Group, parent company and group revenues
A group is managed by single natural persons or a plurality of natural persons who exercise majority control over two or more companies.
In other cases, the parent company is a company that exercises control over one or more companies and which in turn is not controlled by other companies or by individual natural persons or by a plurality of persons as defined above.
Finally, in the cases of foreign groups, the parent company is generally represented by the Ultimate Corporation. The group structure includes companies subject to legal or de facto control, exercised directly or indirectly by the parent company.
With regard to foreign groups, the group structure is limited to companies controlled in Italy. The group is identified by Cerved B.I. regardless of whether or not there is a management and coordination activity that a parent company can exercise over one or more subsidiaries.
The reference to the term “Group” has no legal value or consequence as it is used for purely practical purposes for a more immediate reading of the information.
The same term, therefore, could be used in this document even in the absence of a management and coordination activity by a controlling entity (also a “personal” holding or parent company) towards other companies.
The process of calculating Group Revenues – or other balance sheet item – is designed in such a way as to provide a consistent calculation, or by adding the particular item present in the financial statements of the companies of the group all referring to the same year.
By indicating the current year with X, the years X-1 and X-2 are taken into account (for example, if the calculation is made during 2019, the financial statements filed in 2018 and 2017 are taken into consideration).
For the calculation, the year X-1 is used if and only if all the companies belonging to the group that:
- are officially operational
- they had filed a balance sheet in year X-2
have already filed the balance sheet for year X-1.
Otherwise, all the financial statements filed by the companies of the group in year X-2 are used.