Annual Report 2008 Sustainable design & engineering - Grontmij

Notes to the consolidated financial statements
27. Segment reporting
Grontmij has opted for early adoption of IFRS 8, which replaces IAS 14 Segment Reporting for periods beginning on or after 1 January 2009.
The Executive Board organises the Group around differences in geographical areas. In this respect, the Group recognizes six geographical
segments and Holdings & Eliminations. The latter reconciles the financial data as reported in the six segments to the consolidated balance sheet
and consolidated income statement, and includes the Group’s operations in Hungary and Turkey as well as the amortisation expense of
intangible assets relating to business combinations in order to show the geographical segments’ operational results in the segment reporting.
The Group’s operations in Poland are reported in the segment Germany/Poland; the Group’s operations in Ireland are reported in the segment
UK & Ireland. The Group’s operations in a number of other countries – in total less than 3% of the Group’s revenue and assets – are reported in the
segments whose management is primarily responsible for their performance.
Segment information is presented in respect of the Group’s geographical segments. This segmentation of the Group is based on its geographical
management structure, i.e.:
o Belgium;
o Denmark;
o Germany/Poland;
o The Netherlands;
o Sweden;
o United Kingdom/Ireland.
Holdings & Eliminations includes all reconciling items as well as a number of focus countries.
The results of a segment comprise such items as are charged to the segment or may reasonably be charged thereto. Inter-segment prices have an
arm’s length basis.
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GRONTMIJ | ANNUAL REPORT 2008