Accounting and Valuation of holdings

Subsidiaries
Companies defined as subsidiaries are consolidated in accordance with IFRS 3 and IFRS 10.

Partner-owned companies
Partner-owned investments are accounted for as associated companies. As a consequence of this, the equity method is applied, in accordance with IAS 28.

Other holdings
All other holdings are reported and valued as financial instruments in accordance with IFRS 9. 

investor pattern