ÖBB Annual Report 2023

231 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 13 Composition of and change in the basis of consolidation The scope of consolidation includes, in addition to ÖBB-Holding AG, 64 (py: 65) other fully consolidated companies as well as ten (py: ten) associated companies and one (py: one) joint venture accounted for using the equity method, making a total of 76 (py: 77) companies. The companies included in the Consolidated Financial Statements are disclosed in Note 34. The basis of consolidation is defined to enable the Consolidated Financial Statements to give a true and fair view of the net assets, financial position and results of operations of the ÖBB Group. The companies not included in the scope of full consolidation are companies with a low volume of business, with total turnover, assets and liabilities and each less than 1% of the Group values. Change in the basis of consolidation in the years 2022 and 2023 The basis of consolidation developed as follows: Basis of consolidation Full consolidation Consolidation using the equity method Total As of Jan 01, 2022 67 11 78 thereof foreign companies 35 6 41 Addition 0 1 1 thereof foreign companies 0 1 1 Disposal -1 -1 -2 As of Dec 31, 2022 66 11 77 thereof foreign companies 35 7 42 Disposal (due to intragroup merger) -1 0 -1 thereof foreign companies -1 0 -1 As of Dec 31, 2023 65 11 76 thereof foreign companies 34 7 41 As at 01.07.2023, the affiliated fully consolidated company Rail Cargo Terminal – S. Stino S.r.l. (San Stino, Italy) was merged with the affiliated fully consolidated company Rail Cargo Terminal – Desio S.r.l. (Desio, Italy) with retroactive effect from 01.01.2023 and subsequently renamed Rail Cargo Logistics – Terminals Italy s.r.l. (Desio, Italy). In the previous year, the shares in Güterterminal Werndorf Projekt GmbH (Vienna) were sold, which means that this company is no longer included in the consolidated financial statements as an affiliated, fully consolidated company. The company Breitspur Planungsgesellschaft mbH in Liqu. (Vienna) was deleted from the commercial register in 2023 and was in liquidation since December 2022, meaning that there was no longer any significant influence over this company and the company was no longer accounted for using the equity method as at 31.12.2022. The company was liquidated on 01.12.2023. In addition, RAILTOUR (SUISSE) SA (Zollikofen, Switzerland) was included in the consolidated financial statements for the first time as of 31.12.2022 using the equity method. The initial consolidation of this company resulted in a difference of approx. EUR 4.4 million in 2022, which was made up of hidden reserves of approx. EUR 1.8 million and goodwill of approx. EUR 2.6 million. The presentation of goodwill is shown in the statement of changes in non-current assets in Note 15. The effects arising from the deconsolidation of subsidiaries and shares in subsidiaries are recognised in profit or loss under other operating income, other operating expenses and the result from companies accounted for using the equity method. An overview of all Group companies is provided in Note 34. 3. Summary of significant accounting policies Basis of preparation of financial statements The consolidated financial statements are prepared on the basis of the principle of amortised cost. This excludes derivative financial instruments and equity instruments measured at fair value and personnel provisions accounted for using the Projected-Unit-Credit-Method (PUC method).