to the minority shareholders. They are classified in separate captions of the income statement and the balance sheet, where they are presented separately from the Group's interest in shareholders' equity. Joint ventures are consolidated using the proportional method, while investments in associates are measured using the equity method. Subsidiaries and joint ventures in liquidation are measured using the equity method. This is because they ceased operations from the time they were put into liquidation, and the parent company is no longer able to determine their strategies since their activities are solely dedicated to the realisation of assets and the settlement of liabilities. As such, the parent company is deemed to have lost control over them. The following tables relating to subsidiaries, associates and joint ventures provide summary information as of 31 December 2008 about their names, locations, the Group's direct and indirect interests in their share capital and, if different, the percentage of voting rights exercisable at shareholders' meetings. 123
124 Accounting policies and explanatory notes SUBSIDIARY COMPANIES (consolidated on a line-by-line basis, stating the minority interests in their shareholders' equity and results for the year) Company Name Registered Office 31 December 2008 31 December 2007 Servizi Ospedalieri S.p.A. Ferrara 100% 100% M.C.B. S.p.A. Bologna 100% 75% Teckal S.p.A. Reggio Emilia 100% 100% Omasa S.p.A. Ferrara 100% 100% MP Facility S.p.A. Milan 100% 50% Luigi Minati Service S.r.l. Assago (Milan) - 100% Consorzio Igiene Ospedaliera Soc. Cons. a r.l. Zola Predosa (Bologna) 66.67% 66.67% Simagest 2 Soc. Cons. a r.l. Zola Predosa (Bologna) 60% 60% Consorzio Imolese Pulizie Soc. Cons. a r.l. Imola (Bologna) 60% 60% Consorzio Servizi Toscana Soc. Cons. a r.l. Zola Predosa (Bologna) 60% 60% Servizi Marche Soc. Cons. a r.l. Zola Predosa (Bologna) 60% 60% Simagest 3 Soc. Cons. a r.l. Zola Predosa (Bologna) 89.99% 89.99% Servizi Brindisi Soc. Cons. a r.l. Brindisi 52% 52% Co.Ge.F. Servizi Alberghieri Consip Soc. Cons. a r.l. Zola Predosa (Bologna) 80% 80% Servizi L’Aquila Soc. Cons. a r.l. Zola Predosa (Bologna) 60% - Palmanova Servizi Soc. Cons. a r.l. Zola Predosa (Bologna) 60% - Consorzio Pulizie Veneto Soc. Cons. a r.l. Marghera (Venice) 100% 50% Società Manutenzione Illuminazione S.p.A. Zola Predosa (Bologna) 100% - Manuten. Installazione Ascensori S.p.A. Zola Predosa (Bologna) 100% - Gruppo Sicura S.r.l. Vicenza 80% - Sicurama S.r.l. Casalecchio di Reno (Bologna) 70% - Firing S.r.l. Lainate (Milan) 65% - Mako Engineering S.r.l. Treviglio (Bergamo) 70% - Securveneta S.r.l. Vicenza 80% - Sedda S.r.l. Vicenza 80% - Protec S.r.l. Vicenza 100% - Sicura S.r.l. Vicenza 100% - Leonardo S.r.l. Vicenza 100% - Anticendi Piave S.r.l. Vicenza 70% - Integra FM BV Netherlands 100% - Altair IFM S.p.A. Milan 100% - Ingest Facility S.p.A. Turin 100% - Delivery S.r.l. Monteverdi Marittimo (Pisa) 60% - Envolta S.r.l. Milan 55% - Facility Management Frances S.a. France 100% - Integra Energy S.r.l. Milan 100% -
Page 1: manutencoop facility management CON
Page 4 and 5: CONSOLIDATED INCOME STATEMENT 113 (
Page 6 and 7: STATEMENT OF CHANGES IN CONSOLIDATE
Page 8 and 9: 117 • project management and refu
Page 10 and 11: 2.2 Changes in accounting principle
Page 12 and 13: 121 a subsidiary. The change to IAS
Page 16 and 17: 125 SUBSIDIARY COMPANIES (consolida
Page 18 and 19: 127 The Group made the following ma
Page 20 and 21: 129 Commencing from 2008, managemen
Page 22 and 23: 131 The capitalisation of borrowing
Page 24 and 25: 133 exceeding the carrying amount n
Page 26 and 27: 135 As in prior years, during the y
Page 28 and 29: 137 The actuarial gains and losses
Page 30 and 31: 139 on a systematic basis that offs
Page 32 and 33: 141 Facility management: this is th
Page 34 and 35: 143 31/12/2007 31/12/2007 adjustmen
Page 36 and 37: 145 4.1 Financing of the acquisitio
Page 38 and 39: 147 Recognised value Carrying amoun
Page 40 and 41: 149 The fair value of the assets an
Page 42 and 43: 151 4.7 Acquisition of Integra IFM
Page 44 and 45: 4.8 Acquisition of Gruppo Sicura S.
Page 46 and 47: 155 description Recognised value Ca
Page 48 and 49: 157 The following table reports the
Page 50 and 51: 159 The following table reports the
Page 52 and 53: 161 23 December 2008 following the
Page 54 and 55: 163 Based on a provisional allocati
Page 56 and 57: 165 (in thousands of Euro) 31 Decem
Page 58 and 59: 167 Approved financial statements a
Page 60 and 61: 169 Inventories of raw materials co
Page 62 and 63: 171 Other current receivables have
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173 As stated in note 3, commencing
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175 17. Provisions for risks and ch
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177 During 2008, the management of
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179 Other current financial liabili
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181 In addition, considering the in
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183 Other segment information for t
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185 24. Services, leases and rental
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187 This rise is mainly attributabl
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189 31. Taxation This caption is an
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191 • Discounting of employee sev
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193 Associates year Revenues Costs
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guarantees have been given or recei
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197 Remuneration of the Board of Di
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199 The same information for the ye
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201 Interest-rate risk Current Grou
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203
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206 report of the independent audit
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Concept and photographs: D&P S.r.l.
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