Companies Consolidated

In addition to the parent company, the consolidated financial statements include 439 (PY: 429) domestic and foreign companies in which Continental Aktiengesellschaft holds a direct or indirect interest of more than 20.0% of the voting rights. 310 (PY: 308) of these are fully consolidated and 129 (PY: 121) are accounted for using the equity method.

As against the previous year, ten companies have been added to the scope of consolidated companies overall. Five companies were acquired, seven companies were formed and three previously unconsolidated units were included in consolidation for the first time. Nine entities carried at equity were also added to the scope of consolidation. Two companies were sold and two were liquidated. In addition, the number of companies consolidated was reduced by ten as a result of mergers.

In particular, the additions to the scope of consolidation in 2011 relate to the acquisition of Modi Tyres Company Limited, Modipuram, India, and the tires and service sales company Alençon Pneus SAS, Alençon, France, and newly formed entities. Companies no longer included in the scope of consolidation essentially relate to two Matador companies in Russia, one of which was liquidated and one sold. Further disposals resulted from mergers within the Automotive Group and the Rubber Group. The effects of this are shown under Note 5.

33 (PY: 40) companies whose assets and liabilities, expenses and income, individually and combined, are not material for the net assets, financial and earnings position of the corporation, are not included in consolidation. 30 (PY: 36) of these are affiliated companies, 11 (PY: 16) of which are currently inactive. A further three (PY: four) companies not included in consolidation are associated companies, one of which is currently inactive (PY: one).

Further information on equity investments and an overview of the German corporations and partnerships that utilized the exemption provisions of Section 264 (3) of the German Commercial Code (Handelsgesetzbuch – HGB) and Section 264b HGB can be found in Note 40.

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