Consolidation scope

Basis and scope of consolidation

Ansaldo STS group’s condensed interim consolidated financial statements at 30 June 2013 include the interim financial statements at 30 June 2013 of the companies/entities in the consolidation scope (the “consolidated entities”) drafted pursuant to the IFRS applied by Ansaldo STS group. The consolidated entities are listed below, showing the group’s related direct or indirect interest therein:

Companies consolidated on a line-by-line basis

 NAME   INVESTMENT  TYPE  REGISTERED OFFICE
SHARE
CAPITAL
(€’000)
 CURRENCY INVESTMENT
%
ANSALDO STS AUSTRALIA PTY LTD
 Direct  Eagle Farm (Australia)
 5,026  AUD  100
ANSALDO STS SWEDEN AB
 Direct  Solna (Sweden)
 4,000  SEK  100
ANSALDO STS FINLAND OY (in liq.)
 Indirect  Helsinki (Finland)
 10  EUR  100
ANSALDO STS UK LTD
 Direct  London (United Kingdom)
 1,000  GBP  100
ANSALDO STS IRELAND LTD
 Direct  Tralee (Ireland)
 100  EUR  100
ACELEC Société par actions simplifiée
 Indirect  Les Ulis (France)
 168  EUR  100
ANSALDO STS ESPAÑA SA
 Indirect  Madrid (Spain)
 1,500  EUR  100
ANSALDO STS BEIJING LTD
 Indirect  Beijing (China)
 837  EUR  80
ANSALDO STS HONG KONG LTD
 Indirect  Hong Kong (China)
 100  HKD  100
ANSALDO STS FRANCE Société par
actions simplifiée
 Direct  Les Ulis (France)
 5,000   EUR   100
UNION SWITCH & SIGNAL INC
 Indirect  Greenville (Delaware USA)
 1  USD  100 
ANSALDO STS MALAYSIA SDN BHD    Indirect   Petaling Jaya (Malaysia)    3,000  MYR  100 
ANSALDO STS CANADA INC
 Indirect   Kingstone (Canada)    0  CAD  100 
ANSALDO STS USA INC
 Direct   Wilmington (Delaware USA)    0.001    USD  100 
ANSALDO STS USA INTERNATIONAL CO
 Indirect  Wilmington (Delaware USA)
 1  USD  100
ANSALDO STS USA INT. PROJECTS CO
 Indirect  Wilmington (Delaware USA)
 25  USD   100
ANSALDO STS TRANSPORTATION SYSTEMS INDIA PVT LTD
 Indirect  Bangalore (India)
 3,012,915  INR  100
ANSALDO STS DEUTSCHLAND GMBH
 Direct  Munich (Germany)
 26  EUR  100
ANSALDO RAILWAY SYSTEM TRADING (BEIJING) Ltd    Direct  Beijing (China)
 1,500  USD  100
ANSALDO STS-SINOSA RAIL SOLUTIONS SOUTH AFRICA (PTY) LTD    Indirect  Frankenwald (South Africa)
 2  ZAR  51
ANSALDO STS SOUTHERN AFRICA PTY LTD    Indirect  Gaborone (Botswana)
 0.1  BWP  100

Companies consolidated on a proportionate basis

NAME INVESTMENT TYPE
REGISTERED OFFICE
SHARE
CAPITAL
(€’000)
 CURRENCY INVESTMENT %  
BALFOUR BEATTY ANSALDO SYSTEMS JV   SDN BHD    Indirect  Kuala Lumpur (Malaysia)
 6,000  MYR  40
KAZAKHSTAN TZ-ANSALDO STS ITALY LLP1   Direct  Astana (Kazakhstan)
 22,000  KZT  49
1. In its meeting of 26 June 2013, Ansaldo STS’s board of directors approved the dissolution of the JV with JSC Remlokomotiv and authorised the early closure and liquidation of “Kazakhstan TZ-Ansaldo STS Italy LLP”, which will take place in the second half of 2013. Based on the information available to directors, to date, the above transactions will not generate significant liabilities for Ansaldo STS group.

Companies measured using the equity method

 NAME INVESTMENT
TYPE
REGISTERED OFFICE
SHARE
CAPITAL
(€’000)
 CURRENCY INVESTMENT
%
ECOSEN CA (Venezuela)
 Indirect  Caracas (Venezuela)    1,310  VBF  48 
ALIFANA SCRL  Direct  Naples (Italy)
 26  EUR  65.85
ALIFANA DUE SCARL
 Direct  Naples (Italy)
 26  EUR  53.34
PEGASO SCRL  Direct  Rome (Italy)  260  EUR  46.8
METRO 5 S.p.A.
 Direct  Milan (Italy)
 50,000  EUR  24.6
Metro Brescia S.r.l.
 Direct  Brescia (Italy)
 4,020  EUR  19.796
INTERNATIONAL METRO SERVICE S.r.l.
 Direct  Milan (Italy)
 700  EUR  49

During the period, no significant changes occurred in the consolidation scope.

Following the signing of a preliminary sale agreement between the subsidiary Ansaldo STS France S.A.S. and an independent party, the investment in Ecosen CA (Venezuela) was reclassified to non-current assets held for sale.

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