Annual Report - Miba

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B. Principles of Consolidation
with the percentage of completion method recognizing pro rata realized profits. The percentage
of completion is determined by the ratio between actual costs and estimated total
costs (cost to cost method).
1. Consolidation Group and Statement Date
An overview of Miba AG Group's material consolidated companies can be found in Appendix
3 to the Notes.
The company is included in the full consolidation group of the Mitterbauer Beteiligungs-
Aktiengesellschaft, Laakirchen.
The consolidation group was established according to the principles of IAS 27 (Consolidated
Financial Statements and Accounting for Investments in Subsidiaries).
Accordingly, the consolidation includes 8 domestic (6 in the previous year) and 13 foreign
(12 in the previous year) subsidiaries in which Miba Aktiengesellschaft directly or indirectly
holds a controlling interest. The four non-consolidated subsidiaries are immaterial, even in
sum total.
The balance sheet date for all companies included in the consolidated financial statements
is January 31 of every year. The exception is the B-company, Austria (December 31), for
which no interim accounts were prepared.
The balance sheet date for Mahle Metal Leve Miba Sinterizados Ltda., Sao Paulo, Brazil,
is December 31 of every year. The statement is prepared according to the equity method.
No significant events impacting the financial position and earnings situation occurred
between the balance sheet date of these two companies and the balance sheet date of
the consolidated financial statements.
During the reporting period, the consolidation group (including Miba Aktiengesellschaft)
changed as follows:
Fully Consolidated
consolidated at equity
On February 1, 2004 19 1
Included in the reporting period
for the first time 3 0
On January 31, 2005 22 1
of which foreign companies 13 1