2.c.
Consolidation area
The consolidated semi-annual interim financial statements as of June 30 2011 and the consolidated financial statements for the previous year of the Group are the result of the consolidation at those dates of the Parent Company of the CIR Group and of all the companies directly or indirectly controlled, jointly controlled or associated, with the exception of any companies being wound up. Assets and liabilities relating to companies scheduled for disposal are reclassified in the items of assets and liabilities that show such an eventuality. This item at June 30 2011 shows the net value of a properties belonging to the Sorgenia and KOS group which are scheduled to be sold during 2011. The list of equity investments included in the consolidation area, with an indication of the method used, and of those not included is given in the appropriate section of this document. 2.d.
Changes in the consolidation area
The main changes in the consolidation area compared with the previous year concern the following: Utilities sector The following companies are new entries to the consolidation area: - Latina 3 S.r.l.Sorgenia Bonefro S.r.l. - Sorgenia Caggiano S.r.l. - Sorgenia Campania S.r.l. - Sorgenia Green S.r.l. - Sorgenia Trinidad & Tobago S.r.l. Media sector During the period there were no further changes to the consolidation compared to 31 December 2010. Automotive components It should be noted that in the first half of the year the subsidiary Allevard Rejna Autosospensions S.A. increased its interest in the subsidiary S.ARA. Composite S.a.S. from 81.82% to 86.67%, through a capital increase. In June 2011 the merger by incorporation of Sogefi Filtration A.B. into Filtrauto S.A. was completed. During the period there were no further changes to the consolidation area. Healthcare sector In the first half of 2011 the following transactions led to a change in the consolidation area: - in the Rehabilitation sector (Istituto di Riabilitazione Santo Stefano and Redancia) - the acquisition in March of the remaining 20% interest in the company Jesilab S.r.l, for the sum of € 16,000, so that its entire capital is now owned by the group. This transaction resulted in a negative consolidation difference of € 40 thousand, recognised to the special equity reserve in accordance with international accounting standards (IFRS 3 revised). - acquisition through the subsidiary Sanatrix S.r.l. of the remaining third of La Pineta S.r.l. capital (2.514%). This transaction, involving an outlay of € 240,000, resulted in a negative consolidation difference of € 51 thousand.
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Consolidated Financial Statements