Nabaltec_E_GB2016

68 ACCOUNTING POLICIES S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C The Management Board of Nabaltec AG has checked whether Nabaltec AG has actual control over Nashtec LLC. This assessment took into account e.g. the majority interest and the other contractual arrangements with Allied Alumina LLC for the management and supervision of Nashtec LLC. The Management Board concluded that, even in light of Sherwin Alumina LLC’s Chapter 11 bankruptcy procedure, Nabaltec AG still has adequate means to influence the opera- tions of Nashtec LLC. Consequently, Nabaltec AG can exercise control over Nashtec LLC. The following subsidiary was not included in the consolidated financial statements of Nabaltec AG but was instead recognized at cost since it is not material for presentation of the financial, liquidity and earnings position. SUBSIDIARIES Name of subsidiary Main Businesses Registered office Share of capital and voting rights 12/31/2016 in % 12/31/2015 in % Nabaltec Asia Pacific K.K. Marketing and sales Tokyo, Japan 100.00 0.00 All individual financial statements of the consolidated companies, which are prepared in accordance with national law, were reconciled to IFRS and adapted to the Group’s accounting policies. The reporting dates of all companies included in the consolidated financial statements are 31 December. Subsidiaries are included in the consolidated financial statements from the time at which the company obtains control over the subsidiary until the time the company ceases to exercise control. The results of subsidiaries which are acquired or sold over the course of the year are recognized in the consolidated income statement and other comprehensive income from the actual date of acquisition or through the actual disposal date. Details concerning the Group’s subsidiary, in which substantial non-controlling interests exist, are presented below: NASHTEC LLC in TEUR Nashtec LLC Current assets Non-current assets Current liabilities Non-current liabilities Shareholders' equity attributable to shareholders in the parent company Non-controlling interests 12/31/2016 12/31/2015 3,017 20,445 22,318 0 583 562 5,104 19,006 22,890 0 622 598 |||| Nabaltec AG | Annual Report 2016

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